Public Mutual recently launched two local funds. One is an equity growth fund, while another one is a bond fund.
Public Islamic Treasures Growth Fund (PITGF) seeks to achieve capital growth over the medium to long-term period by investing primarily in small and medium sized companies, which comply with Shariah principles.
The fund will invest in Shariah-compliant securities with market capitalization of up to RM6 billion at the point of purchase or companies which form the bottom 30% of the cumulative market capitalization of the market which the stock is listed on at the point of purchase. The fund will focus its investments in the domestic market with equity exposure ranging 75% - 98% of its NAV. To achieve increased diversification, the fund may invest in selected foreign markets if the returns are assessed to be promising.
Another SUKUK fund in the selves?
Meanwhile, Public Sukuk Fund (PSKF) seeks to provide annual income through investments in sukuk and Islamic money market instruments, by investing at least 75% of its NAV in a portfolio of sukuk such as sovereign sukuk and corporate sukuk with the balance invested in Islamic money market instruments. To achieve increased diversification, the fund may invest up to 30% of its NAV in foreign sukuk if the returns are assessed to be promising.
Source: Public Mutual