Business Times
OSK-UOB Unit Trust Management Bhd's portfolio may hit the RM4 billion mark by the end of the year as it rolls out more new products.
Its enlarged asset base could eventually comprise up to 31 unit trust funds, from the existing 28 schemes which account for around RM3 billion of investors' money.
"For this year, we intend to launch another two or three funds, and our total fund size is expected to grow to between RM3.8 billion and RM4 billion," said Ho Seng Yee, the executive director-cum-chief executive of OSK-UOB, a unit of financial services group OSK Holdings Bhd."Our new offerings include local and regional funds," he told reporters at the launch of OSK-UOB's latest offering in Kuala Lumpur yesterday.
The RM400 million OSK-UOB Asian Real Estate Fund, which could potentially yield up to 15 per cent in annual returns, invests mainly in regional property stocks like property developers or real estate investment trusts.
"The Asian property market is at a very attractive development stage as Asian economies are experiencing a period of strong economic growth, led by China," Ho said. The 800 million unit scheme, OSK-UOB's fifth new product this year, is initially priced at 50 sen apiece. It is primarily skewed towards real estate hotspots like China, Hong Kong, Singapore and Malaysia.
Malayan Banking Bhd is the sole distributor of the open-ended fund, which means its fund size can be increased in line with demand.
Singapore's UOB Asset Management Ltd, with S$25.8 billion (RM59 billion) worth of assets as at April this year, is the external investment manager for the scheme.
Unit trusts account for RM40.5 million, or 14 per cent, of OSK Holdings' RM280 million revenue in the first quarter to March 2007, its filings to Bursa Malaysia showed.
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