Public Mutual maintains leadership in private trust industry
Public Mutual Berhad maintained its market leadership position in the private unit trust industry with an overall market share of 43 per cent.
Its market share in equity funds and Islamic funds grew to 59 per cent and 60 per cent respectively as at the end of 2010, from 57 per cent and 56 per cent at the end of 2009. Public Mutual currently manages a total of 84 funds with 12 new unit trust funds launched during the year, with a total of nearly 100 billion units in circulation.
Net assets under management of Public Mutual rose to US$13.3 billion as at 31 December 2010, 14 per cent higher as compared to US$11.6 billion a year ago. Leveraging on the Group’s large unit trust consultants force and distribution capacity through the branches of Public Bank, the Group aims to expand its unit trust customer base further, which currently exceeds 2.39 million accounts. On the strength of these strong fundamentals, Public Mutual’s pre-tax profit for 2010 grew by 25 per cent to US$89.7 million from US$71.7 million in 2009.
