I DON'T CARE WHAT PEOPLE SAY ABOUT PNB UNIT TRUST.... IT IS AMONG BEST MANAGED FUND IF NOT THE BEST IN MALAYSIA...
WHO WILL GIVE YOU AVERAGE 6 - 10% DIVIDEND RATE (NON BUMI LAR, ASB FOR BUMI ONLY!) EVEN IN THE BAD ECONOMY TIME. PNB CAN PAY AROUND 9 - 12 % EVERY YEAR BUT INSTEAD PAY 6 - 8 % AND KEEP THE REST AS RESERVED FOR BAD YEAR. IF I IN THIS POSITION, I WILL USED UP ALL THE MONEY IN THE GOOD YEAR FOR MY ENJOYMENT...HEHEHEH

ANOTHER STORY, SOME OF MY FAMILY MEMBERS HAVE LOST THEIR MONEY IN THE "BANK BACKED - UNIT TRUST FUND". THEY ARE VERY ANGRY. BUT HOW TO COMPLAINED, THEY HAVE SIGN THE AGREEMENT & STUCK WITH IT. LUCKILY I DIDN'T JOIN THE UNIT TRUST.

SO THE CONCLUSION IS TRY TO SEE FIRST THE UNIT TRUST FUND. YOU CAN SEE THEIR PROSPECTUS AT THE WEBSITE. READ THE FIND PRINT. DON'T LISTEN TO PEOPLE. THINK YOURSELF. YOUR MONEY YOUR DECISION.

IF YOU A RISK TAKER, JUST INVEST AROUND RM100 (MIN) - RM1000 (MAX) FIRST AND SEE THE PERFORMANCE OF THE AS1M FUND (NOT RECOMMENDED TO OLD PEOPLE / WARGA EMAS / PENSIONERS / HOUSEWIVES ETC.)


HAPPY INVESTING PEOPLE...
THANK YOU.

I SAID NOT RECOMMENDED TO OLD PPL, HOUSEWIVES ETC. BECAUSE THESE GROUP NEED THE MONEY FOR THEIR DAILY EXPENSES. I DON'T WANT THESE PEOPLE TO SUFFER BECAUSE YOU WILL BE TAKING RISK. FOR OTHERS THATS WHY I RECOMMEND ONLY RM100 - 1000 FOR INITIAL INVESTMENT. I'M A MAJOR DEGREE IN FINANCE AND BANKING, SO I KNOW THE RISK IN OPEN ENDED UNIT TRUST & CLOSE ENDED UNIT TRUST. THE HISTORY OF THESE TYPE OF FUND IN THE OVERSEAS MARKET ETC. I HAVE KNOWLEDGE THESE IN 1. MONEY & CAPITAL MARKET 2. INVESTMENT ANALYSIS 3. MANAGING BANKING & FINANCIAL INSTITUTION (MBFI) WHICH I STUDIED IN UNIVERSITY.
(DON'T WANNA TO TALK MORE BCOZ U ALL WILL THINK I BERLAGAK NAK MAMPUS)

HAPPY INVESTING
THANK YOU




DISCLAIMER: I'M NOT A AGENT WHO PROMOTE THE PNB UNIT TRUST, WORKING IN BANK NEGARA MALAYSIA, SECURITIES COMMISSION (SC) OR OTHERS FINANCIAL INSTITUTION IN MALAYSIA.

"YOUR MONEY YOUR DECISION"

Thursday, August 06, 2009

Malaysia-Finance Blogspot

Decoding PNB's Investment Strategy Ahead

Time to try and decode PNB's investing strategy, as some have voiced concerns over its last few fixed priced funds, and its ability to maintain those returns. Some of the information have been extracted from articles in The Edge.

Four of the 10 PNB funds are known as fixed-price funds where the price per unit is fixed at RM1 regardless of how the market performed. There is a history behind this practice. The first PNB fund, Amanah Saham Nasional, was launched as a fixed-price fund in 1981 but it reverted back to market pricing in 1991 as per the trust deed. Soon after that, Amanah Saham Bumiputera, a fixed-price fund was launched in 1990 for investors not accustomed to market fluctuations. Altogether, there are four such funds by PNB.

Fixed-price funds are practically risk-free as investors get back whatever they put in if or when they redeem their investments. On top of that, you get generous returns of 7% to 8% every year. It is a very good deal indeed but on the other side of the coin, the actual value of the underlying investments is unknown, unlike other unit trust funds where you know the value of your investments at any point in time. The balance sheets of fixed-price funds are not disclosed in their annual reports, and the Securities Commission, the body governing the unit trust industry, grants these funds various exemptions from its guidelines on unit trust funds.

How can a fund keep paying 6%-8% a year in dividend, invested 60%-90% in local equities, and will always have a fixed price of RM1 NAV. You cannot get that anywhere else, can you? Is anybody even a bit curious? PNB is not almighty. What about the 1997-1998 Asian crisis, the Internet meltdown, the 9-11 period, the SARS debacle, and the very recent subprime global meltdown ... surely we all saw that equity prices were hammered for an extended period.

The way PNB would argue is that they do income smoothing, or something along those lines. That in good year, say they get an 11% return, they will keep some of the gains and declare only 7% in dividends. The excess would go into a special performance account to top up future years that they do not have stellar dividends. That sounds alright except that you still did not know the exact real NAV of these funds.

PNB could very well be paying 6%-8% dividend every year on these fixed price funds but the real NAV may be deteriorating below RM1.00, and we don't know because its not known. Should we be concerned if the actual collective real NAV of these fixed priced funds were to be say RM0.97, RM0.93 and RM0.88 for 2006, 2007 and 2008 respectively??? We can only assume that their real NAV is healthy.

In good or bad markets, the funds have consistently returned steady dividends in the high single digit. But the fact is, the returns are lower today than in the 1980s and 1990s when dividends and bonuses were in the double-digit realm (as high as 20% for ASN in 1981). But no one is complaining about the 7% to 8% annual return today considering that investments in the fixed-price funds are essentially risk-free — you get your principal back when you sell your units.

PNB is a unique institution. I can understand how they can generate double digit return in the early years (PNB was established in 1979). Pernas, which had been acquiring public-listed companies under foreign control, was compelled to transfer 13 of its companies, including Sime Darby Bhd and Malaysia Mining Corp Bhd, to PNB at cost. Malayan Banking Bhd was transferred to PNB after Bank Negara Malaysia stepped in to restructure the bank in 1967 following a bank run, which wiped out 40% of its deposit base. PNB also benefited from grants and interest-free loans from the government to facilitate the acquisitions. By 1989, PNB had transferred to ASN sizeable stakes in various listed entities. Similarly, ASB’s assets comprised those transferred from PNB. Furthermore, as a bumiputera institution and one of the biggest institutional investors in town, PNB is said to have been allotted shares in companies en route to listing at attractive prices, given the need to meet the 30% bumiputera shareholding requirement.

In the 90s PNB still had its channels as many big companies got listed, and IPOs generally performed outstandingly during the early 90s bull run. Over the last few yers, these mega IPOs have dried up. PNB will now have to rely on corporate finance and restructuring to generate value to its stable of companies. Hence, arguably, the Sime Darby's mega plantation scheme is the start of many more projects under PNB's auspices. PNB will now have to consolidate its stable of companies, put them into synergistic groupings to create more value. All that is very necessary to continue to support these fixed priced funds that still give 6%-8% dividend income every year and can always be redeemed at RM1.00 par.

So, the scepticism over PNB's ability to maintain these returns is genuine and needed to be asked. As to whether they can do it depends on execution, the advisors they have, and how astute they are at not just managing funds but including appointing the right people to manage the synergies and put the collective resources to work. Sime Darby is still digesting the huge plantation firms acquired. It is imperative that PNB maintain a very high standard of professionalism in its retention of top management executives in running these merged entities. PNB has to minimise the political interference to have political appointees - it has to manage with clear transparency with global best practices as their mantra.

The next big project for PNB has to be its many property companies under its stable. PNB have SP Setia and Mah Sing, and its stakes in these companies have been "rising strategically". In contrast, PNB has accumulated almost 20% in Mah Sing and has direct and indirect interests of close to 32.9% in S P Setia. Another company that PNB has bought a stake in is I-Bhd, where it has 18.1%. Sime Darby Property could be better placed in a property conglomerate as it has the largest landbank in the country. Sime Darby’s landbank in the Klang Valley stretches from the Guthrie Corridor in the north of Selangor, to Putrajaya, Seremban and Port Dickson. The 37,000 acres in its landbank is about as big as Kuala Lumpur and three times the size of Putrajaya.

PNB took Petaling Garden Bhd, Island & Peninsular Bhd and Pelangi Bhd private between 2005 and 2007. The three collectively own 7,200 hectares of land. Apart from land, PNB also has buildings in prime locations that can easily be packaged into a real estate investment fund (REIT). Within its fold is also Syarikat Perumahan Pegawai Kerajaan Sdn Bhd (SPPK), which has a good property development record. Because of its huge landbank, Mah Sing and S P Setia are said to be possible vehicles for PNB to unlock value.

It looks increasingly like PNB want Sime Darby to concentrate on plantations. Hiving off SDP to a merged Mah Sing-SP Setia vehicle would probably yield great value to Sime Darby and ramps up PNB's control in Mah Sing-SP Setia. PNB holds about 53% stake in Sime Darby, which wholly owns Sime Property.

Imagine if PNB injects the three property developers – Island & Peninsular Bhd, Petaling Garden Bhd and Pelangi Bhd – all privatised between 2005 and 2007, as well into the merged SPSetia-Mah Sing vehicle. Its a mega property concern for sure. The good thing is that it can consolidate its landbank in one major masterplan and plan much better strategically. It will be much better capitalised as well to venture into new markets with various "brands" for the right markets.

I doubt very much PNB will take SP Setia or Mah Sing private. Injecting what they have into SP Setia-Mah Sing would make much more sense. The whole shebang would require massive amount of capital for development and venturing into new markets, you wouldn't want to take that onto PNB's balance sheets as we could be talking in billions of ringgit every few years.
Other institutional shareholders of SP Setia include the Employees Provident Fund with 12%, Capital Group of the US also with 12%, and other foreign shareholders which hold another 14% in the company. On June 18, SP Setia announced the appointment of two nominees of PNB – Tan Sri Wan Mohd Zahid Mohd Noordin and Datuk Noor Farida Mohd Ariffin – as its new non-independent and non-executive directors. SP Setia’s two executive directors – Khor Chap Jen and Teow Leong Seng – resigned from their positions on the same day. However, both remain with the company in their existing capacity as executive vice-president in charge of property division (central) and executive vice-president/CEO of international business development respectively.

Not only in KL Sentral, all the branch in malaysia have same problems.... My place even worse, they see people, if they have "big account" at the branch, they will be getting something "extra services" like VIP passage for opening unit trust, sukuk, etc. which means even you 1st person in the bank to open unit trust, these "VIP" transaction will be first to process then only others. They will halt the transaction for unit trust for people waiting in bank and give this "VIP" first. They will say system down, etc. only after 20 - 40 minutes then others can do the unit trust transaction.... Think about it... My parents told me this when they are waiting to open asw 2020 recently. This branch in rural area....

Today went to invest in AS1M... don't know what to say, there are long queue for doing the AS1M transaction! after took the number, waited almost 1 hour ++ then only can do the transaction. I don't understand, people say AS1M not good, People don't want to invest etc. but in this Maybank branch lot people waiting to buy????? Don't know what to say lar........
hmm

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Added on August 11, 2009, 11:30 pm1.6B UNITS OF AS1M TAKEN UP ALREADY

PUTRAJAYA, Aug 11 — Pemodalan Nasional Bhd’s (PNB) Amanah Saham 1 Malaysia (AS 1Malaysia) has sold 1.67 billion units, its president/chief executive officer, Tan Sri Hamad Kama Piah Che Othman, said today.

He said the response to the fund was encouraging with subscription on the first day of sales exceeded that sold by other fixed funds like ASW 2020 and ASM.

“If you compare with ASM and ASW 2020, this product is better. On the first day, it sold 1.4 billion units.

“Compared with ASM and ASW 2020, the response was encouraging,” he told reporters after the finals of Investment Quiz Contest PNB 2009 (Secondary Schools) and PNB’s Smart Investment Club Debate here today.

AS 1Malaysia, with approved fund size of RM10 billion, is offered to Malaysians aged 18 and above at RM1 each.

The public can invest in at least 100 units.

For those aged under 55 they can buy a maximum of 50,000 units and 100,000 units for those aged 55 and above.

Prime Minister Datuk Seri Najib Tun Razak launched the fund on July 31, 2009.

Hamad Kama Piah said for the Chinese community its quota was 50 percent sold.

“This is unlike other unit trusts sold by PNB where the quota for the Chinese community would be taken up within two days of the launch,” he said.

He said the reason could be PNB benchmarked the fund’s returns against the average five-year Malaysian Government Securities yield, which currently has a trading yield of 3.73 per cent.

For ASW 2020 and ASM, he said, PNB used the three-month Kuala Lumpur Inter-Bank Offered Rate.

“When they understand the situation, I hope they will continue to invest and not wait until the last minute,” he said. — Bernama

This post has been edited by davinz18: Aug 11 2009, 11:30 PM

Only one thing can I say about low take up rate among non-Chinese (esp Indian, Bumi won't be thinking of investing because ASB give very2 high dividend every year). The Indian quota won't be finishing anytime soon even after the 30 day promotion period. The Indian people don't have anymore money to invest. Deepavali is around the corner, and most companies won't be giving any bonuses this year / reduced monthly salary because of economic situation. Children will be going school next year, need money for them. Another more, most Indian average salary is only around Rm300 - RM2800, depending on the work they do. ONLY FEW HAVE BIG SALARY (ie Rm10,000+++). So you all can calculate how much the investing power of Indians. SORRY, BUT THIS IS THE TRUTH.

The unusual slow take up rate among the Chinese is because:
1. Wait and See attitude
2. News going around telling AS1M paying only 3.7 - 4% dividend per year
3. Money@savings have finished because have invested in Sukuk, ASM (1st round), ASW,
ASM (2nd round-bumiputera qouta open to all)
4. Other economic factors


Happy Investing

Thank You.

PNB Announces 6.3 Sen Income Distribution For ASW 2020

KUALA LUMPUR, Aug 19 (Bernama) -- Permodalan Nasional Bhd (PNB) on Wednesday announced an income distribution of 6.3 sen per unit for Amanah Saham Wawasan 2020 (ASW 2020) for the year ending Aug 31, 2009 as against 7.0 sen per unit in the previous year.

Its chairman Tun Ahmad Sarji Abdul Hamid said the income distribution involved a total payment of RM592.26 million.

"It will benefit 872,322 unit holders who currently hold 11.01 billion units of ASW 2020," he told a press conference here.

ASW 2020 unit holders will receive their income statement from the end of October.

Up to Aug 17 this year, ASW 2020 recorded an income of RM661.28 million, an increase of 12.62 percent from the RM587.18 million posted in the previous corresponding period.

Profit from the sale of shares contributed RM311.27 million or 47.7 percent while dividend income from investing companies RM223.69 million or 33.83 percent and interest and other income RM126.32 million or 19.10 percent.

Meanwhile, PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said PNB sold 14.5 billion trust units in the first eight months of this year.

Of the amount, 7.7 billion units were subscribed by Bumiputeras and the balance of 6.8 billion units by non-Bumiputeras.

"As a whole, since PNB launched Amanah Saham 1Malaysia (AS 1Malaysia) and increased the units of ASW 2020 and Amanah Saham Malaysia (ASM), it has sold 14.5 billion units," he said.

PNB currently manages funds totalling RM120 billion.

Asked on the progress of AS 1Malaysia, Hamad Kama Piah said 1.962 billion units had been sold to date.

"Even though, its sale was quite slow, the demand for AS 1Malaysia was better compared to ASW 2020 and ASM," he said.

ASW 2020 sold 70.18 million units on the first day of its launch on Aug 28, 1996 and ASM 173.6 million units when it was launched on April 20, 2000 while AS 1Malaysia touched 1.08 billion units on its launch on Aug 5, 2009, he said.

He added that for AS 1Malaysia, about 56 percent of the Chinese quota had been filled, representing 1.66 billion units.

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Added on August 19, 2009, 4:11 pmThe Lowest dividend rate ever in ASW 2020 history!!! what happen to the 7 - 10 % dividend rate??
I'm very angry with the management of PNB... how do they do business. first few month of 2009, the bursa malaysia bluechips shares are trading higher than last year and with that they only give a mere 6.3%... they can give 7 or 7.6% izzit.......

No more Happy Investing....
thank You

This post has been edited by davinz18: Aug 19 2009, 04:11 PM

ASB this year:- 6.3% + 1.7% bonus.

True on ur statement, but a mere 6.3% for 1 year lot of people are hoping for higher return on investment. The brand name of "PNB trust fund" have some kind of premium over other trust fund in malaysia. So most people are hoping for the best. You can see on the day of opening of ASW2020 & ASM, lot of people investing. My target for ASW 2020 is around 7% - 10% dividend rate, if can max 12% (which is not going to happen anytime soon)

Any suggestion If you are "so good" in giving advice to people

This post has been edited by davinz18: Aug 19 2009, 11:21 PM

If this is the case which Chinese quota is not finish by 3rd Sept, the bumi quota will not finish forever and Indian quota maybe finish around 5 - 8 months (given the cap is still 50,000/100,000 per account ) if not maybe finish earlier for Indian. Bumi as usual forever won't finish like ASW 2020 Bumi Quota.

True, but PNB CEO told yesterday that if the bumi people participation on AS1M is increasing, then PNB may consider keeping the Quota. Not sure if only the bumi quota are retain or all the race quota. If they only retain the Bumi quota, then it will be like ASW 2020. AS1M will be 50% bumi, 50% non-bumi if PNB retain the bumi Quota.

Not only that, Deepavali also is around the corner. The Indian Quota also maybe cannot finish by 3rd Sept. You see only 56% finish for Chinese and a mere 12% for Indians. As what I said before maybe people savings are "dried up" because of too much Government link funds have come out in the past 6 months ie Sukuk, ASM 1st round & 2nd round (bumi portion opened up to all), ASW 2020 & now AS1M.

This is Malaysia my friend everywhere got quota.....

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".

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

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

FUND INFORMATION
Name of the Fund : Amanah Saham 1Malaysia

Manager: ASNB

Investment Manager: PNB

Category of Fund: Equity

Type of Fund: Income

Initial Offer Period: 30 days from the date of launching of the Fund. No redemption is allowed during this period.

Initial Unit Price: RM1.00.

Price Per Unit:
The price of AS 1Malaysia unit is fixed at RM1.00. However, AS 1Malaysia is not a capital guaranteed fund as defined under the Guidelines.

Investment Objective:
The Fund seeks to provide regular and consistent income stream whilst preserving the unitholders’ investment capital over a long term horizon through a diversified portfolio of investment.

Principal Investment Strategy:
The Fund will invest in a mix of assets comprising primarily in
equities, fixed income securities and other capital market
instruments to generate the expected competitive returns at
reasonable risk level.

Asset Allocation: Equity allocation:
-Maximum - Up to 90% of the Fund’s VOF.
Fixed Income, liquid assets and other capital market instruments:
-Minimum - 10% of the Fund’s VOF.

Performance Benchmark : Average 5 years MGS yield

Principal Risk of Investing:
We would distribute the income, depending on the performance of
the Fund which may vary from time to time. Among the potential
risks associated with AS 1Malaysia are as follows:
-Market risk
-Credit Risk/Default Risk
-Currency Risk
-Individual Asset Risk

Investors’ Profile:
Investors who:
-Have a medium to long-term investment horizon.
-Understand investment risk and reward.
-Seek regular income (if any) for their investments.

Approved Fund Size: 10 billion units.

Financial Year End: 30 September

Eligibility:
-Malaysians age 18 years and above.
-Others as specified by the Deed.

Deed 25 June, 2009

Unit Allocation The Manager has the absolute discretion to offer the units in any
manner deemed appropriate

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Added on August 26, 2009, 10:12 pmTRANSACTION INFORMATION - AS1M

Minimum Initial Investment:
Investment Book- 100 units.

Maximum Investment:
Unlimited. (However, during the initial offer period the limit is 50,000 units
per unitholder. Also, for those aged above 55 years old during the offer
period the limit is 100,000 units per unitholder. The Manager has the
discretion to impose any individual limit during initial offer period or any other period determined by the Manager).

Minimum Additional Investment:
Investment Book- 1 unit

Minimum Redemption:
Investment Book- 1 unit

Maximum Redemption:
Unlimited, but minimum balance of 100 units to be maintained, otherwise
you must request for total redemption.

Frequency of Redemption:
Unlimited.

Cooling-off Period:
Nil.

Payment of Redemption Money:
On-the-spot. ASNB provides on-the-spot transaction at ASNB offices and
appointed agents.

Salary Deduction:
Allowed. This facility is available only after initial offer period, subject to
availability of the Fund.

Switching Between Funds:
Not Allowed.

Distribution Re-investment Option:
Allowed. Re-invested as additional units of AS 1Malaysia in your AS
1Malaysia account, at RM1.00 a unit, subject to availability of the units of the Fund.

---

Added on August 26, 2009, 10:16 pmINVESTMENT POLICIES AND STRATEGIES
Investment Policy

• The investment policy of AS 1Malaysia is to invest in a diversified portfolio of listed securities, on the Bursa Malaysia or on recognised overseas stock exchange, unlisted securities, fixed income and money market instruments as well as other capital market instruments in Malaysia, and in any recognised market as approved in the Deed of AS 1Malaysia.

• The Fund may also invest in fixed income securities carrying at least “BBB” rating by RAM or MARC for domestic issues, or by international rating agencies such as Moody or Standard and Poors for international
issues.

Investment Strategy
• To achieve the Fund’s objective of providing regular and consistent return, whilst outperforming the 5-year MGS return, the Fund will diversify its investments among asset classes between equities, fixed income and
other financial instruments depending on the country’s economic situation, stock market conditions, interest rate movements and other relevant fundamental factors. The Fund stresses on diversifying its portfolio
through asset allocation in equities, money market and fixed income securities. The strategy is to preserve the value of the capital and generate competitive returns in the long-term.

• The investment in equities may include primarily blue chip stocks as well as high yielding and value shares which could generate more regular income stream and maintaining the volatility of portfolio at reasonably low
level.

• The Fund may also diversify its portfolio into international markets as permitted under the Guidelines and by its Deed to mitigate its risk level as well as to generate enhanced return to the Fund.

• Country allocation is done via top-down approach based on economic factors such as economic growth, interest rates, currency, as well as other fundamental factors such as market valuation, earnings growth
potential and expected returns from the country.

• Sectors are selected by adopting a top-down approach in sectors with growth potential and higher returns.

• The Fund adopts a bottom-up approach in stock selection. Stock selection for listed and unlisted securities will be based on fundamental analysis of the companies, which include among others the financial strength, management capability, prospects of the industry as well as its business cycle.

• The selection for fixed income securities is based on the interest rate outlook, potential returns, investment ratings, tenor and yields at reasonable level of risk.

• The risk of the Fund is actively managed through diversification of the portfolio in terms of asset allocation, country allocation and sectoral allocation. The risk is minimised through the exposure limit in equity as well as on the sectoral and company weightings depending on the economic and stock market conditions. The Fund adopts an active trading strategy through portfolio rebalancing depending on the expected risk and
return on securities invested and changes in the market.

PERFORMANCE BENCHMARK

The performance of the Fund is benchmarked against the performance of other instruments that have similar features with that of the Fund. Being a fixed price fund, the return to unitholders of the Fund will mainly be in the
form of the Fund’s income distribution yield.

The return will be benchmarked against the average of 5-year MGS
yield which can be obtained at Bank Negara Malaysia’s (BNM) website and Bloomberg.

This post has been edited by davinz18: Aug 26 2009, 10:16 PM

Still a lot available for Subscriptions by Malaysian public. Chinese quota is finishing little fast...... still 40% chinese quota available... Indian still have 80% left, Bumi still have 90% left.......

According to friend, this is the only information available now...... Not sure it the latest..