ASNB Sees Higher Dividends For 2023

unit trust income distribution

Amanah Saham Bumiputera (ASB) has declared a higher income distribution to unit holders for the financial year ending 31 December 2023 (FY2023) compared to last year. This was mainly due to overall better performance in several local sectors and the global investment climate.

Amanah Saham Nasional Bhd (ASNB), a wholly-owned unit trust management company of Permodalan Nasional Bhd (PNB), has declared an income distribution of 5.25 sen a unit for its flagship fund for FY2023.

“The total payout amounts to RM9.3 billion and will benefit 10.8 million ASB unitholders, ” the statement released by Permodalan Nasional Berhahd (PNB) highlighted.

“ASB continues to deliver sustainable and competitive returns, outperforming the benchmark of Maybank 12-month Fixed Deposit rate. ASB’s number of accounts increased by more than 200,000 to 10.8 million accounts, indicating continued confidence in ASB as an essential savings and investment tool for Bumiputeras in their financial planning,” the statement added.

ASB performed better despite decline in FBM KLCI

According to reporting by Bernama, Bank Muamalat Malaysia Bhd chief economist Dr Moh Afzanizam Abdul Rashid said that local sectors, as well as small and medium capitalised companies had recorded satisfactory performance; thus contributing to the increase in ASNB’s income.

“The dividend performance for this year for ASB unit trust managed by ASNB showed a commendable improvement compared with last year, even though the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) registered a decline of 2.5 percent year-to-date. 

The Property and Construction Indices showed a rise of 33.1 percent and 23.5 percent respectively, while the FBM Mid 70 and FBM Small Cap recorded an increasing trend of 11.6 percent and 8.6 percent,” he told Bernama.

Better performance attributed to investment strategy

Apart from this, it was also noted that the strategy for investment in the international market also contributed to the ASNB’s portfolio performance.

“The key global indices recorded a significant increase. For instance, (in the United States) the S&P 500 and the Nasdaq Composite rose 22.4 percent and 41.2 percent respectively. Hence, this provided strong support to the investment performance of ASB,” said Dr Moh Afzanizam.

It is also expected that the equity market will continue to be challenging in the future. Regardless, anticipation of interest rate cuts by the US Federal Reserve is expected to boost the market.

Read More: Everything You Need To Know About Amanah Saham Bumiputera

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