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RETAIL FUNDS | Cesar Tordesillas, Malaysia

Permodalan BSN aims to generate consistent revenue with new fund

Permodalan BSN Bhd aims to provide consistent revenue with its new trust fund by investing in stocks, which yield regular dividends.

The group's Chairman Datuk Azizan Abd Rahman said the syariah-compliant BSN Dana Dividend Al-Ifrah would offer 800 million units at 25 sen each.

"As an equity fund, Al-Ifrah will have high equity exposure by investing a minimum of 70 per cent of the net asset value in syariah-compliant equities listed on Bursa Malaysia," he said.

The fund aims to touch RM200 million in the next three years, according to CEO Kamarul Izam Idrus, who added that the Al-Ifrah fund would try to minimise risks to unitholders in order to avoid big losses.

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