KUALA LUMPUR (Aug 8): Public Bank's wholly-owned subsidiary Public Mutual has today launched a new fund called Public Lifestyle and Technology Fund (PLTF).

In a statement today, Public Mutual said PLTF adopts a geographically-diversified approach by investing up to 98% of its net asset value (NAV) in selected consumer and technology stocks primarily in foreign markets such as the United States, Europe and Asia Pacific regions.

It said the Fund aims to capitalise on the changing lifestyle patterns and technology trends on the back of the increasing disposable income levels and changing demographic profiles across the global and regional markets.

Public Mutual chief executive officer Yeoh Kim Hong said PLTF provides investors with the opportunity to participate in the continued growth of consumer and technology demand.

"This Fund is suitable for medium- to long-term investors who are able to withstand ups and downs of the stock market in pursuit of capital growth," she said.

The initial issue price for PLTF is 25 sen per unit during the 21-day initial offer period from Aug 8 to Aug 28.

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 special sales charge of 5.25% of the initial issue price per unit. Terms and conditions apply.

In addition, a special campaign on PLTF will also be launched during the initial offer period, offering trendy gadgets as lucky draw prizes.

Interested investors may find out more about the campaign from Public Mutual's website. Terms and conditions apply.

Public Mutual is Malaysia's largest private unit trust company with more than 130 unit trust funds under its management.

As at end-June 2018, the fund size managed by the company was RM80.2 billion.