This latest investment fund could be a misnomer unless it is to describe all the woes inflicted on the public who have to endure the long queues at banks and post offices.
PNB have been managing funds for decades but it seems their application process still meets the criteria of the Dinosaurian era.
Just imagine thousands of citizens having to rush to post offices and the like, creating parking chaos and traffic jams just to put in a form and pay up a few thousand ringgit.
I expect there would have been a few muggings of investors who had to make cash withdrawals from ATMs.
Even Malaysian banks have been discriminated against as only 3 banks are mentioned. What about the other banks?
Maybe PNB do not know about the ability of all banks to do electronic funds transfer but I doubt it. If the archaic process of physical application indicates the fund manager's investing acumen, I will not apply for such units.
With ICT nowadays, applying for such funds can be easily done via all banks' electronic banking facilities with no need for physical queues. PNB can easily provide the banks the required conditions of the sale and all you need to do is perhaps log in and click a maximum of 5 times.
Maybe PNB wants Malaysians to mingle in those queues and then bitch about their application process?
photo: Thanks to the Star