KUALA LUMPUR: Public Mutual launched PB Vietnam Global 40 Fund (PBVG40F) on Friday which would enable investors tap into long-term growth opportunities in the country and also globally.
Public Mutual, a unit of Public Bank, said PBVG40F may invest up to a maximum of 40 stocks.
The fund aims to invest at least 20% of its net asset value (NAV) in the Vietnam market, with the balance in global markets including the US, Europe and Asia Pacific.
To achieve capital growth, PBVG40F will invest 75% to 98% of its NAV in equities, with the balance invested in fixed income securities and liquid assets.
Public Mutual CEO Yeoh Kim Hong said Vietnam is an attractive destination for foreign direct investments (FDI) due to its business-friendly environment, attractive investment incentives and competitive labour costs.
“It is also a potential beneficiary of the relocation of production facilities amid the ongoing global trade tensions, ” she said.
Yeoh added Vietnam is well-positioned for an economic recovery from the Covid-19 outbreak due to its early containment efforts.
The country’s economic growth is envisaged to remain in positive territory for 2020, supported by the government’s monetary and fiscal stimulus measures.
The initial issue price for PBVG40F is 25 sen per unit during the 21-day initial offer period from Friday to Oct 8.
The minimum initial investment amount is RM1,000 while the minimum additional investment amount is RM100.
Public Mutual is Malaysia’s largest private unit trust company. As at end-July, the fund size managed by the company was RM95.2bil.
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