SHAH ALAM: Permodalan Nasional Bhd’s wholly owned subsidiary Amanah Saham Nasional Bhd (ASNB) expects to onboard more than one million unitholders yearly to invest in its unit trusts through its partnership with TNG Digital Sdn Bhd’s (TNGD) eWallet, GOinvest feature launched today.
According to CEO Muzaffar Othman, it has 12 million individual unitholders and 15 million unit trust accounts, while TNGD has about 21 million users. Through the partnership, it hopes to tap into the significant overlap between its unitholders and the latter’s users.
“We don’t have the numbers yet, however we hope to onboard a million people annually as we have a big overlap. Hence, we hope for at least a million … or more,” he told reporters during the press conference at the launch of ASNB Investment on Touch ‘n Go eWallet today.
ASNB will be the first and only eWallet agent to offer investments in its unit trusts for Malaysians through the Touch ‘n Go eWallet.
On target, he said that the partnership is geared more towards financial inclusion and financial literacy “to grow investment and to save for the future”.
“We hope that through this collaboration, there would be more unitholders coming in via this channel, enabling them to save and invest with us … less of a sales or financial target at this moment in time,” he said.
Meanwhile, TNGD CEO Alan Ni said that the introduction of ASNB to its growing financial services portfolio aligns with its commitment towards digital inclusion and making financial investment accessible for everyone.
“With a relatively low risk and long-term investment instrument, our users can save and invest with a consistent and competitive return on investment through ASNB. With an incredibly low minimum initial investment of just RM10, over 12 million ASNB unitholders can now effortlessly invest through GOInvest in the Touch ‘n Go eWallet.
“This innovative partnership further diversifies GOinvest’s offerings to a total of 26 unit trusts that caters to different risk appetites, while making online investments convenient and affordable for the masses,” remarked Ni.
The partnership enables Malaysians to subscribe to all 17 ASNB unit trusts via the feature in the eWallet, which will complement the nine unit trusts that are currently available.
Existing ASNB unitholders can now invest in ASNB unit trust through the feature such as checking portfolio performances and make new investments.
New users are also encouraged to access their ASNB account through the eWallet for hassle-free investing once they have completed the easy online registration via the MyASNB app.
For the second phase, TNGD chief financial services officer Desmond Teoh said new users from ASNB can onboard themselves, (which we expect to launch) by the end of the year or first quarter of next year.
In conjunction with the launch, TNGD and ASNB are running a “Labur Online Laju” cashback campaign between Aug 16 to Sept 30, to reward users who subscribe to ASNB Investment GOinvest in the Touch ‘n Go eWallet.