TAKEN FROM THE STAR 20/040/09
JOHOR BARU: The net inflow of money into unit trusts has been healthy despite the current global uncertainties with RM5bil invested in Permodalan Nasional Berhad (PNB) related funds as of this year.
Prime Minister Datuk Seri Najib Tun Razak said this was in stark contrast to the scenario during the 1998 financial crisis, which saw withdrawals of almost RM1bil every month from unit trust schemes.
“That was a very worrying period for the country and we learnt many useful lessons from that crisis.
“However the same phenomenon has not occurred this time as there have not been withdrawals from unit trust schemes,” he said.
Najib, who described it as an encouraging achievement, said that PNB enjoyed a net inflow of more than RM10bil into its funds last year, something the country could be proud of, considering the economic uncertainties.
He was speaking at the launch of Amanah Saham Malaysia Week here Monday.
He also announced additional units for two PNB-managed funds including an additional 2.22 billion units for Amanah Saham Malaysia beginning Tuesday, and two billion units of Amanah Saham Wawasan 2020 from April 27.
The maximum allowed per investor is 20,000 units, he said.
Najib said that PNB had a total of 9.3 million unit holders, with a total investment of RM87bil.
He also noted that PNB’s investment strength in a wide range of strategic sectors opened up and created job opportunities on a large scale.
“PNB can be depended upon to provide job opportunities for our unemployed graduates,” he said, adding that PNB had to date employed 100,000 people in and outside the country.
The Prime Minister also advised the rakyat (people) to invest their savings wisely and avoid getting fooled by get-rich-quick schemes, as that would lead them to financial ruin.
He said it was important that the public be financially savvy and wary of schemes that promised them instant riches.
“Even developed countries like the United States have not escaped such schemes with millionaire financier Bernard Madoff duping even the rich and educated through pyramid schemes,” he noted.
Najib pointed out that individuals like Madoff would always be around to take advantage of those who were careless and greedy.
He instead urged the people to trust safe, government-backed investments to ensure their future was protected.
Najib also praised PNB chairman Tun Ahmad Sarji Abdul Hamid who in his speech outlined the five Key Performance Indicators (KPIs) PNB would use, as he said the rakyat were no longer content with slogans and rhetoric, but wanted quantifiable achievements.
Ahmad Sarji had said that the five KPIs included measuring the number of shareholders, dividend yield at competitive rates, increase in bumiputera wealth, increase in bumiputera property through unit trust property activity, and investment by non-bumiputeras in selected unit trusts.
He also said the company had invested in 281 companies, of which 230 were listed on Bursa Malaysia in various sectors.
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