If you’re already invested in the Tradeview Funding Societies Income Fund (TFSIF), or thinking about starting, this Merdeka season Funding Societies is running two separate campaigns on the same fund at the same time. This article walks through how each one works on its own, and what happens if they happen to overlap, so you can work out what applies to your own situation.
What is Bonus Kaw Kaw and how does Earn RM69 Together work? Bonus Kaw Kaw gives TFSIF investors boosted bonus units and zero sales charge on investments from RM10,000, running 1 August to 30 September 2026. Earn RM69 Together pays both referrer and referee RM69 in bonus units per successful referral, uncapped. Both run in the same window, so their criteria can happen to apply to the same investment.
A 30-Second Refresher on TFSIF
TFSIF is a wholesale income fund managed by Tradeview Capital, investing in Funding Societies’ SME financing notes. It targets a return of around 6% per annum, distributed monthly, with a minimum investment of RM10,000. It’s designed for Sophisticated Investors, a Securities Commission Malaysia classification we’ll come back to further down. For the full mechanics of how the fund works, our TFSIF explainer covers it in more depth. This article is about the two Merdeka campaigns running on top of it.
How Bonus Kaw Kaw Works
Bonus Kaw Kaw rewards you for investing during the campaign window, on a sliding scale. There’s no cap on how much you can earn, and there’s zero sales charge on any investment made during the campaign.
New investors get RM100 in bonus units on their first RM10,000. After that, every additional RM25,000 invested earns RM69 in bonus units. Cross RM500,000 in cumulative investment and you get a one-time RM900 bonus on top.
Existing TFSIF investors don’t get the RM100 entry bonus (that’s for new money coming in), but they earn the same RM69 per RM25,000 on top-ups, plus the same RM900 milestone bonus at RM500,000.
| Cumulative investment | New investor bonus | Existing investor bonus |
|---|---|---|
| RM10,000 | RM100 | Not applicable (entry bonus is new-investor only) |
| RM35,000 (RM10,000 + RM25,000) | RM100 + RM69 = RM169 | RM69 |
| RM100,000 | RM100 + RM207 (3 x RM69) = RM307 | RM276 (4 x RM69) |
| RM500,000 | RM100 + RM1,380 (20 x RM69) + RM900 = RM2,380 | RM1,380 (20 x RM69) + RM900 = RM2,280 |
If you invested in the previous round (Unlock Unlimited Rewards), your past investment carries forward. It counts towards the RM500,000 milestone in Bonus Kaw Kaw, so you don’t start from zero.
How Earn RM69 Together Works
The Earn RM69 Together referral side is simpler. Share your referral page with a friend or family member. If they sign up and invest a minimum of RM10,000 in TFSIF during the campaign, you both get RM69 in bonus units, no limit on how many people you refer.
Two things worth knowing before you refer:
- Both the referrer and the referee need to keep the investment for 12 months. Withdraw earlier and the bonus units are forfeited.
- Make sure your referral is properly linked when your friend signs up. If it isn’t attributed correctly, the referral can’t be validated, so it’s worth double-checking this step with your friend rather than assuming it went through.
What Happens if Both Campaigns Apply to You
Bonus Kaw Kaw and Earn RM69 Together are independent of each other. Whether you take part in one, both, or neither depends entirely on your own plans. This section is just about what happens mechanically if both end up applying to the same investment, not a suggestion that combining them is the better option.
Because both campaigns run in the same window on the same fund, a single new investment made through a referral link happens to qualify for both at once. If a friend signs up through your referral and invests RM10,000 for the first time, that investment separately meets the criteria for the RM100 Bonus Kaw Kaw entry bonus and the RM69 Earn RM69 Together referral bonus, RM169 in bonus units in total. You’d separately qualify for your own RM69 for referring them.
| Scenario | Bonus units earned |
|---|---|
| New investor, RM10,000, no referral | RM100 |
| New investor, RM10,000, signed up via referral | RM100 + RM69 = RM169 |
| Referrer (for that one successful referral) | RM69 |
This is just how the two sets of criteria happen to intersect. Someone who only wants to invest without referring, or only wants to refer without investing more themselves, gets the reward for whichever campaign they actually took part in.
TFSIF and the Sophisticated Investor Classification
TFSIF is designed for Sophisticated Investors, a classification defined by the Securities Commission Malaysia rather than by Funding Societies. Broadly, it covers individuals with certain net assets, income, or investment portfolio levels, or with relevant industry qualifications or experience. The Securities Commission sets and reviews these categories independently, so if you’re curious about the specifics, its guidelines on Sophisticated Investors set them out in full.
This classification exists because wholesale funds like TFSIF work differently from everyday retail unit trusts, with a higher minimum investment and a narrower investor base. In exchange, Sophisticated Investors get access to a fund built around Funding Societies’ SME financing notes, a way to add income from that asset class alongside the more familiar ones already in a portfolio.
Campaign Timelines
Both Bonus Kaw Kaw and Earn RM69 Together run until 30 September 2026. You can find the full terms for each on their respective pages: Bonus Kaw Kaw and Earn RM69 Together.
FAQ
How are bonus units calculated and credited?
We calculate bonus units based on your cumulative qualifying investment during the campaign period, and credit them to your account one month after you make the investment.
What does “zero sales charge” actually mean?
Normally, a sales charge applies when you invest in TFSIF. During Bonus Kaw Kaw, that charge is waived, so more of your money goes directly into the fund.
Can Bonus Kaw Kaw and Earn RM69 Together apply to the same investment?
They can. If a friend invests through your referral link, that single investment happens to meet the criteria for both Bonus Kaw Kaw’s tiered bonus units and the Earn RM69 Together referral bonus. Neither campaign requires the other; this is just what happens when both sets of criteria are met at once.
Does my investment from the last campaign round carry over?
If you invested during Unlock Unlimited Rewards, that amount counts towards your Bonus Kaw Kaw milestones, so your progress towards the RM500,000 bonus doesn’t reset.
Who counts as a Sophisticated Investor?
It’s a classification the Securities Commission Malaysia defines independently of Funding Societies, broadly covering people with certain net assets, income, investment portfolio levels, or relevant professional experience. TFSIF is designed for investors in this category.
Sources
- https://fundingsocieties.com.my/promotions/2026/bonus-kaw-kaw (Funding Societies Malaysia, August 2026)
- https://fundingsocieties.com.my/promotions/2026/earn-rm69-together (Funding Societies Malaysia, August 2026)
- https://fundingsocieties.com.my/tradeview-funding-societies-income-fund (Funding Societies Malaysia, August 2026)
- https://www.tradeviewcapital.my/fund-info/tfsif/ (Tradeview Capital, August 2026)
- https://www.sc.com.my/regulation/guidelines/categories-of-sophisticated-investors, Guidelines on Categories of Sophisticated Investors, SC-GL/1-2024 (Securities Commission Malaysia, first issued February 2024)
This article is for general information only and does not constitute financial or investment advice. It does not take into account your personal financial circumstances or objectives. Whether to participate in either campaign, both, or neither is entirely your own decision, and eligibility for TFSIF as a Sophisticated Investor is subject to the Securities Commission Malaysia’s criteria and Funding Societies’ own verification. Please read the full terms and conditions on the respective campaign pages, and consider seeking independent financial advice if you’re unsure.
