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How to Redeem Manulife Unit Trust Fund?

Cash and coins backdrop with wording how to redeem Manulife unit trust fund.

For this post, I am going to share how to redeem the Manulife unit trust fund.

This sharing is purely based on my own experience when I recently redeemed my Manulife unit trust fund.

After investing in multiple unit trust funds for about 15 years, this is also my first experience of selling off my unit trust fund and redeeming my cash.

So, let’s read on further.

How to redeem the Manulife unit trust fund?

Firstly, when I decided to redeem my Manulife unit trust fund, I made a call to Manulife customer support at 03-2719 9271 to ask for the procedure.

I also asked for the methods available for me to redeem the Manulife unit trust fund. Because I hope I can do it online. But, currently, the only available method for redemption is through their Manulife branch offices.

Aside from that, I also contacted my Manulife unit trust adviser to tell her that I wish to redeem one of my Manulife unit trust funds.

As expected, she asked why I wanted to redeem after I invested for many years.

I shared with her that I am not happy with the performance of that particular fund for the past 3 years.

In 2015, I made a fund switch from the other fund to this new fund. And from my monitoring, this new fund is not performing. Instead of making a profit, I saw the value was dropping.

Thus, I decided to cash in and invest it in a robo-advisor (StashAway) with the hope to have a better return on investment.

Then, she shared that she expects the fund to improve in the third quarter of that year. But I told her, I don’t want to wait any longer.

I think she feels quite bad for not telling me to switch to other funds earlier. I never blame her because I can monitor the fund on my own.

Then, she advised me to make my redemption at the Manulife unit trust Kuching office.

Read more: For unit trust consultant: How to convince me to invest in a unit trust

Redemption process step by step

The redemption process is as below:

1. Prepare documents needed to redeem Manulife unit trust

Among the documents needed for Manulife unit trust redemption are:

  • NRIC (bring along your original NRIC for verification purposes)
  • Your bank account number

You need to show your original NRIC when you wish to redeem your unit trust.

Also, you must have a bank account number with you.

So that they can directly transfer the fund to your bank account.

2. Visit your nearest Manulife unit trust office

With the 2 documents above, go to your nearest Manulife unit trust office.

You can check their office location at the Manulife website for their branch network throughout Malaysia.

Once you arrived at their office, tell them you wish to redeem your Manulife unit trust fund.

They will ask for your NRIC to get access to your Manulife account.

If you have multiple funds, then you will need to tell them which fund you wish to cash in.

Then, you will need to sign a redemption form and fill in your bank account number.

The support staff said the fund will be deposited into my bank account within 7 working days.

As a gentle reminder, do make sure you provide the accurate bank account number. Because the wrong bank account number could delay the redemption be process and troublesome too.

3. Wait for the fund to be deposited into your bank account

Exactly one week after I submitted my redemption form, I saw the fund transferred to my bank account.

That is within the 7 working days.

Final thoughts

I had wanted to redeem this particular fund since 2018. But, it was delayed again and again.

One of the reasons is that I find it very inconvenient to have to go to the local branch office for the redemption.

Although the process to cash in my Manulife unit trust fund is not difficult, I find it troublesome to have to be physically present at the local branch office for redemption.

It would be much more convenient for investors if they allow online redemption through Manulife online portal.

Anyway, I think there are reasons why some investment companies require the investor to cash in at their local branch office.

So, for those of you planning to redeem your Manulife unit trust, I do hope my sharing above can guide you in the redemption process.

Lastly, it is advisable for you to contact your unit trust adviser and Manulife unit trust office in case there are changes in their redemption procedure.

4 thoughts on “How to Redeem Manulife Unit Trust Fund?”

  1. I am searching for redemption option on Manulife portal but cannot find one. When I search online, Google brings me to this post. Thanks! And it is as you said, they should make online redemption available on their portal.

    1. Hi Yuzi, thank you for your comment and hope my sharing able to help you with the redemption.
      Personally, I think online redemption is such a vital part especially now with the COVID-19 pandemic.

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