Those who are familiar will know that ASNB's mantra is "competitive and consistent returns" which is why they are the very few fund managers that c/f earnings to the next financial year. They may not win many awards or have bumper yields often but they have the track record of providing returns year in and year out.

A lot of people miss this point and just go for those with recent high returns or has 5 stars/rating funds

If you're looking for decent, stable returns with low risk, ASNB's funds are it. If you really want to chase double-digit returns, go for hedge-fund terus lah lagi power

I've been saying it for a few threads now (since V4 I think), it's highly unlikely that they'll be ALLOWED to issue anymore new fixed priced funds or allow for the funds to grow other than via dividend distribution. ASB2 in my view was a freak of nature, pure luck. Najib just went against BNM and SC to entice the younger gen-y group.

Fixed priced funds provide too much systemic risk towards the local stock market. In the event of another 97/98 were ever to happen again, it would be too much of a strain on PNB/ASNB's finances to honour the RM1 per unit valuation when the actual NAV drops below RM1. Remember, their assets under management or units in circulation now is much, much larger now than it was almost 16 years ago.

I've read somewhere that some guy did some calculations and all of ASNB's fixed priced funds if added together actually represents about 300+ points of the KLCI. So in theory, if another 97/98 were to happen again and people withdrew from the local stock market the same way that people did back in 97/98, KLCI can lose 300+ points just from 1 fund manager alone

If you can understand this point that you'll understand why we all have to live with the existing fixed priced funds and its current size limitations


ps: I've also heard rumours that SC may also consider stopping PNB from paying dividends in units to stop the fixed priced funds from growing any larger

That's correct. Having 300+ points being wiped out from a single entity is no joke and would severely affect market sentiment

So true. Far too many people under-estimate this. Have you ever wondered why PM funds are only in the range of RM1 to RM2billion only? The larger the fund the harder things get as one has to manage the equity to look for profit or minimize losses and also balance the need for cash to honour redemption request from people

Year end school holiday trip, children's wedding, covering margin calls due to increased OPR/BLR.... Can be so many number of possibilities.

Housing loans, personal loans, ASB loans, etc2... Basically anything with a variable interest/financing rate will require margin call(s) whenever the OPR goes up. Margin call in its easiest explanation is topping up the balance due to the bank when the instalment amount increases due to rising interest rates. Normally the bank will advise you on the amount difference and you either have the option to either pay the new instalment amount or extend the tenure of your loan should you wish to stick with the previous instalment amount.

Funny how arm-chair-keyboard-warrior-economic-experts so easily comment on something without knowing what they're doing. Sekali dapat reply lagi panjang than that's what you get for trying to show the world how smart you are

Yeap, totally agree. While you're at it, might want to fix your keyboard too unless it's your intention to annoy everyone.

I was in Menara PNB yesterday to see a friend working with CCM and overheard some of the staff chatting about a topic that my fellow non-bumi customers here may be interested in.

It seems that come January next year, ASNB is planning to launch their own internet banking portal but unlike the existing M2U/Clicks platform, it'll be open to all funds (variable & fixed) not just ASB but also funds like AS1M, ASM, ASD, etc2...

If ASNB does provide that service than I believe everyone can rejoice, no need to queue up anymore. Can try luck from your own PC/laptop although I hope they are prepared for the mass inflow of people "fishing" for units heheheheheh

This post has been edited by hyelbaine: Oct 29 2014, 11:17 AM

Depends. If they use payment gateways like FPX than the customer's money is deducted straight away at the point of the transaction itself and should be credited into ASNB's collection account also at the same time.

But as someone posted above, better to even wait 1 day for a transaction to clear rather than having to take leave to try or face agent banks to try your luck right

Judging from the amount of posts here (now already what version pun tak sure) I think the portal can automatically become 3rd most heavy internet financial portal after M2U and Clicks. Hope they're not underestimating the volume from all the "fishermen" out there

No, I don't think it's new units. The funds are deemed as fully subscribed but in theory it can never be 100% all subscribed as there are transactions affecting these fixed priced funds everyday. Unless no one sold a single unit on that day, than the fund can be theoretically be 100% fully subscribed.

Personally, I think it's the same queue system as is practiced right now just that you can do it at your convenience rather than having to go to a branch physically. This is also why I used the theory that they use FPX and not IBG for their payment gateway.

I may be wrong though but for now it's pure speculation. For most I think, having the opportunity to go "fishing" without having to go to a branch is already a welcomed relief right

Nope. Existing investor's value invested does not change after a unit split. You may now own more units initially but the total value is still the same. Companies do unit split or bonus/rights issue or others of similar nature is to attract new investors to buy into the fund given that the NAV is now more affordable.

Given how aggressive ASNB has been in promoting their variable priced products and how that portion of their business has grown hugely this past year, it's only normal practice that they do this.

Personally, there are 2 scenarios when it's good to buy into funds which already have track record in terms of income distribution as I'm not a fan of buying funds when they're initially launched even if they're cheap which is; when there's discount offered on the ISC and when unit split or bonus issue is done.

Year end family holiday trip, pre-register children for private college/university, take money to get into stock market after last week's technical correction, year end weddings, buy gold which seems to be the trend now, registering for expensive feng-shui based investment talk on next year market outlook, last minute buying of house or car before GST, etc2...

Take your pick

Get someone else to act it out for you but you submit the entry so if you win, than you get the prize and you belanja makan your 'actors'

Here's a sure win tip. Get your multi-racial friends in it and focus on AS1M.... CONFIRM sure menang hahahahhahaha

They're on social media now. Why not ask them directly rather than speculate

That's quite a lot to be carried forward. Do they know something about the stock market next year that we don't? I've heard that fund managers think as far as 6 months ahead of the market but carrying forward that much is quite intriguing

On a personal note, I'm surprised that this fund can give such a return. I mean it is a balanced fund and given how much the fund itself has grown over the past year in terms of size, it's a pretty decent return.

Comparing fixed and variable priced funds is just not right. Both cater to different risk appetites and both have different distinct characteristics

Either the lady is not in the know or what I overheard wasn't true. None the less, that lady should learn to give a proper corporate answer rather than an outright no. Malu lah say outright no when in fact it may be in the planning stage or whatever