Vanguard Wellington™ Fund turns 90 this year. The keys to its success and longevity are found in Vanguard’s other actively managed funds.
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https://investornews.vanguard/3-investing-lessons-from-vanguard-wellington-funds-first-90-years/
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Vanguard Commodity Strategy Fund can complement a well-balanced portfolio and offer a potential hedge against the effects of future inflation.
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https://investornews.vanguard/commodities-investing-vanguards-new-way-to-diversify/
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KUALA LUMPUR: A member of the Felcra Berhad Board of Directors told the sessions court here today that Datuk Seri Bung Moktar Radin informed the then Finance Minister to recommend Felcra to invest RM150 million in Public Mutual Berhad Unit Trust in 2015.
Dr Habibah Suleiman, 72, said she did not know that the amount of investment sought was RM150 million as the sum approved at the board meeting was only RM50 million.
Bung Moktar was then the non-executive chairman of Felcra.
“The board did ask YB Datuk Bung Moktar about the difference in amount that was invested in the Public Mutual Trust Fund. YB Bung had stated that he took along a Felcra application letter to meet the Finance Minister for his approval. YB Bung told the board that the Finance Minister recommended to him to invest RM150 million.
“I assumed that he (Bung) had changed the amount of RM50 million to RM150 million after that recommendation,” she said during a key examination by deputy public prosecutor Roslan Mat Nor at a corruption case trial involving by Kinabatangan MP Datuk Seri Bung Moktar and his wife Datin Seri Zizie Ezette A. Samad.
The fifth prosecution witness said that based on the reply from the Minister of Finance Incorporated (MKD), it (MKD) had no objection to Felcra’s application to invest RM150 million.
“Other details (in the letter) also stated that the board of directors (Felcra) had to ensure that Felcra Berhad continuously monitored the investment’s performance so that early risk mitigation can be carried out in the event of any clear decline in the equity market,” she said.
She said a letter was submitted to the board after the investment had been made and the board also knew nothing about the amount (RM150 million).
Asked by Roslan as to when she first knew that the investment had been increased from RM50 million to RM150 milion, Habibah said “During the board of directors’ meeting in April 2005.”
Roslan: Why didn’t you object against the decision?
Habibah: The decision to raise the investment sum to RM150 million was made by the (then) Finance Minister, so who am I to object to it?
Lawyers M. Athimulan and Datuk K. Kumaraendran are representing Bung Moktar and Zizie Ezette, respectively.
According to the first charge, Bung Moktar, 60, who was at that time the non-executive chairman of Felcra, was accused of taking a bribe of RM2.2 million in cash from Public Mutual’s investment agent Madhi Abdul Hamid, 38, through his wife Zizie Ezette.
He was accused of committing the act as a reward for obtaining approval from the Minister of Finance II for Felcra to make a RM150 million investment in Public Mutual unit trust products.
The offence was allegedly committed at Public Bank Berhad, Taman Melawati Branch, No. 262-265, Jalan Bandar 12, Taman Melawati here, between 12.30pm and 5pm, on June 12, 2015.
For the second charge, Bung Moktar was accused of taking for himself a bribe of RM262,500 in cash from the same individual (Madhi) through an account of the bank’s investment product Public Islamic Treasures Growth Fund (PITGF) numbered 044797816 and registered under the name of Zizie Izette for the same purpose.
Bung Moktar was also accused of taking for himself a bribe of RM337,500 from Public Mutual’s investment agent, Norhaili Ahmad Mokhtar, 42, through a Public Ittikal Sequel Fund (PITSEQ) account numbered 044797824 registered under the name of Zizie Izette for the same purpose. Both offences were allegedly committed at the same location at 12.16pm and 12.28pm, on June 19, 2015.
The charges are framed under Subsection 17(a) of the MACC Act and punishable under Section 24(1) of the same Act which provides for imprisonment of not more than 20 years and a fine of not less than five times the amount of the bribe or RM10,000 whichever is higher, if convicted.
Zizie Izette, 41, a former actress, pleaded not guilty to three counts of abetting her husband on the same offences, at the same places, dates and times under Section 28(1)(c) of the MACC Act and punishable under subsection 24(1) which provides for imprisonment of not more than 20 years and a fine of not less than five times the amount of the bribe or RM10,000 whichever is higher, if convicted.
The hearing continues before judge Rozina Ayob tomorrow. – Bernama
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https://www.thesundaily.my/local/bung-moktar-said-finance-minister-recommended-rm150m-investment-witness-EC2136556
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This schedule indicates when year-end estimates are expected to post to the site.
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https://investornews.vanguard/mark-your-calendar-for-year-end-fund-distributions-3/
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In this 16-minute podcast, Frank Chism, Vanguard senior product manager, lays out the ABCs of commodities investing and explains Vanguard Commodity Strategy Fund.
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https://investornews.vanguard/discovering-vanguards-new-commodity-fund/
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Vanguard International Core Stock Fund offers an actively managed opportunity to give your portfolio broad international stock exposure with the chance to earn market-beating returns.
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https://investornews.vanguard/navigate-international-investing-waters-with-our-new-fund/
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View dividend and capital gains distribution estimates for Vanguard Managed Payout Fund.
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https://investornews.vanguard/updated-distribution-estimates-for-vanguard-managed-payout-fund-2/
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The tables below list Vanguard mutual funds and ETFs (exchange-traded funds) that will distribute quarterly income dividends in March 2020.
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https://investornews.vanguard/upcoming-capital-gains-information/
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See which Vanguard mutual funds are issuing “supplemental” fiscal 2020 distributions in March.
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https://investornews.vanguard/estimated-supplemental-fund-distributions/
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GENEVA and Washington, D.C. – A new coronavirus disease (COVID-19) Solidarity Response Fund will raise money from a wide range of donors to support the work of the World Health Organization (WHO) and partners to help countries respond to the COVID-19 pandemic. The fund, the first-of-its-kind, enables private individuals, corporations and institutions anywhere in the world to come together to directly contribute to global response efforts, and has been created by the United Nations Foundation and the Swiss Philanthropy Foundation, together with WHO.
“We are at a critical point in the global response to COVID-19 – we need everyone to get involved in this massive effort to keep the world safe,” said Dr. Tedros Adhanom Ghebreyesus, WHO Director-General. “We are immensely grateful to the UN Foundation and the Swiss Philanthropy Foundation for coming forward to help us set up this fund. A lot of people and institutions have been saying they want to contribute to the fight against the novel coronavirus. Now they can.”
The fund launches with major support already lined up, including from Facebook and Google who have instituted a matching scheme for funds raised through their platforms, while individual donors are also supporting the fund through www.COVID19ResponseFund.org.
“We can’t ignore the fact that this is a truly global problem – one that requires truly global solutions,” said Elizabeth Cousens, UN Foundation President and CEO. “The case for global cooperation could not be clearer – communities everywhere are affected, and people want to contribute. This new fund will create space for people everywhere, together, to fight this virus.”
Funds will go towards actions outlined in the COVID-19 Strategic Preparedness and Response Plan to enable all countries – particularly those most vulnerable and at-risk, and with the weakest health systems – to prepare for and respond to the COVID-19 crisis including rapidly detecting cases, stopping transmission of the virus, and caring for those affected.
WHO and its partners are seeking financing for protective equipment for frontline health workers; to equip diagnostic laboratories; improve surveillance and data collection; establish and maintain intensive care units; strengthen supply chains; accelerate research and development of vaccines and therapeutics; and take other critical steps to scale up the public health response to the pandemic.
The COVID-19 Solidarity Response Fund is hosted by two foundations, the UN Foundation (registered in the United States) and the Swiss Philanthropy Foundation (registered in Switzerland). Both foundations have established relationships with the World Health Organization, allowing for efficient transfer of financial resources to enable COVID-19 response efforts.
Apart from giving online at www.COVID19ResponseFund.org, the UN Foundation can also receive donations via check or wire from around the world by contacting COVID19Fund@unfoundation.org.
All donations made to the United Nations Foundation and Swiss Philanthropy Foundation are tax-deductible to the extent allowable by the law, where applicable (U.S. and Switzerland). Additionally, Swiss Philanthropy Foundation has partnered with Transnational Giving Europe to extend tax benefit to certain additional European countries where applicable.
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More:
COVID-19 Strategic Preparedness and Response Plan
Coronavirus disease (COVID-19) outbreak information
About the United Nations Foundation
The UN Foundation brings together the ideas, people, and resources the United Nations needs to drive global progress and tackle urgent problems. Our hallmark is to collaborate for lasting change and innovate to address humanity’s greatest challenges. With an insider’s knowledge and outsider’s flexibility, we stay agile to get things done. Learn more at: www.unfoundation.org.
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https://www.who.int/news-room/detail/13-03-2020-who-un-foundation-and-partners-launch-first-of-its-kind-covid-19-solidarity-response-fund
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