Public Mutual named Most Outstanding Islamic Fund Manager

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KUALA LUMPUR (Nov 12): Public Bank’s wholly-owned subsidiary, Public Mutual, was named the most outstanding Islamic Fund Manager at the 11th KLIFF (Kuala Lumpur Islamic Finance Forum) yesterday.

This is the second consecutive year Public Mutual has won the award.

The award was was presented by Minister at the Prime Minister’s Department, Datuk Seri Abdul Wahid Omar.

In a statement Wednesday, Public Mutual said the award acknowledged teh fund manager’s effort and contributions in developing the Islamic finance industry.

Inclusive of this award, Public Mutual said it had received more than 230 industry awards to-date, including more than 80 awards for superior fund performance in Islamic funds.

Public Mutual is the number one in the Islamic unit trust funds sector in Malaysia with a net asset value of RM27.8 billion, according to the Edge-Lipper as at Oct 20 this year.

Recently, Public Mutual was ranked No. 2 in the world among the top 50 biggest global managers of Islamic funds (in terms of asset under management as at end-December 2013) by a leading Hong Kong-based magazine.

Public Mutual is Malaysia’s largest private unit trust company and as at end-October 2014, the total net asset value of the funds managed by the Company was RM63.4 billion