ASW still have rm1.7Bil remain unsold for bumi quota, and ASD (soley for Bumi) still have 1.6Bil units available remain unsold. So i dont see why they want to invest in AS1M that currently 86% of the fund subscribed by chineses, and 9% by indian...FYI, ASW, and ASD has no individual limit, so they can put as much as they want, so it is impossible for them to max ASW or ASD.

PNB: Over 6 Bln Units Available For Purchase
KUALA LUMPUR, July 10 (Bernama) -- Over six billion units from various funds under Permodalan Nasional Bhd (PNB)'s Amanah Saham are still available for purchase by Bumiputeras.

PNB president/group chief executive, Tan Sri Hamad Kama Piah Che Othman, said among the funds available for Bumiputera investors included Amanah Saham Wawasan (1.7 billion), Amanah Saham Didik (1.6 billion), Amanah Saham Nasional (921 million), Amanah Saham Nasional 2 (2.2 billion)

This post has been edited by cheahcw2003: Aug 21 2009, 01:56 PM

Whether the race quota is maintained or not for AS1M is a moot point; since take-up by all race is way below amount/quota allocated.
The concern for PNB as fund manager now will be how to boost take-up, irregardless of race quotas

This post has been edited by ??!!: Aug 21 2009, 02:13 PM

I agree with u, if no quota, it will be all finished sapu by 1 race, especially the kiasu type. With this quota and max cap per person, PNB is to ensure that everyone from all etnic get the fair share of the fund. After all, this fund is launched by our PM, will use it for stimulating the country economy, ain case PNB can't sell 30% of the fund size within the 1 month promotion period, eventually it will open to all races, to meet our PM's rm10bil target/requirement.

To me, Chairman's statements to keep the bumi quota on hold after promotion period is just a marketing strategy. He may want to push the kiasu investor to max up now (for those who haven't opened AS1M or haven't max up to rm50K), and max up the 2nd round when it is opened after 3rd sept.

Those who are smart and have business sense will know they should not put all eggs in one basket. By one basket i mean ASNB (PNB), regardless which fund it is.

There are many rich Bumiputra too. My father personally know a few and have business deals with. The main difference for Bumiputra is that there is a huge gap between the rich Bumiputra and poor Bumiputra whereas the wealth of the Chinese is more balanced. Most of the rich Bumiputra are those elite Malays that are closely connected to the government and you do not see them putting all their money in any ASNB (PNB). Most of them probably do not invest in any other funds by ASNB (PNB) except ASB.

I bet the top 50 wealthiest Malaysians (be it Chinese, Malay or Indian) do not even take a look at PNB funds.

Even if ASNB (PNB) one day decides to abolish the racial quota for ASW2020 and AS1M by opening up the remaining unsold units to all Malaysian. It is likely that the Chinese, typically the race with more disposable income will also stop investing in ASNB (PNB) funds after their total investments in ASNB (PNB) reach certain level especially the kiasu ones. Let say they will self-imposed a limit of half a Million Ringgit only. Why ? Because those really rich Chinese have better faith in mega private banks such as HSBC Private Bank and Citi Private Bank etc.

The bottom line is that the Bumiputra quota for ASW2020, ASM (if any) and AS1M can be easily finished too. Just that those rich Bumiputra are NOT interested in ASNB (PNB) funds. Go figure



It should be on a first come first served basis. Or else i think they have given the wrong name to this recently launched fund.

Many multi-ethnic countries have done away with quota rule. Why are we still stuck in the last century ?

This post has been edited by MilesAndMore: Aug 21 2009, 05:18 PM

Miles and More, i agree with you.

PNB Declared ASW2020 dividen for year 2009 is 6.3%

Slowpoke. We already know that last 5 days ago.

Went to top up my AS1M today. Still available........

Brother ASM1 dividend not attractive enough only 4%....

Please take some time and read several posts back.

Nobody knows the dividend rate yet...... should be more.....

I don't have any ASM or ASW2020 so better get this one as there's no Q..... always can't fight with aunties and uncles who wake up so early in the morning to Q for ASM/ASW2020....

Who say the dividend rate is only 4%...... The prospectus said that AS1M is BENCHMARK AGAINST THE 5 YEAR GOVERNMENT SECURITIES.......... NOT giving 4% dividend. Also We don't know how the performance of this fund. maybe higher than the benchmark like ASM & ASW which is BENCHMARK AGAINST 3 MONTH KLIBOR WHICH AVERAGE 2.08%. it doest mean ASM & ASW paid only 2% dividend...... must understand the prospectus first. At first I also thing AS1M give 4% dividend, but after READING & UNDERSTAND FOR FEW TIMES, THEN ONLY UNDERSTAND THE "BENCHMARK THING".

Can i still opening account for ASM1? Since the fund size is big may be considering it as a temporaly place to park my dividend from stock market....

This post has been edited by darkknight81: Aug 25 2009, 05:03 PM

You still can invest in AS1M if your account is not max yet ie. RM50,000 for under 55 age, RM100,000 above 55 age. Better keep the money at least 1 year to get the return.....

This post has been edited by davinz18: Aug 25 2009, 06:16 PM

Yes you can. I think there are still a lot of AS1M left, even the non-bumi portion. I asked the lady at the Maybank counter but she said there's no way they can check to see how much is left.

However, if I'm not mistaken, there will be a service charge for any transaction after the promotion period (of 30-days)?

Inside the AS 1M account book, the investor's signature column, is it covered with plastic sticker after our signature or the bank will only stamp a chop stated "RHB BAB, Signature verified"?

When I compare my account book with my mom's, I found this difference. I open my account in a RHB bank in Penang, while my mom open hers in Kedah.

I just invested some money in AS1M. Hope it does well.
Lost 7k this year investing in a singaporean wine scam- Universal Assets Group.

I'm sorry for your loss in the Singaporean wine scam........ You won't be losing any money because it is a Fixed Price fund. The only thing is the dividend rate of the AS1M is we cannot predict..... Normally ASNB funds give dividend rate around 6.20 - 9% every year....... Less risk because it is government "supported" fund.... If give low dividend rate or loss making, then the "Image" of Federal Government will be bad in the eyes of people@rakyat m'sia

Went to Midvalley CIMB to buy AS1M today, when i said i wanted to buy the AS1M, the receptionist was so friendly.

Sorry, if i may ask. This is my first time buying, so i need to wait 1 year to get the dividends right? I can go back to the bank to sell the units right? I can top up the units anytime? because i am still waiting for my forex broker to TT back money to me, today i just bought 100 units of AS1M only.

Davinz18 i agree, if AS1M does not give any dividend means our country is in trouble. It means the big local corporation PNB invest in is not doing well. Big corp not doing well, then rakyat no job and salary.

The dividend will be paid once a year. For example if u put rm1000 now and withdraw rm600 after 3 months, and the remaining rm400 kept till the end of financial year end. Then your rm600 will be calculated 3 months dividend whereas the rm400 will be calculated for 1 full year, on pro-rate basis. Note that ASNB fixed price products' dividen are on monthly basis, meaning the dividend will be based on the lowest balance of the month, so in order to get the full month dividend, u need to deposit on the 1st of the month.