This document has been made available in electronic format by the International Co-operative Alliance (ICA) 

ANGKASA Unit Trust : Drive to merge co-operative funds (1998)
 

Dec., 1998
(Source: Co-op Dialogue, Vol. 8, No. 3, Oct.-Dec., 1998, pp. 33)
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The ANGKASA Unit Trust (ASA) was launched on April 24, 1998 by the then Deputy Prime Minister of Malaysia, Datuk Seri Anwar Ibrahim, at the ANGKASA Auditorium at Wisma Ungku A. Aziz in Kelana Jaya.

The ASA scheme is an investment instrument to pool the financial resources of the people for collective investment in the share market and other investment instruments that can bring good returns.

It is governed by the Trust deed and monitored by the Securities Commission, and adheres to the Unit Trust Industry Guidelines and the Securities Act.

It has been established specifically for co-operatives that have excess cash and reserve funds that can be invested as liquidity, securely and with reasonable returns.

The authorised size of fund at the moment is 300 million units. Pelaburan Johor Berhad (PJB) has been appointed as fund manager while Amanah Raya Berhad will be the trustee.

This can help avert the use of reserve funds as revolving capital because it is for the purpose of accommodating unexpected losses.

The ANGKASA Unit Trust gives co-operatives the opportunity to invest indirectly in companies listed on the Stock Exchange and other investment instruments where the risk is greater for individual investment. The investment strategy to be employed by the ANGKASA Unit Trust is to invest in companies with potential for progress in the medium to long term.

- Source : ASA Prospectus