KUALA LUMPUR 13 July 2007 - Public Bank's wholly-owned subsidiary, Public Mutual announced that to date, more than RM850 million (or more than 3.4 billion units) worth of units of its recently launched Public China Select Fund (PCSF) were sold. PCSF was launched on 5 June 2007.
Chief Executive Officer Yeoh Kim Hong said the demand for PCSF has been tremendous and the increase of fund size of PCSF to 3.375 billion units for the 2nd time has been fully subscribed. "The company has increased the fund size of PCSF for the 3rd time to 5 billion units," she added.
PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. "Up to 98% of the fund's net asset value (NAV) can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV," she continued.
PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. The fund is distributed by Public Mutual's 19,000-strong unit trust consultants.
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 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
