TheStar
KUALA LUMPUR: MAAKL Mutual Bhd has launched a regional fund called MAAKL Shariah Asia-Pacific Fund.
MAAKL said in a statement the new fund would focus on markets such as China, Hong Kong, Indonesia, South Korea, Malaysia, the Philippines, Taiwan, Thailand and Australia.
Chief executive officer and executive director Wong Boon Choy said the new fund was designed to invest up to a maximum of 98% of its net asset value in Asia-Pacific syariah-compliant equities and equity-related securities.
“Additionally, the fund will invest in a diversified portfolio of syariah-compliant equities and equity-related instruments, as well in Islamic money market instrument with emphasis on high growth potential and/or undervalued stocks relative to the assessed true value,” he said in the statement.
Wong Boon Choy showing a poster of the new fund.The fund is suitable for investors seeking to invest in a diversified portfolio of stocks listed in the Asia-Pacific region that conform with syariah principles, those seeking a medium- to long-term investment horizon between three and five years, and investors willing to accept a moderate to high level of risk.
The fund aims to provide long-term capital appreciation. Fund manager Meridian Asset Management Sdn Bhd will continuously adopt an active strategy in meeting the investment objectives.
The approved fund size is 600 million units, which will be priced at 25 sen each during the initial offer period from Jan 16 to Feb 5. The minimum initial investment is RM1,000, while the minimum additional investment is RM100.
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