KUALA LUMPUR, April 8 (Bernama) -- Eastspring Investments Berhad today announced the launch of the Eastspring Investments Islamic Equity Income Fund (“the Fund”). This is a Shariah-compliant equity fund that seeks to provide a stable income stream with medium to long-term capital growth.
 
The initial offer period for the Fund runs for a period of twenty-one (21) days commencing from 8 April 2019 and closing on 28 April 2019.
 
Units of the Fund are priced at RM0.50 per unit during its initial offer period, thereafter pricing is based on the Fund’s Net Asset Value (“NAV”) which will fluctuate based on market movements. The minimum initial investment is RM1,000 and it  is available through Eastspring Investments Berhad (“Eastspring”) and its authorised distributors.
 
The Fund was launched to meet the demands of investors with the appetite for medium to long-term equity income funds.
 
Award-winning investment team: The Fund will be managed by Eastspring’s award-winning equity investment team who are experienced in managing Islamic and equity income funds.
 
Eastspring Investment Berhad won 13 awards at the Lipper Fund Awards from Refinitiv 2019[1]. The funds recognised included our Shariah-compliant and equity income offerings.
 
“We have experienced fund managers and analysts who are very passionate about equity investing. Eastspring is a valuation and research-driven house with good fundamental stock-picking skills and a disciplined portfolio construction process,” says Raymond Tang, Chief Executive Officer, Eastspring Investments Berhad.
“We believe our investment philosophy can potentially generate consistent and attractive returns for our clients over the long run.  The team’s vast experience and strong drive enables us to add value during periods of market volatility,”
 
Potential for dividend income and growth: Although the Fund will be a Shariah-compliant version of the company’s equity income fund, the fund managers will adopt the same investment philosophy of stock picking.
 
“We will generally pick companies with good quality management, which are able to deliver stable earnings growth and have sustainable dividend yields backed by strong cash flow generation,” says Doreen Choo, Chief Investment Officer, Eastspring Investments Berhad.  “This strategy is intended to provide steady recurring income, as well as capital appreciation over the medium to longer-term.”
 
Opportunities for growth in Malaysia:
“We are optimistic about Malaysia’s long-term market outlook, but remain cautious over the near-term given the many challenges.  Volatility is the new norm, be it from domestic politics or policies, made more challenging by external noises from the ongoing US-China trade war, US monetary policies and volatilities in commodities. As such, we will focus on companies with strong fundamentals and good track record of adapting well even in challenging environments,” concludes Doreen.
 

[1]Announced 25 March 2019.  Past performance of the funds/Eastspring is not indicative of future performance.
 
ABOUT EASTSPRING INVESTMENTS
Eastspring Investments is a leading asset manager in Asia that manages over US$193 billion assets (as at 31 December 2018) on behalf of institutional and retail clients. Operating in Asia since 1994 in 10 major markets plus offices in North America and Europe. Eastspring Investments is the Asian asset management business of Prudential plc, one of the world’s largest financial services companies.
 
ABOUT EASTSPRING INVESTMENTS BERHAD
Established in 2000 and based in Kuala Lumpur, Eastspring Investments Berhad is one of the leading asset management companies in Malaysia in both institutional and retail, with about RM39.3 billion in assets under management in the country as at 31 December 2018. It manages unit trust funds, wholesale funds as well as private mandates.
 
Source: EASTSPRING INVESTMENTS BERHAD

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Judy Yap
Director, Brand and Communications
Tel: 03 – 21700290
Fax: 03-2170 0399
Email: judy.yap@eastspring.com