BusinessTimes
PRUDENTIAL Fund Management Bhd (PFMB) has declared an income distribution of 3.56 sen per unit to unit holders of Prudential Balanced Fund. The distribution is equivalent to 5 per cent on Net Asset Value of the Fund as at 31 July 2009.
All unit holders who have maintained their unit holdings as at 24 August 2009 will be entitled to this income distribution.
PRUbalanced fund invests in a mixed portfolio of companies with good dividend yield and low price volatility and a portfolio of investment-grade fixed-income securities.
The Fund has met is objective of providing investors with capital appreciation and a reasonable level of income over the longer term. The Fund charted a 1, 3 and 5-year return of 5.01 per cent, 32.27 per cent and 41.30 per cent respectively.
Since its inception on 29 May 2001, the Fund recorded a return of 117.98 per cent, outperforming its benchmark, by 48.20 per cent.
This would be the fourth income distribution for the Fund since its inception.
“The Fund benefited from selected big-cap holdings especially the banks, as investors positioned their funds to reflect the new weighting in the new FBMKLCI index. The banking sector comprises a major sector weighting for the new index. The Fund’s exposure in corporate bonds also helped the Fund’s relative performance as corporate bonds yield higher returns than the benchmark RAM quant shop Medium Index in June,” PFMB CEO-Designate Thomas Cheong said in a statement.
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 Prudential. Show all posts
Showing posts with label Prudential. Show all posts
Monday, August 24, 2009
Tuesday, December 16, 2008
Cash is not lone option, advises fund manager
TheEdge
KUALA LUMPUR: Cash is not the only choice in difficult times as there are many investment opportunities to improve returns in the long term, said Prudential Fund Management Bhd John Lim Eu Hock(PFMB) chief investment officer Yoon Mun Thim.
In a media briefing last week on the topic Cash Is King, But For How Long?, he advised investors to carry out individual risk profiling to judge their own willingness for long-term investments as the market would continue to remain volatile for 2009.
“There is a great chance that you will lose money in the near term, and if you can’t take that kind of volatility, then you should go for something safer,” he said.
He said the situation was different from the Asian financial crisis 10 years ago, when fixed deposit (FD) rates of between 6% and 10% made it worthwhile to retain cash savings. However, with FD rates in recent years below 4%, playing it safe may not be such an appealing option.
Taking a worst-case scenario of the slowdown lasting five years, he advised investors to find investment opportunities that could yield more than 19%, which is the compounded FD interest rate of that period.
“I would advocate to have some risks. Bonds still give more certainty than shares as long as you choose carefully papers from companies that won’t default,” he said.
He added that while investing in the equity market was riskier, many stocks were priced at crisis lows with some values starting to emerge. As an indicator of increasing values, he cited that many listed companies now had lower price-to-book ratios, price-to-sales ratios, and price-to-cash flow ratios than the KLCI average.
“Equities have a history of bouncing back stronger, so the chances of you making a return are high if the companies you invest in survive,” he said, adding that it was vital to do one’s homework in picking the right stock.
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: Cash is not the only choice in difficult times as there are many investment opportunities to improve returns in the long term, said Prudential Fund Management Bhd John Lim Eu Hock(PFMB) chief investment officer Yoon Mun Thim.
In a media briefing last week on the topic Cash Is King, But For How Long?, he advised investors to carry out individual risk profiling to judge their own willingness for long-term investments as the market would continue to remain volatile for 2009.
“There is a great chance that you will lose money in the near term, and if you can’t take that kind of volatility, then you should go for something safer,” he said.
He said the situation was different from the Asian financial crisis 10 years ago, when fixed deposit (FD) rates of between 6% and 10% made it worthwhile to retain cash savings. However, with FD rates in recent years below 4%, playing it safe may not be such an appealing option.
Taking a worst-case scenario of the slowdown lasting five years, he advised investors to find investment opportunities that could yield more than 19%, which is the compounded FD interest rate of that period.
“I would advocate to have some risks. Bonds still give more certainty than shares as long as you choose carefully papers from companies that won’t default,” he said.
He added that while investing in the equity market was riskier, many stocks were priced at crisis lows with some values starting to emerge. As an indicator of increasing values, he cited that many listed companies now had lower price-to-book ratios, price-to-sales ratios, and price-to-cash flow ratios than the KLCI average.
“Equities have a history of bouncing back stronger, so the chances of you making a return are high if the companies you invest in survive,” he said, adding that it was vital to do one’s homework in picking the right stock.
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, November 28, 2008
Prudential Fund Management upbeat on Malaysia’s equity market
TheEdge
KUALA LUMPUR: The Malaysian equity market is outperforming other markets in the region and is still attractive with huge upside potential.
“Companies in Bursa Malaysia also have attractive upside valuation, with price-to-book value of 1.6 times among the lowest in the region.
“All indications point to resilient and strong fundamentals among most companies listed in the local bourse,” said Robert Rountree, head of investment marketing, Prudential Fund Management Services.
Some of the sound fundamentals highlighted by Rountree are the average net gearing to equity level of less 0.5 times and the strong price-earnings ratio projection of more than eight times.
Asian countries also have reserves that are being channelled into the economy through infrastructure investments, compared to the US and Europe where funds are being used to prop up banks’ balance sheets, he said.
Rountree added that Asian equity markets could bottom out sooner than the rest if the economic growth in this region held up as Asia was becoming less dependent on the US. Stock market recovery usually started six to nine months before the end of recession, he added.
On the greatest concern for the Malaysian market, Rountree said the quality of assets in the banking sector was unknown at this moment and that could pose a danger to the loan books of the banks.
The level of households’ debt over the GDP of around 60%, which is the highest among Asean countries, poses a concern. Singapore and Indonesia for example have household debt level of around 45% and 20% respectively. But these were still way below those of the UK and the US which are over 100%, he said.
With regards to Prudential’s own funds, Rountree said one of the company’s main funds, London-based M&G Global Basic Fund — an equity fund which invests mainly in companies operating in basic primary and secondary industries — had also been hit by the stock market selldown and was down 19.9% against 10.4% for its benchmark, the FTSE global Composite Index.
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 Malaysian equity market is outperforming other markets in the region and is still attractive with huge upside potential.
“Companies in Bursa Malaysia also have attractive upside valuation, with price-to-book value of 1.6 times among the lowest in the region.
“All indications point to resilient and strong fundamentals among most companies listed in the local bourse,” said Robert Rountree, head of investment marketing, Prudential Fund Management Services.
Some of the sound fundamentals highlighted by Rountree are the average net gearing to equity level of less 0.5 times and the strong price-earnings ratio projection of more than eight times.
Asian countries also have reserves that are being channelled into the economy through infrastructure investments, compared to the US and Europe where funds are being used to prop up banks’ balance sheets, he said.
Rountree added that Asian equity markets could bottom out sooner than the rest if the economic growth in this region held up as Asia was becoming less dependent on the US. Stock market recovery usually started six to nine months before the end of recession, he added.
On the greatest concern for the Malaysian market, Rountree said the quality of assets in the banking sector was unknown at this moment and that could pose a danger to the loan books of the banks.
The level of households’ debt over the GDP of around 60%, which is the highest among Asean countries, poses a concern. Singapore and Indonesia for example have household debt level of around 45% and 20% respectively. But these were still way below those of the UK and the US which are over 100%, he said.
With regards to Prudential’s own funds, Rountree said one of the company’s main funds, London-based M&G Global Basic Fund — an equity fund which invests mainly in companies operating in basic primary and secondary industries — had also been hit by the stock market selldown and was down 19.9% against 10.4% for its benchmark, the FTSE global Composite Index.
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 1, 2008
Prudential unveils International Bank Target 8 Fund
BusinessTimes
PRUDENTIAL Fund Management Bhd (PFMB) has launched its latest product - International Bank Target 8 Fund, a two-year close-ended fund that aims to provide a steady stream of income accounted quarterly but paid only on the maturity date or earlier, if the early termination feature takes place.
Chief executive officer Mark Toh said International Bank represents the theme of the equity derivatives linked to a basket of international banking stocks, while Target 8 represents the eight quarters of possible early termination that the fund offers over its two-year tenure.
"In the wake of the subprime crisis, prices of financial stocks in Europe and US have dropped about 33 per cent from its 12-month peak of May 2007. We believe the markets could have factored in the expectations from most of the affected investment banks in US/Europe (which have announced and have written off losses).
"On this landscape, our investment specialists are optimistic over the revival of financial conglomerates thus offer investors an avenue of a potential upside with the debut of our latest product," he said.
A total of 200 million units of the fund are available for subscription until August 13 at a price of RM1 per unit for a minimum investment of RM5,000.
Interested investors can subscribe through authorised distributors of Prudential.
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.
PRUDENTIAL Fund Management Bhd (PFMB) has launched its latest product - International Bank Target 8 Fund, a two-year close-ended fund that aims to provide a steady stream of income accounted quarterly but paid only on the maturity date or earlier, if the early termination feature takes place.
Chief executive officer Mark Toh said International Bank represents the theme of the equity derivatives linked to a basket of international banking stocks, while Target 8 represents the eight quarters of possible early termination that the fund offers over its two-year tenure.
"In the wake of the subprime crisis, prices of financial stocks in Europe and US have dropped about 33 per cent from its 12-month peak of May 2007. We believe the markets could have factored in the expectations from most of the affected investment banks in US/Europe (which have announced and have written off losses).
"On this landscape, our investment specialists are optimistic over the revival of financial conglomerates thus offer investors an avenue of a potential upside with the debut of our latest product," he said.
A total of 200 million units of the fund are available for subscription until August 13 at a price of RM1 per unit for a minimum investment of RM5,000.
Interested investors can subscribe through authorised distributors of Prudential.
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
Prudential Fund’s new fund to invest in ETFs
TheEdge
KUALA LUMPUR: Prudential Fund Management Bhd (PFMB) has launched its 35th fund that aims to offset investors’ fears by providing them with capital growth over the medium to long term through investments in a diversified portfolio of exchanged traded funds (ETFs).
With an approved size of 1.2 billion units, Prudential Country Selection Fund will invest at least 95% of its net asset value in ETFs that are liquid. It is structured as a fund of funds and will be investing in at least five different ETFs, which are chosen from 22 pre-selected ETFs.
“We choose to launch this fund at this time because we feel that it is an opportune time to do so seeing that investors are concerned about the volatile conditions in the global market.
“Historical data has shown that there will always be countries that strategically outperform others. The fund mitigates global market risks by strategically diversifying its investments in the selected five performing ETFs,” said PFMB chief executive officer Mark Toh.
He said the fund managers would re-rank the ETFs every month and rebalance the portfolio accordingly. “That way, no matter what the market conditions are the fund is expected to maximise the potential of your investments,” he said in a statement in conjunction with the fund’s launch here yesterday.
“These 22 equity markets will then be ranked according to expected future performance using a total of 17 macroeconomic and fundamental research inputs. As always, we are cautiously optimistic that the fund will be well received considering that most of our distributing partners will be distributing the product,” said Toh.
The Prudential Country Selection Fund will be available for subscription from today at 25 sen per unit for a minimum investment of RM1,000. The initial offer period will end April 7.
PFMB currently manages Prudential Assurance Malaysia Bhd and Prudential BSN Takaful funds.
With the latest launch, PFMB assets under management have grown to over RM12.6 billion consisting of over RM3.7 billion from the retail unit trust business and some RM8.9 billion from private mandate. PFMB now manages 35 unit trust funds.
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: Prudential Fund Management Bhd (PFMB) has launched its 35th fund that aims to offset investors’ fears by providing them with capital growth over the medium to long term through investments in a diversified portfolio of exchanged traded funds (ETFs).
With an approved size of 1.2 billion units, Prudential Country Selection Fund will invest at least 95% of its net asset value in ETFs that are liquid. It is structured as a fund of funds and will be investing in at least five different ETFs, which are chosen from 22 pre-selected ETFs.
“We choose to launch this fund at this time because we feel that it is an opportune time to do so seeing that investors are concerned about the volatile conditions in the global market.
“Historical data has shown that there will always be countries that strategically outperform others. The fund mitigates global market risks by strategically diversifying its investments in the selected five performing ETFs,” said PFMB chief executive officer Mark Toh.
He said the fund managers would re-rank the ETFs every month and rebalance the portfolio accordingly. “That way, no matter what the market conditions are the fund is expected to maximise the potential of your investments,” he said in a statement in conjunction with the fund’s launch here yesterday.
“These 22 equity markets will then be ranked according to expected future performance using a total of 17 macroeconomic and fundamental research inputs. As always, we are cautiously optimistic that the fund will be well received considering that most of our distributing partners will be distributing the product,” said Toh.
The Prudential Country Selection Fund will be available for subscription from today at 25 sen per unit for a minimum investment of RM1,000. The initial offer period will end April 7.
PFMB currently manages Prudential Assurance Malaysia Bhd and Prudential BSN Takaful funds.
With the latest launch, PFMB assets under management have grown to over RM12.6 billion consisting of over RM3.7 billion from the retail unit trust business and some RM8.9 billion from private mandate. PFMB now manages 35 unit trust funds.
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, January 22, 2008
Prudential launches new PRUlink income retirement plan
TheStar
KUALA LUMPUR: Prudential Assurance Malaysia Bhd is targeting individuals aged 35 to 60 years for its new PRUlink income retirement plan.
“This is the first single premium investment-linked plan in the market designed to ensure that there is a guaranteed monthly income during retirement life,” said chief executive officer Tan Kar Hor.
At the recent launch of PRUlink income, he said the product presented an opportunity for Malaysians to invest just a one-time premium to be able to reap the benefits after retirement.
The minimum single premium is RM10,000, which would be invested for a fixed period ranging from five to 40 years, Tan said.
He said 95% of the single premium paid would be invested in the newly created PRUlink golden equity and bond funds (during accumulation stage) and PRUlink golden managed fund (during payout stage) for a more secured and less volatile retirement investment.
During the payout stage, the customer would receive a stream of guaranteed monthly income over a specified number of years, he added.
Tan said the product ensured higher guaranteed returns, lump sum payout, flexible withdrawals and also covered the customer for misfortunes such as death or total and permanent disability. – 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: Prudential Assurance Malaysia Bhd is targeting individuals aged 35 to 60 years for its new PRUlink income retirement plan.
“This is the first single premium investment-linked plan in the market designed to ensure that there is a guaranteed monthly income during retirement life,” said chief executive officer Tan Kar Hor.
At the recent launch of PRUlink income, he said the product presented an opportunity for Malaysians to invest just a one-time premium to be able to reap the benefits after retirement.
The minimum single premium is RM10,000, which would be invested for a fixed period ranging from five to 40 years, Tan said.
He said 95% of the single premium paid would be invested in the newly created PRUlink golden equity and bond funds (during accumulation stage) and PRUlink golden managed fund (during payout stage) for a more secured and less volatile retirement investment.
During the payout stage, the customer would receive a stream of guaranteed monthly income over a specified number of years, he added.
Tan said the product ensured higher guaranteed returns, lump sum payout, flexible withdrawals and also covered the customer for misfortunes such as death or total and permanent disability. – 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, January 16, 2008
Prudential Launches New Fund
TheStar
KUALA LUMPUR: Prudential Fund Management Bhd yesterday launched Prudential Global Emerging Market Fund (PRUgem), which has an approved fund size of 1.2 billion units.
The fund will primarily invest in equity securities of companies in emerging Asian markets as well as other emerging markets in Latin America, the Middle East and Africa.
Chief executive officer Mark Toh said investing in the other emerging markets outside Asia allowed investors to capitalise on the potential of these markets.
“We choose to launch an emerging market fund because emerging markets have been growing at 3% per annum, faster than developed markets since 1999 and representing greater world gross domestic product growth contribution,” he added after the launch of PRUgem.
At least 95% of the fund's net asset value will be invested through a collective investment scheme – the Schroder International Selection Fund Emerging Markets in euro denomination. The scheme is managed by Schroders Investment Management (S) Ltd.
With an approved fund size of 1.2 billion, PRUgem is being offered at 25 sen per unit until Jan 31.
The minimum investment is RM1,000 with subsequent minimal investment of RM100.
It is targeted at retail investors with high-risk tolerance and seeking long-term capital growth.
Toh said there had been massive improvement in the economic fundamentals of emerging markets with debt burden falling, foreign reserves improving, trade balance stronger, inflation well controlled and currencies undervalued and a healthy current account surplus.
“Emerging markets have outperformed global equities for the past six years mainly due to strong earnings growth. We see local investors taking the opportunity to invest offshore to diversify their portfolio.
“Obviously there is demand for them (such funds) as fund houses have been launching offshore programmes in the last three to four months,” he added.
Prudential Fund Management has since Jan 1 taken over management of Prudential Assurance Malaysia Bhd and Prudential BSN Takaful funds, bringing the total funds under management to 33.
With this, its total net assets have grown to over RM12bil consisting of RM3.7bil from the retail unit trust business and about RM8bil from private mandate.
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: Prudential Fund Management Bhd yesterday launched Prudential Global Emerging Market Fund (PRUgem), which has an approved fund size of 1.2 billion units.
The fund will primarily invest in equity securities of companies in emerging Asian markets as well as other emerging markets in Latin America, the Middle East and Africa.
Chief executive officer Mark Toh said investing in the other emerging markets outside Asia allowed investors to capitalise on the potential of these markets.
“We choose to launch an emerging market fund because emerging markets have been growing at 3% per annum, faster than developed markets since 1999 and representing greater world gross domestic product growth contribution,” he added after the launch of PRUgem.
At least 95% of the fund's net asset value will be invested through a collective investment scheme – the Schroder International Selection Fund Emerging Markets in euro denomination. The scheme is managed by Schroders Investment Management (S) Ltd.
With an approved fund size of 1.2 billion, PRUgem is being offered at 25 sen per unit until Jan 31.
The minimum investment is RM1,000 with subsequent minimal investment of RM100.
It is targeted at retail investors with high-risk tolerance and seeking long-term capital growth.
Toh said there had been massive improvement in the economic fundamentals of emerging markets with debt burden falling, foreign reserves improving, trade balance stronger, inflation well controlled and currencies undervalued and a healthy current account surplus.
“Emerging markets have outperformed global equities for the past six years mainly due to strong earnings growth. We see local investors taking the opportunity to invest offshore to diversify their portfolio.
“Obviously there is demand for them (such funds) as fund houses have been launching offshore programmes in the last three to four months,” he added.
Prudential Fund Management has since Jan 1 taken over management of Prudential Assurance Malaysia Bhd and Prudential BSN Takaful funds, bringing the total funds under management to 33.
With this, its total net assets have grown to over RM12bil consisting of RM3.7bil from the retail unit trust business and about RM8bil from private mandate.
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, October 24, 2007
Good response to Prudential’s new fund
TheStar
KUALA LUMPUR: Prudential Fund Management Bhd, a unit of Britain-based Prudential plc, has sold nearly half of the 800 million units of its PRU 08 Capital Protected Asian Infrastructure Fund.
The fund has been offered for sale at 25 sen per unit since Oct 16. It is a two-year closed-end capital protected fund that offers investors eight opportunities (based on four quarters to a year) to cash out early.
A tenth of the capital raised would be used in an over-the-counter swap contract with investment bank Merrill Lynch International Bank Ltd offering exposure linked to the performance of three Asian infrastructure-based companies.
The remainder would be invested in ringgit-denominated money market instruments or fixed income securities.
The offer period ends on Nov 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: Prudential Fund Management Bhd, a unit of Britain-based Prudential plc, has sold nearly half of the 800 million units of its PRU 08 Capital Protected Asian Infrastructure Fund.
The fund has been offered for sale at 25 sen per unit since Oct 16. It is a two-year closed-end capital protected fund that offers investors eight opportunities (based on four quarters to a year) to cash out early.
A tenth of the capital raised would be used in an over-the-counter swap contract with investment bank Merrill Lynch International Bank Ltd offering exposure linked to the performance of three Asian infrastructure-based companies.
The remainder would be invested in ringgit-denominated money market instruments or fixed income securities.
The offer period ends on Nov 14.
Prudential's launch of PRU 08 capital protected Asian Infrastruture Fund. From Left to Right: PFMB Chief Officer Retail Marketing & Distribution Paul Khoo, PFMB CEO Mark Toh
Retail marketing and distribution chief officer Paul Khoo said the fund would allow investors to cash out every quarter based on a potential payout of 2% per quarter, depending on the equity markets' performance, or reap a potential 16% payout should the fund run its entire lifespan.
“This is the first time we're offering this type of structured fund in the country. Other countries where it is popular are Singapore and South Korea,” he told reporters at the fund launch yesterday.
The fund would be invested in stocks of South Korea's Hyundai Heavy Industries Co Ltd, Japan's Komatsu Ltd and Singapore Airlines Ltd.
Hyundai Heavy Industries is involved in shipbuilding, Komatsu manufactures mining and construction equipment while Singapore's flagship carrier provides passenger and cargo transportation as well as airport management.
Khoo said Prudential Fund Management picked the three companies given Asia's strong economic growth.
The three stocks, he added, were the top picks based on the 300 stocks the company had researched on, and also selected on their consensus-wide ratings.
“The need for the flow of raw material due to the economic growth in China and India necessitates the use of transportation and heavy machinery to extract or move the raw material,” he said.
He added that the Asia-Pacific region needed another RM3.5 trillion in infrastructure development.
Meanwhile, Khoo said two more funds would be rolled out this year, of which one had been approved by the Securities Commission.
He said the company had raised RM600mil from the six funds launched this year.
“We'll be launching at least six funds next year, with a mixture of offshore and structured funds plus Islamic funds,” Khoo said, adding that there were many growth opportunities for Islamic funds.
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, September 25, 2007
Prudential Fund appoints new syariah investments director
TheEdge
KUALA LUMPUR: Prudential Fund Management Bhd (PFMB) has appointed Zulkifli Ishak as its new drector of syariah investments, with effect from Aug 10, 2007.
PFMB’s chief executive officer Mark Toh said that Zulkifli would be responsible for building its syariah investment business and driving its vision to be the regional hub of Islamic fund management for the Prudential group.
“His 16 years of investment experience, strong fund management expertise and excellent understanding of Islamic unit trusts will be a great asset to PFMB,” he said in a statement.
Zulkifli joins Prudential from Amanah Raya-JMF Asset Management where he managed RM5 billion of portfolios mainly in fixed income and structured product investments.
Prior to that, he was a fund manager at Amanah Saham Mara, managing equity and fixed income investments. He was also head of treasury in Danamodal Nasional Bhd, a special-purpose vehicle set up by Bank Negara Malaysia from 2000 to 2002, where he was responsible for establishing strategic investments in conjunction with the recapitalisation exercise of banking Institutions.
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: Prudential Fund Management Bhd (PFMB) has appointed Zulkifli Ishak as its new drector of syariah investments, with effect from Aug 10, 2007.
PFMB’s chief executive officer Mark Toh said that Zulkifli would be responsible for building its syariah investment business and driving its vision to be the regional hub of Islamic fund management for the Prudential group.
“His 16 years of investment experience, strong fund management expertise and excellent understanding of Islamic unit trusts will be a great asset to PFMB,” he said in a statement.
Zulkifli joins Prudential from Amanah Raya-JMF Asset Management where he managed RM5 billion of portfolios mainly in fixed income and structured product investments.
Prior to that, he was a fund manager at Amanah Saham Mara, managing equity and fixed income investments. He was also head of treasury in Danamodal Nasional Bhd, a special-purpose vehicle set up by Bank Negara Malaysia from 2000 to 2002, where he was responsible for establishing strategic investments in conjunction with the recapitalisation exercise of banking Institutions.
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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