PNB will remain firm in asset management in 2023 amid global economic uncertainty | Popgen Tech
KUALA LUMPUR: Permodalan Nasional Bhd (PNB) will remain steadfast in managing and growing its assets under management next year despite continued economic uncertainty globally and recession fears.
At the same time, the company will continue to explore new opportunities to provide sustainable returns to unit holders, said its president and chief executive Ahmad Zulqarnain Onn.
He said that the year 2022 was a difficult operating environment for all asset managers and 2023 looks to be equally challenging.
“We will continue to explore new opportunities in an ever-changing environment to provide sustainable returns to our unitholders and this includes our plan to diversify our asset portfolio into infrastructure.
“We have also noticed that there are many opportunities in fixed income,” he said during an editors’ briefing held on December 21 alongside the announcement of Amanah Saham Bumiputera’s (ASB) 2022 dividend.
Ahmad Zulqarnain said that there will be up and down risks.
“Downside risks are the ongoing battle of the US Federal Reserve (the Fed) to tame inflation, China’s zero-sum policy on COVID, and the Russia-Ukraine geopolitical risk.
“But on the other hand, if the central bank (the Fed) succeeds in the fight against inflation, it will start easing interest rates and this will result in a market rally. The opening of China’s economy will also boost the market,” he said.
PNB’s unit trust management company, Amanah Saham Nasional Bhd (ASNB), today announced a dividend of 3.35 sen and a bonus of 1.25 sen, totaling 4.60 sen a unit.
In addition, ASNB has announced a “bonus adjunto” (additional bonus) of 0.50 sen unit for the first 30,000 units held by a unit holder. The total income distribution for the financial year 31 December, 2022, amounts to RM8.9 billion, benefiting 10.6 million ASB unit holders.
Ahmad Zulqarnain said that the additional bonus was announced in response to the high cost of living pressure, and this payment will be given to the first 30,000 units of the unit holders.
“Our dividend payment is linked to the performance of the market, so in a year when the market is not doing so well, the return will be slightly lower, but we continue to be positive,” he said, adding that over the years the fund should have continued to receive 200,000 new accounts on average per year.
During the 90-minute information session, Ahmad Zulqarnain said that from November 2022, the global allocation of the fund increased to 19 percent from 17 percent in 2021, while the domestic allocation dropped to 81 percent from 83 percent.
He said that domestic public equity made up 59.4 percent of the allocation (2021: 61.5 percent), private investments 4.4 percent (2021: 4.0 percent), real estate 5.9 percent (2021 : 5.2 percent), fixed income 7.1 percent (2021: 6.5 percent), and cash 11 percent (2021: 10.7 percent), while international public equity was maintained at 11.8 in – a hundred
“PNB’s assets under management continue to grow, surpassing RM340 billion. As of November this year, (assets stood at) RM343.1 billion, (an increase) from RM336.7 billion in 2021.
“The number of accounts also grew to 15.2 million, with units in circulation reaching 283 billion units, reflecting continued confidence in PNB,” he added. – Bernama