Convenient but need to use transferrable funds and limited operating hours
The latest update to Touch 'n Go GOInvest is a welcomed addition, as it now includes a linkage to purchase ASB (Amanah Saham Nasional Berhad) Funds alongside its existing CIMB Principal offering. This enhancement broadens the investment options available to the ewallet, making the platform more versatile and appealing.
ASB has got variable rate funds (unit trust). This might come as a surprise to many users who were previously unaware of ASB's diverse range of investment options, including ASM 3 and ASM Wawsan2020 fixed-rate funds. The inclusion of variable rate funds opens up new possibilities for investors seeking different risk levels and potential returns. Fixed rate funds are funds that the price is the same and can be bought back at the same price like a capital protected scheme while variable rate the price fluctuates based on the NAV (net asset value) of the fund.
For convenience, users also have the option to purchase ASB Funds directly from Amanah Saham's official website, myasnb.com.my. However, the real advantage lies in using Touch 'n Go GOInvest for these transactions. The minimum entry amount of only RM10 is a standout feature, making it an attractive option for investors who want to start with a smaller investment amount. In contrast, purchasing from myasnb.com.my requires a minimum investment of RM150, making Touch 'n Go GOInvest a more accessible platform for beginners and those looking to invest with smaller sums.
Just take note investments into ASB funds require users to use Touch N Go transferrable funds. This means that credit card reloaded funds into TnG wallet cannot be used to top up ASB funds. On the upside, investing into ASB funds have never been easier as it is embedded into the Touch N Go ewallet app itself.
Another note is ASB variable price funds also have charge service charge. Fixed price funds do not have sales charges but are mostly fully subscribed and need to buy from another person who is selling. ASB variable fund performance have give good returns and performance for past 3-4 few years. I personally feel ASB should not charge service charges to purchasing these variable rate funds as performance has been lack lustre.
A concern I encountered is the limited availability of purchasing funds within specific hours, such as 3 AM to 4 PM. In this era of always online accessibility in 2023, I find it puzzling that ASB restricts individuals from investing in their funds round the clock. Many other unit trust companies have adapted to the digital age by enabling purchases 24/7 and advancing the cutoff time to the following day. It would be beneficial for ASB to consider adopting a similar approach for the convenience of its investors.
