Published by Asia Asset Management – 30th Aug 2018
Malaysia’s Amanah Saham Nasional (ASN), a wholly-owned subsidiary of Permodalan Nasional Behad (PNB), the country’s largest fund manager, will launch two unit trust funds for retail investors next month.
One fund, the ASN Equity 5, will invest primarily in locally listed stocks and the other, the ASN Sara 2, will be invested mainly in bonds at the top end of the targeted range, according to the draft prospectus filed with Securities Commission Malaysia (SC).
The document was posted on the SC’s website on August 27.
A draft prospectus is aimed at obtaining public feedback and has to be submitted to the regulator before the official launch.
“The ASN Equity 5 will invest 70%-90% of its net asset value (NAV) in equities, while the balance of the fund’s NAV shall be invested in fixed income securities and money market instruments inclusive of liquid assets,” ASN says in the document.
As for the ASN Sara 2 fund, 20%-80% of its NAV will be invested in fixed income securities and money market instruments, and the balance in stocks.
Both funds charge up to 1% per annum of their NAV as management fees. On top of this, the ASN Equity 5 will charge trustee fees of up to 0.07% per annum while the ASN Sara 2 will charge up to 0.05% per annum.
The prospectuses for the two funds will be released on September 18.
PNB had 279.2 billion ringgit (US$68.1 billion) of assets under management at the end of 2017.
