PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual launches its first Far-East consumer themes fund, Public Far-East Consumer Themes Fund (PFECTF) on 8 January 2008 (Tuesday). PFECTF allows investors to tap into the growth potential of rising consumer spending in the Far-East markets.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said consumer spending generally accounts for a significant share of Gross Domestic Product (GDP) in most economies. This is no different in Asia where consumer spending accounts for about half of GDP. In the 2001-2006 period, consumer spending in Indonesia and China grew at healthy annual rates of 13.6% and 10.4% respectively on the back of rising income and urbanisation. Meanwhile, South Korea, Malaysia and Thailand’s consumer spending growth were also impressive at around 9.0%-9.5% per annum, backed by strong consumer confidence amidst generally buoyant economic activities.
He added that in the Far-East region, consumer spending has been fuelled by robust growth in disposable incomes, the wealth effect from rising equity and property markets, increased urbanisation, healthy tourism activities and attractive lending rates.
Tan Sri Teh said that PFECTF is positioned to benefit from the robust growth of consumer spending in the Far-East region.
PFECTF is an equity fund that seeks to achieve long-term capital appreciation by investing in securities, mainly equities, in the consumer sector in the domestic and foreign markets. The fund may also invest in multinational corporations in the consumer sector which sell their products in Far-East markets or have distribution outlets/establishments in the Far-East region and are listed in United States, Europe and Australian markets.
Tan Sri Teh added that PFECTF is suitable for aggressive investors who can withstand extended periods of market highs and lows to achieve medium- to long-term capital growth for their investments.
The issue price / net asset value (NAV) of PFECTF is at RM0.2500 per unit during the 21-day initial offer period of 8 January 2008 to 28 January 2008.
During the offer period, a special promotional service charge of 5% of NAV per unit is extended to the purchase of units of PFECTF by investors. Investors who opt for Direct Debit Instruction with PFECTF during the offer period will enjoy a special promotional service charge of 5.25% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PFECTF is distributed by Public Mutual’s unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 55 funds for more than 1,350,000 accountholders. As at 30 November 2007, the total net asset value of the funds managed by the company was RM27.4 billion.
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