TheEdge
KUALA LUMPUR: CIMB-Principal Asset Management Bhd’s Datuk Noripah Kamso has been named chief executive officer (CEO) of 2007 for Malaysia in Asia Asset Management magazine’s Best of the Best Country Awards.
“We are very pleased with this award from Asia Asset Management, which recognises CIMB-Principal’s achievements over the last two years. This is really a collective victory to be fully shared with all CIMB-Principal employees, its shareholders and our distribution partners,” said Noripah in a statement yesterday.
Under Noripah’s leadership, CIMB-Principal has steadily grown its assets under management to reach RM19.2 billion in 2007, making it one of the country’s largest fund managers.
The company has also successfully ventured overseas, establishing an international presence in Indonesia, Singapore and Brunei and distinguishing itself as a provider of innovative Islamic asset management products.
Asia Asset Management’s CEO of the Year award recognises the executive’s overall achievements, in particular by demonstrating leadership in the market that the firm operates in over a three-year period.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Friday, February 29, 2008
Public Bank launching new fund next month
TheStar
KUALA LUMPUR: Public Bank will launch on March 5 the PB China Asean Equity Fund (PBCAEF), which seeks to capitalise on growth prospects in China and Asean.
The fund will be managed by its subsidiary Public Mutual.
Public Mutual chairman Tan Sri Teh Hong Piow said the fund would seek to achieve capital growth over the medium to long term by investing in a diversified portfolio of China stocks and stocks listed in Asean.
The equity exposure of PBCAEF would generally range from 75% to 90% of its NAV, Teh said.
The issue price or NAV of PBCAEF is at 25 sen per unit during the 21-day initial offer period from March 5 to 25.
“PBCAEF offers investors an opportunity to capitalise on the solid growth prospects in China and Asean,” Teh said. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Public Bank will launch on March 5 the PB China Asean Equity Fund (PBCAEF), which seeks to capitalise on growth prospects in China and Asean.
The fund will be managed by its subsidiary Public Mutual.
Public Mutual chairman Tan Sri Teh Hong Piow said the fund would seek to achieve capital growth over the medium to long term by investing in a diversified portfolio of China stocks and stocks listed in Asean.
The equity exposure of PBCAEF would generally range from 75% to 90% of its NAV, Teh said.
The issue price or NAV of PBCAEF is at 25 sen per unit during the 21-day initial offer period from March 5 to 25.
“PBCAEF offers investors an opportunity to capitalise on the solid growth prospects in China and Asean,” Teh said. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Thursday, February 28, 2008
Capitalising on the Growth Prospect of Small-to-Mid Cap Shariah-compliant Stocks
PublicMutual
Islamic equity growth funds are funds that seek to achieve capital growth by investing in Shariah-compliant stocks that have strong potential for appreciation. Funds that focus on small-to-mid cap Shariah-compliant stocks generally offer higher growth opportunities but may be more volatile than funds which invest in a diversified portfolio of large, mid and small-cap Shariah-compliant stocks.
Investors with aggressive temperaments seeking to discover hidden treasures and opportunities among small-to-mid cap Shariah-compliant stocks can invest in the Public Islamic Select Treasures Fund (PISTF). The fund invests primarily in Shariah-compliant stocks with small-to-medium capitalisation of up to RM6 billion. Shariah-compliant stocks with market capitalisation of below RM6 billion comprise about 40% of the total market capitalisation of Shariah-compliant stocks listed on Bursa Malaysia.
The fund will capitalise on opportunities arising from Malaysia’s economic growth prospects in the medium to long-term. Led by sustained consumer and investment spending, selected Shariah-compliant sectors of the Malaysian economy are expected to perform well in the years ahead.
Growth Prospects for the Malaysian Economy
The Malaysian economy is projected to register gross domestic product (GDP) growth of about 6.0% in 2007 and 2008 on the back of sustained growth in various sectors.
From the supply perspective, growth of the Malaysian economy will be spearheaded by a robust services sector. The services sector, which includes real estate, retail and financial services, is expected to grow by 8.6% in 2008 compared to 9.0% in 2007. Selected property stocks are poised to perform well following the liberalisation of foreign restrictions on property ownership and the removal of Real Property Gains Tax effective 1 April 2007. Demand for residential properties is also expected to be supported by incentives unveiled in the Budget 2008 such as stamp duty waivers and allowing EPF contributors to make monthly withdrawals from their EPF accounts to reduce their housing loans.
Supported by the 9th Malaysian Plan (9MP) and the development of the Northern and Southern economic corridors in Peninsular Malaysia, the construction sector’s growth is envisaged to rise to 6.3% in 2008 from 5.2% in 2007.
The agriculture sector is projected to register a growth of 3.5% in 2008 compared to 3.1% in 2007. The earnings of plantations stocks are supported by firm crude palm oil (CPO) prices on the back of rising global consumption. Looking ahead, prospects for the plantation sector are expected to remain bright as demand for CPO products continues to be fueled by sustained consumption amidst a potential shift to biodiesel which is sourced from palm oil.
In the mining sector, which comprises largely the oil and gas industry, growth is anticipated to gain pace to 4% in 2008 from 3.3% 2007. The oil & gas industry has benefited from the rising trend in crude oil prices. With crude oil prices expected to remain firm in the medium term, the outlook for the oil & gas industry remains bright. In addition, oil & gas support services companies in Malaysia stand to benefit from increased exploration and production activities in the region.
From the demand perspective, Malaysia’s economic growth is driven by resilient growth in consumer spending which accounts for nearly half of GDP. During the 2002-2006 period, consumer spending in Malaysia grew at an average rate of 7.5%. This was supported by an accommodative monetary policy which provided consumers with attractive financing terms.
Furthermore, the recent civil servants’ pay hike of 7.5%-35% amounting to RM8 billion annually has led to higher disposable incomes that will continue to boost consumer spending. Private consumption expenditure in 3Q2007 rose to 14% from 13.1% in 2Q2007 on the back of the civil servants’ pay hike.
Looking forward, consumer spending is envisaged to be sustained by last year’s pay hike for civil servants, rising disposable incomes, uptrend in share prices and the strengthening of the Ringgit. Moreover, the outlook for consumer spending in Malaysia is further supported by the high level of household savings, which is ranked amongst the highest globally at above 40% of GDP.
The Benchmark’s Track Record
The benchmark used to evaluate the performance of PISTF is the FTSE Bursa Malaysia EMAS Shariah Index which is an index comprising all Shariah-compliant stocks listed on the Main Board of Bursa Malaysia. Currently, this index has achieved commendable total returns of 43.50%, 64.33% and 119.86% respectively for the 1, 3 and 5 year periods up to 14 December 2007.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Public Mutual emerged as the biggest winner for the 5th consecutive year at The Edge-Lipper Malaysia Fund Awards 2008
PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual emerged for the fifth consecutive year as the biggest winner at The Edge-Lipper Malaysia Fund Awards 2008 by winning 8 of the 20 awards, including the Lipper award for Best Equity Group for 3 years category.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said that he is very proud that Public Mutual continues to win the most number of awards at this year’s The Edge-Lipper Malaysia Fund Awards. “The icing of the cake is this is the fifth straight time that we have done it,” he added.
He attributed the company’s success to its effective investment strategies. He also thanked the fundholders for their confidence and support.
The awards were presented by Y.Bhg Dato’ Zarinah Anwar, Chairman of the Securities Commission Malaysia to Public Mutual’s Chief Executive Officer, Yeoh Kim Hong and the investment team during the award presentation ceremony which was held on 26 February 2008 at the Hilton Kuala Lumpur Hotel.
The 8 awards won by Public Mutual are:
Public Mutual Berhad: Best Equity Group Award, 3 Years
PB Fixed Income Fund: Bond Malaysian Ringgit, 5 years
PB Growth Fund: Best Equity Malaysia Fund, 5 years
Public SmallCap Fund: Best Equity Malaysia Small and Mid Caps Fund, 5 years
PB Balanced Fund: Best Mixed Asset Malaysian Ringgit Balanced Fund, 5 years
Public Ittikal Fund: Best Equity Malaysia Fund, 5 years & Best Equity Malaysia Fund, 10 years
Public Bond Fund: Best Bond Malaysian Ringgit Fund, 10 years
Public Mutual is the largest private unit trust company in Malaysia, and it manages 58 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Public Bank’s wholly-owned subsidiary, Public Mutual emerged for the fifth consecutive year as the biggest winner at The Edge-Lipper Malaysia Fund Awards 2008 by winning 8 of the 20 awards, including the Lipper award for Best Equity Group for 3 years category.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said that he is very proud that Public Mutual continues to win the most number of awards at this year’s The Edge-Lipper Malaysia Fund Awards. “The icing of the cake is this is the fifth straight time that we have done it,” he added.
He attributed the company’s success to its effective investment strategies. He also thanked the fundholders for their confidence and support.
The awards were presented by Y.Bhg Dato’ Zarinah Anwar, Chairman of the Securities Commission Malaysia to Public Mutual’s Chief Executive Officer, Yeoh Kim Hong and the investment team during the award presentation ceremony which was held on 26 February 2008 at the Hilton Kuala Lumpur Hotel.
The 8 awards won by Public Mutual are:
Public Mutual Berhad: Best Equity Group Award, 3 Years
PB Fixed Income Fund: Bond Malaysian Ringgit, 5 years
PB Growth Fund: Best Equity Malaysia Fund, 5 years
Public SmallCap Fund: Best Equity Malaysia Small and Mid Caps Fund, 5 years
PB Balanced Fund: Best Mixed Asset Malaysian Ringgit Balanced Fund, 5 years
Public Ittikal Fund: Best Equity Malaysia Fund, 5 years & Best Equity Malaysia Fund, 10 years
Public Bond Fund: Best Bond Malaysian Ringgit Fund, 10 years
Public Mutual is the largest private unit trust company in Malaysia, and it manages 58 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Public Mutual the overall winner at The Edge-Lipper awards
TheStar
KUALA LUMPUR: Public Mutual Bhd has emerged as the Best Equity Fund Group, scooping up seven individual awards at The Edge-Lipper Malaysia Fund Awards 2008.
Public Mutual garnered awards in non-Islamic bonds, equities, equities Malaysia small and mid caps, mixed assets and Islamic equity Malaysia for the five-year period. It also won awards in bond Malaysian Ringgit and Islamic equity Malaysia for the 10-year period.
Public Mutual chairman Tan Sri Dr Teh Hong Piow attributed the company’s fifth consecutive win to effective investment strategies. The fund manager is the largest private unit trust company and it manages some 58 funds, of which the total net asset value stood at RM28.4 billion as at Dec 31, 2007.
Alliance Investment Management Bhd bagged the best performing fund under the mixed asset balance under a 10-year period for the second time.
Alliance Financial Group’s group chief executive officer Datuk Bridget Lai said: “Winning the award is an honour and doing so two years in a row is an added achievement.”
Speaking at the awards presentation ceremony here yesterday, The Edge Communications Sdn Bhd managing director and editor-in-chief Ho Kay Tat said investors’ need for timely and in-depth information was growing as fund houses offered more sophisticated products for investors to invest in agribusiness sector, climate change-themed funds, precious metals and Indo-china.
“The ability to invest in a wide universe is, however, a double-edged sword as investors in sectors hit by subprime crisis would know. Global investors need to be on top of many issues like movements of currencies, global outlook and the latest investing themes,” he said.
The Edge-Lipper Malaysia Fund Awards are given to the best performing unit trust funds in Malaysia over the three-, five- and 10-year periods where winners are determined based on the Lipper Leader ratings for Consistent Return, a risk adjusted investment performance return measure developed by Lipper.
Only funds that have done well over a period of three years and beyond are recognised, in line with the practice adopted by the global Lipper Fund Awards. Some 17 awards covering seven fund categories were given out this year, including Islamic funds that topped their respective Lipper classification.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Public Mutual Bhd has emerged as the Best Equity Fund Group, scooping up seven individual awards at The Edge-Lipper Malaysia Fund Awards 2008.
Public Mutual garnered awards in non-Islamic bonds, equities, equities Malaysia small and mid caps, mixed assets and Islamic equity Malaysia for the five-year period. It also won awards in bond Malaysian Ringgit and Islamic equity Malaysia for the 10-year period.
Public Mutual chairman Tan Sri Dr Teh Hong Piow attributed the company’s fifth consecutive win to effective investment strategies. The fund manager is the largest private unit trust company and it manages some 58 funds, of which the total net asset value stood at RM28.4 billion as at Dec 31, 2007.
Alliance Investment Management Bhd bagged the best performing fund under the mixed asset balance under a 10-year period for the second time.
Alliance Financial Group’s group chief executive officer Datuk Bridget Lai said: “Winning the award is an honour and doing so two years in a row is an added achievement.”
Speaking at the awards presentation ceremony here yesterday, The Edge Communications Sdn Bhd managing director and editor-in-chief Ho Kay Tat said investors’ need for timely and in-depth information was growing as fund houses offered more sophisticated products for investors to invest in agribusiness sector, climate change-themed funds, precious metals and Indo-china.
“The ability to invest in a wide universe is, however, a double-edged sword as investors in sectors hit by subprime crisis would know. Global investors need to be on top of many issues like movements of currencies, global outlook and the latest investing themes,” he said.
The Edge-Lipper Malaysia Fund Awards are given to the best performing unit trust funds in Malaysia over the three-, five- and 10-year periods where winners are determined based on the Lipper Leader ratings for Consistent Return, a risk adjusted investment performance return measure developed by Lipper.
Only funds that have done well over a period of three years and beyond are recognised, in line with the practice adopted by the global Lipper Fund Awards. Some 17 awards covering seven fund categories were given out this year, including Islamic funds that topped their respective Lipper classification.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Monday, February 25, 2008
Public Mutual launches a domestic Islamic fund
PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual launches a domestic Islamic fund, Public Islamic Select Treasures Fund (PISTF) on 26 February 2008 (Tuesday). Investors who wish to discover hidden treasures and opportunities among small-to-mid cap stocks can invest in the PISTF. PISTF is open for EPF Members Investment Scheme.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PISTF is an Islamic equity fund that seeks to achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah requirements in the domestic market. “The fund will invest in Shariah-compliant securities with market capitalisation of up to RM6.0 billion, which have promising growth prospects in the medium- to long-term,” he added.
Tan Sri Teh explains that PISTF is suitable for investors with aggressive risk-reward temperaments and can withstand extended periods of market highs and lows in pursuit of capital growth. The equity exposure of PISTF will generally range from 75% to 95% of its net asset value (NAV).
The issue price / NAV of PISTF is at RM0.2500 per unit during the 21-day initial offer period of 26 February 2008 to 17 March 2008. The minimum initial investment is RM1,000.
PISTF is distributed by Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 57 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Public Bank’s wholly-owned subsidiary, Public Mutual launches a domestic Islamic fund, Public Islamic Select Treasures Fund (PISTF) on 26 February 2008 (Tuesday). Investors who wish to discover hidden treasures and opportunities among small-to-mid cap stocks can invest in the PISTF. PISTF is open for EPF Members Investment Scheme.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PISTF is an Islamic equity fund that seeks to achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah requirements in the domestic market. “The fund will invest in Shariah-compliant securities with market capitalisation of up to RM6.0 billion, which have promising growth prospects in the medium- to long-term,” he added.
Tan Sri Teh explains that PISTF is suitable for investors with aggressive risk-reward temperaments and can withstand extended periods of market highs and lows in pursuit of capital growth. The equity exposure of PISTF will generally range from 75% to 95% of its net asset value (NAV).
The issue price / NAV of PISTF is at RM0.2500 per unit during the 21-day initial offer period of 26 February 2008 to 17 March 2008. The minimum initial investment is RM1,000.
PISTF is distributed by Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 57 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Friday, February 22, 2008
CIMB-Principal launches Mideast-linked fund
TheStar
KUALA LUMPUR: CIMB-Principal Asset Management Bhd yesterday launched the country’s first fund that will offer investors exposure to large-cap stocks in the Middle East and North Africa (MENA) region.
Chief executive Datuk Noripah Kamso said the CIMB-Principal MENA Equity Fund had a benchmark target of 10% growth in net asset value (NAV) per annum.
“The MENA region is made up of 12 countries with combined nominal gross domestic product (GDP) exceeding US$1tril. Its GDP growth is forecast to grow 5.9% this year, compared with 5.8% for the Asean region,” chief investment officer Raymond Tang said at the fund’s launch yesterday.
Tang said the oil-producing region was set to benefit from the commodity’s record prices with the incoming flow of petro-dollars utilised to grow the region’s economy rapidly.
The fund’s main sectors are real estate and banks, sectors that are set to benefit from mega infrastructure projects.
Noripah said the fund offered Malaysian investors the opportunity to gain access to the MENA region, which would otherwise be unavailable or difficult for an individual to invest in.
“The fund also takes advantage of the region’s booming sectors benefiting from the oil wealth in the MENA economies,” she said.
According to her, the fund traded at a price-to-earnings ratio of 16.4 times which made it a cheaper valuation compared with other emerging markets in Asia which were trading at 21 times.
“Low correlation between the MENA region and other world markets makes it an opportune time to invest in this region amidst the current market volatility,” she added.
The fund’s initial offer period is from Feb 19 to March 10. It has an opening NAV of 50 sen per unit and approved fund size of 300 million units. Its annual management fee is 1.8%.
This initiative is in collaboration with global asset management company Societe Generale Asset Management (SGAM).
“We will increase the fund size depending on demand,” Noripah said.
The fund feeds into SGAM’s Ocean Fund/Equities MENA Opportunities Fund, which invests in securities of companies principally established and listed in the MENA region.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: CIMB-Principal Asset Management Bhd yesterday launched the country’s first fund that will offer investors exposure to large-cap stocks in the Middle East and North Africa (MENA) region.
Chief executive Datuk Noripah Kamso said the CIMB-Principal MENA Equity Fund had a benchmark target of 10% growth in net asset value (NAV) per annum.
“The MENA region is made up of 12 countries with combined nominal gross domestic product (GDP) exceeding US$1tril. Its GDP growth is forecast to grow 5.9% this year, compared with 5.8% for the Asean region,” chief investment officer Raymond Tang said at the fund’s launch yesterday.
Tang said the oil-producing region was set to benefit from the commodity’s record prices with the incoming flow of petro-dollars utilised to grow the region’s economy rapidly.
The fund’s main sectors are real estate and banks, sectors that are set to benefit from mega infrastructure projects.
Noripah said the fund offered Malaysian investors the opportunity to gain access to the MENA region, which would otherwise be unavailable or difficult for an individual to invest in.
“The fund also takes advantage of the region’s booming sectors benefiting from the oil wealth in the MENA economies,” she said.
According to her, the fund traded at a price-to-earnings ratio of 16.4 times which made it a cheaper valuation compared with other emerging markets in Asia which were trading at 21 times.
“Low correlation between the MENA region and other world markets makes it an opportune time to invest in this region amidst the current market volatility,” she added.
The fund’s initial offer period is from Feb 19 to March 10. It has an opening NAV of 50 sen per unit and approved fund size of 300 million units. Its annual management fee is 1.8%.
This initiative is in collaboration with global asset management company Societe Generale Asset Management (SGAM).
“We will increase the fund size depending on demand,” Noripah said.
The fund feeds into SGAM’s Ocean Fund/Equities MENA Opportunities Fund, which invests in securities of companies principally established and listed in the MENA region.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, February 20, 2008
Tune Money Capital to offer unit trust products
TheStar
KUALA LUMPUR: Tune Money Capital Sdn Bhd, a wholly owned subsidiary of Tune Money Sdn Bhd, plans to launch a few unit trust products by June this year, subject to Securities Commision (SC) approval.
Tune Money Sdn Bhd chief executive officer Tengku Zafrul Aziz, who is also a director of Tune Money Capital, said that the latter received its fund management licence from SC on Feb 6.
“The industry totalled RM169bil last year alone, of which private funds accounted for RM72bil.
“In addition, some RM71bil lay idle in savings accounts last year and the question is how to mobilise these funds. We think there is great potential for a new player with an innovative approach,” he told a press conference yesterday.
Tune Money Capital, which boasts of a non-traditional business model, would be the first company to solely sell its unit trust products online via its own financial portal.
“We will not be using agents, thus reducing our upfront fees. Market upfront costs are about 3% to 5%. We intend to charge below this rate for our products,” Tengku Zafrul said, adding that the company had spent RM10mil to develop the portal.
He declined, however, to give details on the products until it obtains SC approval.
The company, which has a paid-up capital of RM10.5mil, plans to manage some of the funds itself while outsourcing some to local fund managers.
“We would also consider investing the funds overseas, depending on its size. Furthermore, we are only allowed to invest 50% of the assets under management overseas as per the regulations,” he added.
Tengku Zafrul said the target market for these products was those earning between RM3,000 and RM4,000 monthly, which are underserved financially.
“There are many people out there who want to invest but does not have the means under the present system,” he said.
Tune Money, which has launched three insurance products to date, plans to roll out hospital, surgical and motor insurance products by June.
Its first life insurance product would be launched by the third quarter.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Tune Money Capital Sdn Bhd, a wholly owned subsidiary of Tune Money Sdn Bhd, plans to launch a few unit trust products by June this year, subject to Securities Commision (SC) approval.
Tune Money Sdn Bhd chief executive officer Tengku Zafrul Aziz, who is also a director of Tune Money Capital, said that the latter received its fund management licence from SC on Feb 6.
“The industry totalled RM169bil last year alone, of which private funds accounted for RM72bil.
“In addition, some RM71bil lay idle in savings accounts last year and the question is how to mobilise these funds. We think there is great potential for a new player with an innovative approach,” he told a press conference yesterday.
Tune Money Capital, which boasts of a non-traditional business model, would be the first company to solely sell its unit trust products online via its own financial portal.
“We will not be using agents, thus reducing our upfront fees. Market upfront costs are about 3% to 5%. We intend to charge below this rate for our products,” Tengku Zafrul said, adding that the company had spent RM10mil to develop the portal.
He declined, however, to give details on the products until it obtains SC approval.
The company, which has a paid-up capital of RM10.5mil, plans to manage some of the funds itself while outsourcing some to local fund managers.
“We would also consider investing the funds overseas, depending on its size. Furthermore, we are only allowed to invest 50% of the assets under management overseas as per the regulations,” he added.
Tengku Zafrul said the target market for these products was those earning between RM3,000 and RM4,000 monthly, which are underserved financially.
“There are many people out there who want to invest but does not have the means under the present system,” he said.
Tune Money, which has launched three insurance products to date, plans to roll out hospital, surgical and motor insurance products by June.
Its first life insurance product would be launched by the third quarter.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
CIMB to launch retail fund in S. Korea
TheStar
KUALA LUMPUR: CIMB Investment Bank Bhd and Daewoo Securities Co Ltd plan to launch a retail fund in South Korea in the second quarter for Korean investors interested in the Malaysian equities market.
CIMB group chief executive Datuk Nazir Razak said CIMB and Daewoo Securities were in the midst of setting up the fund. Details on the fund are not immediately available.
“We'll immediately start channelling brokerage activities from those parts of the world in which we have a presence and market sukuk opportunities to the Koreans,” he said.
He was speaking to reporters yesterday after CIMB and Daewoo Securities signed an agreement to collaborate in investment banking activities as well as capitalise on each other's expertise in the respective markets via market access, knowledge, research and brokerage services.
The alliance also covers the co-development of funds for distribution in each other's market as well as preferred partnerships in all investment banking deals involving their respective clients.
Nazir said besides bringing access to Bursa Malaysia and other South-East Asian bourses through CIMB and the group's international investment banking arm CIMB-GK, the bank would be able to leverage on its strong presence in Islamic finance where there was growing interest among South Korean companies.
He said the alliance would bring a lot of opportunities for investors in both countries as it was not limited to just Malaysia and South Korea but also included other countries where both firms had a presence.
“When Daewoo Securities set up partnerships in Brazil and China, South Korean investments were ramped up in these countries, so this is an opportunity for us to take advantage of the alliance. In fact, the working and negotiation teams from both firms were told to discuss about collaboration in third countries, too,” Nazir said.
Meanwhile, Daewoo Securities president and chief executive officer Sung Tae Kim said China had been the preferred investment destination of South Koreans for several years.
“We want to diversify. That's why we set up a Brazilian fund and have a stake in an online brokerage service in Indonesia,” he said, adding that the company had also signed a memorandum of understanding with Vietnam's largest brokerage.
Kim said the alliance would lead to cooperation in creating opportunities, as Daewoo Securities was the market leader in South Korea for cross-border listings as well as brokerage services.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: CIMB Investment Bank Bhd and Daewoo Securities Co Ltd plan to launch a retail fund in South Korea in the second quarter for Korean investors interested in the Malaysian equities market.
CIMB group chief executive Datuk Nazir Razak said CIMB and Daewoo Securities were in the midst of setting up the fund. Details on the fund are not immediately available.
“We'll immediately start channelling brokerage activities from those parts of the world in which we have a presence and market sukuk opportunities to the Koreans,” he said.
He was speaking to reporters yesterday after CIMB and Daewoo Securities signed an agreement to collaborate in investment banking activities as well as capitalise on each other's expertise in the respective markets via market access, knowledge, research and brokerage services.
The alliance also covers the co-development of funds for distribution in each other's market as well as preferred partnerships in all investment banking deals involving their respective clients.
Nazir said besides bringing access to Bursa Malaysia and other South-East Asian bourses through CIMB and the group's international investment banking arm CIMB-GK, the bank would be able to leverage on its strong presence in Islamic finance where there was growing interest among South Korean companies.
He said the alliance would bring a lot of opportunities for investors in both countries as it was not limited to just Malaysia and South Korea but also included other countries where both firms had a presence.
“When Daewoo Securities set up partnerships in Brazil and China, South Korean investments were ramped up in these countries, so this is an opportunity for us to take advantage of the alliance. In fact, the working and negotiation teams from both firms were told to discuss about collaboration in third countries, too,” Nazir said.
Meanwhile, Daewoo Securities president and chief executive officer Sung Tae Kim said China had been the preferred investment destination of South Koreans for several years.
“We want to diversify. That's why we set up a Brazilian fund and have a stake in an online brokerage service in Indonesia,” he said, adding that the company had also signed a memorandum of understanding with Vietnam's largest brokerage.
Kim said the alliance would lead to cooperation in creating opportunities, as Daewoo Securities was the market leader in South Korea for cross-border listings as well as brokerage services.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Tuesday, February 19, 2008
Alliance AFF investors get four sen per unit
TheStar
KUALA LUMPUR: Alliance Investment Management Bhd is declaring a gross income distribution of four sen per unit for its Alliance First Fund (AFF) investors for the year ended Dec 31, 2007. In a statement, Alliance Investment said the distribution represented a yield of 6.1% based on the fund's average selling price last year.
“As at Dec 31, 2007, the net asset value per unit after dividend distribution stood at 66.7 sen,” it said. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: Alliance Investment Management Bhd is declaring a gross income distribution of four sen per unit for its Alliance First Fund (AFF) investors for the year ended Dec 31, 2007. In a statement, Alliance Investment said the distribution represented a yield of 6.1% based on the fund's average selling price last year.
“As at Dec 31, 2007, the net asset value per unit after dividend distribution stood at 66.7 sen,” it said. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
CIMB EGF declares 5 sen per unit income
TheStar
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a gross income distribution of five sen per unit for holders of its CIMB-Principal Equity Growth Fund (EGF).
“This amounts to 6.15% of the fund's net asset value per unit as at Jan 22, 2008,” said CIMB Group in a statement.
The fund provides long-term capital growth, and invests a minimum of 70% in equities with capital growth prospects. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a gross income distribution of five sen per unit for holders of its CIMB-Principal Equity Growth Fund (EGF).
“This amounts to 6.15% of the fund's net asset value per unit as at Jan 22, 2008,” said CIMB Group in a statement.
The fund provides long-term capital growth, and invests a minimum of 70% in equities with capital growth prospects. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Friday, February 15, 2008
5 sen income distribution for CIMB fund unitholders
BusinessTimes
CIMB Wealth Advisors Bhd has declared a gross income distribution of five sen per unit for holders of its CIMB-Principal Equity Growth Fund (EGF).
“This amounts to 6.15 per cent of the fund’s net asset value per unit as at January 22, 2008,” said CIMB Group in a statement here today.
The fund provides long-term capital growth, and invests a minimum of 70 per cent in equities with capital growth prospects.The majority of the fund’s assets are invested in Malaysian equities.
EGF is targeted at investors looking for consistent capital returns.
“EGF has performed well, giving total returns of 73 per cent since it was launched in October 2003.
“The overall market sentiment has been generally good and the fund managers’ ability to pick the right stocks has benefited investors,” said its chief executive officer, Tan Beng Wah.
CIMB Wealth Advisors, incorporated in 1990, provides a comprehensive range of unit trust funds for individuals and institutional investors in Malaysia. - Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
CIMB Wealth Advisors Bhd has declared a gross income distribution of five sen per unit for holders of its CIMB-Principal Equity Growth Fund (EGF).
“This amounts to 6.15 per cent of the fund’s net asset value per unit as at January 22, 2008,” said CIMB Group in a statement here today.
The fund provides long-term capital growth, and invests a minimum of 70 per cent in equities with capital growth prospects.The majority of the fund’s assets are invested in Malaysian equities.
EGF is targeted at investors looking for consistent capital returns.
“EGF has performed well, giving total returns of 73 per cent since it was launched in October 2003.
“The overall market sentiment has been generally good and the fund managers’ ability to pick the right stocks has benefited investors,” said its chief executive officer, Tan Beng Wah.
CIMB Wealth Advisors, incorporated in 1990, provides a comprehensive range of unit trust funds for individuals and institutional investors in Malaysia. - Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Poll: Funds favour Russia
TheStar
LONDON: Fund managers are increasingly pessimistic about emerging equities, though three-quarters of investors surveyed have gone overweight Russia, a Merrill Lynch survey showed on Wednesday.
The monthly poll of 190 global fund managers found investors at their most risk-averse since April 2001, with 40% now underweight global stocks, as the six-month-old credit crisis stokes fears of a US recession and a global slowdown.
Global emerging market investors showed the highest level of pessimism on profits since the GEM survey began in 2007.
But the survey found a big rise in investor preference for Russia.
“GEM investors maintain large overweight positions in Russia and Brazil. Russia is favoured over Brazil for the first time in our (global emerging markets) survey,” Merrill said, adding that funds were underweight India and China, the two other legs of the so-called BRIC countries.
“What we have seen is the increase in overweight in Russia in the past two to three months and the main driving theme to us is that the government has got a large oil surplus,” said Michael Penn, global emerging equity strategist at Merrill Lynch.
Investor confidence in China's growth was also at an all-time low, the survey found. – Reuters
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
LONDON: Fund managers are increasingly pessimistic about emerging equities, though three-quarters of investors surveyed have gone overweight Russia, a Merrill Lynch survey showed on Wednesday.
The monthly poll of 190 global fund managers found investors at their most risk-averse since April 2001, with 40% now underweight global stocks, as the six-month-old credit crisis stokes fears of a US recession and a global slowdown.
Global emerging market investors showed the highest level of pessimism on profits since the GEM survey began in 2007.
But the survey found a big rise in investor preference for Russia.
“GEM investors maintain large overweight positions in Russia and Brazil. Russia is favoured over Brazil for the first time in our (global emerging markets) survey,” Merrill said, adding that funds were underweight India and China, the two other legs of the so-called BRIC countries.
“What we have seen is the increase in overweight in Russia in the past two to three months and the main driving theme to us is that the government has got a large oil surplus,” said Michael Penn, global emerging equity strategist at Merrill Lynch.
Investor confidence in China's growth was also at an all-time low, the survey found. – Reuters
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
OCBC Bank launches agribusiness fund
TheStar
KUALA LUMPUR: OCBC Bank (M) Bhd is offering a new agribusiness fund that allows investors to take a short- to mid-term view on the agribusiness sector against the US real estate sector.
The Agri-Property Outperformance FRNID (floating rate negotiable instrument of deposit) could potentially earn up to 8% a year while enjoying 100% principal protection if the investment were held to maturity, said OCBC Bank in a statement.
The new FRNID, available until Feb 26, measures the performance of six international agribusiness stocks against the iShares Dow Jones US Real Estate Index Fund.
It named the six stocks as ArcherDanielMidland Co, Bunge Ltd, Monsanto Co, Agrium Inc, Degree & Co and Nestle SA.
For a minimum deposit of RM100,000, an individual may take up the FRNID and the maximum amount per NID certificate is RM10mil. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: OCBC Bank (M) Bhd is offering a new agribusiness fund that allows investors to take a short- to mid-term view on the agribusiness sector against the US real estate sector.
The Agri-Property Outperformance FRNID (floating rate negotiable instrument of deposit) could potentially earn up to 8% a year while enjoying 100% principal protection if the investment were held to maturity, said OCBC Bank in a statement.
The new FRNID, available until Feb 26, measures the performance of six international agribusiness stocks against the iShares Dow Jones US Real Estate Index Fund.
It named the six stocks as ArcherDanielMidland Co, Bunge Ltd, Monsanto Co, Agrium Inc, Degree & Co and Nestle SA.
For a minimum deposit of RM100,000, an individual may take up the FRNID and the maximum amount per NID certificate is RM10mil. – Bernama
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Thursday, February 14, 2008
AmInvestment to take advantage of strengthening global currencies
TheStar
KUALA LUMPUR: AmInvestment Bank Bhd expects more than 8% returns per annum for its first fund launched this year, AmGlobal Currencies – Capital Protected.
AmBank Group chairman Tan Sri Azman Hashim said the fund was designed to take advantage of the expected strengthening of a basket of global currencies against the US dollar.
“As we enter 2008, the investment horizon looks challenging with looming factors such as surging oil and commodity prices, rising global inflation and increasing market volatility. In addition, fresh credit concerns and high trade deficits are also expected to contribute to the US downtrend,” he said at the launch of the fund yesterday.
Azman said the diversified basket of currencies comprising the Brazilian real, Russian rouble, euro, Canadian dollar, and Korean won had historically strengthened against the greenback.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
KUALA LUMPUR: AmInvestment Bank Bhd expects more than 8% returns per annum for its first fund launched this year, AmGlobal Currencies – Capital Protected.
AmBank Group chairman Tan Sri Azman Hashim said the fund was designed to take advantage of the expected strengthening of a basket of global currencies against the US dollar.
“As we enter 2008, the investment horizon looks challenging with looming factors such as surging oil and commodity prices, rising global inflation and increasing market volatility. In addition, fresh credit concerns and high trade deficits are also expected to contribute to the US downtrend,” he said at the launch of the fund yesterday.
Azman said the diversified basket of currencies comprising the Brazilian real, Russian rouble, euro, Canadian dollar, and Korean won had historically strengthened against the greenback.
From left: Datin Maznah Mahbob, Tan Sri Azman Hashim, AmInvestment Bank executive director Pushpa Rajadurai and AmBank (M) Bhd retail banking managing director Mohamed Azmi Mahmood at the launch of the fund
This was due to strong economic growth in these countries and the rising prominence of euro in international trade.
“We realised there is potential growth prospects tapping into these global currencies,” he said.
The fund will invest mainly in two-year zero-coupon negotiable instruments of deposits and an option that participates in the appreciation of the basket of currencies against the US Dollar.
“This fund is suitable for investors who want potentially better returns than bank deposit rates over a two-year investment period. It is also for investors who are risk-averse and want to preserve their capital while participating in the appreciation of these global currencies against the greenback,” Azman said.
AmGlobal Currencies – Capital Protected has an authorised fund size of 250 million units. Selling at RM1 per unit, the minimum investment amount is RM5,000 while the minimum additional investment is RM5,000.
AmInvestment funds management executive director and chief executive officer Datin Maznah Mahbob said the company planned to launch about 12 funds within this year.
“We plan to launch more capital protected, absolute returns as well as emerging growth trend funds,” she said.
With these fund launches, the unit trust division would see its total assets under management increase by 30% from RM19bil as at Jan 31, she added.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Wednesday, February 13, 2008
Public Mutual declares distributions for 3 funds
PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for three of its funds.
The gross distributions declared are for financial year ended 31 January 2008:
Public Index Fund - Gross distribution of 20.00 sen per unit
Public Enhanced Bond Fund - Gross distribution of 7.25 sen per unit
Public Money Market Fund - Gross distribution of 3.00 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Index Fund has generated a one-year return of 38.85% for the period ended 11 January 2008, according to The Edge-Lipper Fund Table dated 21 January 2008.
This fund has generally outperformed its benchmark Kuala Lumpur Composite Index (KLCI), which registered a gain of 37.08% for the same period.
As for Public Enhanced Bond Fund, it has generated a one-year return of 10.20% for the period ended 11 January 2008. This fund has outperformed its benchmark 12-Month Fixed Deposits rate of 3.70%.
Public Money Market Fund, on the other hand, has generated a one-year return of 3.14% for the period ended 11 January 2008.
Public Mutual is the largest private unit trust company in Malaysia, manages 57 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total net asset value of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for three of its funds.
The gross distributions declared are for financial year ended 31 January 2008:
Public Index Fund - Gross distribution of 20.00 sen per unit
Public Enhanced Bond Fund - Gross distribution of 7.25 sen per unit
Public Money Market Fund - Gross distribution of 3.00 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Index Fund has generated a one-year return of 38.85% for the period ended 11 January 2008, according to The Edge-Lipper Fund Table dated 21 January 2008.
This fund has generally outperformed its benchmark Kuala Lumpur Composite Index (KLCI), which registered a gain of 37.08% for the same period.
As for Public Enhanced Bond Fund, it has generated a one-year return of 10.20% for the period ended 11 January 2008. This fund has outperformed its benchmark 12-Month Fixed Deposits rate of 3.70%.
Public Money Market Fund, on the other hand, has generated a one-year return of 3.14% for the period ended 11 January 2008.
Public Mutual is the largest private unit trust company in Malaysia, manages 57 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total net asset value of the funds managed by the company was RM28.4 billion.
Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.
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