KUALA LUMPUR: HwangDBS Investment Management Bhd targets an annual return of 6% to 8% for its newly launched Asia Aspire Capital Protected Fund that invests in Australian treasury bills and 10 global brands.
Chief executive officer and executive director Teng Chee Wai said that in a bullish market, the fund would invest in these global brands that would benefit from rising consumer spending and affluence among the Asian middle-class.
“We hope to capitalise on the increasing affluence of Asia’s households and rising consumption of the middle-income class,” he said at the launch of the fund yesterday.
The investments would be made in companies involved in the financial services, luxury fashion, consumer electronics, motor vehicles and telecommunications sectors such as Apple, Nokia, Ping An Insurance, Standard Chartered Bank and Toyota.
From left: HwangDBS Malaysia director Alex Hwang,Teng Chee Wai and Garry Frenklah, The Royal Bank of Scotland’s managing director of global banking and market
Teng said the fund would provide Malaysian investors with an opportunity to gain from Asia’s rising affluence and their increasing scale of discretionary spending.
In a bearish market, the fund will automatically switch to defensive assets – one-month Australian treasury bills – which have a yield of 7.6% a year.
The fund is available until May 10 at selected third-arty distributors, including ABN AMRO Bank Bhd, Affin Bank Bank Bhd, Alliance Bank Malaysia Bhd, AmPrivate Banking, CIMB Wealth Advisors Bhd, EON Bank Bhd, Hong Leong Bank Bhd, RHB Bank Bhd and Standard Chartered Bank (M) Bhd.
Teng also said HwangDBS hoped to launch five to six more funds this year.
The group currently manages 26 funds with a total value of RM6bil.
