Shoud I buy? How would be the return of this fund? Is it 3.7 - 4%? Is it worth to invest?
KUALA LUMPUR, Nov 20 (Bernama) -- Permodalan Nasional Bhd (PNB) said today the Chinese community subscription quota of Amanah Saham 1Malaysia (AS1M) unit trust scheme has touched 80 per cent.
The Indian community quota has reached 20 per cent, said PNB Chief Executive Officer Tan Sri Hamad Kama Piah Che Othman said.
The Chinese were allocated 30 per cent of the 10 billion units, 15 per cent to Indians and five per cent to other ethnic groups.
Subscription by Bumiputeras, who were allotted 50 per cent units, was still low probably due to the wide choice of buying from other unit trust schemes like Amanah Saham Bumiputera, also managed by PNB.
He, however, did not state the percentage.
He was asked on the subscription progress of AS1M unit trust scheme launched by Prime Minister Datuk Seri Najib Tun Razak on July 31.
On whether the quota system would be scrapped and open to all races due to lukewarm response to AS1M so far, Hamad Kama Piah said PNB might consider the probability.
Nevertheless, he said, the people might be interested to buy after seeing the first dividend to be announced next year.
So far, PNB has sold 2.8 billion AS1M units.
The 10 billion-unit AS1M is the biggest unit trust scheme launched by PNB, the country's largest fund manager. The units are sold at RM1 each.
Hamad Kama Piah had said earlier the fund would be invested in Malaysian companies with its yield benchmark according to the 5-year Malaysian Government Securities which currently hovers around 3.7 to 4 per cent.
Hama Kama Piah was met in a "session-with-the media" following the announcement of 5.5 sen per unit income distribution for Amanah Saham Nasional 3 (ASN3) for the financial year ending Nov 30, 2009.
Via Bernama
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