FSM’s new pricing structure, with the introduction of "platform fee" wef 1st April10 has sparked numerous protest in sgfunds forum thread with 6pages in just 2days and FSM forum thread.
As early as March2007, a mysterious man nicknamed “newbie_George” aka ZGL sparked a protest against FSM with the following thread,
“Pissed off with both Fund House and Distributor” after the then Lion Captial Thailand revalued their NAV -10% whilst no crash in index.
ZhuGeLiang also went down to FSM event organized by NTU IIC in year2007 and debated with the speaker Wong Sui Jau, FSM General Manager, on the spot even though ZGL was not a student of NTU during that time.
Ever since the saga, ZGL vowed not to have a single unit trust in his cash portfolio.
With the current annual platform fees, it seems that massive amount of buy_and_hold investors are transferring out their unit trust to other distributors, which will in turn lead to FSM’s probable slow death?
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