Thursday, July 16, 2009

1Malaysia unit trust fund set for August launch

The much-anticipated 1Malaysia unit trust fund is set to be launched by the end of next month with a size of 10 billion units, executives of the country's largest fund manager Permodalan Nasional Bhd (PNB) said.

They said the launch is dependent on Prime Minister Datuk Seri Najib Razak's itinerary, but is now tentatively scheduled for August.
PNB president and chief executive officer Tan Sri Hamad Kama Piah Che Othman declined to disclose the date nor other details, but said that the launch will be held "very soon".
"Let the Prime Minister announce the details," he told a media briefing on the sale of additional units of Amanah Saham Malaysia (ASM) in Kuala Lumpur yesterday.
Hmm...another unit trust the GOVERNMENT really no money??? A bit scary...

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