Principal Asset Management launches Islamic Asean equity fund


  • Investment
  • Friday, 17 Jan 2020

Principal Asset Management Bhd (Principal) has launched the Principal Islamic Asean Equity Fund to offer investors the opportunity to capitalise on a diversified portfolio of equity investments that adhere to Shariah principles.

KUALA LUMPUR: Principal Asset Management Bhd (Principal) has launched the Principal Islamic Asean Equity Fund to offer investors the opportunity to capitalise on a diversified portfolio of equity investments that adhere to Shariah principles.

In a statement on Friday, chief executive officer Munirah Khairuddin said the fund seeks capital growth over the medium to long term through an Islamic collective investment scheme, which invests primarily in the Asean region.

"Designed as a Shariah-compliant feeder fund, the fund will invest at least 95 per cent of its net asset value (NAV) in the Islamic Asean equity fund, a portfolio managed by Principal Islamic Asset Management (Ireland) Plc, formerly known as CIMB-Principal Asset Management (Ireland) Plc, and will maintain up to five per cent of its NAV in Islamic liquid assets, ” she said.

Munirah said the latest offering was in line with the company’s plan to expand its Islamic product offering by building and capitalising on its core expertise in the Asean market and established track record in holistic Islamic asset management.

"These offerings will meet the growing demand for Islamic products and help clients meet their financial objectives with integrity, ” she said. - Bernama


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