KUALA LUMPUR (Apr 13): Manulife Asset Management Services Berhad (MAMSB) is launching its Manulife Investment Shariah Progress Plus Fund (the Fund), a fund specifically designed for investors seeking diversified Shariah-compliant equity opportunities within the booming economy in the Asia Pacific region.

In a statement today, MAMSB said the Fund can invest up to 30% of its net asset value (NAV) in Shariah-compliant equities in regional markets, including but not limited to Malaysia, Australia, China, Hong Kong, Indonesia, New Zealand, the Philippines, Singapore, South Korea, Japan, Taiwan and Thailand.

It said it has a similar investment strategy to the Manulife Investment Shariah Progress Fund which taps into increasing growth opportunities of Shariah-compliant companies, but features wider exposure to the broader Asia Pacific region.

MAMSB chief executive officer and executive director Jason Chong said the new Manulife Investment Shariah Progress Plus Fund is designed to provide investors access to the vast Islamic equity investment opportunities in the region’s small to medium sized companies.

“By offering a Shariah-compliant unit trust investment option with expanded geographical exposure, while sharing similar characteristics with our existing Manulife Investment Shariah Progress Fund, MAMSB demonstrates flexibility in responding to changing market needs and growing demand from investors with different investment and risk appetites,” said Chong.

The Manulife Investment Shariah Progress Plus Fund will be priced at 25 sen per unit during the initial offer period from April 13 – May 3.

The minimum initial investment for Manulife Investment Shariah Progress Plus Fund is RM1,000 while the minimum additional investment is RM500.