TheEdge
KUALA LUMPUR: Alliance Investment Management Bhd (AIMB) has launched the Alliance Advantage GEM Treasures Fund to provide an option for Malaysians seeking more diversified investments.
AIMB, a member of the Alliance Financial Group, had teamed up with the HSBC Group to launch the feeder fund which seeks long-term returns from capital growth and income by investing in equities of global emerging markets and global bonds.
The fund would tap into the HSBC Investments Funds GEM Treasures Fund, which was sub-managed by Sinopia Asset Management, a unit of the HSBC Group.
Equity investments will be split among Latin America, Eastern Europe, Asia, Africa and the Middle East; and fixed income instruments from around the world.
Alliance Financial Group chief executive officer Datuk Bridget Lai said the partnership reflected the group’s ability to bring to the market innovative and value-added products that meet specific lifestyle and investment needs of Malaysians.
She said 400 million units priced at 50 sen each was offered from yesterday until Nov 12. HSBC Bank Malaysia Bhd is the exclusive distributor of the units.
The fund will be measured against a composite benchmark consisting of 70% MSCI Emerging Markets Free Index in US dollar un-hedged and 30% JP Morgan Government Bond Index in US dollar, currency hedged.
It will invest 95% of its net asset value (NAV) in HSBC Investment Funds GEM Treasures Fund and up to a maximum of 5% would be in liquid assets to meet redemptions.
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