TheEdge
KUALA LUMPUR: HLG Unit Trust Bhd is looking to offer another four to five of its existing products through Maybank’s distribution channel.
HLG Asset Management Sdn Bhd’s executive director/chief executive officer Richard Lin said Maybank had been distributing the HLG Syariah Inflation Select Fund for the past month as well as the HLG Global Value Fund.
“We only select certain products to be distributed by Maybank to ensure it meets the investment criteria of Maybank’s customers,” he told reporters after a strategic agreement signing ceremony between HLG Unit Trust and Maybank here yesterday.
The agreement enables Maybank to be an Institutional Unit Trust Adviser (IUTA) of HLG Unit Trust. Maybank is the 10th IUTA to have joined HLG Unit Trust’s stable of IUTA distributors.
Apart from Maybank, HLG Unit Trust’s stable of distributors comprises Hong Leong Bank Bhd, Standard Chartered Bank Malaysia Bhd, OCBC Bank (Malaysia) Bhd, HSBC Bank Malaysia Bhd, United Overseas Bank (Malaysia) Bhd, Citibank Bhd, The Royal Bank of Scotland Bhd, Affin Bank Bhd and CIMB Private Banking.
To date, HLG Unit Trust manages 35 unit trust funds, which are distributed nationwide through multiple channels. As of Oct 31, 2008, HLG Unit Trust Bhd had a combined total fund size of RM2.5 billion. — Bernama
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