Net-based financial services debut in June

TuneMoney.com, a new no-frills financial service for unit trusts, insurance and other financial products targeted at the mass market, is likely to debut in June.

Tune Money will be distributing these products directly to consumers via the Internet, thereby keeping costs low.

Industry observers say Tune Money is likely to offer index-based unit trust funds, which don't have any upfront fees and charge low management fees.

Since the man behind Tune Money is Air Asia boss Tony Fernandes, there is a lot of buzz about this new financial service company.