Friday February 16, 2007

PETALING JAYA: The deferment of the implementation of single-pricing regime (SPR) for unit trusts to July 1, from April 1, is reasonable and should not be delayed further, according to industry players. 

CIMB-Principal Asset Management Bhd chief executive Noripah Kamso said: “We do not feel that it should be extended further. Keeping to this deadline will discipline the industry to solve all the issues within a specific timeframe. 

Tunku Ya’acobb

“We strongly feel that we should speed up being transparent to investors regarding the cost of their investment.” 

Hwang-DBS Investment Management Bhd chief executive officer and executive director Teng Chee Wai said the company viewed the deferment as reasonable as it had started upgrading its systems in 2006 when the Securities Commission issued the new guidelines the same year. 

Concurring with Teng and Noripah, The Federation of Malaysian Unit Trust Managers president Tunku Datuk Ya’acob Tunku Abdullah said the federation had had several discussions with its members and that everyone was comfortable with the July 1 deadline. 

Pacific Mutual Fund Bhd general manager for business development and marketing Gary Gan said the company felt that the new implementation date was reasonable assuming the comprehensive and detailed SPR guidelines were finalised by the first quarter this year.

Related posts:

  1. Single price will eventually lower sales charges for unit trusts
  2. Unit trust funds get off to a dazzling start
  3. What is The Impact on New Cabinet to Unit Trust Industry in Malaysia?
  4. Unit trust industry biggest in region

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