Public Mutual launches Public Navigator Growth Fund

Public Mutual manages RM69.9bil of funds.

KUALA LUMPUR: Public Mutual has launched a new fund, Public Navigator Growth Fund (PNVGF) which targets to achieve 8% annualised returns over the long term.

The country's largest private mutual fund said on Monday the fund will invest in stocks with structural growth themes and reasonable valuations as well as stocks which are underpinned by strong fundamentals. 

Up to 98% of the fund’s net asset value (NAV) will be invested in equities or fixed income securities. 

Besides the domestic market, PNVGF also invests in global markets such as the US and Europe as well as regional markets in Asia Pacific. 

It said the strategy will enable the fund to capitalise on the trends and investment opportunities in both developed and developing countries.

The initial issue price for PNVGF is 25 sen per unit during the 21-day initial offer period from Jan 9 to 29. 

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

Investors who purchase during the initial offer period can enjoy a promotional sales charge of 5% of the initial issue price per unit.
 
During the period of Jan 9 to 29, investors opting for direct debit instruction with PNVGF will enjoy a promotional sales charge of 5.25% of NAV per unit for as long as the direct debit is active.

As at end-November 2016, the fund size managed by the company was RM69.9bil.