KUALA LUMPUR (May 7): Valuecap Sdn Bhd (Valuecap), an investment firm jointly owned by Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan) (KWAP) and Permodalan Nasional Berhad, is looking to grow the value of its asset under management (AUM) to RM7.5 billion by the end of 2015.

Currently, Valuecap has AUM worth more than RM5 billion and its AUM target for the year will be achieved with the existing products and introduction of new funds by its two subsidiaries VCAP Asset Managers Sdn Bhd (VCAP) and i-VCAP Management Sdn Bhd (i-VCAP), said Valuecap's director Wan Kamaruzaman Wan Ahmad.

Just today, i-VCAP listed its third exchange traded fund (ETF), MyETF MSCI SEA Islamic dividend (MyETF-MSEAD), on Bursa Malaysia. It is an open-ended fund with an approved fund size of 500 million units.

MyETF-MSEAD opened at RM1.005 in the morning, slightly higher than the ETF's subscription price of RM1 and the net asset value of 99.8 sen.

I-VCAP's chief executive officer Mahdzir Othman said at a press conference that the opening price was "within expectation" and early subscription of 10 million units of the ETF signifies investors' interest in the new investment product.

He added that i-VCAP would be launching another open-ended Islamic ETF with a similar fund size to MyETF-MSEAD by the end of this year.

Meanwhile, Valuecap is aiming to launch an Environmental, Social and Governance Index Fund (ESG Fund) of RM1 billion before the end of the year having already received private mandate from KWAP.