AmInvest, Malaysia-based fund management arm of AMMB Holdings, has unveiled two new mixed asset and equity growth feeder funds called the US-Canada Income and Growth and Europe Equity Growth.
The funds have been launched following investors demand for higher risk appetite and continuous search for higher yield than fixed deposit rates.
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The US-Canada Income and Growth Fund will invest in high-yield bonds, convertible bonds and equities, including covered call writing. It seeks to provide income and to a lesser extent long term capital appreciation by investing in Allianz Income and Growth (Target Fund).
Additionally, the Europe Equity Growth will invest primarily in European equity markets and seeks to generate long term capital growth by investing in Allianz Europe Equity Growth.
Distributed by AmInvestment Bank and Citibank, both the funds primarily target qualified investors and have a minimum initial investment of MYR1, 000 and minimum additional investment is MYR500.
Both funds charge have an entry fee of 5% of the net assets and an annual management fee of up to 1.8%.
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By GlobalDataDatin Maznah Mahbob, CEO of AmInvest, said: "We are optimistic of the take-up of these two funds from our investors. The countries and regions that both of the target funds are investing- United States, Canada and Europe-have (a) promising outlook in terms of growth."
