PNB’s AUM up 6.9 pct to RM298.5 bln in 2018
KUALA LUMPUR: Permodalan Nasional Bhd’s (PNB) assets under management (AUM) increased by 6.9 per cent to RM298.5 billion in 2018 from RM279.2 billion in 2017, despite numerous headwinds affecting global economic growth and impacting financial markets.
Its chairman, Tan Sri Dr Zeti Akhtar Aziz said the growth in AUM was underpinned by its unit trust funds, which saw units in circulation increased 7.9 per cent year-on-year to 236.6 billion, whilst the number of accounts grew to 13.8 million from 13.2 million, reflecting unit holders’ confidence in PNB and its 14 unit trust funds.
“PNB’s consolidated coterminous proforma net income remained stable at RM17.0 billion in 2018 compared with RM17.7 billion in the previous year,” she said in PNB’s 2018 Annual Report released yesterday.
Notwithstanding this, Zeti said PNB managed to distribute RM15.0 billion in income distribution and bonus for the year, which is the largest since its inception.
In terms of product offerings, PNB has successfully launched two new variable price funds, namely ASN Equity 5 and ASN Sara 2, which performed favourably with more than 800 million units sold as at end-2018.
Meanwhile, Zeti said the developments throughout the world in 2018 were highly uneven
PNB’s consolidated coterminous proforma net income remained stable at RM17.0 billion in 2018 compared with RM17.7 billion in the previous year. Tan Sri Dr Zeti Akhtar Aziz, PNB chairman
whereby the world’s largest economy, the United States, expanded relatively strongly whilst other advanced economies, as well as emerging economies, including Malaysia, charted moderating growth.
“At the same time, monetary policy normalisation in the US influenced foreign fund outflows from emerging markets, whilst concerns over oil prices, intensifying trade tensions and geopolitical developments affected sentiment in the financial markets.
“The increased uncertainties saw global stock markets end the year lower. The domestic FTSE Bursa Malaysia KL Composite Index declined by 5.9 per cent in 2018, a sharp reversal from the gains made by public equities in 2017,” she added. — Bernama