Justunittrust | Kalau harga turun, camne ye ?
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Kalau harga turun, camne ye ?

Kalau harga turun, camne ye ?

Soalan : “Kalau selepas saya invest, harga turun, macam mana ?”

Pilihan jawapan :

A. Tau, takpe… (jawapan orang yang tak suka pelaburan unit trust)

B. Hmmm, tu lah… (jawapan orang yang neutral tentang pelaburan unit trust)

C. Tak tahu… (jawapan orang yang blur tentang unit trust)

D. Selain dari A, B dan C…. (jawapan-jawapan rasional dan benar supaya pelabur faham dan mengaut untung jangkamasa sederhana ke panjang)

Recently, saya ditanya soalan  “how to answer when investors delay making their unit trust investment, due to fear of price decline ?”.

Firstly, adakah kita pasti bila “price decline” ? Can we be sure when and what amount ?

Secondly, Unit Trust Consultants should make known to investors that price do fluctuate when making investments in unit trust. And this exact fluctuation in price is the advantage, which differs UNIT TRUST INVESTMENT from mere SAVINGS.

INVESTMENT have price fluctuates and requires TIME (medium to long-term), which defers them from SAVINGS. Very much like tanam pokok durian, perlu benih yang baik, masa, baja and TLC (tender, loving, care), especially at early stage pertumbuhan. Kadang-kadang keadaan cuaca yang yang tidak menentu, boleh menggugat dan mungkin mencabar pertumbuhan pokok durian tersebut. Oleh itu perlu sabar dan tawakal, after putting in the right effort.

Similarly, most form of genuine investments, the right ingredients and combination makes a GOOD INVESTMENT, which grows healthily over time.

BENIH POKOK + MASA + BAJA dan CUACA = POKOK DURIAN SIHAT

MODAL DUIT + TIME + INVESTMENT PLAN = GOOD INVESTMENT

Both “pokok durian yang sihat” and “good investment” will generate buah-buah durian yang sedap and pulangan pelaburan yang bagus. Both pokok durian and good investment after tempoh sederhana (biasanya 2 to 3 tahun) akan bertahan most keadaan cuaca dan turun naik harga. Sometimes, bisa produce untung jangkamasa singkat – “durian runtuh” or windfall gains !

SAVINGS pula untuk short-term or jangkamasa pendek 1 to 2 years, tanpa turun naik harga. Do not expect pulangan tinggi beyond 6% (based on kadar inflasi in most main towns in Malaysia). The only exception to this is ASB where the government-linked asset management company devices a special  mechanism to hold capital at par of RM1 per unit (savings) but able generate pulangan sekitar 8% (not bad !).

Tetapi mechanism ini tak perfect, ada kekurangannya. Sebab price yang tetap seringgit forever, kuasa beli (purchasing power) hilang if invest dalam jangkamasa yang panjang. Without being bias about Syariah principles in investing, I feel that ASB is suitable for SHORT-TERM SAVINGS and not for investment. Sebab in short-term, pulangan ASB 8% – 9% lebih menarik berbanding bank deposits at 3%. But in long-term (above 2 years), banyak pelaburan lain yang boleh generate above 10% return as the price fluctuation is able to generate more returns, making ASB less appealing.

Still, in any investment, pelabur mesti ada sedikit savings dahulu, sebelum boleh venture in investment. So, it’s a good practice to mula-mula simpan and save duit in bank and perhaps ASB (bagi yang tak kisah). A good amount to start is 10% to 20% of gaji. Bila modal dah capai a reasonable amount, mulakan investment plan. Remember to include diversification as an investment strategy – some short-term savings in bank, ASB, Tabung Haji while more in investment unit trust, property, gold dan sebagainya.

Avoid being taksub or too emotional or too in love with a certain type of investment vehicle. In making investment, pelabur perlu detach perasaaan and emosi when making investment decisions. Bahaya if cintakan sesuatu terlalu sangat ! Cinta itu buta…….

Well, how does a unit trust consultant or an agent respond to “Kalau selepas saya invest, harga turun, macam mana ?”

Don’t worry, be happy. Saya faham perasan Encik Investor, perhaps….

(teknik – “align and re-allign” to investors’ feelings, then baru beri penjelasan. Avoid using word “but” or “tetapi”). So respond dengan “Sayan faham perasaan Encik Investor”, seterusnya sambung dengan penjelasan, mulakan dengan “perhaps/ biar saya jelaskan….”

  1. Bila invest in unit trust, investors “tak feel” the investment sebab what they get is a piece of paper as confirmation of units held. Unlike invest in property – its tangible dan can be seen physically. Walaupun property tak dapat dijual or tak dapat disewa, tuan punya masih rasa berbangga sebab ada rumah tersebut (although harga dah jatuh tergolek seperti rumah-rumah di bukit beruntung !). But when invest in unit trust, the physical form yang tangible is in Ringgit Malaysia. Thus, investors feel concern sebab the value is so obvious. The things is, if invest in property, gold and perhaps bila pergi shopping, kita suka beli bila harga murah. Lagi banyak dicaount, laaaagi best ! Sama lah dengan pelaburan unit amanah. Cuma, again investors “tak feel” sebab duit pelaburan hanyalah Ringgit Malaysia, dan nikmatnya tak terasa until investors beli sesuatu dengan Ringgit tersebut.
  2. Setiap investment (belian unit) actually pelabur membeli lebih dari 20 jenis saham/share dan Bond/Sukuk dalam sesuatu tabung or fund. Contoh – fund yang defensive usually beli saham-saham blue chips. Often we see saham such as Petronas related, Axiata dan TM, Maxis, Digi, also KFC Holdings, IJM Corporation and many more companies yang hebat-hebat on Bursa Malaysia. This means that duit investor is used to invest in companies’ business – oil & gas, telecommunication, construction dan sebagainya. Investors patut berbangga dan confident that these blue chip companies will generate pulangan pelaburan yang bagus ! This also means that by investing in unit trust, investors actually invest in business of this hebat companies !
  3. Bila harga boleh turun, is juga boleh naik. Good fund managers akan mengambil kesempatan “kejatuhan harga” untuk membeli lebih banyak saham-saham berkualiti dalam keadaan pasaraan harga yang rendah. This strategy sangat applicable to PMB – our funds are large, so during kejatuhan harga pasaran saham, these funds with RM1 billion or more in size Net Asset Value, akan dapat membeli or shopping even more quality stocks at discounted price. Remember, fund managers are not speculators ! They don’t chase for price unlike retail speculators. Fund managers ada purchasing power yang besar dan holding power yang lama. Ini advantage invest with fund yang besar with fund managers yang recognized track record mereka.
  4. Strategy yang baik untuk pelabur adalah “Be fearful, when others are greedy and be greedy when others are fearful”. The good time to invest is – all the time. But the best time to invest banyak is – when orang takut nak beli. So for investors yang takut-takut nak invest, when the market jatuh, the risk is also lower. Jadi, inilah masa nak beli banyak !
  5. Remember “diversification” ? So, when harga unit amanah decline, sabar (if cannot add more modal) dan if perlu pakai duit, withdraw lah dari sumber lain – simpanan bank, ASB or Tabung Haji yang tiada fluctuation. Tapi ingat bila unit trust investment menjadi, jangan pula terlampau saying nak jual ! Avoid being emotional and greedy.

So, saya harap the above idea and explanation helps. Now, we can explain and respond to investors better. Use tools such as Interim Report each fund (to show where each fund invest in) dan think of future value investment. Invest sekarang, untuk masa depan. So, kita tak perlu risau kejatuhan sementara (sekarang), fikirkan kenaikan harga di masa depan bila kita perlukan wang itu kelak.

1Comment
  • nazri nasir
    Posted at 13:31h, 09 June Reply

    thanks for the info sis..helps a lot for new comers like me..:)

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