Reading which shows no exposure to any of the asset allocation by the AS1M fund manager to any 1MDB debts issued via sukuk because the majority of AS1M funds is invested in equities as it is an equity fund. And if one is to read the annual report that contains the financial statements you would see that all of unit holder funds that is used to by assets will be owned by the trustee on behalf of the unit holders and not owned by PNB/ASNB.

So that means that unless under the consent of the nominee and also as per the investment objective and trust deeds that is found in such disclosure reports, the only link between AS1M and 1MDB is just the name 1Malaysia.

Of course you would have known all of the above and more because just like the rest of us, you read the financial statements too right

If you've read the previous threads that you would know that this has been discussed before. It's the job of the fund manager to ensure enough liquidity to honour redemptions while at the same time ensure that funds are properly invested and well diversified to ensure that the NAV does not deviate too far from the RM1.00 while all at the same time hunting for yields.

This is the same challenge faced by fund managers such as EPF, KWAP, LTAT, TH and any other UTMC that practices the same model. To these organisations the true NAV fluctuates but for companies like ASNB who are registered UTMCs, since the trust deed and the fund characteristics are as such that the value of each unit is still RM1 regardless on the actual NAV so it is the responsibility of the UTMC to honour it.

Try recalling back to 1997/98, did EPF, TH or ASNB failed to honour the RM1 pledge? If you weren't born yet at that time, you may want to ask your parents about it. How much financially did it affect them? Who knows.

None of these organisations discloses the actual NAV as I believe that they're exempted under the rules applied MFRS so even if you read the annual report page by page you won't find the NAV. You can never ascertain the NAV because you wouldn't know at what entry point for a particular security from which the fund enter or exit from. The annual report wont tell you the cost of each and every single transaction that was made because NAV also takes into account those things.

You can glean a lot from the annual report but not everything. You want to know how well is AS1M being managed? Looked at the MER of the fund.

Investment of any form has risks. Even if you keep money under the pillow has risks.

ASB2 only just recently had its first income distribution so on the back of that, it does seem to be providing better returns than ASW2020. However, it's important to note that past performance is not an indication of future returns

They're on Twitter and Facebook, just ask them if you're not the calling on the phone type. You could also email to them too

I may be wrong but the only funds which ASNB has yet to issue notice to change passbook is ASB, AS1M and ASW if I'm not mistaken...

EPF fund managers must be hoping the response from the public is good... Transfer the headache of hunting for yields to PNB fund managers

I may be wrong but I think most UTMCs uses income distribution. What retail investors should learn to calculate is yield which in the case of ASN2, the yield is at 5.20% based on a NAV of 0.6633

IMHO I prefer yield than any other method to determine a fund's performance.

Well given the expectations of their investors, current stock market meltdown, tough economic outlook and just overall bad sentiment throughout, I'd struggle to put up a smile too

No hidden reason. Financial institutions tend to upgrade their core systems from time to time. This time the new system just requires a new passbook thats all

I can understand BSN and Affin, both being GLCs and all but Alliance Bank? That's rather interesting given the limited coverage its branches has. Maybe a new "lubuk" to top-up fixed price funds then?

That would be awkward I would think. I think everyone knows that the MO for most public mutual agents is to bash ASNB's products in order to sell PM products. If suddenly public bank becomes an ASNB agent and I was approached by a PM agent practicing the same MO, I'd reply with "Eh? But your parent company also selling ASNB products? How can it be so bad?"

Heard from a colleague that is friends with an ASNB staff at an east coast branch that there's quite a large number of units available for ASM today. There's an hour left why not give it a shot ladies and gents

Didn't ask pulak sorry

Your parents would most probably either be very close to retirement age or are already in retirement. Liquidating a relatively low risk yet competitive returns product for variable priced products does not make sense. Why I'm saying variable priced because FSM does not have any fixed priced funds.

And what's the point of investing in variable priced bond/fixed income products? The returns from these funds including money market funds does not yield anywhere close to what ASNB's fixed priced funds have and yet still be susceptible to risks of price fluctuations. Very, very few variable priced UT products offer capital guarantee so again, what's the point?

I certainly hope that your parents are being advised by you and/or your UTC consultants properly. Variable priced funds are more risky thus potentially providing higher returns but may not suitable for those who are looking for stable, consistent and almost annuity like income.

Unless of course you're a UTC trying to stir stuff in this thread, than shame on you but if you indeed are genuine, the paragraph above is a warning not to ruin your parents retirement. Learn about risk/reward and financial requirement lifecycle or even basic financial planning before jumping in.

This post has been edited by hyelbaine: Jul 14 2015, 09:33 AM

Hot Tip : Contact who has a colleague working in an ASNB branch has again informed me that ASM units are available.

Not sure whats the trend with ASM suddenly taking over AS1M as the "go to" fund of choice. Anyways, good luck to all ya!

You should at least help your parents clarify the whole 1MDB issue as unlike TH or KWAP, ASNB is just like any other unit trust company which have rules and regulations. Help them read the clarifications that ASNB has posted on their website and even social media. Help them learn how unit trust deeds, prospectus and trustees work.

But judging from your response, it's all too late.

I fear that your parents have made a grave decision and listened to the wrong advice. I hope things work out for them although given how the entire economic situation not just locally but also globally, they'll regret their decision and unfortunately have to suffer and live for it.

China's new normal is no longer double digit GDP growth and their stock market has lost almost half of its value in just over a month. India is just derailed by bureaucracy and internal/structural deficiencies. Yes these countries can POTENTIALLY grow in the future but can your parents wait for 3, 5 or even 10 years before returns can be obtained?

For your parents sake, I hope that the UT that they're investing and looking for returns in are NOT their only source of income for retirement because if it is... Well I certainly hope you have other siblings who can supplement your parent's income in retirement.

Asking. Friend's colleague not replying whatsapp. Busy at the branch maybe


That's normal, it's cyclical anyways. No fund manager can claim that they provide the highest returns all the time

Nope. I'm a bumi and my ASB is not even maxed out yet but at least I can try and help the others here who are looking for fixed priced funds

Friend finally replied. ASM already migrated to new system so ASNB branches can access units available real time depending on their access level but AS1M and ASW is still in old system so I guess there's no like summary screen and can only know when doing transactions.

I can't confirm that I can provide daily updates but I think for all of you non-bumi fishing for fixed priced funds, ASM looks likely to be your best bet.

My regular savings goes to ASB while any bonus or OT I get, a portion of it goes to ASB2


Again, not everyone can see/check. The branch manager for sure but the front-desk teller may not have access to the screen/info

No worries. My advice to any of our non-bumi friends who are looking to either open or add to their fixed priced funds, ASM seems to be the fund of choice. The message that I get from my friend is that ASM being under the new system is much easier to obtain as certain level of staff at ASNB branch can view the units available.

I doubt that the same screen is extended to the banks though but give ASM a shot as I haven't heard anyone said they couldn't get ASM units since the beginning of the week so time to cash out your FD or break your tabung for bullets!