ASB and ASN are for Bumiputera, while ASM is open to all Malaysians aged 18 and above. ASB and ASM units cost RM1 with no sales charge; ASN's price moves with its NAV and carries a sales charge of up to 5%. As of October 2026, the latest payouts are as follows: ASB 5.75 sen (2025), ASM 5.00 sen (to 31 March 2026), ASN 1.81 sen (2025).
Unit trusts are a popular investment vehicle in Malaysia, enabling individuals to pool their resources into a diversified portfolio managed by professional fund managers. This collective approach allows investors to access a wide range of assets, including equities, bonds, and properties, thereby spreading risk and potentially enhancing returns.
Established on 22 May 1979, Amanah Saham Nasional Berhad (ASNB) is a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB) and serves as one of the leading unit trust management companies in the country. With over four decades of experience, ASNB manages 18 funds, boasting a total value of RM276.48 billion as of 31 December 2023.
Among its offerings are prominent unit trust schemes such as Amanah Saham Bumiputera (ASB), Amanah Saham Malaysia (ASM), and Amanah Saham Nasional (ASN), each tailored to meet diverse financial objectives and investor profiles.
What are the differences between ASB, ASM and ASN?
The main differences are who can invest, how the price works and how much you can put in. ASB and ASM are fixed-price funds at RM1 per unit with no sales charge. ASN is a variable-price equity fund, so its unit price moves daily and you pay a sales charge. Details below are from ASNB's product pages, checked 15 October 2026.
| Category | ASB | ASM | ASN |
|---|---|---|---|
| Who can invest | Bumiputera, aged 18 and above. Also Malaysian citizens aged 18+ of Siamese/Thai or Portuguese/Eurasian descent, and non-Bumiputera Muslim converts | All Malaysian citizens aged 18 and above | Bumiputera, aged 18 and above |
| Price per unit | Fixed at RM1.00 | Fixed at RM1.00 | Variable, based on net asset value (NAV) per unit |
| Fund category (ASNB) | Income, mixed asset | Income, mixed asset | Growth, equity |
| Maximum investment | 300,000 units (Akaun Dewasa and Akaun Remaja). Can exceed this through reinvested distributions or inheritance | Unlimited, subject to availability of units | Unlimited |
| Minimum investment | RM10 first, RM1 after | RM10 first, RM1 after | RM10 first, RM1 after |
| Sales charge | None | None | Up to 5% of NAV over the counter; 2.0% online |
| Withdrawal (repurchase) | On the spot, no charge | On the spot, no charge | Within 7 business days, no charge |
| EPF Members Investment Scheme | Not available | Not available | Not available |
| Financial year-end | 31 December | 31 March | 31 December |
| Latest distribution | 5.75 sen per unit for FY2025 (5.20 distribution + 0.55 bonus), announced 19 Dec 2025 | 5.00 sen per unit for FY ended 31 Mar 2026, announced 27 Mar 2026 | 1.81 sen per unit (net) for FY2025; total return -0.14% |
| Price risk | Unit price stays at RM1. Distributions are at ASNB's discretion and not guaranteed | Unit price stays at RM1. Distributions are at ASNB's discretion and not guaranteed | Unit price can fall or rise. ASNB rated 3-year volatility "Moderate" as at 31 Aug 2026 |
| Shariah status | ASNB funds were reported to have received a "harus" (permissible) fatwa from state religious councils in 2017. | As ASB | As ASB |
Past distributions are not a guide to future ones. For full histories and how to buy, see our ASB guide and ASM guide.
Which ASNB funds can non-Bumiputera invest in?
Non-Bumiputera Malaysians aged 18 and above can invest in ASM, ASM 2 Wawasan, ASM 3 and ASN Equity 3, according to ASNB's product pages. ASM paid 5.00 sen per unit for the year to 31 March 2026, which is the figure most people mean when they search for the "non-Bumiputera interest rate". ASNB pays distributions, not interest, and they are not guaranteed.
ASNB's fund list also shows other variable-price funds open to all Malaysians, such as ASN Equity 5, ASN Imbang and ASN Sara, but we have not confirmed each one on ASNB's own pages. ASB and ASN stay Bumiputera-only. See our guide to ASNB funds for the wider list.
ASNB funds at a glance
Fixed-price funds are priced at RM1 per unit. Variable-price funds are priced at NAV. Source: ASNB product pages, checked 15 October 2026.
| Fund | Price | Who can invest | Maximum investment | EPF-MIS | Financial year-end |
|---|---|---|---|---|---|
| ASB | Fixed RM1 | Bumiputera (and the groups listed above) | 300,000 units | No | 31 Dec |
| ASB 2 | Fixed RM1 | Bumiputera (and the groups listed above) | 300,000 units, subject to availability | Yes | 31 Mar |
| ASB 3 Didik | Fixed RM1 | Bumiputera (and the groups listed above) | Unlimited, subject to availability | Yes | 30 Jun |
| ASM | Fixed RM1 | All Malaysian citizens, 18+ | Unlimited, subject to availability | No | 31 Mar |
| ASM 2 Wawasan | Fixed RM1 | All Malaysian citizens, 18+ | Unlimited, subject to availability | Yes | 31 Aug |
| ASM 3 | Fixed RM1 | All Malaysian citizens, 18+ | Unlimited, subject to availability | Yes | 30 Sep |
| ASN | Variable (NAV) | Bumiputera, 18+ | Unlimited | No | 31 Dec |
| ASN Equity 3 | Variable (NAV) | All Malaysian citizens, 18+ | Unlimited | Yes (sales charge up to 3%) | 31 Mar |
ASB 2, ASB 3 Didik, ASM 2 Wawasan and ASM 3 have different year-ends, so their distributions arrive at different times of the year.
What is unit trust?
A Unit Trust is an investment vehicle that pools money from multiple investors to create a diversified portfolio managed by professional fund managers. These funds invest in a range of financial assets, including stocks, bonds, money market instruments, and other securities. By spreading investments across different asset classes, Unit Trusts help reduce risk while offering investors an opportunity to participate in the financial markets without directly managing individual assets.
Unlike direct stock or bond investments, Unit Trusts allow investors to own units that represent a proportionate share of the fund’s holdings. The fund managers handle the selection and management of assets, adjusting allocations to maximize returns while mitigating risks. This makes Unit Trusts a popular choice for investors looking for accessible, professionally managed investment solutions with built-in diversification.
What is Amanah Saham Nasional Berhad (ASNB)?
Amanah Saham Nasional Berhad (ASNB) is a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB), established on 22 May 1979 to manage unit trust funds for Malaysian investors.
For the full ASNB range, how to open an account and the risks, read our guide to ASNB funds.
Unit trust offerings
ASNB offers two main types of unit trusts:
| Fixed Price Unit Trusts | Variable Price Unit Trusts |
|---|---|
| Offered at a fixed price of RM1 per unit, providing returns through annual income distributions. | Unit prices fluctuate daily based on NAV, offering returns through annual distributions and potential capital gains. |
| Examples:• Amanah Saham Bumiputera (ASB)• Amanah Saham Bumiputera 2 (ASB 2)• Amanah Saham Bumiputera 3 Didik (ASB 3 Didik)• Amanah Saham Malaysia (ASM)• Amanah Saham Malaysia 2 – Wawasan (ASM 2 Wawasan)• Amanah Saham Malaysia 3 (ASM 3) | Examples:• Amanah Saham Nasional (ASN)• ASN Equity 2• ASN Equity 3• ASN Equity 5• ASN Imbang 1• ASN Imbang 2• ASN Sara 1• ASN Sara 2 |
ASNB offers three primary unit trust categories: Amanah Saham Bumiputera (ASB), Amanah Saham Malaysia (ASM), and Amanah Saham Nasional (ASN). Each of these main funds has its own set of variations to cater to different investor needs and risk appetites.
- ASB includes ASB 2 and ASB 3 Didik, providing low-risk, fixed-price investment options with stable returns.
- ASM is complemented by ASM 2 Wawasan and ASM 3, all offering fixed-price stability with diversified portfolios.
- ASN offers multiple variations like ASN Equity, ASN Imbang, and ASN Sara, each focusing on different investment strategies ranging from high-growth equities to balanced and income-generating funds.
What are the latest distributions?
ASNB declares distributions once a year, after each fund's financial year-end. These are the most recent declared rates as at 15 October 2026.
| Fund | Financial year-end | Latest distribution (sen per unit) | Announced | Previous year (sen) |
|---|---|---|---|---|
| ASB | 31 Dec 2025 | 5.75 (5.20 + 0.55 bonus) | 19 Dec 2025 | 5.75 |
| ASB 2 | 31 Mar 2026 | 5.50 | 27 Mar 2026 | 5.50 |
| ASB 3 Didik | 30 Jun 2026 | 5.50 | 25 Jun 2026 | 5.25 |
| ASM | 31 Mar 2026 | 5.00 | 27 Mar 2026 | 5.00 |
| ASM 2 Wawasan | 31 Aug 2026 | 5.00 | 28 Aug 2026 | 4.75 |
| ASM 3 | 30 Sep 2026 | 5.00 | 28 Sep 2026 | 4.75 |
| ASN (net) | 31 Dec 2025 | 1.81 (total return -0.14%) | Per ASNB product page | 2.16 (total return 25.73%) |
Unit holders who pay zakat through the Class B method have a 2.57% deduction, which ASNB described as giving a net distribution of 4.87% on a 5.00 sen payout (ASM 2 Wawasan, ASM 3).
What is Amanah Saham Bumiputera (ASB)?
Amanah Saham Bumiputera (ASB) is a fixed-price unit trust fund launched on January 2, 1990, by Amanah Saham Nasional Berhad (ASNB), a subsidiary of Permodalan Nasional Berhad (PNB). ASB was created to provide Bumiputera investors with an alternative savings vehicle that offers consistent returns and capital preservation at minimal risk. With a fixed unit price of RM1.00, ASB ensures that investors' capital is protected from market volatility, making it one of the most stable investment options in Malaysia.
Fund details
ASB is structured as a fixed-price equity income fund, focusing primarily on high-quality equities, fixed-income securities, and other diversified assets. The fund has a management fee of 0.35% per annum, significantly lower than most equity unit trust funds. Investors can hold up to 300,000 units, with no upfront fees or charges for redemptions, ensuring that their returns are maximized.
ASB Asset Allocation (as of End 2025):
- 75.64% in Equities
- 13.75% in Fixed Income Investments
- 6.79% in Other Investments
- 3.82% in Unit Trusts & Exchange-Traded Funds
Top equities in ASB’s portfolio include major companies such as Maybank (20.38%), SD Guthrie Berhad (9.69%), and Government of Malaysia (8.42%), ensuring a well-diversified and stable investment strategy.
Dividend history and performance
ASB has a long track record of delivering competitive annual dividends, averaging over 5% per year since its inception. Despite economic downturns, such as the global pandemic in 2020, ASB continued to provide stable returns, making it a reliable source of passive income.
ASB Dividend History (2011-2025):
| Year | Distribution per unit (sen) | Bonus per unit (sen) | Special Bonus per unit (sen) | Total ASB Dividend per unit (sen) |
|---|---|---|---|---|
| 2011 | 7.65 | 1.15 | – | 8.80 |
| 2012 | 7.75 | 1.15 | – | 8.90 |
| 2013 | 7.70 | 1.00 | – | 8.70 |
| 2014 | 7.50 | 1.00 | – | 8.50 |
| 2015 | 7.25 | 0.50 | – | 7.75 |
| 2016 | 6.75 | 0.50 | – | 7.25 |
| 2017 | 7.00 | 0.25 | 1.00 | 8.25 |
| 2018 | 6.50 | 0.50 | – | 7.00 |
| 2019 | 5.00 | 0.50 | – | 5.50 |
| 2020 | 3.50 | 0.75 | 0.75 | 5.00 |
| 2021 | 4.25 | 0.75 | – | 5.00 |
| 2022 | 4.60 | 0.50 | – | 5.10 |
| 2023 | 3.35 | 1.25 | 0.50 | 5.10 |
| 2024 | 5.50 | 0.25 | - | 5.75 |
| 2025 | 5.20 | 0.55 | - | 5.75 |
Eligibility for ASB
ASB is exclusively available to Bumiputera investors, including:
- Malay, Orang Asli, Sabah and Sarawak natives
- Siamese/Thai descent Bumiputera
- Non-Bumiputera Muslim converts
- Portuguese/Eurasian Bumiputera descent
Non-Bumiputera investors who do not meet these criteria can explore Amanah Saham Malaysia (ASM), which offers similar benefits and is open to all Malaysians.
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How to buy ASB units
Investing in ASB is straightforward, with both in-person and online options available.
1. Open an ASNB Account
You can open an ASNB account through:
- ASNB branches, authorized agents (except Pos Malaysia and Maybank)
- myASNB mobile app for Malaysians aged 18 and above with MyKad
Required documents include your MyKad (for Akaun Dewasa) or birth certificate/MyKad of the minor and the guardian’s MyKad (for Akaun Remaja/Bijak).
2. Make Your Investment
Minimum investment starts at RM10, and you can buy units through:
- myASNB app/portal – Pay via FPX
- Online banking platforms – Available via Maybank2u, CIMB Clicks, RHB Now, and HLB Connect
- In-person at ASNB branches/agents – Pay via cash, cheque, or bank draft
Financing Options for ASB
- Salary Deduction Scheme (SIP) – Automatic monthly deductions through payroll for both public and private sector employees.
- ASB Loan Financing – Offered by major banks with up to 40-year tenure and competitive interest rates, allowing you to leverage your ASB investment.
- EPF Members’ Investment Scheme – While EPF funds cannot be directly invested in ASB, other ASNB funds are eligible for EPF investment, providing flexibility for retirement planning.
ASB remains a cornerstone investment option for Bumiputera investors, offering low-risk capital preservation, competitive dividends, and flexible financing options, making it an ideal vehicle for long-term wealth accumulation.
Amanah Saham Bumiputera 2 (ASB 2): Expanding beyond ASB
Introduced in 2014, Amanah Saham Bumiputera 2 (ASB 2) was created to meet the increasing demand for investment opportunities among Bumiputera investors. Like ASB, ASB 2 offers a fixed unit price of RM1.00, ensuring capital preservation while providing competitive returns.
ASB 2 allows investors to hold an additional 300,000 units, bringing the total investment limit across both ASB and ASB 2 to 600,000 units. While ASB focuses primarily on equities, ASB 2 adopts a mixed-asset strategy, balancing equities with fixed-income securities, making it suitable for investors seeking a more moderate risk profile with steady returns.
Dividend performance:
ASB 2 has maintained consistent dividend payouts since its inception, with its most recent distribution in 2024 at 5.25 sen per unit. Although slightly lower than ASB’s historical averages, ASB 2’s performance highlights its stability and reliability as an investment option.
Key differences between ASB and ASB 2:
While both funds share similar structures, their asset allocation strategies differ. ASB’s focus on equities aims for long-term growth, whereas ASB 2’s balanced approach offers greater risk mitigation, making it an ideal choice for more conservative investors within the Bumiputera community.
For those looking to diversify their holdings, ASB 2 presents an opportunity to grow their wealth without the constraints of ASB’s unit limit, while still enjoying the benefits of a fixed-price fund managed by ASNB.
| Feature | ASB | ASB 2 | ASB 3 Didik |
|---|---|---|---|
| Launch Date | 2 January 1990 | 2 April 2014 | 14 April 2001 |
| Fund Type | Fixed Price Equity Income Fund | Fixed Price Equity Income Fund | Fixed Price Equity Income Fund |
| Financial Year End | 31 December | 31 March | 30 June |
| Management Fee | 1.0% p.a. | 1.0% p.a. | 1.0% p.a. |
| Trustee Fee | RM650,000 p.a. | RM750,000 p.a. | 0.08% p.a. (min RM18k) |
| 2025 Dividend + Bonus | 5.75 sen | 5.50 sen | 5.25 sen |
What is Amanah Saham Malaysia (ASM)?
Amanah Saham Malaysia (ASM) is a fixed-price unit trust fund managed by Amanah Saham Nasional Berhad (ASNB), a subsidiary of Permodalan Nasional Berhad (PNB). Launched in 2000, ASM is designed to offer stable, long-term returns through a diversified investment portfolio. Unlike ASB, which is exclusive to Bumiputeras, ASM is open to all Malaysian citizens, making it an inclusive investment option for those seeking low-risk capital preservation and consistent income.
Fund details
ASM operates as a mixed-asset income fund, investing in equities, fixed-income securities, and money market instruments. The fund is managed with a fixed unit price of RM1, ensuring that investors’ capital is protected from market fluctuations. ASM’s management fee is 1.0% per annum, higher than ASB’s 0.35%, but still competitive compared to many other unit trust funds.
ASM allows unlimited investments, subject to unit availability, making it an attractive option for investors looking to grow their wealth steadily.
Dividend history and performance
ASM has a proven track record of delivering stable annual dividends, with payouts ranging from 4.00 to 6.80 sen per unit over the years. Despite economic downturns, ASM has maintained its resilience and reliability, providing investors with consistent returns.
ASM Dividend History (2011-2025):
| Year | Distribution per unit (sen) | Bonus per unit (sen) | Total ASB Dividend per unit (sen) |
|---|---|---|---|
| 2011 | 6.38 | 6.38 | |
| 2012 | 6.50 | 6.50 | |
| 2013 | 6.50 | 0.30 | 6.80 |
| 2014 | 6.60 | 6.60 | |
| 2015 | 6.60 | 6.60 | |
| 2016 | 6.30 | 6.30 | |
| 2017 | 6.00 | 6.00 | |
| 2018 | 6.25 | 6.25 | |
| 2019 | 4.25 | 4.25 | |
| 2020 | 4.00 | 4.00 | |
| 2021 | 4.00 | 4.00 | |
| 2022 | 4.00 | 4.00 | |
| 2023 | 4.50 | 4.50 | |
| 2024 | 4.75 | 4.75 | |
| 2025 | 5.00 | 5.00 |
Eligibility for ASM
ASM is open to all Malaysian citizens aged 18 and above. Guardians can also invest on behalf of minors under 18 years old, making ASM accessible to investors at all stages of life.
How to Buy ASM Units
Investing in ASM is simple and accessible through various platforms:
- ASNB branches and authorized agents like Maybank, CIMB, RHB, and BSN.
- myASNB portal and mobile app for convenient online transactions.
- Minimum investment starts at RM10, with additional investments as low as RM1.
Financing options for ASM
ASM investors can grow their holdings through the EPF Members' Investment Scheme (EPF-MIS), using retirement savings via the EPF i-Invest platform or manual submission at ASNB branches, with no charges for ASM investments.
The Salary Deduction Scheme (SIP) allows public and private sector employees to contribute directly from their salaries by submitting the required forms to their payroll units, ensuring consistent and automated investments.
Amanah Saham Malaysia 2 Wawasan (ASM 2 Wawasan) and Amanah Saham Malaysia 3 (ASM 3)
For investors who find it challenging to secure ASM units, ASM 2 Wawasan (launched in 1996) and ASM 3 (launched in 2009) provide excellent alternatives. Both funds share ASM’s fixed-price structure, ensuring capital preservation and stable returns.
While ASM 2 Wawasan focuses on regular income distributions, ASM 3 aims to deliver steady income with capital preservation. The key difference lies in their financial year-end dates, allowing investors to spread out dividend income throughout the year for better cash flow management.
| Feature | ASM | ASM 2 Wawasan | ASM 3 |
|---|---|---|---|
| Launch Date | 20 April 2000 | 28 August 1996 | 5 August 2009 |
| Fund Type | Mixed Asset | Mixed Asset | Mixed Asset |
| Financial Year End | 31 March | 31 August | 30 September |
| Management Fee | 1.0% p.a. | 1.0% p.a. | 1.0% p.a. |
| Trustee Fee | RM650,000 p.a. | RM750,000 p.a. | 0.08% p.a. (min RM18k) |
| 2025 Dividend | 5.00 sen | 4.75 sen | 4.75 sen |
These funds, managed by ASNB and overseen by AmanahRaya Trustees Berhad, provide investors with more opportunities to benefit from the low-risk, stable return structure that Amanah Saham funds are known for.
What is Amanah Saham Nasional (ASN)?
Amanah Saham Nasional (ASN) is an equity-based unit trust fund launched on 20 April 1981 by Amanah Saham Nasional Berhad (ASNB), a subsidiary of Permodalan Nasional Berhad (PNB). ASN aims to provide capital appreciation and reasonable income distribution through a diversified portfolio, making it a suitable option for Bumiputera investors seeking medium- to long-term growth.
Fund details
ASN operates as a growth fund, primarily investing in listed equities, with allocations in fixed income instruments and money market assets to balance risks. Unlike ASB and ASM, ASN is a variable-priced unit trust fund, with its unit price based on the Net Asset Value (NAV). The management fee is up to 1.5% per annum, ensuring active management for optimal returns.
Income distribution
ASN offers annual income distributions at the discretion of the fund manager, subject to trustee approval. Recent years have shown strong performance, with increasing returns despite market challenges.
| Year | Net Distribution per unit (sen per Unit) | Total Return (%) |
|---|---|---|
| 2022 | 1.66 | -5.66 |
| 2023 | 1.75 | 11.96 |
| 2024 | 2.16 | 25.73 |
This upward trend demonstrates ASN’s potential for capital appreciation, particularly for investors with a higher risk tolerance.
Eligibility for ASN
ASN is available exclusively to Malaysian Bumiputera individuals aged 18 and above. Guardians from the same category can invest on behalf of minors below 18 years old with a valid birth certificate.
How to buy ASN units
Investing in ASN is accessible through multiple platforms:
- ASNB branches and authorized agents (Maybank, CIMB, RHB, BSN, Affin Bank, Pos Malaysia).
- myASNB portal and mobile app for online transactions.
- Minimum investment starts at RM10, with additional investments from RM1.
Financing options for ASN
ASN does not offer the EPF Members' Investment Scheme (EPF-MIS), but investors can utilize the Salary Deduction Scheme for monthly contributions. Both public and private sector employees can apply through their employer’s payroll unit for automated salary deductions, ensuring consistent investments over time.
Why choose ASN?
ASN stands out for its growth-oriented approach, offering investors the opportunity to achieve capital appreciation through a well-diversified equity portfolio.
While it carries higher risk compared to ASB and ASM due to its variable pricing, its performance track record highlights its potential for strong returns over the long term. Managed by PNB, ASN provides Bumiputera investors with a reliable platform to grow their wealth through the Malaysian capital market.
Why are there multiple ASN variations?
Over the years, ASNB has introduced several ASN variations to cater to different investment needs, risk appetites, and financial goals. These include ASN Equity, ASN Imbang, ASN Sara, and ASN Sukuk each with unique asset allocations and strategies.
The core reason for multiple ASN variations is to provide flexibility and choice, allowing investors to select funds based on their risk tolerance, investment horizon, and desired returns.
While ASN Equity funds focus on high growth through equities, ASN Imbang balances growth with stability by combining equities and fixed income, and ASN Sara prioritizes capital preservation and income generation.
These variations give Bumiputera investors access to a comprehensive suite of investment options under the ASN umbrella, ensuring that they can diversify their portfolios while staying within the trusted management of PNB.
ASB, ASM or ASN: which is suitable?
It depends on eligibility first, then how much price risk you accept.
- Only ASM is open to every Malaysian. If you are not Bumiputera, ASM and its sister funds are the fixed-price option.
- ASB suits Bumiputera investors who want a fixed RM1 unit price. The 300,000-unit limit applies.
- ASN suits Bumiputera investors who accept price swings for a chance of capital growth, and who can hold for the medium to long term.
- Unit availability, not your budget, can be the limit for ASM: units are sold subject to availability.
Key benefits of ASB, ASM, and ASN
| Types of Trust Funds | Benefits |
|---|---|
| ASB | Attractive dividend returns, high liquidity with quick withdrawals, government-guaranteed capital, suitable for long-term investments despite limited caps. |
| ASM | Open to Bumiputeras and non-Bumiputeras, low-risk investment with guaranteed capital at RM1 per unit, but units are limited and not ideal for short-term gains. |
| ASN | Variable pricing with potential for capital gains, suitable for growth-focused investors, though it carries more market risk and limited investor control. |
Key differences between ASB, ASM, and ASN
| Categories | ASB | ASM | ASN |
|---|---|---|---|
| Eligibility | Bumiputera investors | All Malaysian citizens | Bumiputera investors |
| Investment Objectives | Competitive long-term returns with capital retention | Long-term returns with low risk and stable income | Capital growth through diversified investments |
| Price per Unit | Fixed at RM1 per unit | Fixed at RM1 per unit | Variable, based on Net Asset Value (NAV) |
| Initial Investment | RM10 minimum | RM10 minimum | RM10 minimum |
| Investment Limits | RM200,000 limit per account | No limit (subject to unit availability) | No limit |
| Asset Allocation | Diversified across various asset classes | Diversified portfolio with low-risk focus | Primarily equity-based |
| Sales Charges | None | None | Up to 5% (Over-the-counter), 2% (Online) |
Final Thoughts: ASB, ASM, and ASN – Choosing the right fund and the importance of diversification
ASB, ASM, and ASN are three cornerstone investment options offered by ASNB, each catering to different investor profiles and financial goals. ASB provides stability and consistent returns for Bumiputera investors, ASM offers low-risk investments for all Malaysians, and ASN allows for potential growth through its equity-based approach. Together, these funds provide Malaysians with reliable opportunities to build and preserve wealth over time.
However, relying solely on one investment vehicle may limit your financial growth potential. While ASB, ASM, and ASN provide safety and steady returns, diversifying your portfolio is crucial to balance risk and enhance long-term returns, especially in today’s evolving financial landscape.
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By combining the stability of ASNB funds with StashAway’s flexible and data-driven investment solutions, you can build a resilient and well-rounded portfolio that not only preserves capital but also captures growth opportunities globally.
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Frequently asked questions
What is the difference between ASB and ASM?
ASB is for Bumiputera investors and has a limit of 300,000 units per Akaun Dewasa. ASM is open to all Malaysian citizens aged 18 and above, with no set limit but subject to unit availability. Both are fixed-price funds at RM1 per unit with no sales charge. ASB paid 5.75 sen per unit for 2025 and ASM 5.00 sen for the year to 31 March 2026.
What is the difference between ASB and ASN?
ASB is a fixed-price fund at RM1 per unit with no sales charge, so only its distributions change. ASN is an equity growth fund whose unit price moves with its net asset value, with a sales charge of up to 5% (2.0% online). Both are for Bumiputera investors. ASN paid a net 1.81 sen per unit for 2025, and its total return was -0.14%.
Can non-Bumiputera invest in ASB or ASN?
Generally no. ASNB limits ASB and ASN to Bumiputera, although ASB also accepts Malaysian citizens of Siamese/Thai or Portuguese/Eurasian descent and non-Bumiputera Muslim converts. Non-Bumiputera Malaysians aged 18 and above can invest in ASM, ASM 2 Wawasan, ASM 3 and ASN Equity 3, among other ASNB funds.
What are the latest ASB, ASM and ASN dividends?
ASB paid 5.75 sen per unit for the year to 31 December 2025 (5.20 sen distribution plus 0.55 sen bonus). ASM paid 5.00 sen for the year to 31 March 2026. ASN paid a net 1.81 sen per unit for 2025. Distributions are decided each year at ASNB's discretion, so past payouts do not predict future ones.
Is ASN riskier than ASB and ASM?
Generally yes. ASB and ASM units stay at RM1, while ASN units are priced at net asset value, so capital can fall as well as rise. ASN's total return was 25.73% in 2024 and -0.14% in 2025. ASNB's page rated ASN's three-year volatility as moderate as at 31 August 2026.
Can I use EPF to invest in ASB, ASM or ASN?
No. ASNB lists the EPF Members Investment Scheme as not available for ASB, ASM and ASN. It is available for ASB 2, ASB 3 Didik, ASM 2 Wawasan, ASM 3 and ASN Equity 3. EPF-MIS purchases carry a sales charge of up to 3% on variable-price funds such as ASN Equity 3.
How fast can I withdraw from ASB, ASM or ASN?
ASNB states that repurchases of ASB and ASM units are paid on the spot. For ASN, repurchase proceeds are paid within seven business days of the request being received. ASN has no repurchase charge. First-time variable-price investors also get a six-business-day cooling-off period to ask for a refund.
Is there a limit to how much I can invest in ASB?
Yes. ASNB sets ASB's maximum at 300,000 units for both Akaun Dewasa and Akaun Remaja, which is RM300,000 at RM1 per unit. Your holding can go above this through reinvested distributions or inheritance. ASM and ASN have no set cap, although ASM purchases are subject to unit availability.
