TheEdge
KUALA LUMPUR: The CIMB-Principal Middle East North Africa (MENA) Equity Fund, launched by CIMB-Principal Asset Management Bhd last February, has been fully subscribed and the fund size has been raised by a further 150 million units to 450 million units.
In a statement yesterday, it said the initial selling price per unit remained at 50 sen. Its chief executive Datuk Noripah Kamso said the fund appealed to investors as a potential diversification tool against investment risks amid global markets’ uncertainties.
She said the MENA region’s performance had a low correlation with both developed markets and emerging markets, hence it was less exposed to or affected by the current volatility in both markets.
The fund has a benchmark target of 10% growth in net asset value per annum over the medium to long term.
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