Public Mutual will be launching a new oversea Islamic fund focusing on dividend yielding assets. Price of each unit is 25 sen and offer period starts 3rd April for 3 weeks.
Chairman Tan Sri Dr Teh Hong Piow said the PIADF is a moderate-risk Islamic equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets, and offer or have the potential to offer attractive dividend yields.
“Up to 70 per cent of the fund’s net asset value (NAV) can be invested in selected foreign markets which include South Korea, China, Taiwan, Hong Kong, the Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets.
“The equity exposure of PIADF will generally range from 75 per cent to 90 per cent of its NAV,” Teh said in a press release.
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