ASNB has no plans for more fixed price products soon

PNB president and group chief executive Tan Sri Hamad Kama Piah Che Othman

KUALA LUMPUR: Amanah Saham Nasional Bhd, a wholly-owned subsidiary of Permodalan Nasional Bhd (PNB), has no plans to roll out more fixed price products in the near future.

PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman said that while the focus was always on trying to give investors the best products, the launch of fixed price unit trusts means people can withdraw their money anytime.

"Most products we launch now are mainly in variable pricing to ensure we share the risks with investors," he told a press conference in Kuala Lumpur after the income distribution announcement for the Amanah Saham Wawasan 2020 (ASW 2020) for the financial year ending Aug 31, 2016.

PNB yesterday announced a 6.30 sen dividend for a unit for ASW 2020, down 10 sen from 6.40 sen last year.

Newly-appointed PNB chairman Tan Sri Abdul Wahid Omar said the 6.30 sen dividend was commendable considering volatilities surrounding the local market this year, which had been affecting the FTSE Bursa Malaysia KLCI's performance.

"In an economic climate and investments that are largely influenced by external factors, the ASW 2020 will continue to map out investment strategies that are prudent through a focus on suitable assets.

"Investment decisions based on fundamentals as well as the good performance of blue-chip companies will be key to the ASW 2020 fund generating satisfactory income dividends, alongside other investment income," he added. - Bernama