Public Islamic Asean Growth Fund will invest up to 98% of its net asset value (NAV) in a portfolio of Shariah-compliant investments primarily in the Asean markets.
KUALA LUMPUR: Public Bank’s unit Public Mutual launched its Public Islamic Asean Growth Fund (PIASGF) on Thursday.
It said the fund will invest up to 98% of its net asset value (NAV) in a portfolio of Shariah-Compliant investments primarily in the Asean markets.
The fund will be highly diversified across various sectors, focusing on Shariah-compliant blue chips, index and growth stocks in the Asean markets including Malaysia, Indonesia, Singapore, Thailand, the Philippines, Vietnam and other permitted markets.
Public Mutual CEO Yeoh Kim Hong said the new fund was well-positioned to benefit from Asean's economic growth, which is underpinned by its rising consumer demand, sustained investment spending and resilient export growth.
“In addition, the region’s rapid urbanisation, favourable population dynamics and relatively young labour force, will also help support Asean’s economic performance in the years ahead.
“Hence, this fund is suitable for investors seeking to capitalise on the long-term growth potential of Shariah-compliant investments in the Asean region and are able to withstand the market cycles,” she added.
The initial issue price is 25 sen per unit during the 21-day initial offer period from Thursday until July 11. The minimum initial investment amount is RM1,000 while the minimum additional investment amount is RM100.
Investors who purchase during the initial offer period can enjoy a promotional sales charge as low as 5.00% of the initial issue price per unit.
Public Mutual is Malaysia’s largest private unit trust company with more than 130 unit trust funds under its management. As at end-April 2018, the fund size managed was RM82bil.
Limited time offer:
Just RM5 per month.
