The size of the Amanah Saham Didik (ASD) has swelled to 3.8 billion units following the announcement by Amanah Saham Nasional Bhd, a subsidiary of Permodalan Nasional Bhd (PNB) that it is offering an additional 300 million units.
The offer of new units was the 11th since ASD was launched in 2001, with the initial 300 million units, said PNB, Malaysia's biggest fund manager, in a statement Monday.
As of Jan 31, 2010, 3.36 billion units were subscribed by 271,226 unitholders, said PNB President and Group Chief Executive Tan Sri Hamad Kama Piah Che Othman in a statement.
Of the total, 89.92 per cent unitholders were aged 18 years' old, who invested in the scheme for education financing, he added.
ASD is an equity fund offered to Bumiputeras from as young as six-month-old at RM1 per unit. There is no limit to maximum units subscribed but subject to units available.
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