PMB Investment lowers 2016 target for assets under management

Majlis Amanah Rakyat (Mara) headquarters at Medan Mara, Jalan Raja Laut, KL. (Pix taken by Hafidz for Star Online)

KUALA LUMPUR: PMB Investment Bhd, a member of Pelaburan Mara Bhd, has revised downwards its target for assets under management (AUM) to RM1.6bil from RM2bil next year.

PMB investment chief executive officer Ameer Ali Mohamed said as at Nov 30, 2015, the fund management company had achieved RM1.2bil in AUM, driven by its encouraging investment position in the syariah-compliant unit trust investment funds.

“Given the challenging current economic environment, we are being realistic as the trends in equity market such as FBM Syariah and FTSE Bursa Malaysia KLCI indices are down since July 2014 and this is expected to continue into 2016.

“Due to this, we don’t think we are able to achieve RM1.4bil in AUM this year as mentioned previously in September,” he told reporters at the launch of its Brand Ambassador Programme.

Ameer Ali said PMB Investment, which manages 13 unit trust funds including 10 equity funds, would continue to invest in the equities market of up to 70% to 95% of AUM.

“Currently, direct investments made are all local, however, we do review our investments every three months and even consider looking at overseas market,” he said.

Earlier, Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob announced that PMB Investment’s unit trust, PMB Shariah Aggresive Fund, has recorded a return of 31% for a one-year period ending Dec 4, 2015, making it the best performer to-date and has been ranked top in the Islamic Equity Fund Malaysia in The Edge-Lipper Table since April 2015. 

He said the fund also managed to record a return of 85% and 107% for the three-year and five-year period, respectively. 

PMB Shariah Growth Fund took the second spot for its one-year performance with a return of 26%, and 55% and 80% returns for three years and five years, respectively.

“Its three other funds -- PMB Dana Bestari achieves a return of 12.5%, PMB Shariah Premier Funding (11.7% return) while PMB Dana Mutiara recorded 9.8% return for the year,” he said.

Currently, five of PMB Investment’s unit trust funds are among the top 10 out of 63 funds in the Islamic Equity Fund Malaysia in The Edge-Lipper Table for one year.

Ismail Sabri said the performance by PMB Investment was part of Majlis Amanah Rakyat’s (Mara) Transformation Plan, which in turn forms the ministry’s transformation plan. - Bernama

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