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The Formative Years: 1959 -1979
The first two decades in the history of the unit trust industry were characterised by slow growth in the sales of units and a lack of public interest in the new investment product.
Only five unit trust management companies were established, with a total of 18 funds introduced over that period. The industry was regulated by several parties including the Registrar of Companies, The Public Trustee of Malaysia, Bank Negara Malaysia and the Ministry of Domestic Trade and Consumer Affairs.
The 1970s also witnessed the emergence of state government sponsored unit trusts, in response to the Federal Government’s call to mobilise domestic household savings.