TheStar
KUALA LUMPUR: Amanah Saham Malaysia (ASM) has announced an income distribution of 6.25 sen per unit for the financial year ending March 31, the lowest since the fund’s inception in 2000.
Last year, ASM paid 7.8 sen per unit in income distribution. The income distribution involved a total payout of RM407.58mil, said fund manager Permodalan Nasional Bhd (PNB) chairman Tun Ahmad Sarji Abdul Hamid.
“The payment will benefit a total of 402,513 unitholders who subscribe to 7.21 billion ASM units,” he told a press conference yesterday.
PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman said that the fund had the capacity to declare an income distribution of 7.92 sen per unit, but the group decided to reserve the income for the next financial year.
“We feel that 6.25 sen per unit is already in line with the market at this condition,” he said.
He attributed the diminished performance to the global economic downturn and the fund’s 25% increase in the number of units in circulation that had resulted in dividend dilution.
Declining to disclose PNB’s investment strategy going forward, Hamad said PNB’s objective remained creating long-term and sustainable returns for shareholders.
“We are a long-term player; we are looking for opportunity to buy more shares (with good fundamentals and are reasonably priced) that are good for the long term,” he said, adding that PNB was looking to issue more new products this year. He said ASM currently had RM2.1bil in cash.
ASM is a fixed-priced equity-income fund aimed at providing unitholders with a long-term investment opportunity by generating regular and competitive returns through a diversified portfolio of investments.
Up to last Friday, ASM had recorded gross income of RM440.73mil.
Dividend income from investments contributed RM219.33mil (49.76%), profit from the sale of shares generated RM137.84mil (31.28%) and the remaining RM83.56mil (18.96%) came from investments in short-term instruments.
The income distribution was based on the average monthly minimum balance held throughout ASM’s financial year.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Showing posts with label ASM. Show all posts
Showing posts with label ASM. Show all posts
Wednesday, March 18, 2009
Tuesday, July 22, 2008
ASM Investment set to double assets
TheStar
KUALA LUMPUR: ASM Investment Services Bhd targets to double its current total assets to RM1bil in two years.
Chief executive officer Nik Mohamed Zaki Nik Yusoff said the company, which currently manages 17 funds, would focus on expanding its corporate fund portfolio with the launch of its new real estate investment trust fund (REIT) and exchange-traded fund (ETF) next year.
“Currently, 80% are retail fund and 20% corporate. We are now in discussions with local partners to launch our new REIT, likely by the second quarter of next year.
“For ETF, we are also in talks to tie up with foreign parties. I think we'll launch it by the third quarter of next year,” he said after the launch of its new Syariah Dividend Fund (SDF) yesterday.
He said ASM Investment would launch a new structure fund by year-end to further expand its fund size.
Nik Mohamed said the SDF would adopt an active investment management strategy to achieve long-term total returns and stable income stream by investing in syariah-compliant equities, Islamic money market instruments and liquid assets.
It has an approved fund size of 500 million units and would cost 25 sen per unit during the initial promotional period ending Aug 10.
Nik Mohamed said the new fund was expected to be fully subscribed within six months.
On whether it was the right time to launch the fund due to the uncertainties in the current market, he said: “The shares the SDF invests in do not fluctuate when the stock market falls and their performance is better than the bonds when the market goes up.”
He said the value of the SDF had the potential to increase by generating income for the investors even though the value of the component shares fell. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: ASM Investment Services Bhd targets to double its current total assets to RM1bil in two years.
Chief executive officer Nik Mohamed Zaki Nik Yusoff said the company, which currently manages 17 funds, would focus on expanding its corporate fund portfolio with the launch of its new real estate investment trust fund (REIT) and exchange-traded fund (ETF) next year.
“Currently, 80% are retail fund and 20% corporate. We are now in discussions with local partners to launch our new REIT, likely by the second quarter of next year.
“For ETF, we are also in talks to tie up with foreign parties. I think we'll launch it by the third quarter of next year,” he said after the launch of its new Syariah Dividend Fund (SDF) yesterday.
He said ASM Investment would launch a new structure fund by year-end to further expand its fund size.
Nik Mohamed said the SDF would adopt an active investment management strategy to achieve long-term total returns and stable income stream by investing in syariah-compliant equities, Islamic money market instruments and liquid assets.
It has an approved fund size of 500 million units and would cost 25 sen per unit during the initial promotional period ending Aug 10.
Nik Mohamed said the new fund was expected to be fully subscribed within six months.
On whether it was the right time to launch the fund due to the uncertainties in the current market, he said: “The shares the SDF invests in do not fluctuate when the stock market falls and their performance is better than the bonds when the market goes up.”
He said the value of the SDF had the potential to increase by generating income for the investors even though the value of the component shares fell. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Tuesday, August 28, 2007
ASM Investment strives to be the leader
TheStar
KUALA LUMPUR: ASM Investment Services Bhd wants to be a leading player and a preferred investment management company locally and in South-East Asia by 2012, said chief executive officer Izaddeen Daud.
Speaking at the launch of ASM Global Diversified Structured Fund (GDSF) yesterday, he said the company would actively introduce more customised products that were in line with investors' demand and needs.
He said ASM Investment was now ready to provide more innovative products with advisory services to current and future investors.
“Our target are institutional investors, notably government-linked companies (GLCs) and co-operatives,” Izaddeen said.
ASM Investment Services Bhd CEO izaddeeen Daud (second from right) at the launch of ASM Global Diversified Structured Fund in Kuala Lumpur on Monday. With him are company chairman Datuk Zamani Md Noor (left), ASM group chairman Datuk Seri Abdul Aziz Raja Salim (right) and Deputy Finance Minister Datuk Dr Ng Yen Yen (second from left)
He said efforts would be made to woo more GLCs to subscribe to its funds, including the ASM GDSF.Institutional investors would eventually account for 80% of the company's subscriber base, he said. Other subscribers to the company's funds are retail investors.
As at July 31, ASM Investment managed 15 unit trust and third-party funds valued at more than RM500mil.
Izaddeen said ASM Investment had seen brisk sales of 100 million units of ASM GDSF worth RM50mil since it was made available for subscription last Thursday. It has a total fund size of 500 million 50 sen units.
“We are optimistic the remaining units will be fully subscribed before the closing period on Oct 6,” he said.
The closed-end structured fund will invest in a structured product issued by Deutsche Bank (M) Bhd that will provide investors capital protection upon reaching maturity in three years.
The fund will be invested equally in three different asset classes – real estate investment trust, commodity and equity – and is slated to provide 7% to 8% in annual returns.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
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