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  #5611  
Old 26-12-2017, 06:08 PM
fauziaw69 fauziaw69 is offline
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En. Ahmad, The figure that u have provided was the return from 2nd jan to 20th Dec each year. The increase or decrease depend entirely on the market movement. Even if it is negative ASN still declare dividend. As along the year the fund manager traded their holding. In doing so they could make profit or loses from the trading. The revenue from the trading plus the revenue from the invested company profit and money market determine the total income of ASN for the year to be distributed as per amount determine by PNB Management. As I mentioned in my earlier posting, company profit or dividend and money market is only about 40% of the total revenue. Equity gave the biggest portion. Now if the fund manager flop in the equity trading surely they could not generate a bigger revenue even if the market is good as mentioned by Mr. Waheed. So again here I am reiterating my statement that the ASN 2017 financial performance is one of the worst.
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  #5612  
Old 27-12-2017, 12:19 AM
mustaffaisk mustaffaisk is offline
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Like this easier la..layman terms
If the fund is more profitable higher div(income distribution whatever la) will be declared...
If Asn can give 10% dividend constantly every year how much the nav...of course more than Rm 1.00kan, so if asn can give 20% dividend nav at least Rm2.00 kan......if the dividend 3.65?
Can claim la the growth 15% or whatever, the truth is fund not as profitable as when higher div declared.
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  #5613  
Old 27-12-2017, 07:00 AM
fauziaw69 fauziaw69 is offline
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I do not know how PNB operate their fund management. Normally a fund company will at the early of the year set target for their fund dividend. And this target is set based on previous years dividend and the different if there is any will be based on the forecast of malaysia and world economic growth. The different would not be much, say last year the dividend is 5 cent. So due to a better economic climate, it is set at 5.5 cent. Now each sector, ie equity,invested company dividend,forex and other fixed income will have their portion in the 5.5cent. Let assumed, the equity portion is 3cent ( based on previous year result)so the management will set a kpi of say 3.1cent or 3.2 cent for the fund manager to achieve ( normally the portion from other sector does not change that much). So looking back at ASN result, the total 3.6 cent distribution for 2017 is a far cry from the presiding year of 5 cent. I personally believe, the fund management has failed to achieve their kpi. unless the fund management declare that they have failed to achieve their target I hope this 3.6 cent is not a new baseline for next year dividend?

Last edited by fauziaw69; 27-12-2017 at 07:16 AM..
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  #5614  
Old 27-12-2017, 10:55 AM
fauziaw69 fauziaw69 is offline
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2011: 3.28%

2012: 11.42%

2013: 10.66%

2014: -7.19%

2015: -5.70%

2016: 4.46%

2017: 14.45%

What you have quoted is only the capital gain, this is an unrealized gain and investor could only benefit this gain if they liquidate their position. Generally ASN investor would not want it, as the entrance fees of 5% & GST is consider high. They would want a reasonably capital appreciation & a modest dividend ( realized gain). Maintain their position and make some money.
You could never know, this year 2018 the market could turn south, the capital gain of 14% the some of you are proud of could easily turn negative. Would PNB declare a distribution of 3.6 cent again or less? and then you will have no convincing reason to justify the performance.
Why we put our leg in this fund is to gain the best of both worlds, but we are realizing that the dividend gain is being eroded
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  #5615  
Old 27-12-2017, 01:28 PM
-Ahmad87- -Ahmad87- is offline
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Quote:
Originally Posted by fauziaw69 View Post
2011: 3.28%

2012: 11.42%

2013: 10.66%

2014: -7.19%

2015: -5.70%

2016: 4.46%

2017: 14.45%

What you have quoted is only the capital gain, this is an unrealized gain and investor could only benefit this gain if they liquidate their position. Generally ASN investor would not want it, as the entrance fees of 5% & GST is consider high. They would want a reasonably capital appreciation & a modest dividend ( realized gain). Maintain their position and make some money.
You could never know, this year 2018 the market could turn south, the capital gain of 14% the some of you are proud of could easily turn negative. Would PNB declare a distribution of 3.6 cent again or less? and then you will have no convincing reason to justify the performance.
Why we put our leg in this fund is to gain the best of both worlds, but we are realizing that the dividend gain is being eroded
Fuhh, so much misunderstanding about unit trust. All capital gains, dividends, interests, bonuses gains by the unit trust are translated into NAV. That is why it is called net asset value. All assets value divided by the total number of units available, then you will get a unit price. No such thing, trading profit will be delivered as dividend, capital gain will be matched by NAV price.

Anyway, if 2018 market go south, how do the investor lock their profit? As far as I know, the distribution is re-invested, not paid by cash.
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  #5616  
Old 27-12-2017, 01:30 PM
-Ahmad87- -Ahmad87- is offline
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Quote:
Originally Posted by mustaffaisk View Post
Like this easier la..layman terms
If the fund is more profitable higher div(income distribution whatever la) will be declared...
If Asn can give 10% dividend constantly every year how much the nav...of course more than Rm 1.00kan, so if asn can give 20% dividend nav at least Rm2.00 kan......if the dividend 3.65?
Can claim la the growth 15% or whatever, the truth is fund not as profitable as when higher div declared.
Could you tell me any private unit trust fund (local market) that is/are doing better compared to ASN?
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  #5617  
Old 27-12-2017, 03:38 PM
fauziaw69 fauziaw69 is offline
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Novagni gave a 3 star rating to ASN as of Sept 2017 and it peer rating stand at 24 out of 74. I would imagine the fourth quarter result would be worst.

Last edited by fauziaw69; 27-12-2017 at 03:42 PM..
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  #5618  
Old 27-12-2017, 10:19 PM
mustaffaisk mustaffaisk is offline
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Quote:
Originally Posted by -Ahmad87- View Post
Could you tell me any private unit trust fund (local market) that is/are doing better compared to ASN?
Why only local market when theres opportunity somewhere else?
Cimb Islamic Asia Pacific equity fund, Eastspring investment dinasti equity fund
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  #5619  
Old 27-12-2017, 11:22 PM
-Ahmad87- -Ahmad87- is offline
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Quote:
Originally Posted by mustaffaisk View Post
Why only local market when theres opportunity somewhere else?
Cimb Islamic Asia Pacific equity fund, Eastspring investment dinasti equity fund
I'm asking for local equity market fund because, if you want to compare it apple-to-apple with ASN it is better to compare within the same geographical area and sector.

But never mind, since you have mentioned CIMB Asia Pacific Equity Fund and Eastspring Investments Dinasti Equity Fund, I just want to state the facts of both funds and also ASN.

CIMB Islamic Asia Pacific Equity Fund (I assumed the one which is Islamic)
--------------------------------------
YTD return: 23.56% (since 1st Jan till 27 Dec 2017)
Income Distribution: RM0.045 per unit (5.70%)(Ex-date 27 Mar 2017)<-The only distribution since inception-Inception 2 Jun 2006
Price on 27 Mar 2017: RM0.7898
Price on 28 Mar 2017: RM0.7477 (-RM0.0421 compared to before distribution)


Eastspring Investments Dinasti Equity Fund
-----------------------------------------
YTD return: 34.38% (since 1st Jan till 27 Dec 2017)
Income Distribution: RM0.0692 per unit (4.04%)(Ex-date 23 Jun 2017)
Price on 23 Jun 2017: RM1.7148


Amanah Saham Nasional
---------------------
2017 Return: 14.45%
Income distribution: RM0.0365 per unit (4.8%)
Price on 19 Dec 2017: RM0.7596

You may counter-check above facts. My questions are:
1. CIMB Islamic Asia Pacific Fund is growing fast since 2012. It recorded total returns of 14.23% (2012), 5.79% (2013), 10.25% (2014), 14.87% (2015), 0.47% (2016). If profitable fund is translated into income distribution, why does this fund only announced its first distribution in 2017?

2. Eastspring Investments Dinasti Equity Fund is also an excellent fund. Its total return since 2013; 10.43% (2013), 4.09% (2014), 19.01% (2015), 9.85% (2016). However, since inception on 26 Oct 2009, it had only TWO income distribution. First is in 2016, Second is in 2017. Both yield 4.04%. What happen to Eastspring Fund Manager claiming total return of 10.43% in 2013 but got no distribution? What happen to fund manager's claim of total return of 9.85% in 2016, but only distribute 4.04% distribution?

3. Do you know that, Eastspring Investments Dinasti Equity Fund just exercised unit split 2:1 on last 20 Dec 2017. Latest price RM0.6365 (26 Dec 2017). What happen to those who bought this fund on 23 Jun 2017 at price of RM1.7148? <-I'm asking since somebody questioning what happen to ASN investor who bought the fund at RM0.80 and above, since they can't make profit due to the fund price never exceed RM1.000.
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  #5620  
Old 30-12-2017, 12:49 PM
fauziaw69 fauziaw69 is offline
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TAHUN DIVIDEN(sen seunit)
1999 - 8.25
2000 - 8.0
2001 - 5.0
2002 - 5.0
2003 - 5.3
2004 - 5.6
2005 - 5.5
2006 - 5.5
2007 - 6.25
2008 - 5.5
2009 - 5.2
2010 - 6.0
2011 - 6.05
2012 - 6.30
2017 - 3.6
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