‘RM30m by year-end’ target for PMB Shariah Small-Cap Fund

KUALA LUMPUR: PMB Investment Bhd expects its newly-launched PMB Shariah Small-Cap Fund (PMB SSCF) to reach a fund size of RM30 million by the end of the year, according to PMB Investment CEO Ameer Ali Mohamed.
“We hope to be able to achieve this target based on the performance of other funds under management as well as the ongoing marketing and promotional activities,” he said in a statement yesterday.
PMB SSCF, which is PMB Investment’s 14th equity unit trust fund, will invest primarily in small-sized syariah-compliant companies listed on Bursa Malaysia that have good business potential.
PMB SSCF defines small-sized companies as those with market capitalisation of between RM250 million and RM1 billion.
However, the fund can also invest up to 20% in mid-sized companies with market capitalisation of more than RM1 billion but up to RM7 billion.
PMB SSCF will complement PMB Investment’s stable of equity growth funds, which aims at attaining capital growth over the medium to long-term period. The fund allocates between 70% and 99.5% of its net assets value for investments in syariah-compliant listed companies.
The subscription for the fund is offered at 50 sen per unit with minimal initial investment of RM100 and minimum additional investment of RM50.