Public Mutual launches 2 equity funds

KUALA LUMPUR: Public Mutual has launched two new unit trust funds, Public Advantage Growth Equity Fund (PAVGEF) and Public Islamic Advantage Growth Equity Fund (PIAVGEF).

The country’s largest private unit trust company said on Wednesday PAVGEF focuses its investments in companies with potential earnings growth that are above the average of the market.

The fund’s objective is to achieve capital growth over the medium to long-term period. 

As for the PIAVGEF, the Shariah-compliant fund also that adopts the same investment approach.

Public Mutual said PAVGEF and PIAVGEF would invest between 75% and 98% of its net asset value (NAV) in equities. The funds will cover a well-diversified portfolio of growth stocks, index stocks and blue chip stocks. 

“Both funds have a broad domestic equity exposure that enables investors to benefit from the recent retracement in the domestic market. The balance of the funds’ NAV will be invested in fixed income securities and liquid assets which include money market instruments and deposits,” it said.

The initial issue price for PAVGEF and PIAVGEF is 25 sen per unit during the 21-day initial offer period from Sept 8 to 28. 

The minimum initial investment for the funds is RM1,000 and the minimum additional investment is RM100. 

Investors who purchase during the initial offer period can enjoy a promotional sales charge as low as 5.0% of the initial issue price per unit.