Aminvestment Bank to launch Australia offshore fund

Aminvestment Bank Group plans to launch five offshore funds in emerging equity markets this year, including one in Australia.

Ng Chze How, Aminvestment Bank Director of Retail Funds, said that the offshore funds would be based on potential demand for Malaysian investors besides performance-based products, according to a report by Bernama.

Among the five offshore funds, he said the first offshore fund would be for Australia as the stock market was expected to perform significant growth this year following a strong equity market and currency, improved earnings, liquidities and overall economic recovery.

"We will tie-up with an asset manager in Australia. For most of our offshore funds, we normally tie-up," he said.


Based on the performance of the previous offshore funds, he said, it clearly showed Malaysian investors' interest in emerging equity markets and that there was increasing substantial interest among Malaysians in the Australia, especially in its n mining and agriculture industry.

Australia has 18 consecutive years of positive growth and had outperformed all other advanced economies through the global financial crisis.

The project is expected to commence in financial year end-2012 and span a six-year development period.