KUALA LUMPUR (March 21): PMB Investment Bhd, a member of Pelaburan Mara Group, has launched the PMB-An-Nur Waqf Income Fund, a mixed equity fund under its management.

Acting CEO Mahani Ibrahim said the PMB An-Nur Waqf Income Fund is the 17th fund managed by PMB Investment, and is an opportunity for investors who wish to contribute some part of their income distribution for wakaf activities to help the disadvantaged segment of society in Malaysia.

"PMB An-Nur Waqf Income Fund is suitable for those who seek shariah-compliant financial products and have medium risk tolerance, while at the same time, looking for stable medium- to long-term returns and a chance to do charity," she said in a statement.

The new fund will invest primarily in Bursa-listed stable shariah-compliant companies with the potential to grow more than 2% per year.

The issue price for PMB An-Nur Waqf Fund is 50 sen per unit and offers free takaful coverage for eligible investors.

"Those who invest RM1,000 and above in the PMB An-Nur Waqf Fund will receive the maximum takaful coverage of up to RM200,000.

"The minimum initial investment is RM100 for retail investors and RM10,000 for corporate or institutional investors, making this fund affordable to all walks of life," said Mahani.

The fund aims to allocate 30% of its annual income distribution, if any, for wakaf purposes, while 70% will be reinvested.

PMB Investment is collaborating with Waqaf An-Nur Corp (WANCorp) as the wakaf administrator of the fund.

"PMB An-Nur Waqf is another innovative wakaf initiative to allow Malaysians to contribute for the betterment of society," said WANCorp CEO Haji Bukhari Abdul Rahman.