Friday, 23 December 2016

PNB reveals secret of how it makes money to pay high dividends (2)

Article in The Star: "PNB optimistic about 2017"

Lots of numbers are mentioned, but the most important number (per managed fund) is missing:

"The increase/decrease in the Net Asset Value (marked to market) per unit over 2016"

This is a pretty basic number, essential to measure the long term performance in the long run.

Once we know this number we can compare it to other funds, or to the total (that is taking into account dividends received) returns on Bursa.

A simple question: was this number positive over 2016? And how does it compare to the price investors pay per unit?

Disappointing that this all important number is not given, and that the journalists present didn't ask for it.

I wrote before about this subject.


  1. Omg, let me get it straight, NAV was not given? Then what do they based on to evaluate a fund?? How do they give out dividend then?? If not Nav then what?

  2. I'm really not an expert on these funds, but do wonder how they can sustain such high payouts year in, year out - especially compared to the broader market in which they invest. Is it a Ponzi scheme?