RHB Islamic launches Global Developed Markets Fund

29 May 2015 / 05:37 H.
    RHB Islamic launches Global Developed Markets Fund
    From left: Nomura Asset Management Singapore chairman Hiroyuki Nishikawa, Nomura Islamic Asset Management Sdn Bhd/Nomura Asset Management Malaysia Sdn Bhd managing director and country head Nor Rejina Abdul Rahim, Nomura Asset Management Co, Ltd (Tokyo) senior corporate managing director, head of overseas client division, Fumiki Kondo, RHB Bank Berhad executive director of group retail banking U Chen Hock, Ong and RHB Islamic International Asset Management acting principal officer Sharizad Jumaat posing for the press during the launch.
    RHB Islamic launches Global Developed Markets Fund
    Eliza Ong

PETALING JAYA: RHB Islamic International Asset Management Bhd (RHBIIAM) yesterday launched the RHB Islamic Global Developed Markets Fund, which is Malaysia's first Islamic retail fund that targets global developed markets.
In a statement released yesterday, it said the fund aims to provide investors with long term capital growth by investing 70% to 98% of its net asset value in Shariah-complaint equities issued by companies listed on the stock exchanges of developed markets.
The fund is offered at a minimum investment amount of RM1,000 and exclusively distributed by RHB Bank Bhd for the first six months.
"We are bringing this fund to Malaysian investors at a time where global economic growth is at a positive trajectory. This acceleration will be led by developed markets due to its sound fiscal policy, wealth effect feeding into the real economy and the positives from low oil prices which continues to drive corporate earnings and consumption, thus allowing investors to reap positive benefits from the newly launched fund," noted RHB Asset Management managing director and regional head of group Eliza Ong.
In the investment management of the fund's portfolio, RHBIIAM has appointed Nomura Islamic Asset Management Sdn Bhd to be its external investment manager.

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