KUALA LUMPUR:'' Public Mutual is launching two Islamic funds, Public Islamic Alpha-40 Growth Fund (PIA40GF) and Public Islamic Infrastructure Bond Fund (PIINFBF) on Tuesday, Nov 16.
Public Mutual said on Monday, Nov 15 the PIA40GF is an Islamic equity fund that seeks to achieve capital growth by investing up to a maximum of 40 selected Shariah-compliant blue chip stocks, index stocks and growth stocks listed primarily on Bursa Securities and regional markets.
As for PIINFBF, the Islamic bond fund seeks to provide annual income to investors through investments in sukuk of companies in the infrastructure sector.
The initial issue price of PIA40GF is 25 sen per unit and for PIINFBF, it is RM1 per unit during the 21-day initial offer period from Nov 16 to Dec 6.
The minimum initial investment for both funds is RM1,000 and the minimum additional investment is RM100. During the offer period, special promotional service charges as low as 5% of initial issue price per unit are extended to the purchase of units of PIA40GF.
Public Mutual chief executive officer Yeoh Kim Hong said PIA40GF adopts a more focused investment strategy and is able to achieve potentially higher returns over the medium- to long-term as it concentrates its investment in a portfolio of not more than 40 stocks.
She said 88% of the securities listed on Bursa Malaysia are Shariah-compliant representing about two-thirds of Bursa Malaysia's market capitalisation.
Yeoh said investors seeking to invest in securities that comply with Shariah principles will have access to an extensive selection of Shariah-compliant stocks across diversified industries and sectors via PIA40GF.
The equity exposure of PIA40GF will be from 75% to 98% of its NAV. The fund may invest up to 30% of its net asset value in selected foreign markets, which include Singapore, Taiwan, South Korea, Japan, Australia, New Zealand, Hong Kong, China, Thailand, Indonesia, Philippines and other markets.
As for PIINFBF, it allows investors to access the sukuk market, which is usually inaccessible to the average investor as it is a market for institutions where the standard transaction lot is RM5 million.
Sukuk issued by companies in the infrastructure sector are generally underpinned by predictable cash flows and stable income stream over the respective issuer's concession period.
Yeoh said the infrastructure companies that PIINFBF may invest in include power plant concessionaires, telecommunication service providers, toll-road concessionaires and port operators.
PIINFBF invests up to 98% of its NAV in a portfolio of sukuk of companies involved in the infrastructure sector and the balance of its assets in Islamic money market instruments.
The fund may invest up to 25% of its NAV in foreign sukuk, which include Singapore, United Kingdom, Japan, Australia, Hong Kong and other permitted markets.
Public Mutual said on Monday, Nov 15 the PIA40GF is an Islamic equity fund that seeks to achieve capital growth by investing up to a maximum of 40 selected Shariah-compliant blue chip stocks, index stocks and growth stocks listed primarily on Bursa Securities and regional markets.
As for PIINFBF, the Islamic bond fund seeks to provide annual income to investors through investments in sukuk of companies in the infrastructure sector.
The initial issue price of PIA40GF is 25 sen per unit and for PIINFBF, it is RM1 per unit during the 21-day initial offer period from Nov 16 to Dec 6.
The minimum initial investment for both funds is RM1,000 and the minimum additional investment is RM100. During the offer period, special promotional service charges as low as 5% of initial issue price per unit are extended to the purchase of units of PIA40GF.
Public Mutual chief executive officer Yeoh Kim Hong said PIA40GF adopts a more focused investment strategy and is able to achieve potentially higher returns over the medium- to long-term as it concentrates its investment in a portfolio of not more than 40 stocks.
She said 88% of the securities listed on Bursa Malaysia are Shariah-compliant representing about two-thirds of Bursa Malaysia's market capitalisation.
Yeoh said investors seeking to invest in securities that comply with Shariah principles will have access to an extensive selection of Shariah-compliant stocks across diversified industries and sectors via PIA40GF.
The equity exposure of PIA40GF will be from 75% to 98% of its NAV. The fund may invest up to 30% of its net asset value in selected foreign markets, which include Singapore, Taiwan, South Korea, Japan, Australia, New Zealand, Hong Kong, China, Thailand, Indonesia, Philippines and other markets.
As for PIINFBF, it allows investors to access the sukuk market, which is usually inaccessible to the average investor as it is a market for institutions where the standard transaction lot is RM5 million.
Sukuk issued by companies in the infrastructure sector are generally underpinned by predictable cash flows and stable income stream over the respective issuer's concession period.
Yeoh said the infrastructure companies that PIINFBF may invest in include power plant concessionaires, telecommunication service providers, toll-road concessionaires and port operators.
PIINFBF invests up to 98% of its NAV in a portfolio of sukuk of companies involved in the infrastructure sector and the balance of its assets in Islamic money market instruments.
The fund may invest up to 25% of its NAV in foreign sukuk, which include Singapore, United Kingdom, Japan, Australia, Hong Kong and other permitted markets.
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