ASB posts strong performance due to asset allocation, diversification strategies – PNB

KUALA LUMPUR: Amanah Saham Bumiputera (ASB) has recorded a strong performance, resulting from asset allocation and diversification strategies, said Permodalan Nasional Bhd (PNB).

This came as PNB’s wholly-owned unit trust management company, Amanah Saham Nasional Bhd (ASNB), today declared a total income distribution of 5.25 sen a unit for its flagship fund, ASB, for the financial year ending Dec 31, 2023.

The total distribution consists of an income distribution of 4.25 sen a unit and a bonus of 1.00 sen a unit, with the total payout amounting to RM9.3 billion, benefiting 10.8 million ASB unitholders.

PNB president and group chief executive Ahmad Zulqarnain Onn said a number of landmark transactions were carried out to enhance value for unitholders.

“ASB continues to be the investment of choice for millions of Bumiputeras delivering consistent returns, and forming an integral part of the savings plan for over 10.8 million customers,” he said in a statement today.

According to the statement, the year also witnessed the launch of the refreshed myASNB Superapp to provide enhanced customer journey and experience to unitholders, as well as PNB’s inaugural Integrated Annual 3 Report, which embedded sustainability within the group’s reporting framework to elevate its reporting standards and transparency, in accordance with global best practices.

Meanwhile, following the launch of the ASN Sukuk fund in November 2022, PNB has seen healthy demand from unitholders, with more than one billion units sold since its launch.

“PNB continued to demonstrate its resilience in navigating the uncertainties of 2023.

“As we move into a new year and charting new opportunities, we will continue with our investment strategies and remaining steadfast in our commitment to deliver our mandate,” said Ahmad Zulqarnain.

In 2024, PNB said it would embrace innovation and digitalisation to enhance unitholders’ experience while keeping itself on track in delivering the 10 environmental, social, and governance commitments.

PNB would also be more active in championing financial literacy to uplift the financial lives of Malaysians across generations.

Among the initiatives include offering Auto Labur, a recurring investment function on myASNB app (application), to boost savings habits and promoting the ASNB Academy, a financial literacy tool accessible for all Malaysians, which serves as a knowledge hub and reference centre on investment and financial planning.

Meanwhile, it noted the computation of the income distribution for ASB is based on the average minimum monthly balance held throughout the fund’s financial year.

It said the units re-invested from the income distribution would be credited into the unitholders’ accounts on Jan 1, 2024.

Additionally, it said transactions for ASB at ASNB branches and agents, including all online channels and internet banking, would be suspended temporarily from Dec 22 to 25, 2023.

PNB also announced the introduction of a special feature this year to encourage Malaysians to continue saving, allowing additional cash investment transactions in ASB starting Dec 26, 2023.

“These investment transactions will be taken into account for the monthly minimum balance in January 2024, allowing unitholders to enjoy the full calculation of income distribution from January 2024.

“Unitholders may resume transactions at all online channels and internet banking beginning Jan 1, 2024, and at any ASNB branches and agents beginning Jan 2, 2024,” said PNB. – BK