TheStar
KUALA LUMPUR: Despite the gloomy economic conditions, CIMB-Principal Asset Management Bhd hopes to increase its market share in the unit trust industry by 0.5%.
Chief executive officer J. Campbell Tupling said the company had increased its share by 0.5% in 2008 and hoped to maintain its performance, going forward.
“We expect the economy to be sluggish in the first half of the year and pick up after June,” he said after the launch of the CIMB-Principal Opportunistic Bond Fund yesterday.
Acccording to Tupling, CIMB’s latest fund offered investors access to non-ringgit convertible bonds issued by blue chip companies from the Asia-Pacific region.
“The sell-off in equities during the second half of 2008 has resulted in attractive prices for high-grade corporate bonds,” he said.
“With the fund, fixed-income investors may obtain better returns from high-quality and relatively low-risk corporate bonds. At such times when the Malaysian fixed deposits are giving only about 3.5% and maybe less moving forward, investors are well-compensated with this fund,” Tupling said.
According to CIMB-Principal chief investment officer Raymond Tang, the three-year close-ended fund would pursue a buy-and-hold strategy, meaning that the portfolio would be buffered from future interest rate fluctuations.
“I believe this fund offers retail investors the best opportunity to potentially make money in the credit bond market, provided they maintain their investment until the fund matures,” added Tang.
Investors can also exit the fund early if total performance reaches 40% before the fund matures and the fund manager exercises its discretion to terminate the fund and return the investment proceeds before maturity.
“This is possible if equity prices rally sharply and the convertible bonds can be sold at a premium,” Tang said.
Tupling said that retail investors could expect a better outlook for bond funds this year with Bank Negara emphasising a pro-growth policy to encourage spending by lowering interest rates further.
The Opportunistic Bond Fund has an approved size of 200 million units and an initial selling price of RM1 per unit.
It will invest up to 98% of the fund’s net asset value in non-ringgit-denominated bonds as well as other fixed and floating rate instruments issued or backed by governments, government agencies, supernational organisations, corporates and other issuers in the Asia-Pacific region.
The remainder of the fund will be placed in liquid assets, such as bank deposits, for liquidity and ancillary purposes.
Tang said the company would launch similar funds in the near future, depending on the response from retail investors and the global market situation. As at Dec 31, CIMB-Principal had total assets of RM16.4bil under management.
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.
Showing posts with label CIMB. Show all posts
Showing posts with label CIMB. Show all posts
Friday, January 16, 2009
Tuesday, December 16, 2008
CIMB Bank upbeat on unit trust division
TheStar
It’s optimistic on demand for long-term investment products
KUALA LUMPUR: CIMB Bank Bhd is optimistic on its unit trust business despite the uncertain and volatile outlook on equity markets.
Retail banking head Peter England said yesterday that the demand for long-term investment instruments like unit trusts would still be good.
“Our strategy is to encourage clients to think from the longer term perspective, such as 10 to 15 years, when purchasing investment products,” he told reporters after launching CIMB Clicks eInvest, an online portal for unit trust investment.
He said it was difficult to predict the market sentiment going forward but the outlook for the Malaysian market remained positive.
“The Malaysian market has no fundamental problems like in the US, Britain or Australia and we have no issue in the banking sector,” he said, adding that the lenders could still afford to lend.
He said the bank had not tightened up its lending activities. “We have always believed in lending money to people,” he added.
England said the bank had not changed the ratio between corporate and personal financing although it already anticipated some slowdown in the small and medium-scale enterprise and car loan segments.
“The markets we’ve been very active in have been residential mortgage, non-residential mortgage and credit cards. I think to a certain extent those things will continue (at the current level), while corporate business will come and go,” he said.
Asked on the possibility of a further interest rate cut by Bank Negara, he said: “The assumption is it will drop a bit more. Guess we’ll have to wait and see what Bank Negara does. It is likely that there will be another cut next year.”
On its newly-launched CIMB Clicks eInvest, England said the bank targeted 2,000 users next year for the portal, representing 10% of its existing 20,000 unit trust holders.
Investors using the portal can enjoy lower sales charges ranging from 0% to 2.5% of total sum invested compared to up to 6.5% for traditional transactions (via bank or agent).
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.
It’s optimistic on demand for long-term investment products
KUALA LUMPUR: CIMB Bank Bhd is optimistic on its unit trust business despite the uncertain and volatile outlook on equity markets.
Retail banking head Peter England said yesterday that the demand for long-term investment instruments like unit trusts would still be good.
“Our strategy is to encourage clients to think from the longer term perspective, such as 10 to 15 years, when purchasing investment products,” he told reporters after launching CIMB Clicks eInvest, an online portal for unit trust investment.
He said it was difficult to predict the market sentiment going forward but the outlook for the Malaysian market remained positive.
“The Malaysian market has no fundamental problems like in the US, Britain or Australia and we have no issue in the banking sector,” he said, adding that the lenders could still afford to lend.
He said the bank had not tightened up its lending activities. “We have always believed in lending money to people,” he added.
England said the bank had not changed the ratio between corporate and personal financing although it already anticipated some slowdown in the small and medium-scale enterprise and car loan segments.
“The markets we’ve been very active in have been residential mortgage, non-residential mortgage and credit cards. I think to a certain extent those things will continue (at the current level), while corporate business will come and go,” he said.
Asked on the possibility of a further interest rate cut by Bank Negara, he said: “The assumption is it will drop a bit more. Guess we’ll have to wait and see what Bank Negara does. It is likely that there will be another cut next year.”
On its newly-launched CIMB Clicks eInvest, England said the bank targeted 2,000 users next year for the portal, representing 10% of its existing 20,000 unit trust holders.
Investors using the portal can enjoy lower sales charges ranging from 0% to 2.5% of total sum invested compared to up to 6.5% for traditional transactions (via bank or agent).
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, October 16, 2008
CIMB-Principal: Stay invested
BusinessTimes
Malaysian investors should take a long-term view of between three and five years and take advantage of the current cheap valuations, says CIMB-Principal CEO
THE global financial crisis may have wiped out trillion dollars worth of assets, but this should not deter local investors from investing in the stock market, said CIMB-Principal Asset Management Bhd chief executive officer Datuk Noripah Kamso.
She said investors should take a long-term view of between three and five years and take advantage of the current cheap valuations.
"And when they invest, they must do so through a regular savings plan and do not invest in one lump sum," she said at a media briefing on how to invest in difficult markets in Kuala Lumpur yesterday.
"Stay invested and do not try to time the market," she said, adding that the global recession will pass and market will rebound.
Chief investment officer Raymond Tang said if investors save slowly in capital market funds, they will get the returns.
"Buy when there is blood in the street," he said.
Tang said some US$1.8 trillion (RM6.32 trillion) worth of assets have been marked down worldwide by the US subprime crisis.
"In Asia, in the short term, there will be secondary effects but countries with strong domestic demand such as China and India will be able to withstand this," Tang said.
He said there is a lot of liquidity in the system now in Asia although banks are becoming more cautious in lending, but the slowdown may only be for the next six months or so.
"There will still be some growth as inflation is not going to be as bad in the months to come. Malaysian corporates are also in a better gearing position than they were 10 years ago and it is time that we should stop overly relying on the US market."
CIMB-Principal Asset Management, in trying to encourage the investing public to take advantage of the current situation to invest defensively, has put together eight core funds from over 70 funds it manages, into what it calls Flagship Funds.
The funds, said Noripah, have consistent long-term risk-adjusted returns and are widely diversified across different sectors and asset classes.
The funds are four conventional ones namely CIMB-Principal Equity Fund, CIMB-Principal Equity Growth and Income Fund, CIMB-Principal Balanced Fund and CIMB-Principal Bond Fund.
The other four are Islamic funds, namely CIMB Islamic Dali Equity Growth Fund, CIMB Islamic Dali Equity Fund, CIMB Islamic Balanced Fund and CIMB Islamic Balanced Growth Fund.
Out of the eight funds, three are invested up to 50 per cent in the Asia Pacific markets, excluding Japan.
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.
Malaysian investors should take a long-term view of between three and five years and take advantage of the current cheap valuations, says CIMB-Principal CEO
THE global financial crisis may have wiped out trillion dollars worth of assets, but this should not deter local investors from investing in the stock market, said CIMB-Principal Asset Management Bhd chief executive officer Datuk Noripah Kamso.
She said investors should take a long-term view of between three and five years and take advantage of the current cheap valuations.
"And when they invest, they must do so through a regular savings plan and do not invest in one lump sum," she said at a media briefing on how to invest in difficult markets in Kuala Lumpur yesterday.
"Stay invested and do not try to time the market," she said, adding that the global recession will pass and market will rebound.
Chief investment officer Raymond Tang said if investors save slowly in capital market funds, they will get the returns.
"Buy when there is blood in the street," he said.
Tang said some US$1.8 trillion (RM6.32 trillion) worth of assets have been marked down worldwide by the US subprime crisis.
"In Asia, in the short term, there will be secondary effects but countries with strong domestic demand such as China and India will be able to withstand this," Tang said.
He said there is a lot of liquidity in the system now in Asia although banks are becoming more cautious in lending, but the slowdown may only be for the next six months or so.
"There will still be some growth as inflation is not going to be as bad in the months to come. Malaysian corporates are also in a better gearing position than they were 10 years ago and it is time that we should stop overly relying on the US market."
CIMB-Principal Asset Management, in trying to encourage the investing public to take advantage of the current situation to invest defensively, has put together eight core funds from over 70 funds it manages, into what it calls Flagship Funds.
The funds, said Noripah, have consistent long-term risk-adjusted returns and are widely diversified across different sectors and asset classes.
The funds are four conventional ones namely CIMB-Principal Equity Fund, CIMB-Principal Equity Growth and Income Fund, CIMB-Principal Balanced Fund and CIMB-Principal Bond Fund.
The other four are Islamic funds, namely CIMB Islamic Dali Equity Growth Fund, CIMB Islamic Dali Equity Fund, CIMB Islamic Balanced Fund and CIMB Islamic Balanced Growth Fund.
Out of the eight funds, three are invested up to 50 per cent in the Asia Pacific markets, excluding Japan.
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, September 19, 2008
CIMB to manage MAA Takaful's funds
BusinessTimes
MAA Takaful Bhd has hired CIMB-Principal Asset Management Bhd to manage its investment-linked fund portfolio.
Under the pact, three of MAA Takaful's funds will be managed by CIMB-Principal - the Syariah Growth Fund, Syariah Balanced Fund and Syariah Income Fund.
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.
MAA Takaful Bhd has hired CIMB-Principal Asset Management Bhd to manage its investment-linked fund portfolio.
Under the pact, three of MAA Takaful's funds will be managed by CIMB-Principal - the Syariah Growth Fund, Syariah Balanced Fund and Syariah Income Fund.
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, September 4, 2008
CIMB-Principal Islamic raises size of funds
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.
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-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.
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, July 17, 2008
CIMB’s new fund relies on legendary names for investment
TheEdge
KUALA LUMPUR: CIMB Investment Bank Bhd has launched Dynamic Best of Gurus floating rate negotiable instrument of deposit fund (FRNID) that enables investors to benefit from the expertise of famous investment gurus, namely Warren Buffett, William Gross, Mark Mobius and Jim Rogers.
The FRNID enables investors to invest in equities, bonds, emerging market equities and commodities, with a minimum investment of RM100,000. The returns are based on the best performer out of the four selected portfolios.
“Investors the world over recognise these legendary names but may not be able to benefit from their expertise due to the high entry costs into their companies or funds.
“By combining our expertise in treasury products and risk management with our distribution network, we are able to provide this investment exposure to the mass affluent in Malaysia,” said CIMB’s group treasurer Lee K Kwan.
The fund has a choice of three-year without guaranteed coupon, five-year without guaranteed coupon and five-year with guaranteed coupon. The five-year guaranteed coupon gives out guaranteed return only for the first three years, which is 5% in year one, 3% in year two and 2% in year three.
According to CIMB’s market investigation from early 2001 to April 2008, the average annual return for the three-year without guaranteed coupon plan, five-year without guaranteed coupon plan and five-year with guaranteed coupon plan are 17.65%, 23.78% and 9.13%, respectively.
The return for the three-year without guaranteed fund is an unlimited payout at maturity. Meanwhile, for both of the five-year plans, 50% of the annual return would be paid to investors and the remainder would be reinvested in the fund.
The FRNID, which would be managed by CIMB Group, comes with the assurance of daily prices and liquidity that allow investors to cash out their capital gains prior to the maturity of the investment, without any charge or penalty. Meanwhile, the capital is guaranteed by the bank at maturity.
The Dynamic Best of Gurus FRNID is available at all CIMB Bank branches and CIMB Private Banking from July 15 to 31.
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 has launched Dynamic Best of Gurus floating rate negotiable instrument of deposit fund (FRNID) that enables investors to benefit from the expertise of famous investment gurus, namely Warren Buffett, William Gross, Mark Mobius and Jim Rogers.
The FRNID enables investors to invest in equities, bonds, emerging market equities and commodities, with a minimum investment of RM100,000. The returns are based on the best performer out of the four selected portfolios.
“Investors the world over recognise these legendary names but may not be able to benefit from their expertise due to the high entry costs into their companies or funds.
“By combining our expertise in treasury products and risk management with our distribution network, we are able to provide this investment exposure to the mass affluent in Malaysia,” said CIMB’s group treasurer Lee K Kwan.
The fund has a choice of three-year without guaranteed coupon, five-year without guaranteed coupon and five-year with guaranteed coupon. The five-year guaranteed coupon gives out guaranteed return only for the first three years, which is 5% in year one, 3% in year two and 2% in year three.
According to CIMB’s market investigation from early 2001 to April 2008, the average annual return for the three-year without guaranteed coupon plan, five-year without guaranteed coupon plan and five-year with guaranteed coupon plan are 17.65%, 23.78% and 9.13%, respectively.
The return for the three-year without guaranteed fund is an unlimited payout at maturity. Meanwhile, for both of the five-year plans, 50% of the annual return would be paid to investors and the remainder would be reinvested in the fund.
The FRNID, which would be managed by CIMB Group, comes with the assurance of daily prices and liquidity that allow investors to cash out their capital gains prior to the maturity of the investment, without any charge or penalty. Meanwhile, the capital is guaranteed by the bank at maturity.
The Dynamic Best of Gurus FRNID is available at all CIMB Bank branches and CIMB Private Banking from July 15 to 31.
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, July 15, 2008
SC approves three Islamic fund licences
TheStar
KUALA LUMPUR: The Securities Commission has approved three new licences, to Kuwait Finance House, DBS Asset Management and CIMB-Principal Islamic Asset Management for the establishment of Islamic fund management companies in Malaysia.
It was also currently evaluating proposals from other leading fund management companies to establish Islamic fund management operations in Malaysia, the commission said in a statement yesterday.
Chairman Datuk Zarinah Anwar said the approval of these three companies would play a catalytic role in the internationalisation of our Islamic capital market.
Meanwhile, Kuwait Finance House (M) Bhd managing director Datuk K. Salman Younis said the group's fund management activities in the region would be consolidated through this platform.
He said the group was excited by the growth prospects that the Malaysian capital market was offering.
DBS Asset Management Ltd CEO Deborah Ho said: “We are pleased to leverage on our existing partnership with Hwang-DBS (M) to set up a dedicated Islamic fund management company.”
The new entity would structure and distribute Islamic asset management products across Asia via synergies with DBS and DBS’ Islamic Bank of Asia, she said, adding that the group was now awaiting the necessary regulatory approvals from the Monetary Authority of Singapore to set it up. – 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: The Securities Commission has approved three new licences, to Kuwait Finance House, DBS Asset Management and CIMB-Principal Islamic Asset Management for the establishment of Islamic fund management companies in Malaysia.
It was also currently evaluating proposals from other leading fund management companies to establish Islamic fund management operations in Malaysia, the commission said in a statement yesterday.
Chairman Datuk Zarinah Anwar said the approval of these three companies would play a catalytic role in the internationalisation of our Islamic capital market.
Meanwhile, Kuwait Finance House (M) Bhd managing director Datuk K. Salman Younis said the group's fund management activities in the region would be consolidated through this platform.
He said the group was excited by the growth prospects that the Malaysian capital market was offering.
DBS Asset Management Ltd CEO Deborah Ho said: “We are pleased to leverage on our existing partnership with Hwang-DBS (M) to set up a dedicated Islamic fund management company.”
The new entity would structure and distribute Islamic asset management products across Asia via synergies with DBS and DBS’ Islamic Bank of Asia, she said, adding that the group was now awaiting the necessary regulatory approvals from the Monetary Authority of Singapore to set it up. – 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.
Wednesday, July 2, 2008
CIMB-Principal manages CIMB Wealth Advisors funds
TheEdge
KUALA LUMPUR: CIMB-Principal Asset Management Bhd started to manage, beginning yesterday, all of CIMB Wealth Advisors Bhd’s conventional unit trust funds except for the CIMB-Principal KLCI-Linked Fund, CIMB Group said in a statement.
It said, concurrently, the Islamic funds of both CIMB-Principal and CIMB Wealth Advisors would now be managed by CIMB-Principal Islamic Asset Management Sdn Bhd.
CIMB said these moves were in line with CIMB-Principal and CIMB Wealth Advisors’ efforts to streamline their business activities.
CIMB-Principal chief executive Datuk Noripah Kamso said with the rationalisation, it would focus on manufacturing and managing conventional unit trust funds while CIMB Wealth Advisors would concentrate on distributing and packaging investment products.
Meanwhile, CIMB Wealth Advisors CEO Tan Beng Wah said 16 conventional funds were transferred from CIMB Wealth Advisors to CIMB-Principal. “We will undertake the distribution of CIMB-Principal’s funds to retail investors while continuing to manage the CIMB-Principal KLCI-Linked Fund.”
He said CIMB Wealth Advisors would continue to be a multi-financial services and product platform, serving the growing needs of customers by offering unit trust funds, insurance and other investment products.
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 started to manage, beginning yesterday, all of CIMB Wealth Advisors Bhd’s conventional unit trust funds except for the CIMB-Principal KLCI-Linked Fund, CIMB Group said in a statement.
It said, concurrently, the Islamic funds of both CIMB-Principal and CIMB Wealth Advisors would now be managed by CIMB-Principal Islamic Asset Management Sdn Bhd.
CIMB said these moves were in line with CIMB-Principal and CIMB Wealth Advisors’ efforts to streamline their business activities.
CIMB-Principal chief executive Datuk Noripah Kamso said with the rationalisation, it would focus on manufacturing and managing conventional unit trust funds while CIMB Wealth Advisors would concentrate on distributing and packaging investment products.
Meanwhile, CIMB Wealth Advisors CEO Tan Beng Wah said 16 conventional funds were transferred from CIMB Wealth Advisors to CIMB-Principal. “We will undertake the distribution of CIMB-Principal’s funds to retail investors while continuing to manage the CIMB-Principal KLCI-Linked Fund.”
He said CIMB Wealth Advisors would continue to be a multi-financial services and product platform, serving the growing needs of customers by offering unit trust funds, insurance and other investment products.
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, June 5, 2008
CIMB-Principal’s MENA Equity fund size raised
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.
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: 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.
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, May 7, 2008
CIMB Wealth’s new plan
TheStar
KUALA LUMPUR: CIMB Wealth Advisors Bhd expects to sell 5,000 packages annually of its flexible 3-in-1 education plan that doubles up as a savings plan for those without children or other beneficiaries.
The plan is a collaboration with CIMB Aviva, CIMB Trustee Bhd and CIMB-Principal Asset Management Bhd.
Chief executive officer Tan Beng Wah said the target was to sell 400 packages a month or up to 5,000 packages a year.
“Households today spend on average 5% to 7% of their annual income on education, with most of them depending on investments or scholarships for their children's tertiary education,” he said at the plan launch yesterday.
Tan said although households had seen their discretionary spending curbed due to the escalating costs of living, the plan came at an opportune time since there were no such product in Malaysia combining investment, insurance and nomination services.
The package's investment feature is based on an evolving strategy whereby investments are made in higher risk products in the beginning and in lower risks or fixed-income products as the plan nears maturity.
Tan said the package's insurance or takaful feature would safeguard the fund in the event of death or disability while the trust would make sure the beneficiary received the amount at maturity.
The 3-in-1 education plan combines unit trust investment, insurance or takaful coverage and trust nomination services. It is targeted at households with a monthly income of at least RM5,000.
The package is available in the conventional and syariah-compliant versions, with investment tenure from nine to 20 years and a targeted savings horizon.
The minimum initial investment is RM1,000, excluding nomination fees. After that, it would depend on the investor's package timeline and amount to be saved.
Tan said CIMB Wealth Advisors was also looking at rolling out post-retirement and other long-term investment products.
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 expects to sell 5,000 packages annually of its flexible 3-in-1 education plan that doubles up as a savings plan for those without children or other beneficiaries.
The plan is a collaboration with CIMB Aviva, CIMB Trustee Bhd and CIMB-Principal Asset Management Bhd.
Chief executive officer Tan Beng Wah said the target was to sell 400 packages a month or up to 5,000 packages a year.
“Households today spend on average 5% to 7% of their annual income on education, with most of them depending on investments or scholarships for their children's tertiary education,” he said at the plan launch yesterday.
Tan said although households had seen their discretionary spending curbed due to the escalating costs of living, the plan came at an opportune time since there were no such product in Malaysia combining investment, insurance and nomination services.
The package's investment feature is based on an evolving strategy whereby investments are made in higher risk products in the beginning and in lower risks or fixed-income products as the plan nears maturity.
Tan said the package's insurance or takaful feature would safeguard the fund in the event of death or disability while the trust would make sure the beneficiary received the amount at maturity.
The 3-in-1 education plan combines unit trust investment, insurance or takaful coverage and trust nomination services. It is targeted at households with a monthly income of at least RM5,000.
The package is available in the conventional and syariah-compliant versions, with investment tenure from nine to 20 years and a targeted savings horizon.
The minimum initial investment is RM1,000, excluding nomination fees. After that, it would depend on the investor's package timeline and amount to be saved.
Tan said CIMB Wealth Advisors was also looking at rolling out post-retirement and other long-term investment products.
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, April 22, 2008
CIMB unit launches 2 Islamic commodity funds
BusinessTimes
CIMB-PRINCIPAL Asset Management Bhd has launched two syariah-compliant funds that allow investors to benefit from the commodities boom.
The new funds will give them exposure to energy, agriculture products and metals via structured products.
"The commodities story is about supply not being able to keep up with very strong demand globally, particularly from the emerging economies in Asia," chief executive Datuk Noripah Kamso said at the launch in Kuala Lumpur yesterday.
Known as the CIMB Islamic Commodities Structured Fund 1 and 2, they invest in structured products, which are principal protected when held to maturity.
This makes them ideal for investors seeking refuge from market volatility, Noripah said.
She said these funds also allow investors to gain from the potential rise in commodities prices.
"The back testing of any commodities investment would show that the returns are high. Scarcity will drive up the prices," CIMB Group chief executive officer Datuk Nazir Razak said.
Chief investment officer Raymond Tang said the funds can potentially return between 10 per cent and 15 per cent per year.
Prices of commodities generally do not move in tandem with those of the stocks and bonds, Noripah said, thus they provide a useful diversification tool to investors.
The first fund is a close-end fund. It will invest at least 95 per cent of assets in a three-year Islamic Dynamic Best of Commodity Structured Product, to be issued by CIMB Investment Bank. The second fund is similar in structure, but has a five-year tenure.
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-PRINCIPAL Asset Management Bhd has launched two syariah-compliant funds that allow investors to benefit from the commodities boom.
The new funds will give them exposure to energy, agriculture products and metals via structured products.
"The commodities story is about supply not being able to keep up with very strong demand globally, particularly from the emerging economies in Asia," chief executive Datuk Noripah Kamso said at the launch in Kuala Lumpur yesterday.
Known as the CIMB Islamic Commodities Structured Fund 1 and 2, they invest in structured products, which are principal protected when held to maturity.
This makes them ideal for investors seeking refuge from market volatility, Noripah said.She said these funds also allow investors to gain from the potential rise in commodities prices.
"The back testing of any commodities investment would show that the returns are high. Scarcity will drive up the prices," CIMB Group chief executive officer Datuk Nazir Razak said.
Chief investment officer Raymond Tang said the funds can potentially return between 10 per cent and 15 per cent per year.
Prices of commodities generally do not move in tandem with those of the stocks and bonds, Noripah said, thus they provide a useful diversification tool to investors.
The first fund is a close-end fund. It will invest at least 95 per cent of assets in a three-year Islamic Dynamic Best of Commodity Structured Product, to be issued by CIMB Investment Bank. The second fund is similar in structure, but has a five-year tenure.
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, April 18, 2008
CIMB increases Islamic DALI fund sizev
TheStar
KUALA LUMPUR: CIMB-Principal Asset Management Bhd has increased the fund size of its CIMB Islamic DALI Equity Theme Fund to 900 million units from 600 million units.
The fund, which invests in Malaysia's promising sectors such as oil and gas, construction, and plantations, had received overwhelming response, chief executive Datuk Noripah Kamso said in a statement.
It seeks to provide investors with medium to long term capital appreciation by investing in Malaysian securities according to prevailing investment themes, she said.
The fund invests up to 98% of its net asset value in syariah-compliant equities listed on Bursa 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.
KUALA LUMPUR: CIMB-Principal Asset Management Bhd has increased the fund size of its CIMB Islamic DALI Equity Theme Fund to 900 million units from 600 million units.
The fund, which invests in Malaysia's promising sectors such as oil and gas, construction, and plantations, had received overwhelming response, chief executive Datuk Noripah Kamso said in a statement.
It seeks to provide investors with medium to long term capital appreciation by investing in Malaysian securities according to prevailing investment themes, she said.
The fund invests up to 98% of its net asset value in syariah-compliant equities listed on Bursa 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.
Wednesday, March 26, 2008
Latest CIMB-Principal fund to invest in Asia
TheStar
KUALA LUMPUR: CIMB-Principal Asset Management Bhd yesterday launched the CIMB-Principal Asia Infrastructure Fund that aims to invest in fast-growing and high-return Asian companies involved in infrastructure activities.
The fund, which has an approved size of 300 million units at 50 sen each, is a feeder fund that will invest in Invesco Asia Infrastructure Fund.
CIMB-Principal Asset Management chief executive Datuk Noripah Kamso said the feeder fund would use the money raised to invest in Asia’s booming infrastructure needs.
Several hundred billion dollars are expected to be spent on infrastructure throughout Asia, which would result in a sustained strong demand for companies in the Asian infrastructure sector.
Noripah said the long-term duration of infrastructure assets meant it would also be less affected by volatility and investors stood to benefit from Invesco’s track record.
For the past year, the Invesco fund, which invests predominantly in companies in China, India, Hong Kong, South Korea and Australia, had returns of 42%.
“Since infrastructure projects typically run for over 10 years or more, infrastructure companies often demonstrate sustainable and stable earnings growth,” Noripah said.
“The CIMB-Principal Asia Infrastructure Equity Fund, in particular, seeks investments in infrastructure securities that will enjoy a potentially steady, long-term stream.”
The minimum investment in this fund is RM1,000 and the fund’s initial offer period ends on April 14.
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 CIMB-Principal Asia Infrastructure Fund that aims to invest in fast-growing and high-return Asian companies involved in infrastructure activities.
The fund, which has an approved size of 300 million units at 50 sen each, is a feeder fund that will invest in Invesco Asia Infrastructure Fund.
CIMB-Principal Asset Management chief executive Datuk Noripah Kamso said the feeder fund would use the money raised to invest in Asia’s booming infrastructure needs.
Several hundred billion dollars are expected to be spent on infrastructure throughout Asia, which would result in a sustained strong demand for companies in the Asian infrastructure sector.
Noripah said the long-term duration of infrastructure assets meant it would also be less affected by volatility and investors stood to benefit from Invesco’s track record.
For the past year, the Invesco fund, which invests predominantly in companies in China, India, Hong Kong, South Korea and Australia, had returns of 42%.
“Since infrastructure projects typically run for over 10 years or more, infrastructure companies often demonstrate sustainable and stable earnings growth,” Noripah said.
“The CIMB-Principal Asia Infrastructure Equity Fund, in particular, seeks investments in infrastructure securities that will enjoy a potentially steady, long-term stream.”
The minimum investment in this fund is RM1,000 and the fund’s initial offer period ends on April 14.
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, March 19, 2008
CIMB-Principal launches Islamic money market fund
TheEdge
KUALA LUMPUR: CIMB-Principal Asset Management Bhd has launched an Islamic money market fund as a tax-efficient alternative to traditional bank deposits that allows investors to wait out and see through the current market volatility by parking their funds in instruments with minimal risk.
In a statement yesterday, CIMB-Principal said CIMB Islamic Money Market Fund, a syariah-compliant fund that invests in short-term money market instruments maturing in less than a year, allowed investors to withdraw their cash anytime without penalty.
“The CIMB Islamic Money Market Fund gives investors a place to park their money with minimal risk. This fund also aims to provide stability by giving investors a potential steady stream of monthly income,” CIMB-Princiapl chief executive Datuk Noripah Kamso.
The Islamic money market instruments include Islamic accepted bills, Islamic negotiable instruments of deposit, Islamic repurchase agreements (Repo-I) as well as other Islamic fixed income instruments and placements of Islamic deposits with licensed financial institutions, all of which are highly liquid.
“Investors who are in the midst of restructuring their portfolio or simply waiting for the opportune time to make their next investment move will find CIMB Islamic Money Market Fund a suitable investment,” Noripah said. With an approved fund size of 100 million units, the minimum investment for the fund is RM5,000, with a unit selling price of RM1.
She said the new fund would invest 10% of its net asset value (NAV) in Islamic fixed income instruments and up to 90% in quality Islamic money market instruments. The fund is distributed by CIMB Wealth Advisors, CIMB Bank, CIMB Private Banking and Standard Chartered Bank.
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 has launched an Islamic money market fund as a tax-efficient alternative to traditional bank deposits that allows investors to wait out and see through the current market volatility by parking their funds in instruments with minimal risk.
In a statement yesterday, CIMB-Principal said CIMB Islamic Money Market Fund, a syariah-compliant fund that invests in short-term money market instruments maturing in less than a year, allowed investors to withdraw their cash anytime without penalty.
“The CIMB Islamic Money Market Fund gives investors a place to park their money with minimal risk. This fund also aims to provide stability by giving investors a potential steady stream of monthly income,” CIMB-Princiapl chief executive Datuk Noripah Kamso.
The Islamic money market instruments include Islamic accepted bills, Islamic negotiable instruments of deposit, Islamic repurchase agreements (Repo-I) as well as other Islamic fixed income instruments and placements of Islamic deposits with licensed financial institutions, all of which are highly liquid.
“Investors who are in the midst of restructuring their portfolio or simply waiting for the opportune time to make their next investment move will find CIMB Islamic Money Market Fund a suitable investment,” Noripah said. With an approved fund size of 100 million units, the minimum investment for the fund is RM5,000, with a unit selling price of RM1.
She said the new fund would invest 10% of its net asset value (NAV) in Islamic fixed income instruments and up to 90% in quality Islamic money market instruments. The fund is distributed by CIMB Wealth Advisors, CIMB Bank, CIMB Private Banking and Standard Chartered Bank.
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, March 17, 2008
CIMB-Principal Equity Growth Fund gets 8 sen distribution
TheEdge
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a gross income distribution of eight sen per unit for holders of its CIMB-Principal Equity Growth Fund & Income Fund, formerly SBB Double Growth Fund.
In a statement yesterday, CIMB Wealth said the payout amounted to 6.7% of the fund’s net asset value per unit as at Feb 29, 2008.
“This fund has performed well, giving total returns of 176.16% since it was first launched,” said CIMB Wealth Advisors chief executive officer, Tan Beng Wah.
Launched in May 1991, the fund enables investors to achieve capital appreciation over the medium to long term via all types of investments with the potential for above average growth.
CIMB Wealth said the fund was targeted at investors looking for capital appreciation for the long term, with dividend income being secondary and investors willing to take moderate risk in pursuit of potentially better returns would benefit from the fund.
CIMB Wealth Advisors is a subsidiary of CIMB-Principal Asset Management Bhd, which is jointly owned by CIMB Group and the Principal Financial Group
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 eight sen per unit for holders of its CIMB-Principal Equity Growth Fund & Income Fund, formerly SBB Double Growth Fund.
In a statement yesterday, CIMB Wealth said the payout amounted to 6.7% of the fund’s net asset value per unit as at Feb 29, 2008.
“This fund has performed well, giving total returns of 176.16% since it was first launched,” said CIMB Wealth Advisors chief executive officer, Tan Beng Wah.
Launched in May 1991, the fund enables investors to achieve capital appreciation over the medium to long term via all types of investments with the potential for above average growth.
CIMB Wealth said the fund was targeted at investors looking for capital appreciation for the long term, with dividend income being secondary and investors willing to take moderate risk in pursuit of potentially better returns would benefit from the fund.
CIMB Wealth Advisors is a subsidiary of CIMB-Principal Asset Management Bhd, which is jointly owned by CIMB Group and the Principal Financial Group
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, March 6, 2008
CIMB-Principal to focus on O&G, plantations, construction
TheEdge
KUALA LUMPUR: CIMB-Principal Asset Management Bhd will put their investors money mainly in local oil and gas (O&G) companies, plantation and construction stocks.
The asset management company also plans to launch 20 unit trust schemes this year, an exercise that is expected to increase its fund size by more than a third to some RM26 billion.
Speaking to reporters yesterday at the launch of the CIMB Islamic DALI Equity Theme Fund, the firm’s third new offering this year, CIMB-Principal chief executive Datuk Noripah Kamso said Malaysia’s O&G sector would be driven by global energy demand, while soaring palm oil prices, and construction jobs under the Ninth Malaysian Plan would spur the plantation and construction industries respectively.
“Our remaining 17 funds will be largely Islamic because we are targeting the Middle East market,” Noripah said.
Of the 20 schemes to be unveiled this year, seven products will be launched by the firm’s Indonesian unit. Last year, CIMB-Principal Asset Management launched 11 new offerings to reach a combined fund size of approximately RM19 billion.
Meanwhile, the CIMB Islamic DALI Equity Theme Fund, expected to yield up to 12% in annual returns, will, initially, capitalise on the growth of local O&G, plantation and construction stocks, said Noripah.
At 25 sen apiece, the open-ended 600 million unit fund translates into a RM150 million scheme that will invest 98% of its net asset value in Islamic-compliant shares on the local exchange.
“Targeted returns for this fund will range from 8% to 12 % per annum. Malaysia is resilient in the global backdrop,” she said.
The unit trust is also expected to invest in other growth sectors including water, automobile and retail, according to its prospectus dated Feb 18.
Meanwhile, according to the Lipper FundMarket Insight Reports on Malaysian unit trust funds, Islamic schemes here fell 2.83% in January but still outperformed the broader unit trust market’s 3.99% drop during the month.
The broader market’s dip came because equity funds had to bear the brunt of the downturn in global bourses to finish at the bottom of the scoreboard with a 6.47% loss, dragged down by losses in funds investing overseas, notably greater China, and real estate plays.
In 2007, Islamic unit trusts rose 1.95% in December to end the year with a 22.84% gain, surpassing the overall unit trust market’s 1.42% and 21.33% advance respectively, as soaring commodity prices bolstered the Kuala Lumpur Composite Index.
CIMB-Principal, formerly known as Commerce Trust Berhad, is jointly-owned by CIMB Group and US-based Principal Financial Group on a 60:40 equity basis.
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 will put their investors money mainly in local oil and gas (O&G) companies, plantation and construction stocks.
The asset management company also plans to launch 20 unit trust schemes this year, an exercise that is expected to increase its fund size by more than a third to some RM26 billion.
Speaking to reporters yesterday at the launch of the CIMB Islamic DALI Equity Theme Fund, the firm’s third new offering this year, CIMB-Principal chief executive Datuk Noripah Kamso said Malaysia’s O&G sector would be driven by global energy demand, while soaring palm oil prices, and construction jobs under the Ninth Malaysian Plan would spur the plantation and construction industries respectively.
“Our remaining 17 funds will be largely Islamic because we are targeting the Middle East market,” Noripah said.
Of the 20 schemes to be unveiled this year, seven products will be launched by the firm’s Indonesian unit. Last year, CIMB-Principal Asset Management launched 11 new offerings to reach a combined fund size of approximately RM19 billion.
Meanwhile, the CIMB Islamic DALI Equity Theme Fund, expected to yield up to 12% in annual returns, will, initially, capitalise on the growth of local O&G, plantation and construction stocks, said Noripah.
At 25 sen apiece, the open-ended 600 million unit fund translates into a RM150 million scheme that will invest 98% of its net asset value in Islamic-compliant shares on the local exchange.
“Targeted returns for this fund will range from 8% to 12 % per annum. Malaysia is resilient in the global backdrop,” she said.
The unit trust is also expected to invest in other growth sectors including water, automobile and retail, according to its prospectus dated Feb 18.
Meanwhile, according to the Lipper FundMarket Insight Reports on Malaysian unit trust funds, Islamic schemes here fell 2.83% in January but still outperformed the broader unit trust market’s 3.99% drop during the month.
The broader market’s dip came because equity funds had to bear the brunt of the downturn in global bourses to finish at the bottom of the scoreboard with a 6.47% loss, dragged down by losses in funds investing overseas, notably greater China, and real estate plays.
In 2007, Islamic unit trusts rose 1.95% in December to end the year with a 22.84% gain, surpassing the overall unit trust market’s 1.42% and 21.33% advance respectively, as soaring commodity prices bolstered the Kuala Lumpur Composite Index.
CIMB-Principal, formerly known as Commerce Trust Berhad, is jointly-owned by CIMB Group and US-based Principal Financial Group on a 60:40 equity basis.
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
Noripah bags Asia Asset Management CEO of the Year award
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.
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 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
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
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.
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