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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)