KUALA LUMPUR: Permodalan Nasional Bhd (PNB) said its Assets Under Management (AUM) have breached the RM300 billion mark for the first time, hitting RM301.4 billion.
The fund management company also declared an income distribution for Amanah Saham Bumiputera 3-Didik (ASB 3 Didik) and ASN Equity 2 of 5.25 sen per unit and 2.80 sen per unit, respectively.
The total income distribution payout for these funds amounts to RM367 million, bringing total overall distribution to RM189.3 billion for all 14 funds, said PNB Group chairman Zeti Aziz, when announcing PNB’s 2019 first half progress update and income distribution at its headquarters here today.
“PNB recorded an increase of 7% year-on-year in total Assets Under Management, breaching the RM300 billion mark for the first time, to RM301.4 billion,” Zeti said.
At the same time, she said the number of account holders had grown by 5.2% to reach 14.1 million.
Despite the challenging market environment, PNB’s consolidated coterminous proforma net income was only marginally lower by 1.4% to RM5.3 billion for the year to date as at May 31, she said.
“The first half of 2019 has continued to be a highly challenging environment for all investment institutions given global and domestic developments. Despite this, we are pleased to be able to sustain returns and growth in our AUM,” Zeti said.
She said the company’s diversification strategy will be accelerated across asset classes in order to optimise returns and minimise risk exposure, going forward.
PNB’s diversification strategy has resulted in higher fixed-income and global assets allocation of 7.4% and 4.9% as at end-May 2019, respectively, from 5.8% and 2.4% in 2017.
She said that although the prevailing market environment has been reflected in the income distribution levels, “PNB continues to navigate the short-term volatility with unwavering focus on medium- and longer-term fundamentals”.
“We will continue to invest consistently and not allow short-term volatility to obscure potential returns over the longer term,” she said.
Zeti also said that PNB’s real estate portfolio locally and internationally currently stands at RM8 billion, with a landbank of 3,642ha.