ASB, ASB2 investment limit raised to RM300,000 per account

ASB, ASB2 holding limit raised to RM300,000 per account

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KUALA LUMPUR (7 Oct): The government has raised the investment ceiling in Amanah Saham Bumiputera (ASB) and ASB2 to RM300,000, from RM200,000 currently, Finance Minister Tengku Datuk Seri Zafrul Aziz said.

This, as the government also announced that Bank SImpanan Nasional (BSN) will provide easy loans at 1.5% interest rate for B40 groups to invest in ASB totaling RM100 million, it said during the 2023 Budget presentation. at the Dewan Rakyat on Friday.

ASB and ASB2 units are priced at RM1 each.

Last year, Permodalan Nasional Bhd’s (PNB) flagship fund paid out 4.25 sen per unit, with an additional bonus of 0.75 sen per unit for the fiscal year ending December 31, 2021. This amounted to RM8 .9 billion in payments for the year. .

5 sen total returns for 2021 for ASB are the fund’s second lowest in over a decade, having been on the decline in recent years in the face of a challenging investment environment. His distribution was the lowest in 2020, with a total of 4.25 sen comprising a distribution of 3.5 sen and a bonus of 0.75 sen.

At the end of 2021, ASB units outstanding stood at 181.2 billion, up 4.3% or 7.4 billion from the previous year. Total unit owners rose to 10.4 million, 200,000 more than a year ago.

Meanwhile, ASB2 units outstanding stood at 11.96 billion units comprising 481,030 unit holders. The fund paid RM514.5 million or 4.3 sen per unit during the financial year ended March 31, 2022.

Get our comprehensive coverage of Budget 2023 here.

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