What Is ASNB? Funds, Eligibility, Dividends and How to Invest (2026)

ASNB (Amanah Saham Nasional Berhad) is the unit trust manager of Permodalan Nasional Berhad (PNB). It runs fixed-price funds such as ASB, ASB 2, ASB 3 Didik, ASM, ASM 2 Wawasan and ASM 3, plus variable-price ASN funds. The latest fixed-price distributions are 5.00 to 5.75 sen per unit. Some funds are for Bumiputera only.

Amanah Saham Nasional Berhad (ASNB) is Malaysia’s largest unit trust management company and a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB), one of the country’s leading fund management institutions. Established on 22 May 1979, ASNB was created to manage unit trust funds launched by PNB, with the goal of promoting long-term investment among Malaysians.

As of 2026, ASNB oversees approximately RM 365.3 billion in assets under management (AUM), with more than 300 billion units held by over 15 million account holders. This makes it the dominant player in Malaysia’s unit trust industry, offering various funds designed to cater to different investor needs.

What are the latest ASNB income distributions, and who can invest?

This table shows each ASNB fund, its price type, who can invest, the latest declared distribution and the maximum investment. Figures are from ASNB fund pages and announcements. Distributions are not guaranteed, and past rates do not predict future ones.

Source: ASNB product pages (asnb.com.my). For one fund in depth, see our ASB guide or ASM guide. To compare ASB, ASM and ASN side by side, see the key differences between ASB, ASM and ASN.

What is a unit trust fund?

A unit trust fund is a collective investment scheme that pools public savings into a professionally managed fund. It operates under a legal Deed registered with the Securities Commission, which defines the rights of unitholders and the responsibilities of trustees and fund managers. This structure ensures compliance with legal and regulatory requirements while protecting investors’ interest.

Unitholders contribute capital to the fund and are responsible for reading and understanding the prospectus, which outlines the investment strategy, risks and potential returns. The management company oversees the fund’s operations, ensuring transparency and regulatory adherence. A trustee is appointed to safeguard the fund’s assets, providing an additional layer of security.

The professional fund manager is responsible for selecting and managing the investment portfolio, which may include equities, fixed-income securities, government bonds, treasury bills, and Negotiable Certificates of Deposits. Investments must comply with regulatory guidelines and may also include placements in eligible markets or other investments approved by the Securities Commission.

The primary objective of a unit trust is to generate capital gains and income distributions for unitholders. Returns from investments are either distributed based on the fund’s policy. By pooling resources, unit trust funds provide investors access to diversified portfolios and professional management, making a viable investment option for long-term financial growth.

What types of ASNB unit trust funds are there?

ASNB offers two main categories of unit trust funds: Fixed Price Funds and Variable Price Funds. These funds cater to different investor preferences, risk appetites, and financial goals. Fixed price funds provide stable investment options with a fixed unit price, making them suitable for low-risk investors. In contrast, variable price funds have unit prices that fluctuate based on market performance, offering growth potential but with high risks. Understanding these fund types helps investors align their investments with their financial objectives.

What is the difference between fixed price and variable price funds?

Fixed Price Funds maintain a constant unit price, offering stable investment opportunities with returns primarily in the form of annual income distributions. Meanwhile, Variable Price Funds fluctuate daily based on the Net Asset Value (NAV), allowing investors to earn returns through annual income distributions and potential capital gains. The table below outlines their key differences:

Variable price funds also carry a sales charge that depends on the fund and channel. See the fees section below.

Who can invest in ASNB funds?

Investment in ASNB unit trust funds is open to Malaysian citizens, with each fund having different requirements in terms of minimum investment amount, age, and maximum investment limits. Investments are allowed from birth, provided there is a Registered Guardian who is a Malaysian citizen aged 18 and above. The table below outlines the specific eligibility criteria for each fund.

To register for the Bumiputera funds, ASNB asks for your MyKad/MyKid and a document that shows your race or lineage (such as a birth certificate or, for Sabah and Sarawak, the relevant native verification). See ASNB's registration page for the full list.

Why do people invest in ASNB fixed price funds?

Fixed price funds are popular because the unit price stays at RM1.00, there is no sales charge on the main funds, the minimum is RM10, and returns come as an annual income distribution. Here are the features people look at most.

1. Fixed unit price at RM1.00

All ASNB Fixed Price Funds are permanently priced at RM 1.00 per unit, ensuring price stability and eliminating market fluctuations. This fixed pricing structure allows investors to plan their investments with confidence, knowing exactly how many units they are purchasing. Additionally, the fixed price structure simplifies investment planning, as there is no need to monitor daily price movements. With a low RM 10 entry, ASNB Fixed Price Funds offer accessible, low-risk investing with relatively consistent returns for all Malaysians.

2. Stable and competitive dividend returns

ASNB Fixed Price Funds offer stable and competitive dividend returns, making them an attractive choice for investors seeking reliable income. Despite market fluctuations, these funds have consistently delivered dividends, maintaining a solid track record of payouts. Distributions are set each year and are not guaranteed.

The table below shows the net distribution per unit (in sen) for the last three financial years of each ASNB fixed price fund. Each fund has a different year end, so the years do not line up.

Source: ASNB fund pages and PNB/ASNB announcements, checked 15 Oct 2026. ASB 3 Didik and ASM 3 FY2024 and FY2025 are the gross rate; ASM 2 Wawasan FY2026 is press-reported.

ASNB Fixed Price Funds continue to be a reliable investment choice for Malaysians seeking stability and consistent returns. Their fixed unit price, competitive dividend payouts, and accessibility make them an attractive option, especially for risk-averse investors. Past distributions are not a guide to future ones, and the rate can go down as well as up.

3. Tax-free dividends

This tax exemption makes ASNB Fixed Price Funds even more attractive for investors looking to maximize their returns. Since dividends earned are not subject to income tax, investors can fully enjoy their payouts without any deductions or additional paperwork. The Inland Revenue Board (LHDN) has also been reported as confirming that ASNB dividends are exempt from the 2% dividend tax that applies to individuals' dividend income above RM100,000 a year.

4. Zero sales charge

No sales charges are imposed on ASNB Fixed Price Funds, unlike many other unit trusts that charge upfront fees ranging between 1-5 %. This ensures that every ringgit you invest goes entirely into purchasing units, maximizing the value of your investment.

Note: Certain funds like ASB 2 and ASM 3 reserve the right to impose up to a 1 % sales fee at their discretion, though this is rarely applied.

5. On-the-spot redemption

ASNB offers instant redemptions over the counter at branches or agent banks. This means that whether you need cash on the spot, a cheque, or a direct bank transfer, you can access your funds immediately without hassle.

For investors who prefer digital convenience, ASNB also enables online redemptions through the myASNB portal and mobile app without any additional charges. There is a minimum of 100 units per transaction and a maximum of 2,000 units per month, accumulated across all ASNB unit trusts. Redemptions are limited to three transactions per month, whichever limit is reached first.

6. Low minimum investment

With a minimum initial investment of just RM 10, ASNB Fixed Price Funds are highly accessible. This affordability allows students, young adults, and first-time investors to start their investment journey with minimal financial commitment.

7. Backed by government-linked institutions

ASNB funds benefit from strict regulatory oversight and professional fund management under Permodalan Nasional Berhad (PNB), a government-linked investment institution. With strong regulatory oversight and backing from the Malaysian government, these funds offer investors an added layer of confidence in the stability and governance.

8. Available to All Malaysians (Not Just Bumiputera)

Among the six Fixed Price Funds, three funds are open to all Malaysians regardless of race or background. These include:

• Amanah Saham Malaysia (ASM)
• ASM 2 Wawasan
• ASM 3

What are the risks of ASNB funds?

ASNB funds are not risk-free. Distributions are not guaranteed, variable price fund units can lose value, and the funds are not covered by PIDM. While ASNB funds offer stable returns and accessible investing options for Malaysians, they are not without drawbacks. Like any investment, they come with certain risks and limitations that investors should be aware of. It’s important to understand these factors before committing your money to ensure they align with your financial goals. 

Here’s what you need to know before investing in ASNB funds.

1. Market and interest rate risk still apply

While ASNB Fixed Price Funds ensure that the unit price remains at RM 1, this does not mean they are completely risk-free. The underlying assets such as equities, bonds, and money market instruments are still influenced by external factors like economic downturns, inflation, and changes in government policies. For instance, during periods of economic instability or high-interest rates, the returns from bonds or equities within the fund may be lower, which can directly impact the dividend payouts.

For ASNB Variable Price Funds, the risk is even more pronounced because their unit prices fluctuate based on NAV. If the market performs poorly, not only could dividends be reduced, but the unit price itself may drop, leading to potential capital losses when selling. Therefore, investors should be aware that while ASNB funds are relatively stable, they are still subject to economic cycles and market risks.

2. No PIDM protection

Unlike bank savings accounts or fixed deposits, ASNB funds are not insured by the Perbadanan Insurans Deposit Malaysia (PIDM). This means that if ASNB or its fund managers face financial trouble, your investment is not guaranteed or protected in the same way that bank deposits are.

Without PIDM coverage, investors are fully exposed to the risks associated with fund performance, including fluctuations in dividend payouts, economic downturns, and potential mismanagement by fund managers. While ASNB funds are managed under PNB, they still carry some level of financial risk, and losses—though unlikely—are not impossible.

3. Limited unit availability for certain funds

ASM, ASM 2 Wawasan and ASM 3 are open to all Malaysian citizens, but ASNB lists the maximum investment as subject to availability of units. If units are not available on the day, you may not be able to buy more until ASNB releases units.

Check the fund's page on ASNB or myASNB before you plan a large purchase.

4. Capped online withdrawals

Although ASNB has digitised its services through the myASNB portal and mobile app, online redemptions are capped at 2,000 units per month across all ASNB unit trusts. The minimum redemption amount is 100 units, and investors must plan their withdrawals accordingly.

For those needing to withdraw a larger sum, transactions must be made at physical ASNB branches or agent banks, where on-the-spot redemptions are available. This lack of unrestricted online liquidity may be inconvenient in urgent situations, especially for investors who prefer digital transactions.

5. Dividend income is not guaranteed

Although ASNB Fixed Price Funds have a history of consistent dividend payouts, these distributions are not guaranteed. The dividend rate fluctuates based on the performance of the fund’s underlying assets, which are affected by market conditions, inflation and economic downturns.

During weak market periods, returns may decline, leading to lower dividends. Fund expenses and management costs can also impact payouts. Investors should not rely solely on ASNB dividends for passive income and should consider diversifying their investments for financial stability.

6. You can switch between funds, but it costs time and sometimes a fee

ASNB does offer switching (moving your units from one fund to another) and transfers (moving units to another holder), at ASNB branches and agents, and for selected features on myASNB. Switching requests need to be in before 4:00 pm on a business day. Switching between variable price funds costs the difference in sales charge (minimum RM25 at the counter), and switching between fixed price funds is free. For fixed price funds you still need units to be available in the fund you switch into.

Check ASNB's transfer and switching page for current fees and limits.

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How do I open an ASNB account and start investing?

You can open an account by visiting an ASNB branch office or authorized ASNB agent. The required documents are as below:

• 18 years and above: MyKad.
• Below 18 years: MyKid / MyKad or Birth Certificate, along with the parent / guardian’s MyKad.

The minimum initial investment for all ASNB unit trust funds is as low as RM 10, making it highly accessible to all Malaysians. You can also register on the myASNB app or portal and verify your identity online (eKYC). You pay by FPX from a bank account in your own name. Some products may still need a visit to a branch or agent. There is no myASNB platform fee.

Via myASNB App:

1. Download & Sign Up– Get the myASNB app and register.

2. Verify Identity – Complete in-app verification.

3. Answer 6 Questions – Simple risk assessment.

4. Start Investing – Deposit a minimum of RM10.

What are the ways to invest in ASNB funds?

Beyond direct cash investments, ASNB offers multiple convenient options to grow your investment seamlessly. Whether you prefer automated contributions, EPF withdrawals, or financing options, here are the key ways to invest in ASNB funds:

1. EPF Members’ Investment Scheme (MIS)

The EPF Members’ Investment Scheme (MIS) allows EPF members aged 18 and above to invest part of their EPF savings into ASNB unit trusts. Investments are subject to EPF’s terms and unit availability. 

You can invest online through i-Invest in your EPF i-Akaun (ASNB's recommended route) or at an ASNB branch or agent bank counter. ASNB describes the current guideline as (Account 1 balance minus Basic Savings) x 30%. The typical minimum is RM1,000. Your investment is only confirmed after EPF pays the fund manager, and you cannot top up with cash under MIS.

Eligible ASNB Funds

Application Methods

• Manual submission (via KWSP 9N AHL Form)

• Documents required: EPF 9N (AHL) Application Form, latest EPF statement, original & copy of IC
• Where to apply: ASNB Main Counter, ASNB Branches & Agents (except Pos Malaysia & Maybank)

• Manual submission (via KWSP 9N AHL Form)

• Register as an EPF i-Invest member

Online application via i-Invest: log in to i-Akaun, select i-Invest, choose ASNB and an approved fund, enter the amount and confirm with TAC.

Withdrawal of EPF Investment

For more details, visit the EPF website.

2. Salary Deduction Scheme

The Salary Deduction Scheme – Systematic Investment Plan (SIP) allows ASNB unitholders to invest regularly without visiting ASNB branches or agents. It is available for ASB and Fixed Price Funds (ASB 2, ASB 3 Didik, ASM 2 Wawasan, ASM 3), subject to unit availability. The minimum is RM10 a month.

Eligibility Criteria

• Must meet ASNB’s minimum investment balance requirement for the selected fund.
• Maintain a clean account status.
• ASB unit holders must not have reached the maximum investment limit.

Application Procedures & Required Documents

For more details, visit the ASNB website.

3. Investment through financing

ASNB offers investment through financing as an alternative to cash investments. This facility allows investors to secure financing from financial institutions to invest in Fixed Price Funds or to use their ASNB unit trusts as collateral for loans.

Investment Limit for Fixed Price Funds

Unit Trust Collateral Facilities

Unit Trust Collateral for Business & Personal Financing

For more details, visit the ASNB website.

4. Internet banking facility

ASNB unit holders can make additional investments, check balances, and review transaction records via various banking platforms, including internet banking, mobile apps, ATMs, and e-wallets.

Supported Banks & Platforms

• Maybank: Maybank2U, ATM
• CIMB: CIMB Clicks, ATM
• Affin Bank: Affin Always
• RHB: RHB Now
• Hong Leong: HLB Connect
• AmBank: AmOnline
• Bank Islam: Bank Islam Internet Banking
• Touch ‘n Go: TnG eWallet

Investment Amount Limits

• Minimum additional investment: RM1 (except for Touch ‘n Go, which is RM10).
• Maximum additional investment: Subject to bank or eWallet daily limits.
• Bank service fee: RM1 per transaction for fixed price funds; none for variable price funds (Maybank, CIMB, RHB, HLB, Affin).

Transaction Processing Time

• Fixed Price Funds: Same-day processing.
• Variable Price Funds: Updates after 2 business days (before 4 PM) or 3 working days (after 4 PM).

What fees does ASNB charge?

Fixed price funds like ASB, ASM and their siblings have no sales charge. Variable price funds charge up to 5% (up to 4% for ASN Imbang 1) at the counter, and less online. Other fees depend on what you do. All figures below are from ASNB's fund pages and fee page (checked 15 Oct 2026); 8% SST applies to some fees.

Always check the fund's product highlights sheet for the latest charges. See ASNB fee and charges.

How do ASNB funds compare with other low-risk options?

When it comes to low-risk investments, ASNB fixed price funds are often the go-to for many Malaysians. But they aren't the only way to grow your cash safely. From fixed deposits to cash management accounts, each option comes with its own pros and cons in terms of returns, flexibility, and accessibility.

Data as of 15 Oct 2026

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Bottom line

ASNB funds suit people who want a unit price they can follow (fixed price funds) or exposure to the market (variable price funds), and who are happy to hold for the medium to long term. Eligibility differs by fund, distributions are not guaranteed, and ASNB funds are not covered by PIDM. Read each fund's product highlights sheet on asnb.com.my before you invest.

Frequently asked questions

What is ASNB?

ASNB (Amanah Saham Nasional Berhad) is Malaysia's largest unit trust management company and a wholly-owned subsidiary of Permodalan Nasional Berhad (PNB). It was established on 22 May 1979 to manage PNB's unit trust funds, including ASB, ASM and ASN. It offers fixed-price and variable-price funds to Malaysian citizens, subject to each fund's eligibility rules.

Is ASNB the same as ASB?

No. ASNB is the company that manages the funds. ASB (Amanah Saham Bumiputera) is one of its funds, open to Bumiputera investors only. ASNB also manages other funds such as ASM, which is open to all Malaysian citizens, and variable-price ASN funds. Each fund has its own eligibility, price type and distribution.

Who can invest in ASNB funds?

Any Malaysian citizen can invest in ASM, ASM 2 Wawasan, ASM 3 and most ASN funds, subject to unit availability. ASB, ASB 2, ASB 3 Didik, ASN, ASN Equity 2 and ASN Sara 1 are for Bumiputera only. A Malaysian guardian aged 18 or above can invest for a child from birth. The minimum first investment is RM10.

What is the latest ASNB dividend?

ASB declared 5.75 sen per unit for the year ended 31 December 2025. ASB 2 and ASB 3 Didik declared 5.50 sen, and ASM, ASM 2 Wawasan and ASM 3 declared 5.00 sen for their latest financial years. Rates are not guaranteed, and ASB's next declaration comes after 31 December 2026.

Are ASNB funds safe? Are they covered by PIDM?

ASNB funds are regulated and managed by PNB, but they are not risk-free and are not covered by PIDM. Fixed-price funds keep the unit price at RM1.00, but distributions can change. Variable-price funds can fall in value, so you could get back less than you invested. Read each fund's product highlights sheet first.

How much money do I need to start with ASNB?

You can start with RM10 in any ASNB fund, and add as little as RM1 afterwards. Some funds have a maximum: ASB and ASB 2 are capped at 300,000 units, while most other funds are subject to unit availability. Variable-price funds charge a sales charge of up to 5%, and fixed-price funds such as ASB have none.

Can I withdraw my ASNB money anytime?

You can redeem units over the counter at ASNB branches and agents, and online through myASNB, which is open daily from 2:00 am to 11:59 pm. Fixed-price funds are paid out on the spot at the counter. Variable-price fund redemptions are paid within seven business days. EPF-MIS units are paid to EPF while under its control.

Can I use my EPF to invest in ASNB funds?

Yes. Under the EPF Members Investment Scheme you can use part of your EPF Account 1 savings above Basic Savings to buy approved ASNB funds, such as ASB 2, ASB 3 Didik and ASM 2 Wawasan. Apply online through i-Invest in your EPF i-Akaun or at an ASNB branch or agent. The typical minimum is RM1,000.