RHB Unit Trust funds grow to RM1.3bil

  • Business
  • Thursday, 07 Aug 2003

Tan Lib Chau

RHB Unit Trust Management Bhd has achieved a 42% growth in its fund size to RM1.3bil and recorded sales of RM503mil for the financial year ended June 30. 

The substantial growth in fund size has expanded its market share to 4.75%, said chief executive officer Tan Lib Chau. 

He was speaking at the distribution of RHB Mudharabah Fund's cleansed proceeds in Kuala Lumpur yesterday. 

RHB Unit Trust's fund size hit the one-billion-ringgit mark in March. 

It is now the sixth largest in the industry in terms of size. 

“The growth of our funds has, in fact, been very encouraging since the last financial year,'' Tan said. 

He added that the previous financial year had also been one of the company’s best years in terms of sales. 

Going forward, the company would continue to identify investors' needs and came up with innovative funds to serve investors' appetite, Tan said. 

A total of 34 charitable organisation received donations in cash and kind amounting to RM526,110 under the RHB Mudharabah Fund Community Programme 2003

The fund has a size of RM216mil. 

To ensure that the fund remains syariah-compliant, profits made from investments are cleansed annually, and the cleansed proceeds are donated to charitable organisations. 

According to Tan, RHB Unit Trust has distributed RM2mil of cleansed proceeds to the needy and under-privileged since the launch of RHB Mudharabah Fund in 1996. 

 Stock Watch On RHB

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