RETAIL FUNDS | Cesar Tordesillas, Malaysia

Public Mutual launches new Islamic fund

Public Mutual launched its new Islamic equity income fund, Public Islamic Savings Fund.


PISVF seeks to provide income over the medium- to long-term period by investing in a diversified portfolio of primarily Shariah-compliant Malaysian stocks which offer or have the potential to offer attractive dividend yields.

The fund will focus on investing in companies that have demonstrated consistency in rewarding their shareholders via dividend payouts.

PISVF may also invest in Shariah-compliant growth or recovery stocks that have the potential to eventually adopt a dividend payout policy.

“As PISVF focuses its investments mainly in the domestic market, the fund offers investors an opportunity to capitalise on Malaysia’s resilient economic growth prospects in the medium to long-term. The performance of selected Shariah-compliant sectors of the Malaysian economy is expected to remain supported by sustained consumer and investment spending over the longer term,” said Public Mutual’s Chief Executive Officer Ms. Yeoh Kim Hong.

PISVF allows investors the opportunity to participate in a diversified portfolio of Shariah-compliant blue chip stocks, growth stocks and fundamentally undervalued stocks which distribute or have the potential to distribute reasonably attractive dividends.

To achieve increased diversification, the fund may also invest up to 30% of its net asset value in selected foreign markets which include Singapore, Taiwan, South Korea, Japan, Hong Kong, Thailand, Indonesia, Philippines, Luxembourg and other permitted markets. The equity exposure of PISVF will generally range from 75% to 98% of its NAV. PISVF is suitable for investors with moderate risk-reward temperament and have preference for receiving income while capital growth is secondary.

The initial issue price of PISVF is RM0.2500 per unit during the 16-day initial offer period from 15 to 30 December 2011. The minimum initial investment is RM1,000 and the minimum additional investment is RM100.

During the offer period, special promotional service charge of 5% of initial issue price per unit are extended to the purchase of units of PISVF. Investors who opt for Direct Debit Instruction with PISVF 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.

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