Basic Info Guide on ASB

Amanah Saham Bumiputera (ASB) is the second unit trust schemes. It was launched on May 1989. Unit trust in Malaysia is like mutual fund in the United States. ASB is only open to Bumiputeras, which roughly means the native peoples of Malaysia and therefore excludes historical immigrant groups such as Chinese and Indians. ASB has an input limit of RM 200,000, meaning that one can only invest new money up to that point. There is, however, no upper limit on the value of an account, so capital gains which are retained in the account are allowed to cause it to exceed RM 200,000. Capital gains in ASM accounts are not subject to taxes. Dividends are paid each year and put back into the account so that compounding is achieved.