RHB Asset Management targets RM58b assets under management

  • Business
  • Wednesday, 28 Jan 2015

KUALA LUMPUR: RHB Asset Management Sdn Bhd, a unit of  RHB Investment Bank Bhd, targets to grow its asset under management (AUM) to RM58bil this year.

As of end-2014, it had recorded RM48.6bil in AUM.

Chief executive officer and regional head of group retail distribution Ho Seng Yee said he was optimistic of achieving the target.

Among the key drivers to achieve the RM58bil target, Ho said was RHB's strong presence in the market coupled with the growing business opportunities as well as the group's plans to launch 25 funds in other Asean regional market this year.

"This is a fair target looking at the plans we have, as we will be unveiling16 new products for the Malaysian market this year," he said.

He was speaking at a media briefing after launching RHB-OSK Global Equity Stabiliser Fund, which will be a feeder fund to the Schroder Global Equity Stabiliser (GES) fund.

The new fund, which is the first for the year for RHB is targeted for the affluent market.

Ho said subscription of funds was open to investors with net assets worth RM3mil and also those in a partnership with total net assets exceeding RM10mil.

"Through the GES fund, we are targeting to raise RM200mil within the 12 months," he said. 

The new GES fund is expected to give a dividend yield of 4.7% and capital gains in stocks.

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