Invest in The Best

Invest in The Best

Invest in The Best

Invest in The Best

Monday, August 11, 2008

Public Mutual to launch two Islamic funds

KUALA LUMPUR: Public Mutual will launch two new Islamic funds, Public Islamic Select Enterprises Fund (PISEF) and Public Islamic Income Fund (PI Income), on Thursday.

The mutual fund said on Monday PISEF was targeting investors seeking long-term growth potential of Syariah-compliant bellweather companies in the domestic market.

It said PI Income was for investors seeking a steady stream of annual income. Both funds are open for EPF members investment scheme.

Public Mutual chairman Tan Sri Dr Teh Hong Piow said PISEF was an aggressive Islamic equity fund that seeks to achieve capital growth through investment in the largest 50 companies.

These 50 companies would be measured in terms of market capitalisation - at the point of purchase - which complied with Syariah requirements.

“These bellweather companies are usually considered relatively resilient as they have established track records, resilient growth prospects due to their size and entrenched market shares, and financial resources to withstand challenging economic conditions,” he added.

As for PI Income, the Islamic fixed income fund seeks to provide annual income over the medium to long term by investing in sukuk and Islamic money market instruments.

“PI Income allows access to the growing sukuk market which is generally only accessible to insititutional investors. Sukuk and Islamic money market instruments offer a steady stream of income to investors with profit distributed annually,” Teh said.

Public Mutual said the initial offer price of PISEF and PI Income would be 25 sen per unit and RM1 respectively during the 21-day initial offer period from this Thursday to Sept 3.

The minimum initial investment for both funds is RM1,000 and the minimum additional investment is RM100.

Contact your Islamic unit trust consultant>>Mr Sanusi: +6019 2348786 @

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