Zeti: No disruptive withdrawals by PNB unit holders despite difficult economic condition

KUALA LUMPUR, Nov 19 ― Permodalan Nasional Bhd (PNB) has not seen any disruptive withdrawals by its unit holders despite the difficult economic condition currently, group chairman Tan Sri Zeti Akhtar Aziz said.

“Currently, we are seeing that it (withdrawal) has remain fairly stable and we are not seeing any disruptive withdrawals. From time to time, yes, we see some withdrawals but this has remained stable for us,” she said during a virtual media conference at the launching ceremony of Minggu Saham Digital today.

Hosted by PNB, this year’s Minggu Saham Digital is held virtually beginning November 18-24.

Currently, PNB's assets under management (AUM) exceeds RM300 billion worth of units in circulation, subscribed by 14.28 million accounts as at December 31, 2019.

Its portfolio covers strategic investments in Malaysia's leading corporates, global equities, private investments, and real estate.

Echoing the former Bank Negara Malaysia governor's views, PNB president and group chief executive Ahmad Zulqarnain Onn said the fund management group was pleased that despite the prevailing challenging situation, it did not see any different trend on how the people invest.

“It is very heartening. That is a testament to how we do business and how people perceived us.

“PNB funds are really for long-term savings and long-term investing and we don’t see any different in the trend this year,” he stressed.

Asked on the diversification plans amid the current challenges, Zeti said that this would remain as PNB's core intention.

“We will continue to increase our international portfolio but this will be done very gradually and responsibly and also cautiously given that the market before us is very volatile and unpredictable.

“We look at the fundamental trend, the outlook of the investments concern, the outlook of the overall industry and sectors of that investment in the economy of any respective country...so that is how we will proceed,” she explained.

Zeti also said that in cognisant of the current uncertain and challenging year, the upcoming dividend payment would reflect the performance of its funds.

“We will strive to invest in the best interest to yield the best and most competitive return… but we recognised that this is a very uncertain and challenging year. (However), we are a long-term investor and we want to maintain sustainable returns and realistic payout for our unit holders,” she added. ― Bernama