Public Mutual launches new portfolio of global Shariah-compliant stocks

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KUALA LUMPUR (March 5): Public Bank Bhd’s wholly-owned subsidiary, Public Mutual, recently launched a new fund called PB Islamic Dynamic Allocation Fund (PBIDYNAF).

The fund launched on Feb 28 seeks to achieve capital growth over the medium- to long-term period by investing 30% to 98% of its net asset value (NAV) in Shariah-compliant equities and up to 70% of its NAV in sukuk, while the balance may may be invested in Islamic liquid assets, in both domestic and foreign markets. 

In a statement Feb 28, Public Mutual said the fund may invest up to 98% of its NAV in Shariah-compliant foreign assets in selected global markets, including the United States of America (U.S.A.), Europe and the Asia Pacific region.

Public Mutual chief executive officer Yeoh Kim Hong said PBIDYNAF adopts a tactical allocation strategy which enables the fund to have the flexibility of responding to market changes and ride through market cycles.

“Therefore, the Fund is suitable for medium- to long-term investors who can withstand ups and downs of the stock market in pursuit of capital growth,” she said.

The initial issue price for PBIDYNAF is RM1.00 per unit during the 21-day initial offer period from Feb 28 to March 20.

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 initial issue price per unit. Terms and conditions apply.

Public Mutual has more than 130 unit trust funds under its management and as at end-January 2018, the fund size managed by the company was RM83.1 billion.