Updates (as of 8 Nov, 2014): ASW2020 and AS1M FY 2014 dividend of 6.6 cents per unit.
Amanah Saham Wawasan 2020 (ASW 2020), Amanah Saham Malaysia (ASM) and Amanah Saham 1 Malaysia (AS1M) are three of the most popular unit trusts funds from Perbadanan Nasional Berhad that are available for non-bumiputra. All these unit trust funds are fixed price funds at the price of RM 1.00. This means that you buy and sell at RM 1.00 irregardless of share market fluctuations.
ASW 2020 which was launched in 1996 is an equity income fund that is benchmarked against 3-months KLIBOR rate. ASM which was launched in year 2000 is an equity income fund that is benchmarked against 3-months KLIBOR rate. AS1M which was launched in year 2009 is an equity income fund that is benchmarked against average rate of 5-years government MGS bond.
Pre-year 2009, it seemed like ASW2020 outperformed ASM fund. However, since 2010, all three funds seemed to mirror each other in terms of performance even though the mandate, especially for AS1M, was slightly different. Moving forward, I expect the performance of these funds to trail each other, though, the returns is quite respectable in view of current low interest environment.
In summary, all these funds are behaving more like bonds with average returns of approximately 6% despite them being equity income funds. These funds will be suitable for those looking for stable and predictable returns over the long term that are far superior than the returns of fixed deposit rates and most of the bond funds.
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