On page 5 of MP, it mentioned 'Pricing - Fixed @ RM1/unit'
All Fixed price funds is not Capital Guarantee
When ASNB launched ASN in 1981, it was Fixed price. Later, they convert ASN from Fixed to Variable price in 1991

During 1991 era, investors of ASN were given a choice to (i) convert from ASN to ASB on 1:1 basis or (ii) stay status quo

Tq for the clarification.

Continuing discussion : if opening at ASNB branches, need to bring along cash fro standby, right ? OPening at the bank branch where you keep your FD has its advantages, being if units are available, can withdraw from FD and buy-in straight. If units are not available, let the funds remain in FD.

By the way, if there are withdrawal limitations at the banks, what happens to our PNB Units ? Are we still able to selloff/liquidate our units ?

Bro, u have exit ASx completely or some leftover?

Again with the "attack" on ASx funds.. simply calling people "DUMMIES" for investing..

I donno what grudge He have on ASNB.. the best part is he ignore EPF which could also be used to cover the "hole"

I've attempted to remind people about ASx funds, but people is this thread seem to be too defensive to pay attention
So, for the benefit of the other readers, I will just lay down the facts again...

ASx funds are 100% Malaysia equity funds, just like the public mutual funds etc - early this year KLSE was 1850 points, now left 1570 points, do you think the fund make profit or make losses? Look at all the other floating rate funds in the market, including the ASG type

How come the price for ASx funds are still fixed at RM1 per unit?

http://www.asnb.com.my/pdf/PRODUK/Master_P...314complete.pdf

Pay attention to page 31,
5.12.2 Bases of Valuation on Investments for ASB, ASW 2020, ASM, ASD and AS 1Malaysia
The introduction of MFRS requires the Funds to apply NAV in its valuation bases and processes. The SC has
specified that the Fixed-Priced Unit Trust Funds are permitted but not required to comply with MFRS 139 and MFRS
7 for the financial years ending 31 December 2012 until 31 December 2015, subject to terms and conditions imposed
by SC.

If these funds follow floating NAV, what would be the value now?

Honestly, I don't think it's so easy for the gov to steal your money from the fund, after all it's guarded by trustee and all...
But.... is your money still worth as much? particularly in a falling market?

Just be aware that this is not FD, it was never meant to be

If they change to floating, the principal could be affected thus reducing the final value. So if its fixed, principal will not be affected . Dividend will be added to the principal. Hence at the end of the day, regardless what's the NAV, your prinicipal is not reduced. But you gained the dividend.

This is the interesting part! During the 1997/1998 crisis, ASW actually gave the best dividends. Did they short sell the FKLI to make the money?

Year  Dividend (sen)
1997  10.10
1998  9.80
1999  8.20
2000  8.80
2001  7.25
2002  7.25
2003  6.60
2004  7.00
2005  7.10
2006  6.80
2007  8.00
2008  7.00
2009  6.30
2010  6.35
2011  6.50
2012  6.60
2013  6.70
2014  6.60

The AR 2014 does not provide the straight forward NAV. We have to rely on the RM178m expense they charge as "Yuran Pengurusan" to derive at the figure.

Working backwards using Yuran Pengurusan * 100 / Units in Issue

178,430,500 * 100 / 16,892,100,000 = 1.0563

The AR report is written in BM, it took me a while to understand the the gist of it.

Spot on 
Was about to say the same. And annual report did warn that the MER would not be comparable to variable priced funds due to that

Hi...can PNB just convert a fixed price fund to variable priced....without giving us a window period to redraw?
It is not like they can announce today that it is RM 1 fixed...and tomorrow it is 50 cents...right?

If my memory is still OK, there is no ASX dividend due in Jan 2016.

Right?

Why?

Red flag - complication with the potential FP to VP switch on 1-1-16 (ASX will be frozen for about 2 weeks before the dividend and thus should withdraw before that frozen period if the switch is confirmed).

Dire strait if they announce it during the frozen period. Ha.

Thanks.

Thanks.

My decision to withdraw will depend on on whether they change from FP to VP or not.

I will still withdraw even if KLCI is > 1800 then. Why? My crystal ball tells me a gloomy global market and better stay out till the storm has died down. Ha.

Cheerio.

lol totally forgot about ASB.. if really change starting 1st Jan, then most people might go crazy @ jump 14th floor...

some using asb divvy for loans payment, pay school fees etc.

it's Political Suicide 

mana boleh itu macam..

ASB maintain while others change into VP     

in Master prospectus, already listed all FP fund (incl ASB) exp ASB2 which only on Jan 2017

PNB/ASNB only have 2 choice. Maintain or Change all

U have overlook 'bumi' have vested interest in ASM/ASD/ASW/AS1M too 

Was informed ASNB will announce Dividend for ASW on 27/8 (tbc)

I see. really learnt a lot of things from you today. thanks! 

fixed price funds is just like your beloved EPF

I love to use examples and analogies...

U pass me RM100,000 to invest in a business

We have an agreement...
- Should u decide to cash out, u will only get back your capital of RM100,000
- But I also guarantee u that u won't lose your capital, if u cash out I will pay u back 100% of your capital
- It is up to my discretion to declare/pay out how much dividend to u, if at all

Scenario A
I managed to grow the business, a year later it is worth RM150,000, i.e. 50% return

But I think that I want to retain some profits for future growth, so I pay out 20% dividend i.e. RM20,000 to u, balance RM30,000 is retained.

Business value now: RM130,000
Scenario B
I made some profits for u, total profits from trading of goods were RM20,000

But I also trashed the office when I *ahem* with my secretary last night. We bought the office unit at RM50,000. If u were to sell it off now, can only fetch RM25,000. Now that's some heavy damages done

Realised profits: RM20,000
Unrealised loss: (-RM25,000)
Business value: (-RM5,000)

But I still can pay u RM20,000 as dividend

End up the business left value of RM75,000 only
That's fixed price fund for u, in a simplistic view.

Spoke to my Minister here this morning.

Realised that the FP funds had their FP status renewed in 2012.

Were we aware of this renewal? No one panic then?

Hope that the 2016 FP renewal will be like in the past with no twist and turn. Ha.

P/S Who was the Minister I spoke to? The Home Minister. My wife! Ha.