Public Mutual launches healthcare global equity fund


Public Mutual CEO Yeoh Kim Hong said the Public Healthcare-Global Equity Fund will invest at least 30% of its net asset value in healthcare-related stocks and collective investment schemes, with the balance in other sectors with resilient growth and long-term structural trends

KUALA LUMPUR: Public Bank’s unit, Public Mutual, launched the Public Healthcare-Global Equity Fund (PHGEF) on Tuesday.

It said the global equity fund will invest primarily in the healthcare sector as well as other sectors with long-term growth prospects in the global markets.

PHGEF aims to invest 75% to 98% in equities, with up to 98% in foreign assets.

Public Mutual’s CEO Yeoh Kim Hong said investors seeking to tap into global healthcare trends as well as the long-term potential of the global markets may consider investing in PHGEF.

“PHGEF will invest at least 30% of its net asset value in healthcare-related stocks and collective investment schemes, with the balance in other sectors with resilient growth and long-term structural trends, ” she said.

Public Mutual said generally, the growth prospects of the healthcare industry are expected to be underpinned by the growth in global healthcare spending, increasing life expectancy and rising demand for higher-quality healthcare.

According to Global Healthcare Outlook 2020 by Deloitte, global healthcare spending is estimated to grow at a compounded annual growth rate (CAGR) of 5% between 2019 and 2023, driven by a growing and ageing population as well as the greater accessibility of healthcare treatment.

Moreover, pharmaceutical and biotechnology companies as well as companies that manufacture medical equipment and devices stand to benefit from the current Covid-19 pandemic.

Over the long run, revenues of these companies should be supported by the increase in healthcare expenditure.

The initial issue price for PHGEF is 25 sen per unit during the 21-day initial offer period from Tuesday until Nov 9.

The minimum initial investment is RM1,000 while the minimum additional investment is only RM100. The sales charge during this offer period is 4.50%.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 18
Cxense type: free
User access status: 3

   

Did you find this article insightful?

Yes
No

93% readers found this article insightful

Next In Business News

UOA Development posts 3Q earnings increase on revaluation of corporate tower
TDM posts net profit of RM21.75mil on improved sales
Iconic’s 2Q net profit surges to RM3mil
TM posts improved earnings in Q3
Notion VTec posts turnaround in 4Q, upbeat on outlook
Bursa swings higher on vaccine news, crude oil prices
Inflation falls for eighth month in October
MyEG's 9M results beat CGS-CIMB Research's forecast
Positive long-term outlook for Leong Hup Industries, AmInvest Research says
Ringgit opens higher amid firmer oil price

Stories You'll Enjoy