Thursday 28 Mar 2024
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KUALA LUMPUR (NOV 24): Public Bank’s wholly-owned subsidiary, Public Mutual is launching two new Islamic funds, Public Ehsan Mixed Asset Growth Fund (PESMAGF) and Public Ehsan Mixed Asset Conservative Fund (PESMACF) tomorrow (Nov 25).

In a statement Monday, Public Mutual said PESMAGF sought to achieve capital growth over the medium- to long-term period and was suitable for medium- to long-term investors who are able to withstand ups and downs of the stock market in pursuit of capital growth.

It said that As PESMAGF invests only 40% to 70% of its NAV in Shariah-compliant equities, the fund was less volatile in nature compared to Shariah-compliant equity funds.

In addition, investors can also enjoy potential regular income as the fund would invest 30% to 60% of its NAV in sukuk, it sai.

Public Mutual said PESMAGF invests in a range of Shariah-compliant equities comprising blue chips, index stocks and growth stocks.

To diversify, PESMAGF can invest up to 30% of its NAV in foreign markets, it added.

The fung manager meanwhile said PESMACF aims to provide investors with annual income and achieve capital growth over the medium- to long-term.

It said that to do so, the fund invests 60% to 75% of its NAV in sukuk and up to 35% of its NAV in Shariah-compliant equities.

“To increase diversification, PESMACF may invest up to 25% of its NAV in foreign markets. PESMACF is suitable for medium- to long-term investors who seek annual income and capital growth through a conservative mixed asset allocation strategy,” said Public Mutual.

Public Mutual said the initial issue price of PESMAGF and PESMACF was 25 sen per unit respectively during the 21-day initial offer period from Nov 25 to Dec 15, 2014.

It said the minimum initial investment for both funds was RM1,000 and the minimum additional investment was RM100.

Public Mutual manages a total funds with a net asset value of RM63.4 billion.

 

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