KUALA LUMPUR (Sept 8): Public Bank Bhd’s wholly-owned subsidiary Public Mutual Bhd has launched two new unit trust funds - Public Advantage Growth Equity Fund (PAGEF) and Public Islamic Advantage Growth Equity Fund (PIAGEF), at 25 sen per unit for the 21-day initial offer period from today till Sept 28.

PAGEF focuses its investments in companies with potential earnings growth above the average earnings growth rate of the market in order to achieve capital growth over the medium- to long-term period while PIAGEF is a Shariah-compliant fund that adopts the same investment approach.

“The equity content for PAGEF and PIAGEF ranges between 75% and 98% of its net asset value (NAV) and covers a well-diversified portfolio of growth stocks, index stocks and blue chip stocks.

“Both funds have a broad domestic equity exposure that enables investors to benefit from the recent retracement in the domestic market. The balance of the funds’ NAV will be invested in fixed income securities and liquid assets which include money market instruments and deposits,” Public Mutual said in a statement.

The minimum initial investment for the funds is RM1,000 and the minimum additional investment is RM100, it said.

It added that investors who purchase during the initial offer period would enjoy a promotional sales charge as low as 5% of the initial issue price per unit.

From today till Sept 28, investors opting for Direct Debit Instruction (DDI) with PAGEF and PIAGEF would enjoy a promotional sales charge of 5.25% of NAV per unit for as long as the Direct Debit is active.

Terms and conditions apply for both promotional sales charge.

Public Mutual is largest private unit trust company in Malayisa with more than 100 unit trust funds under its management.

It is also an approved Private Retirement Scheme (PRS) provider managing eight PRS funds.

It has over 3.1 million accountholders and a total of 28 branches nationwide. As at end-July 2015, the total fund size managed by the company was RM65 billion.

At 10am, Public Bank (fundamental: 2.8; valuation: 1.8) group fell two sen or 0.11% to RM17.76 with 137,600 shares done for a market capitalisation of RM68.6 billion.