Thursday 28 Mar 2024
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KUALA LUMPUR (Oct 20): Affin Hwang Asset Management Bhd (Affin Hwang AM) has launched the Affin Hwang World Series — Global Disruptive Innovation Fund.

In a statement, Affin Hwang AM said the fund is a wholesale feeder growth fund that provides access to vast growth opportunities created by disruptive innovations.

It said the fund will feed into a collective investment scheme, namely the Nikko AM ARK Disruptive Innovation Fund (the target fund) which is managed by Nikko Asset Management (the target fund manager).

The fund manager said ARK Investment Management, a strategic partner of Nikko AM Group, acts as the investment adviser for the strategy.

It said to achieve its investment objective, the fund will invest a minimum of 80% of the fund’s net asset value (NAV) into the target fund and a maximum of 20% of the fund’s NAV into money market instruments, deposits and/or cash.

Affin Hwang AM chief marketing and distribution officer Chan Ai Mei said unlike other generic technology funds available in the market, the newly launched Affin Hwang World Series — Global Disruptive Innovation Fund will allow investors to truly participate in cutting-edge innovations that could potentially change the way the world works.

“These include high-conviction ideas in the areas of robotics, artificial intelligence (AI), DNA sequencing, energy storage and blockchain,” she said.

Chan said with little overlap against traditional market indices, the fund’s distinct strategy will further allow investors to gain diversification in their portfolios.

“With advances in science and technology happening every day at an accelerated pace, the fund offers a timely avenue for investors to tap into the leaders, enablers and beneficiaries of such disruptive innovations,” she said.

Meanwhile, Eleanor Seet, the president and head of Asia ex-Japan at Nikko Asset Management Asia Ltd, said: “We are excited to partner with Affin Hwang AM in expanding the opportunities set for investors in this space.

“Leveraging our collaboration with ARK Investment Management, which was sealed through the acquisition of an equity stake in August 2017, we have been able to augment our capability to invest in massive opportunities that disruptive innovations bring as they rapidly transform the world.

 “ARK’s open research approach is designed to identify innovations and convergence across sectors, economies and geographies. Their consistent investment process and active management of high-conviction portfolios capitalise on rapid change and avoid companies likely to be displaced by innovations,” she said.

Affin Hwang AM said the fund is available to sophisticated investors who seek capital appreciation, with a medium- to long-term investment horizon and high risk tolerance.

The base currency of the fund is the US dollar.

The fund is offered in four currency classes, namely the USD Class, MYR-Hedged Class, SGD-Hedged Class and AUD-Hedged Class.

The minimum investment amount is US$5,000 for all listed currency classes.

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