RHBAM launches new shariah compliant fund

PETALING JAYA: RHB Asset Management Sdn. Bhd. (RHBAM) has launched the Islamic Asia Pacific income and growth fund – the RHB-OSK Islamic Regional Balanced Fund – a shariah-compliant fund that rides on the economic growth of Asia Pacific.
The fund, which is the latest addition to RHBAM's suite of 10 Islamic funds, aims to provide regular income in the form of units earned and capital growth from a diversified portfolio of both local and foreign Shariah-compliant investments.
RHBAM CEO Ho Seng Yee said: "We are confident that the fund will be able to emulate the strong performance and success of our existing funds."
He added: "The launch of RHB-OSK Islamic Regional Balanced fund further reinforces our strategy to position RHBAM as an outstanding Asean fund house offering a full spectrum of asset management products and services."
The fund is designed for medium to long term investors with a balanced portfolio.
Investors of the fund will have the opportunity to invest in Shariah-compliant equities and non-equity investments including the fast growing sukuk, Islamic money market instruments and Islamic deposits with financial institutions.
It will invest between 40% and up to 60% of its Net Asset Value (NAV) in Shariah-compliant equities and non-equity shariah compliant investments. To achieve optimum diversification, the fund may invest 100% of its NAV in selected foreign markets within Asia Pacific region including China, Hong Kong, India, Indonesia, Korea, Philippines, Singapore, Taiwan, Thailand, Australia, New Zealand, and Japan.
The initial issue price of the Fund is RM1.00 per unit, with an initial minimum investment of RM1,000, during the 21-day initial offer period from today.