Affin Hwang Asset Management launches new PRS fund

KUALA LUMPUR: Affin Hwang Asset Management Bhd has launched a new private retirement scheme (PRS) fund, the Affin Hwang Aiiman PRS Shariah Moderate Fund, to cater to the rising demand for syariah-compliant funds and retirement planning.

"As our client base is expanding and more Malaysians acknowledge the importance of saving early for retirement, there is a growing pressure for us to keep innovating and introduce more retirement funds especially one that ticks the boxes from ethical and religious perspective," its chief marketing officer Chan Ai Mei said.

In a statement, she said that close to 70% of the Malaysian population are Muslims and therefore the demand for syariah products would continue to grow.

With the launch of Affin Hwang Aiiman PRS Shariah Moderate Fund, the company, formerly known as Hwang Investment Management Bhd, hoped it could reach a wider scope of investors and strengthen its market presence, especially in the Islamic wealth and asset management space. - Bernama