Public Bank’s wholly-owned subsidiary, Public Mutual will launch a new overseas Islamic balanced fund on 21 August 2007 (Tuesday), i.e. the Public Islamic Asia Balanced Fund (PIABF). The fund comes with free takaful coverage of up to RM100,000 per qualified unitholder. Terms and conditions apply.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PIABF is an Islamic balanced fund that seeks to provide income and capital growth over the medium- to long-term period by investing in a portfolio of investments in domestic and regional markets that complies with Shariah requirements. “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, 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 continued.
According to Tan Sri Teh, the fund allows investors the opportunity to invest in a balanced approach where investments are made in domestic and regional Shariah-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 at RM0.2500 per unit during the 21-day initial offer period of 21 August 2007 to 10 September 2007. During the offer period, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PIABF by investors. Investors who opt for Direct Debit Instruction with PIABF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PIABF is distributed by the 20,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at: 012-426 1741 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.