KUALA LUMPUR: Public Bank’s unit, Public Mutual, launched its PB Asia Consumer Sector Fund (PBACSF) on Jan 3, 2019.
It said the fund’s objective is to achieve capital appreciation over the medium to long term by investing 75% to 98% of its net asset value (NAV) primarily in consumer-related equity and equity-related securities from selected Asian markets.
The countries include China, Hong Kong, Taiwan, South Korea, Japan, Singapore, Malaysia, Indonesia, Thailand, the Philippines and other permitted markets.
Public Mutual CEO Yeoh Kim Hong said the fund was positioned to benefit from Asia’s consumer trends on the back of the region’s sustained economic growth.
“Asia’s long-term economic growth is mainly driven by the region’s consumer spending amid higher disposable incomes, rising urbanisation and favourable demographic trends,” she said.
The initial issue price for PBACSF is 25 sen per unit during the 21-day initial offer period from Jan 3 to 23.
The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100.
During the initial offer period, the promotional sales charge is 5% of the initial issue price per unit.
Public Mutual managed RM80.15bil in funds as at end-November last year.