PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual will launch two new Islamic funds, Public Islamic Select Enterprises Fund (PISEF) and Public Islamic Income Fund (PI INCOME) on 14 August 2008 (Thursday). PISEF is suitable for investors who wish to participate in the long-term growth potential of Shariah-compliant bellweather companies in the domestic market while PI INCOME caters for those seeking a steady stream of annual income. Both funds are open for EPF Members Investment Scheme.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PISEF is an aggressive Islamic equity fund that seeks to achieve capital growth through investment in the largest 50 companies in term of market capitalisation (at the point of purchase) listed on Bursa Securities which comply with Shariah requirements. “These bellweather companies are usually considered relatively resilient as they have established track records, resilient growth prospects due to their size and entrenched market shares, and financial resources to withstand challenging economic conditions,” he added.
Meanwhile, PI INCOME is an Islamic fixed income fund that seeks to provide annual income over the medium- to long-term period by investing in sukuk and Islamic money market instruments. “PI INCOME allows access to the growing sukuk market which is generally only accesible to insititutional investors. Sukuk and Islamic money market instruments offer a steady stream of income to investors with profit distributed annually,” Tan Sri Teh said.
Public Mutual’s Chairman Tan Sri Teh explains that the PISEF is suitable for medium- to long-term investors with aggressive risk-reward temperament. The equity exposure of PISEF will generally range from 75% to 90% of its net asset value (NAV). On the other hand, PI INCOME is suitable for investors with conservative risk-reward temperament. The fund will invest up to a maximum of 60% of its NAV in sukuk in the domestic market. The balance of the fund’s NAV will be invested in Islamic money market instruments.
The Initial Offer Price of PISEF and PI INCOME is at RM0.25 per unit and RM1 respectively during the 21-day initial offer period of 14 August 2008 to 3 September 2008. The minimum initial investment for both funds is RM1,000 and the minimum additional investment is RM100.
PISEF and PI INCOME are distributed by Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the funds.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 64 funds for more than 1,800,000 accountholders. As at 30 June 2008, the total NAV of the funds managed by the company was RM26.6 billion.
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