KUALA LUMPUR: Maybank Islamic Asset Management Sdn Bhd (MIAM) has launched its wholesale fund, the Maybank Islamic Strategic Income Fund (MISI Fund), developed in strategic collaboration with Maybank Islamic Bhd.
In a statement, MIAM said the MISI Fund is designed to enhance corporate and institutional investors' cash and liquidity management needs by offering a Shariah-compliant solution with the potential to generate net returns of up to 3.7% - 3.8% per annum.
The fund also provides a high level of liquidity, offering T+1 business day redemption, providing quick access to funds.
The MISI Fund aims to provide investors with a consistent income stream by investing a minimum of 30% of the fund’s net asset value (NAV) in ringgit-denominated sukuk with a minimum credit rating of AA3 by RAM or an equivalent rating by MARC and up to 70% of the Fund’s NAV in Islamic liquid assets.
“With a target assets under management (AUM) of RM200mil in FY2024, this fund underscores our leadership in Shariah-compliant asset management and highlights the strength of our collaboration with Maybank Islamic,” MIAM chief executive officer Belqaizi Taufik said.
We believe that the MISI Fund will offer corporate and institutional investors higher potential tax-exempted returns and high liquidity through investments in Sukuk, Shariah-compliant money market instruments, and the General Investment Account in collaboration with Maybank Islamic.”
