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Public Mutual will launch a new overseas Islamic balanced fund Public Islamic Asia Balanced Fund (PIABF) on Aug 21, which provides free takaful coverage of up to RM100,000 per qualified unitholder.
Public Mutual chairman Tan Sri Dr Teh Hong Piow said on Aug 20 that PIABF's target was to provide income and capital growth over the medium- to long-term period by investing in a portfolio of syariah-compliant investments in domestic and regional markets.
“Up to 60% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, South Korea, China, Taiwan, Hong Kong, the Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets.
"The equity exposure of PIABF will generally range from 40% to 60% of its NAV," he said.
Teh said the fund enabled investors to invest in domestic and regional syariah-compliant equities and Islamic debt securities in near equal proportion to spread out the risks.
“PIABF is suitable for investors with conservative to moderate risk-reward temperament with preference for receiving income and a respectable measure of capital growth,” he added.
The issue price/ NAV of PIABF is 25 sen per unit during the 21-day initial offer period of Aug 21 to Sept 10.
During the offer period, the promotional service charge would be 5.45% of NAV per unit.
Investors opting for direct debit instruction with PIABF during the offer period would also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the direct debit is active.
The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100. |
