The other day my mom went through the drawers and cupboards and surprisingly, she came across two gold coloured account books. One is hers, and another one is mine. They were Amanah Saham Malaysia’s (ASM) account books. Have no idea how long they have been there, gathering dust.
What is Amanah Saham Malaysia (ASM) you ask? Well, ASM is another one of Permodalan Nasional Berhad’s (PNB) fixed price unit trust fund.
I read PNB’s latest prospectus recently and I have compiled a summary of what Amanah Saham Malaysia (ASM) is all about.
Here are some of the features of Amanah Saham Malaysia (ASM):
- Categorised as an equity fund for investors looking for income.
- Capital protected with buying and selling price of units fixed at RM1.00 per unit.
- The fund invests 95% of its value in equities and another 5% in other capital market instruments and liquid assets. Examples are stocks, debentures, units of unit trust fund, deposits at call with financial institutions, bankers’ acceptances, negotiable certificate of deposits.
- The strategy employed by the fund managers are such that it will preserve the capital of the fund for the long term.
- The fund’s financial year end is on March 31 of every year.
- Standing instructions can be incorporated with ASM.
- Suitable for investors with a low-risk profile.
- Any eligible Malaysian can participate in this investment programme.
- Participation is subject to availability of units.
- The prospectus doesn’t say anything about availability of the fund to EPF members. Thus, I’m assuming, ASM is not available for EPF members.
- Minimum initial investment is 100 units (RM100) for investment books.
- Additional investments can be added in multiples of 1 units.
- There is no maximum investment for ASM, as long as there are still units available.
- To sell the units, you need to at least maintain a minimum balance of 100 units (or else, you may be asked to sell all of your units).
- Units may be redeemed (sold) at any time and money will be given on on-the-spot basis.
Charges, Fees, and Expenses
- No sales charges are charged but the deed does allow a sales charge of up to a maximum of 10% of the NAV per unit of the fund.
- No exit fees (Repurchase charge) as well.
- Fees & Expenses. Annual management fees of up to a maximum of 1% p.a. of the value of the fund which will be calculated and accrued daily, as may be agreed with the relevant parties. Trustee fees stand at RM300,000 or 0.08% per annum of the value of the fund, whichever is lower. There are also other fees such as the audit fees, custodian fees, cost of distribution of annual reports, distribution expenses, distribution statement and notices to unitholders.
- Income distributed will be recorded as additional units in your ASM account.
- The distribution of income and the rate of return is at the discretion of the fund.
- Annualised average total return of ASM:
1-year: 6.80 sen per unit.
3-year: 6.92 sen per unit.
5-year: 6.87 sen per unit
Disclaimer: This article is not a specific nor general advice on managing or investing your money. This article does not constitute a recommendation nor does it take into account your investment objectives, financial situation nor particular needs.
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