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December 20, 2014 -Saturday

 
 
  AMISLAMIC FUNDS MANAGEMENT LAUNCHES ITS FIRST ASEAN EQUITY FUND FOR GROWTH OPPORTUNITIES

Tuesday 14/06/2011

KUALA LUMPUR, 14 JUNE - AmIslamic Funds Management today launched AmASEAN Equity, the first ASEAN equity fund managed by AmIslamic Funds Management to give investors capital growth over the medium to long-term by investing in shariah compliant equities. The approved fund size is 200 million units.

The Fund will focus on five strategic markets in ASEAN whereby the macroeconomic fundamentals remain attractive to equity investors, namely Indonesia, Malaysia, Singapore, Philippines and Thailand (The ASEAN-5).

AmIslamic Funds Management (AIFM), which has a successful track record of managing the Best Asia-Pacific Equity Fund1, has also garnered international accolades comprising Asia-Pacific Islamic Asset Management House of the Year2 and the Islamic Fund House of the Year3 by The Asset and Asia Asset Management respectively.

Mohd Fauzi Mohd Tahir, AIFM’s Executive Director and Head of Equities says the five selected markets in the ASEAN region holds enormous investment value. “These regions have a strong projected underlying growth compared to the developed markets and the rest of the world. According to the International Monetary Fund forecast, the ASEAN-5 countries with a projected growth of 5.1% will outperform the developed markets such as United States of 2.9% and Europe of 1.8% in 20124. Within the ASEAN-5 countries, the average GDP growth rate for these countries next year is projected to be about 5% with Indonesia leading the pack at 6.5%4. Companies in these countries have the best returns on equity in Asia supported by double-digit earnings growth5, ” Mohd Fauzi added.

He continued, “Indonesia and Thailand with sectors such as energy, oil and gas are strong beneficiaries of the current trend of rising prices in commodities such as coal, palm oil and petrochemical. Demand for commodities underpinned by China and India and ASEAN’s huge domestic market would boost its economies”.

So far in the past five years, the ASEAN index represented by MSCI South East Asia with 82%6 returns has chalked up an impressive performance compared to other regions. It has nearly doubled its returns of both MSCI Emerging Markets and MSCI Asia Pacific ex Japan at 43% over the same duration6. For the past one year, the Thailand market led the pack as it had risen 55%, followed by the Philippines’ market with 36% and Indonesia’s market has emerged third with 35% amongst the ASEAN 5-countries6.

“With this fund, AIFM is looking to build on the success of our investment philosophy and process which has won the world’s Best Asia Pacific Equity Fund (1 year) award1. This is in line with our company’s strategic initiative to be the Shariah-compliant investment solution provider for global investors, specialising in Asian equities and global sukuk,” said Datin Maznah Mahbob, Chief Executive Officer of Funds Management Division, AmInvestment Bank Group.

The Fund’s portfolio is derived from active shariah-compliant stock selections focusing on undervalued stocks relative to its earnings growth potential and its fair value. The fund manager combines a top-down asset and sector allocation process with a bottom-up stock selection process.

AmASEAN Equity has an initial offer period of 21-days until 26th June 2011 at the price of RM0.50 per unit. Its minimum investment is RM1,000 for Malaysian residents, and the minimum additional investment for Malaysian residents is RM500. The Fund is denominated in Ringgit Malaysia and can also be purchased through the other dealing currencies, Singapore Dollars and U.S. Dollars to appeal to global investors*. The Fund is distributed by all AmBank branches, AmBank Agency sales force, AmPriority Banking, AmPrivate Banking, Citibank,
iFast Capital and Philip Mutual.

Sources
1 Failaka Islamic Fund Awards, March 2011
2 The Asset Triple A Asian Awards 2010, July 2010
3 The Asset Triple A Asian Awards 2010, October 2010
4 World Economic Outlook International Monetary Fund, April 2011
5 IBES, Date extracted 28 February 2011
6 Lipper Investment Management, Apr 2006 - Apr 2011 (Thailand - Thailand SET CR, Philippines - Philippines PSE Composite CR, Indonesia - Jakarta Composite Index CR)

About Funds Management Division, AmInvestment Bank Group

Funds Management Division (FMD) of AmInvestment Bank Group is one of the leading fund management houses in terms of assets under management. As at 31st May 2011, FMD manages assets totalling RM27.5 billion, a record for the company.

AIFM is part of the Funds Management Division (FMD), one of the largest fund houses in Malaysia with three decades of track record. FMD is acknowledged and recognised by the market for its capabilities and was named Best Asset Management Company of the Year by The Asset (covering both Islamic and conventional investments). The award recognises the best asset management company in Malaysia that has built a comprehensive platform for investing in different asset classes and servicing the investing needs of institutional, corporate and retail clients. AIFM has consistently achieved above-benchmark performance and sets the tone for innovation and industry practice.

To date, we have 63 unit trust funds marketed under the brand name of AmMutual (for conventional funds) and AmIslamic (for Shariah-compliant funds), and two exchange-traded funds under AmInvestment Bank Group. We are also the proud innovator of Malaysia’s series of firsts in the unit trust industry, such as the first cash management trust, the first bond and equity exchange-traded funds, the first global Islamic equity fund, the first agribusiness fund as well as the first precious metals fund.

SOURCE: AMBANK GROUP

FOR MORE INFORMATION CONTACT:

NAME: MS NG EE FANG
DIRECTOR/HEAD, EQUITY DERIVATIVES
AMINVESTMENT BANK BERHAD
TEL : 03-2036 1384
EMAIL: ng-ee-fang@ambankgroup.com

DATE OF RELEASE: 14 JUNE 2011
RELEASED BY BERNAMA MEDIA RELATIONS & EVENT MANAGEMENT (MREM)


 
 
 

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