No choice, non-bumi portion all sold. Go for AS1M before it's finished. Like W2020 before fully sold it's not taht popular. After the non bumi portion all gone everyone rush for it.

hi noob,

In Unit Trust (or rather Unit You Don't Trust) win or loose the managers have their fun(d) ...ooop their fund/cut/fee. You can loose like hell. So in sun or rain, the fun managers can play golf and buy-sell thru their handphones in style... I mean "cool". Their manager's fee are still there. If market goes up, you get your steak (after their cut of cos). If market goes bearish, they still get their cut, only after that you get what's left over..skins and bones.. if any still left. i.e. you loose and loose.

I am not sure if the fixed-price fund here under PNB make any loses in the past? anyone clarify this?

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Added on February 26, 2010, 10:16 pmhi besiegetank,

looking back at those funds e.g. Wawasan2020, when it was just launched. It also took quite a while for the people to buy up the fund. Even the non-bumi part takes quite a while, so I was told. Of cos during that time, W2020 was an "untested" new fund. The bumis have so many other funds with "known" results to sink their savings into without having to "gamble" with the untested W2020. Some years after the launching, after the returns were out and seen to be good or better than just good, the additional W2020 funds non-bumi portion just finished up in a matter of hours after opening for booking! Now if you want to buy W2020 you have to wait on-line to "fish" whatever scapes someone drops back into the pool.

Now we have in front of us a brand new "untested" AS1M sold 3.2 billion out of 10 billion units. Out of 3.2 billion units the Chinese have taken up 90% of their quota..i.e. 2.7 billion units more or less.The other half a billion must have come from somewhere, Indians and some bumis, the super rich ones who have already filled up their limits to brim in all other already-tested-funds.

Now having said all that let me tell you what I did, foolish or not, I emptied all my F.D.s into this AS1M this time without having to line up begging for my share. I have gone thru the past results of the other PNB's funds and don't see anyone go belly up. I believe, again it's just my 2 sen believe. The outcome cannot be worse off than my banker's 2.0 miserable % interest with my fixed term F.D.s. If the return's not up to your expectation even though it's better than your 2% F.D's interest, you can always pull out after the dividend paid and park your cows elsewhere.

Anyway, call it Wawasan2020, ASM or AS1M, I bet my dollar, Roses by any names still smells the same. I believe I can't be very far wrong on this one. Just let's wait and see.



This post has been edited by Libra: Feb 26 2010, 10:16 PM

Brother,

Never mind if they are transparent or not. Look at their past results, thru hell and firestorms they still managed to rake in enough to pay dividend to their unit holders. it's nothing less than miracle. Take a look at the 1997 financial meltdown in malaysia. many unit trust funds shrunk from say RM1.00 to RM0.15!! No joke, it's fact. I have a friend who got caught with RHB Dynamic fund which dropped from RM1.20 +/- down to something like RM0.32!!

Now take a look at the dividend rates for W2020 and ASM for that year. W2020 div 1997 was 8%!!! and ASM was 6.8%!!! Honestly, I cannot figure out how they could have done it but they DID! Taxed or not, I cannot imagine how to make money from equity or Gov't Bonds when Blue chips like Maybank dropped from well over RM10.00 per share to RM2.40 each. I would be happy if they kept my RM1.00 per unit in status quo during the crash. Saving me all those sleepless nights is already worth the investment.

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Added on February 27, 2010, 11:29 pmI thought I read somewhere back. this AS1M up till today they still haven't got tax exemption from the govt' yet.

Another thing, I believe, true or not, I cannot confirm. I believe, being a gigantic fund and govt backed like EPF, they have huge advantage over other funds that they probably (just my guess) do not have to pay trading charges or stamp duty, commission and what not which you and me do not have the advantage. they probably do not go thru trading house with their dealing. They have their own trading licence. thus the commissions/fee thing do not arise. That alone is a huge saving for the fund.



This post has been edited by Libra: Feb 27 2010, 11:29 PM

Hi Cheah,

I have searched thru the prospectus.
goto this site:-

http://www.asnb.com.my/Prospectus%20-%20AS1M.pdf

run down to page 19 of the prospectus... section 6.3 on TAXATION part.

... "tax of 25%"

... ASNB will be seeking income tax exemption for the fund from the ministry of finance..



Note:... WILL BE... unless somewhere after the pospectus was published, they have already got the exemption. I haven't come across any such news yet so far.

Nope, I am not worried about tax. I've never said I am. Tell you the truth, "worry" is the last thing I have in mind with this AS1M fund. If you care to read what I have wrote in response to besiegetank on Feb 26 2010 at9:46pm message above, I have said I have "...emptied all my F.D.'s into this AS1m.." That alone speaks for itself.

So... I am just trying to put it on record that as at this point in time not all the PNB Funds ARE EXEMPTED from tax as you have put it to us. At least Not AS1M. In future, yes may be it's going to be included with the others as Tax Exempted.

Be careful not to wait too long or else you have to wait forever. As of 24/2/2010 from the horse's mouth PNB President moentioned some 89% of the non-bumi/chinese' portion has already been sold. So more or less 10% left. Since it's a fixed price unit, I would first take up now and wait after the dividend declared to sort out the mess later. I think it cannot be less than the banker's FD rate. may be not as good a return as buying stocks. But mind you our KLSE is now almost if not already peaked this time round, we may be on the other side of the hill on a one-slippery-road-downhill. who knows!

About this charges thing. as of last week, I have bought inot some more units and there was no handling charges yet.

EPF with it's portfolio of about 27% in equity and the rest (over 70%) in Bonds, Govt Securities, money market instruments etc if can give a return of 5.65% from last year's bull market, PNB's ASM being an equity fund cannot be preforming worst than the 5.65% mark. It would be most embarassing if it cannot perform better than the EPF's 5.65%..

sorry. not 31 march.
AS1m Financial Year Ends at 30 September..

Askar

goto this site and familarise yourself with the fund before taking
a dip.

http://www.asnb.com.my/english/as1msia.htm

right at the bottom of the fund info is the date
of "financial year end".

good luck....

Been to ASNB Office today to top up.
Was told only 200 mill left. so far quotas not
filled for other races e.g bumi or Indians etc
still not opened up yet to Non Bumi Chinese.

I have heard about this somewhere BUT never from the "horse' mouth" ... I mean official.
Anyone saw anything like opening up AS1M to all races after Chinese quota filled?

yeah. you are right. Probably is the word.
I wouldn't be too sure. I too am hoping.
but if Najib is to lost his job tomorrow.
you can consider your "eggs" ..."boiled".
AS1M is supposed to be his baby. don't
want to loss face to Maha's W2020.
if he were to get thrown out of his office,
there goes his baby together with the tub.

Not even 30%! my oh my. call it handout, dividend, profit or in any other name money still smells as sweet.

Who cares it's your cup of tea or not. I will still take the gain. Important thing is at the end of the day you
walk out a winner. and come back to fight another day. Remember Warren Buffett's rule... "Never lose money!"


"Rose by anyother name still smells the same."

Cannot blame them. As the Chinese quota is running out fast. The urgency is obviously there.
When there were some 80% of the chinese quotas available, everyone poured cold water over the
issue. Now that the Quota is drying up everyone seems to be rushing for it. Bet it will be over very soon.

Another thing, everyone seems to be very confident that when the quota for Chinese has been sold
PNB will open up the Bumis for all to buy. I don't know where they got this idea from. Tried searching
high and low cannot find the source. Bet they won't open up for all like Wawasan2020 or ASM.
I hope I am wrong. Just loved of they adopt the Free-for-all funds.

In this country, common sense is something that is not so commonly found. I cross my finger and wait for the day when THEY, yes, they, abolish the race quota / allocations be it PNB / Bursa or in any field.

No need a few hundred lah. If your parents' property/ies are not so complex/complicate, just draw up one simple will, get two witness, get an administrator or two and you can even draft one out yourself. But if they have lots of properties/ more complicated than you think you can handle, then get a goot lawyer or will writer professionals to come up with one good solid will so as to save lots of pain in future. They can always change their will if they want to change their plan in the near furure.

Yes. That's NOT a joke. That's REAL!!

BUT, yes, but. There are conditions that have to abide to before the court of Law take the bait.

1. Witness to that "Will". Theoritically, we need two witness. May be more the better. They both better be alive when the will went into effect. i.e. the writer of the will dies. Otherwise how is the court going to know whether that "will" written on the eggshell or onto the wall hidden behind the family photo is written by the so-call Testator? O.K. there was once a man who had suffered heart attack. Knowing that resuscitation might not leave him fully recovered.. of all you know he might ends up a vegetable. So he tatoo ed his "will" onto his chest... in the event that... he wished that he be not resuscitated! So the doctors doing nothing shall not be liable to negligent of leaving him for dead.

2. There on the will must be stated who the "executor" of the will be. May be more than two in case the only one executor named did not survived the testator or may be years alter he either cannot "remember" having been asked to be the executor for someone's will or aging caused him to loss his state of mind to function as the executor.

There are other issues but for now these 2 you have to tackle to have a valid will. But where you are going to keep the will or by the time you need it, it cannot be found, or if found its partially chewed up by the cockroaches.. that is something else.

I have used up all my F.D.'s mostly went into AS1M. I have none left.
If I have more spare cash, honestly, I will still dump them all into AS1M
unless and until I can find a better vehicle of investment on the horizon
that can "promise" me a far better return than this one. Mind you, you
can for the time being treat this one as your saving or FD account. But
once the fund has sold out, you have not the liberty to buy and sell. You can
only sell and until you find another seller, then only you can buy into it.

Please don't forget the power of compounding in AS1M!

AND the ONLY time I will / may cash out is when the stock market melts
down like recent past or better still like the 1997 financial crisis, and then only
it's better to move on into the stock markets' blue chips for better / faster
return.

Cheer up. It's not the end of the world. When our KLSE index is at it's peak today or rather latest before Labour Day holiday at 1,346.38 you can trust me and KEEP your cash as CASH (F.D. etc.. liquid) History has told us what goes up have to come down. Last time it was the subprime mortgage crisis that broke the camel's back. Today, Greece financial deficit is brewing up another crisis which may be starring at us right our faces. EU is panicking and any slight jerk is going to send down the house of card like anything else. Look at what Goldman Sach is doing to Dow Jones yesterday! And Greece is NOT the only country in trouble. Portugal, Ireland and Spain (PIGS) are right at the edge. The West are working overtime to plug the leaky financial holes to stop the Greek domino from slipping down the stairs!

Who knows if those clouds on the horizon will whip up another storm like Sept 2007subprime or worse still like our 1997 meltdown! If I were you, I'll start to build up my cash pot and at the same time do some homework and look for a few bluest of the blue chips to park my cash when the market is hit real hard. If you can get to the near bottom and fished out a few good stocks your investment may double over the next 1-2 years if market floats the "day after". Mine, timing not so good, still make slightly over 50% today on paper as compared with what's 1 1/2 years back. I am preparing my exit from KLSE when to foreign fund managers moves in. So far they have not done so in any great way.


So where do you think you are going to park your money now that AS1M's door is closed?

Yea, It's good to think positively. Hope I had just a bad dream and not materialised into another nightmare. I have been caught once and that's why I say, never be too sure. In 1997 our KLCI had reached its peak at around 1267 ?? more or less and before you know you were hit. The worse thing is you never know what hits you and how hard its going to hit. We were looking hard at HongKong's economy then when the bubble there was huge. without knowing that the rouge funds were biting off our tails. By the time we knew, George Soro almost asked Mahathir to see him at 5 (Five)!!! He meant 1USD : 5RM?

But I sure know I(now) that its painful to see your portfolio shrunked to the size when KLCI dropped from 1267 to slightly over 300!! The most painful part is it took 10 (ten) long years to get us up to KLCI of over 1200. And in less than a year we were back down to 700's level. We are luck that we recovered in a year to a year and a half.

I too agree that PIGS are relatively small countries. But you must remember they are part of a huge economic community.. the EU. The small ones can drag the bigger ones down too! Just throw in this one for brainstorming.