Author Topic: First Metro Save and Learn Mutual Funds (Read 88876 times)

nailbiter · « **Reply #45 on:** Apr 24, 2007, 01:48 PM »

Bump for the pending question. Tried to email FAMI for a clarification but no response to date. Sa investors ng SALEF, na-charge na ba kayo niyang incentive fee?

lowije_dapogs · « **Reply #46 on:** Apr 24, 2007, 02:27 PM »

^tumawag nako sa fami and i just got off the phone, para mabigyang kasagutan na itong hanging question. sabi nung agent (hanilyn ata name) in case an investor redeems his share after the retention period, wala na raw binabawas na kahit ano, maliban lang yung sales load (na binayaran mo na on the day you made your investment). so tanong ko pano computation at anu-ano ang mga dinededuct, ang sabi wala na nga dinededuct and yung computation nga is: # of shares x NAV for the day (within the cut off na 12nn). binasa ko sa kanya yung mga binanggit dun sa ni-quote mo nailb like "incentive/performance fee", "hurdle rate", and parang alien ako sa kanya dahil di nya maintindihan mga yun. she said the fees or compensation paid to the fund managers are not deducted from the shareholders/investors. parang separate yun mga yon as operating expense as payment to the fund admin/manager (FAMI) and such expense are not co-mingled with the mutual fund issuer itself (1st metro save & learn equity fund). baka may pre-arrangement na between the two regarding those fees.

san ba galing yung quote from oda? i cant really say more about the allegations kasi di pa naman ako nagredeem from fami, but im guessing that those so called performance fees and the like are all taken into account when they determine or fix the NAV each day so that neto na talaga yung idedeclare nilang NAV. ewancoolang...

di nako masyadong nangulet dahil di ko rin naman talaga alam ano ba dapat kong tanungin. if you have more queries, the number to call is 840-57-51 to 56.

nailbiter · « **Reply #47 on:** Apr 24, 2007, 02:57 PM »

Kaya di rin ako tumatawag, may feeling din ako na magpaparang alien ako sa makakausap ko.

Pero yung tungkol nga sa incentive fee, galing mismo sa SALEF prospectus na nasa FAMI website. Sana tama ang agent in saying nabawas na rin yan bago ma-quote ang NAV. Malaki-laki rin ang 1/10th of the excess over 12%. Sa 67.45% na performance ng SALEF nung 2006, less 5.5% ang katumbas non.

Tanong: how often and in what form do you get updates on the present value of your shares? Apart from checking the daily NAV yourself, what form of correspondence do you get from the company in this regard?

Yung quote kay Oda, actually tatlong post yon na pinag-isa ko na lang, beginning here: http://www.inquirerbloggers.net/moneysmarts/2007/03/23/mutual-fund-investing-for-dummies/#comment-842

irongoddess · « **Reply #48 on:** May 02, 2007, 11:05 AM »

Hi guys! I called FAMI about this and they were quite surprised with the allegations. Tama sabi ni lowije_dapogs. The incentive fee is factored into the determination of the nav pero once a year lang sya dinededuct. Not everyday. What you see is what you get. Ergo no. of shares x nav for the day.

As for the question of nailbiter, we get updates at the fami website. there's a brief bi-monthly (i think) report in pdf format that they offer to shareholders. You also see the allocation of fami's investments there. For questions naman, i call na lang. Madali lang naman makaconnect sa kanila.

nailbiter · « **Reply #49 on:** May 02, 2007, 11:13 AM »

Good to know. Thanks for seeking further confirmation, irongoddess.

As for the investor updates, my question was regarding the value of your own shares, do you get personal updates? By mail? By e-mail? You could always check the present value of your shares against the daily NAVPS but not all investors may think to look this up in the newspapers or over the internet. I'm wondering if the company itself sends you any correspondence in this regard and how often these are sent out, if indeed they do.

irongoddess · « **Reply #50 on:** May 02, 2007, 12:04 PM »

As for me, they don't. No email or text. Actually, asking if there is such a service hasn't actually come to mind because I check ICAP and the FAMI website for NAV updates. They did send a snail mail once regarding a meeting on offering more shares. But otherwise, wala.

nailbiter · « **Reply #51 on:** May 09, 2007, 08:48 AM »

Thanks again, irongoddess. Anyway, I asked the question still in relation to my query on how they apply the incentive fee in case we couldn't get a definitive answer via phone or e-mail. If the company releases periodic figures of the fund value of your shares, you could compare that with the reported performance to see if any additional fees were charged after the reported NAV. Nasagot na naman nung kausap mo, deducted once a year before pricing the NAV.

tikiboy · « **Reply #52 on:** May 14, 2007, 10:58 AM »

hey guys, im planning to invest in FAMI by 3rd quarter of the year. Can you refer me to any of their reliable agents? Ayaw ko kasi walk in, cyempre mas maganda referral para mas alaga. hehehe. btw, yng sa binondo branch b nila pwede ka na bumili dun ng mga MF products nila? or kelangan dun pa sa makati? tnx again

irongoddess · « **Reply #53 on:** May 15, 2007, 09:52 AM »

Call Fami and ask for Sally. She's the one who usually accommodates new investors. Kahit na sa redemption, isa rin siya sa nag-aasikaso.

2pac · « **Reply #54 on:** May 15, 2007, 02:16 PM »

@tikiboy

from what i recall sa makati lang pede eh.... nung pumunta ako sa binondo parang hindi nila alam kung anu gagawin sakin hehehe so ni refer nila me sa main

@irongodness

Si sally po ba yung agent nyo? may orientation pa ba? if ever thanks

lowije_dapogs · « **Reply #55 on:** May 15, 2007, 02:42 PM »

Metrobank tellers don’t know anything about the MFs, but they are the receiving bank of FAMI so they accept investments to be deposited to the FAMI account, kailangan lang ikaw na mismo ang magresearch on your own about the MF products before ka magdeposit sa metrobank account ng FAMI. If you cant go to the FAMI office personally, pwede nyo na lang i-visit yung site nila www.fami.com.ph, where you can download the prospectus and application forms, then get in touch with one of their agents through phone (nasa website din yung phone numbers), at magtanong ng ano pa mang info na gusto nyong malaman. After that, you can already make your deposit to fami’s account in any metrobank branch and save your deposit slip. You can then fax the filled out forms together with the deposit slip, and confirm with a fami agent through phone kung nareceive nila lahat ng docs mo, tanong mo na din yung NAV na inapply sa shares mo (baka di mo inabot yung cutoff time). Fyi, u still need to send the original docs to them by post or courier service (make sure you leave a file copy of your own). After a week or two you will receive your provisional receipt and confirmation receipt and that’s just about it.

Yan ang trabaho ng mga tamad na gaya ko, so mukang di uubra kay tikiboy ang ganyan coz he wants a more personal relationship with his MF agent…

irongoddess · « **Reply #56 on:** May 15, 2007, 03:48 PM »

@2pac

No big orientation. Most of the things you need to know, you can already find in at www.fami.com.ph. Yup, Sally is my agent. Actually, she handles inquiries on FAMI. Pag tumawag ka ron, either sa kanya or some other girl (the name escapes me) ka ipapasa. But you do have to visit the FAMI office at GT Tower or at least, send the forms to the mailing address. As for the procedure, lowije_dapogs says it all. Madali lang. Deposit, submit forms with deposit slip and expect the provisional and confirmation receipt.

One time, i decided to add to my investment and pinadaan ko sa metrobank. Yung teller, hindi man lang binasa yung account name. Yung account number lang yung chineck nya. Eh nagkamali pa naman ako. Instead na sa Equity acct. ko naideposit, yung account number ko pang Bond fund pala. So nagkagulo diba. My forms say Equity, but my money's in Bond. So tawag si Sally and buti na lang, they were able to successfully transfer my money to Equity. What a relief!

tikiboy · « **Reply #57 on:** May 15, 2007, 09:12 PM »

thnx for the referral. will try to call them up tom. hehehe. plan ko na mag invest pero hinihintay ko lang mag correction yng stock market. ang taas ng jump ngayon eh. hehehe

2pac · « **Reply #58 on:** May 16, 2007, 12:58 AM »

@irongoddess

Thanks po sa information... my problem is wala akong fax machine =/ or scanner
but maybe I'll go na lang to GT

btw sabihin ko na lang sa kanya na you referred me to her?

thanks

irongoddess · « **Reply #59 on:** May 16, 2007, 01:54 PM »

@2pac - No prob

So happy hataw ang market kahit na elections. Finally, the Philippine electorate has proven they can conduct themselves in a civilized manner. Sana tuloy tuloy na. Ako rin, intay lang to add more money but what I'm really excited about is their balanced fund. I hope FAMI manages it as well as SALEF.