KUALA LUMPUR (Jan 24): Public Bank’s wholly-owned subsidiary, Public Mutual, last Friday launched a new fund called Public India-Global Equity Fund (PINGEF).

PINGEF is Public Mutual’s first unit trust fund investing in global markets focusing on India.

In a statement Jan 19, the fund manager said that to achieve capital growth over the medium- and long-term, PINGEF will invest 75% to 98% of its net asset value (NAV) in equities, while the remainder will be invested in fixed income securities and liquid assets.

It said in terms of country allocation, at least 30% of the Fund’s NAV will be invested in India’s equity market, while the balance will be invested in the United States of America (U.S.), Europe and selected markets in the Asia Pacific region.

Hence, Public Mutual said the Fund is well-positioned to tap into investment opportunities in the global and regional markets, thus providing medium- to long-term investors with the benefit of a diversified equity portfolio.

The initial issue price for PINGEF is 25 sen per unit during the 21-day initial offer period from Jan 19 to Feb 8.

The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100.

Investors who purchase during the initial offer period can enjoy a promotional sales charge of 5.25% of the initial issue price per unit.

Terms and conditions apply.

Public Mutual said that additionally, investors who invest in this Fund during the initial offer period will stand a chance to win lucky draw prizes including the Grand Prize of a travel package to India for two worth RM14,000.

It said investors will also receive one lucky draw entry for every RM5,000 invested in this Fund.

PINGEF is distributed by Public Mutual’s unit trust consultants.

Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.