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November 28, 2014 -Friday

 
 
  PUBLIC MUTUAL'S NEW ISLAMIC FUNDS TO FOCUS ON THE DOMESTIC MARKET

Monday 18/07/2011

KUALA LUMPUR, 18 July 2011 - Public Bank’s wholly-owned subsidiary, Public Mutual is launching two new Islamic funds, Public Islamic Treasures Growth Fund (PITGF) and Public Sukuk Fund (PSKF) on 19 July 2011. PITGF is an Islamic equity fund that seeks to achieve capital growth over the medium- to long-term period by investing primarily in small and medium sized companies, which comply with Shariah principles. Meanwhile, PSKF is an Islamic bond fund that seeks to provide annual income through investments in sukuk and Islamic money market instruments.

Public Mutual’s Chief Executive Officer Ms. Yeoh Kim Hong said “PITGF allows investors the opportunity to invest in potential growth companies by focusing its investments in small-to-mid cap Shariah-compliant stocks. Small-to-mid cap stocks generally offer higher growth opportunities compared to larger stocks due to their smaller earnings base”. She added “The growth prospects for stocks within the universe of Shariah-compliant stocks is promising as there are about 796 Shariah-compliant small-and medium-capitalisation stocks presently listed on Bursa Malaysia”.

PITGF will focus its investments mainly in the domestic market, capitalising on opportunities arising from Malaysia’s resilient economic growth prospects in the medium- to long-term. To achieve increased diversification, the fund may invest up to 30% of its net asset value (NAV) in selected foreign markets such as South Korea, China, Hong Kong, Taiwan, Singapore, Philippines, Thailand, Indonesia, Australia, Luxembourg and other permitted markets.

The equity exposure of PITGF will generally range from 75% to 98% of its NAV. PITGF is suitable for aggressive investors who wish to participate in the long-term growth potential of small- and medium-sized Shariah-compliant companies.

Meanwhile, PSKF invests in a diversified portfolio of sukuk which comprises mainly corporate sukuk, to produce returns that are generally higher than Islamic money market deposits. PSKF will invest at least 75% of its NAV in a portfolio of sukuk such as sovereign sukuk and corporate sukuk (listed and unlisted) of various tenures with the balance invested in Islamic money market instruments. To achieve increased diversification, the fund may invest up to 30% of its NAV in foreign sukuk. The foreign markets which the fund may invest in include Singapore, Japan, Hong Kong, Australia, United Kingdom and other permitted markets.

PSKF is suitable for investors with conservative risk-reward temperament, seeking annual income with some safety of principal.

The initial issue price of PITGF and PSKF is RM0.2500 per unit and RM1.00 per unit respectively during the 21-day initial offer period from 19 July to 8 August 2011. The minimum initial investment for both funds is RM1,000 and the minimum additional investment is RM100. During the offer period, special promotional service charges as low as 5% of initial issue price per unit are extended to the purchase of units of PITGF. Investors who opt for Direct Debit Instruction with PITGF during the offer period will enjoy a special promotional service charge of 5.25% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply.

PITGF and PSKF are distributed by Public Mutual’s 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 Malaysia’s largest private unit trust company with 87 funds under management. It has over 2.5 million accountholders and as at 30 June 2011, the total net asset value of the funds managed by the company was RM44.3 billion.

SOURCE: PUBLIC MUTUAL BHD

FOR MORE INFORMATION CONTACT:
NAME : (Ms) SAY SOH HIAN
MARKETING DIVISION
TEL : 03-6279 6756
EMAIL: shsay@publicmutual.com.my
WEB : www.publicmutual.com.my

DATE OF RELEASE: 18 JULY 2011
RELEASED BY BERNAMA MEDIA RELATIONS & EVENT MANAGEMENT (MREM)

 
 
 

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