Amanah Saham 1Malaysia (AS 1Malaysia), an all-Malaysian fund managed by Permodalan Nasional Bhd, was launched by Prime Minister Datuk Seri Najib Tun Abdul Razak.
PNB chief executive officer Tan Sri Hamad Kama Piah Che Othman said AS 1Malaysia is a fixed price equity fund priced at RM1.00 per unit with a total fund size of 10 billion units, the biggest fund offering by PNB thus far.
"AS 1 Malaysia will be opened for public subscription beginning Aug 5, 2009 -- during a 30-day offer period beginning Aug 5, 2009 till Sept 3, 2009," he said at a media briefing Friday.
The minimum initial investment of AS 1Malaysia is 100 units while the minimum additonal investment is one 1 unit.
Hamad said the fund will be invested in Malaysian companies with its yield benchmark according to 5-year Malaysian government yields which currently hovers around 3.7 to 4.0 percent.
"During the offer period, subscription of the units is subject to an allocation of 50 percent for Bumiputeras, 30 percent for chinese, 15 percent for Indians and the remaining five percent for other minorities," he said.
To ensure a wider participation from the investing public, he said, the maximum investment limit during the 30-day offer period has been set at 50,000 units per accountholder for those between the ages of 18 and 55.
The maximum investment limit for those above 55, is set at 10,000 units per accountholder, he added.
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