BusinessTimes
PERMODALAN Nasional Bhd (PNB)'s recently launched Structured Investment Fund (SIF) could yield returns of between nine and 10 per cent a year, its chief executive said.
In May, president and group chief executive Tan Sri Hamad Kama Piah Che Othman said the fund could provide annual returns of between six and seven per cent.
PNB is confident of a higher estimate as its existing funds have reported between seven to eight per cent returns annually, Hamad said.
A total of RM2.5 billion has been taken up since the SIF was launched in May. SIF is open to individual and institutional investors at a net asset value of RM1 during the offer period, which ended on June 25th.
It is also the first time that PNB opened the fund to institutional investors, companies and non-Malaysians to invest.
"The overwhelming response we received encourages PNB to launch more of such products in the future," he said in Kuala Lumpur yesterday.
He was speaking at an event announcing winners of PNB's investment quiz.
Up to 80 per cent of the fund will be invested in structured products issued by Deutsche Bank Malaysia, which may include bonds, stocks, equity-linked and hybrid products.
The fund will also put up to half of its money in PNB REIT (real estate investment trust), which owns seven properties in Kuala Lumpur and Johor Baru worth about RM1 billion in total.
Meanwhile, PNB announced that its wholly-owned subsidiary, Amanah Saham Nasional Bhd (ASNB), is offering 200 million new units of Amanah Saham Didik (ASD) beginning yesterday.
A total of 2.2 billion units have been snapped up since ASD was launched in 2001. This is the seventh time the fund has offered new units.
ASD is a fixed price unit trust fund open to Bumiputera investors as early as six months old.
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