Amanah Saham Nasional Berhad (ASNB), the unit trust company of Permodalan Nasional Berhad (PNB), is offering a 45% discount on registration for Hibah Amanah and Trust Declaration for the period of 1 August to 31 October 2018.
During the promotion campaign, investors only need to pay a registration fee of RM100 instead of the standard fee of RM180 for Hibah Amanah (for Muslim investors) or Trust Declaration contract (for non-Muslim investors). In each contract, investors may nominate up to 10 beneficiaries for their investments in ASNB unit trusts.
ASNB Chief Executive Officer & Executive Director, Mohammad Hussin said the promotion is aimed at encouraging ASNB investors to take proactive steps in managing their unit trust assets while they are still able to do so, in order for the assets to be easily claimed by the beneficiaries.
“Based on our experience, cash investments in ASNB unit trusts are usually required by the family members for daily living costs while they wait for other assets of the deceased to be distributed.
“With Hibah Amanah or Trust Declaration, investments in ASNB unit trusts can be claimed first and the beneficiaries only need to wait for a minimum of 30 days for the transfer of the unit trusts,” he said.
Unlike the concept of nominees, where the nominee only acts as the executor for the funds inherited from the deceased, Hibah Amanah and the Trust Declaration enable the named persons to be the absolute beneficiaries of the assets.
Elaborating further, Mohammad said since Malaysian law categorises unit trusts as private property, the claim process for ASNB unit trust is subject to probate and administrative law.
“Hence without Hibah Amanah, the claim process by the beneficiaries of a Muslim investor is subject to probate and administrative law and the resolution of obtaining a probate is in force even if the investor leaves a will,” he said.
The process of obtaining this power of attorney or probate can sometimes be complicated and time consuming, especially if there is no understanding between the family members.
According to Mohammad, if the investor subscribes to Hibah Amanah or Trust Declaration, the respective beneficiaries do not have to appoint a power of attorney or probate.
“To make a claim, the beneficiaries only need to visit any ASNB Branch,” he said.
A special feature of Hibah Amanah is that investors can choose anyone whom they want to appoint as their beneficiaries, including their adopted children.
To register for Hibah Amanah or Trust Declaration, investors may obtain the registration form at any 30 ASNB Branches nationwide or download it from the ASNB website at www.asnb.com.my.
For the convenience of investors, all ASNB Branches are open on the third Saturday of each month during the campaign period namely on 18 August, 15 September and 20 October 2018.
ASNB is responsible for managing and marketing 12 unit trusts, of which six are fixed price funds namely Amanah Saham Bumiputera (ASB), ASB2, Amanah Saham Didik (ASD), Amanah Saham Wawasan 2020 (ASW), Amanah Saham Malaysia (ASM) and Amanah Saham 1Malaysia (AS 1Malaysia).
Meanwhile the variable price funds are Amanah Saham Nasional (ASN), ASN Equity 2, ASN Equity 3, ASN Imbang 1, ASN Imbang 2 and ASN Sara 1.
