KUALA LUMPUR (Aug 15): Public Bank Bhd’s wholly-owned subsidiary, Public Mutual, is launching a new fund called PB Asia Pacific Dividend Fund (PBAPDF) today.

In a statement today, Public Mutual said PBAPDF seeks to generate regular income and capital growth by investing in a diversified portfolio of stocks in domestic and regional markets that have the potential to offer attractive dividend yields.

It said the Fund will invest 75% to 98% of its net asset value (NAV) in equities and up to 98% in foreign markets such as South Korea, China, Taiwan, Hong Kong, the Philippines, Indonesia, Singapore, Thailand, Australia and other permitted markets.

Public Mutual chief executive officer Yeoh Kim Hong said PBAPDF is suitable for those who wish to pursue annual income and capital growth over the long term.

“This fund is positioned to provide consistent returns with lower volatility as it focuses on dividend-yielding stocks which are more resilient and less volatile,” she said.

The initial issue price for PBAPDF is 25 sen per unit during the 21-day initial offer period from Aug 15 to Sept 4, 2017.

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

Public Mutual said investors who purchase during the initial offer period can enjoy a promotional sales charge as low as 5.00% of the NAV per unit. Terms and conditions apply.

As at end-June 2017, the fund size managed by Public Mutual was RM76.9 billion.