AMB pushing to sell Dana Aqeel fund

Amanah Mutual Bhd (AMB) aims to sell between RM400 million and RM500 million worth of units in its Shariah compliant Dana Aqeel (capital protected) fund (DAQ) following the success of the first issue.

DAQ2 is a close-ended fund with a maturity period of three years will end on April 21, 2017, and unit holders holding the units to maturity will enjoy 100% capital protection.

DAQ2, which is opened for subscription for 45 days from yesterday until April 19, 2014, offers two classes, the first being Class MYR where units will be offered at RM0.50 per unit while the second is Class SGD where units are S$0.50 (RM1.29) per unit AMB plans to invest at least 85% of DAQ2 net asset value into sukuk and Shariah-compliant money market instruments, 13% in Shariah-compliant equit ies and 2% in Shariah-compliant deposits.

http://www.ambmutual.com.my/ambdaq2.htm

Thanks.

Went through the web site looking for the return of this fund. Can't find it. Do you know what is the expected return?

Cheerio.

According to news report,  The CEO expect more than 13% cumulative return for this second series. The 1st one yielded a total cumulative return of 11.98% to investors.

http://themalaysianreserve.com/main/news/c...dana-aqeel-fund

EPF able to give xtra 0.20%
I c no reason y ASM can't give xtra 0.20% to 7%

If I read it correctly, it means 11.98/3 = 4% average pa.

My aim is higher than 4%.

Thanks for the update.

I thought ASM last year gave 6.50% only?

need to double check myself again..

I thought ASM last year gave 6.50% only?

need to double check myself again..

So 1st April onwards can try "luck" in ASM units

If I read it correctly, it means 11.98/3 = 4% average pa.

My aim is higher than 4%.

Thanks for the update.

Some calculation for sharing:

To be more precise, if cumulative returns of 11.98% for 3 years, the annualized returns is 3.84% p.a. (rounded to 2 d.p.), i.e. 3.84%p.a. compounded for 3 years, you will get cumulative 11.98% returns. 

You can get these kind of ROI calculation with Excel formula with the above example : "=RATE(3,0,-100,111.98,0)"

4% compounded 3 years will give you 12.49% cumulative returns.

Chance to top up is gud

it's 6.5+0.3 

0.3sen is "special income distribution" @ "bait" for u know what in May 2013 

Due to my poor planning, not much bullets available for this hunting (tied up in FDs).

U need to make calculative decision whether to withdraw or not

Good point. The one with the "oldest" maturing date can be considered but I will loose out on some $$.

If I could get 1/3 of this FD amount into ASM, then I will break even with my earlier FD termination.

Think, think, think, ....

Thanks for the pointer.

Cheerio.

If u can spend whole day @ ASNB, chances to top up is almost 100% (depend on quantum)

this may make you guys cringe a bit