Amanah Saham 1Malaysia is the biggest trust fund in the country, and will go on sale from Aug 5. With a fund size of 10 billion, Amanah Saham 1Malaysia will be able to boost the equity market and act as a catalyst to the country’s economy. Amanah Saham 1Malaysia was launch in conjunction with 100 days of Sixth Malaysian Prime Minister, Najib Tun Razak in the Prime Minister office.
The Fund seeks to provide regular and consistent income stream whilst preserving the unitholders’ investment capital over a long term horizon through a diversified portfolio of investment.
To ensure that the units were fairly distributed, the first 30 days of sale (Aug 5 to Sept 3), 50% of the units had been allocated to Bumiputras, 30% to the Chinese, 15% to the Indians and 5% to other races.
In the 30-day period, the maximum investment for an investor below 55 is 50,000 units, while investors above 55 can purchase a maximum of 100,000 units.
After the period, the cap on purchase on unsold units would be lifted, and the sale would be open to all Malaysians above 18, regardless of race.
Investors can buy the units at ASNB offices and post offices from 8am to 5pm from Aug 5, and at Maybank, CIMB Bank and RHB Bank during the operating hours of the banks.
The fund’s return will be benchmarked against the average five-year MGS (Malaysian Government Securities) yield, which currently has a trading yield of 3.73 per cent.
More details information is avaiable at Amanah Saham Nasional Berhad webpage.