Najib launches RM10 bln ASB2 aimed at GenY

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Kuala Lumpur: Prime Minister Najib Razak today launched Amanah Saham Bumiputera 2 (ASB 2) with a fund size of RM10 billion.

Managed by Permodalan Nasional Berhad (PNB), ASB 2 is a fixed price fund of RM1.00 per unit, targetting Bumiputeras aged between 19 years and  34 years.

Prime Minister Najib Razak announced two incentives at the launch: (i) those who register between today until Dec 31, 2014 will receive 10 free units which will be credited to their account, and (ii) those who register today at Stadium Merdeka will receive a voucher worth RM50 for the purpose of buying the ASB 2 units.

To encourage bumiputera participation, particularly GenY, the fund capped the maximum number of subscription to 50,000 units for junior subscribers (Akaun Bijak) and 200,000 units for adult subscribers (Akaun Dewasa).

Present at the launch were PNB chairman, Tun Ahmad Sarji, PNB CEO Tan Sri Hamad Kama Che Piah, Minister of International Trade and Industry Datuk Seri Mustapha Mohamed and Perodua CEO Datuk Aminar Rashid.