By the Star
It has set maximum limit of 20,000 units per account holder
Permodalan Nasional Bhd (PNB) will offer the remaining 1.6 billion Amanah Saham Malaysia (ASM) units, including those initially set aside for bumiputras, for subscription by all Malaysians from July 21.
President and group chief executive Tan Sri Hamad Kama Piah Che Othman said to ensure a fair distribution to the public, a maximum limit of 20,000 units had been set per account holder during the offer period from July 21-27. The limit would be void after the offer period.
“Thereafter, investors can subscribe for the ASM units without any maximum investment limit, depending on the amount of units left.
“Sales of the additional ASM units are based on a first-come, first-served basis,” he told reporters here yesterday.
ASM is an equity-income fund aimed at providing unitholders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.
According to Hamad, the remaining 1.6 billion ASM units are from the 3.33 billion units launched in April.
Of the 3.33 billion units, bumiputra investors were allocated 50%, Chinese 30%, Indians 15% and other races 5%.
However, only the allocated units for the Chinese and Indian investors were fully subscribed and it has now been three months since the fund launch.
“We will continue to hold seminars and talks on the benefits of investing to encourage more bumiputra participation in our unit trust products,” Hamad said.
PNB has confirmed that excluding Amanah Saham Bumiputera, there were some 6.6 billion units that have not been taken up by bumiputra investors.
These are from unit trusts such as ASM, Amanah Saham Wawasan 2020, Amanah Saham Didik, Amanah Saham Nasional dan Amanah Saham Nasional 2.
On the 1Malaysia Unit Trust as proposed by Prime Minister Datuk Seri Najib Razak last week, Hamad said an announcement would be made soon.
Meanwhile, a PNB spokesman said it was not aware of any practices of its agents such as banks on reserving ASM units for selected customers.
“We are not aware of such practices nor do we encourage this,” the spokesman said, referring to the latest ASM annual report which revealed that in the top bracket of unitholders, there were only 296 individuals holding a whopping 264 million units.
This translates into an average of 893,068 units per person.
* On how to make purchase of the ASM unit thrust, you can approach the authorised agents such as Maybank, CIMB, RHB and Pos Malaysia. The satistic of ASM Fund's return.
It has set maximum limit of 20,000 units per account holder
Permodalan Nasional Bhd (PNB) will offer the remaining 1.6 billion Amanah Saham Malaysia (ASM) units, including those initially set aside for bumiputras, for subscription by all Malaysians from July 21.
President and group chief executive Tan Sri Hamad Kama Piah Che Othman said to ensure a fair distribution to the public, a maximum limit of 20,000 units had been set per account holder during the offer period from July 21-27. The limit would be void after the offer period.
“Thereafter, investors can subscribe for the ASM units without any maximum investment limit, depending on the amount of units left.
“Sales of the additional ASM units are based on a first-come, first-served basis,” he told reporters here yesterday.
ASM is an equity-income fund aimed at providing unitholders with a long-term investment opportunity that generates regular and competitive returns through a diversified portfolio of investments.
According to Hamad, the remaining 1.6 billion ASM units are from the 3.33 billion units launched in April.
Of the 3.33 billion units, bumiputra investors were allocated 50%, Chinese 30%, Indians 15% and other races 5%.
However, only the allocated units for the Chinese and Indian investors were fully subscribed and it has now been three months since the fund launch.
“We will continue to hold seminars and talks on the benefits of investing to encourage more bumiputra participation in our unit trust products,” Hamad said.
PNB has confirmed that excluding Amanah Saham Bumiputera, there were some 6.6 billion units that have not been taken up by bumiputra investors.
These are from unit trusts such as ASM, Amanah Saham Wawasan 2020, Amanah Saham Didik, Amanah Saham Nasional dan Amanah Saham Nasional 2.
On the 1Malaysia Unit Trust as proposed by Prime Minister Datuk Seri Najib Razak last week, Hamad said an announcement would be made soon.
Meanwhile, a PNB spokesman said it was not aware of any practices of its agents such as banks on reserving ASM units for selected customers.
“We are not aware of such practices nor do we encourage this,” the spokesman said, referring to the latest ASM annual report which revealed that in the top bracket of unitholders, there were only 296 individuals holding a whopping 264 million units.
This translates into an average of 893,068 units per person.
* On how to make purchase of the ASM unit thrust, you can approach the authorised agents such as Maybank, CIMB, RHB and Pos Malaysia. The satistic of ASM Fund's return.
