KUALA LUMPUR (Sept 30): Permodalan Nasional Bhd has announced a record low income distribution of 3.75 sen per unit for its fixed price unit trust fund Amanah Saham Malaysia 3 (ASM3), for the financial year ending Sept 30, 2022 (FY22).

This compares with the four sen distribution declared for the fund in the previous two years by Amanah Saham Nasional Bhd, the unit trust management subsidiary of PNB.

The highest income distribution for the fund since its launch in 2009 was 6.70% for 2013.

ASM3, previously known as Amanah Saham 1Malaysia (AS1M), declared a total income distribution payout of RM573.66 million for FY22, benefitting 551,685 unitholders owning 15.30 billion units, PNB said in a statement on Friday (Sept 30).

“Overall, the fund recorded RM757.81 million total gross income and RM575.87 million of net realised income, amid recessionary concerns and global supply chain disruption affecting the global markets.

“The income distribution of ASM3 is equivalent to [a] total return of 3.75%, which outperformed its benchmark Maybank 12-month fixed deposit rate of 2.02% by 173 basis points,” the statement said.

During the same period, the FBM KLCI declined by 6.41%, from 1,537.80 at the closing of Sept 30, 2021 to 1,439.16 at Sept 22, 2022, as the index began to record outflow of foreign investments despite the improving Covid-19 situation, PNB added.

PNB said the income for ASM3 is derived from realised gains, dividends, as well as other income from domestic and international investments.

“The diversification strategy taken by the fund continued to show positive results, as international equities contributed 40.9% to the fund’s overall gross income,” it said.

PNB said the distribution declared by ASM3 will be automatically reinvested on Oct 1, as additional units into the unitholders’ accounts.