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:: PMB Investment Launch ASEAN Market Investment Fund
PMB Investment Berhad (256439-D)
Level 20, 1 Sentral, Jalan Rakyat, KL Sentral, 50470 Kuala Lumpur.
Tel: 03 2785 9800 / 03 2785 9900
Fax: 03 2985 9901
M E D I A S T A T E M E N T
PMB INVESTMENT LAUNCH ASEAN MARKET INVESTMENT FUND
PMB Investment Berhad (PMB Investment), a wholly owned subsidiary of Pelaburan MARA Berhad (Pelaburan MARA), launched its first multi-currency fund, PMB Shariah ASEAN Stars Equity Fund (PMB SASEF) at an initial offer price of RM0.5000 or USD0.5000 per unit.
According to the Group Chief Executive Officer of Pelaburan MARA, Dato’ Nazim Rahman, the launching of this new fund will provide an additional platform for PMB Investment to achieve the target Asset Under Management (AUM) of RM1.90 billion by end of 2018.
“We are targeting an initial investment of USD30 million to USD40 million this year for the new fund," he said.
Najmi Mohamed, Chief Executive Officer, PMB Investment said the PMB SASEF invests in five (5) major ASEAN markets including Malaysia, Indonesia, Thailand, Singapore and the Philippines.
"The Net Asset Value (NAV) of five (5) ASEAN countries is USD2.6 trillion including shariah and conventional stocks. From this value, only USD860 billion of stocks are selected for PMB SASEF investment," he added.
As of 28 February, 2018, there are 3,286 companies listed on the ASEAN stock exchange. Out of that, 1,720 companies or 47.7 percent are Shariah compliant equities stocks and from that percentile, 300 largest Shariah compliant companies by market capitalization will be selected for PMB SASEF.
"The breakdown of stocks are 32.67 per cent or 98 shariah stocks are from Malaysia, 24.33 per cent or 73 shariah stocks in Indonesia, 24 per cent or 72 shariah stocks in Thailand, 11.33 per cent or 34 shariah stocks in Singapore and 7.67 per cent or 23 Shariah stocks in the Philippine exchange," he said.
The fund managers will perform a relative performance analysis on the 300 largest Shariah-based companies in ASEAN based on stock movement price, growth potential, profit and dividend yield before selecting any high potential stocks. Relative performance analysis is to measure the strength of performance between stocks and it is aiming to select any stocks to be included in the investment portfolio.
Najmi added, “the investment portfolio monitoring will be done actively and this performance analysis is a proven method whereby several of our funds provide good returns and won The Edge | Thomson Reuters Lipper Fund Awards 2018 and 2018 Morningstar Awards recently."
PMB SASEF will invest between 70 per cent and 99.5 per cent of its Net Asset Value (NAV) in equities of the stock exchanges in any of the ASEAN member countries while the remaining balance will be invested in Islamic money market instruments, Islamic Deposit Placement, Sukuk, Shariah Collective Investment Scheme and other Shariah Investment Instruments.
The objective of PMB SASEF is to achieve capital growth over the medium and long term through investments in various Shariah portfolios with incidental income distribution.
PMB SASEF’s initial offer period is 21 days from the date of the Prospectus (28 March 2018). The initial investment for the fund is RM1,000 or USD1,000 for individuals and RM10,000 or USD10,000 for corporate investors. The minimum additional investment is RM100 or USD100 for individuals and RM1,000 or USD1,000 for corporate investors. The fund is suitable for medium to high risk tolerant investors who are seeking for Shariah compliant investment.
At the media conference, Najmi presented fund details of PMB SASEF to the media.
The media conference was also attended by Tengku Ahmad Badli Shah Raja Hussin, the Chief Operating Officer of Pelaburan MARA, Dato' Mohammad Safie Asnawi, Board Member of PMB Investment and Acting Chief Investment Officer of PMB Investment, Isnami Ahmad Mohtar.
PMB Investment is an Islamic Fund Management Company (IFMC) and a wholly owned subsidiary of Pelaburan MARA Berhad Group. It manages 14 unit trust funds, two wholesale funds and several portfolio mandates with investments in equity, money market and sukuk assets classes.
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