AmInvestment Bank Group hopes to close its financial year ending March 31, 2012 with RM30 billion in total assets under management, both for AmMutual and AmIslamic funds.
"As of Dec 31 last year, assets under management totalled RM27 billion," Funds Management Division chief executive officer Datin Maznah Mahbob said.
The three-year close-ended bond fund offers a regular income for investors looking for income stability in a volatile investment market climate, she told reporters after launching AmConstant Flexi, the 13th fund under the AmConstant series.
Maznah said AmConstant Flexi has the same features with AmConstant funds, but the flexibility of AmConstant Flexi allows early repayment of partial capital to investors before the maturity date.
"Investors may receive the bond's proceeds, which include the principal amount and realised gains at any time when a bond in the fund's holdings has achieved 15 per cent cumulative returns before its maturity, subject to the investment manager's discretion," she said.
Maznah said the fund would invest a minimum of 95 per cent of its net asset value in a domestic and/or foreign bond sector, with a strategy to buy bond funds that generally have a shorter or similar maturity tenure to the fund's maturity.
"For the purpose of maximising returns, the fund manager will not actively adopt a trading strategy unless there are changes in interest rates that will result in bond price changes," she said, adding that they are looking at Australia and Indonesia bond markets to invest.
For every bond fund launched, they aimed for at least five to six per cent returns per annum, she said.
AmConstant Flexi has an approved fund size of 100 million units offered at RM1 a unit, with a 45-year offer period, beginning Monday until Feb 29.
Its initial and additional investments are RM5,000. The fund is distributed and made available at all AmBank, Alliance Bank, CIMB Bank, OCBC Bank and UOB Bank branches. -- Bernama
"As of Dec 31 last year, assets under management totalled RM27 billion," Funds Management Division chief executive officer Datin Maznah Mahbob said.
The three-year close-ended bond fund offers a regular income for investors looking for income stability in a volatile investment market climate, she told reporters after launching AmConstant Flexi, the 13th fund under the AmConstant series.
Maznah said AmConstant Flexi has the same features with AmConstant funds, but the flexibility of AmConstant Flexi allows early repayment of partial capital to investors before the maturity date.
"Investors may receive the bond's proceeds, which include the principal amount and realised gains at any time when a bond in the fund's holdings has achieved 15 per cent cumulative returns before its maturity, subject to the investment manager's discretion," she said.
Maznah said the fund would invest a minimum of 95 per cent of its net asset value in a domestic and/or foreign bond sector, with a strategy to buy bond funds that generally have a shorter or similar maturity tenure to the fund's maturity.
"For the purpose of maximising returns, the fund manager will not actively adopt a trading strategy unless there are changes in interest rates that will result in bond price changes," she said, adding that they are looking at Australia and Indonesia bond markets to invest.
For every bond fund launched, they aimed for at least five to six per cent returns per annum, she said.
AmConstant Flexi has an approved fund size of 100 million units offered at RM1 a unit, with a 45-year offer period, beginning Monday until Feb 29.
Its initial and additional investments are RM5,000. The fund is distributed and made available at all AmBank, Alliance Bank, CIMB Bank, OCBC Bank and UOB Bank branches. -- Bernama
