TheEdge
KUALA LUMPUR: TA Investment Management Bhd (TAIM) has increased the approved fund size for its TA ABN AMRO Utilities Fund (TAUF) by 50% to 300 million units, due to over whelming response to its target fund size of RM70 million.
TAIM said in a statement yesterday that the increase was in response to the public’s demand for more defensive types of investments against the backdrop of recent global market volatility.
TAIM’s chief executive officer Simon Chow said: “The response to this product has exceeded our expectations, surpassing our initial target fund size of RM70 million.”
TAUF was first launched on Aug 15, 2007 as Malaysia’s first unit trust that invests in utility equities globally, giving its investors a 1.96% return on their capital in 1.5 months as of Sept 28.
The fund is a feeder fund that invests in the ABN AMRO Funds – Utilities Fund, which has delivered a simple average annual return of 26% for the past three years as of Sept 28.
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