RHB said the CTS, which is voluntary in nature, was introduced as part of its rationalisation exercise.
KUALA LUMPUR: RHB Asset Management Sdn Bhd expects its assets under management (AUM) to reach RM55 billion by the year-end, driven by a series of conventional and Islamic fund launches throughout the year.
Managing director and regional head Eliza Ong said that as at end-March, the group's assets under management stood at RM53 billion.
"The Islamic business contributes close to 9% of our total AUM currently. So, we foresee it growing significantly over the next five years to a double-digit contribution in terms of the total AUM of the group size.
"In line with our innovation, we also hope to bring first-of-its-kind products in both the conventionaland syariah space over the next few months," she told reporters after the launch of the RHB Islamic ASEAN Megatrend Fund in Kuala Lumpur on Tuesday.
Undertaken by RHB Islamic International Asset Management, the equity growth fund is aimed at achieving medium to long-term capital appreciation, through investments in syariah-compliant securities of companies with high growth potential.
Ong said the fund currently stood at RM127 million and is expected to be distributed across the region.
"It is targeted at retail, high network, as well as corporate clients, offering both US dollar and ringgit clauses, allowing investors to make choices in terms of the form of diversification," she added.
The bottom-up portfolio with key stock selection criteria would be based on a company's strong positive free cash flow, its consistent dividend paying capability and preferably demonstrating annual dividend growth. - Bernama
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