2013/14 - Amanah Saham Nasional Berhad

Transcription

www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014
PREFACE
The Unit holders and potential Unit holders of Sekim Amanah Saham Nasional (“ASN”), Amanah
Saham Nasional 2 (“ASN 2”), Amanah Saham Nasional 3 Imbang (“ASN 3”), Amanah Saham
Gemilang (“ASG”) and the three unit trust funds under its umbrella namely, Amanah Saham
Pendidikan (“ASG-Pendidikan”), Amanah Saham Kesihatan (“ASG-Kesihatan”) and Amanah
Saham Persaraan (“ASG-Persaraan”), Skim Amanah Saham Bumiputera (“ASB”), Amanah
Saham Wawasan 2020 (“ASW 2020”), Amanah Saham Malaysia (“ASM”), Amanah Saham Didik
(“ASD”) and Amanah Saham 1Malaysia (“AS 1Malaysia”) (collectively known as “Unit Trust Funds”
or “Funds”).
Dear Valued Investor,
On behalf of the Board of Directors of Amanah Saham Nasional Berhad (“The Manager”), we wish
to inform you that each of the Funds mentioned above has its own objective which is mentioned in
Sections 3.1 to 3.9 of this Prospectus. In order to achieve the investment objectives of the
respective Funds, various strategies will be adopted, which is suitable with the Funds objective as
mentioned in Sections 3.1 to 3.9 and Section 5.1 of this Prospectus.
Notwithstanding the above, Unit holders of the Fund should also be aware of the inherent risks of
investing in the Funds which include, among others, market risk, stock specific risk, fluctuation in
NAV and credit risk/default risk. Further information on the risk factors is detailed in Section 4 of
this Prospectus.
Therefore, investors should take into consideration the investment objectives, strategies and risks
before investing in the Funds. Please refer to Sections 3.1 to 3.9 for more information on the
profile of investors for each Fund. There are fees and charges that will be incurred by investors
when purchasing or redeeming units of the Funds such as sales charge, repurchase charge,
annual management fee and annual trustee fee. Further details of these fees and charges are
disclosed in Section 8 of this Prospectus. Units of the Funds may be acquired at any of our ASNB
offices or branches of our agents throughout Malaysia. Please refer to Sections 18 and 19 of this
Prospectus for more information on the Directory.
We recommend that potential investors read this Prospectus in its entirety before making an
investment decision and if you have any doubts, consult a professional adviser. If you have any
queries on our Funds, please feel free to contact our Customer and Agent Relations Department
at 03-20573000 email us at [email protected].
Thank you.
Yours faithfully,
For and on behalf of
The Board of Directors
Amanah Saham Nasional Berhad
Tun Ahmad Sarji bin Abdul Hamid
Chairman
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RESPONSIBILITY STATEMENT
This Prospectus has been reviewed and approved by the directors of the Management Company
and they collectively and individually accept full responsibility for the accuracy of the information.
Having made all reasonable enquiries, they confirm to the best of their knowledge and belief,
there are no false or misleading statements, or omission of other facts which would make any
statement in the Prospectus false or misleading.
STATEMENTS OF DISCLAIMER
The Securities Commission Malaysia has authorized the unit trust fund(s), and a copy of this
Prospectus has been registered with the Securities Commission Malaysia.
The authorization, and the registration of this Prospectus, should not be taken to indicate that the
Securities Commission Malaysia recommends the said unit trust fund(s) or assumes responsibility
for the correctness of any statement made or opinion or report expressed in this Prospectus.
The Securities Commission Malaysia is not liable for any non-disclosure on the part of the
Management Company responsible for the said unit trust fund(s) and takes no responsibility for
the contents in this Prospectus. The Securities Commission Malaysia makes no representation on
the accuracy or completeness of this Prospectus, and expressly disclaims any liability whatsoever
arising from, or in reliance upon, the whole or any part of its contents.
INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND
RISKS OF THE INVESTMENT. IN CONSIDERING THE INVESTMENT, INVESTORS WHO ARE
IN DOUBT ON THE ACTION TO BE TAKEN SHOULD CONSULT PROFESSIONAL ADVISERS
IMMEDIATELY.
No units of the said unit trust fund(s) will be issued or sold based on this Prospectus
later than one year after the date of this Prospectus.
Investors are advised to note that recourse for false or misleading statements or acts
made in connection with the Prospectus is directly available through sections 248, 249
and 357 of the Capital Markets and Services Act 2007.
| Responsibility Statement
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TABLE OF CONTENTS
1
GLOSSARY OF TERMS/ABBREVIATIONS
1
2
CORPORATE DIRECTORY
5
3
KEY DATA
3.1
ASN
3.2
ASN 2
3.3
ASN 3
3.4
ASG
3.5
ASB
3.6
ASW 2020
3.7
ASM
3.8
ASD
3.9
AS 1MALAYSIA
3.10
FEES & CHARGES – VARIABLE PRICE (ASN, ASN 2, ASN 3 AND ASG)
3.11
FEES & CHARGES – FIXED PRICE (ASB, ASW 2020, ASM, ASD AND AS 1MALAYSIA)
3.12
TRANSACTION INFORMATION
10
10
11
12
13
15
16
17
18
19
20
21
22
4
RISK FACTORS
4.1
GENERAL RISKS OF INVESTING IN UNIT TRUST FUND
4.2
SPECIFIC INVESTMENT RISKS
26
26
27
5
INFORMATION ON THE FUNDS
5.1
GENERAL INFORMATION ON THE FUNDS’ OBJECTIVE AND STRATEGY
5.2
GENERAL INFORMATION ON THE BENCHMARK
5.3
ASN
5.4
ASN 2
5.5
ASN 3
5.6
THE THREE FUNDS UNDER THE UMBRELLA OF ASG
5.7
ASB
5.8
ASW 2020
5.9
ASM
5.10
ASD
5.11
AS 1MALAYSIA
5.12
BASES OF VALUATION FOR INVESTMENTS
5.13
POLICY IN RESPECT OF VALUATION POINT(S) TO DETERMINE THE NAV OF THE
FUND
29
29
31
32
34
36
38
40
42
44
46
48
50
51
6
PERFORMANCE OF FUNDS
6.1
CHANGES IN BENCHMARK
52
52
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6.2
6.3
6.4
6.5
6.6
6.7
6.8
6.9
6.10
6.11
7
8.
9.
10
BASIS OF CALCULATIONS AND ASSUMPTIONS IN CALCULATION OF RETURN
PERFORMANCE OF ASN
PERFORMANCE OF ASN 2
PERFORMANCE OF ASG
PERFORMANCE OF ASB
PERFORMANCE OF ASW 2020
PERFORMANCE OF ASM
PERFORMANCE OF ASD
PERFORMANCE OF AS 1MALAYSIA
52
54
55
56
57
60
61
62
63
64
HISTORICAL FINANCIAL HIGHLIGHTS OF THE FUNDS
7.1
AN EXTRACT ON THE FUNDS’ AUDITED FINANCIAL STATEMENTS FOR THE LAST
THREE FINANCIAL YEARS
7.2
ASN
7.3
ASN 2
7.4
ASN 3
7.5
ASG
7.6
ASB
7.7
ASW 2020
7.8
ASM
7.9
ASD
7.10
AS 1MALAYSIA
7.11
TOTAL ANNUAL EXPENSES INCURRED BY THE FUNDS
7.12
MANAGEMENT EXPENSE RATIO
65
65
FEES, CHARGES AND EXPENSES
8.1
CHARGES AND FEES DIRECTLY INCURRED WHEN PURCHASING OR REDEEMING
UNITS OF THE FUNDS
8.2
CHARGES AND FEES INDIRECTLY INCURRED
73
73
9.1
VALUATION POINTS FOR THE PURPOSE OF DETERMINING THE NAV
9.2
NAV FOR ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan AND ASG-Persaraan
9.3
PRICING POLICY
9.4
SINGLE PRICING POLICY FOR ASN, ASN 2, ASN 3, ASG-PENDIDIKAN, ASGKESIHATAN AND ASG-PERSARAAN
9.5
TRANSACTION DETAILS
9.6
PAYMENT OF INCOME DISTRIBUTION
9.7
ADDITIONAL INFORMATION
77
77
77
77
78
MANAGEMENT AND ADMINISTRATION
10.1
GENERAL INFORMATION ON ASNB
10.2
THE BOARD OF DIRECTORS
91
91
91
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66
66
67
68
68
69
69
69
70
70
73
82
83
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10.3
10.4
10.5
10.6
10.7
10.8
10.9
10.10
10.11
10.12
COMPANY SECRETARY
KEY MANAGEMENT STAFF
SENIOR COMPLIANCE OFFICER
FINANCIAL INFORMATION ON ASNB
ROLES, DUTIES AND RESPONSIBILITIES OF THE MANAGEMENT COMPANY
FUNCTIONS OF THE INVESTMENT COMMITTEES OF THE FUNDS
THE INVESTMENT MANAGER
RETIREMENT, REMOVAL OR REPLACEMENT OF THE MANAGEMENT COMPANY
POWERS OF THE MANAGEMENT COMPANY TO REMOVE THE TRUSTEE
DISCLOSURE OF CURRENT MATERIAL LITIGATION AND ARBITRATION
94
94
95
96
96
96
99
104
105
105
11.
TRUSTEE
11.1
GENERAL INFORMATION
11.2
FINANCIAL INFORMATION
11.3
BOARD OF DIRECTORS
11.4
11.5
DUTIES AND OBLIGATIONS
11.6
RETIREMENT, REMOVAL AND REPLACEMENT
11.7
POWER OF TRUSTEE TO REMOVE OR REPLACE THE MANAGER
11.8
STATEMENT OF RESPONSIBILITY
11.9
106
106
106
106
107
107
108
108
108
108
12
SALIENT TERMS OF THE DEED
12.1
RIGHTS AND LIABILITIES OF UNITHOLDERS
12.2
MAXIMUM FEES AND CHARGES PERMITTED BY THE DEED
12.3
INCREASE IN FEES AND CHARGES FROM THE LEVEL DISCLOSED IN THE PROSPECTUS
AND THE MAXIMUM
RATE PROVIDED IN THE DEED
12.4
PERMITTED EXPENSES PAYABLE OUT OF THE FUNDS' PROPERTY
12.5
REMOVAL, RETIREMENT AND REPLACEMENT OF THE MANAGER AND THE TRUSTEE
12.6
TERMINATION OF THE FUND
12.7
UNITHOLDERS’ MEETING
109
109
111
113
RELATED PARTY TRANSACTIONS/CONFLICT OF INTEREST
13.1
EXISTING AND POTENTIAL RELATED PARTY TRANSACTIONS
13.2
CONFLICT OF INTEREST
13.3
POLICIES ON DEALING WITH CONFLICT OF INTEREST SITUATIONS
13.4
DETAILS OF ASNB'S DIRECTOR'S DIRECT AND INDIRECT INTEREST IN OTHER
CORPORATIONS CARRYING ON
A SIMILAR BUSINESS
13.5
DETAILS OF ASNB’S SUBSTANTIAL SHAREHOLDERS’ DIRECT AND INDIRECT
INTEREST IN OTHER CORPORATIONS CARRYING ON A SIMILAR BUSINESS
13.6
DECLARATION OF CONFLICT OF INTEREST
126
126
126
126
127
13
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119
119
122
127
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14
TAXATION OF THE FUNDS
129
15
CONSENTS
130
16
APPROVAL AND CONDITIONS
16.1
EXEMPTIONS/VARIATIONS FROM THE SC GUIDELINES
16.2
SPECIFICATION FROM SECURITIES COMMISSION TO THE FIXED-PRICED FUNDS ON
THE APPLICATION OF MFRS
131
131
141
17
DOCUMENTS AVAILABLE FOR INSPECTION
142
18
DIRECTORY
18.1
ASNB OFFICES
18.2
CUSTOMER AND AGENT RELATIONS DEPARTMENT
143
143
145
19
LIST OF AGENTS
146
20
APPLICATION FORMS AND LOAN FINANCING RISK DISCLOSURE STATEMENT
147
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ASNB MASTER PROSPECTUS 2013/2014 1. GLOSSARY OF TERMS/ABBREVIATIONS In this Prospectus, except where the context otherwise requires, the following words and
expressions shall bear the following meanings:
Act
The Capital Markets and Services Act, 2007, including all amendments
thereto and all regulations, rules and guidelines issued in connection
therewith
AMB
Amanah Mutual Berhad (195414-U)
ASB
Skim Amanah Saham Bumiputera
ASD
Amanah Saham Didik
ASG
Amanah Saham Gemilang, the umbrella fund for Amanah Saham
Pendidikan, Amanah Saham Kesihatan and Amanah Saham Persaraan
ASG- Kesihatan
Amanah Saham Kesihatan
ASG-Pendidikan
Amanah Saham Pendidikan
ASG- Persaraan
Amanah Saham Persaraan
ASM
Amanah Saham Malaysia
AS 1Malaysia
Amanah Saham 1Malaysia
ASN
Sekim Amanah Saham Nasional
ASN 2
Amanah Saham Nasional 2
ASN 3
Amanah Saham Nasional 3 Imbang
ASW 2020
Amanah Saham Wawasan 2020
ASNB
Amanah Saham Nasional Berhad (47457-V)
Bursa Malaysia
Bursa Malaysia Securities Berhad (635998-W)
Business Day
A day on which the Bursa Malaysia is open for dealings
Deed
For each of the Funds, the respective Principal Deed and Supplementary
Deeds particularly:
In respect of ASN, the Deed dated 14 April 1981, made between the
Manager, the Trustee and the Unit holders, together with the
Supplementary Deeds dated 30 December 1981, 15 November 1990, 30
December 1991, 10 July 1993, 1 November 1997, 13 February 2004, 17
November 2006, 18 May 2007, 28 May 2008, 10 July 2008, 10 June 2010
and 31 May 2011
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ASNB MASTER PROSPECTUS 2013/2014 In respect of ASN 2, the Deed dated 8 June 1999, made between the
Supplementary Deeds dated 23 November 2000, 13 February 2004, 17
November 2006, 28 May 2008, 10 July 2008 10 June 2010 and 31 May
2011
In respect of ASN 3, the Deed dated 24 September 2001, made between
the Manager the Trustee, and the Unit holders, together with the
Supplementary Deeds dated 17 November 2006, 28 May 2008, 10 July
2008, 10 June 2010 and 31 May 2011
In respect of ASG, the Deed dated 11 March 2003, between the Manager,
the Trustee and the Unit holders, together with the Supplementary Deeds
dated 17 November 2006, 28 May 2008, 10 July 2008, 10 June 2010
and 31 May 2011
In respect of ASB, the Deed dated 21 October 1989, made between the
Supplementary Deeds dated 18 December 1993, 1 November 1997, 23
November 2000, 13 February 2004, 17 November 2006, 28 May 2008,
10 July 2008, 29 October 2008, 10 June 2010, 31 May 2011 and 23
December 2011
In respect of ASW 2020, the Deed dated 14 August 1996, made between
the Manager, the Trustee and the Unit holders, together with the
Supplementary Deeds dated 13 February 2004, 3 December 2004, 11
August 2006, 17 November 2006, 28 May 2008, 10 July 2008, 10 June
2010 and 31 May 2011
In respect of ASM, the Deed dated 13 April 2000, made between the
Supplementary Deeds dated 13 February 2004, 17 November 2006, 28
May 2008, 10 July 2008, 10 June 2010 and 31 May 2011
In respect of ASD, the Deed dated 14 April 2001, made between the
Supplementary Deeds dated 13 February 2004, 17 November 2006, 28
May 2008, 10 July 2008, 10 June 2010 and 31 May 2011
In respect of AS 1Malaysia, the Deed dated 25 June 2009, made between
the Manager and the Trustee for the benefit of the Unit holders, together
with the Supplementary Deeds dated 10 June 2010 and 31 May 2011
Eligible Market
Any market, such as the stock market, futures market, money market and
over-the-counter private debt securities market, as agreed in writing from
time to time by the Manager and Trustee, which falls within the definition
of an eligible market as defined in the Guidelines
EPF
Employees Provident Fund Board, established under the Employees
Provident Fund Act, 1991
EPF Members’
Investment
A facility or scheme that allows the EPF members to invest their
contribution in the EPF in the approved Funds of ASNB, subject to the
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ASNB MASTER PROSPECTUS 2013/2014 Scheme
rules and regulations of the EPF
FBM 100
FTSE Bursa Malaysia Top 100 Index
Guidelines
Guidelines on Unit Trust Funds of the Securities Commission Malaysia
Hibah Amanah
A facility offered by the Manager, which combines both principles of Hibah
and Amanah. It is a gift of the Unit holder’s/donor’s investments in the
Fund(s) to named beneficiary (ies)/donee without any consideration, which
is formalized through a deed of Hibah Amanah. Distribution and payment
of proceeds of the investments in the Fund(s) to the
beneficiary(ies)/donee, which is the subject matter of the Hibah Amanah,
shall only take effect after the death of the Unit holder/donor
Kuala Lumpur Interbank Offered Rates
KLIBOR
LPD
31 May 2013, being the latest practicable date for the purposes of
ascertaining the information contained in this Prospectus
Manager/
Management
Company
ASNB being the Manager of ASN, ASN 2, ASN 3, ASG-Pendidikan, ASGKesihatan, ASG-Persaraan, ASB, ASW 2020, ASM, ASD and AS
1Malaysia
Management
Expense
Ratio (MER)
For ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASGPersaraan, the ratio of the sum of fees and recovered expenses of the
respective Fund to the average Net Asset Value of the Fund that is
calculated on daily basis
For ASB, ASW 2020, ASM, ASD and AS 1Malaysia, the ratio of the sum
of fees and recovered expenses of the respective Fund to the average
Value of the Fund at cost that is calculated on daily basis
MARC
Malaysian Rating Corporation Berhad (364803-V)
MFRS
Malaysian Financial Reporting Standards issued by the Malaysian
Accounting Standards Board and amended from time to time.
MGS
Malaysian Government Securities
Minimum Initial
Investment
The minimum number of units that an eligible investor shall purchase as
an initial investment in the Fund
Net Asset Value
(NAV)
The NAV is determined by deducting the value of the Fund’s liabilities
from the value of the Fund’s assets, at the Valuation Point
NAV per unit
The NAV of the Fund divided by the UIC
Pengisytiharan
Amanah
A facility offered by the Manager, based on the principles of trust. The Unit
holder/settlor declares or trust over the Unit holder’s/settlor’s investments
in the Fund(s) to named beneficiary(ies) during his lifetime, which is
formalized through a deed of Pengisytiharan Amanah. Distribution and
payment of proceeds of the investments in the Fund(s), held on trust to
the named beneficiaries, shall only take effect after the death of the Unit
holder/settlor
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ASNB MASTER PROSPECTUS 2013/2014 PHNB
Pelaburan Hartanah Nasional Berhad (175967-W)
PNB
Permodalan Nasional Berhad (38218-X), the holding company of ASNB,
and the Investment Manager of ASN, ASN 2, ASN 3, ASG-Pendidikan,
ASG-Kesihatan, ASG-Persaraan, ASB, ASW 2020, ASM, ASD and AS
1Malaysia
Portfolio
Turnover
Ratio (PTR)
For ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASGPersaraan, the ratio of the average total acquisitions and disposals of the
Fund for the year to the average Net Asset Value of the Fund that is
calculated on daily basis
RAM Ratings
For ASB, ASW 2020, ASM, ASD and AS 1Malaysia, the ratio of the
average total acquisitions and disposals of the Fund for the year to the
average Value of the Fund at cost that is calculated on daily basis
RAM Rating Services Berhad (763588-T)
RM and sen
The legal currency of Malaysia
SC
Securities Commission Malaysia established under the Securities
Commission Act 1993
Trustee
AmanahRaya Trustees Berhad (766894-T)
UIC
Units in circulation
Unit Trust
Fund/Fund
ASN, or ASN 2, or ASN 3, or ASG-Pendidikan, or ASG-Kesihatan, or
ASG-Persaraan or ASB, or ASW 2020, or ASM, or ASD ,or AS 1Malaysia,
as the case may be
Unit Trusts/
Unit Trust Funds/
Funds
Unit holder/
Registered
Holder
Valuation Point
All or any of ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan, ASGPersaraan, ASB, ASW 2020, ASM, ASD and AS 1Malaysia
Value of the Fund
(VOF)
For ASB, ASW 2020, ASM, ASD and AS 1Malaysia, the VOF is
determined by deducting the value of the Fund’s liabilities from the value
of the Fund’s assets at cost
The person registered for the time being as a holder of units in any Fund
in accordance with the provisions of the respective Deed
Valuation is done at mid-day and at the end of each Business Day
Definitions or meanings of words not otherwise expressed above shall follow the meaning or
interpretation as ascribed in the Guidelines and any other relevant laws governing unit trust
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ASNB MASTER PROSPECTUS 2013/2014 2. CORPORATE DIRECTORY Manager/ Management Company
ASNB (47457-V)
Registered Office of ASNB
4th Floor, Balai PNB
201-A, Jalan Tun Razak
50400 Kuala Lumpur
Tel: 03-2050 5100
Business Office
ASNB Main Counter
First Floor, Balai PNB
50400 Kuala Lumpur
Tel: 03-2050 5100
Website: www.asnb.com.my
Trustee
AmanahRaya Trustees Berhad (766894-T)
Registered Office
Tingkat 11, Wisma AmanahRaya
No. 2, Jalan Ampang
50508 Kuala Lumpur
Tel : 03-2055 7388
Business Office
Tingkat 2, Wisma TAS
No. 21, Jalan Melaka
50100 Kuala Lumpur
Tel: 03-2036 5000/03-2036 5129
Website: www.artrustees.com.my
Board of Directors of ASNB
1. Tun Ahmad Sarji bin Abdul Hamid
Chairman (Non-Executive/Non-Independent Director)
2. Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman
Director (Executive/Non-Independent Director)
3. Tan Sri Dato’ Dr. Wan Mohd. Zahid bin Mohd. Noordin
Director (Non-Executive/Independent Director)
4. Tan Sri Dato’ Md. Desa bin Pachi
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ASNB MASTER PROSPECTUS 2013/2014 5. Tan Sri Dato’ Seri Ainum binti Mohamed Saaid
6. Dato’ Idris bin Kechot
Board of Directors of PNB
(Investment Manager of the Funds)
Chairman (Non-Executive/Non-Independent Director)
3. Tan Sri Asmat bin Kamaludin
4. Tan Sri Datuk Amar Bujang bin Mohammed Bujang Mohammed Nor
5. Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah
6. Tan Sri Dato’ Seri Ainum binti Mohamed Saaid
Members of Investment Committee of ASB, ASM, ASD, AS 1Malaysia, ASN, ASN 2,
ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan
Chairman (Non-Independent Member)
(Non-Independent Member)
(Independent Member)
5. Dato’ Dr. Abdul Halim bin Ismail
Members of Investment Committee of ASW 2020
Chairman (Independent Member)
2. Tan Sri Faizah binti Mohd Tahir
4. Encik Cheng Kee Check
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ASNB MASTER PROSPECTUS 2013/2014 Audit Committee of the Board of Directors of PNB
3. Tan Sri Datuk Amar Bujang bin Mohammed Bujang Mohammed Nor
Compliance Committee of the Board of Directors of PNB
4. Encik Paisol bin Ahmad
Risk Management Committee of the Board of Directors of PNB
1. Tan Sri Datuk Amar Bujang bin Mohammed Bujang Mohammed Nor (Chairman)
2. Tan Sri Asmat bin Kamaludin
4. Tan Sri Dato’ Seri Ainum binti Mohamed Saaid
President and Group Chief Executive, PNB
Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman
Deputy President - Corporate and International, PNB
Datin Paduka Jamiah binti Abdul Hamid
Deputy President - Unit Trust/
Executive Director of ASNB
Dato’ Idris bin Kechot
Company Secretary
Puan Adibah Khairiah binti Ismail @ Daud (MIA 13755)
50400 Kuala Lumpur
Tel: 03-2050 5100
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ASNB MASTER PROSPECTUS 2013/2014 Investment Manager of the Funds
Permodalan Nasional Berhad (38218-X)
50400 Kuala Lumpur
Tel: 03-2050 5100
Website: www.pnb.com.my
Auditors
Messrs. Hanafiah Raslan & Mohamad (AF 0002)
Level 23A, Menara Milenium
Jalan Damanlela, Pusat Bandar Damansara
50490 Kuala Lumpur
Tel: 03-7495 8000
ASNB Offices and Agents
Please refer to Sections 18 and 19 for further details
FEDERATION OF INVESTMENT MANAGERS MALAYSIA (FiMM)
19-07-03, 7th Floor
PNB Damansara
19, Lorong Dungun, Damansara Heights
50490 Kuala Lumpur
Tel: 03-2093 2600
Website: www.fimm.com.my
Solicitors
1. Messrs. Zain & Co.
6th & 7th Floors, Menara Etiqa
23, Jalan Melaka
50100 Kuala Lumpur
Tel: 03-2698 6255
2. Messrs. Zainal Abidin & Co.
Suite 1803 - 1806, 18th Floor, Plaza Permata
Jalan Kampar Off Jalan Tun Razak
50400 Kuala Lumpur
Tel: 03-4041 5266
3. Messrs. Hamzah & Ong Advocates
Lot 216, Tingkat 1
Jalan Haji Taha
93400 Kuching
Sarawak
Tel: 082-246 876
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ASNB MASTER PROSPECTUS 2013/2014 4. Messrs. Marzuki Spawi & Co.
Suite 12, 1st Floor
Likas Square Commercial Centre
1 Jalan Istiadat, Likas
P.O Box 14795
88855, Kota Kinabalu
Sabah
Tel: 088 -246 142 / 088-234 937
Principal Bankers
1. Malayan Banking Berhad (3813-K).
14th Floor, Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur
Tel: 03-2070 8833
2.
CIMB Bank Berhad (13491-P)
5th Floor, Bangunan CIMB
Jalan Semantan, Damansara Heights
50490 Kuala Lumpur
Tel: 03-2093 0379
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ASNB MASTER PROSPECTUS 2013/2014 3. KEY DATA Investors are advised that this section is only a summary of the salient information about the
Funds. Investors should read and understand the whole Prospectus, before making any
investment decisions.
3.1
ASN
Page
Fund Name
ASN
Fund Category/Type
Equity/Growth.
Date of Launching
20 April 1981.
Investment
Objective
The Fund seeks to generate reasonable level of distribution income and capital
appreciation to the Unit holders through a diversified portfolio of investments.
29
Principal Investment
Strategy
The Fund will diversify its portfolio through asset allocation in equities, fixed income
securities and money market instruments and diversify its equity portfolio through
sectoral allocation in order to minimise the volatility of the portfolio and generate
competitive returns in the long run.
32
Asset Allocation
The Fund will invest up to 90% of its NAV in equities, while maintaining at least 10%
in other capital market instruments, inclusive of liquid assets.
32
Performance
Benchmark
80% FBM 100 and 20% 3-month KLIBOR.
31
Principal Risks of
Investing
•
•
•
Investors’ Profile
• Have a medium to long-term investment horizon.
• Understand investment risk and reward.
• Seek capital growth.
Distribution Policy
The Fund will distribute earnings from its income, if any, to you, at our discretion,
subject to approval from the Trustee.
Approved Fund Size
2.5 billion units.
UIC as at LPD
1.54 billion units.
Pricing
NAV per unit which is determined based on historical pricing is calculated at the end
of the preceding Business Day. However, sales charge of 5% of the NAV per unit is
imposed, at our discretion, subject to approval from the Trustee.
Financial Year End
31 December.
Deed
The Deed dated 14 April 1981, made between the Manager, the Trustee and the
Unit holders, together with the Supplementary Deeds dated 30 December 1981,
15 November 1990, 30 December 1991, 10 July 1993, 1 November 1997,
13 February 2004, 17 November 2006, 18 May 2007, 28 May 2008, 10 July 2008,
10 June 2010 and 31 May 2011.
Eligibility
•
Malaysian Bumiputera
- Akaun Dewasa (18 years and above).
- Akaun Remaja (18 years and above as guardian for minors aged six (6)
months old and above but below 18 years. Both guardian and minor must be
Malaysian Bumiputera).
• Others as specified by the Deed.
Fund Allocation
Not Applicable.
Capital Market Risk.
Stock Specific Risk.
Credit Risk/Default Risk.
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77-78
88
10 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 3.2
ASN 2
Fund Name
ASN 2
Fund
Category/Type
Equity/Growth.
Date of
Launching
9 June 1999.
Investment
Objective
To provide Unit holders with a reasonable dividend yield as well as
capital appreciation at an acceptable level of risk through investments
made in accordance with the Deed, the Guidelines and securities law in
a diversified portfolio of securities, principally in Malaysian equity
securities.
29
Principal
Investment
Strategy
The Fund will diversify its portfolio through asset allocation in equities,
fixed income securities and money market instruments and diversify its
equity portfolio through sectoral allocation in order to minimise the
volatility of the portfolio and generate competitive returns in the long run.
34
Asset Allocation
The Fund will invest up to 90% of its NAV in equities, while maintaining
at least 10% in other capital market instruments, inclusive of liquid
assets.
34
Performance
Benchmark
31
Principal Risks
of Investing
•
2628
•
•
Investors’
Profile
Distribution
Policy
The Fund will distribute earnings from its income, if any, to you, at our
discretion, subject to approval from the Trustee.
Approved Fund
Size
2.5 billion units.
UIC as at LPD
178.04 million units.
Pricing
NAV per unit which is determined based on historical pricing is
calculated at the end of the preceding Business Day. However, sales
charge of 5% of the NAV per unit is imposed, at our discretion, subject
to approval from the Trustee.
Financial Year
End
30 June.
Deed
The Deed dated 8 June 1999, made between the Manager, the Trustee
and the Unit holders, together with the Supplementary Deeds dated 23
November 2000,
13 February 2004, 17 November 2006, 28 May
2008, 10 July 2008, 10 June 2010 and 31 May 2011.
Eligibility
• Malaysian Bumiputera aged 18 years and above.
Fund Allocation
Not Applicable.
Page
7778
88
11 www.asnb.com.my
ASN 3
Fund Name
ASN 3
Fund
Category/Type
Equity and other capital market instruments/Balanced.
Date of
Launching
16 October 2001.
Investment
Objective
To generate capital growth over the medium to long-term period by
investing in a balanced portfolio of investments and through re-investment
of distribution, if any.
29
Principal
Investment
Strategy
The Fund will diversify its portfolio through asset allocation in equities, fixed
income securities and money market instruments and diversify its equity
portfolio through sectoral allocation in order to minimise the volatility of the
portfolio and generate competitive returns in the long run.
36
Asset Allocation
The Fund will invest up to 75% of its NAV in equities while maintaining at
least 25% in other capital market instruments, inclusive of liquid assets.
36
Performance
Benchmark
31
Principal Risks
of Investing
•
2628
•
•
Investors’
Profile
• Seek balanced growth.
Distribution
Policy
Approved Fund
Size
1.0 billion units.
UIC as at LPD
Pricing
NAV per unit which is determined based on historical pricing is calculated at
the end of the preceding Business Day. However, sales charge of 5% of the
NAV per unit is imposed, at our discretion, subject to approval from the
Trustee.
Financial Year
End
30 November.
Deed
The Deed dated 24 September 2001, made between the Manager, the
Trustee, and the Unit holders, together with the Supplementary Deeds
dated 17 November 2006, 28 May 2008, 10 July 2008, 10 June 2010 and
31 May 2011.
Eligibility
• Malaysians aged 18 years and above.
Fund Allocation
Not Applicable.
Page
7778
88
12 www.asnb.com.my
ASG
Fund Name
Fund
Category/Type
Date of Launching
Investment
Objective
ASG - PENDIDIKAN
Fixed income securities
and
other
capital
market
instruments/Growth and
Income.
ASG - KESIHATAN
Equity/Growth
and
Income.
ASG - PERSARAAN
Fixed income securities
and other capital market
instruments/Growth and
Income.
Page
To provide investment
opportunity
which
generates
reasonable
long-term growth and
returns, and a reliable
income stream to enable
the Unit holders and/or
their
children
and/or
charges to meet part or
all of their retirement
needs.
29
opportunity
which
generates reasonable
returns to meet part or
all of the periodic
liquidity requirements of
the Unit holders and
enable them to fulfil the
financial
planning
needs for education of
the Unit holders and/or
their children and/or
charges.
17 March 2003.
opportunity
which
generates reasonable
returns to fulfil part or
all of the immediate
liquidity requirements to
enable the Unit holders
and/or their children
and/or
charges
to
continuously meet their
ongoing
medical
requirements in the
long-term.
Principal
Investment
Strategy
The Fund will diversify
its portfolio through
asset
allocation
in
equities, fixed income
securities and money
market instruments and
diversify
its
equity
portfolio
through
sectoral allocation in
order to minimise the
volatility of the portfolio
and
generate
competitive returns in
the long run.
The Fund will diversify
its portfolio through
asset
allocation
in
equities, fixed income
securities and money
market instruments and
diversify
its
equity
portfolio
through
sectoral allocation in
and
generate
competitive returns in
the long run.
The Fund will diversify its
portfolio through asset
allocation in equities,
fixed income securities
and
money
market
instruments and diversify
its equity portfolio through
sectoral allocation
in
and generate competitive
returns in the long run.
38
Asset Allocation
The Fund will invest
between 20% and 70%
of its NAV in fixed
income securities and
cash equivalent, and
the
remaining
in
equities
and
other
capital
market
instruments.
60% FBM 100 and
40% 3-month KLIBOR.
The Fund will invest up
to 90% of its NAV in
equities,
while
maintaining at least
10% in other capital
market
instruments,
inclusive
of
liquid
assets.
The Fund will invest
between 20% and 80% of
its NAV in fixed income
securities
and
cash
equivalent,
and
the
remaining in equities and
other
capital
market
instruments.
38
70% FBM 100 and
30% 3-month KLIBOR.
40% FBM 100 and
60% 3-month KLIBOR.
31
Performance
Benchmark
Principal Risks of
Investing
• Capital Market Risk.
• Stock Specific Risk.
• Credit Risk/Default Risk.
• Have a long-term •
investment horizon.
•
• Understand
investment risk and
reward.
2628
Have a long-term • Have
a
long-term
investment horizon.
investment horizon.
Understand
• Understand
investment risk and
investment risk and
reward.
reward.
13 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Fund Name
ASG - PENDIDIKAN
ASG - KESIHATAN
ASG - PERSARAAN
• Seek balanced growth.
This Fund would be
suitable for:
• Those who wish to
have an avenue to
save in a fund
specially meant to
finance part or all of
their
expected
educational
expenses, and/or
start
long-term
saving for each of
their
children
or
charges under their
guardianship, in a
fund
specifically
meant to finance
their
expected
educational
expenses, and/or
utilise the proceeds
from distribution of
income, if any, to
finance the insurance
premium
for
education purposes.
This Fund would be
suitable for:
• Those who are not
insured for medical
purposes, and/or
have a fund specially
meant to finance
their expected future
medical expenses,
and/or
• Those who have
limited cashflow and
find it difficult to
participate in any
medical
insurance
policy which requires
regular and fixed
monthly
premium
payment, and/or
start saving for each
of their children or
charges under their
guardianship so that
the children would
have funds meant to
finance
their
expected
future
medical expense.
This Fund would be
suitable for:
• Those who are selfemployed and wish to
have an avenue to
save
for
their
retirement, and/or
• Those who already
have
retirement
benefits but wish to
have
additional
avenue for long-term
saving in a fund
specifically meant to
finance their retirement
expenses, and/or
start long-term saving
for
the
future
retirement
of
their
children or charges
under
their
guardianship.
Distribution
Policy
Approved Fund
Size
UIC as at LPD
Collectively the three unit trust funds under the umbrella of ASG have
cumulative maximum size of 1.0 billion units.
Pricing
NAV per unit which is determined based on historical pricing is calculated at
the end of the preceding Business Day.
Financial Year
End
Deed
Eligibility
Fund Allocation
Page
7778
However, sales charge of 5% of the NAV per unit is imposed, at our discretion,
subject to approval from the Trustee.
31 March.
The Deed dated 11 March 2003, between the Manager, the Trustee and the
Unit holders, together with the Supplementary Deeds dated 17 November
2006, 28 May 2008, 10 July 2008, 10 June 2010 and 31 May 2011.
• Malaysians.
- Akaun Bijak (18 years and above as guardian for minors aged six (6)
months old and above but below 18 years. Both guardian and minor must
be Malaysian).
Not Applicable.
88
14 www.asnb.com.my
ASB
Fund Name
ASB
Fund
Category/Type
Equity/Income.
Date of
Launching
2 January 1990.
Investment
Objective
To generate long-term, consistent and competitive returns to the Unit holders
whilst ensuring the preservation of capital at minimal risk tolerance level.
29
Principal
Investment
Strategy
portfolio through sectoral allocation in order to preserve the value of the capital
and generate competitive returns in the long run.
40
Asset Allocation
The Fund seeks to achieve its objective by investing up to 95% of its VOF in
equities, while maintaining at least 5% in other capital market instruments,
inclusive of liquid assets. The investment strategy will also be designed to
preserve the capital of the Fund in the long-term period while at the same time
to seek potential income from its investment.
40
Performance
Benchmark
3-month KLIBOR.
31
Principal Risks
of Investing
•
•
•
Those who understand investment risk and reward and expect to benefit from
long-term growth of the Fund through re-investment of distribution (if any) as
well as to receive regular income (if any) on their capital.
Distribution
Policy
Approved Fund
Size
Unlimited.
UIC as at LPD
121.57 billion units.
Pricing
Fixed at RM1.00 per unit.
Financial Year
End
31 December.
Deed
The Deed dated 21 October 1989, made between the Manager, the Trustee
December 1993, 1 November 1997, 23 November 2000, 13 February 2004, 17
November 2006, 28 May 2008, 10 July 2008, 29 October 2008, 10 June
2010,
31 May 2011 and 23 December 2011.
Eligibility
• Malaysian Bumiputera.
months old and above but below 18 years. Both guardian and minor
must be Malaysian Bumiputera).
Fund Allocation
Not Applicable.
Page
26-28
78
88
15 www.asnb.com.my
ASW 2020 Fund Name
ASW 2020
Page
Fund
Category/Type
Equity/Income.
Date of
Launching
28 August 1996.
Investment
Objective
To provide a reasonable level of regular distribution income to Unit holders
from investments in a selected portfolio of authorised investments.
30
Principal
Investment
Strategy
42
Asset Allocation
42
Performance
Benchmark
3-month KLIBOR.
31
Principal Risks
of Investing
Those who understand investment risk and reward and expect to benefit from
long-term growth of the Fund through re-investment of distribution (if any) as
well as to receive regular income (if any) on their capital.
Distribution
Policy
Approved Fund
Size
UIC as at LPD
Pricing
Financial Year
End
31 August.
Deed
The Deed dated 14 August 1996, made between the Manager, the Trustee
February 2004, 3 December 2004, 11 August 2006, 17 November 2006, 28
May 2008, 10 July 2008, 10 June 2010 and 31 May 2011.
Eligibility
• Malaysians.
26-28
78
89
be Malaysian).
Fund Allocation
Minimum of 51% of the approved Fund size is for eligible Malaysian
Bumiputera, while the remaining 49% is for eligible Malaysians.
16 www.asnb.com.my
ASM
Fund Name
ASM
Fund
Category/Type
Equity/Income.
Date of Launching
20 April 2000.
Investment
Objective
To provide Unit holders with a long-term investment opportunity that
generates regular and competitive returns through a diversified portfolio
of investments.
30
Principal
Investment
Strategy
The Fund will diversify its portfolio through asset allocation in equities,
fixed income securities and money market instruments and diversify its
equity portfolio through sectoral allocation in order to preserve the value
of the capital and generate competitive returns in the long run.
44
Asset Allocation
The Fund seeks to achieve its objective by investing up to 95% of its
VOF in equities, while maintaining at least 5% in other capital market
instruments, inclusive of liquid assets. The investment strategy will also
be designed to preserve the capital of the Fund in the long-term period
while at the same time to seek potential income from its investment.
44
Performance
Benchmark
3-month KLIBOR.
31
Principal Risks of
Investing
•
Those who understand investment risk and reward and expect to benefit
from long-term growth of the Fund through re-investment of distribution
(if any) as well as to receive regular income (if any) on their capital.
Distribution
Policy
Approved Fund
Size
UIC as at LPD
Pricing
Financial Year
End
31 March.
Deed
The Deed dated 13 April 2000, made between the Manager, the Trustee
February 2004, 17 November 2006, 28 May 2008, 10 July 2008, 10 June
2010 and 31 May 2011.
Eligibility
• Malaysians.
Page
26-28
78
89
- Akaun Bijak (18 years and above as guardian for minors aged six
(6) months old and above but below 18 years. Both guardian and
minor must be Malaysian).
Fund Allocation
Not Applicable.
17 www.asnb.com.my
ASD
Fund Name
ASD
Page
Fund
Category/Type
Equity/Growth.
Date of
Launching
20 April 2001.
Investment
Objective
To provide investment opportunity that generates reasonable long-term growth
and return.
30
Principal
Investment
Strategy
46
Asset Allocation
46
Performance
Benchmark
3-month KLIBOR.
31
Principal Risks
of Investing
Those who understand investment risk and reward and are seeking growth of
capital over the long-term period through re-investment of distribution (if any),
for providing future financial needs for education expenses of the investors and
those of their families.
Distribution
Policy
Approved Fund
Size
UIC as at LPD
4.52 billion units.
Pricing
Financial Year
End
30 June.
Deed
The Deed dated 14 April 2001, made between the Manager, the Trustee and
the Unit holders, together with the Supplementary Deeds dated 13 February
2004,
17 November 2006, 28 May 2008, 10 July 2008, 10 June 2010
and 31 May 2011.
Eligibility
• Malaysian Bumiputera.
26-28
78
89
-
Akaun Dewasa (18 years and above).
Akaun Bijak (18 years and above as guardian for minors aged six (6)
be Malaysian Bumiputera).
Fund Allocation
Not Applicable.
18 www.asnb.com.my
AS 1MALAYSIA
Fund Name
AS 1MALAYSIA
Fund
Category/Type
Equity/Income.
Date of
Launching
5 August 2009.
Investment
Objective
The Fund seeks to provide regular and consistent income stream whilst
preserving the Unit holders’ investment capital over a long term horizon
through a diversified portfolio of investment.
30
Principal
Investment
Strategy
The Fund will invest in a mix of assets comprising primarily in equities, fixed
income securities and other capital market instruments to generate the
expected competitive returns at reasonable risk level.
48
Asset Allocation
inclusive of liquid assets.The investment strategy will also be designed to
48
Performance
Benchmark
Average 5-year MGS yield.
31
Principal Risks
of Investing
•
•
•
Investors who:
• Seek regular income (if any) for their investments.
Distribution
Policy
The Fund will distribute its income, if any, to you, at our discretion, subject to
approval from the Trustee.
Approved Fund
Size
14.0 billion units.
UIC as at LPD
9.06 billion units.
Pricing
Financial Year
End
30 September.
Deed
The Deed dated 25 June 2009, made between the Manager and the Trustee
for the benefits of Unit holders, together with the Supplementary Deeds dated
10 June 2010 and 31 May 2011.
Eligibility
• Malaysians.
Stock Specific Risk
Page
26-28
78
89
- Akaun Bijak (18 years and above as guardian for minors aged six (6)
be Malaysian).
Fund Allocation
The Manager has the absolute discretion to offer the units in any manner
deemed appropriate.
19 www.asnb.com.my
FEES & CHARGES – VARIABLE PRICE (ASN, ASN 2, ASN 3 AND ASG)
You must understand that there are fees and charges that are directly and indirectly charged to you
before investing in the Funds. All charges are non-negotiable.
This table describes the charges that you may DIRECTLY incur when you buy or redeem units of the
Funds.
Charges
ASN
ASN 2
Sales Charge1
5% of NAV per
unit
Nil
5% of NAV per unit.
EPF Members’ Investment Scheme: Up to 3% of NAV per unit.
Nil
Nil
Nil
Nil
Nil
Nil
Not
applicable
Not
applicable
Redemption
Charge
Switching Fee
Transfer Fee
Not applicable
ASN 3
Not
applicable
Not
applicable
ASGPendidikan
ASGKesihatan
ASGPersaraan
Nil
Nil
Nil
Not
applicable
Not
applicable
Not
applicable
Note:
1. The Deed of each Fund allows us to charge a sales charge of up to a maximum of 10% of the NAV per unit
of each Fund.
This table describes the fees that you may INDIRECTLY incur when you invest in the Funds.
Fees
ASN
Annual
Management
Fee
Up to a maximum of
1.0% per annum of the
NAV of the Fund,
calculated
and
accrued daily, as may
be agreed between
the
Trustee
and
Manager.
Annual
Trustee's Fee
RM500,000 or 0.08%
per annum of the NAV
of the Fund, whichever
is lower, calculated
and accrued daily.
Fund
Expenses
ASN 2
ASN 3
ASGASGASG-Persaraan
Pendidikan
Kesihatan
Up to a maximum of 1.5% per annum of the NAV of the Fund,
calculated and accrued daily, as may be agreed between the
Trustee and Manager.
RM300,000
RM450,000 or 0.07% per annum of the NAV of the
or 0.08% per Fund, whichever is lower, calculated and accrued
annum of the daily.
NAV of the
Fund,
whichever is
lower,
calculated
and accrued
daily.
These include the annual management fee, the annual Trustee’s fee, the auditors’
remuneration and other relevant professional fees, costs, charges and expenses in the
printing and distribution of annual reports and notices, as well as expenses which are directly
related to and necessary for the business of the respective Fund as set out in the Deed of the
Fund, will be paid out of the Fund. Statutory payments such as stamp duties and taxes
imposed by the authority will also be paid by the Fund
20 www.asnb.com.my
FEES & CHARGES – FIXED PRICE (ASB, ASW 2020, ASM, ASD AND
AS 1MALAYSIA)
This table describes the charges that you may DIRECTLY incur when you buy or redeem units of the
Funds.
Charges
Sales
Charge
ASB
Nil
ASW 2020
Nil
ASM
Nil
ASD
Nil
AS 1Malaysia
Up to 1.0% of the invested
amount.
However,
the
Manager has the discretion
either to waive or to reduce the
sales charge.
Redemption
Charge
Switching
Fee
Transfer
Fee
Nil
Nil
Nil
Nil
Nil
Nil
Not
Applicable
Not
Applicable
Not
Applicable
Not
Applicable
Not
Applicable
Not
Applicable
Not Applicable
Not
Applicable
Not Applicable
This table describes the fees that you may INDIRECTLY incur when you invest in the Funds.
Fees
Annual
Management Fee
ASB
ASW 2020 ASM
Up to a maximum of 1.0% per annum of
the VOF calculated and accrued daily,
as may be agreed between the Trustee
and Manager.
Annual Trustee's
Fee
RM500,000
Fund Expenses
These include the annual management fee, the annual Trustee’s fee, the auditors’
remuneration and other relevant professional fees, costs, charges and expenses in the
printing and distribution of annual reports and notices, as well as expenses which are
directly related to and necessary for the business of the respective Funds as set out in
the Deeds of the respective Funds, will be paid out of the respective Funds. Statutory
payments such as stamp duties and taxes imposed by the authority will also be paid by
the Fund.
RM500,000
ASD
AS 1Malaysia
Up to a maximum of 1.5% per annum of the
VOF, calculated and accrued daily, as may
be agreed between the Trustee and
Manager.
RM300,000 or 0.08% per
annum
of
the
VOF,
whichever is lower.
Up to 0.08% per annum of
the VOF, subject to minimum
of RM18,000 per annum.
For details on Fees, Charges and Expenses of the Funds, you may refer to Chapter 8: Fees,
Charges and Expenses commencing on page 73.
There are fees and charges involved and investors are advised to consider them before
investing in the Funds. Unit prices and distributions payable, if any, may go down as well as
up. Past performance of the Fund is not an indication of its future performance.
For information concerning certain risk factors which should be considered by prospective investors,
see “RISK FACTORS” commencing on page 26.
21 www.asnb.com.my
Table 1: Investment/Subscription of Units
Funds
Minimum
Initial
Investment2
Investment
Book
Minimum Additional Investment
Investment
Book
Certificate3
EPF
Members’
Investment
Scheme4
Maximum Investment
Not applicable
Unlimited, subject to availability
of units of the Fund.
RM1,000
RM1,000
Variable Price
ASN
10 units
1 unit
ASN 2
ASN 3
100 units
100 units
100 units
1 unit
Multiples of
1,000 units
Not applicable
Not applicable
ASG- PENDIDIKAN
100 units
1 unit
Not applicable
RM1,000
ASG- KESIHATAN
ASG- PERSARAAN
100 units
100 units
1 unit
1 unit
Not applicable
Not applicable
RM1,000
RM1,000
Fixed Price
ASB
10 units
1 unit
Multiples of
1,000 units
Not applicable
Unlimited,
subject
to
the
cumulative maximum size of 1.0
billion units and availability of
units.
Akaun Dewasa
200,000 units. The maximum
investment may exceed 200,000
units due to reinvestment of
distribution of income, if any.
Akaun Remaja6
ASW 2020
100 units
1 unit
ASM
100 units
1 unit
ASD
100 units
1 unit
AS 1Malaysia
100 units
1 unit
Not
applicable5
Not
applicable
Not
applicable
Not
applicable
RM1,000
50,000 units. The maximum
investment may exceed 50,000
units due to reinvestment of
distribution of income, if any.
Unlimited, subject to availability
of units of the Fund.
Not applicable
RM1,000
RM1,000
Note:
2. All investors are required to invest the stipulated Minimum Initial Investment in the Investment Book prior to investing
through certificate. However, the Unit holders are exempted from the requirement of Minimum Initial Investment for
investing through EPF Members’ Investment Schemes.
3. The certificate issued to Unit holders would be a physical certificate or such other form as agreed by the Manager and
Trustee from time to time.
4. Investment in ASW 2020, ASN 2, ASD, ASN 3, ASG-Pendidikan, ASG-Kesihatan, ASG-Persaraan and AS 1Malaysia
through the EPF Members’ Investment Scheme will be reflected in a statement, subject to the rules and regulations of
the EPF and the availability of units of the Funds.
5. No physical certificates will be issued in respect of purchases of ASW 2020 units with effect from 30 June 2010.
Certificates issued before this date are still valid. From 30 June 2010 all dealings in ASW 2020 units will be evidenced in
an investment book to be issued to each Unit holder.
6. In case of ASB, a holder of Akaun Remaja is not allowed to request the Manager to redeem units unless the holder of
Akaun Remaja has attained the age of twelve (12) years and the request to redeem shall not be in respect of more than
two hundred (200) Akaun Remaja units in any one (1) week (or such other number of Akaun Remaja units over such
period as may be fixed by the Manager from time to time and subject to terms and conditions as may be imposed by the
Manager). The Akaun Remaja units will be automatically converted into Akaun Dewasa once the holder of Akaun
Remaja attained the age of majority.
22 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Investors are advised not to make payment in cash when purchasing units of the Funds via any
institutional/ retail agent.
Table 2: Redemption Amount
Funds
Investment
Book
Certificate7
EPF Members’
Investment
Scheme
Minimum Balance
Requirement
The following
minimum number of
units are to be
maintained. Otherwise
you are advised to
request for total
redemption8
ASN
1 unit
1,000 units
Not applicable
10 units
ASN 2
100 units
Not
applicable
100 units
ASN 3
1 unit
Amount invested
plus free units,
income
distribution and
capital
appreciation, if
any.
ASGPENDIDIKAN
ASGKESIHATAN
ASGPERSARAAN
1 unit
Minimum Redemption
Maximum Redemption
Investment
Book
Certificate
Unlimited,
but subject
to minimum
balance
requirement
.
1,000 units
Unlimited,
but in
multiples of
the following
amount
Variable Price
100 units
Not applicable
Amount invested
on each
application plus
free units, income
distribution and
capital
appreciation, if
any.
1 unit
1 unit
Fixed Price
ASB
1 unit
1,000 units
Not applicable
10 units
ASW 2020
1 unit
Not
applicable9
Amount invested
on each
application plus
free units, income
distribution and
capital
appreciation, if
any.
Not applicable
100 units
ASM
1 unit
ASD
1 unit
AS 1Malaysia
1 unit
Not
applicable
Amount invested
on each
application plus
free units, income
distribution and
capital
appreciation, if
any.
100 units
100 units
Unlimited,
but subject
to minimum
balance
requirement
.
For Akaun
Remaja
ASB subject
to terms
and
conditions
of ASNB.10
1,000 units
1,000 units9
Not applicable
100 units
Note:
7. The certificate issued to Unit holders would be a physical certificate or such other form as agreed by the Manager and
Trustee from time to time.
8. Premised on the Deed we are allowed to close your account, at our discretion, should the balance in your account fall
below the minimum balance requirement.
9. No physical certificates will be issued in respect of purchases of ASW 2020 units with effect from 30 June 2010.
Certificates issued before this date are still valid. From 30 June 2010, all dealings in ASW 2020 units will be evidenced
in an investment book to be issued to each unit holder.
10. In case of ASB, a holder of Akaun Remaja is not allowed to request the Manager to redeem units unless the holder of
Akaun Remaja has attained the age of twelve (12) years and the request to redeem shall not be in respect of more than
23 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 two hundred (200) Akaun Remaja units in any one (1) week (or such other number of Akaun Remaja units over such
period as may be fixed by the Manager from time to time and subject to the terms and conditions as may be imposed by
the Manager). The Akaun Remaja units will be automatically converted into Akaun Dewasa once the holder of Akaun
Remaja attained the age of majority.
Table 3: Frequency and Payment of Redemption
Funds
Frequency of Redemption
Payment of Redemption Money
ASN
Unlimited.
On-the-spot. However, payment of large
amount may be subjected to normal cheque
issuance and / or bank transfer procedure.
ASN 2 and ASN 3
Unlimited.
ASG- PENDIDIKAN
Unlimited, however you are advised to consider
redeeming only when you need the money to
pay tuition fees or college expenses for
yourselves or your children or charges under
your guardianship.
Redemption amount for EPF Members’
Investment Scheme, is payable to EPF only.
ASG- KESIHATAN
redeeming only when you need to pay for
hospital bills or to cover your medical insurance
premium, or those of your children or charges.
ASG- PERSARAAN
redeeming
only
when
you
or
your
children/charges reach retirement age.
ASB and ASM
Unlimited.
ASW 2020, ASD and
AS 1Malaysia
Unlimited.
Redemption amount for EPF Members’
Investment Scheme, is payable to EPF only.
ASNB provides on-the-spot transaction at ASNB offices and appointed agents.
Table 4: Salary Deduction Scheme, Standing Instruction, Switching Between Funds, EPF Members’ Investment Scheme,
Distribution Re-Investment Option, Hibah Amanah and Pengisytiharan Amanah11
Funds
Salary
Deduction
Scheme
ASN
ASN 2
ASN 3
ASGPENDIDIKAN
ASGKESIHATAN
12
Not
Applicable
Not
Applicable
Not
Applicable
Not
Applicable
Not
Applicable
Standing
13
Instruction
Switching
Between
14
EPF Members’
Investment
15
Distribution
Re-Investment
Option
16
Hibah Amanah
and
Pengisytiharan
17
Amanah
Funds
Scheme
Allowed
Allowed
Not Applicable
Allowed
Allowed
Allowed
Not Applicable
Allowed
Allowed
Allowed
Allowed
Not Applicable
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
24 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Funds
Salary
Deduction
Scheme
ASGPERSARAAN
ASB
ASW 2020
ASM
ASD
AS 1Malaysia
12
Not
Applicable
Allowed
Allowed
Not
Applicable
Allowed
Allowed
Standing
13
Instruction
Switching
Between
14
EPF Members’
Investment
15
Distribution
Re-Investment
Option
16
Hibah Amanah
and
Pengisytiharan
17
Amanah
Funds
Scheme
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Not Applicable
Not Applicable
Not Applicable
Allowed
Not Applicable
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Not Applicable
Not Applicable
Allowed
Allowed
Allowed
Allowed
Allowed
Allowed
Note:
11. Subject to availability of the units of the Fund.
12.
You may invest through monthly Salary Deduction Scheme, provided your employer has registered with us for this facility. The salary deduction
facility is subject to our terms and conditions. Presently, we do not impose any charge on this facility subject to availability of the units of the
Fund.
13.
Investment through standing instruction shall be subject to rules and regulations of the banks that have been appointed as our agents subject to
availability of the units of the Fund.
14.
Switching can be made among the three Funds under ASG, namely ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan, and between ASN
and ASB.
Switching is a facility provided to you whereby you can redeem your investment in ASN and re-invest in ASB, or vice versa, by filling in the
appropriate form. This eliminates the normal process of redemption and re-investment since only one form is involved. There is no limit to the
frequency of switching between ASN and ASB. However, switching from ASB to ASN is subject to the sales charge, at the discretion of the
Manager.
If you have subscribed in any of the Funds under ASG, you may switch between these Funds by filling in the appropriate form. The switching
facility in ASG is limited to 4 times in any financial year.
15.
Subject to rules and regulations of the EPF Members’ Investment Scheme. All Unit holders are exempted from the requirement of Minimum Initial
Investment for investing through the EPF Members’ Investment Scheme.
16.
Dividend Re-investment option for Investment Book:
Re-invested as additional units in your account, at NAV per unit or at RM1.00 a unit (whichever relevant), subject to availability of the units of the
Fund.
Dividend Reinvestment option for EPF Members’ Investment Scheme:
Re-invested as additional units, at NAV per unit or at RM1.00 a unit (whichever relevant), to the EPF investment, subject to availability of the
units of the Fund. If the units of the Fund are fully subscribed, the distribution amount will be paid to the EPF and to be credited into Account 1 of
your EPF Members’ account.
17.
Hibah Amanah and Pengisytiharan Amanah:
Unit holders may subscribe to the facilities subject to eligibility criteria as well as terms and conditions as stipulated in the deeds of the Hibah
Amanah and Pengisytiharan Amanah.
For details on these additional facilities, you may refer to Section 9.7.8: Additional Information
For details on transaction information of the Funds, you may refer to Chapter 9: Transaction Information.
Investors are advised not to make payment in cash when purchasing units of the Funds via any institutional/ retail
agent.
25 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 4. RISK FACTORS Any investment carries with it an element of risk. Therefore, prior to making an investment, prospective INVESTORS should
consider the following risk factors in addition to the other information set out in this Prospectus.
4.1
GENERAL RISKS OF INVESTING IN UNIT TRUST FUND
4.1.1
Fund Management Risk
The selection of securities which make up the assets of the Funds is a subjective process. Securities
selected by the investment manager may perform better or worse than the overall stock market, or as
compared to portfolios selected by their competitors.
This risk can be managed through an active and frequent trading strategy by professional and experienced
fund manager.
4.1.2.
Liquidity Risk
Liquidity risk refers to the Fund’s ability to convert an investment into cash without incurring an overly
significant loss in value. If a security encounters a liquidity crunch, the security may need to be sold at a
discount to the fair market value of the security. This in turn may affect the performance of the Funds or
the ability of the Fund to honour requests for redemption by Unit holders.
The risk can be minimised by actively managing asset allocation of the Fund and maintaining sufficient
level of liquid assets to meet anticipated payments and cancellation of units by Unit holders.
4.1.3.
Inflation/Purchasing Power Risk
A unit trust fund is subject to the risk of an investor’s investment not growing proportionately to the inflation
rate thus decreasing the investor’s purchasing power even though the investment in monetary terms has
increased. The risk can be minimised by investing in securities that can provide a real rate of return that
equals or exceed the inflation rate.
4.1.4.
Loan Financing Risk
The risk occurs when you take a loan provided by a financial institution to finance your purchase of units.
Investing in a Fund using borrowed money is more risky than investing using your own money. The
inherent risk of investing with borrowed money includes the ability to service loan repayments and the
effect of increases in interest rates and your ability to provide additional collateral.
The Unit Trust Loan Financing Risk Disclosure Statement Form attached (please refer to page 148) sets
out the risks in detail.
4.1.5.
Non-Compliance Risk
The operations and administration of the Funds by the Manager are governed by the Deed, all applicable
laws and regulations. Non-adherence may potentially affect the performance of Fund. The risk could be
minimised by imposing stringent internal controls and ensuring that compliance monitoring are undertaken
through regular audit and cross-departmental checking. The risk is mitigated further with the presence of
the Trustee who is appointed to oversee the functions of the management of the Funds.
26 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 4.1.6.
Operational Risk
The risk of loss to you arising from inadequacies in, or failures of, our internal procedures and
controls for monitoring and quantifying the risks and contractual obligations associated with
investments in a Fund. Although the occurrence of such events is very unlikely, the Manager seeks
to mitigate the risk through the establishment of systematic operational procedures and stringent
internal controls.
4.1.7
Force majeure risk
It is the risk that there will be an event beyond the control of the Manager, which prevents the
Manager from complying with any of its obligations under this Prospectus, including but not limited
to:(a) acts of God (such as, but not limited to, fires, explosions, earthworks, drought, tidal waves and
floods);
(b) war, hostilities (whether war be declared or not), invasion, act of foreign enemies, mobilization,
requisition, embargo, rebellion, revolution, insurrection or military or usurped power or civil war;
(c) contamination by radio-activity from any nuclear fuel, or from any nuclear waste from the
combustion of nuclear fuel, radio-active toxic explosive, or other hazardous properties of any
explosive nuclear assembly or nuclear component of such assembly;
(d) riot, commotion, strikes, go slows, lock outs or disorder, unless restricted to employees of the
Manager;
(e) acts or threats of terrorism; and
(f) any other emergency circumstances that materially and adversely prevent the Manager from
operating normally.
Management will undertake appropriate actions in ensuring continuity of day to day ongoing
business operations in the event of the above mentioned risk.
4.2
SPECIFIC INVESTMENT RISKS
4.2.1.
Capital Market Risk
The performance of unit trust funds is subject to fluctuations in the capital market, which includes
the stock market and other securities market which may affect the value of investments positively
or negatively. The capital market is influenced by certain factors such as changes in the economic
climate, movement in interest rates, changes in the political and social environment and the
performance of overseas capital markets.
The risk is managed through constant monitoring of the asset allocation and to undertake prompt
response of any adverse condition to ensure minimum impact. The Funds also will be constructed
in a manner that the portfolio is well diversified across securities, asset classes and market sectors.
4.2.2.
Stock Specific Risk
Stock specific risk is the portion of risk which is unique to the issuer of the securities. Typically,
specific risk can be associated with management errors, shifts in consumer taste, advertising
campaigns, lawsuits and competitive industry conditions that may cause the NAV or prices of units
to be volatile as well. Therefore, the income produced by the Fund particularly income from sale of
investments may also fluctuate. This risk can be managed by the very nature of the Fund that
invest in a well diversified portfolio of securities across asset classes and market sectors so that the
volatility of the NAV could be minimised. It also can be mitigated through having sound and
disciplined valuation methodologies, sufficient margin of safety and adequate diversification.
27 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 4.2.3.
Credit/Default Risk
Credit/default risk refers to the possibility that the issuer of a fixed income security or bond may not
be able to make interest payments or repay the principal in a timely manner. This will translate to
losses that will reduce the value of a Fund.
The credit/default risk is managed by ensuring the Funds will only invest in fixed income
instruments which are considered safe for timely payment of financial obligations and have good
credit ratings.
4.2.4
Currency Risk (if applicable)
Currency risk or foreign exchange risk is a risk associated investments that are in foreign
currencies denomination. When foreign currencies fluctuate in an unfavourable movement against
the RM, the investment may face currency loss in addition to the capital gains/losses. This may in
turn affect the performance of the Funds. The risks could be minimised by diversifying the
investments across differing currencies or by hedging the currencies when it is deemed necessary.
4.2.5
Liquidity Risk
Liquidity risk refers to the Fund’s ability to convert an investment into cash without incurring an
overly significant loss in value. If a security encounters a liquidity crunch, the security may need to
be sold at a discount to the fair market value of the security. This in turn may affect the
performance of the Funds or the ability of the Fund to honour requests for redemption by Unit
holders.
The risk can be minimised by actively managing asset allocation of the Fund and maintaining
sufficient level of liquid assets to meet anticipated payments and cancellation of units by Unit
holders.
4.2.6
Interest Rate Risk
Interest rate risk arises due to changes in interest rates which affect the fair value of fixed income
instruments.
Interest rate risk is managed by conducting regular reviews of interest rates and market
expectation.
Please refer to the specific Fund for details of principal risks on investing in each Fund in Sections 3.1 to 3.9.
These risks are being reported to the Risk Management Committee on a regular basis.
28 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 5. INFORMATION ON THE FUNDS 5.1.
GENERAL INFORMATION ON THE FUNDS’ OBJECTIVE AND STRATEGY
18
Funds
Investment Objective
Asset Allocation Strategy
ASN
To generate a reasonable level of distribution
income and capital appreciation to the Unit
holders through a diversified portfolio of
investments.
The Fund will invest up to 90% of its NAV in
equities, while maintaining at least 10% in
other capital market instruments, inclusive of
liquid assets.
ASN 2
To provide Unit holders with a reasonable
dividend yield as well as capital appreciation
at an acceptable level of risk through
investments made in accordance with the
Deed, the Guidelines and securities law in a
diversified portfolio of securities, principally in
Malaysian equity securities.
liquid assets.
ASN 3
To generate capital growth over the medium
to long-term period by investing in a
balanced portfolio of investments and
through re-investment of distribution, if any.
equities while maintaining at least 25% in
liquid assets.
ASGPENDIDIKAN
To provide investment opportunity which
generates reasonable long-term growth and
returns to meet part or all of the periodic
liquidity requirements of the Unit holders and
enable them to fulfil the financial planning
needs for education of the Unit holders
and/or their children and/or charges.
The Fund will invest between 20% and 70%
of its NAV in fixed income securities and
cash equivalent, and the remainder in
equities and other capital market instruments.
ASGKESIHATAN
returns to fulfil part or all of the immediate
liquidity requirements to enable the Unit
holders and/or their children and/or charges
to continuously meet their ongoing medical
requirements in the long-term.
liquid assets.
ASGPERSARAAN
returns, and a reliable income stream to
enable the Unit holders and/or their children
and/or charges to meet part or all of their
retirement needs.
The Fund will invest between 20% and 80%
of its NAV in fixed income securities and
cash equivalent, and the remainder in
equities and other capital market instruments.
ASB
To generate long-term, consistent and
competitive returns to the Unit holders whilst
ensuring the preservation of capital at
The Fund seeks to achieve its objective by
investing up to 95% of its VOF in equities,
while maintaining at least 5% in other capital
29 www.asnb.com.my
Investment Objective
18
Asset Allocation Strategy
minimal risk tolerance level.
market instruments, inclusive of liquid assets.
The investment strategy will also be designed
to preserve the capital of the Fund in the
long-term period while at the same time to
seek potential income from its investment.
ASW 2020
To provide reasonable level of regular
distribution income to Unit holders from
investments in a selected portfolio of
authorised investments.
ASM
To provide Unit holders with a long-term
investment opportunity that generates regular
and competitive returns through a diversified
portfolio of investments.
ASD
To provide investment opportunity that
return.
AS 1Malaysia
To provide regular and consistent income
stream whilst preserving the Unit holders’
investment capital over a long term horizon
through a diversified portfolio of investment.
while maintaining at least 10% in other
capital market instruments, inclusive of liquid
assets.The investment strategy will also be
designed to preserve the capital of the Fund
in the long-term period while at the same
time to seek potential income from its
investment.
Note:
18. Any material change to the investment objectives of the Funds would require Unit holders’ approval.
30 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 5.2.
GENERAL INFORMATION ON THE BENCHMARK
Funds
Benchmark
ASB, ASW 2020, ASM, ASD
and AS 1Malaysia
The performance of these Funds is benchmarked against the performance of
other instruments that have similar features with that of the Funds. Being a fixed
price Funds, the return to Unit holders of the Funds will mainly be in the form of
the Fund’s income distribution yield.
For ASB, ASW 2020, ASM and ASD, the return will be benchmarked against the
3-month KLIBOR which is obtainable at any commercial bank.
For AS 1Malaysia the return will be benchmarked against the average of the
5-year MGS yield which can be obtained at Bank Negara Malaysia website and
Bloomberg.
ASN, ASN2, ASN3,
ASG-Pendidikan,
ASG-Kesihatan and
ASG-Persaraan
The performance of these Funds is expressed in terms of the respective Fund’s
Total Returns, benchmarked against a pre-determined customised benchmark,
which is a composition of FBM 100 or any equivalent Bursa Malaysia indices and
the 3-month KLIBOR. Both benchmarks are obtainable at Bursa Malaysia and
commercial banks respectively.
Funds
Customised Benchmark
FBM 100 (%)
3-month KLIBOR (%)
ASN
80
20
ASN2
80
20
ASN3
50
50
ASG-Pendidikan
60
40
ASG-Kesihatan
70
30
ASG-Persaraan
40
60
31 www.asnb.com.my
ASN
INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of ASN is to invest in a diversified portfolio of listed securities, primarily on the Bursa Malaysia,
unlisted securities, fixed income and money market instruments as well as other capital market instruments such as
structured products and derivatives. The Fund may also invest in fixed income securities carrying at least “BBB”
rating by RAM Ratings, or any equivalent rating agency. The types of structured products that the Fund may invest
include structured products with exposure linked to one or more assets such as equities, interest rates indices or any
other underlying assets. For derivatives, the Fund may invest in warrants, options and any other derivatives as
approved by the Deed. The Fund may adopt a defensive strategy depending on changes in economic and stock
market conditions.
The Fund’s strategy is to diversify among asset classes between equity and other instruments depending on the
country’s economic situation, stock market conditions and interest rate movements. The Fund also stresses on
diversifying its equity portfolio through sectoral allocation. The strategy is to minimize the volatility of the portfolio and
generate competitive returns in the long term.
•
Asset Allocation
The Fund will invest up to 90% of its NAV in equities, while maintaining at least 10% in other capital market
instruments, inclusive of liquid assets.
•
Permitted Investments
The Fund is allowed to invest in securities of companies listed on the Bursa Malaysia or on any Eligible Market,
or which has obtained approval for listing from relevant authorities, unlisted equities, units of unit trust funds or
collective investment schemes, Government securities, private debt securities, and/or deposits at call with any
financial institution. The Fund may also invest in banker’s acceptances, negotiable certificate of deposits or any
other kind of investment as prescribed under the definition of Permitted Investments in the Deed.
•
Sectors/stock selection
•
Sectors are selected by adopting a top-down approach in sectors with growth potential and high returns,
whilst a bottom-up approach is applied for selection of investment.
•
Stock selection for listed and unlisted securities will be based on fundamental analysis of the companies,
which include among others the financial strength, management capability, prospects of the industry as well
as its business cycle.
•
The selection for fixed income securities is based on the interest rate outlook, potential returns, tenor and
yields at reasonable level of risks.
•
The Fund may invest in structured products; selection of structured products will only be made after a
thorough analysis has been conducted using prevailing analytical tools. The Fund will place particular
emphasis on diversity in terms of strategy of the underlying assets for each structured product.
•
Temporary Defensive Position
The Fund may take temporary defensive positions such as reducing exposure in respective permitted
investments and increasing the exposure in cash in response to adverse economic and any other market
conditions such as changes in interest rate policy.
32 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 RISK MANAGEMENT STRATEGIES
The Fund’s risks are actively managed through the diversification of the portfolio in terms of asset allocation and
sectoral allocation. The risks are minimised through the exposure limit on the sectoral and securities weightings
depending on the economic and stock market conditions. The Fund adopts an active trading strategy through
portfolio rebalancing depending on the expected risk and return on securities invested and changes in the market.
ASN INVESTMENT RESTRICTIONS AND LIMITS
Investment Exposure/Spread
Limits
1.
Investments in unlisted securities.
40% of NAV.
2.
Investments in ordinary shares issued by any single issuer.
40% of NAV.
3.
Investments in transferable securities and money market instruments issued by
any single issuer.
40% of NAV.
4.
Placement in deposits with any single institution.
20% of NAV.
5.
Over-the-counter (OTC) derivative transaction with any single counter-party.
10% of NAV.
6.
Investments in structured products issued by a single counter-party.
15% of NAV.
7.
Aggregate investments in transferable securities, money market instruments,
deposits, OTC derivatives and structured products issued by or placed with any
single issuer/ institution.
25% of NAV.
8.
Investments in units/shares of any collective investment scheme.
20% of NAV.
9.
any group of companies.
40% of NAV.
10.
Cash borrowings.
33.3% of NAV.
Investment Concentration
Limits
11.
Investments in transferable securities (other than debentures).
40% of securities issued.
12.
Investments in debentures.
13.
Investments in money market instruments.
40% of instruments issued.
14.
Investments in collective investment schemes.
40% of units/shares issued.
33 www.asnb.com.my
ASN 2
The investment policy of ASN 2 is to invest in a diversified portfolio of listed securities, primarily on the Bursa
Malaysia, unlisted securities, fixed income and money market instruments as well as other capital market instruments
such as structured products and derivatives. The Fund may also invest in fixed income securities carrying at least
“BBB” rating by RAM Ratings, or any equivalent rating agency. The types of structured products that the Fund may
invest include the structured product with exposure linked to one or more assets such as equities, interest rates
indices or any other underlying assets. For derivatives, the Fund may invest in warrants, options and any other
derivatives as approved by the Deed. The Fund may adopt a defensive strategy depending on changes in economic
and stock market conditions.
•
Asset Allocation
•
•
•
Sectors are selected by adopting a top-down approach in sectors with growth potential and high returns,
•
•
•
•
34 www.asnb.com.my
ASN 2 INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
10% of NAV.
2.
10% of NAV.
3.
any single issuer.
15% of NAV.
4.
20% of NAV.
5.
10% of NAV.
6.
15% of NAV.
7.
25% of NAV.
8.
20% of NAV.
9.
Cash borrowings.
20% of NAV.
10.
10% of NAV.
Limits
11.
12.
13.
14.
35 www.asnb.com.my
ASN 3
The investment policy of ASN 3 is to invest in a diversified portfolio of listed securities, primarily on the Bursa
•
Asset Allocation
The Fund will invest up to 75% of its NAV in equities while maintaining at least 25% in other capital market
•
•
•
Sectors are selected by adopting a top-down approach in sectors with growth potential and higher returns,
•
•
•
•
36 www.asnb.com.my
ASN 3 INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
40% of NAV.
2.
40% of NAV.
3.
any single issuer.
40% of NAV.
4.
20% of NAV.
5.
10% of NAV.
6.
15% of NAV.
7.
25% of NAV.
8.
20% of NAV.
9.
40% of NAV.
10.
Cash borrowings.
33.3% of NAV.
Limits
11.
12.
13.
14.
37 www.asnb.com.my
THE THREE FUNDS UNDER THE UMBRELLA OF ASG
(ASG – Pendidikan, ASG – Kesihatan, ASG – Persaraan)
The investment policy of ASG is to invest in a diversified portfolio of listed securities, primarily on the Bursa Malaysia,
structured products and derivatives. The Fund may also invest in fixed income securities carrying at least “A” rating
by RAM Ratings, or any equivalent rating agency. The types of structured products that the Fund may invest include
the structured product with exposure linked to one or more assets such as equities, interest rates indices or any other
underlying assets. For derivatives, the Fund may invest in warrants, options and any other derivatives as approved by
the Deed. The Fund may adopt a defensive strategy depending on changes in economic and stock market
conditions.
•
Asset Allocation
ASG-Pendidikan
The Fund will invest between 20% and 70% of its NAV in fixed income securities and cash equivalent, and the
remainder in equities and other capital market instruments.
ASG-Kesihatan
ASG-Persaraan
The Fund will invest between 20% and 80% of its NAV in fixed income securities and cash equivalent, and the
remainder in equities and other capital market instruments.
•
•
•
•
•
•
•
38 www.asnb.com.my
ASG INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
10% of NAV.
2.
10% of NAV.
3.
any single issuer.
15% of NAV.
4.
20% of NAV.
5.
10% of NAV.
6.
15% of NAV.
7.
single issuer/ institution
25% of NAV.
Cash borrowings.
20% of NAV.
8.
9.
10.
20% of NAV.
10% of NAV.
Investment Concentration – Collectively
Limits
11.
12.
13.
14.
39 www.asnb.com.my
ASB INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of ASB is to invest in a diversified portfolio of listed securities, primarily on the Bursa Malaysia,
include structured products with exposure linked to one or more assets such as equities, interest rates indices or any
other underlying assets. For derivatives, the Fund may invest in warrants, options and any other derivatives as
market conditions.
diversifying its equity portfolio through sectoral allocation. The strategy is to preserve the value of the capital and
•
Asset Allocation
The Fund seeks to achieve its objective by investing up to 95% of its VOF in equities, while maintaining at least
5% in other capital market instruments, inclusive of liquid assets. The investment strategy will also be designed
to preserve the capital of the Fund in the long-term period while at the same time to seek potential income from
its investment.
•
•
•
•
•
•
•
40 www.asnb.com.my
ASB INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
20% of VOF.
2.
30% of VOF.
3.
any single issuer.
40% of VOF.
4.
20% of VOF.
5.
10% of VOF.
6.
15% of VOF.
7.
single issuer/institution.
40% of VOF.
8.
20% of VOF.
9.
40% of VOF.
10.
Cash borrowings.
10% of VOF.
Limits
11.
12.
13.
14.
41 www.asnb.com.my
ASW 2020 INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of ASW 2020 is to invest in a diversified portfolio of listed securities, primarily on the Bursa
•
Asset Allocation
its investment.
•
•
•
•
•
•
•
42 www.asnb.com.my
ASW 2020 INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
10% of VOF.
2.
30% of VOF.
3.
any single issuer.
35% of VOF.
4.
20% of VOF.
5.
10% of VOF.
6.
15% of VOF.
7.
35% of VOF.
8.
20% of VOF.
9.
40% of VOF.
10.
Cash borrowings.
10% of VOF.
Limits
11.
12.
13.
14.
43 www.asnb.com.my
ASM INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of ASM is to invest in a diversified portfolio of listed securities, primarily on the Bursa Malaysia,
include the structured product with exposure linked to one or more assets such as equities, interest rates indices or
any other underlying assets. For derivatives, the Fund may invest in warrants, options and any other derivatives as
market conditions.
•
Asset Allocation
its investment.
•
•
•
•
•
•
•
44 www.asnb.com.my
ASM INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
20% of VOF.
2.
30% of VOF.
3.
any single issuer.
40% of VOF.
4.
20% of VOF.
5.
10% of VOF.
6.
15% of VOF.
7.
single issuer/institution
40% of VOF.
9.
40% of VOF.
10.
Cash borrowings.
33.3% of VOF.
8.
20% of VOF.
Limits
11.
12.
13.
14.
45 www.asnb.com.my
ASD INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of ASD is to invest in a diversified portfolio of listed securities, primarily on the Bursa Malaysia,
include the structured product with exposure linked to one or more assets such as equities, interest rates indices or
any other underlying assets. For derivatives, the Fund may invest in warrants, options and any other derivatives as
market conditions.
•
Asset Allocation
its investment.
•
•
•
•
•
•
•
46 www.asnb.com.my
ASD INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
20% of VOF.
2.
30% of VOF.
3.
any single issuer.
40% of VOF.
4.
20% of VOF.
5.
10% of VOF.
6.
15% of VOF.
7.
40% of VOF.
8.
20% of VOF.
9.
40% of VOF.
10.
Cash borrowings.
33.3% of VOF.
Limits
11.
12.
13.
14.
47 www.asnb.com.my
AS 1MALAYSIA INVESTMENT POLICIES AND PRINCIPAL INVESTMENT STRATEGIES
The investment policy of AS 1Malaysia is to invest in a diversified portfolio of listed securities, on the Bursa Malaysia
or on recognised overseas stock exchange, unlisted securities, fixed income and money market instruments as well
as other capital market instruments in Malaysia, and in any recognised market as approved in the Deed of
AS 1Malaysia. The Fund may also invest in fixed income securities carrying at least “BBB” rating by RAM or MARC
for domestic issues, or by international rating agencies such as Moody or Standard & Poors for international issues.
To achieve the Fund’s objective of providing regular and consistent return, whilst outperforming the 5-year MGS
return, the Fund will diversify its investments among asset classes between equities, fixed income and other financial
instruments depending on the country’s economic situation, stock market conditions, interest rate movements and
other relevant fundamental factors. The Fund stresses on diversifying its portfolio through asset allocation in equities,
money market and fixed income securities. The strategy is to preserve the value of the capital and generate
competitive returns in the long-term.
•
Asset Allocation
its investment.
•
•
•
The investment in equities may include primarily blue chip stocks as well as high yielding and value shares
which could generate more regular income stream and maintaining the volatility of portfolio at reasonably
low level.
•
The Fund may also diversify its portfolio into international markets as permitted under the Guidelines and by
its Deed to mitigate its risk level as well as to generate enhanced return to the Fund.
•
Country allocation is done via top-down approach based on economic factors such as economic growth,
interest rates, currency, as well as other fundamental factors such as market valuation, earnings growth
potential and expected returns from the country.
•
Sectors are selected by adopting a top-down approach in sectors with growth potential and higher returns.
•
The Fund adopts a bottom-up approach in stock selection. Stock selection for listed and unlisted securities
will be based on fundamental analysis of the companies, which include among others the financial strength,
management capability, prospects of the industry as well as its business cycle.
•
The selection for fixed income securities is based on the interest rate outlook, potential returns, investment
ratings, tenor and yields at reasonable level of risk.
•
The Fund may invest in structured products where selection of structured products will only be made after a
thorough analysis has been conducted based on prevailing analytical tools. The Fund will place particular
•
48 www.asnb.com.my
The Fund’s risks are actively managed through diversification of the portfolio in terms of asset allocation, country
allocation and sectoral allocation. The risks are minimised through the exposure limit in equity as well as on the
sectoral and company weightings depending on the economic and stock market conditions. The Fund adopts an
active trading strategy through portfolio rebalancing depending on the expected risk and return on securities invested
and changes in the market.
AS 1MALAYSIA INVESTMENT RESTRICTIONS AND LIMITS
Limits
1.
20% of VOF.
2.
30% of VOF.
3.
any single issuer.
40% of VOF.
4.
20% of VOF.
5.
10% of VOF.
6.
15% of VOF.
7.
40% of VOF.
8.
20% of VOF.
9.
40% of VOF.
10. Cash borrowings.
10% of VOF.
Limits
11. Investments in transferable securities (other than debentures).
12. Investments in debentures.
13. Investments in money market instruments.
14. Investments in collective investment schemes.
49 www.asnb.com.my
BASES OF VALUATION FOR INVESTMENTS Valuation bases for all types of assets invested or to be invested by the Fund, including treatment for suspended
counters.
5.12.1
Bases of Valuation on Investments for ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and
ASG-Persaraan
Types
Valuation
Quoted Investments and Fixed Income
Securities
Valuation is conducted at mid-day (where applicable) and the end
of each Business Day based on the last done market price
primarily listed on the Bursa Malaysia or any Eligible Market
approved by the relevant authorities.
Suspended securities will be valued at their last done price unless
there is conclusive evidence to show that the value has gone
below the suspended price, then the securities should be value at
fair value as determined in good faith by the Manager based on the
methods or bases approved by the Trustee after appropriate
technical consultation.
Unquoted Fixed Income and Debt Securities
If no market price is available or valuation based on market price
does not represent the fair value of investments, for example
during abnormal market conditions the securities will be valued
based on methods deemed to be fair and reasonable as agreed
upon by the Manager and trustee after appropriate technical
consultation.
Unlisted bonds denominated in Ringgit Malaysia are stated at the
indicative market value quoted by a bond pricing agency (BPA)
registered with the SC. Where the Manager is of the view that the
price quoted by BPA for a specific bond differs from the “market
price” by more than 20 basis points, the manager may use the
“market price”, provided that the Manager :(i)
records its basis for using a non-BPA price;
(ii) obtains necessary internal approvals to use the non-BPA
price; and
(iii) keeps an audit trail of all decisions and basis for adopting
the “market yield”
Unlisted Collective Investment Scheme
Other Unquoted Investments
Money Market Instruments
Deposits with Financial Institutions
Other unlisted bonds, the fair value by reference to the average
indicative yield quoted by three independent and reputable
institutions. Valuation is based on the last published repurchase price.
Valuation is based on methods deemed fair and reasonable,
determined by the Manager, verified by the Auditors and approved
by the Trustee.
Valuation of tradeable money market instruments shall be
determined each day by reference to the principal value of such
authorised investments and the accrued income for the relevant
period.
The value of any deposits placed with financial institutions such as
fixed deposits shall be determined each day by reference to the
accrued income thereon for the relevant period.
50 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 5.12.2
Bases of Valuation on Investments for ASB, ASW 2020, ASM, ASD and AS 1Malaysia
The introduction of MFRS requires the Funds to apply NAV in its valuation bases and processes. The SC has
specified that the Fixed-Priced Unit Trust Funds are permitted but not required to comply with MFRS 139 and MFRS
7 for the financial years ending 31 December 2012 until 31 December 2015, subject to terms and conditions imposed
by SC.
Types
Quoted Investments and Fixed Income
Securities
Unquoted Fixed Income and Debt Securities
Unlisted Collective Investment Scheme
Other Unquoted Investments
Money Market Instruments
Deposits with Financial Institutions
Valuation
Valuation is at cost less provision for permanent diminution in value
of investment. Suspended securities will be valued based on cost,
unless there is conclusive evidence to indicate that the value of
such securities have gone below cost, whereupon their value will
be ascertained in a manner as agreed upon by the Manager and
Trustee.
Valuation is at cost less provision for any permanent diminution in
value and where applicable, adjusted for amortisation of premium
or accretion of discount from acquisition date to maturity dates.
Valuation is at cost less provision for any permanent diminution in
value.
Valuation is at cost less provision for permanent diminution in value
of investment.
Valuation of tradeable money market instruments shall be
determined each day by reference to the principal value of such
authorised investments and the accrued income for the relevant
period.
The value of any deposits placed with financial institutions such as
fixed deposits shall be determined each day by reference to the
accrued income thereon for the relevant period.
5.13
POLICY IN RESPECT OF VALUATION POINT(S) TO DETERMINE THE NAV OF THE FUND
For ASN, ASN 2, ASN 3, ASG-Pendidikan,
ASG-Kesihatan and ASG-Persaraan For ASB, ASW 2020, ASM, ASD and AS 1Malaysia
Valuation is done at mid-day and at the end of each
Business Day. As the NAV per unit is determined
using historical pricing, the NAV per unit published
today is based on the valuation of the Funds at the
end of the preceding Business Day, at the close of the
Bursa Malaysia.
As the units are transacted at a fixed price of RM1.00 per
unit, it is not necessary to value the units on each
Business Day.
Please take note that the Manager may re-price the
units, if their respective NAVs differ by more than 5%
from their NAVs at the previous valuation point due to
material market movement. Upon such event, you are
advised to refer to any ASNB office or agents to get
the latest update.
51 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 6. PERFORMANCE OF THE FUNDS This section covers the following Funds:
Funds
ASN
ASN 2
ASN 3
ASG-Pendidikan
ASG-Kesihatan
ASG-Persaraan
ASB
ASW 2020
ASM
ASD
AS 1Malaysia
6.1
Refer
Page 54
Page 55
Page 56
Page 57 - 59
Page 57 - 59
Page 57 - 59
Page 60
Page 61
Page 62
Page 63
Page 64
CHANGES IN BENCHMARK
With effect from 31 July 2009, the customized benchmarks for ASN, ASN 2, ASN 3 and ASG have been
changed from a composition of KLCI and 3-month KLIBOR to a composition of FBM 100 and 3-month
KLIBOR.
Effective 6 July 2009, Bursa Malaysia has replaced the KLCI composite index (KLCI) with the FTSE Bursa
Malaysia Index 30 (FBM 30), which now known as FBM KLCI. However since the FBM KLCI are limited to
30 stocks components, against KLCI’s 100 stocks’ components, the Manager has decided to use the FTSE
Bursa Malaysia Top 100 (FBM 100) as the Funds equity benchmark replacing the KLCI. FBM 100 consists
of 100 stocks components from various important sectors such as Property, Technology, Insurance and
Construction. The use of FBM 100 is more appropriate with the Funds investment policy and strategy.
The graphs showing “Performance since inception against benchark” for ASN, ASN 2, ASN 3 and ASG
in the following pages indicate such performance since the availability of the FBM 100 in 1996.
6.2
BASIS OF CALCULATIONS AND ASSUMPTIONS IN CALCULATION OF RETURNS
The following are the basis of calculation and any assumption made in calculating the returns:
(a)
The average total return and average annual returns of the Funds presented on pages 51 to 56
are calculated on NAV-to-NAV basis with the following assumptions:
•
The NAV reflects the actual amount of Funds a fund manager has to invest/ work with.
•
Income Distribution is re-invested.
•
No purchase and redemption.
•
No sales charge.
(b)
Annualised returns for all variable-price funds are derived by the rate of returns on an annual basis
over the entire period of investment.
The formula for annualised return is as follows:
[(1 + r1) (1 + r2)…..(1 + r n )] 1/n ‐ 1 x 100 Whereby,
r = annual return n = number of years
52 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 (c)
The annual total return is computed as follows:
Capital Return : 1
: 100 100 Income Return : 1
1
1
100
Total Return (d)
The average total returns for all fixed-price Funds presented on pages 57 to 61 are calculated as
follows:
i.
1-year return is income distribution for that year.
ii.
3-year return is income distribution for that year plus the income distribution for the previous two
years divided by 3.
iii.
5-year return is income distribution for that year plus the income distribution for the previous four
years divided by 5.
iv.
Since inception return is the income distribution made by the Fund since launched.
v.
The rate for 3-month KLIBOR which is more than one year will be computed based on the
average rate at the end of financial year of respective Fund.
vi.
The average total return of the Funds refers to the average distribution of income in sen per unit.
Distribution of bonus of ASB, paid by PNB (if any), is based on minimum monthly balance for 10
years. PNB does not guarantee that bonus payments will be made every year.
vii.
The average of the 5-year MGS which is more than one year is calculated by monthly average
5-year MGS divided by number of months under review.
Please visit our website at www.asnb.com.my for the latest updates on Fund performance.
6.3
PERFORMANCE
OF ASN of the Funds is not an indication of future performance.
Past performance
53 www.asnb.com.my
ASNB MASTER PROSSPECTUS 2013
3/2014 6.3
PERFORMAN
NCE OF ASN
alised Total Return

Annua
ASN
(financial yea
ar ended 31 December
D
2012
2)
1-year
3-year
5-year
10-year
11.42
11.69
5.68
12.24
ASN (%)
Benchmarrk (%)
8.34
9.31
3.63
8.93

Annua
al Total Return
n
ASN
2012
2011
2010
2009
2008
20
007
2006
ASN (%)
11.4
42
5.33
18.7
43.41
-34.04
34
4.7
35.60
-3.13
11.30
0
22.23
186.06
Benchmarrk (%)
4
8.34
2.35
17.7
37.79
9
-33.58
27
7.1
19.03
-1.90
12.61
1
17.72
98.50
(financial yea
ar ended 31 De
ecember)
2005
2004
4
2003
Since
Inception
Note : Since
e inception refers
s to the date from
m 1996 onwards due
d to the availa
ability of FBM 100
0.

ainst benchma
ark
Perforrmance since inception aga
ASN started
d to outperform its benchmark fro
om 2003 onward
ds based on the cumulative total return as show
wn in the graph. For its
financial yea
ar ended on 31 December
D
2012, ASN has also ou
utperformed its benchmark
b
by 3.1
10%.
•
Distrib
bution Record
d
Gross and
d Net Distributtion Per Unit
(sen)
2012
2011
1
2010
20
009
2008
2
2007
2006
2005
2004
4
2003
6.30
6.05
5
6.00
5.2
20
5.50
6.25
5.50
5.50
5.60
0
5.30
Distribution was
w re-invested as additional units in your account.

olio Turnover Ratio
Portfo
(
(financial
yearr ended 31 December)
PTR (times
s)
2012
2011
2010
0.48
0.44
0.35
Significant ch
hange due to:
2011-2010: Higher
H
acquisition of investments.

The as
sset allocation
n of ASN for the last three financial
f
years
s ended 31 De
ecember are as follows:
Asset Allo
ocation
2012 (%)
20
011 (%)
Equity inve
estments
80.29
72.24
Other capittal market instrruments
19.71
27.76
Total
100.00
100.00
2010 (%)
2
69.70
30.30
100.00
Significant ch
hange due to:
2012-2011 - Higher acquisition
n of equity investm
ments.
54 www.asnb.com.my

Annualised Total Return
ASN 2
(financial year ended 30 June 2012)
ASN 2 (%)
Benchmark (%)

1-year
3-year
5-year
10-year
6.56
1.77
14.94
12.88
8.07
3.99
10.03
7.67
Annual Total Return
(financial year ended 30 June)
ASN 2
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
Since
Inception
ASN 2 (%)
6.56
20.51
18.25
-2.53
-0.39
40.24
3.19
5.16
14.00
1.69
168.86
Benchmark (%)
1.77
18.63
19.13
-6.17
-9.87
38.92
4.10
4.69
14.57
-0.71
114.50
With effect from 31 July 2009, the customized benchmark for the fund has been changed from a composition of KLCI and 3-month KLIBOR
to a composition of FBM 100 and 3-month KLIBOR. Refer note 1 at page 49.

Performance since inception against benchmark
Performance Since Inception
Cumulative Total Returns (%)
200
150
100
50
0
‐50
Nov‐ Aug‐ May‐ Feb‐ Nov‐ Aug‐ May‐0 Feb‐ Nov‐ Aug‐ May‐0 Feb‐ Nov‐ Aug‐ May‐ Feb‐ Nov‐ Aug‐
99
00
01
02
02
03
4
05
05
06
7
08
08
09
10
11
11
12
ASN 2
•
80%FBM 100 + 20% 3‐mth KLIBOR
Distribution Record
2012
2011
2010
2009
2008
2007
2006
2005
2004
Gross and Net
Distribution Per Unit (sen)
6.50
5.50
5.20
5.20
5.20
5.20
5.00
5.50
5.50
2003
5.30
Distribution was re-invested as additional units in your account, including investment made through EPF Member’s Investment Scheme.

Portfolio Turnover Ratio
2012
PTR (times)
0.47
2011
2010
0.30
0.47
Significant change due to:
2012-2011: Higher disposal of investments and lower average NAV.
2011-2010: Lower acquisition of investments and higher average NAV.

The asset allocation of ASN 2 for the last three financial years ended 30 June are as follows:
Asset Allocation
2012 (%)
2011 (%)
2010 (%)
Equity investments
Other capital market instruments
75.93
24.07
85.36
14.64
80.81
19.19
Total
100.00
100.00
100.00
2012-2011: Higher disposal of equity investments.
55 www.asnb.com.my

ASN 3
(financial year ended 30 November 2012)
1-year
3-year
5-year
10-year
11.63
9.05
5.35
8.31
6.46
6.48
3.59
6.80
ASN 3(%)
Benchmark (%)

Annual Total Return
ASN 3
2012
2011
2010
2009
2008
2007
2006
(financial year ended 30 November)
2005
2004
2003
Since
Inception
ASN 3(%)
11.63
3.17
12.60
21.96
-17.96
21.10
13.41
-1.54
6.63
18.77
121.67
Benchmark (%)
6.46
1.99
11.17
23.39 -19.91
16.50
12.19
-0.58
9.78 13.51
103.89
With effect from 31 July 2009, the customized benchmark for the fund has been changed from a composition of KLCI and 3-month
KLIBOR to a composition of FBM 100 and 3-month KLIBOR. Refer to 6.1 at page 52.

140
120
100
80
60
40
20
0
(20)
Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐ May‐ Nov‐
01 02 02 03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 10 11 11 12 12
ASN 3
•
Distribution Record
2012 2011
Gross and Net
Distribution
6.30
6.00
Per Unit (sen)
2010
2009
2008
2007
2006
2005
2004
2003
6.00
5.50
7.00
8.00
6.30
7.00
7.50
7.00
Distribution was re-invested as additional units in your account, including investment made through EPF Member’s Investment
Scheme.

(Financial year ended 30 November)
2012
2011
2010
PTR (times)
0.38
0.24
0.27
2012-2011: Higher acquisition and disposal of equity investments.
•
The asset allocation of ASN 3 for the last three financial years ended November 30 are as follows:
Asset Allocation
Equity investments
Total
2012 (%)
2011 (%)
2010 (%)
57.00
43.00
55.51
44.49
49.67
50.33
100.00
100.00
100.00
56 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 PERFORMANCE OF ASG 6.6

ASG
ASG-Pendidikan (%)
Benchmark (%)
(financial year ended 31 March 2013)
3-year
5-year
Since
Inception
7.16
9.56
8.30
7.54
4.23
6.75
5.37
7.66
ASG-Kesihatan (%)
6.79
1-year
Benchmark (%)
ASG-Persaraan (%)
Benchmark (%)

9.79
7.73
8.06
4.37
7.32
5.69
8.35
10.67
11.81
9.39
8.34
3.93
5.59
4.67
6.23
Annual Total Return
(financial year ended 31 March)
ASG
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
17.8
6
22.7
3.59
-3.75
10.0
Since
Inception
100.75
4.15
-1.51
0
21.8
8
26.0
4.07
-3.12
26.7
8
12.9
110.66
4.30
-2.28
3.84
-1.05
3.82
0.00
ASG-Pendidikan (%)
(%)
Benchmark (%)
7.16
6.67
15.04
33.98
-15.45
4.21
4.23
3.87
12.36
31.81
-18.98
1.94
ASG-Kesihatan (%)
6.79
6.54
16.33
37.42
-20.22
4.59
Benchmark (%)
4.37
3.91
13.98
37.36
-22.33
1.56
ASG-Persaraan (%)
10.6
10.35
14.44
31.06
-14.47
5.28
Benchmark (%)
3.93
3.74
9.18
21.26
-11.98
2.62
18.5
3
16.1
31.0
6
7.59
111.31
125.54
116.14
18.5
4
84.30
With effect from 31 July 2009, the customized benchmark for the fund has been changed from a composition of KLCI and 3-month
KLIBOR to a composition of FBM 100 and 3-month KLIBOR. Refer to 6.1 at page 52.

ASG-PENDIDIKAN
130
110
90
70
50
30
10
‐10
Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐
03 03 04 04 05 05 06 06 07 07 08 08 09 09 10 10 11 11 12 12 13
ASG Pendidikan
60%KLCI + 40% 3‐mth KLIBOR
57 www.asnb.com.my
ASG-KESIHATAN
130
110
90
70
50
30
10
‐10
Mar‐ Sep‐ Mar‐ Sep‐ Mar‐0 Sep‐ Mar‐ Sep‐ Mar‐0 Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐ Sep‐ Mar‐
03
03
04
04
5
05
06
06
7
07
08
08
09
09
10
10
11
11
12
12
13
ASG Kesihatan

ASG-PERSARAAN
150
120
90
60
30
0
‐30
Mar‐03
Mar‐04
Mar‐05
Mar‐06
Mar‐07
ASG Persaraan
•
Mar‐08
Mar‐09
Mar‐10
Mar‐11
Mar‐12
Mar‐13
Distribution Record
ASGPendidikan
ASGKesihatan
ASGPersaraan
2013
2012
2011
2010
2009
2008
2007
2006
2005
7.10
7.00
5.60
5.50
5.50
7.00
6.50
6.50
7.25
7.20
7.10
6.10
6.00
6.00
7.25
6.75
6.75
7.30
7.30
7.05
5.10
5.00
5.00
6.75
6.25
6.25
6.75
Distribution was re-invested as additional units in your account, including investment made through EPF Member’s Investment
Scheme.

PTR (times)
ASG-Pendidikan
ASG-Kesihatan
ASG-Persaraan
2013
2012
2011
0.41
0.49
0.30
0.57
0.55
0.34
0.32
0.28
0.35
2013-2012: For ASG-Pendidikan, higher average NAV.
2012-2011: For ASG-Pendidikan and ASG-Kesihatan, higher acquisition and disposal of investments. For ASG-Persaraan, lower
acquisition and disposal of equity investments.
58 www.asnb.com.my
The asset allocation of ASG for the last three financial years ended March 31 are as follows:
ASG-Pendidikan
Equity investments
Total
2013 (%)
2012 (%)
2011 (%)
50.66
49.34
64.04
35.96
62.83
37.17
100.00
100.00
100.00
2013 (%)
2012 (%)
2011 (%)
59.20
40.80
67.29
32.71
62.79
37.21
100.00
100.00
100.00
2013 (%)
2012 (%)
2011 (%)
61.73
38.27
56.30
43.70
61.64
38.36
100.00
100.00
100.00
ASG-Kesihatan
Equity investments
Total
ASG-Persaraan
Equity investments
Total
2013-2012: Higher acquisition of equity investments.
59 www.asnb.com.my
PERFORMANCE OF ASB

Average Total Return
ASB
(financial year ended 31 December 2012)
1-year
3-year
5-year
10-year
7.75
7.63
7.44
7.43
Distribution (in sen)
Bonus (in sen)
1.15
1.18
1.31
1.46
Benchmark (%)
3.21
3.14
2.99
3.14
The average annual return for the Fund refers to the distribution of income in sen per unit. Distribution of bonus of ASB, paid by
PNB (if any), is based on minimum monthly balance for 10 years. PNB does not guarantee that bonus payment will be made every
year.

Annual Total Return
(financial year ended 31 December)
ASB
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
Since
Inception
Distribution
7.75
7.65
7.50
7.30
7.00
8.00
7.30
7.25
7.25
7.25
187.50
Bonus (in sen)
1.15
1.15
1.25
1.25
1.75
1.00
1.25
1.75
2.00
2.00
58.80
Benchmark (%)
3.21
3.22
2.98
2.17
3.37
3.61
3.71
3.22
2.83
3.07
109.88
The annual total return for the Fund refers to the distribution of income in sen per unit as at the end of the financial year.
•
Distribution Record
Gross and Net
Distribution
Per Unit (sen)
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
7.75
7.65
7.50
7.30
7.00
8.00
7.30
7.25
7.25
7.25
Distribution was re-invested as additional units in your account.

(financial year ended 31 December)
PTR (times)
2012
2011
2010
0.11
0.16
0.25
2012-2011: Lower acquisition and disposal of investments.

The asset allocation of ASB for the last three financial years ended December 31 are as follows:
Asset Allocation
2012 (%)
2011 (%)
Equity investments
Total
2010 (%)
72.08
27.92
76.79
23.21
80.66
19.34
100.00
100.00
100.00
2012-2011: Lower acquisition of equity investments.
60 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 PERFORMANCE OF ASW 2020 6.8

ASW 2020
(financial year ended 31 August 2012)
1-year
3-year
5-year
10-year
6.60
6.48
6.55
6.83
3.20
3.13
3.05
3.15
Benchmark (%)
The average total return for the Fund refers to the average distribution of income in sen per unit.

Annual Total Return
ASW 2020
Distribution
(in sen)
Special Distribution
(in sen)
Benchmark (%)
(financial year ended 31 August)
2005 2004 2003
Since
Inception
7.10
7.00
6.60
119.65
2012
2011
2010
2009
2008
2007
2006
6.60
6.50
6.35
6.30
7.00
8.00
6.80
-
-
-
-
-
-
-
-
-
-
2.00
3.20
3.27
2.92
2.14
3.70
3.61
3.81
2.89
2.86
3.10
61.71
The annual total return for the Fund refers to the distribution of income in sen per unit as at the end of the financial
year.
•
Distribution Record
2012
2011
2010
2009
2008
2007
2006
2005
2004 2003
Gross and Net
6.60
6.50
6.35
6.30
7.00
7.00
6.80
7.10
7.00 6.60
Distribution Per Unit
(sen)
Distribution was re-invested as additional units in your account, including investment made through EPF Member’s
Investment Scheme.

(financial year ended 31 August)
2012
2011
2010
0.20
0.25
0.30
PTR (times)
2011-2010: Higher average VOF.

The asset allocation of ASW 2020 for the last three financial years ended August 31 are as follows:
Asset Allocation
2012 (%)
2011 (%)
2010 (%)
Equity investments
Total
67.37
32.63
74.70
25.30
64.85
35.15
100.00
100.00
100.00
61 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 PERFORMANCE OF ASM 6.9

ASM
(financial year ended 31 March 2012)
3-year
5-year
10-year
6.46
6.39
6.75
0.10
0.06
0.03
3.15
2.81
3.07
1-year
6.50
0.30
3.21
Bonus (in sen)
Benchmark (%)

Annual Total Return
ASM
2013
2012
2011
2010
2009
2008
2007
2006
2005 2004
Since
Inception
6.75
7.20
7.00
88.88
Distribution
(in sen)
Special
Distribution
(in sen)
6.50
6.50
6.38
6.30
6.25
7.80
6.80
0.30
‐
‐
‐
‐
‐
‐
‐
‐
‐
0.30
Benchmark (%)
3.21
3.19 3.04 2.52
2.11
3.61
3.64
3.47
2.82 3.04 40.37
The annual total return for the Fund refers to the distribution of income in sen per unit as at the end of the financial year.

Distribution Record
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
Gross and Net
6.80
6.50
6.38
6.30
6.25
7.80
6.80
6.75
7.20
7.00
Distribution Per Unit
(sen)
Investment Scheme.

2013
2012
2011
0.23
0.28
0.39
PTR (times)

The asset allocation of ASM for the last three financial years ended 31 March are as follows:
Asset Allocation
2013 (%)
2012 (%)
Equity investments
Total
2011 (%)
66.52
33.48
67.71
32.29
71.78
28.22
100.00
100.00
100.00
62 www.asnb.com.my
PERFORMANCE OF ASD

ASD
1-year
6.60
3-year
6.48
3.19
3.07
Benchmark (%)
(financial year ended 30 June 2012)
5-year
10-year
6.55
6.76
3.00
3.14

Annual Total Return
ASD
2012
Distribution
(in sen)
Special
Distribution
(in sen)
Benchmark (%)
6.60
-
3.19
2011
6.50
-
3.29
2010
2009
2008
2007
2006
Since
2005
2004
2003
Inception
6.35
6.30
7.00
7.00
6.80
7.20
7.00
6.80
75.55
-
-
-
-
-
-
-
-
2.00
2.72
2.13
3.69
3.60
3.92
2.87
2.87
3.10
34.62
year.
•
Distribution Record
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
6.60
6.50
6.35
6.30
7.00
7.00
6.80
7.20
7.00
6.80
Gross and Net Distribution Per
Unit (sen)
Investment Scheme.

(financial year ended 30 June
2012
2011
2010
0.36
0.37
0.56
PTR (times)
2011-2010: Lower acquisition and higher average VOF.

The asset allocation of ASD for the last three financial years ended 30 June are as follows:
Asset Allocation
2012
2011
(%)
(%)
2010
(%)
Equity investments
Total
70.72
29.28
74.84
25.16
77.87
22.13
100.00
100.00
100.00
63 www.asnb.com.my

PERFORMANCE OF AS 1MALAYSIA
AS 1Malaysia
Benchmark (%)

1-year
6.60
3.26
(financial year ended 30 September 2012)
3-year
5-year Since Inception
6.49
6.49
3.45
-
3.45
Annual Total Return
(financial year ended 30 September)
AS 1Malaysia
2012
2011
Since
Inception
2010
6.60
6.50
6.38
19.48
Benchmark (%)
3.26
3.47
3.63
10.36
year.
•
Distribution Record
2012
Gross and Net Distribution Per Unit (sen)
6.60
2011
2010
6.50
6.38
Investment Scheme.

PTR (times)
(financial year ended 30 September)
2012
2011
2010
0.30
0.53
1.09

The asset allocation of AS 1Malaysia for the financial year ended 30 September are as follows:
Asset Allocation
2012
2011
(%)
(%)
Equity investments
Total
2010
(%)
53.46
46.54
83.35
16.65
67.66
32.34
100.00
100.00
100.00
2012-2011: Higher acquisition in equity investments.
64 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 7. HISTORICAL FINANCIAL HIGHLIGHTS OF THE FUNDS 7.1
AN EXTRACT ON THE FUNDS’ AUDITED FINANCIAL STATEMENTS FOR THE LAST THREE
FINANCIAL YEARS
This section covers the extracts of the following funds’ audited Statements of Comprehensive Income and
Statements of Financial Position for the past three (3) financial years preceding the date of this Prospectus:
ASN
ASN 2
ASN 3
ASG-Pendidikan
ASG-Kesihatan
ASG-Persaraan
ASB
ASW 2020
ASM
ASD
AS 1Malaysia
7.2
Page 65
Page 66
Page 66
Page 67
Page 67
Page 68
Page 68
Page 68
Page 69
Page 69
Page 69
ASN
Extract of Statements of Comprehensive Income for the year ended 31 December
2012
RM’000
52,446
2011**
RM’000
71,492
2010**
RM’000
70,183
Total expenses
19,495
19,530
15,427
Net income before taxation
32,951
51,962
54,756
Net income after taxation
32,951
51,962
54,756
Other Comprehensive Income
109,134
18,725
162,739
Total Comprehensive Income
142,085
70,687
217,495
Total investment income
Extract of Statements of Financial Position as at 31 December
2012
2011**
2010**
RM’000
RM’000
RM’000
Investments
1,319,978
1,337,977
1,318,283
Other assets
16,628
14,881
26,778
Total Assets
1,336,606
1,352,858
1,345,061
(93,698)
(96,615)
(94,321)
1,242,908
1,256,243
1,250,740
Liabilities
Unit holders Capital/NAV*
Note:
*Unit holders Capital refers to the NAV attributable to unit holders.
** Restated based on MFRS.
65 www.asnb.com.my
ASN 2
Extract of Statements of Comprehensive Income for the year ended 30 June
2012
RM’000
15,323
2,746
12,577
12,577
1,488
14,065
2011
RM’000
14,578
2,613
11,965
11,965
32,257
44,222
2010
RM’000
16,014
2,531
13,483
13,483
24,798
38,281
Investments
Other assets
2012
RM’000
229,215
2,685
2011
RM’000
237,452
6,881
2010
RM’000
231,419
2,868
Total Assets
Liabilities
Unit holders Capital/NAV
231,900
(12,006)
219,894
244,333
(10,900)
233,433
234,287
(12,988)
221,299
Total expenses
Extract of Statements of Financial Position as at 30 June
7.4
ASN 3
Extract of Statements of Comprehensive Income for the year ended 30 November
2012
RM’000
2011
RM’000
2010
RM’000
10,906
9,758
8,613
Total expenses
1,944
1,566
1,524
8,962
8,192
7,089
8,962
8,192
7,089
7,101
(3,818)
8,930
16,063
4,374
16,019
Extract of Statements of Financial Position as at 30 November
Investments
Other assets
Total Assets
Liabilities:
2012
RM’000
148,870
2,565
151,435
(8,167)
143,268
2011
RM’000
138,013
1,604
139,617
(7,584)
132,033
2010
RM’000
136,468
2,029
138,497
(7,328)
131,169
66 www.asnb.com.my
ASG
a.
ASG-PENDIDIKAN
Extract of Statements of Comprehensive Income for the year ended 31 March
2013
RM’000
2,611
2012**
RM’000
2,910
2011**
RM’000
1,846
Total expenses
1,039
661
568
1,572
2,249
1,278
1,572
2,249
1,278
2,960
1,220
4,908
4,532
3,469
6,186
Extract of Statements of Financial Position as at 31 March
Investments
Other assets
Total Assets
Liabilities
b.
2013
RM’000
81,891
984
82,875
(5,341)
77,534
2012**
RM’000
58,160
750
58,910
(4,530)
54,380
2011**
RM’000
46,387
876
47,263
(2,436)
44,827
ASG-KESIHATAN
2013
RM’000
3,365
1,308
2,057
2,057
3,684
5,741
Total expenses
2012**
RM’000
3,238
738
2,500
2,500
1,669
4,169
2011**
RM’000
1,893
537
1,356
1,356
4,875
6,231
Investments
Other assets
Total Assets
Liabilities
2013
RM’000
104,770
897
105,667
(6,565)
99,102
2012**
RM’000
76,532
573
77,105
(6,572)
70,533
2011**
RM’000
48,967
906
49,873
(2,656)
47,217
Note:
67 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 c.
ASG-PERSARAAN
2013
RM’000
1,281
388
893
893
1,807
2,700
Total expenses
2012**
RM’000
1,346
307
1,039
1,039
1,407
2,446
2011**
RM’000
1,079
298
781
781
2,361
3,142
Investments
Other assets
Total Assets
Liabilities
7.6
2013
RM’000
28,558
334
28,892
(1,690)
27,202
2012**
RM’000
25,868
264
26,132
(1,880)
24,252
2011**
RM’000
23,874
494
24,368
(1,100)
23,268
ASB
Extract of Statements of Comprehensive Income for the year ended 31 December
Total expenses
7.7
2012
RM’000
8,624,984
438,965
8,186,019
8,186,019
8,186,019
2011
RM’000
7,515,655
612,343
6,903,312
6,903,312
6,903,312
2010
RM’000
6,623,496
481,667
6,141,829
6,141,829
6,141,829
ASW 2020
Extract of Statements of Comprehensive Income for the year ended 31 August
Total expenses
2012
RM’000
2011
RM’000
2010
RM’000
1,248,100
1,194,637
908,102
189,018
210,275
176,024
1,059,082
1,059,082
-
984,362
984,362
-
732,078
732,078
-
1,059,082
984,362
732,078
Note:
68 www.asnb.com.my
ASM
Total expenses
7.9
2012
RM’000
1,130,273
156,262
974,011
974,011
974,011
2011
RM’000
989,384
152,064
837,320
837,320
837,320
2010
RM’000
935,815
130,645
805,170
805,170
805,170
ASD
Extract of Statements of Comprehensive Income for the year ended 30 June
Total expenses
7.10
2012
RM’000
348,898
55,047
293,851
293,851
293,851
2011
RM’000
344,777
46,539
298,238
298,238
298,238
2010
RM’000
261,573
35,561
226,012
226,012
226,012
AS 1MALAYSIA Extract of Statements of Comprehensive Income for the year ended 30 September
Total expenses
2012
RM’000
579,392
82,196
497,196
497,196
497,196
2011
RM’000
413,812
59,754
354,058
354,058
354,058
2010
RM’000
300,577
40,502
260,075
260,075
260,075
The audited financial statements of the Funds are disclosed in the respective Fund’s annual report
which is available upon request.
Past performance of a Fund is not an indication of its future performance.
69 www.asnb.com.my
TOTAL ANNUAL EXPENSES INCURRED BY THE FUNDS
The annual expenses incurred by the Funds for the last financial year are as follows:
Annual
Management Fee
Funds
Annual
Trustee Fee
Other Expenses
Total Annual
Expenses
RM’000
%
RM’000
%
RM’000
%
RM’000
%
ASN19
13,080
1.00
500
0.08
5,915
0.41
19,495
1.49
ASN 219
2,266
1.00
182
0.08
298
0.14
2,746
1.22
ASN 319
1,493
1.00
119
0.08
332
0.23
1,944
1.31
ASG-Pendidikan19
664
1.00
47
0.07
328
0.49
1,039
1.56
ASG-Kesihatan19
861
1.00
60
0.07
386
0.45
1,308
1.52
ASG-Persaraan19
267
1.00
19
0.07
102
0.38
388
1.45
ASB20
393,812
0.35
500
-21
44,65422
0.04
438,966
0.39
ASW 202020
156,580
1.00
500
-21
12,39622
0.09
169,476
1.09
ASM20
140,803
1.00
300
-21
15,15822
0.11
156,261
1.11
ASD20
45,671
1.00
300
-21
3,45222
0.09
49,423
1.09
AS 1Malaysia20
73,372
1.00
800
0.08
8,02522
0.04
82,196
1.12
Note:
19. Reflected as a percentage of average NAV.
20. Reflected as a percentage of average VOF.
21. Less than 0.01%.
22. Other expenses do not include permanent diminution in value of investments.
7.12
MANAGEMENT EXPENSE RATIO
The MER indicates the costs that are incurred in the course of administering the Fund. It is calculated by taking the
fees and expenses paid out of a particular Fund as a percentage of the average NAV of that Fund determined on a
daily basis over the financial period. For fixed-price Funds, MER is computed based on average VOF. A lower MER
indicates the effectiveness of the Manager in managing the costs of the Fund. The MER of the Fund is then
calculated as follows:
MER
=
(Fees + Recovered expenses) of the Fund
Average daily NAV or daily VOF of the Fund for the financial year
X
100
70 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Where:
1.
Fees refer to all ongoing fees deducted/deductible directly from the Fund in respect of the period covered by the management
expense ratio, expressed as a fixed amount. This would include the annual management fee, the annual trustee fee and any
other fees deducted/deductible directly from the Fund.
2.
Recovered expenses of the Fund refer to all expenses recovered from/charged to the Fund as a result of the expenses
incurred by the operation of the Fund expressed as a fixed amount. This should not include expenses that would otherwise be
incurred by an individual investor (e.g. brokerage, taxes and levies).
3.
Average daily NAV or daily VOF of the Fund refers to the total of the daily NAV or VOF of the Fund, including net income less
expenses on an accrued basis, in respect of the Fund for the period covered by the MER, calculated on a daily basis.
The MER incurred by the Funds for the last 3 financial years are as follows:
MER (times)
ASN
MER (times)
ASN 2
MER (times)
ASN 3
MER (times)
ASG- Pendidikan
MER (times)
ASG- Kesihatan
MER (times)
ASG- Persaraan
Financial year ended 31 December
2012
2011
2010
1.49
1.18
1.22
Financial year ended 30 June
2012
2011
2010
1.22
1.10
1.10
Financial year ended 30 November
2012
2011
2010
1.31
1.13
1.13
Financial year ended 31 March
2013
2012
2011
1.56
1.28
1.16
2013
2012
2011
1.52
1.26
1.16
2013
2012
2011
1.45
1.25
1.22
Remarks
The increase in 2012 was due to brokerage fees
which were expensed-off in the current year. The
brokerage fees were capitalized as part of cost
investment in the previous year.
Remarks
Remarks
Remarks
investment in the previous year. Remarks
Remarks
investment in the previous year. 71 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 MER (times)
ASB
MER (times)
ASW 2020
MER (times)
ASM
MER (times)
ASD
MER (times)
AS 1Malaysia
Financial year ended 31 December
2012
2011
2010
0.39
0.37
0.36
Financial year ended 31 August
2012
2011
2010
1.09
0.93
1.01
2013
2012
2011
1.11
1.04
1.01
Financial year ended 30 June
2012
2011
2010
1.09
0.98
1.05
Financial year ended 30 September
2012
2011
2010
1.12
1.03
1.20
Remarks
-
Remarks
Remarks
Remarks
investment in the previous year. Remarks
The audited financial statements of the Funds are disclosed in the respective Funds’ annual report which is
available upon request. Past performance of the Funds is not an indication of future performance.
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ASNB MASTER PROSPECTUS 2013/2014 8. FEES, CHARGES AND EXPENSES Before investing, you must understand that there are fees and charges that are directly and indirectly charged to you.
All charges are non-negotiable.
8.1
CHARGES AND FEES DIRECTLY INCURRED WHEN PURCHASING OR REDEEMING
UNITS OF THE FUNDS
Charges directly incurred when you purchase or redeem units of the Funds are as follows:
Sales Charge
ASB, ASM, ASW 2020 and ASD
No sales charge imposed.
AS 1Malaysia
Up to 1.0% of the invested amount. However, the Manager has the discretion either
to waive or to reduce the sales charge.
ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan
5% of the invested amount. The sales charge is subject to change based on
Manager’s discretion. The rounding up of the NAV per unit will be up to four decimal
places.
Please refer to Section 9.4 on page 76 for an illustration on the calculation of the
sales charge.
EPF Members’ Investment Scheme
Up to 3% of the invested amount. Only charged when you subscribe/purchase units
of ASN 2, ASN 3 and ASG.
Redemption
Charge
No redemption charge will be imposed for the redemption of units.
8.2
CHARGES AND FEES INDIRECTLY INCURRED
8.2.1
Annual Management Fee
The annual management fee is calculated and accrued daily and payable monthly to the Manager. The
Manager is entitled to the following annual management fee:
Fund
Annual Management Fee
ASN, ASN 2, ASN 3,
ASG-Kesihatan,
ASG-Pendidikan,
ASG-Persaraan
ASB
ASW 2020, ASM
ASD
AS 1Malaysia
1.0% per annum of the NAV of the Fund calculated and accrued daily.
0.35% per annum of the VOF calculated and accrued daily.
Up to a maximum of 1.5% per annum of the VOF, calculated and accrued
daily, as may be agreed between the Trustee and Manager.
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ASNB MASTER PROSPECTUS 2013/2014 Illustration:
The Manager of ASN 2 is entitled to a fee of 1.0% per annum of the NAV of ASN 2, calculated and
accrued daily.
The NAV of ASN 2 (before deducting annual management fees and annual trustee fees for the day)
RM250,000,000
Daily management fee accrued
Daily management fee charged
=
1.0% x NAV
365
=
1.0% x RM250,000,000
365
=
RM6,849.32
The annual management fee will be the cumulative daily management fee for that financial year.
8.2.2
Annual Trustee’s Fee
The annual Trustee’s fee is subject to the Deed of the respective Fund. The table below depicts the
Trustee’s annual fee for each Fund.
Fund
ASN
Annual Trustee’s Fee
RM500,000 or 0.08% per annum of the NAV of the Fund, whichever is lower,
calculated and accrued daily.
ASN 2
ASN 3
ASG-Pendidikan
ASG-Kesihatan
ASG-Persaraan
ASB
RM500,000 per annum.
ASW 2020
RM500,000 per annum.
ASM
RM300,000, or 0.08% per annum of the Value of the Fund, whichever is lower,
ASD
RM300,000 or 0.08% per annum of the Value of the Fund, whichever is lower,
AS 1Malaysia
Up to 0.08% per annum of the VOF, subject to a minimum of RM18,000 per
annum, calculated and accrued daily.
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ASNB MASTER PROSPECTUS 2013/2014 Illustration:
The Trustee of ASG-Pendidikan is entitled to a fee of RM450,000 or 0.07% per annum of the NAV of
ASG-Pendidikan, whichever is lower, calculated and accrued daily.
The NAV of ASG-Pendidikan (before deducting annual management fees and annual trustee fees for
the day) RM35,000,000
Daily Trustee’s fee accrued
= 0.07% x RM35,000,000
365
Daily Trustee’s fee charged
= RM67.12
The Trustee’s annual fee will be the lower of the cumulative daily Trustee’s fee for that financial year
compared to RM450,000.
8.2.3
Annual Miscellaneous Fee for Hibah Amanah and Pengisytiharan Amanah
Fund
Annual
Miscellaneous
Fee for Hibah
Amanah and
Pengisytiharan
Amanah
Annual Miscellaneous Fee
Annual Miscellaneous Fee is charged to cater for the various administration costs in
relation to the formation and maintenance of the Hibah Amanah or Pengisytiharan
Amanah.
i.
ii.
The fee is RM10.00
The fee is charged on an annual basis.
2
iii.
The fee shall be deducted from the income distribution (if any) of the Fund that
has been chosen by the Unit holder (donor/dettlor) during the registration
process.
iv. However, the fee is waived for the initial year of the formation of the Hibah
Amanah or Pengisytiharan Amanah.
v. If the amount of income distribution declared is less than the fee, or that no
income distribution had been declared for that year, then the fee shall be
waived.
Illustration:
Assumption : Based on ASN 2

NAV ASN 2 is at RM1.00
st
Unit balance as at 31 December is 30,000 units.
If Hibah Amanah or Pengisytiharan Amanah is established in 2013, the
Annual Miscellaneous Fee for 2013 is waived.
If, as at 31 December 2014 , the unit balance is 50,000
Market value for the month of December 2014 will be :
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ASNB MASTER PROSPECTUS 2013/2014 NAV per unit on 31 December 2014 x Accumulated units
= RM1.00 x 50,000
= RM50,000 (a)

Assuming that the income distribution for ASN 2 as at 31 December 2014
in total is:
=RM 4000 (b)
Annual Miscellaneous Fee : RM10 (c)
Total balance Unit holder’s ASN 2 is as :
(a) + [(b) - (c)]
=[RM50,000+ {RM4000 - RM10}]
= RM50,000 + RM3,990
= RM53,990.00
8.2.4
Funds’ other expenses
The Deeds provide certain other fees and expenses to be paid out of the Funds. These include auditors’
remuneration, custodian and other administration costs such as the printing of interim and annual reports,
distribution expenses, postage and other operating expenses. Statutory payments such as stamp duties, in
appropriate cases, and taxes imposed by the authority will also be paid by the Funds.
8.2.5
Policy on Stockbroking Rebates and Soft Commissions
Funds
ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan,
ASG-Persaraan, ASB, ASW 2020, ASM, ASD and AS 1Malaysia
Policy on Stockbroking
Rebates
Rebates, if any, arising from share transactions will be paid back to the
Fund.
Policy on Soft Commissions
Our policy is not to receive any soft commission.
There are fees and charges involved and investors are advised to consider them before
investing in the Funds.
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ASNB MASTER PROSPECTUS 2013/2014 9. TRANSACTION INFORMATION 9.1
VALUATION POINTS FOR THE PURPOSE OF DETERMINING THE NAV
NAV per unit is determined based on historical pricing and calculated at the end of the preceding Business
Day.
We will revalue the Fund’s NAV as at the mid-day Valuation Point and re-price the units where the NAV of
the Fund differs by more than 5% from the NAV as at the last Valuation Point. The mid-day Valuation Point
is the time of the mid-day close of business of the Eligible Market.
Unit holders are advised to note that all transactions are subject to a rounding mechanism, whereby the total
investment amount or total proceeds/redemption is rounded upwards or downwards to the nearest multiple
of 5 sen effective 1 April 2008.
9.2
NAV FOR ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan AND ASG-Persaraan
The valuation of units is based on the NAV of the Fund. The NAV per unit of the Fund is calculated by
dividing the Fund’s NAV by the number of UIC, rounded to four decimal places. The NAV per unit forms the
basis for the computation of the unit price.
Illustration:
Computation of the NAV per unit at each valuation point is illustrated below:
Less:Liabilities
Net Asset Value
RM
231,000,000
34,500,000
6,100,000
271,600,000
(16,500,000)
255,100,000
Units in Circulation (units)
326,500,000
Quoted Investments
Liquid Assets
Other Assets
Net Asset Value per unit
NAV per unit, rounded to 4 decimal places
9.3
=
NAV
Units in circulation
=
RM255,100,000
326,500,000 units
=
RM0.781317
=
RM0.7813
PRICING POLICY
(a) Pricing of Variable-Price Unit Trust Funds
The price of ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan, NAV per unit is
determined based on historical pricing and calculated at the end of the preceding Business Day.
The Manager will re-price the units if the NAV per unit of the Fund, if revalued, differs by more than
5% from the NAV per unit at the last valuation point.
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ASNB MASTER PROSPECTUS 2013/2014 In the event of any incorrect pricing of NAV per unit of the Fund:
The Manager shall take immediate remedial action where the incorrect pricing:
(i)
is equal or more than 0.5% of the NAV per unit; and
(ii) results in a sum of RM10.00 or more to be reimbursed to the affected Unit holder for each purchase
or repurchase transaction.
Subject to any regulatory requirements, the Manager shall have the right to amend, vary and revise the
above said limits or threshold from time to time.
(b) Pricing of Fixed-Price Unit Trust Funds
(i)
As the units of ASB, ASW 2020, ASM, ASD and AS 1Malaysia are transacted at a fixed price of
RM1.00 a unit, it is not necessary to value the units on each Business Day.
(ii) Prices and Charges for Fixed-Price Funds.
For ASB, ASW 2020, ASM, ASD and AS 1Malaysia, the buying and selling price of unit is fixed at
RM1.00.
There are no charges imposed for buying and selling of units of ASB, ASW 2020, ASM and ASD. For
AS 1Malaysia the sales charge is up to 1.0% of the invested amount. However, the Manager has the
discretion either to waive or to reduce the sales charge.
9.4
SINGLE PRICING POLICY FOR ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan AND
ASG-Persaraan
The Manager adopts the single pricing policy in calculating your investment and repurchase of units. “Single
pricing” which equates to sales and repurchases quoted and transacted on a single price (i.e NAV per unit),
is easier to understand and facilitate investors in comparing the different charges imposed and assist
investors in making an informed decision about their choice of investment products.
Under the single pricing policy, the selling price for units of a Fund is the NAV per unit. However you will be
imposed a sales charge for making an investment in the Fund. As the basis of calculation is historical
pricing, the price will be the NAV per unit, calculated at the end of the previous Business Day. Sales Charge
of 5% of the NAV per unit will be added as part of the purchase cost.
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Making an investment
Illustration 1: If you are making an investment:
(i) Assuming amount you wish to invest (“Investment amount”): RM10,000.00 in ASN.
(ii) NAV per unit : RM0.5000
(iii) Sales charge : 5%
(a) Units issued to you
=
Investment amount
NAV per unit
=
RM10,000
RM0.5000
=
20,000 units
(b) Total sales charge incurred
=
=
=
Investment amount x 5%
RM10,000 X 5%
RM500.00
(c) Total amount payable by you
=
=
=
Investment amount + total sales charge
RM10,000 + RM500.00
RM10,500.00
The rounding up of the NAV per unit will be up to four decimal places. The total amount paid will be
subjected to the rounding mechanism.
Please note that the example above is for illustrative purposes only.
9.4.2
Redeeming an investment
Illustration 2: If you are redeeming your investment:
(i) Assuming amount you wish to redeem: RM10,000.00 in ASN.
(ii) NAV per unit : RM0.5000
(iii) Redemption charge : Nil
(a) No of units redeemed
=
Redemption amount
NAV per unit
=
RM10,000
RM0.5000
=
20,000 units
(b) Redemption charge
=
Nil
(c) Total amount payable to you
=
=
=
No of units redeemed x NAV per unit
20,000 x RM0.5000
RM10,000.00
The rounding up of the NAV per unit will be up to four decimal places. The total amount paid will be
subjected to a rounding mechanism.
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Making an Investment at Re-Priced NAV
Illustration 3: Re-Price:
However, if the Fund’s NAV as at the mid-day Valuation Point differs by more than 5% from the NAV as at last
Valuation Point, the unit will be re-priced after the start of business of the Bursa Malaysia at 2.30 p.m.
You submit an application to invest RM10,000 in ASN 3 at 2.15 p.m.:
NAV of ASN 3: Published Price - NAV per unit : RM0.5000 (rounded to 4 decimal places).
After the mid-day close of business of the Bursa Malaysia, the NAV of ASN 3 has reduced by 7% compared to
the NAV at end of the previous Business Day.
Effectively the unit price for the afternoon session (after 2.30 p.m.) will be re-priced as follows:
NAV of ASN 3: Re-Priced NAV - NAV per unit : RM0.4650 (rounded to 4 decimal places).
Your application will only be processed after 2.35 p.m. (The transactions are suspended from 2.15 p.m. – 2.30
p.m. to enable the information on new pricing be transmitted to all ASNB branches and agents) and will be repriced with the new unit price. You can either cancel or proceed with the application at the new price. If you
decide to proceed with the transaction, your cost of purchase will be as follows:
Your cost of purchase
(a) Investment Amount
(b) Units allotted
(c) Total sales charge incurred
(d) Total amount paid
4. Redee
=
=
RM10,000.00
Investment Amount
NAV
=
RM10,000
RM0.4650
=
21,505.38 units
=
Investment amount x 5%
=
RM10,000 X 5%
=
RM500.00
=
Investment amount + total sales charge
=
RM10,000 + RM500
=
RM10,500.00
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Redeeming an investment at Re-Priced NAV
Illustration 4: Redemption
You submit an application to redeem RM10,000 of your investments in ASN 3 at 2.15 p.m. After the mid-day
close of business of the Bursa Malaysia, the NAV of ASN 3 has reduced by 7% compared to the NAV at end of
the previous Business Day.
Effectively the unit price for the afternoon session (after 2.30 p.m.) will be re-priced as follows:
Re-Priced NAV
NAV per unit, rounded to 4 decimal places
:
RM0. 4650
Your application will only be processed after 2.35 p.m. (The transactions are suspended from 2.15 p.m. – 2.30
p.m. to enable the information on new pricing be transmitted to all ASNB branches and agents) and will be repriced with the new unit price. You can either cancel or proceed with the application at the new price. If you
decide to proceed with the transaction, the amount you will receive for the redemption will be as follows:
Total units redeemed
(a) Redemption Units
(b) Net Redemption proceeds
=
RM10,000
RM0. 4650
=
21,505.38 units
=
=
Redemption units X NAV per unit
=
RM10,000.00
21,505.38 units X RM0.4650
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TRANSACTION DETAILS
9.5.1
9.5.2
9.5.3
Minimum Initial Investment/Subscription of Units, Additional Investment and Maximum
Investment:
•
Subscription of units shall be made at our ASNB offices which provide full range of services,
including cash transactions and branches of our agents throughout Malaysia by completing
a registration form.
•
The Minimum Initial Investment is required upon registration.
•
You will need to pay for the purchase immediately. Please refer to Section 3.12 on page 19
for details.
Repurchase/Redemption of Units
•
Redemption of units shall be made by simply completing the redemption form at any of
our ASNB offices which provide full range of services, including cash transactions or
branches of our agents throughout Malaysia.
•
Payment is made on the spot, except for those who subscribed through EPF Members’
Investment Scheme where payment is to be made to EPF only.
•
There is no restriction on the frequency of redemption.
Switching of Units Betweens Funds
•
Switching can only be made from ASN to ASB, or vice versa, or among the three funds under
ASG, namely ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan.
•
9.5.4
Transfer Ownership of Units
•
Transfer of ownership from the account of the deceased Unit holder to his/her next of kin’s
account will only be undertaken through the process of estate administration which is subject
to death claims procedures, as applied by ASNB from time to time. No initial investment is
required for registration of beneficiary account through transfer of units from deceased
account.
•
9.5.5
You must complete a switching form to proceed with the switching. There is no fee chargeable
for the switching facility. There is no limit for frequency of switching between ASN and ASB.
Switching from ASB to ASN is subject to sales charge. However, the switching facility in ASG
is limited to 4 times in any financial year.
Transfer of ownership from the account of Malaysia Development Holding Sdn. Bhd.
(616572-M) to participants of “Skim Amanah Rakyat 1Malaysia” is allowed subject to transfer
procedures set by the Manager from time to time.
Type of Distribution Channel
•
You can subscribe/purchase and redeem/sell units of ASN, ASN 2, ASN 3, ASG-Pendidikan,
ASG-Kesihatan, ASG-Persaraan, ASB, ASW 2020, ASM, ASD and AS 1Malaysia at any of our
ASNB offices or branches of our agents throughout Malaysia. For further details on addresses,
please refer to the Directory on Sections 18 and 19.
•
You may perform transactions through the online facility via agents’ websites that have been
approved by the SC and subject to the terms and conditions imposed by the agents and
ASNB. The transactions are subject to Funds’ availability and eligible limit. All transactions
made after 5:00 p.m. or such other time that determine by Manager or on non-Business Day
shall be processed on the next Business Day (Federal Territory) or in accordance with the
terms and conditions imposed by the agents.
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•
Currently, the online facilities are available at Maybank2U, CIMB Clicks, affinOnline.com and
RHBNow.The transactions at Bank Simpanan Nasional (BSN) is limited to certain transactions
as specified by BSN.
•
The Manager reserves the right to offer the online facility for any Funds to any of its appointed
agents which is subject to change from time to time. Please refer to the respective agent's
websites for the details of services provided.
Allocation of Units
The Manager has the absolute discretion to offer the units in any manner deemed appropriate.
9.5.7
Cooling-Off Policy
There is no cooling-off period for subscription in the Funds.
9.5.8
9.5.9
Creation of units for purchase applications made under the EPF Members’ Investment
Scheme
a.
Condition to be met before unit creation
Units for applications made under the EPF Members’ Investment Scheme shall be created at
the point the EPF payments or other official confirmations from the EPF on the approval of
such payments are received by the Manager and not on the day the applications are received.
b.
Criteria for determination of NAV per unit
The NAV per unit is ascertained after such applications, complete with payments or other
official confirmations from the EPF on the approval of such payments are received by the
Manager. Units are created and allocated to the Unit holders in accordance with the standard
procedures in processing Unit purchase applications made in cash/cheques.
Unit holder’s right
You are recognised as a Unit holder of the respective Funds upon receipt of the respective
application form and payment (in the case of cheques, upon clearance of cheques) by us. For
investment through EPF Members’ Investment Scheme, you are recognised as a Unit holder of the
respective Funds upon receiving of payments from EPF. Your investments will be evidenced in an
Investment Book or certificate, unless the investment was made under the EPF Members’
Investment Scheme, in which case, the investments will be reflected in a statement, which will be
sent to you.
9.6
PAYMENT OF INCOME DISTRIBUTION
9.6.1
Method of Computation of Income Distribution
Funds
ASN, ASN 2, ASN 3,
ASG-Pendidikan,
ASG-Kesihatan,
ASG-Persaraan
Method of Computation
Distributions, if any, are based on units held at the end of the
distribution period.
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ASB, ASM, ASW 2020, ASD
and AS 1Malaysia
Method of Computation
Distributions, if any, are based on the average sum of the minimum
monthly balance of your units during the distribution period.
Minimum monthly balance for ASB, ASW 2020, ASM, ASD and
AS 1Malaysia means the minimum holding of your units during a
calendar month from the first day until the end of the month.
For AS 1Malaysia only Unit holders at the distribution date are entitled
for the distribution.
Any transaction made during the period when the sale and repurchase of units are suspended shall not be
eligible for calculation of the income distribution, if any.
9.6.2
Policy on Unclaimed Monies
Funds
Unclaimed Monies
ASN, ASN 2, ASN 3
ASG-Pendidikan,
ASG-Kesihatan,
ASG-Persaraan,
ASB, ASW 2020,
ASM, ASD and
AS 1Malaysia
(i)
9.6.3
You are advised to present your cheques for income distribution payment
within six (6) months of issuance of the cheques.
(ii) All outstanding unpresented cheques will be filed and paid to the Registrar of
Unclaimed Monies after the lapse of 12 months from the date of payment,
under the provision of The Unclaimed Monies Act, 1965 (Revised 2002).
After which any subsequent claims will have to be made directly to the
Registrar of Unclaimed Monies.
Reinvestment of Units
9.6.3.1 For ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan (Investment Book)
•
Any distribution declared, may be re-invested as additional units in your accounts, without
additional cost, subject to availability of the Fund’s units at our discretion.
•
Distribution through re-investment of units in your accounts will be effected on the 1st calendar
day after the end of the financial year, based on the NAV at the closing of the end of the
financial year adjusted for the income distribution.
•
Issuance of free additional units or unit splits arising from capital appreciation during any
specified period of the financial year may be made at our discretion, and as approved by the
Trustee, subject to availability of units.
•
If all units are fully subscribed, any suitable method of distribution may be considered such as
switching to other Funds managed by us at the prevailing NAV or price per unit of the Fund.
•
Alternatively, cheques will be issued and sent to your latest registered address.
9.6.3.2 EPF Members’ Investment Scheme for ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and
ASG-Persaraan
•
Any distribution will be re-invested as additional units to the EPF Members’ Investment
st
Scheme and will be effected on the 1 calendar day after the end of the financial year, based
on NAV at the closing of the end of the financial year, adjusted for the income distribution. If
the Fund’s units are fully subscribed, the distribution amount will be paid to the EPF and be
credited into your Account 1.
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ASNB MASTER PROSPECTUS 2013/2014 9.6.3.3 For ASB, ASM, ASW 2020, ASD and AS 1Malaysia (Investment Book)
•
Any distribution declared may be re-invested as additional units of the relevant Fund in your
Fund’s accounts subject to availability of the Fund’s units.
•
Any distribution declared, at our discretion, may be directly credited to your bank account,
without additional cost, subject to your approval and instruction in writing.
•
If all units are fully subscribed, any suitable method of distribution may be considered such as
switching to other Funds managed by us at the prevailing selling price of the units of the Fund.
•
Alternatively, cheques will be issued and sent to your latest registered address.
9.6.3.4 EPF Members’ Investment Scheme for ASW 2020, ASD and AS 1Malaysia
•
9.7
Any distribution will be re-invested as additional units of the relevant Fund to the EPF
Members’ Investment Scheme. If the Fund’s units are fully subscribed, the distribution amount
will be paid to the EPF and be credited into your Account 1.
ADDITIONAL INFORMATION
9.7.1
Dissemination of Information to Unit holders
The annual report of the respective Funds and the interim report of the variable-price Funds which contains
the Manager's report, the Trustee's report, the summarised audited financial statement for the year and the
Auditors' report, will be distributed to you within two (2) months of the Funds’ financial year-end or interim
period.
9.7.2
Record Keeping of Documents
The Manager will keep the documents in respect of your sale and repurchase of Units of the Fund for a
period of seven (7) years from the date of the documents after which the destruction of the documents will
be done in accordance with the Manager’s record management procedures. The registration form will
continue to be kept by the Manager for a period of 7 years from the date you cease to be a Unit holder.
The Manager shall not be obliged to produce any documents requested by you upon the expiry of the
relevant 7 years period.
9.7.3
Information on Current Price per Unit/NAV per Unit
The daily prices of units of ASB, ASW 2020, ASM, ASD and AS 1Malaysia, the NAV per unit of ASN, ASN 2,
ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan are available at our ASNB offices and branch
of our agents and also at our website at www.asnb.com.my.
The Manager has submitted the daily prices and NAV per unit of the funds to Bernama, the agency
responsible for disseminating the pricing to major newspapers. However, the Manager would not be held
liable for the errors or omission of the information on the prices of its Funds in the newspapers or the
publication of the prices.
Please take note that we may re-price the prices of ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan
and ASG-Persaraan at 2.30 p.m., if their respective NAVs differ by more than 5% due to material market
movement from their NAVs at the previous Valuation Point. If such an event occurs, you are advised to refer
to any ASNB office and branch of our agents, to get the latest update.
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Customer Service
Customer-related services are made available at all ASNB Offices as well as by the Customer and Agents
Relations Department (CARD) of ASNB. Any enquiries can be made by contacting 03-2057 3000 (direct
line) or 03-2050 5500 (general line).
Alternatively, you may visit our website at www.asnb.com.my for further information on product and services
of ASNB.
9.7.5
ASNB Office
ASNB Offices are located in strategic and convenient locations in most major cities throughout the country
(please refer to Directory or section 18), which provide the following services:
•
Cash transactions - Subscription and redemption of units.
•
Non-cash transactions - updating of personal particulars, replacement of passbook, switching
between ASB and ASN, switching between funds under the umbrella of ASG, namely ASGPendidikan, ASG-Kesihatan and ASG-Persaraan, khairat claims, estate claims, eligibility, updating
of account and other ASNB-related matters
•
Promotions and marketing of ASNB unit trust funds.
•
Processing of investment made through EPF Members’ Investment Scheme (EPF-MIS) and Salary
Deduction Scheme.
9.7.6
Policies Adopted by ASNB to avoid Money Laundering & Terrorism Funding Activities
In complying with the Anti Money Laundering and Anti-Terrorism Financing Act 2001, the Board of Directors
has approved the following policies and procedures to be administered by ASNB:
•
•
•
Screening of transactions equal and above the threshold level from time to time in any of the Funds;
Conducting review on the transactions equal and above the threshold level;
Reporting of “suspicious” transactions to Bank Negara Malaysia by the designated reporting officer.
9.7.7
Skim Amanah Rakyat 1Malaysia
The Government of Malaysia had announced the establishment of a special scheme for low-income
households i.e. households having a monthly income of RM3,000 and below under a scheme to be known
as “Skim Amanah Rakyat 1Malaysia” (Scheme). Under the Scheme, eligible participants may apply for loans
through participating banks and enjoy incentive payments from Malaysia Development Holding Sdn. Bhd.
(616572-M) (MDHSB) in the form of additional AS 1Malaysia units when they comply with the terms of the
Scheme. If you are eligible and wish to apply for the Scheme please contact the participating banks for the
applications forms and the terms and conditions during the availability period of the Scheme.
The Scheme is administered by MDHSB, a wholly owned subsidiary company of the Minister of Finance
Incorporated, and is managed by PNB. Save as disclosed, neither the Trustee nor the Manager is involved
in the Scheme. The Trustee and the Manager do not make any representations regarding the Scheme and
shall not be responsible or liable for any loss suffered by any party as a result of that party's participation in
the Scheme. You should read and understand the terms and conditions of the Scheme before you apply.
86 www.asnb.com.my
Hibah Amanah and Pengisytiharan Amanah
ASNB offers Hibah Amanah and Pengisytiharan Amanah (“Facilities”) to Unit holders as instruments for
estate planning. The Facilities aim to provide for the management and distribution of the Unit holders’
investments in the Funds upon death of the Unit holders, subject to the terms and conditions of the
Facilities. Unit holders are advised to read and understand the terms and conditions of the deeds, forms and
documents relating to the Facilities.
There are certain fees to be paid by Unit holders who subscribe for the Facilities. Details of the fees that you
may DIRECTLY incur when you subscribe to the Facilities are set out in the table below.
Charges
VARIABLE PRICE (ASN, ASN 2, ASN 3 AND ASG)
FIXED PRICE (ASB, ASW 2020, ASM, ASD AND AS 1MALAYSIA)
Annual Miscellaneous
Fee of Hibah Amanah
and Pengisytiharan
Amanah
The fee is RM10.00, charged on an annual basis. The Annual Miscellaneous
Fee shall be deducted from the income distribution (if any) of the fund that has
been chosen by the Unit holder (Donor / Settlor) during the registration process.
However, the Annual Miscellaneous Fee is waived for the initial year of the
formation of the Hibah Amanah or Pengisytiharan Amanah. If the amount of
income distribution declared is less than the Annual Miscellaneous Fee, or no
income distribution was declared, then the Annual Miscellaneous Fee shall be
waived for the year.
Other fees of Hibah
Amanah and
Pengisytiharan Amanah
Registration
•
•
Amendments or
Substitution of
beneficiary/guardian
Change in
percentage
allocation
•
•
•
•
Revocation
•
•
Claim
•
The fee is charged to the Donor/Settlor upon
registration of Hibah Amanah or Pengisytiharan
Amanah.
Mode of payment is by cash.
The fee is charged to the Donor/Settlor for the
processing of change of new beneficiary/guardian.
The fee is charged to the Donor/Settlor (Unit
holders) for the processing of change in
percentage allocation.
Mode of payment is by cash
The fee is charged to the Donor/Settlor upon full
revocation of Hibah Amanah or Pengisytiharan
Amanah
The fee is charged to the penerima hibah
/beneficiary, to be deducted directly from the
outstanding
balance
of
the
deceased’s
(Donor/Settlor) unit trust fund(s).
The fees as stated in the above table are disclosed in the deed of Hibah
Amanah & Pengisytiharan Amanah that is to be executed by the unit holder
who subscribes to the facilities.
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Material Contracts
Save as disclosed below, there are no other material contracts (including contracts not reduced into writing),
not being contracts entered into in the ordinary course of business, which have been entered into that relate
to each of the Funds within two (2) years preceding the date of this Prospectus:
Funds
Supplemental Deeds and Supplemental Investment Management Agreement
ASN
Supplemental Deeds
Twelfth Supplemental Deed dated 31 May 2011, entered into between ASNB and the
Trustee, for the benefit of the Unit holders.
Supplemental Investment Management Agreement
Second Supplemental Investment Management Agreement entered into between
ASNB and PNB dated 26 August 2011.
ASN 2
Supplemental Deeds
Seventh Supplemental Deed dated 31 May 2011, entered into between ASNB and
the Trustee, for the benefit of the Unit holders.
Second Supplemental Investment Management Agreement entered into between
ASNB and PNB dated 26 August 2011.
ASN 3
Supplemental Deeds
Fifth Supplemental Deed dated 31 May 2011, entered into between ASNB and the
Supplemental Investment Management Agreement entered into between ASNB and
PNB dated 26 August 2011.
ASG - Pendidikan
ASG - Kesihatan
ASG - Persaraan
Supplemental Deeds
Fifth Supplemental Deed dated 31 May 2011, entered into between ASNB and the
ASB
Supplemental Deeds
Tenth Supplemental Deed dated 31 May 2011 and Eleventh Supplemental Deed
dated 23 December 2011, entered into between ASNB and the Trustee, for the
benefit of the Unit holders.
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Supplemental Deeds and Supplemental Investment Management Agreement
ASW 2020
Supplemental Deeds
Seventh Supplemental Deed dated 31 May 2011, entered into between ASNB and
ASM
Supplemental Deeds
Sixth Supplemental Deed dated 31 May 2011, entered into between ASNB and the
ASD
Supplemental Deeds
Sixth Supplemental Deed dated 31 May 2011, entered into between ASNB and the
AS 1Malaysia
Supplemental Deeds
Second Supplemental Deed dated 31 May 2011, entered into between ASNB and
Trustee dated 26 August 2011.
Agreements/Contracts
Online Facility
(a) Online Facility Agreement entered into between ASNB and Bank Simpanan Nasional dated
29 February 2012
(b) Online Facility Agreement entered into between ASNB and RHB Bank Berhad dated
20 September 2012
(c) Online Facility Agreement entered into between ASNB and Malayan Banking Berhad dated
27 February 2012
(d) Online Facility Agreement entered into between ASNB and CIMB Bank Berhad dated 4 April 2011
(e) Online Facility Agreement entered into between ASNB and Affin Bank Berhad dated 20 September
2011
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ASNB MASTER PROSPECTUS 2013/2014 Agreements/Contracts
Distribution Agreement
(a) Unit Trust Adviser Distibution Agreement entered into between ASNB and Maybank Islamic
Berhad dated 20 April 2012
(b) Unit Trust Adviser Distribution Agreement entered into between ASNB and Bank Simpanan
Nasional dated 18 August 2011
9.7.10
Other Benefits of Investing in Unit Trust Funds
•
If you have an ASB, ASW 2020, ASD or AS 1Malaysia account, you may invest through a Salary
Deduction Scheme. Under this Salary Deduction Scheme, monthly deductions may be made from your
salary for investments in ASB, ASW 2020, ASD or AS 1Malaysia, subject to availability of units and
terms and conditions of the Salary Deduction Scheme.
•
If you have an ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan, ASG-Persaraan, ASW 2020, ASD or
AS 1Malaysia account, you may invest through the EPF Members’ Investment Scheme subject to
availability of units and to the terms and conditions of the EPF Members’ Investment Scheme.
•
Bantuan khairat to assist the families of deceased Unit holders is not an entitlement but is given at the
discretion of the Manager to eligible Unit holders. Bantuan khairat may only be given if the application is
made within 6 months after the death of the Unit holder. The Manager reserves the right to amend the
terms and conditions of bantuan khairat from time to time.
90 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 10. MANAGEMENT AND ADMINISTRATION 10.1
GENERAL INFORMATION ON ASNB
The Management Company of ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan, ASG-Persaraan,
ASB, ASW 2020, ASM, ASD and AS 1Malaysia is ASNB, a wholly-owned subsidiary company of PNB.
ASNB was established on 22 May 1979, to manage the Funds launched by PNB. Having been in the
industry for more than 30 years, ASNB has a total of 11 funds with total value of Funds of RM177.11 billion
as at LPD.
10.2
THE BOARD OF DIRECTORS
ASNB has experienced members on its Board of Directors with backgrounds in investment, finance and
management of the public sector. The Board of Directors oversees and ensures that the objectives of the
Funds are achieved. It is responsible for establishing the company's policies and guidelines towards meeting
the objectives. The Board of Directors meets every two months and more frequently should circumstances
require.
Profile of the Board Members
Board Members
Profile
Tun Ahmad Sarji bin
Abdul Hamid
Tun Ahmad Sarji bin Abdul Hamid was appointed to the Board of Directors of
ASNB on 4 February 1997, by virtue of his position as the Chairman of PNB.
He was appointed as a member of the Investment Committee of ASB on 4 March
1998, of ASM on 3 May 2000, of ASD on 20 April 2001, of ASN, ASN 2, ASN 3,
ASG-Pendidikan, ASG-Kesihatan, ASG-Persaraan on 30 June 2006 and of AS
1Malaysia on 7 July 2009. Prior to his appointment as the Chairman of PNB, Tun
Ahmad Sarji was the Chief Secretary to the Government from 1990 to 1996. He
was President, Commonwealth Association for Public Administration and
Management, from 1996 to 1998.
- (Chairman)
(Non-Executive/
Non-Independent)
He was conferred by the Government the “Tokoh Maal Hijrah” for the Islamic year
1420 (1999) and the Director of the Year Award by the Malaysian Institute of
Directors in 1999. Tun Ahmad Sarji also represents the PNB Group as Chairman
of several other companies.
Tun Ahmad Sarji is a graduate of the University of Malaya, the Harvard University
of the United States of America, and the Institute of Social Studies, The Hague,
Netherlands. He was conferred the Honorary Degrees of Doctor of Science
(Management) by Universiti Utara Malaysia, Doctor of Business Administration
by the Nottingham-Trent University, the United Kingdom, Doctor of Letters by the
University Malaysia Sarawak, Doctor of Management by the International Islamic
University, Malaysia and Distinguished Honorary Degree of Doctor of
Management by University Malaysia Perlis.
He was appointed Chairman of the Second National Economic Consultative
Council.
Tun Ahmad Sarji is a member of the Board of Trustees, Oxford Centre for Islamic
Studies and the Asian Institute of Management, Manila, the Philippines; and jointChairman, Malaysia Centre for Commonwealth Studies, University of Cambridge,
the United Kingdom.
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ASNB MASTER PROSPECTUS 2013/2014 Board Members
Profile
Tan Sri Dato’ Sri
Hamad Kama
Piah bin Che
Othman
Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman was appointed an Executive
Director of ASNB on 3 June 1998, following his appointment as the Group Chief
Executive of PNB on 1 February 1998. On 26 February 2002, Tan Sri Dato’ Sri
Hamad Kama Piah was appointed the Group Managing Director/Group Chief
Executive of PNB, and subsequently renamed President and Group Chief
Executive. He was appointed as a member of the Investment Committee of ASN
on 27 February 1998, of ASB on 4 March 1998, of ASN 2 on 30 June 1999, of
ASM on 3 May 2000, of ASD on 20 April 2001, of ASN 3 on 28 September 2001,
of ASG-Pendidikan, ASG-Kesihatan, ASG-Persaraan on 12 March 2003 and of
AS 1Malaysia on 7 July 2009. Tan Sri Dato’ Sri Hamad Kama Piah has been with
PNB since 1979. Prior to his present appointment, Tan Sri Dato’ Sri Hamad Kama
Piah held various senior positions at PNB.
- (Executive/
Non-Independent)
Tan Sri Dato’ Sri Hamad Kama Piah sits on the Board of Directors of a number of
Malaysian public and private companies. A graduate of Universiti Teknologi Mara
and a holder of Masters Degree from the University of Wales, Swansea, United
Kingdom, Tan Sri Dato’ Sri Hamad Kama Piah was conferred an Honorary
Doctorate in Business Administration from Universiti Tenaga Nasional, Malaysia.
Tan Sri Dato’ Sri Hamad Kama Piah is also a Senior Fellow of the Financial
Services Institute of Australasia, a certified Financial Planner with the Financial
Planning Association of Malaysia and a Registered Financial Planner with the
Malaysian Financial Council.
Tan Sri Dato’ Dr.
Wan Mohd. Zahid
bin Mohd.
Noordin
- (Non-Executive/
Independent)
Tan Sri Dato’ Dr. Wan Mohd. Zahid bin Mohd. Noordin was appointed as a
Director of ASNB on 3 August 1999.
Tan Sri Dato’ Dr. Wan Mohd. Zahid holds a Bachelor of Arts Degree from the
Universiti of Malaya, Master of Arts Degree from Stanford University, Palo Alto,
California, the United States of America, and Ph.D. from the University of
California, Berkeley, United States of America. He also attended the Advanced
Management Programme at Harvard Business School, the United States of
America. In 1997, Tan Sri Dato’ Dr. Wan Mohd. Zahid was conferred the Doctor
of Law “Honoris Causa” by the University of Lancaster, the United Kingdom.
Tan Sri Dato’ Dr. Wan Mohd. Zahid has more than 30 years of experience in the
Malaysian education service. He held the post of Director-General of Education of
Malaysia in 1993, and was appointed Advisor with Special Functions to the
Minister of Education in 1998. He was also an advisor to Sekolah Bahasa Teikyo.
He was a consultant to the Institute of Innovation and Technology, Manila, the
Philippines, the UNICEF Research Project on Pre-school Education in Malaysia,
and had been a Council Member of the International Bureau of Education in
Geneva, Switzerland, and the Islamic Scientific, Educational, Social and Cultural
Organisation in Rabat, Morocco. In September 1999, he was appointed by
UNESCO to serve as consultant to the Ministry of Education, Saudi Arabia, when
that country embarked on an education reform initiative.
Tan Sri Dato’ Dr. Wan Mohd. Zahid is the Chairman of several companies. He
had also served as Deputy Chairman of International Bank Malaysia Berhad until
the merger of the bank.
92 www.asnb.com.my
Profile
Tan Sri Dato’
Md. Desa bin
Pachi
Tan Sri Dato’ Md. Desa bin Pachi was appointed to the Board of Directors of
ASNB on 13 July 1979. Tan Sri Dato’ Md. Desa is a Chartered Accountant and
was admitted as an Associate Member of the Institute of Chartered Accountants,
Australia, in 1962, and a Fellow of the Institute of Chartered Accountants,
Australia in 1974. He studied accountancy in Melbourne, Australia, under a
Colombo Plan Scholarship. He joined Shell Group of Companies in 1962 and
served in various capacities in the Finance Administration. From 1970 to 1976, he
was in public practice as a Chartered Accountant and was a partner of Desa
Megat & Co and KPMG Peat Marwick.
-(Non-Executive/
Independent)
Subsequently, he was appointed as the first Chief Executive Officer of PNB and
later served as Chairman/Chief Executive Officer of Malaysia Mining Corporation
Berhad, Executive Chairman of Fleet Group Sdn. Berhad, Chairman/Managing
Director of The New Straits Times Press (Malaysia) Berhad, Chairman of Sistem
Televisyen Malaysia Berhad and Chairman of Bumiputra-Commerce Holdings
Berhad. He is also a Director on the Boards of Directors of several other
companies and a fellow of the Malaysian Institute of Management.
He was appointed as a member of the Investment Committee of ASN, ASN 2,
ASN 3, ASG-Pendidikan, ASG-Persaraan and ASG-Kesihatan on 30 June 2006,
of ASB, ASM, ASD on 17 March 2009 and of AS 1Malaysia on 7 July 2009.
Tan Sri Dato’
Seri Ainum binti
Mohamed Saaid
-(Non-Executive/
Independent)
Tan Sri Dato’ Seri Ainum binti Mohamed Saaid was appointed to the Board of
Directors of ASNB on 8 April 2009. She is also a member of the Board Directors
of PNB and Pelaburan Hartanah Nasional Berhad. Tan Sri Dato’ Seri Ainum holds
a Bachelor Degree in Law from the University of Singapore and a Masters Degree
in Law (Magna Cum Laude) from the University of Brussels.
Tan Sri Dato’ Seri Ainum was Deputy Chief Executive in the SC from 1999 to
2001, and served as Attorney General in 2001. She joined the private sector as
an Executive Director in Pengkalan Holdings Berhad in 1996. She served as
Group Legal Advisor for the Corus Hotels Group UK and later joined Laura Ashley
UK in 2002. She was then appointed Laura Ashley UK’s Joint Chief Executive
Officer and resigned as its Chief Executive Officer in January 2005. Tan Sri Dato’
Seri Ainum was appointed as an Independent Non-Executive Director of Sime
UEP Properties Berhad from March 2005 to November 2007.
Dato’ Idris bin
Kechot
- (Executive/
Non-Independent)
Dato’ Idris bin Kechot was appointed as an Executive Director of ASNB on 1 April
2005. He obtained his Bachelor of Science Degree in Agribusiness from the
Universiti Putra Malaysia in 1983. In 1987, Dato’ Idris secured his Master Degree
in Business Administration specialising in Finance from the University of Stirling,
United Kingdom. In 2006, he attended an Accelerated Development Programme
at London Business School, United Kingdom.
He started his career in 1983 as an Investment Analyst at the Corporate
Research Department of PNB, undertaking industry and sectoral research. In
1988, he joined the Investment Division of PNB as an Equity Dealer, responsible
for the equity investment activities. His vast experience incorporates equity
valuation, equity trading and portfolio management of the proprietary and the unit
trust portfolios.
93 www.asnb.com.my
Profile
He had also undergone extensive training and attachment programmes both
locally and overseas, in the areas of equity valuation, portfolio management and
general management development. To further strengthen his skills and
knowledge in the area of investment management, Dato’ Idris had obtained
qualification as a Certified Financial Planner (CFP). He sits on the Board of
Directors of several other companies. Dato’ Idris bin Kechot was appointed as a
member of the Investment Committee of ASW 2020 effective 27 June 2011.
10.3
COMPANY SECRETARY
Company Secretary
Profile
Puan Adibah
Khairiah binti Ismail
@ Daud (MIA 13755)
With effect from 3 October 2006, Puan Adibah Khairiah binti Ismail @ Daud was
appointed as the Company Secretary of ASNB. She holds a Bachelor of
Commerce from Australian National University. She is a Chartered Accountant
and is a member of the Malaysian Institute of Accountant since 1999.
- Company
Secretary
Puan Adibah started her career with Coopers & Lybrand, Public Accountants,
from 1988 to 1994. She had served Sapura Holdings Sdn. Berhad as Audit
Manager from 1994 to 1997, and subsequently served Sapura Industrial Berhad
from 1997 to 1999, as Head of Internal Audit. She had also served Percon
Corporation Sdn. Berhad as Financial Controller cum Company Secretary from
2002 to 2005. She joined PNB in 2005 and was seconded to Pelangi Berhad, as
Chief Financial Officer. Puan Adibah is presently attached to the Company
Secretary’s Department of PNB since October 2006. She sits on the Board of
Directors of several companies.
10.4
Profile of the Key Management Staff
Key Management
Profile
Dato’ Idris bin
Kechot
(as afore-mentioned)
- Executive Director
Encik Kamarul
Baharin bin Mohd.
Daud
- Senior VicePresident I,
Unit Trust
Operations
Department
Encik Kamarul Baharin bin Mohd. Daud holds a Masters in Business
Administration Degree from the Asian Institute of Management. He joined PNB in
1984 and has served as investment analyst, money market dealer, share trading
dealer and portfolio manager in the Investment Operations Division. In 1997, he
has served as head of the Investment Processing and Procurement Department.
Presently, he is in charge of the Unit Trust Operations Department, ASNB. He
sits on the Board of Directors of several companies. He is also a Certified
Financial Planner.
94 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Key Management
Profile
Encik Mohammad
bin Hussin
Encik Mohammad bin Hussin holds a Master in Business Administration from
Cranfield University, United Kingdom in 1990 and BBA (Marketing) from
University of Portland, Oregon, United States of America in 1984.
- Senior VicePresident II,
Marketing and
Branch
Operations
Department
He has served in several organisations prior to the current position in ASNB. He
was the Corporate Planning Manager of Federal Power Sdn. Berhad in 1990,
and later moved to Edaran Otomobil Nasional Berhad (EON) as the Special
Assistant to Managing Director in 1993 to 1998. He was attached to UMW
Toyota Motor in 2000 as Head of Corporate Communications Department before
joining PNB in 2003. Prior to his present position, he was the head of Corporate
Services Department, PNB in 2003 and heading Corporate Communication
Department, PNB in 2004. In 2007, he was assigned to manage Marketing and
Branch Operations of ASNB. In August 2005, he was among the first batch of
PR Practitioners in Malaysia who was accorded Accredited Practitioner Status
APR from Institute of Public Relation Malaysia (IPRM). He is also a Registered
Financial Planner with Malaysian Financial Planning Council (MFPC). He sits on
the Board of AMWAY (Malaysia) Holdings Bhd as a director.
Puan Siti Norilah
binti Shamsul Bahri
- Assistant VicePresident,
Customer and
Agent Relations
Department
Encik
Kamaldeen
bin NM Abdul Kader
- Assistant VicePresident,
Accounts
Department
10.5
Puan Siti Norilah binti Shamsul Bahri holds a Bachelor of Business
Administration Degree majoring in Finance and Economics from Memphis State
University, United States of America (USA).
Prior to joining PNB in 2006, she was an Assistant Vice-President with CIMB
Bank in the Retail Banking Department. She started her career in banking with
RHB Bank (then Kwong Yik Bank) more than 20 years ago, and had been
exposed in many different departments namely Branch Operations, Marketing &
Product Management, Investment Services and Branch Network/Channel
Management. She is also a Registered Financial Planner with Malaysian
Financial Planning Council (MFPC). Currently, she heads the Customer and
Agent Relations Department of ASNB.
Encik Kamaldeen bin NM Abdul Kader is a member of the Malaysian Institute of
Certified Public Accountants (MICPA). He joined PNB in 1989 as a consultant of
PNB Corporate Development Sdn. Berhad, and subsequently worked in the
Investment Division of PNB. He was transferred to the Accounts Department,
ASNB, in January 2002. He sits on the Board of Directors of Lakehomes
Development Sdn Bhd.
SENIOR COMPLIANCE OFFICER
Senior Compliance
Officer
Profile
Encik Paisol
Ahmad
Encik Paisol bin Ahmad is the designated Senior Compliance Officer. He is also
the Senior Vice-President I, Head of Financial and Management Audit and Risk
Management Division of PNB. Encik Paisol is a Fellow of the Association of
Chartered Certified Accountants (United Kingdom), a member of the Malaysian
Institute of Accountants and a Fellow of Financial Services Institute of
Australasia (FINSIA). Encik Paisol has more than 15 years of experience in the
unit trust industry having served in various senior positions within PNB since
1993. Encik Paisol is a Certified Financial Planner. He is also a registered
compliance officer with the Securities Commission Malaysia. He sits on the
Board of Directors of several companies.
bin
- Senior VicePresident I/ Senior
Compliance
Officer
95 www.asnb.com.my
FINANCIAL INFORMATION ON ASNB
The following is the summary of the past performance of ASNB based on its audited accounts for the last
three years from 2010 to 2012:
Year Ended 31 December
Paid-up capital
Shareholders’ funds
Revenue
Pre-tax profit
Profit After Tax &
Zakat
10.7
10.8
RM’000
2012
RM’000
2011
RM’000
2010
30,000
175,840
844,864
374,004
30,000
184,786
746,838
355,568
30,000
234,655
653,888
301,596
266,054
259,131
222,797
ROLES, DUTIES AND RESPONSIBILITIES OF THE MANAGEMENT COMPANY
•
To manage and administer the Funds in a proper, diligent and efficient manner, in accordance with the
Deeds and prospectus of the Funds, the Guidelines and securities laws, and acceptable and
efficacious business practice within the unit trust industry.
•
To act with due care, skill and diligence in managing the Funds, and effectively employ the resources
and procedures necessary for the proper performance of the Funds.
•
To observe high standards of integrity and fair dealing in managing the Funds to the best and exclusive
interest of Unit holders.
•
To take all necessary steps to ensure that the assets of the Funds are adequately protected and
properly segregated.
•
To account to the Trustee for any loss suffered by the Funds as a result of our failure to exercise the
degree of care and diligence required in managing the Funds.
FUNCTIONS OF THE INVESTMENT COMMITTEES OF THE FUNDS
10.8.1 The Investment Committees of Funds are responsible for the following:
•
To provide broad investment policies and guidelines for effective and efficient management of the
Funds, incorporating good corporate governance and best practices in managing the Funds.
•
To provide guidance in meeting the objectives of the Funds and ensure competitive returns to the Unit
holders.
•
To approve investment plans and strategies for the short-term, medium-term and long-term horizons so
as to enhance and maximise the value of the investment portfolio.
96 www.asnb.com.my
Members of the Investment Committees
ASN, ASN 2, ASN 3, ASG-Pendidikan,
ASG-Kesihatan, ASG-Persaraan, ASB, ASM,
ASD and AS 1Malaysia
ASW 2020
Chairman, (Non-Independent Member)
2. Tan Sri Dato’ Sri Hamad Kama Piah bin Che
Othman
2. Tan Sri Faizah binti Mohd Tahir
4. Encik Cheng Kee Check
10.8.3
Profile of Members of the Investment Committees of ASB, ASM, ASD, AS 1Malaysia, ASN,
ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan and ASG-Persaraan
Members
Profile
Tun Ahmad Sarji bin Abdul Hamid (as afore-mentioned)
Tan Sri Dato’ Sri Hamad Kama
Piah bin Che Othman
Tan Sri Dato’ Md. Desa bin Pachi
Tan Sri Dr. Wan Abdul Aziz bin
Wan Abdullah
Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah was appointed as a
member of the Investment Committee of ASB, ASM, ASD, AS
1Malaysia, ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG-Kesihatan,
ASG-Persaraan on 4 December 2012. He was appointed as a
member of the Board of Directors of Permodalan Nasional Berhad
(PNB) on 9 April 2012 and Chairman of Audit Committee and
Compliance Committee of the Board of Directors of PNB.
Tan Sri Dr. Wan Abdul Aziz has more than 37 years of experience in
the public sector, most notably in the area of economic planning and
finance. He started his career at the Economic Planning Unit (EPU),
Prime Minister’s Department in 1975, serving in various capacities in
the area of macro economy, human resource and energy. He also
served as an Alternate Executive Director for the World Bank Group
in Washington DC, where he represented several Asian countries.
He then returned to Malaysia in 2001 to serve in the Ministry of
Finance and also in EPU, Prime Minister’s Department. In 2007 he
was appointed the Secretary General of Treasury until his retirement
in August 2012. Tan Sri Dr. Wan Abdul Aziz is the Chairman of
Malaysia Airports Holdings Berhad, Bintulu Port Holdings Berhad
and Bank Pembangunan Malaysia Berhad. He also sits on the Board
of Directors of several other companies. He holds a Ph.D in
Business Economics from the University of Leeds, United Kingdom.
97 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 Members
Profile
Dato’ Dr. Abdul Halim bin Ismail
Dato’ Dr. Abdul Halim bin Ismail was appointed as a member of the
Investment Committee of ASB on 4 March 1998, of ASM on 3 May
2000, of ASD on 20 April 2001, of ASN, ASN 2, ASN 3, ASGPendidikan, ASG-Kesihatan, ASG-Persaraan on 17 March 2009, of
AS 1Malaysia on 7 July 2009 and of ASW 2020 on 27 April 2010.
Dato’ Dr. Abdul Halim holds a Bachelor of Arts (Hons.) Degree in
Economics from the University of Malaya and Doctor of Philosophy
(D. Phil.) in Economics from University of Oxford, the United
Kingdom. He has been deeply involved in Islamic Banking, Takaful
and Capital Market.
10.8.4
Profile of the Members of the Investment Committee of ASW 2020
Members
Profile
Dato’ Dr. Abdul Halim bin Ismail
Tan Sri Faizah binti Mohd Tahir
Tan Sri Faizah binti Mohd. Tahir was appointed as a member of the
Investment Committee of ASW 2020 on 27 April 2010. She is a
graduate with a Bachelor in Economics from the University of Malaya
and obtained her Masters in Development Economics from Williams
College, the United States of America.
Tan Sri Faizah was the Secretary General of the Ministry of Women,
Family and Community Development of Malaysia since the
establishment of the Ministry in 2001 until her retirement in 2009.
She had served in government departments for more than 35 years,
in the administration and diplomatic service. She has vast experience
in the area of public administration and management.
Dato’ Idris bin Kechot
Encik Cheng Kee Check
Tan Sri Faizah also sits on the Board of Directors of several
companies. (as afore-mentioned)
Encik Cheng Kee Check was appointed as a member of the
Investment Committee of ASW 2020 on 15 October 2012. Encik
Cheng is an Advocate & Solicitor and was called to the Malaysian
Bar in 1990. He is a graduate of the National University of Singapore
and has also been admitted to the Singapore Bar. He commenced
practice with Messrs Skrine in 1990 and has been a partner of the
firm since 1997.
Encik Cheng has been involved in a broad range of corporate work in
his practice, which included mergers and acquisitions, takeovers,
reverse takeovers and restructurings of well-known corporations in
Malaysia. He has also been involved in the listings of companies and
in matters such as the issuance of bonds, loan stocks and warrants.
His other areas of work include foreign investments into Malaysia and
corporate advisory work.
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THE INVESTMENT MANAGER
10.9.1
PERMODALAN NASIONAL BERHAD (Investment Manager of the Funds)
PNB has been entrusted by ASNB to manage the investments of the Funds. Established in 1978 as one of
the vehicles of the New Economic Policy, PNB has made considerable success in promoting share
ownership of the Bumiputera in the corporate sector through its Funds. With more than 30 years of
experience in fund management, PNB has a proven track record whereby returns from its Funds have
benefited Malaysians from all walks of life from the age of six (6) months and above. As at LPD, PNB
manages total funds of RM245.85 billion.
ASNB assesses the performance of PNB as the Investment Manager of the Funds based on the investment
mandates, objectives and other functions as stipulated in the Investment Management Agreements signed
between ASNB and PNB, taking into consideration the relevant market and industry benchmarks.
Profile of the Key Management Staff of PNB
Key Management Staff
Profile
Tan Sri Dato’ Sri Hamad Kama
Piah bin Che Othman
Datin Paduka Jamiah binti
Abdul Hamid
Datin Paduka Jamiah binti Abdul Hamid started her career in 1982 as
the first batch of management trainee with PNB. Having served more
than 30 years in the organisation, Datin Paduka Jamiah has
accumulated extensive experience and expertise through the various
positions held in the areas of investment operations, corporate finance,
corporate communication, human resource and international fund.
- Deputy President,
Corporate and International
She received her tertiary education abroad (University of Northern
IIIinois, B.Sc (Finance) and locally (UKM, MBA). Currently, she is a
director of several of PNB investee companies and also a holder of a
Capital Markets Services Representative’s Licence and is a Certified
Financial Planner. Today, Datin Paduka Jamiah is the Deputy
President, Corporate and International of PNB.
Datin Paduka Kartini binti Hj.
Abdul Manaf
- Chief Strategy Officer
Datin Paduka Kartini started her career in PNB in March 1983 and is
presently the Chief Strategy Officer of PNB. In her career of over 29
years at PNB, she had served in various capacities and different
departments, covering portfolio management, property investment,
corporate finance and business development.
She holds a Bachelor of Business Administration and a Master of
Business Administration from Ohio University, United States of
America. She is also a Certified Financial Planner and a holder of
Capital Markets and Services Representative’s Licence. Currently,
she also sits on the Board of Directors of several PNB investee
companies.
Puan Adibah Khairiah binti
Ismail @ Daud (MIA 13755)
- Company Secretary
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ASNB MASTER PROSPECTUS 2013/2014 INVESTMENT DIVISION OF PNB
The Investment Division of PNB’s main responsibility is in managing the variable-price and fixed- price
Funds namely ASN, ASN 2, ASN 3, ASG-Pendidikan, ASG Kesihatan, ASG-Persaraan, ASB, ASW 2020,
ASM, ASD, AS 1Malaysia and PNB Structured Investment Fund. Its investment process incorporates
fundamental, research-driven and team-based investment decisions which are guided by the Investment
Committee of the abovementioned Unit Trust Funds. The portfolio management team formulates and
recommends the investment strategies of the funds in accordance with the investment mandates based on
optimal asset allocation strategies and diversification. These strategies are executed by the equity and fixedincome dealing teams. The division is well supported by a team of analysts that performs the securities
evaluation process which incorporates economic, industry, sector, financial and credit analysis. As at LPD,
the Investment Division has staff strength of 66 persons. The investment professional are segregated into a
team of 19 professionals in the portfolio management team, 6 professionals in the equities trading team,
5 professionals in the fixed-income investment team, 27 analysts in the Investment Evaluation Department
and 9 support staff. These professionals continually strive to meet the expectation of Unit holders of funds
under PNB’s management in carrying out their duties.
The Investment Division of PNB and its related areas have been awarded MS ISO 9001-2000 certification
for its investment process.
Profile of Key Management Staff of the Investment Division of PNB
(Investment Manager of the Funds)
Profile
Encik Wan Roshdi bin Wan Musa Encik Wan Roshdi bin Wan Musa, the designated Fund Manager for
the investment management of the Funds. Encik Wan Roshdi bin
- Executive Vice President/
Wan Musa, is presently the Head of Investment Division of PNB. He
Chief Investment Officer
holds a Masters Degree in Business Administration, a Bachelor of
PNB
Science in Finance from United States of America and a Diploma in
Accountancy from Universiti Teknologi MARA. Encik Wan Roshdi is a
licensed fund manager and also a qualified Certified Financial Planner
(CFP). He started his career in 1985 at the Corporate Finance and
Corporate Services Department of PNB, rising to a position of Head of
Department. In 2003, Encik Wan Roshdi was transferred to the
Investment Division of PNB to assist the Senior Vice-President in
supervising the investment evaluations, market operations and
portfolio management of the proprietary and unit trust funds. He also
sits on the Board of Directors of several companies.
Encik Abdul Rahim bin Ahmad
- Vice-President I,
Portfolio Management
Department
Encik Abdul Rahim Ahmad, Vice-President I, is presently the Head of
Portfolio Management Department of Investment Division of PNB. He
holds a Bachelor Degree in Statistics from Universiti Kebangsaan
Malaysia and a Graduate Diploma in Applied Finance and
Investment from Financial Services Institute of Australasia.
Encik Abdul Rahim is a holder of Capital Market Services
Representative’s Licence, a fellow member of Financial Services
Institute of Australasia (F.Fin) and a qualified Certified Financial
Planner (CFP). He started his career at PNB in 1991 as an
Investment Analyst in the Investment Operations Department.
Presently, he is responsible for the overall operations of Portfolio
Management Department and supervises the daily fund management
of PNB’s proprietary fund and all funds managed by PNB.
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ASNB MASTER PROSPECTUS 2013/2014 CORPORATE AND INTERNATIONAL - PNB
Corporate and International operations undertake its investment functions through three departments
namely, Corporate Services, Corporate Finance, and International Fund Management and a subsidiary
entity, PNB Equity Resource Corporation Sdn. Berhad (PERC). Corporate Services and Corporate Finance
departments are mainly responsible to monitor and recommend value enhancement exercises of the
investee companies held by PNB and the Funds under its management. International Fund Management
department manages the proprietary fund of PNB invested in the global capital market, while PERC is
involved in private equity investment. Corporate and International operations also monitor PNB’s subsidiary
entities involving in fund management activities through Singapore Unit Trusts Limited, PNB (UK) Limited
and PNB Asset Management (Japan) Co. Ltd. These operations are well supported by analysts and
portfolio managers that perform various investment functions.
Corporate and International operations also cover other functional areas namely, Human Resource, Human
Capital Planning and Development, Corporate Communications, Education Development and Corporate
Social Responsibility.
Profile of Key Management Staff of the Corporate and International of PNB
Members
Profile
Datin Paduka Jamiah binti
Abdul Hamid
- Deputy President,
Corporate and International
Profile of Key Management Staff of the Corporate Finance Department of PNB
Key Management
Profile
Puan Syarifah binti Kassim
Puan Syarifah binti Kassim is currently the Head of Corporate Finance
Department in PNB. She graduated from University of Exeter, United
Kingdom, with a Bachelor of Arts in Accounting Studies (Honours) degree.
- Assistant Vice President
Corporate Finance
She joined PNB in 1997 and has gained various experiences in
investment management including as an Investment Analyst and
Portfolio Manager of the Unit Trust Funds. In 2005, she joined Corporate
Finance Department and becomes part of the team handling major
corporate exercises for PNB. Prior to joining PNB, she started her
career in the banking and insurance industry. She also sits on the Board
of Directors of a few companies.
Profile of Key Management Staff of the Corporate Services Department of PNB
Key Management
Profile
Puan Amizar binti Mizuar
Puan Amizar binti Mizuar currently serves as the Assistant Vice President,
Corporate Services Department of PNB, and is responsible to monitor
performance and recommend value enhancement exercises of investee
companies. She holds a Master of Business Administration in Applied
Finance and Investment from Universiti Kebangsaan Malaysia, a
Graduate Diploma in Applied Finance and Investment from the Securities
Institute, Australia and a Bachelor Degree in Business Administration
- Assistant Vice President
Corporate Services
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ASNB MASTER PROSPECTUS 2013/2014 (Hons) from Universiti Utara Malaysia.
She started her career at PNB in 1995 and has gained various
experiences mainly in the areas of investment and corporate finance and
was involved in several corporate exercises undertaken by PNB. She has
also accumulated experiences in the areas of human resource, education
development and corporate communications when she was assigned to
assist the Deputy President, Corporate and International of PNB. Puan
Amizar is a holder of Capital Market Services Representative’s Licence
and also sits on the Board of Directors of a few companies.
FINANCE AND INVESTMENT PROCESSING DIVISION OF PNB
The Finance and Investment Processing Division that consists of the Finance Department and the
Investment Processing Department is headed by its Chief Financial Officer, Dato’ Mohd. Nizam bin
Zainordin. The Finance Department carries the main finance and accounting functions of PNB while the
Investment Processing Department carries the responsibility of settling the transactions related to equities
trading, money market and various corporate actions for investments of all the Unit Trust Funds.
Profile of Key Management Staff of the Finance and Investment Processing Division of PNB
Profile
Dato' Mohd Nizam bin
Zainordin
Dato’ Mohd Nizam bin Zainordin holds an Executive Masters in Business
Administration from the Asian Institute of Management. He is also a Fellow
of the Association of Chartered Certified Accountants, the United Kingdom
(FCCA) and is a member of the Malaysian Institute of Accountants. He
first joined PNB in 1994. Dato’ Mohd. Nizam Zainordin sits on the Board of
Directors of several listed and unlisted companies.
- Chief Financial Officer
PNB
He also sits on the Board of Directors of Malaysia Development Holding
Sdn. Bhd., a wholly owned subsidiary company of the Minister of Finance
Incorporated, which is identified by the Government of Malaysia to
administer “Skim Amanah Rakyat 1Malaysia”. He is also a qualified
Certified Financial Planner (CFP).
FINANCIAL AND MANAGEMENT AUDIT DIVISION OF PNB
Profile of Key Management Staff of the Financial and Management Audit Division of PNB
Encik Paisol bin Ahmad
Profile
- Senior Vice-President I /
Senior Compliance Officer
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ASNB MASTER PROSPECTUS 2013/2014 RISK MANAGEMENT DEPARTMENT OF PNB
Profile of Key Management Staff of the Risk Management Department of PNB
Profile
Encik Mohamad Saipul Bahri bin
Awang
- Chief Risk Officer
Encik Mohamad Saipul Bahri bin Awang has been appointed as the
Chief Risk Officer (CRO) of Permodalan Nasional Berhad (PNB) in
February 2013. He holds a Bachelor of Science (BSc) Degree in
Actuarial Mathematics and Statistics from Heriot-Watt University in
Edinburgh, the United Kingdom. He is a fellow member of Financial
Services Institute of Australia (F.Fin), a Certified Financial Planner
(CFP) and a member of the Financial Planning Association of Malaysia.
He has been with the company for 16 years and had served three
departments within PNB group. Prior to his appointment as CRO, he
was the Assistant Vice-President of the Portfolio Management
Department of PNB where he was responsible for the portfolio
management activities of the Unit Trust Funds and the risk
management activities of the Investment Division.
LEGAL DEPARTMENT OF PNB
Profile of Key Management Staff of the Legal Department of PNB
Profile
Puan Adibah Khairiah binti
Ismail @ Daud (MIA 13755)
- Officer in Charge
INFORMATION TECHNOLOGY DIVISION OF PNB
Profile of Key Management Staff of the InformationTechnology Division of PNB
Profile
Encik Mohd Zaki bin Talib
Encik Mohd Zaki bin Talib is presently the Head of Information
Technology Division in PNB. He holds a Bachelor's Degree in Computer
and Communication Science from the University of Michigan, Ann Arbor,
USA and a Diploma in Computer Science from the University Technology
MARA (UiTM).
- Vice-President I,
IT Division
Prior to joining PNB in 2005, he was the Chief Operating Officer (COO) of
UMW E-Technologies Sdn Bhd, a subsidiary of the UMW Group. He had
also served in various positions in CELCOM, MAXIS and Petroliam
Nasional Berhad. He is also a PNB nominee board member in CARSEM
(M) Sdn Bhd and RECAMS Sdn Bhd (formally known as Carsem
Semiconductor Sdn Bhd).
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FUNCTIONS OF THE INVESTMENT MANAGER
The main functions of the Investment Manager of the Funds are as follows:

To manage the Funds in accordance with the investment guidelines, Deeds, securities laws and
Guidelines.

To meet the objectives of the Funds through the formulation of appropriate investment strategies, asset
allocation and selection of stocks and other investment instruments in order to ensure you receive
competitive returns.

To continuously enhance and maximise value of the Funds through regular restructuring and
rebalancing of the investment portfolios.

To abide by the internal investment policies and procedures in safeguarding and promoting your best
interests.

To provide accurate information to enable us to deal with and report to all necessary authorities and
bodies on all matters pertaining to or arising out of the management of the Funds as requested by the
relevant laws, regulations and guidelines.

To maintain proper up-to date records of all acts and matters undertaken related to the management of
the Funds.
The Investment Manager of the Funds reports to the Board of Directors of ASNB and the respective
Investment Committees of the Funds.
10.10
RETIREMENT, REMOVAL OR REPLACEMENT OF THE MANAGEMENT COMPANY
The Management Company may retire from its post and be replaced with some other qualified management
company approved by the Trustee after the following conditions under the law have been satisfied:
i.
The retiring Management Company shall appoint a corporation to replace in writing and under the seal
of the retiring Management Company as the new Manager of the Fund. The new Manager will be
assigned all the rights and duties of the former Management Company;
ii.
The qualified and approved newly appointed management company must enter into the deed;
iii.
Once the retiring Management Company pays all sums due to the Trustee, the retiring Management
Company will no longer be held accountable and be released from any future obligations as a
Management Company of the Fund.
The present Management Company may be removed in any of the following events:
i. According to Section 301 of the Act, the Management Company may be removed by the Trustee as
soon as the Trustee becomes aware that the Management Company:
•
•
•
•
Has failed or is unable to carry out its duties as required by the Trustee, and for any other reasons
to ensure the interest of the Unit holders are protected; or
Is in liquidation; or
Is under receivership or has ceased to carry on business; or
Has failed to comply with any provisions of the Deed, the Act and other relevant laws.
ii. If an extraordinary resolution is passed by the Unit holders that the Management Company be removed.
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ASNB MASTER PROSPECTUS 2013/2014 The appointment of the new Management Company must first be approved by the SC. Once approval is
obtained, the new Management Company will enter into a deed or deeds (on the advice of the Trustee) to
ensure that the Management Company performs its duties as Manager during the remainder of the period of
the Fund.
10.11
POWERS OF THE MANAGEMENT COMPANY TO REMOVE THE TRUSTEE
The Trustee may be removed and another Trustee may be appointed by an extraordinary resolution of the
Registered Holders at a duly convened meeting of which notice has been given to the Trustee and
Management Company. The Management Company will summon a meeting of Registered Holders for the
purpose of considering and if thought fit, passing a resolution for the removal of the Trustee in the event that
the Registered Holders request the Management Company to do so, in the manner as stated in the Deed of
the respective Funds.
Pursuant to Section 299 of the Act, it is the duty of the Management Company to remove the Trustee as
soon as it becomes aware that the Trustee:
i.
Has ceased to exist;
ii.
Has not been validly appointed;
iii.
Is not eligible to be appointed or to act as trustee under Section 290 of the Act;
iv. Has failed or refused to act as trustee in accordance with the provisions or covenants of the Deed or the
provisions of the Act;
v.
Is under investigation for conduct that contravenes the Trust Companies Act 1949, the Trustee Act
1949, the Companies Act 1965, or any securities law;
vi. When a receiver is appointed over the whole or substantial part of the assets or undertaking of the
existing trustee and has not ceased to act under that appointment; or
vii. A petition is presented for the winding up of the Trustee.
10.12
The Management Company and the Investment Manager are not engaged in any material litigation, claim or
arbitration, either as a plaintiff or defendant, and the Management Company and the Investment Manager
have no knowledge of any proceeding pending or threatened or of any material fact likely to give rise to any
proceeding which might materially and adversely affect their financial position or business.
105 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 11. TRUSTEE 11.1
GENERAL INFORMATION
AmanahRaya Trustees Berhad (“ART”) was incorporated under the Companies Act 1965 on 23 March 2007
and registered as a trust company under the Trust Companies Act 1949. ART is a subsidiary of
Amanah Raya Berhad (ARB) which is wholly owned by the Minister of Finance (Incorporated). ART took
over the corporate trusteeship functions of ARB and acquired ARB’s experience of more than 46 years in
trustee business. ART has been registered and approved by the SC to act as Trustee to Unit Trust Funds
and has 179 unit trust funds under its trusteeship. As at LPD, ART has 80 staff (58 Executives and 22 NonExecutives).
ART has an authorised capital of RM5,000,000. Its issued and paid-up share capital is RM2,000,000 and
RM1,000,000 respectively.
The shareholders of ART are:
11.2
% of equity
Amanah Raya Berhad (344986-V)
20
Amanah Raya Nominees (Tempatan) Sdn Bhd (434217-U)
Amanah Raya Capital Sdn Bhd (549057-K)
20
20
AmanahRaya Capital Group Sdn Bhd (760289-U)
20
AmanahRaya Modal Sdn Bhd (760322-X)
10
Amanah Raya Nominees (Asing) Sdn Bhd (684546-P)
10
FINANCIAL INFORMATION
The following is a summary of the past performance of ART based on its audited financial statements for the
last three years from 2010 to 2012:
Paid-up share capital
Shareholders’ funds
Turnover
Pre-tax profit/loss
After tax profit/loss
11.3
•
•
•
•
•
•
•
31 December 2010
(RM ‘000)
1,000
3,214
24,847
31 December 2011
(RM ‘000)
1,000
5,263
26,908
31 December 2012
(RM ‘000)
1,000
7,140
28,307
18,265
20,246
21,481
13,590
14,549
15,877
BOARD OF DIRECTORS
Datuk Idrus Bin Harun – Chairman / Independent
Tuan Haji Ab. Gani Bin Haron – Director / Independent
Tuan Haji Mansor Bin Salleh – Director / Non-Independent
Dato’ Rahim bin Abu Bakar – Director / Non-Independent
Dato’ Haji Ismail bin Ibrahim – Director / Non-Independent
Dato’ Haji Che Pee bin Samsudin – Director / Non-Independent
Tuan Haji Zulkifly Bin Sulaiman - Director / Independent
106 www.asnb.com.my
•
•
•
•
•
•
•
•
•
•
•
11.5
Hajjah Habsah Binti Bakar - Chief Executive Officer
Encik Zainudin Bin Suhaimi - General Manager
Encik Arzlee Bin Abdul Rahman – Assistant General Manager
Puan Norhaslinda Binti Samin - Company Secretary
Encik Jerry Jesudian s/o Joseph Alexander – Joint Company Secretary
Encik Azril Bin Abd Kadir – Compliance and Audit Department Senior Manager
Encik Mohd Sofian Bin Kamaruddin – Operations Department Senior Manager
Encik Mohd Aziyan Bin Abdullah – Finance and Accounts Department Manager
Puan Wan Zaleha Binti Wan Kamarul Zaman – Legal Department Manager
Puan Noor Aniza Binti Md Noor – Marketing and Business Development Department Manager
Cik Fazila Banoo Binti Manzur Elahi – Chief Executive Officer’s Office Manager
DUTIES AND OBLIGATIONS
The role of ART, as the Trustee, is to safeguard the rights and interests of the Unit holders by ensuring that
the Manager performs its duties and obligations in accordance with the Deed, the Act, the Guidelines and
other relevant laws. The Trustee acts on behalf of each Unit holder by monitoring the actions of the
Manager, and by having custodianship of the Fund through the holding of the investments of the Fund in
trust for the Unit holders.
The Trustee is responsible:
•
To act as custodian of the assets of the Fund;
•
To act with due care, skill, diligence and vigilance, and act in accordance with the Act, the Deed,
the Guidelines and securities laws in carrying out its duties and responsibilities;
•
To ensure at all times, through proper and adequate supervision, ensure that the Fund is managed
and administered by the Manager in accordance with the Act, the Deed, the Guidelines and
securities laws and acceptable and efficacious business practices within the unit trust industry;
•
To ensure that it is fully informed of the investment policies of the Fund as set by the Manager, and
of any changes made thereto;
•
To notify the SC immediately of any irregularity, any breach of the provisions of the Act, the Deed,
the Guidelines or securities laws and any other matter properly regarded by the Trustee as not
being in the interests of the Unit holders;
•
To ensure that the systems, procedures and processes employed by the Manager to value and/or
price the Fund or the units of the Fund are adequate, and that such valuation/pricing is carried out
in accordance with the Act, the Deed, the Guidelines and securities laws;
•
To ensure that the sale, repurchase, creation and cancellation of units of the Fund are carried out
in accordance with the Act, the Deed, the Guidelines and securities laws;
•
To submit or make available any statements, documents, books, records and other information
relating to the Fund and the business of the Trustee or such periodical returns, as may be required
by the SC from time to time;
•
To take all steps to effect any instructions properly given by the Manager as to the acquisition or
disposal of, or the exercise of the rights attaching to, the assets of the Fund; and
•
To maintain and ensure that the Manager maintains proper accounting records and other records
as are necessary to enable a complete and accurate view of the Fund to be formed and to ensure
that the Fund is managed and administered in accordance with the Deed of the Fund, the
guidelines and securities laws.
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RETIREMENT, REMOVAL AND REPLACEMENT
The Trustee may retire upon giving twelve (12) months notice to the Manager of its desire to do so, or such
shorter period as the Manager and the Trustee shall agree, and may by deed appoint in its stead a new
trustee approved by the SC. Pursuant to Section 299 of the Act, it is the duty of the Manager to remove the
Trustee as soon as it becomes aware that the Trustee:
•
•
•
•
Has ceased to exist;
•
Is under investigation for conduct that contravenes the Trust Companies Act, 1949, the Trustee Act,
1949, the Companies Act, 1965, or any securities laws;
•
When a receiver is appointed over the whole or a substantial part of the assets or undertaking of the
existing trustee and has not ceased to act under the appointment or a petition is presented for the
winding up of the existing Trustee (other than for the purpose of and followed by a reconstruction,
unless during or following such reconstruction the existing trustee becomes or is declared to be
insolvent).
Has not been validly appointed;
Is not eligible to be appointed or to act as Trustee under Section 290 of the Act;
Has failed or refused to act as Trustee in accordance with the provisions or covenants of the Deed or
the provisions of the Act;
The Trustee may be removed and another trustee (duly approved as aforesaid) may be appointed by a
special resolution of the Unit holders at a duly convened meeting of which notice has been given to the
Trustee and the Manager. The Manager will summon a meeting of the registered holders for the purpose of
considering and if thought fit, passing a resolution for the removal of the Trustee in the event that the Unit
holders request the Manager to do so, in the manner as stated in the Deed.
11.7
POWER OF TRUSTEE TO REMOVE OR REPLACE THE MANAGER
The Trustee of the Funds may remove and replace the Manager if the Manager has failed or neglected to
carry out its duties to the satisfaction of the Trustee, and for such other reasons desirable in the interest of
the Unit holders.
The Manager may also be removed if the Manager is in liquidation, is under receivership or ceases
operations, or has to the prejudice of the Unit holders failed to comply with any provisions of the Deed or the
Act, and other relevant laws. The Manager may also be removed if a special resolution is passed by the Unit
holders that the Manager be removed.
The appointment of the new manager is subject to the new manager entering into a deed or deeds as the
Trustee may be advised to be necessary in order to secure that the manager performs its duties as Manager
during the remainder of the period of the Fund.
11.8
STATEMENT OF RESPONSIBILITY
The Trustee consents and agrees to assume the position as Trustee of the Funds and undertakes all the
obligations in accordance with the Deeds, all relevant laws and rules of law for the benefit of the registered
Unit holders of the Funds.
11.9
As at LPD, the Trustee is not enganged in any material litigation and arbitration either as plaintiff of
defendant, and the Trustee is not aware of any proceeding, pending or threatened or of any facts likely to
give rise to any proceeding which might materially affect the business financial position of the Trustee or of
any of its delegates.
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ASNB MASTER PROSPECTUS 2013/2014 12. SALIENT TERMS OF THE DEED The Deed is a complex document and the following is a summary only. Certain salient terms of the Deed are
summarised in other sections of this Prospectus. Recipients of this Prospectus and all prospective investors of the
Units should refer to the Deed itself to confirm specific information or for a detailed understanding of the Fund. The
Deed is available for inspection at the principal place of business of the Manager at all ASNB Offices (refer to Section
18) and the principal place of business of the Trustee (refer to section 2).
12.1
RIGHTS AND LIABILITIES OF UNIT HOLDERS
Funds
Rights and Liabilities of Unit holders
ASN
Unit holders shall, inter alia have the right to attend and vote at meetings of Unit holders and
receive distributions. However no Unit holder shall be entitled to require the transfer to him of
any of the property comprised in the Fund or to interfere with or question the exercise by the
Trustee or the Manager on his behalf of the rights of the Trustees as owner of such property.
The liability of Unit holders is limited to the purchase price paid for the units. Unit holders are
not under any obligation to indemnify the Manager and/or the Trustee for liabilities incurred on
behalf of the Fund which exceeds the net asset value of the Fund, and any right of indemnity
of the Trustee and/or the Manager shall be limited to recourse to the Fund.
ASN 2
behalf of the Fund which exceeds the gross asset value of the Fund, and any right of
indemnity of the Trustee and/or the Manager shall be limited to recourse to the Fund.
ASN 3
behalf of the Fund which exceeds Net Asset Value of the Fund, and any right of indemnity of
the Trustee and/or the Manager shall be limited to recourse to the Fund.
ASG:
• ASGPendidikan
• ASGKesihatan
• ASGPersaraan
behalf of the Fund which exceeds the value of such Fund, and any right of indemnity of the
Trustee and/or the Manager shall be limited to recourse to such Fund.
109 www.asnb.com.my
Rights and Liabilities of Unit holders
ASB
receive distributions. However, no Unit holder shall be entitled to require the transfer to him of
behalf of the Fund which exceeds the Gross Asset Value of the Fund, and any right of
ASM
behalf of the Fund which exceeds the value of the Fund, and any right of indemnity of the
Trustee and/or the Manager shall be limited to recourse to the Fund.
ASW 2020
behalf of the Fund which exceeds the gross asset value of the Fund, and any right of
ASD
behalf of the Fund which exceeds the value of the Fund, and any right of indemnity of the
Trustee and/or the Manager shall be limited to recourse to the Fund.
AS 1Malaysia
Unit holders shall, inter alia have the right to attend and vote at meetings of Unit holders, to
participate in any increase in the value of the Units and receive distributions. However no Unit
holder shall be entitled to require the transfer to him of any of the investments or assets of the
Fund or to interfere with or question the exercise by the Trustee of the rights of the Trustee as
the registered owner of such investments and assets. Ownership of Units shall not confer on a
Unit holder an interest in any particular part or asset of the Fund but only in the Fund as a
whole.
The liability of Unit holders is limited to the purchase price paid for the Units. Unit holders are
not under any obligation to indemnify the Manager and/or the Trustee for losses incurred on
behalf of the Fund which exceeds the value of the assets of the Fund, and any right of
indemnity of the Manager and/or the Trustee shall be limited to recourse to the Fund.
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MAXIMUM FEES AND CHARGES PERMITTED BY THE DEED
Funds
Maximum Fees and Charges Permitted by the Deed
ASN
The Manager is permitted to charge an annual Management Fee at a rate not exceeding
1.0% of the NAV of the Fund calculated and accrued on a daily basis.
The Trustee shall be entitled to an annual Trustee Fee at a rate as may be agreed
between the Manager and the Trustee from time to time.
Details of the annual Management Fee and the Trustee Fee are set out in Section 8.2 of
this Prospectus.
A sales charge maybe imposed on the Unit holders which shall not exceed 10% of the
NAV per Unit upon purchasing of units and retained by the Manager. Details of the sales
charge are set out in Section 8.1 of this Prospectus.
ASN 2
The Trustee shall be entitled to an annual Trustee Fee of RM500,000 or 0.08% per
annum of the NAV of the Fund, whichever is lower, calculated and accrued daily.
this Prospectus.
A sales charge may be imposed on the Unit holders which shall not exceed 10% of the
ASN 3
this Prospectus.
ASG:
• ASGPendidikan
• ASGKesihatan
• ASGPersaraan
The Trustee shall be entitled to an annual Trustee Fee of RM450,000 or 0.07% per
annum of the NAV of the Fund, whichever is lower, calculated and accrued daily.
this Prospectus.
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ASB
1% per annum of the Value of the Fund calculated and accrued on a daily basis.
this Prospectus.
Currently no sales charge is imposed upon purchasing of units.
ASW 2020
this Prospectus.
Currently no sales charge is imposed upon purchasing of units.
ASM
this Prospectus.
No sales charge is imposed upon purchasing of units.
ASD
1.5% per annum of the Value of the Fund calculated and accrued on a daily basis.
this Prospectus.
No sales charge is imposed upon purchasing of units.
AS 1Malaysia
The Manager is permitted to charge an annual management fee at a rate not exceeding
1.5% per annum of the VOF, calculated and accrued on a daily basis.
The Trustee shall be entitled to an annual trustee fee not exceeding 0.08% per annum of
the VOF (before deducting management fees and trustee fees for the day) of the Fund
subject to a minimum of RM18,000 per annum, calculated and accrued daily.
Details of the annual management fee and the trustee fee are set out in Section 8.2 of
this Prospectus.
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The sales charge for AS 1Malaysia is up to 1% of the invested amount. The Manager
may reduce or waive the sales charge at its discretion.
Although the Deed allows the Manager to charge a repurchase charge in respect of
requests for repurchase of Units, the Manager presently does not impose any
repurchase charge for redemption of Units.
12.3
INCREASE IN FEES AND CHARGES FROM THE LEVEL DISCLOSED IN THE PROSPECTUS
AND THE MAXIMUM RATE PROVIDED IN THE DEED
Funds
Increase in Fees and Charges from the Level Disclosed in the Prospectus and the
Maximum Rate Provided in the Deed
ASN
The Management Fee shall not exceed the amount stated in the Deed. The Manager may
not charge an annual Management Fee at a rate higher than that disclosed in the
Prospectus unless the Manager and the Trustee have agreed on a higher rate in
accordance with the Deed. The Manager must notify Unit holders of the higher rate and the
effective date.
ASN 2
ASN 3
ASG:
ASGPendidikan
ASG-Kesihatan
ASG-Persaraan
The Trustee Fee shall not exceed the amount stated in the Deed. The Trustee may not
charge an annual Trustee Fee at a rate higher than that disclosed in the Prospectus
unless the Manager and the Trustee have agreed on a higher rate. The Manager must
notify Unit holders of the higher rate and the effective date.
The sales charge shall not exceed that as set out in the Deed. Manager may only charge
a higher sales charge than that disclosed in the Prospectus in accordance with the Deed
and all relevant laws.
ASB
ASW 2020
ASM
ASD
The Management Fee shall not exceed the amount stated in the Deed. The Manager may
not charge an annual Management Fee at a rate higher than that disclosed in the
Prospectus unless the Manager and the Trustee have agreed on a higher rate in
accordance with the Deed. The Manager must notify Unit holders of the higher rate and the
effective date.
The Trustee Fee shall not exceed the amount stated in the Deed. The Trustee may not
charge an annual Trustee Fee at a rate higher than that disclosed in the Prospectus
unless the Manager and the Trustee have agreed on a higher rate. The Manager must
notify Unit holders of the higher rate and the effective date.
AS 1Malaysia
Currently no sales charge shall be payable on the sale of any unit.
12.4
PERMITTED EXPENSES PAYABLE OUT OF THE FUNDS’ PROPERTY
Funds
Permitted Expenses Payable Out of the Funds’ Property
ASN
Only expenses which are directly related and necessary may be charged to the Fund.
These include (but not limited to) the following:
(i)
all fees authorised by this Deed to be paid out of the Fund to the Trustee and the
Manager;
(ii)
all fees and disbursements of the Auditor;
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(iii)
professional and accounting fees and disbursements approved by the Trustee;
(iv)
the costs of printing and despatching to Unit holders, the accounts of the Fund, tax
certificates, distribution warrants, notices of meeting of Registered Holders,
newspaper advertisements required by the Deed and such other similar costs as may
be approved by the Trustee;
(v)
valuation fees payable in respect of the Fund;
(vi)
duties and taxes payable in respect of the Fund;
(vii)
all expenses incurred by the Trustee in effecting registration, insurance or safe
custody of the documents of title to all investments held upon the trusts of this Deed;
and
(viii) all duties and charges and any other expenses (including interest) incurred in
negotiating, entering into, varying, carrying into effect with or without variation,
maintaining and terminating of any borrowings of the Fund.
The Trustee may accept the certificate of the Auditor as satisfactory evidence of the
amounts properly chargeable for such outgoings and expenses.
ASN 2
(i)
Manager;
(ii)
(iii)
(iv)
the cost of printing and dispatching to Unit holders, the accounts of the Fund, tax
certificates, distribution, warrants, cheques notices of meeting of Unit holders,
newspaper advertisements required by Deed and such other similar costs as may be
approved by the Trustee;
(v)
(vi)
(vii)
and
maintaining and terminating any borrowings by the Fund.
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ASN 3
(i)
Manager;
(ii)
(iii)
(iv)
certificates, distribution, warrants, notices of meeting of Unit holders, newspaper
advertisements required by Deed and such other similar costs as may be approved
by the Trustee;
(v)
(vi)
(vii) all expenses incurred by the Trustee in effecting registration, insurance or safe
and
ASG:
• ASGPendidikan
(i)
Manager;
(ii)
all fees and disbursement of the Auditor;
(iii)
(iv)
the cost of printing and despatching to Unit holders, the accounts of the Fund, tax
certificates, distribution, warrants, notices of meeting of Unit holders, newspaper
advertisements required by this Deed and such other similar costs as may be
approved by the Trustee;
• ASGKesihatan
• ASGPersaraan
(v) valuation fees payable in respect of the Fund;
(vi) duties and taxes payable in respect of the Fund; and
(vii) all expenses incurred by the Trustee in effecting registration, insurance or safe
custody of the documents of title to all investments of the Fund held upon the trusts of
this Deed.
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ASB
The Trustee shall pay out of the gross income of the Fund, in addition to the
reimbursements of the expenses of the Fund, all outgoings (including all Federal and State
Government taxes or duties) which are necessary and incidental to the investments of the
Fund and without limiting the foregoing:
(i)
rates, land tax, water rates, repairs and maintenance, insurance, electricity for
common areas and cleaning of common areas and all management fees paid to
managing agents employed by the Manager to manage any immovable property
investments;
(ii)
custody of the documents of title to all investments held upon the trusts of this
Deed;
(iii)
all duties, fees and charges and any other expenses (including interest) incurred in
maintaining and terminating any borrowings by the Fund;
(iv)
Manager;
(v)
the cost of the Auditor’s reasonable fees and expenses;
(vi)
the cost of keeping or causing to be kept proper books of account and all expenses
and disbursements relating thereto;
(vii)
all valuation fees and the costs of newspaper and other advertisements and
sending out statements of account, distribution cheques, tax certificates,
correspondence, circulars and other notices to Unit holders and others; and
(viii)
all other costs and expenses incurred in connection with the duties of the Trustee
and the Manager in the administration of the trusts of this Deed.
ASW 2020
The Trustee shall pay out of the gross income of the Fund, in addition to the
reimbursements of the expenses of the Fund, all outgoings (including all Federal and State
Government taxes and duties) which are necessary and incidental to the investments of
the Fund and without limiting the foregoing:(i)
rates, quit rents, water rates, repairs and maintenance, insurance, electricity for
common areas and cleaning of common areas and all management fees paid to
managing Agents employed by the Manager to manage any immovable property
investments;
(ii)
custody of the documents of title to all investments held upon the trusts of this
Deed;
(iii)
all duties, fees and charges and any other expenses (including interest) incurred in
maintaining and terminating any borrowings by the Fund;
(iv)
Manager;
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(v)
the cost of the Auditor’s reasonable fees and expenses;
(vi)
the cost of keeping or causing to be kept proper books of account and all expenses
and disbursements relating thereto;
(vii)
all valuation fees and the costs of newspaper and other advertisements and
sending out statements of account, distribution cheques, tax certificates,
correspondence, circulars and other notices to Unit holders and others; and
(viii)
all other costs and expenses incurred in connection with the duties of the Trustee
and the Manager in the administration of the trusts of this Deed.
ASM
(i)
Manager;
(ii)
(iii)
(iv)
certificates, distribution warrants cheques, notices of meeting of Unit holders,
newspaper advertisements required by Deed and such other similar costs as may
(v)
(vi)
(vii)
and
(viii)
all duties and charges and any other expenses (including interest) incurred in
ASD
(i)
Manager;
(ii)
(iii)
(iv)
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certificates, distribution, warrants, cheques notices of meeting of Unit holders,
newspaper advertisements required by Deed and such other similar costs as may
(v)
(vi)
(vii)
and
(viii)
all duties and charges and any other expenses (including interest) incurred in
AS 1Malaysia
These include (but are not limited to) the following:
(i)
commissions/fees paid to brokers in effecting dealings in the investments of the Fund;
(ii)
taxes and other duties;
(iii)
Auditor’s and valuer’s costs and fees;
(iv)
costs incurred for modification of the Deed or for meetings of Unit holders (save where
such modification or meeting is convened is for the benefit of the Manager and/or the
Trustee);
(v)
costs, commissions, fees and expenses for the sale, purchase, insurance and any
other dealing of any asset of the Fund;
(vi)
costs, fees and expenses incurred in engaging any specialist, valuer, or adviser for
the benefit of the Fund;
(vii) remuneration and out of pocket expenses of the independent members of the
Investment Committee; and
(viii) costs, fees and expenses incurred in connection with any change or the need to
comply with any change or introduction of any law, regulation or requirement (whether
or not having the force of law) of any governmental or regulatory authority.
The Deed provides that expenses associated with the management and administration of
the Fund, such as general overheads and costs for services expected to be provided by
the Manager, shall not be charged to the Fund. The Trustee shall ensure that all expenses
charged to the Fund are legitimate, not excessive or beyond standard commercial rates.
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REMOVAL, RETIREMENT AND REPLACEMENT OF THE MANAGER AND THE TRUSTEE
Please refer to Section 10.10 of this Prospectus (in relation to the retirement, removal and replacement of
the Manager) and Section 11.6 of this Prospectus (in relation to the retirement, removal and replacement of
the Trustee).
12.6
TERMINATION OF THE FUND
Funds
ASN
Termination of the Fund
The Fund shall commence from the date mentioned in the Deed and continue until determined
by the Trustee under the provisions in the Deed. The Trustee shall as soon as practicable after
the determination of the Fund give to each of the Unit holder notice of such determination.
The Trustee may in any of the following events determine the Fund:
a)
if the Manager shall go into liquidation (except a voluntary liquidation for the purpose of
reconstruction or amalgamation upon terms previously approved in writing by the
Trustee);
b)
if the Manager shall cease to carry on business;
c)
if a receiver is appointed of the undertaking or assets of the Manager or if an
encumbrancer shall take possession of any of their assets; or
d)
if it becomes illegal or in the reasonable opinion of the Trustee impracticable or
inadvisable to continue the Fund.
The Trustee shall comply with the provisions of the Act and if at the meeting of the Unit holders
an extraordinary resolution is passed at the meeting that the Fund be determined, determine
the Fund accordingly.
ASN 2
The Trustee shall in any of the following events determine the Fund:
a)
Trustee);
b)
if in the opinion of the Trustee the Manager has ceased to carry on business;
c)
if in the opinion of the Trustee, the Manager has to the prejudice of Unit holders failed
to comply with the provisions in the Deed.
ASN 3
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The Trustee shall inter alia in any of the following events determine the Fund:
a)
Trustee);
b)
c)
encumbrancer shall take possession of the assets of the Manager; or
d)
if it becomes in the reasonable opinion of the Trustee impracticable or inadvisable to
continue the Fund.
the Fund accordingly after obtaining from the Court an order confirming the resolution.
ASG:
• ASGPendidikan
• ASGKesihatan
• ASGPersaraan
a)
Trustee);
b)
c)
d)
continue the Fund.
ASB
a)
Trustee);
b)
c)
d)
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ASW 2020
a)
Trustee);
b)
c)
d)
the Fund.
ASM
a)
Trustee);
b)
c)
d)
continue the Fund.
the Fund after obtaining from the Court an order confirming the resolution.
ASD
a)
Trustee);
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b)
c)
d)
continue the Fund.
AS 1Malaysia
The Manager may in its absolute discretion determine the Trust hereby created and wind up
the Fund at any time. Upon the termination of the Trust by the Manager, the Trustee shall as
soon as practicable, give to each Unit holder of the Fund notice of such termination and the
Manager shall notify the existing Unit holders of the Fund in writing of the options availed to
them.
The Trustee shall in any of the following events:
(a) if the Manager has gone into liquidation, except for the purpose of reconstruction or
amalgamation upon terms previously approved in writing by the Trustee and the relevant
authorities;
(b)
if, in the opinion of the Trustee, the Manager has ceased to carry on business; or
(c)
if, in the opinion of the Trustee, the Manager has to the prejudice of Unit holders failed
to comply with the provisions of the Deed or contravened any of the provisions of any
relevant law;
Summon a meeting of Unit holders in accordance with the provisions of the Deed for the
purpose of seeking directions from the Unit holders. If at any such meeting a Special
Resolution to terminate the Trust in respect to the Fund and to wind-up the Fund is passed
by the Unit holders, the Trustee shall apply to the Court for an order confirming such Special
Resolution.
12.7
UNIT HOLDERS’ MEETING
Funds
Unit holders’ Meeting
ASN
Unless otherwise required or allowed by the relevant laws, the Manager shall, within
twenty-one (21) days of receiving an application from not less than fifty (50) or one-tenth
(1/10) in number of all the Unit holders, whichever is the less, convene a meeting of the
Unit holders. The Unit holders may apply to the Manager to summon a meeting for any
purpose.
The Trustee and the Manager may convene a Unit holders' meeting in accordance with the
Deed for any purpose.
The quorum for a meeting shall be Unit holders present in person or by proxy registered as
holding not less than one-quarter (1/4) of the Units in issue. No business shall be
transacted at any meeting unless the requisite quorum is present at the commencement of
business.
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Unless otherwise prescribed by the relevant laws, a Unit holders' meeting summoned
pursuant to the Deed shall be held not later than two (2) months after the notice was given,
at the time and place stipulated in the notice and advertisement (if any).
ASN 2
purpose.
The quorum for a meeting shall be one hundred (100) Unit holders present in person or by
proxy. No business shall be transacted at any meeting unless the requisite quorum is
present at the commencement of business.
ASN 3
(1/10) in number of all the Unit holders, whichever is less, convene a meeting of the Unit
holders. The Unit holders may apply to the Manager to summon a meeting for any
purpose.
The quorum for a meeting shall be five hundred (500) of the number of Unit holders on the
Register. No business shall be transacted at any meeting unless the requisite quorum is
ASG:
• ASGPendidikan
• ASGKesihatan
• ASGPersaraan
purpose.
pursuant to the Deed shall be held not later than two (2) months after the notice was given, at
the time and place stipulated in the notice and advertisement (if any).
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ASB
purpose.
The quorum for a meeting shall be Unit holders present in person or by proxy registered
as holding not less than one-quarter (1/4) of the units in issue. No business shall be
business.
ASW 2020
purpose.
The quorum for a meeting shall be Unit holders present in person or by proxy registered
as holding not less than one-quarter (1/4) of the Units in issue. No business shall be
business.
ASM
purpose.
The quorum for a meeting shall be five hundred (500) Unit holders present in person or by
proxy. No business shall be transacted at any meeting unless the requisite quorum is
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ASD
(1/10) in number of all the Unit holders, whichever is less, convene a meeting of the Unit
holders. The Unit holders may apply to the Manager to summon a meeting for any
purpose.
AS 1Malaysia
Unless otherwise required or allowed by the relevant laws, the Manager shall, within twenty
one (21) days of receiving an application from not less than fifty (50) or one-tenth (1/10) of
all the Unit holders, whichever is less, convene a meeting of the Unit holders. The Unit
holders may apply to the Manager to summon a meeting for any purpose.
The Trustee and the Managers may convene a Unit holders' meeting in accordance with the
The quorum required for a meeting of the Unit holders shall be one hundred (100) Unit
holders or one-half (1/2) in number of the Unit holders if the Fund has less than one
hundred (100) Unit holders standing in the Register of Unit holders at the time of the
meeting, whether present in person or by proxy, provided always that the quorum for a
meeting of the Unit holders convened for the purpose of removing the Manager and/or
Trustee shall be the aforesaid number of Unit holders who must hold in aggregate at least
seventy five per centum (75%) of the units in circulation at the time of the meeting, whether
present in person or by proxy. If the Fund has five (5) or less Unit holders, the quorum
required for a meeting of the Unit holders of the Fund shall be two (2) Unit holders, whether
present in person or by proxy; if the meeting has been convened for the purpose of
removing the Manager and/or the Trustee, the Unit holders present in person or by proxy
must hold in aggregate at least seventy five per centum (75%) of the units in circulation at the
time of the meeting.
pursuant to the Deed shall be held not later than two (2) months after the notice was given, at
the time and place stipulated in the notice and advertisement (if any).
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ASNB MASTER PROSPECTUS 2013/2014 13. RELATED PARTY TRANSACTIONS/CONFLICT OF INTEREST 13.1
EXISTING AND POTENTIAL RELATED PARTY TRANSACTIONS
PNB has been appointed as the Investment Manager of the Funds. As ASNB is a wholly-owned subsidiary
of PNB, the appointment of PNB as the Investment Manager is deemed related party transaction.
The respective Deeds of the Funds allow for the purchase and sale of authorised investments by the Funds
from and to PNB. Transactions between PNB and the Funds are permissible provided always the
transactions are for the benefits of Unit holders. There are policies and procedures in place to address
these transactions. 13.2
CONFLICT OF INTEREST
ASNB and its wholly-owned subsidiary company, AMB, are both unit trust management companies
managing unit trust funds. In addition, PNB the holding company of ASNB and the penultimate holding
company of AMB is also the holding company of PHNB a real estate investment trust management
company. In relation to the above:
13.3
i.
the following directors of ASNB are also directors of AMB namely, Tun Ahmad Sarji bin Abdul
Hamid, Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman, Tan Sri Dato’ Dr. Wan Mohd. Zahid
bin Mohd. Noordin, Tan Sri Dato’ Md. Desa bin Pachi and Dato’ Idris bin Kechot.
ii.
the following directors of ASNB are also directors of PHNB namely, Tun Ahmad Sarji bin Abdul
Hamid, Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman, Tan Sri Dato’ Seri Ainum binti
Mohamed Saaid and Dato’ Idris bin Kechot.
iii.
the following members of Investment Committee of funds managed by ASNB are also members of
investment committees of funds managed by AMB, namely, Tun Ahmad Sarji bin Abdul Hamid, Tan
Sri Dato’ Md. Desa bin Pachi and Dato’ Idris bin Kechot.
iv.
the following members of Investment Committee of funds managed by ASNB are also directors of
AMB, namely, Tun Ahmad Sarji bin Abdul Hamid, Tan Sri Dato’ Sri Hamad Kama Piah bin Che
Othman, Tan Sri Dato’ Md. Desa bin Pachi and Dato’ Idris bin Kechot and directors of PHNB,
namely, Tun Ahmad Sarji bin Abdul Hamid, Tan Sri Dato’ Sri Hamad Kama Piah bin Che’ Othman
and Dato’ Idris bin Kechot.
v.
the following members of Investment Committee of funds managed by ASNB are also directors of
PNB namely, Tun Ahmad Sarji bin Abdul Hamid, Tan Sri Dato’ Sri Hamad Kama Piah bin Che
Othman and Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah.
POLICIES ON DEALING WITH CONFLICT OF INTEREST SITUATIONS
The Manager has in place policies and procedures to deal with any conflict of interest situations. In making
an investment transaction for the Fund, the Investment Manager will not make improper use of its position in
managing the Funds to gain, directly or indirectly, any advantage or to cause detriment to the interests of
Unit holders.
As at LPD, to the best of the Manager’s knowledge, there has been no event of conflict of interest by the
Manager. Where a conflict or potential conflict of interest is identified, this must be evaluated by the
Compliance Department and disclosed to the Executive Director (“ED”) of the Manager for the next course
of action. Conflict of interest situations involving the ED will be disclosed to the Board of Directors of the
Manager for a decision on the next course of action. Directors or staff, who are in advisory positions such as
portfolio managers or staff who have access to information on transactions are not allowed to engage in
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ASNB MASTER PROSPECTUS 2013/2014 dealings on their own account. Investment Committee members who hold substantial shareholdings or
directorships in public companies shall refrain from any decision making if the Fund invests in the particular
share or stocks of such companies.
We,and the Investment Manager have formulated policies and adopted certain procedures to prevent
conflicts of interest and potential conflicts of interest situations.
These include the following:
i.
The adoption of the PNB Group’s policy on ownership of shares and stocks of limited companies by
its employees. The policy includes a requirement for all employees to submit a written declaration
of their interests in the securities of limited companies, prohibition of employees involved in share
trading on the stock market, from trading in the open market in their private capacity, except with
approval from the President and Group Chief Executive, or for the purpose of disposing shares in
quoted limited companies acquired through sources permitted by the company.
ii.
Limits set when using brokers or/and financial institutions for dealings of the investments of the unit
trust funds.
iii.
Duties for making investment decisions, raising accounting entries, and making payments are
properly segregated and carried out by different departments which are headed by separate
persons.
iv.
Investment procedures, authorised signatories and authorised limits are properly documented in
the ISO Manual of the PNB Group.
v.
The setting up of the Compliance Committee of the PNB Group, a committee of the Board of
Directors of PNB, whose duties include reviewing compliance issues, including conflicts of interest
situations.
vi.
Holding regular meetings with the Trustee to discuss issues related to the management of the unit
trust fund, including conflicts of interest situations.
vii.
The establishment of appropriate “Chinese Walls” to prevent conflict of interest situations.
In addition, as required by the Guidelines, we have appointed a Senior Compliance Officer whose duties
include monitoring and resolving conflicts of interest situations in relation to unit trust funds managed and
administered by us, and within the Management Company itself. To-date, we and the Investment Manager
are not aware of any conflict of interest situation which has arisen.
13.4
DETAILS OF ASNB’S DIRECTORS’ DIRECT AND INDIRECT INTEREST IN OTHER
CORPORATIONS CARRYING ON A SIMILAR BUSINESS
As at the LPD, ASNB’s Directors’ do not have any direct or indirect interest in other corporations carrying on
a similar business save for Tun Ahmad Sarji bin Abdul Hamid and Tan Sri Dato’ Sri Hamad Kama Piah bin
Che Othman who each hold one (1) subscriber share in PHNB the real estate investment trust manager, but
have no beneficial interest in the same.
13.5
DETAILS OF ASNB’S SUBSTANTIAL SHAREHOLDERS’ DIRECT AND INDIRECT INTEREST
IN OTHER CORPORATIONS CARRYING ON A SIMILAR BUSINESS
As at the LPD, PNB has 69.99% direct equity interest in PHNB and through ASNB holds 100% equity
interest in AMB.
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DECLARATION OF CONFLICT OF INTEREST
Messrs. Zainal Abidin & Co has confirmed that there is no conflict of interest in their capacity as legal
advisors to ASNB.
Messrs. Hanafiah Raslan & Mohamad has confirmed that there is no conflict of interest in their capacity as
reporting accountants to ASNB.
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ASNB MASTER PROSPECTUS 2013/2014 14. TAXATION OF THE FUNDS The Funds managed by us are granted an exemption from income tax under Section 127(3)(b) of the
Income Tax Act, 1967.
Funds
Taxation Status
ASB
The Fund is exempted from income tax for the year of assessment 1991 and
subsequent years.
ASN
The Funds are granted an extension on the period of exemption from income
tax for the year of assessment 2007 to the year of assessment 2016.
ASN 2
ASN 3
ASG-Pendidikan
ASG-Kesihatan
ASG-Persaraan
ASW 2020
ASM
ASD
AS 1Malaysia
The Fund is exempted from income tax for the year of assessment 2009 to the
year of assessment 2018.
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ASNB MASTER PROSPECTUS 2013/2014 15. CONSENTS 1.
The consent of the Trustee, the Auditors, the Bankers and the Solicitors to the inclusion in the
Prospectus of their names in the manner and form in which such names appear, have been given
before the issue of this Prospectus and none of them have subsequently withdrawn their written
consents.
2.
Messrs. Hanafiah Raslan & Mohamad has given and has not withdrawn their consent to the issue
of the Prospectus with the inclusion therein of their report in the form and context in which it is
included.
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ASNB MASTER PROSPECTUS 2013/2014 16. APPROVAL AND CONDITIONS 16.1
EXEMPTIONS/VARIATIONS FROM THE SC GUIDELINES
ASNB and the Funds have been given exemptions/variations from certain provisions of the Unit Trust
Guidelines, subject to certain conditions. Clauses quoted in this section are based on the current Guidelines
dated 3 March 2008 (“Guidelines 2008”). The relevant clauses from the previous Guidelines 1997 are also
stated for easy reference. Exemptions from the Clauses of both Guidelines 1997 and Guidelines 2008 were
obtained from SC through its letters dated 24 December 1997, 3 June 1998, 8 June 1999, 7 September
1999, 23 March 2001, 19 June 2001, 20 June 2001, 7 March 2003, 5 September 2008, 3 July 2009, 22 June
2011, 20 November 2012, and 31 December 2012.
No
Clause
Contents
1
Guidelines 2008: Clause 3.07
Directors
Guidelines 1997: Clause 4.4.8
A director of a management company should not:
a)
hold office as director of more than one management company
at any one time;
Exemption from this clause is extended to allow:
(i)
(ii)
Tun Ahmad Sarji bin Abdul Hamid ;
Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman;
and
(iii) Dato’ Idris bin Kechot
to remain as directors of AMB and PHNB;
(i)
Tan Sri Dato’ Dr. Wan Mohd. Zahid bin Mohd.
Noordin; and
(ii) Tan Sri Dato’ Md. Desa bin Pachi
to remain as directors of AMB; and
(i)
b)
Tan Sri Dato’ Seri Ainum binti Mohamed Saaid to
remain as director of PHNB.
hold office as member of the investment committee of funds
operated by another management company.
(i) Tun Ahmad Sarji bin Abdul Hamid ;
(ii) Tan Sri Dato’ Dr. Wan Mohd. Zahid bin Mohd.
Noordin;
(iii) Tan Sri Dato’ Md. Desa bin Pachi; and
(iv) Dato’ Idris bin Kechot
to remain as investment committee members of funds
managed by AMB; and
(i)
to remain as investment committee members of funds
managed by PHNB.
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ASNB MASTER PROSPECTUS 2013/2014 No
Clause
Contents
2
(ASB, ASW 2020, ASM, ASD
and AS1Malaysia)
Valuation and Pricing
A management company should take all reasonable steps and
exercise due diligence to ensure that the fund and the fund’s units
are correctly valued and priced, in line with the provisions of
Chapter 10 and Schedule B of these guidelines, the deed and the
prospectus.
Exemption/variation is approved until 31 December 2015, subject to
the terms and conditions of the SC.
3
(AS 1Malaysia)
Holding of Units by Management Company
The management company or its nominees should not hold any unit
Guidelines 1997: Clause 11.9.1 in the Fund, other than when complying with repurchase request
(ASN, ASB, ASW 2020, ASM,
and/or in creating new units to meet anticipated requests for units
ASD, ASN 3 and ASG)
by investors (“manager’s box”), subject to a maximum of:
a) three (3) million units, or
b) 10% of the units in circulation, whichever is lower.
These limits shall not apply to the creation of new units to meet
requests for units by investors under EPF Members’ Investment
Scheme.
Exemption given is subject to ASNB's policy of holding units being
expressed in the deed. The Securities Commission should be
informed of the limit prior to inclusion in the prospectus and deed of
the respective schemes.
4
Guidelines 2008: Clause
5.09(a)
Delegation of Function by Management Company
An officer of the delegate (whether foreign or otherwise) should not
hold office as member of the investment committee of any Fund for
which the fund manager is appointed to manage.
Exemption from this Clause is extended to Tun Ahmad Sarji bin Abdul
Hamid and Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman, to
allow them to be appointed as Investment Committee members for
ASN, ASB, ASN 2, ASM, ASD, ASN 3, ASG and AS 1Malaysia.
5
6.04(a)
& 6.04(b)
Investment Committee
A member of the investment committee should not hold office as:
a) member of the investment committee of funds managed and
administered by another management company,
(i) Tun Ahmad Sarji bin Abdul Hamid ; and
(ii) Tan Sri Dato’ Md. Desa bin Pachi;
to be appointed as Investment Committee members of funds
managed by AMB; and
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(i)
b)
to remain as Investment Committee member of funds
managed by PHNB.
director of another management company.
(i) Tun Ahmad Sarji bin Abdul Hamid ;
(ii) Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman;
and
(iii) Dato’ Idris bin Kechot
to be appointed as Directors of AMB and PHNB; and
(i)
6
(e)
Tan Sri Dato’ Md. Desa bin Pachi to be appointed as a
Director of PHNB.
A member of the investment committee should not hold office as:
e)
an officer of the delegate that carry on the fund management
function for the fund.
Exemption is extended to allow(i)
Tun Ahmad Sarji bin Abdul Hamid;
(ii)
Tan Sri Dato’ Sri Hamad Kama Piah bin Che Othman;
and
(iii)
Tan Sri Dr. Wan Abdul Aziz bin Wan Abdullah
to be directors of PNB.
Borrowings
7
8
(b)
& 8.36(c)
(AS1Malaysia)
The fund is prohibited from borrowing other assets (including
borrowing of securities within the meaning of Guidelines on
Guidelines 1997: Clause 10.9.1 Securities Borrowing and Lending) in connection with its activities.
ASD and ASN 3)
Exemption from Clause 10.9.1 is given subject to ASNB setting a
limit for each requirement and disclosing it in the prospectus of the
respective schemes.
The Securities Commission should be
informed of the limit prior to inclusion in the prospectuses. For
ASM, ASD and ASN 3, ASNB is also required to disclose the limit in
the deed of ASM, ASD and ASN 3, respectively.
The Management Company should ensure that:
b) the borrowing period should not exceed one month, and
c) the aggregate borrowings of Fund should not exceed 10% of the
Funds’ NAV at the time the borrowing is incurred.
Variation to Clause 8.36 (c) is given subject to the aggregate
borrowings not exceeding 10% of the Fund’s VOF. The limit is to be
disclosed in the Prospectus.
9
(AS1Malaysia)
Investment Limits
The fund manager should ensure that the investment limits and
restrictions set out in Schedule A of the Guidelines are complied
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with at all times based on the most up-to-date value of the fund’s
property.
Variations to Clause 8.37 and relevant Paragraphs of Schedule A
are given subject to AS 1Malaysia to set its own limit and to disclose
it in the Prospectus.
10
Guidelines 2008: Schedule A
– Para 3
(AS 1Malaysia)
Exposure Limits
The value of the fund’s investments in unlisted securities must not
exceed 10% of the fund’s NAV.
10.3.2(c)
ASD and ASN)
Investment Spread Limits
11
– Para 4
(AS 1Malaysia)
The value of the fund’s investments in ordinary shares issued by
any single issuer must not exceed 10% of the Fund’s NAV.
ASD and ASN 3)
12
– Para 5
(AS 1Malaysia)
The value of the fund’s investments in transferable securities and
money market instruments issued by any single issuer must not
exceed 15% of the fund’s NAV.
ASD and ASN 3)
13
– Para 6
and AS1Malaysia)
The value of a fund’s placement in deposits with any single
institution must not exceed 20% of the fund’s NAV.
14
– Para 7(b)
and AS1Malaysia)
For investments in derivatives, the value of the Fund’s over-thecounter (OTC) derivative transaction with any single counter-party
must not exceed 10% of the fund’s NAV.
15
– Para 8
and AS1Malaysia)
The value of a fund’s investments in structured products issued by a
single counter-party must not exceed 15% of the fund’s NAV.
16
– Para 9
and AS1Malaysia)
The aggregate value of a fund’s investments in transferable
securities, money market instruments, deposits, OTC derivatives
and structured products issued by or placed with (as the case may
be) any single issuer/institution must not exceed 25% of the fund’s
NAV.
17
– Para 10
and AS1Malaysia)
The value of a fund’s investments in units/shares of any collective
investment scheme must not exceed 20% of the fund’s NAV.
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18
– Para 11
(AS1Malaysia)
The value of the fund’s investments in transferable securities and
money market instruments issued by any group of companies must not
exceed 20% of fund’s NAV.
ASD and ASN 3)
Investment Concentration Limits
19
– Para 21
(AS1Malaysia)
The fund’s investments in transferable securities (other than
debentures) must not exceed 10% of the securities issued by any
single issuer.
ASD and ASN 3)
20
– Para 22
(AS1Malaysia)
The fund’s investments in debentures must not exceed 20% of the
debentures issued by any single issuer.
ASD and ASN 3)
21
– Para 23
(AS1Malaysia)
The fund’s investment in money market instruments must not
exceed 10% of the instruments issued by any single issuer.
ASD and ASN 3)
22
– Para 24
(AS1Malaysia)
The fund’s investments in collective investment schemes must not
exceed 25% of the units/shares in any one collective investment
scheme.
ASD and ASN 3)
Exemptions from the above clauses are given subject to ASNB setting a limit for each requirement
and disclosing it in the prospectus of the respective schemes. The Securities Commission should be
informed of the limit prior to inclusion in the respective prospectuses.
23
(AS1Malaysia)
Guidelines 1997:Clauses 8.1.4
& 8.2.5
(ASN, ASB, ASW 2020, ASM
and ASD)
Management Fee and Trustee Fee
The fees should be accrued daily and calculated based on the NAV
of the fund. The number of days in a year should be used in
calculating the accrued fees.
Variation is given for the fees to be calculated based on the VOF.
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Remuneration of Trustee
24
Guidelines 2008: Clauses
9.14 (a) & 9.14(b)
ASD, ASN 3 and ASG)
25
9.08 & 9.14(c)
(AS 1Malaysia)
ASD, ASN 3 and ASG)
The trustee fee should be reasonable, consideringa) the roles, duties and responsibilities of the trustee;
b) the interest of unit holders.
The fees may only be charged to the fund if permitted by the deed
and clearly disclosed in the prospectus.
The trustee fee should be reasonable, considering the maximum
rate stipulated in the deed.
For ASN, ASB and ASW 2020, exemptions to the above clauses are given subject to the basis of
computation of the management fee and the trustee’s fee being disclosed in the deed and prospectus
of the respective schemes. The annual trustee’s fee agreed upon for the year should also be
disclosed in the prospectus.
For ASM, ASD, ASN 3 and ASG, exemptions from the above clauses are given subject to the annual
trustee’s fee agreed upon for the year be disclosed in the prospectus.
Creation and Cancellation of Units
26
10.06
(AS 1Malaysia)
A trustee should create or cancel units immediately on receipt of,
and in accordance with, the instructions given by the management
company and only for cash.
Guidelines 1997: Clause 11.2.4 Variation given to allow the Trustee to create or cancel units for
cash or investment or both.
ASD, ASN 3 and ASG)
27
10.13
(ASN, ASB, ASW 2020, ASN
2, ASM, ASD, ASN 3, ASG and
AS1Malaysia)
The creation and cancellation of units should be at NAV per unit of
the fund as at the next valuation point after an instruction from the
management company is received by the trustee.
Exemption/variation is approved until 31 December 2015, subject to
the terms and conditions of the SC.
Loan Financing in the Sale of Units
28
10.22
(AS 1Malaysia)
The management company should ensure that the margin of
finance for loans in the sale of units does not exceed 67% of the
amount invested.
ASD, ASN 3 and ASG)
Valuation
29
10.31 and Schedule B
and AS 1Malaysia)
To determine the fund’s NAV per unit, a fair and accurate valuation
of all assets and liabilities of the Fund should be conducted.
Valuations should be based on a process which is consistently
applied and leads to objective and independently variable valuation.
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11.10.4
30
10.32
and AS 1Malaysia)
The valuation points for a fund must be at least once every
business day.
11.10.1
31
10.36
and AS 1Malaysia)
Upon completion of a valuation, the trustee should be immediately
notified of the NAV per unit of the fund.
11.11.1
Exemptions/variations are approved until 31 December 2015, subject to the terms and conditions of
the SC.
Price of a Unit
32
10.37
and AS 1Malaysia)
The price of a fund’s unit should be the NAV per unit of the Fund.
33
10.38
and AS 1Malaysia)
Any dealing in units of the fund should at a price that is the NAV per
unit of the fund as at the next valuation point after the request for
sale of repurchase of units is received by the management
company (forward price).
11.5.3 & 11.7.5
Exemptions/variations are approved until 31 December 2015, subject to the terms and conditions of
the SC.
34
10.39
11.7.5 & 11.7.6
2, ASM, ASD, ASN 3 and
ASG)
35
Although forward pricing is preferred, the price of a unit may be the
NAV per unit of the fund as at the valuation point immediately
before the request for sale or repurchase of units is received by the
management company (historic pricing).
10.41
Where historic pricing is used, the management company should
have an additional valuation point during the mid-day of business
and reprice the units where it differs by more than 5% from the last
Guidelines 1997: Clause 11.5.4 valuation point (“material market movement”).
ASG)
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Publication of Price of a Unit
36
10.51
11.12.1
(ASB, ASW 2020, ASM and
ASD)
37
10.52
For units available for sale in Malaysia, a management company
should publish the price of those units daily in at least one national
Bahasa Malaysia newspaper and one national English newspaper.
(Amended on 1 June 2010)
The unit price published should be the latest price per unit
calculated for the day, before the relevant newspaper ceases to
accept material for publication in the next edition.
11.12.2
ASD)
Cooling-off right
38
11.09
(AS 1Malaysia)
A cooling-off right should be given to an investor who is investing in
any unit trust fund managed by a particular management company
for the first time.
14.1.1 - 14.1.3
(ASB, ASW 2020, ASN 2,
ASM, ASD, ASN 3 and ASG)
39
11.12
The refund for every unit held by the investor pursuant to the
exercise of a cooling-off right should be the sum of-
Guidelines 1997: Clause 14.1.4 a) the price of a unit on the day the units were purchased; and
b) the charges imposed on the day the units were purchased
ASG)
Exemption was sought because transactions of unit trusts of ASNB are done “on-the-spot”.
Distribution of income
40
11.18(b)
(AS 1Malaysia)
41
11.19
Where distribution is made, the management company should send
to every Unit holder a statement detailing the nature (whether in the
form of cash or units in lieu of cash) and the amount of income
distributed. The statement should include the NAV per unit prior to,
Guidelines 1997: Clause 14.2.2 and subsequent to, the distribution.
ASD)
Exemption is sought from having to state NAV per unit prior to and
subsequent to the distribution and the effects of the distribution on
the selling and repurchase price since prices is fixed at RM1.00 a
unit.
For interim distribution of funds where units are available for sale in
Malaysia, a management company may, instead of sending a
statement required under clause 11.18, choose to publish the same
Guidelines 1997: Clause 14.2.3 information in an advertisement in at least one national Bahasa
Malaysia newspaper and one national English newspaper.
ASD)
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Exemption is sought because funds of ASNB have no interim
distributions.
42
12.06
(AS 1Malaysia)
12.1.6
ASD)
Content of Fund Report
The minimum information to be included in the annual or interim
reports of the scheme is stipulated under Schedule VI.
ASB and ASW 2020 are exempted from disclosing the following
information in their reports:
(a) performance analysis using unit prices.
(b) effect of income distribution and additional distribution on NAV.
(c) statement of assets and liabilities.
(d) statement of changes in NAV.
(e) total NAV.
(f) NAV per unit and the number of units in circulation.
(g) the composition of the investment portfolio showing the quantity
held, the cost of investment, the market value of each holding
as a percentage of net asset value.
ASB and ASW 2020, however, should disclose the following
information:
(a) the list of 20 largest investment in terms of total market value
as a percentage of total market value of the fund.
(b) asset allocation by sector based on market value as a
percentage of total market value of the fund.
ASM are exempted from disclosing the following information in their
reports:
(a) performance analysis using unit prices.
(b) effect of income distribution and additional distribution on NAV.
(c) statement of assets and liabilities.
(d) statement of changes in NAV.
(e) total NAV.
(f) NAV per unit and the number of units in circulation.
(g) selling price and repurchase price for units.
(h) total return in terms of capital growth and income distribution.
(i)
the composition of the investment portfolio showing the quantity
held, the cost of investment, the market value of each holding as
a percentage of net asset value.
(j) management expenses ratio (MER).
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(k) portfolio turnover ratio (PTR).
ASM is required to disclose the following information:
(a) units in circulation.
(b) cost of each investment (from investment portfolio) as
percentage of total cost of fund.
(c) market value of each investment as percentage of total market
value of the fund.
(d) statement that the calculation of MER and PTR do not follow the
method recommended by the Securities Commission, and thus
may not be an accurate comparison with the MER and PTR of
other unit trust funds.
ASD is exempted from disclosing the following in its reports:
(a) the selling price for units.
(b) the repurchase price for units.
(c) the highest / lowest selling and repurchase price.
(d) the total return of scheme in terms of the breakdown into capital
growth and income distribution (ASD, however, is required to
disclose the “total return amount” in the reports).
(e) management expense ratio (MER).
(f) portfolio turnover ratio (PTR).
For (e) and (f), ASD is required to disclose the statement that the
calculation of MER and PTR do not follow the method
recommended by the Securities Commission, and thus may not be
an accurate comparison with the MER and PTR of other unit trust
funds.
The minimum and detailed information to be included in the fund’s
reports are stipulated in Schedule D of these Guidelines.
AS1Malaysia is exempted from disclosing the following information
in the report :
a) NAV of the Fund
b) NAV per unit
c) Highest/lowest NAV
d) Total return of the Fund, and break down into capital growth and
income distribution
e) Effect of income distribution and additional distribution in terms
of NAV per unit before and after distribution
f)
Analysis on Fund’s performance based on NAV per unit
g) NAV per unit before and after unit split exercise
h) Statement of Balance Sheet
i)
Statement of Changes in NAV
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However, AS 1Malaysia is required to disclose the following
information:
a) Units in circulation
b) Total return on the Fund based on income distribution
c) Cost of each investment (from investment portfolio) as
percentage of total cost of Fund
d) Market value of each investment as percentage of total market
value of the Fund
43
12.07(a) & 12.07(c)
and AS 1Malaysia)
Publication of Report
a)
Prepare and publish the annual and interim reports of the fund
12.1.1 – 12.1.3 -
c)
Send the interim report without charge to Unit holders
The management company should:
within two months after the end of the financial period of the report
covers.
Exemptions/variations are approved until 31 December 2015,
subject to the terms and conditions of the SC.
16.2
SPECIFICATION FROM SECURITIES COMMISSION TO THE FIXED-PRICED FUNDS ON THE
APPLICATION OF MFRS
The introduction of MFRS requires the Funds to apply NAV in its valuation bases and processes. The SC
has specified that the Fixed-Priced Unit Trust Funds are permitted but not required to comply with MFRS
139 and MFRS 7 for the financial years ending 31 December 2012 until 31 December 2015, subject to terms
and conditions imposed by SC.
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ASNB MASTER PROSPECTUS 2013/2014 17. DOCUMENTS AVAILABLE FOR INSPECTION ASNB and the Trustee, shall make available, the following documents or copies thereof, where applicable,
which may be inspected without charge during a period of not less than 12 months during normal business
hours at the registered office of the Management Company or such other place as the SC may determine:
1.
The Deed of the Funds.
2.
Material contracts or documents referred to in the Prospectus, if any.
3.
Latest annual and interim reports of the Funds unless exempted by SC guidelines.
4.
All reports, letters or other documents, valuations and statements by any expert, any part of which is
extracted or referred to in the Prospectus.
5.
Our audited financial statements and the audited financial statements of the Funds for the last 3
financial years, preceding the date of Prospectus.
6.
Our latest audited financial statements and the latest audited financial statements of the Funds for the
current financial year (where applicable); and
7.
Consents given by experts or persons whose statement appear in the Prospectus.
142 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 18. DIRECTORY 18.1
ASNB OFFICES
KUALA LUMPUR
Kaunter Utama ASNB
Tingkat 1, Balai PNB
50400 Kuala Lumpur
Tel: 03-2050 5500
Fax: 03-2161 8852
SELANGOR
Lot 2-1 & 2-2
Pusat Dagangan UMNO Shah Alam
Persiaran Damai Seksyen 11
40000 Shah Alam
Selangor
Tel: 03-5512 1366/5510 8100
Fax: 03-5513 7155
PUTRAJAYA
Lot 27, Kompleks Perbadanan Putrajaya
Presint 3
62675 Putrajaya
Selangor
Tel : 03-8890 4880/4885
Fax : 03-8890 4890
No.7 Jalan Medan Niaga 2
Medan Niaga Kuala Selangor
45000 Kuala Selangor
Selangor
Tel: 03-3281 4121/03-3289 4121/3121
Fax: 03-32813221
PERLIS
Lot 7, Jalan Indera Kayangan
01000 Kangar
Perlis
Tel: 04- 978 1110/978 1111/977 5702
Fax: 04-976 0800
KEDAH
27, Kompleks Shahab Perdana
Jalan Sultanah Sambungan
05250 Alor Setar
Kedah
Tel: 04-731 0770/731 1012/733 4603
Fax: 04-731 4140
NEGERI SEMBILAN
Amanah Saham Nasional Bhd
36, Jalan Tunku Hassan
70000 Seremban
Negeri Sembilan
Tel: 06-762 8451/763 8443
Fax: 06-763 3384
JOHOR
49, Bangunan Tabung Haji, Jalan Segget
80000 Johor Bahru
Johor
Tel: 07-224 0077/223 9699
Fax: 07-223 2533
KELANTAN
2983-V, Jalan Parit Dalam
15000 Kota Bharu
Kelantan
Tel: 09-741 9900/741 9909
Fax: 09-744 6663
No.12 Jalan Maju
83000 Batu Pahat
Johor
Tel: 07-4331 709/700/701
Fax: 07-4331 712
Lot PT601, Jalan Che Yem
16800 Pasir Puteh
Kelantan
Tel: 09-78505750/785 5751
Fax: 09-785 5757
143 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 PAHANG
No. 71& 73, Tingkat Bawah
Jalan Tun Ismail
25000 Kuantan
Pahang
Tel: 09-517 8340/517 8341
Fax: 09-513 6694
TERENGGANU
No 15, Jalan Batas Baru
20300 Kuala Terengganu
Terengganu
Tel: 09-630 1500/630 1501
Fax: 09-630 1506
No.8, Jalan Ahmad Shah
Bandar Seri Semantan
28000 Temerloh,
Pahang
Tel: 09-290 1460/290 1462
Fax: 09-513 6694
MELAKA
No. 11 & 13, Kompleks Perniagaan Al Azim
Jalan KPAA 1, Bukit Baru
75150 Melaka
Tel: 06-282 7361/284 0690
Fax: 06-283 9940
PULAU PINANG
No.12, Jalan Todah 3,
Pusat Bandar Seberang Jaya
13700 Seberang Jaya
Pulau Pinang
Tel: 04-399 4378/399 4381
Fax: 04-399 4404
PERAK
No.8 & 8A, Persiaran Greentown 1
Greentown Business Centre
30450 Ipoh
Perak
Tel: 05-255 5500/255 5505
Fax: 05-255 5506
A-12A-1 dan A-12A-2
Lorong Bayan Indah 4
11900 Bayan Lepas
Pulau Pinang
Tel: 04-640 6522/640 6523
Fax: 04-640 6520
No. 273 Jalan Intan 12
Bandar Baru Teluk Intan
36000 Teluk Intan
Perak
Tel: 05-621 5153/5158/5161
Fax: 05-621 5150
SABAH
Tingkat Bawah & 1, Blok G Lot 55
Asiacity Phase 1B
Peti Surat 12149
88000 Kota Kinabalu
Sabah
Tel: 088-257 725/241 011
Fax: 088-218 814
SARAWAK
Lot 886 & 887, Block 9
MCLD Miri Waterfront
Commercial Centre
98000 Miri
Sarawak
Tel: 085-423 746/419 984
Fax: 085-423 384
TB 4287 & TB 4280
Tingkat Bawah & 1 Town Ext II
Jalan Masjid Kompleks Fajar
91000 Tawau
Sabah
Tel: 089-779 389/779 390/779 391
Fax: 089-776 600
4C, Ground Floor
Lot 832 Jalan Sabu
95000 Sri Aman
Sarawak
Tel: 083-321 742
Fax: 083-323 233
144 www.asnb.com.my
ASNB MASTER PROSPECTUS 2013/2014 SABAH (Cont’)
SARAWAK (Cont’)
Lot 15, Tingkat Bawah
Bandar Pasaraya Fasa 1
90000 Sandakan, Sabah
Tel: 089-210486/223530
Fax: 089-210597
Lot 1007 & 1008
Jalan Kampung Nyabor
96000 Sibu
Sarawak
Tel: 084-314 967
Fax: 084-322 497
Lot 6, Blok C
Sedco Shophouse
89008 Keningau
Sabah
Tel: 087-336 629/618/621/616
Fax: 087-336 619
No. 58, Lot 2326
BDA/Shahida Commercial Centre
97008 Bintulu, Sarawak
Tel: 086-317 461/468
Fax: 086-317 485
Tingkat Bawah Lot 499
Al-Idrus Commercial Centre
Seksyen 6 Jalan Kulas
93400 Kuching
Sarawak
Tel: 082-250 389/ 410 210
Fax: 082-250 313
18.2
CUSTOMER AND AGENT RELATIONS DEPARTMENT
Jabatan Perhubungan Pelanggan & Ejen
UG, Balai PNB
50400 Kuala Lumpur
Hotline : 03-2057 3000
Fax
: 03-2050 5220
Website : www.asnb.com.my
Email
: [email protected]
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ASNB MASTER PROSPECTUS 2013/2014 19. LIST OF AGENTS MALAYAN BANKING BERHAD
-
404 BRANCHES
MAYBANK ISLAMIC BERHAD
-
24 BRANCHES
RHB BANK BERHAD
-
195 BRANCHES
CIMB BANK BERHAD
-
320 BRANCHES
POS MALAYSIA BERHAD
-
725 BRANCHES
AFFIN BANK BERHAD
-
1 BRANCH
BANK SIMPANAN NASIONAL
-
2 BRANCHES
Note:
The services provided by the agents are subject to their terms and conditions, and the
Fund/Funds/services offered may differ from time to time as approved by the Manager.
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ASNB MASTER PROSPECTUS 2013/2014 20. APPLICATION FORMS AND LOAN FINANCING RISK DISCLOSURE STATEMENT The application forms for investment in ASN, ASN 2, ASN 3, ASG, ASB, ASW 2020, ASM, ASD
and AS 1Malaysia and the loan financing risk disclosure statement are enclosed.
147