What are the unit trusts offered by ASNB?
ASNB offers two (2) types of unit trusts:| Fixed Price Unit Trust | Variable Price Unit Trust |
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What are the basic eligibility requirements for investing in ASNB unit trusts?
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How do I start investing in ASNB unit trusts?
You can visit an ASNB branch office or ASNB agent to open an account.What is the ruling on investing in ASB and other ASNB unit trusts?
The Muzakarah of the National Fatwa Council for Islamic Religious Affairs Malaysia at its 80th meeting held on 1 - 3 February 2008 discussed Investments in ASN, ASB and Similar Schemes. The Muzakarah decided as follows:I have an ASB account (or other ASNB unit trusts), but I have not invested in a long time. Is my account still active?
Your account is still active as long as the account balance is not below the minimum investment limit set by ASNB, which is RM10. Therefore, you are advised to maintain this minimum investment limit throughout the financial year of the unit trust fund to avoid account closure, which could also affect your eligibility to enjoy income distribution, if any.Why are ASNB investors encouraged to designate beneficiaries for their investments in ASNB?
Under Malaysian law, unit trusts are categorized as personal property. Therefore, the claim process for unit trusts is subject to probate law, whereby only the administrator or executor appointed by the court can carry out the inheritance claim process. The process of obtaining a letter of administration/executor usually takes about 3 months and sometimes longer if there is disagreement among the heirs.
The process of obtaining a letter of administration/executor applies to claims by heirs for investments of RM10,000 and above in ASNB unit trusts.
To facilitate the unit trust claim process for investments of RM10,000 and above, ASNB introduced the inheritance service Hibah Amanah for Muslim investors and Declaration of Trust for non-Muslim investors.
For Muslim investors, unit trusts that are given away no longer become part of the inheritance, thereby facilitating the heirs to claim the investments left by the deceased.
Investors only need to go to the ASNB Branch to make a claim, and the claim process takes approximately 21 days from the date the claim is submitted.
What is the difference between ASB and ASB Financing (ASBF)?
| ASB | ASB Financing (ASBF) |
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What is the difference between Amanah Saham Bumiputera (ASB) and Amanah Saham Nasional Berhad (ASNB)?
ASB is a unit trust fund managed by ASNB.What is myASNB?
myASNB is an investment portal developed by ASNB to facilitate ASNB investors in managing their investments online.
Among the facilities provided through myASNB are:
To use myASNB, investors must first update their phone number at any ASNB Branch or Agent before registering at www.myasnb.com.my
What is mobile phone number & bank account verification?
Starting from 26/9/2021, ASNB has implemented new features that do not allow sharing of mobile phone numbers, bank accounts, and emails in the ASNB information system except for Junior/Minor accounts.
Why is sharing of mobile phone numbers or bank accounts not allowed?
This is a security control measure to ensure your personal information and transactions are not shared with other unit holders.
What are the criteria for mobile phone number & bank account verification?
There are two types of verification that will be carried out:
A) Format
The format of the mobile phone number and bank account number must be registered in the correct format.
B) Duplication
Duplicate numbers (same mobile phone/bank account numbers between two or more unit holders) are not allowed and will be automatically canceled by the system. Unit holders whose records are canceled will receive a notification according to their statement delivery option (email or mail).
Who will be involved?
All ASNB unit holders (new and existing), except minors who share mobile phone numbers or bank accounts with their registered guardians (junior/minor accounts).
Will unit holders be notified if the record shows duplicate mobile phone numbers?
ASNB unit holders who have duplicate phone number records in multiple accounts have been notified via short message service (SMS) and email to visit the nearest ASNB branch and agent for update and verification of mobile phone numbers.
To update the Bank Account, apart from individual savings or current accounts, are “joint accounts” or “corporate accounts” allowed?
Not allowed. Unit holders must use personal/individual bank accounts only. Note: Only Malaysian Bank account numbers are allowed
Where can unit holders update their mobile phone numbers/bank accounts?
Mobile phone numbers can be updated through ASNB branches (at the counter/kiosk) or ASNB agents. Bank account numbers can be updated through myASNB, ASNB kiosk, or ASNB branches and agents.
What documents are required to update mobile phone numbers/bank accounts at the counter?
The required documents are:
1. MyKad (for verification purposes)
2. Additional documents to update one or both of the following:
Update mobile phone number
• Telco bill statement, OR
• Printout/Display from the telco application, OR
• Any applicable document containing valid identification information
Update bank account number
• Bank account statement, OR
• Printout from online banking/banking application, OR
• Any applicable document containing valid identification information
Unit holders who have updated their bank account numbers need to wait for verification. How long does this verification take?
System verification takes up to six (6) business days (T+6). Any transaction involving the transfer of ASNB unit trusts to bank accounts cannot be executed until the unit holder's bank information is successfully verified.
Can unit holders transact if the mobile phone number/bank account number has been canceled/not verified?
Scenario 1
Online transactions are not allowed if the mobile phone number has been canceled.
Scenario 2
Online redemption transactions are not allowed if the bank account number is not verified (status not verified/in the process of verification). However, counter transactions are allowed except for Redemptions via bank transfer if the bank account is still in the verification process.
Can unit holders choose not to update their mobile phone numbers and bank accounts as this information is shared with other accounts?
Yes, they can. This means that online transactions that unit holders can conduct will be limited. Refer to S10 for more information.
How will unit holders be informed if their mobile phone number or bank account has been canceled?
Unit holders whose records are canceled will receive a notification according to their statement delivery option (email or mail).
If the unit holder is a myASNB user, they will not be able to initiate any transaction through myASNB. myASNB will display a message to inform the unit holder to update their mobile phone number or bank account if they wish to continue the transaction.
What happens to the Junior/Minor account when the unit holder reaches the age of 18?
Upon reaching 18 years old, their mobile phone number and bank account will be canceled. The unit holder needs to update their mobile phone number and bank account number themselves.
Can unit holders update their mobile phone numbers and bank accounts during the unit trust fund transaction suspension period?
Yes, they can.
The unit holder is overseas. How do they update their mobile phone number and bank account?
Unit holders can email asnbcare@pnb.com.my for further information.
If ASNB receives an order from the court or any authority, what will happen to my investment in ASNB?
ASNB will act according to the instructions stated in the court order or any authority.