i have already posted the info in my earlier post. Pls refer it or u can visit the official website at www.asnb.com.my

Happyribbons: "means, all i need to do in post office is queue up, bring my IC and money .. that's all ?"
if u buy in post office, make sure u bring cash, they do not accept cheque, for PNB agent's like Maybank/CIMB/RHB they dont accept cheque also, so u must bring cash or transfer from the bank accounts. PNB accepts banker's cheques.

You are not alone...
Me too feel a bit tak betul...

It would be ok if the government use it for stimulus pkg to stimulate the economy but not for "other purposes", china government has spend rmb 8trillion to stimulate their economy, same goes to European/USA government, but the thing is there is no transparency on how and why the government need to raise the fund??? and where the fund will use for? to promote unity and 1 Malaysia? then why impose quota like what we have in our local university education systems nowadays?

PM also annouce that 100 unit of AS1M will be given to all university 1st year students, this is something very fishy, why not given to all students including secondary & primary school students to encourage saving habit? (if the motive of the government is to encourage saving then it shd be start in primary school as this habit shd start young). Is that because the university students are mostly above 21 years old and they can vote in the next General Election. Sound like next GE is around the corner......

Like what others mentioned in this portal, there are too many funds raised from PNB for this year. 2bil of ASW, then 3.3 bil of ASM, and then 10bil of AS1M, all happened within a year, and this never happened b4.

This is najib 1malaysia fund? Imposing quota scared the non bumi will snap up everything? Come on, common sense will tell you they rather stick with ASB.

lolwut... that's RM100 only... I rather Najib give me RM80 in cash lol

somemore this is not capital guaranteed, more risks than any previous bonds/funds.

After reading so many negative feedback here.
I decide to hold my horse on this so called 1 Malaysia fund.
Rather consider invest on other method.

Just want to confirm, is it the AS1M fund ONLY 3.7%-4.0% annual interest? if it is ture then i think ASM and ASW2020 can give more % of interest, i thinking of taking it after August for the ASW 2020

Eh, i have always thought it's either Singapore or Hong Kong. I know so far Hong Kong is still preferable for some reason


Thought it is a capital protected fund with price of each unit fixed at RM1.00 ? No ?

To all sifus,

I am still new here and never posted on the thread before. I have some questions and clarifications regarding the 1Malaysia Fund and Amanah Saham Malaysia. I would be glad that some sifus here can help me clarify my doubts. I am still young (20 years only la so still a bit ignorant) so please enlighten me.

1. So, this 1Malaysia and Amanah Saham Malaysia is a fixed-price equity fund right? What does that means? Does it means that the price is fixed at RM1 forever? Even if we redeem our fund, the value we redeem is RM1?

2. If the price is fixed forever as in RM1 regardless of the investment performance, how does it make sure i.e. what type of investment strategy they take to make sure they don't lose their capital? For example, if our stock market drops 30%, the net assets value of the fund should also dropped around 30% depending on the portion of their portfolio on equities right? So, how they make sure that their net assets value does not drop? It sounds kinda impossible to me. So, any sifus here can clarify the strategy they employ? As far as I know, most capital protected fund run by private investment firm usually invest 90% of their portfolio in safe assets i.e a 10% per annum bond then the remaining 10% invested in high risk stuff like options and other derivatives so as to make sure the capital is protected in the end. Does PNB employ this strategy as well?

3. Do you all think that the information provided in the PNB annual report a bit too vague. I compared their annual report with other privately run unit trust. The annual report in ASM seems to be a bit vague compared to the private one. For example, it does not state their cost of purchase and the current market value of their investments. It just states the percentage of the fund is invested in a certain company. Do you think it is ok for PNB to be this vague in this report?



4. This is a clarification, the 1 Malaysia fund is bench marked against Malaysian Govt Securities(MGS)[It is like US T-Bills or can say it is our govt Bond ]. The MGS is yielding around 3.7% to 4% now. It is a benchmark. It means that it is a relative measure of performance for the fund manager. If they beat this benchmark, it means that they are successful in their investment. This does not means that the 1 Malaysia Fund will only yield 3.7-4%. As a matter of fact, the ASM that most people invest in, the benchmark is our KLIBOR which is about 2% but the ASM is still yielding 6-8%.

5. However, this leads to another question, does KLIBOR and MGS is the RIGHT benchmark to be used? For example, ASM invested around 60-80% of its NAV in local equities, shouldn't the performance be benchmarked against the Composite Index rather than KLIBOR and MGS? If our composite index is more apt, then why would they use the MGS and KLIBOR as benchmark? It is due to that it is rather easy to beat that benchmark? For example, to match KLIBOR, you just need to put your money in FD.

That's all for my long-winded queries, I hope all the sifus here can clarify my doubts.

The terminology is different following Securities Commission Guidelines.

Below is the full guideline:
http://www.sc.com.my/eng/html/resources/gu...8_cis_utGLa.pdf

And relevant extract



Funds like ASB, ASD are not allowed to be called Guaranteed Fund since do no not meet the criteria eg guarantee at a future predetermined date. ASB, ASD are always at RM1. Capital Guarantee means the price can fluctuate, is less or more than 1 at a particular time, but guaranteed at RM1 at maturity only.

In fact, its my view that ASB and ASD are much better in the way that they are always RM1.

So its rather confusing, layman would think RM1 all the time mean capital guarantee, which at a layman word is correct, but not at SC terminology.

---

Added on August 1, 2009, 10:48 pmI really think on this as well, which is completely true by looking at the asset class it invest. But it seems that the benchmark of ASM (and ASB as well) was KLIBOR more based on its characteristic that it can be withdrawn at any time at fixed price, ie very liquid almost like FD. So its more of the asset class of ASM and ASB on its own, rather than what asset class ASM and ASD invest in. However, I still wonder why they use MGS for AS1M.... Maybe since EPF invest most of its money in MGS?

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Added on August 1, 2009, 10:49 pmYup, ASB benchmark is KLIBOR as well.

This post has been edited by vergas: Aug 1 2009, 10:49 PM

Guys.... how can i partial withdrawal from ASM or ASW?
Can i go to the authorized banks or only the PNB hq?
Roughly how long will it take for me to receive the monies?

Feel sad for withdrawing but need the money for new house....

Stay away from AS1M fund. I can't find capital guaranteed nor capital protected clause in the prospectus. Maybe help me to double check again.
AS1M Prospectus

Neither does all the other AS* funds make any mention of capital guaranteed/protected in the master prospectus.

Check redemption part..The only not good is got 1% service charge when buying...

Snowball,

Read above posts and judge for yourself.

This is CONSISTENT with how Malaysian government works. If you cannot pass the exam, you lower the standard. Yes, ASM should be bench mark against balanced fund.

Dreamer

No, it should not be benchmarked against any balanced index. Because it is fixed price at RM1 + plus some distribution payout (which can be seen as interest).

In the worse case where there is no interest paid out that year, you still get your RM1 back on redemption. You can't say the same for a balanced fund.

It's not capital guaranteed fund. See the clause below in it's propectus.

7.1.1 Determination of Prices and Charges
The buying and selling price of AS 1Malaysia unit is fixed at RM1.00. However, AS 1Malaysia is not a
capital guaranteed fund as defined under the Guidelines.

It seems to me that AS1M is like unit trust that has fixed price and there is 1% of service charge on buying.

Hope I have time to get AS1M next week. Missed the boat on ASM recently. Sigh.

Thanks......

bbinn2008, can you please find out the capital guaranteed clause for ASM and ASW also ??

BTW, is there anyway to search the content of a pdf file ? Ctrl+F doesn't work on .pdf.


This post has been edited by aeiou228: Aug 2 2009, 09:44 AM