Great...

Ponder on this ...

If A managed to get a lot of ASM this year, then A will be getting an EXTRA FREE 2.2% dividend in 2015!

Wah, I should go and try everyday and every hour now. Just kidding lah.

But the extra 2.2% is true for the new units bought in 2014. Getting someone's else money in some way.

Cheerio.

Are u a new investor? PNB has been practicing this carry forward thingy for most of the funds. Next year some % will be carried forward to 2016, etc., etc., etc..

now, one thing being really curious.

See, last year, the do this same thing, this year suppose to be carry last year extra dividend. But they don't. Its not like this year they have deficit and that they cover with last year leftover. But what they said was they have the ability to give out 8.8 instead of 6+. Now where is the last year left over?

I not sure last year sharing the same phenomenon like this year which having extra 2+ or not. But I do know they have this habit.

this thing (carried forward) are normal to ASNB fund...

However, the customer may loose the dividend (not all customer will maintained the investment, we might withdraw it this year thus will not entitled for the dividend as the req for the dividend is the minimum balance)

after adding the 2.2%, they will carried forward x.x% next year...trust me...

C/f formula is (i) b/f @ 1/4/13 + (ii) current yr profits - (iii) current yr dividend = c/f @ 31/3/14

that's the risk unit-holders need to face if withdraw. That's the bad thing of c/fwd the income to next financial year

Great

I suppose investors can't have double edge sword
Fixed pricing with c/f element -v- variable pricing with exact Nav (w/o fear of sharing profits with new/future investors)

I think people are confused with this carry forward thingy. 2.2 sen carried forward to the next financial year does not translate into an absolute amount. Yes such funds retain its intrinsic RM1 value but every time dividends are disbursed, the unit in circulation "increases" due to the fact that all dividends are reinvested automatically into an account holder's account.

So, 6.6 cents for 2013 may cost PNB/ASNB say 950million but to have the same 6.6 cents for 2014 when the fund has somehow "organically" grown due to dividends/compounding effect may cost more than 1billion. That's why I believe that when say 2.2 cents is carried forward, it does not absolutely translate 1 to 1.

Also, it isn't necessary that when a portion of the returns is carried forward to the following year, it'll be used in that particular year. PNB/ASNB is known for it's so called mantra of "consistent and competitive" returns thingy it may have been allocated to a "pool" that will be used when the next economic cycle comes into play.

Given that economic cycles "seem" to come in 7 to 10 year cycles and the last one was the great financial crisis of 2008, I'm of the opinion that whatever savings brought forward could easily be used up during an economic downturn given the fact that the fund sizes are huge (mostly in billions) and also the fact that whatever happens behind the scenes, PNB/ASNB is required to honour the RM1 valuation even IF the actual NAV for funds during an economic crisis may actually be less than RM1.

Just my 2 cents...

Assume ASM didn't generate any income in FY15, ASNB can declare 2.07% dividend based on 2.2% c/f sum

But when u first invested, u also gained from the amt carried forward from previous year, so it is even.

kinda "deep" opinion I would say

don't say like that It's make me kinda sad to see No income for FY15

Wat I meant was if investors keep 2.2% this year, they won't receive same % next year

yeah, it's because the fund size have increased via reinvestment of dividend

Althought PNB didn't give out a return as what has been expected by many over here which is at around7%, we should still be happy with the dividend rate that they have declared as its still higher than kwsp's rate. So yeah I guess we should be happy with it.

Agreed. It's also higher than FD rate given by most banks

Status ASB2 diumum awal bulan depan
http://www.bharian.com.my/bharian/articles...ndepan/Article/