Public Bank’s wholly-owned subsidiary, Public Mutual is launching a new Islamic fund, Public Islamic Savings Fund (PISVF) tomorrow.
PISVF is an Islamic equity income fund that seeks to provide income over the medium- to long-term period by investing in a diversified portfolio of primarily syariah-compliant Malaysian stocks which offer or have the potential to offer attractive dividend yields. The fund will focus on investing in companies that have demonstrated consistency in rewarding their shareholders via dividend payouts.
PISVF may also invest in syariah-compliant growth or recovery stocks that have the potential to eventually adopt a dividend payout policy.
Public Mutual’s chief executive officer Yeoh Kim Hong said, “As PISVF focuses its investments mainly in the domestic market, the fund offers investors an opportunity to capitalise on Malaysia’s resilient economic growth prospects in the medium to long-term. The performance of selected syariah-compliant sectors of the Malaysian economy is expected to remain supported by sustained consumer and investment spending over the longer term.”
PISVF allows investors the opportunity to participate in a diversified portfolio of syariah-compliant blue-chip stocks, growth stocks and fundamentally undervalued stocks which distribute or have the potential to distribute reasonably attractive dividends. Due to the sharp retracement in equity markets at the end of third quarter 2011 on concerns over the slowing pace of global economic growth and the European sovereign debt crisis, selected stocks listed on the domestic equity market are currently trading at below trend valuations and offer attractive investment opportunities for medium- to long-term investors.
To achieve increased diversification, the fund may also invest up to 30 per cent of its net asset value (NAV) in selected foreign markets which include Singapore, Taiwan, South Korea, Japan, Hong Kong, Thailand, Indonesia, Philippines, Luxembourg and other permitted markets.
The equity exposure of PISVF will generally range from 75 per cent to 98 per cent of its NAV. PISVF is suitable for investors with moderate risk-reward temperament and have preference for receiving income while capital growth is secondary.
The initial issue price of PISVF is RM0.2500 per unit during the 16-day initial offer period from 15 to 30 December 2011. The minimum initial investment is RM1,000 and the minimum additional investment is RM100. During the offer period, special promotional service charge of 5 per cent of initial issue price per unit are extended to the purchase of units of PISVF.
Investors who opt for Direct Debit Instruction with PISVF during the offer period will enjoy a special promotional service charge of 5.25 per cent of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply.
PISVF is distributed by Public Mutual’s unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its customer service hotline at 03-6207 5000 for more details of the funds.
Public Mutual is Malaysia’s largest private unit trust company with 91 funds under management. It has 2.6 million accountholders and as at 31 October 2011, the total net asset value of the funds managed by the company was RM43.7 billion. -- Bernama
PISVF is an Islamic equity income fund that seeks to provide income over the medium- to long-term period by investing in a diversified portfolio of primarily syariah-compliant Malaysian stocks which offer or have the potential to offer attractive dividend yields. The fund will focus on investing in companies that have demonstrated consistency in rewarding their shareholders via dividend payouts.
PISVF may also invest in syariah-compliant growth or recovery stocks that have the potential to eventually adopt a dividend payout policy.
Public Mutual’s chief executive officer Yeoh Kim Hong said, “As PISVF focuses its investments mainly in the domestic market, the fund offers investors an opportunity to capitalise on Malaysia’s resilient economic growth prospects in the medium to long-term. The performance of selected syariah-compliant sectors of the Malaysian economy is expected to remain supported by sustained consumer and investment spending over the longer term.”
PISVF allows investors the opportunity to participate in a diversified portfolio of syariah-compliant blue-chip stocks, growth stocks and fundamentally undervalued stocks which distribute or have the potential to distribute reasonably attractive dividends. Due to the sharp retracement in equity markets at the end of third quarter 2011 on concerns over the slowing pace of global economic growth and the European sovereign debt crisis, selected stocks listed on the domestic equity market are currently trading at below trend valuations and offer attractive investment opportunities for medium- to long-term investors.
To achieve increased diversification, the fund may also invest up to 30 per cent of its net asset value (NAV) in selected foreign markets which include Singapore, Taiwan, South Korea, Japan, Hong Kong, Thailand, Indonesia, Philippines, Luxembourg and other permitted markets.
The equity exposure of PISVF will generally range from 75 per cent to 98 per cent of its NAV. PISVF is suitable for investors with moderate risk-reward temperament and have preference for receiving income while capital growth is secondary.
The initial issue price of PISVF is RM0.2500 per unit during the 16-day initial offer period from 15 to 30 December 2011. The minimum initial investment is RM1,000 and the minimum additional investment is RM100. During the offer period, special promotional service charge of 5 per cent of initial issue price per unit are extended to the purchase of units of PISVF.
Investors who opt for Direct Debit Instruction with PISVF during the offer period will enjoy a special promotional service charge of 5.25 per cent of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply.
PISVF is distributed by Public Mutual’s unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its customer service hotline at 03-6207 5000 for more details of the funds.
Public Mutual is Malaysia’s largest private unit trust company with 91 funds under management. It has 2.6 million accountholders and as at 31 October 2011, the total net asset value of the funds managed by the company was RM43.7 billion. -- Bernama
