Little Mom just called me from Kuching to say Permodalan Nasional Berhad (PNB) will be issuing more Amanah Saham Wawasan 2020 (ASW) units again on September 1. She missed out on the last round and so, is excitedly running around sorting out her deposits so that she can join the queue early on September 1.
Open to all Malaysians from the age of 6 months and above, the ASW 2020 fund is the only fixed price fund in the PNB stable.
Currently the approved fund size stands at 4.3 million units with 3.09 billion units sold. The unsold portion is available to Bumiputra investors only. Come September 1, another 1 billion units will be approved with 51% allocated to Bumiputras and 49% to non-Bumiputra investors.
A distribution of 6.80 sen per unit was declared for the year ending 31 August 2006, slightly lower than last year’s distribution of 7.10 sen per unit. This still makes for a decent return compared to fixed deposits.
The last increase in fund size earlier this year was sold out in a matter of hours to non-Bumiputra investors and I guess this one will be no different. Thankfully, Bumiputra investors need not join in the stampede since there are still ample Bumi units available. I believe you can buy the fund from most local banks like Maybank, EON etc.
According to a Business Times article published on 11 August 2006, as at August 10 2006, ASW 2020 had a gross income of RM223.62 million, up 9.97 per cent from the RM203.35 million recorded in the previous year.
Profit from the sale of shares contributed RM87.80 million, or 39.26 per cent from the gross income, while dividend income contributed RM112.72 million, or 50.41 per cent, and the remaining RM23.10 million, or 10.33 per cent, was contributed by other income.
(picture: Lil Mom’s garden)
August 26, 2006 at 3:22 pm
I was just talking about ASW2020 with a friend over dinner just now and he had pretty good experience with this investment a couple of years back (around 10% average returns for a couple of years). But he told me he is still baffled today as to how they get these returns when EPF and everything else were much lower.
August 26, 2006 at 4:31 pm
Know what u mean. I think this is a case of the fewer the questions asked the better.
As for the EPF, well that’s another story isn’t it…
August 28, 2006 at 12:57 am
I think it is because PNB itself is an index linked company. They control most blue chips such as Maybank, Sime and so on.
EPF investments have been more in government bonds and return is very slow.
August 30, 2006 at 12:54 pm
So, is it confirm that ASW2020 will be sold on 1 Sept 2006? If yes, I will start queing at 7am…and take half-day leave
August 30, 2006 at 1:01 pm
Hi Song, yes yes – it’s confirmed. Good luck, and do drop back here to let us know how it goes
August 30, 2006 at 1:09 pm
Hi Emily…thanks for your response….but i read somewhere that these new purchase must be made thru your epf Acc 1 and not thru cash purchases….
August 30, 2006 at 1:23 pm
Hi again Song, not to my knowledge. I have a few friends who are planning to apply using cash. But I guess if you want to withdraw your EPF to apply, you can do so also since ASN/PNB is one the approved investment institutions. Hope this helps.
August 30, 2006 at 1:45 pm
yeap, I guess the EPF is an option but by the time EPF approved the withdrawel, there would be no more units left…. :O
August 30, 2006 at 2:05 pm
Well I haven’t done it before for ASW but I know that if you withdraw EPF to invest in mutual funds, the fund company normally “locks in” your purchase on the day your application is received, and allocates the units at the price of that day itself eg September 1. I think it takes 2-4 weeks for EPF to release the cheque to the mutual fund company but if your units have been reserved then no problems, la. But better check with your banker friends that same applies to Wawasan also. Any bankers out there?
September 1, 2006 at 2:32 am
I am sick to my stomach…..started queing abt 7am…was first on the queue….bank teller keyed my application at 9.30 am….waited for the system to process….received a system meassage at 10.10am that it has been fully sold….
September 1, 2006 at 2:08 pm
Yeap, I started queing around that time too, and was second in line….the people in front of me managed to buy RM300k.
Assuming that the units are on sold in roughly 3500 branches of various agents, and the average person buys that amount (RM300k), this means that only the first in line gets to buy the units!
The phrase “second place is first place loser” really hits me hard now…
September 1, 2006 at 4:00 pm
Sad to say all that running around came to nought…Little Mom was third in the Q at the bank. A datin was 1st in line and bought RM1 mil and that was the end of that! And so the rich gets even richer….never mind us poor sods!
September 4, 2006 at 12:07 am
Andre….yeah, i can understand how u feel…it totally sucks….
Emily…unfortunately this is the trend in malaysia…i just hope one fine day, PNB will put a cap on the total investment per investor…
September 4, 2006 at 4:38 am
Hi,
Just read your blog, actually ASW2020 is equity fund, not bond fund, and we could buy it from ASN office, Maybank, RHB Bank, Post Office and BCB only (no EON Bank)
Ohh yes, I am second in the Q and I managed to buy it (althought I did not buy much)
September 4, 2006 at 5:52 am
Hi Tamago – it’s fantastic that you managed to buy it! Thanks for pointing out that it is an equity and not bond fund. I checked the online prospectus and it says that as at 31 August 2005 the ASW 2020 fund held 76% in equities and 24% fixed income securities. Top 5 shareholdings were (TNB, Maybank, Commerce Asset, Telekom and Malakoff). I got thrown off by the fund being referred to as a “fixed price” fund, I guess.
September 4, 2006 at 8:58 am
Hi Emily,
You are welcome
May I know what is the link to get the “online prospectus”?
Congrats on getting the “CFP” designation, I guess you should be thinking if you want to convert to “RFP” designation before year end
I just googled a website that I think you might be interested:
http://www.investlah.com/forum/index.php?PHPSESSID=e252bdc3766ca0f5595797c33de52ef9&
If you know Mandarin, I will suggest you to take a look at below informative website:
http://chinese.cari.com.my/myforum/forumdisplay.php?fid=5
Your blog is the first Malaysian Blog that is about personal finance/ investment which I came across. Please continue your great blog.
September 4, 2006 at 12:12 pm
Tamago, many thanks. Will check out the links but unfortunately do not read Mandarin. PNB’s master prospectus is available from their website. Direct link is http://www.pnb.com.my/business/business.cfm?disp=6&cat=1&subcat=1&subsubcat=1. It’s a .pdf file around 32Mb if you want to download. Will probably not convert to RFP – not too bothered by the designation – CFP was more for interest and own knowledge
September 25, 2006 at 1:45 am
Wawasan reopen twice but many didnt get to purchase, especially Public. Here we are talking about Transparency, Equality & Cop Govt, but when it came to the third person, all funds was sold out, RM2 bil. Inside Job, special arrangement for VIP or announced amt is not true amt? No one will ever know, as long as they plan to keep it a secret, too much shit.
September 25, 2006 at 12:33 pm
Just want to check with fellow ASW2020 investors…have you received your dividend for 2006 yet? The 6.8% dividend was announced on 15 Aug, but till now (end Sep)…no cheque received. As I remember, during past years, I always get the cheque during early September.
March 11, 2007 at 2:34 pm
[...] of thousands of Ringgit) causing the fund to be sold out within the first half hour (read my earlier post on this [...]
March 29, 2007 at 8:44 am
hello all. Been holding ASW 2020 for years (since it first came out i think)and have been overseas since. Looking at mutual fund investments which are earning heaps higher >10% return at least. do you guys think it’s worthwhile liquidating wawasan and switching to mutual fund investment instead?
April 1, 2007 at 10:56 am
Is there an age limit? what happens to ASW when you reach 40 years old? forced to take out? in that case, better invest in commercial mutual funds…