Its really interesting to look at. If we take Malaysia estimated population of 27 million, and compare to ASB number of account holders of 6 million, means that around 22 percent of the population invested in ASB. As you are aware ASB is for bumi only, the number of potential non-bumi investor is unknown. But lets say its the same of 6 million (which should most probable be much more) putting a marely 5k cap will give 6 million x 5k = 30 billion. More than half of ASB size.

Well I guess it seems to me that it will be difficult to open for all people and put cap since, the cap will need to be very small, ie less than 5k or else the fund size will be very big. So maybe the current method, where most people don't get it, but some get say 50k, will be prefered than the ALL people get it with only 5k cap. More people means more transactions cost and (more complain??).

Your 2sen plus my 2sen, we now got 4sen.

I would like to warned that Bank Rankyat's loan of 5-6% is normally calculated differently from Banks that quote Blr -1 etc. as Bank Raknyat or others that appears low are because they quote Flat rate. Please compare the actual monthly payment than the %.

Yes you can purchase additional unit (if you are quick enough), since ASM have no individual limit.

Err... Not sure what you meant as bond fund, ASM and ASW are mostly invested in equity and not bond. But ASM and ASW are fixed priced at RM1.00 if that is what you mean.

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Added on May 18, 2008, 10:11 pmGenerally for fixed price PNB's fund (ie ASB, ASW, ASM) the dividend is calculated based on the average lowest monthly balance for the year. So it will be definately better to put 100k then 8k every month. In this case the calculation will be, assuming you put in the monthly on 1st day of the month, your lowest monthly balances will be:

Jan : 100k
Feb : 108k
Mar : 116k
Apr : 124k
May : 132k
Jun : 140k
Jul : 148k
Aug : 156k
Sep : 164k
Oct : 172k
Nov : 180k
Dec : 188k

Total all months :1728k divide by 12 months = 144k times dividend 10% = 14.4k

If you put 188k on 1st of December, then it will be 188k divide by 12 = 15.6k times 10% = 1.56k.

This post has been edited by vergas: May 18 2008, 10:11 PM

Guys, see my previous post on dividend and bonus calculation:
http://forum.lowyat.net/topic/347861/+779

Yes its compounded. But not monthly compounded, its yearly compounded as the dividend is only credited at beginning of next year.

Yes if you have reach 200k limit, its is still compounded.

Do distinguish Dividend and Bonus, Dividend calculated based on average lowest monthly bonus for 12 months, while bonus (for ASB) calculated based on average lowest monthly balances for 120 months (12 years)

Ops... sorry, something must be wrong with my calculator.

RM10 IIRC.

ASB is only for Bumi. ASB, ASM and ASW is capital protected. ASN and ASG is not capital protected.

Liquidity normally means in financial terms, being able to liquidate (ie convert to cash) without losing any (or much) value in instantly or not. Ie, more liquid if can convert to cash very fast, eg in 1 minuted as compared having to wait for 1 month. Yes, you can take out money anytime from ASW2020 except when they are closed for dividend calculation (normally 1 -2 weeks in 1 year). You can take out FD anytime as well, but you have to forgo your interest.

Risk wise, my view is that they are about the same, FD guaranteed by banking institution, also some insurance, while PNB guarantee ASW2020.

No money is part of the reason. Not all people want to save in 1 instrument and some prefer to spend etc, invest in riskier assets, some keep under the pillow. (or ignorant)

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Added on January 6, 2009, 2:38 pmI happened met many successful Bumi businessman invest in ASB. Bear in mind limit for ASB is only 200k (excluding the dividend accumulated), so 200k is only a small drop of water to these people who also invested MILLIONS in stocks of their own company and their business etc. Still they do invest in ASB, but their maximum of 200k is small to them but big to many of us. Even though many businessman are focus, they also diversified and keep some for rainy days in a secured place. To add I've also met many successful non-bumi businessman who skill keep a lot on money in FD.

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Added on January 6, 2009, 2:45 pmWhy would FD be more liquid? If you talk about reinvestment risk that its correct, since there is limited amount of units, not all the time you can take out your money and re-invest. (You can take out, but may not be albe to purchase back since the units may be sold out)

This post has been edited by vergas: Jan 6 2009, 02:45 PM

Only ASB have 200k limit, just check the website on the reply above.

Does the ASW2020 and ASG still available for non-bumi?

If you are bumi I suggest you fill up your ASB first, since historically the dividend are higher. But if you have fill in the 200k quota for ASB then you can put to ASW2020 or ASM, for bumi you don't have to wait for the new launch, just go in on one fine day since most of the time the bumi quota is available.

This post has been edited by vergas: Apr 21 2009, 08:20 AM

The future dividend, nobody knows.

Past records you can get here
http://www.asnb.com.my/

You cannot get ASM through maybank2u, only ASB can right now.

I do not think the allocation for Bumiputra will be open to non-bumi, but the indian portion will be open to other non-bumi if not fully subscribe.

This post has been edited by vergas: May 4 2009, 08:59 AM

Bumiputra portion never fully subscribed.

Except that Capital Guaranteed by Public Mutual you are guaranteed RM1 at maturity, but ASM RM1 anytime.

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.

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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

You can go the the agent, CIMB, Maybank, Pos, RHB or direct to PNB and withdraw anytime. (Unless its time for dividend calculation). Money will be given on the spot.

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Added on August 2, 2009, 12:19 pmJust make sure you understand what 'as defined under the Guidelines' means, it means SC Guidelines. Different from what most people think of a capital guarantee is.

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Added on August 2, 2009, 12:22 pmThere isn't any clause.

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Added on August 2, 2009, 12:27 pmFrom the prospectus:


I've been made to understand that there will be no sales charge during the offer period, its reported here as well:
http://www.themalaysianinsider.com.my/inde...able-from-aug-5





This post has been edited by vergas: Aug 2 2009, 12:27 PM

That because the bank officers and newspaper mean 'capital guarantee' in laymans term, not a
capital guaranteed as defined under the SC Guidelines.