ASNB Introduces RIA, a New Robo Advisor to Simplify Investing
by Fintech News Malaysia March 12, 2024Amanah Saham Nasional Berhad (ASNB), a subsidiary of Permodalan Nasional Berhad specialising in unit trust management, announced the launch of the Robo Investment Advisor (RIA) feature in its myASNB application.
RIA is designed to tackle common hurdles associated with investment decisions, such as financial literacy and limited access to professional advice, by providing a user-friendly platform tailored to individual needs. The robo advisor is also able to automate key tasks like recurring deposits through its Auto Labur feature.
The feature enables users to create personalised investment portfolios from RM100, making it feasible for both seasoned investors and novices to participate in the financial market.
The service leverages advanced algorithms to offer customised investment solutions based on the user’s risk tolerance and financial objectives. RIA ensures that portfolios are consistently aligned with these goals through automated rebalancing and dividend reinvestment strategies.
RIA supports several local payment options and is available in Bahasa Malaysia and English. ASNB is also waiving RIA’s management fee (wrap fee) of 0.30% per annum until 31 December 2024, as part of its promotional launch offer.
ASNB, licensed by the Securities Commission Malaysia as a Digital Investment Manager, plans to roll out this feature in phases over the next few weeks.
Prospective users can access RIA by downloading the myASNB app and registering for an account. Existing users will find RIA readily available for a new investment experience within the app.
Muzzaffar Othman
“We are excited to introduce RIA in the Malaysian market, marking a significant stride towards making investing more inclusive and accessible to our customers.
This initiative resonates deeply with PNB’s renewed purpose ‘to uplift the financial lives of Malaysians across generations. With the introduction of RIA, investing is as simple as a touch, putting the power in our unitholders’ hands to navigate their financial future.”
said Muzzaffar Othman, CEO and Executive Director of ASNB.
