The leader of the pack in the number of funds (34 funds) is going to launch yet another 2 new funds this coming Monday.
The Edge Daily on the upcoming launch…
Public Bank Bhd will launch two new funds ??PB Islamic Asia Equity Fund (PBIAEF) and PB Cash Management Fund (PBCMF) ??on Jan 8.
The funds will be managed by its unit Public Mutual. Public Mutual chief executive officer Lam Kam Yin said on Jan 5 that PBIAEF is an aggressive Islamic equity fund that can invest up to 80% of its net asset value (NAV) in selected foreign markets.
These markets include Australia, China, Hong Kong, Indonesia, Japan, New Zealand, South Korea, Taiwan, Thailand and the Philippines.
PBIAEF’s objective is long-term capital appreciation by investing in blue chips and growth stocks that comply with Syariah requirements in domestic and regional markets.
The issue price for PBIAEF is 25 sen per unit and 1% free units will be given away during the 21-day initial offer period starting Jan 8 to 28. The minimal additional investment is RM100.
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