BusinessTimes
CIMB-PRINCIPAL Islamic Asset Management Sdn Bhd has raised the size of two funds due to strong demand.
CIMB Islamic DALI Equity Theme Fund has been boosted to two billion units while the CIMB Islamic Money Market Fund will have 150 million units now.
This is the third increase for the DALI fund and the first increase for the Money Market Fund.
CIMB-Principal Islamic chief executive Datuk Noripah Kamso said the encouraging response is a proof that investors recognise the investment opportunities of the funds.
"The DALI Equity Theme Fund optimises Malaysia's resilience in the face of uncertainty in global markets and is suitable for investors willing to accept above-average to high-risk in their investments.
"The Money Market Fund is suited for those who wish to 'park' their money temporarily while waiting for the next investment opportunity. This fund also aims to provide stability by giving investors a potential steady stream of monthly income," she said in a statement.
The DALI fund is a syariah-compliant fund that invests in Malaysian companies that will benefit from prevailing global and domestic investment themes. It also invests in sustainable sectors that potentially give long-term returns such as the oil and gas, plantations and construction sectors.
The fund invests up to 98 per cent of its net asset value in Syariah-compliant equities listed on Bursa Malaysia.
Meanwhile, the Money Market Fund invests in short-term Islamic money market instruments maturing in less than a year. As a tax-efficient alternative to traditional bank deposits, the fund seeks to provide potentially higher returns and allows investors to withdraw their cash anytime without penalty.
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