Still higher, right ???

there has been alot of talk on the fee charges on AS1M

has anyone here actually sold off some of their units and get charged 1% ?

so far i can only read ppl in this forum who updated or topped up more into their account ...

Has anyone withdrawn the interest at least? did u get charged 1%?


thanks for the info so far

New to this forum. Have just updated my AS1M account book. Turn out the effective return per annum is only 4.6% (ie. 6.38% over 13.87 months ie 5/8/09 to 30/9/10) Worst than sukuk which gives 5%. KLSE move more during the same period.

Private mutual fund people detected.

This post has been edited by soul2soul: Oct 5 2010, 12:09 PM

Sorry it is 6.38%*(12/13.87)=5.52% per annum.

If you put in rm100,000 on 1/10/09 (for 12 months) your return is only RM5520.

if you put in rm100,000 on 5/8/09 (for 13.87months) only than your return is rm6380.

Sorry miscalculate.

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Added on October 5, 2010, 12:22 pmsoul2soul I am no private mutual fund agent. Dont be so quick to judge. Was taken aback by your response which u have amended. It was my mistake that I miscalculate. Thank you for jolting me into recalculating the return. I am more happy now knowing the return is now better ie 5.52%/year.


This post has been edited by MGM: Oct 5 2010, 12:22 PM

Have you updated your account, can you show the printout? I would like to test the calculations.

This post has been edited by vergas: Oct 5 2010, 12:23 PM

Already mentioned in my first post that I have updated my account.
After checking with my own calculation of using 6.38%/year I realize it didnt tally with the updated figures, so I call up ASNB and they show me this calculation method and now it tallies.

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Added on October 5, 2010, 12:32 pmfrom 5/8/09, the fund launching date to 30/9/10, the account closing date, there are 13.87 months.

This post has been edited by MGM: Oct 5 2010, 12:32 PM

ammended. I stand correctly.

MGM has highlighted an important point.

This post has been edited by soul2soul: Oct 5 2010, 01:02 PM

According to them since this is a new fund ,any investment in august2009 also entitle the distribution based on the prorata basis.

Try omit the month of august and recalculate. Do you get the 6.38%?

the figure of 13.87 was given by ASNB when I call them, and it tallies with the updated figure in my account book. Btw you are not getting 6.38%, you actually get 6.38sen for distribution for the period of 13.87 months. So it works out to be 5.52% per annum return.

hmm... true also. Thanks for highlighting.

Just realize tahun kewangan berakhir 30 september 2010. Which means.. we only paid 6.38% for 13 months = 5.88% per annum.

Let's see how this fund perform next year.

Sniff does this mean PNB fund is getting worse in their performance??

This post has been edited by soul2soul: Oct 5 2010, 01:01 PM

Ah I see, so they have the money for more than 1 year, since it collect money early from the real start of the financial year. Thanks for highlighting.

Thanks for sharing this info. Personally I think it is kind of misleading to state the AS1M dividend is 6.38% per annum. It should have a note that the 1st divident is over 13.87 months.

I thought the 12 months dividend is 6.38% (30 sep 2009 to 30 Sep 2010)
Any money deposited (Aug 2009 to 29 Sep 2009) is based on another dividend rate, right ?

Only those who invested from 5/8/09 to 30/9/10 will get the full 6.38sen.

formula is (6.38*months-invested/13.87)

for 30/9/09 to 30/9/10 ie 12 months dividen receive is 5.52sen

Ouch... but still higher than FD lo... for that we have reason to be happy right? hey, i apologize for crude remarks earlier. Sorry ah

This post has been edited by soul2soul: Oct 6 2010, 10:50 AM

Gentlemen, it's definitely a case of Misrepresentation if it is announced officially by PNB that the AS1M dividend is 6.38% per annum. No argument about it. Even if it appears in the newpapers reports.

Better be careful of PNB Announcement in future.

Or is it that the forummers here thought or misinterpreted it as 6.38% per annum, but it was not officially announced in this manner by PNB ? We have to be clear on this, and to be fair to PNB too.

This issue here is not so much as whether the dividend rate is good or not, but has a case of misrepresentation taken place or not ? And should we be more careful in future - to ourselves and/or against issuer ?

AS 1MALAYSIA DECLARES 6.38 SEN INCOME DISTRIBUTION
Maiden payment for unit holders of unity fund

23 September 2010

KUALA LUMPUR - Amanah Saham Nasional Berhad (ASNB), a wholly owned subsidiary of Permodalan Nasional Berhad (PNB), today announced an income distribution of 6.38 sen per unit for its latest product, Amanah Saham 1Malaysia (AS 1Malaysia) for the financial year ended 30 September 2010.
.
.
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The calculation of income distribution this year will be based on the average monthly minimum balance held throughout the financial year beginning 5 August 2009 until 30 September 2010.
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Above statement taken from ASNB :
Dividend is 6.38sen for first financial year fr 5/8/09 to 30/9/10. Not 6.38% per annum.
Subsequent financial years will be 12 months long, therefore no more confusion.

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Added on October 6, 2010, 11:51 amIt's OK. You actually made me recalculate the return and I found my mistake of saying return was 4.6%.

Did you invested in AS1M?


This post has been edited by MGM: Oct 6 2010, 11:51 AM

MGM, thank you. As you can see, there is NO misrepresentation from PNB. It's just us which misinterpreted.

BUT --->>> I will be more careful of PNB from now on, why ? I must say that's a neat trick (if it's a trick) by extending the number of months and then giving out more sen per unit against the higher number of months.

I am sure many who are rushing to invest now will really be surprised next year WHEN THEIR DIVIDENDS FALL SHORT AGAINST "6.38%". And I am sure many would have been caught, still, it's better than FD.

Hopefully, no more legal tricks again from now on.