PNB Launches New Shariah Fund, ASN Sukuk

Alex Cheong Pui Yin

25th November 2022 - 2 min read

Permodalan Nasional Berhad (PNB) subsidiary, Amanah Saham Nasional Bhd (ASNB) has launched a new fixed-income unit trust fund, dubbed ASN Sukuk, in conjunction with the Malaysian Unit Trust Week (MSAM) 2022.

The new variable price fund will invest in a diversified portfolio of sukuk, with 80% to 99% of its net asset value (NAV) exposed to the asset class. It will also include Government Investment Issues (GII), defined as a form of marketable government debt securities issued to raise funds for the government’s development expenditure.

Suitable for investors with low risk appetite, and those who prefer stable and sustainable medium- to long-term income, ASN Sukuk requires a minimum starting investment of RM10, while subsequent investments can be made from as low as RM1. Additionally, the fund is going at an initial offer price of RM1 per unit between today until 15 December 2022 (due to the standard 21-day initial offer period).

Interested investors can already begin to subscribe to ASN Sukuk via online channels, including the myASNB portal and mobile app. They can also do so via ASNB agents or over the counter at all ASNB branches nationwide.

Group chairman of PNB, Tun Arifin Zakaria said that ASN Sukuk is the company’s first sukuk fund, and its introduction is in line with PNB’s efforts to expand its suite of product offerings to cater to the growing needs of Malaysian investors. “With the latest addition, ASNB now offers products ranging from fixed price funds, equity funds, mixed asset balance and conservative funds, and fixed income fund,” he further stated.

Meanwhile, chief executive officer and executive director of ASNB, Muzaffar Othman emphasised that ASN Sukuk is a product that is well-suited for the current economic environment, with everyone still recovering from the economic backlash of Covid-19. “For now, we will launch ASN Sukuk to lower risks, and this is the best time for people to begin investing,” he added.

ASN Sukuk is the 17^th unit trust fund to be launched and managed by ASNB. Other funds to its name include Amanah Saham Bumiputera (ASB), Amanah Saham Malaysia (ASM), and Amanah Saham Nasional (ASN) – all of which are popular among Malaysians.

(Source: The Star)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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