Amanah Saham Nasional Berhad (ASNB) has finally started charging investors who use its Robo Investment Advisor (RIA). Starting 1 January 2025, the unit trust management company will charge users a wrap fee of 0.3% per annum, which was previously waived up until 31 December 2024.
The wrap fee is accrued on a daily basis based on your investment amount and is charged monthly in arrears. Moreover, ASNB states that the 0.3% fee covers all costs associated with managing your investment through Ria, including fund management fees, custodian fees, and other administrative costs.
In case you are unfamiliar with Ria, it is the unit trust’s beginner-friendly automated investment feature available exclusively through the myASNB app. To use it, you will need to be at least 18 years old and invest a minimum of RM100.
The app will suggest a risk profile for you based on your age and income, ranging from very conservative to very aggressive, and allocate your assets accordingly across various funds. Over time, the bot will automatically rebalance your asset allocation to optimise returns and minimise risk. Through Ria, there will be up to three dividend payouts every year, depending on the performance of the invested funds.
(Source: ASNB)
