1st new Robo advisor of 2024 by ASNB, sikit sikit lama lama jadi bukit
Amanah Saham Nasional Berhad (ASNB) is a major investment company in Malaysia and they are known for being the fund managers for Amanah Saham group of funds.
The company has reveal their in-app Robo advisor called RIA (Robo Investment Advisor ?). The robo advisor can be found within the MyASB mobile app. MyASB is ASNB's mobile app for purchasing/selling ASNB's funds. A roboadvisor is an automated online platform that provides investment advice and portfolio management services based on algorithms and user input.
RIA will recommend the optimal portfolio based on the user's risk profile, ranging from very conservative to very aggressive. Users will answer questionnaires to determine their risk profile, and RIA will then allocate their funds across ASNB variable-rate funds, including ASN Equity Global (a global equity fund), ASN Equity Malaysia (a Malaysia-centric fund), and ASN Sukuk (an Islamic bond fund). For those who don't want to use the suggested portfolio, multiple portfolios based on different risk profiles can also be created.
There is no allocation to ASNB's popular fixed rate funds like ASM1, ASM3, ASW2020.
RIA charges a management fee of 0.3% per annum. The management fee is considered affordable as most other robo advisor charges slightly above this rate. The starting investment amount is only RM100, a good move to attract GenZ. Income distribution is likely to be 3 times a year if available.
On the topic of Islamic finance, here's what ASNB on the Shariah compliance of their portfolios.
In my opinion, using RIA is more worth it than purchasing outright the ASNB variable rate funds as sale charges/management fee is 0.3% per annum only. If you buy ASNB's variable rate funds directly, you will incur sales charges and on top of that need to pay another amount on management fees.
The RIA robo advisor is a good start to get people to participate in ASNB's variable rate funds. ASNB is currently waiving the management fee for RIA, their Robo Investment Advisor feature within the myASNB app. The waiver is for the management (wrap) fee of 0.3% per annum, and it’s valid until 31 December 2024.
In my opinion, if you are currently using TouchNGo GoInvest or MyASB app to put funds into ASNB's variable rate funds, do choose to use RIA (via MyASB) instead as it is a cheaper option.
ASNB is a subsidiary of the larger PNB (Permodalan Nasional Berhad) group, which also operates another robo-advisor called RAIZ Invest. Unlike RIA, RAIZ has access to non-PNB funds and includes a cashback investing feature for spare change.
Updates 20240501
I opened 2 test portfolio (Moderately Conservative, Moderately Aggressive) and it's getting some dividends already (called Robo Dividend).
Updates 20240511
I made it into the earliest 1st 1,000 folks who transacted on RIA so they gave me an RM10 Grab gift voucher, woohoo !
Updates 20241124
After diligently savings for months, my RIA portfolio has finally registered a very tiny profit.
I see some dividends coming into my account. RIA terms it as "Robo Dividend".
RIA Robo advisor Referral
ASB RIA is running a new user referral promotion. Sign up using my MyASB referral code XQBOXK, and we will both receive RM10 as a reward after you top up RM100.
Please note that the RIA robo-advisor is integrated within the MyASB app (Amanah Saham Berhad's mobile app) and is not a separate RIA app. I believe scammers will eventually create fake RIA apps in app stores to trick people.
You can download the MyASB app from these links :
📍Links
https://www.asnb.com.my/ria_EN.php
