AS1M ETHNIC GROUP’S SUBSCRIPTION ALLOCATION EXTENDED
August 28, 2009
KUALA LUMPUR – Permodalan Nasional Berhad (PNB) today announced the extension of the Amanah Saham 1Malaysia subscription allocation to ethnic groups to September 30 2009.
However, the maximum investment limit for subscription of the new units will be abolished after the 30 day offer period beginning September 4 2009.
PNB President & Group Chief Executive, Tan Sri Dato’ Hamad Kama Piah Che Othman said the decision to extend the allocation ratio was to allow for more time for people from all the ethnic groups to invest in the fund.
“I hope everyone would take this opportunity to participate in this AS1Malaysia fund by opening a new investment or making an additional investment,” he said in a statement today.
AS 1Malaysia, a fixed price fund with a size of 10 billion units was launched on 31 July 2009 by Prime Minister Dato’ Sri Mohd Najib Tun Razak.
During the 30 days offer period beginning 5 August 2009, a maximum investment limit of 50,000 units was imposed for investors aged 18 to 55 years and 100,000 for investors of 55 years and above.
The fund is opened to all Malaysians with an allocation of 50 per cent for Bumiputra investors, 30 per cent for Chinese investors, 15 per cent for Indians and the remaining 5 per cent for other ethnic groups.
Tan Sri Hamad said that as of 25 August 2009, more than 2 billion units of AS 1Malaysia had been subscribed by 148,830 investors.
“Such numbers were expected from a fund this size”, he said.
AS 1Malaysia is the fifth fixed price unit trust fund launched by PNB after ASB, ASM, ASD and ASW 2020.
It is an equity income fund with features similar to that of ASM and ASW 2020; being highly liquid, no sales charge and transacted at a fixed price of RM1 per unit.
ASM and ASW 2020 had recorded commendable performance since their respective launches with a competitive income distribution payment exceeding other comparable investment instruments with similar features.
Comparison of ASW2020 and ASM income distribution vis-à-vis fixed and savings deposits
Transactions of AS 1Malaysia can be conducted at ASNB branches from 8 am to 4 pm and Pos Malaysia from 8 am to 5 pm. Meanwhile, transactions at ASNB agents such as Maybank, CIMB Bank and RHB Bank starts at 9.15 am to between 4.00-4.30 pm, subject to their respective operation hours.
Subscription of AS 1Malaysia units are not subject to any sales charge.