RHB Asset Management (RHBAM) has unveiled a new Shariah-compliant Islamic Asia Pacific income and growth fund.
The RHB-OSK Islamic Regional Balanced Fund will offer regular income in the form of units earned and capital growth from a portfolio of Shariah-compliant investments.
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The new fund will invest in Shariah-compliant equities and non- equity investments including sukuk, Islamic money market instruments and Islamic deposits with financial institutions.
The fund, with an initial issue price of RMB 1:00 per unit and an initial minimum investment of RMB 1,000 has been launched in response to the needs of Shariah- compliant investors seeking a diverse and rewarding, medium to long term investment with a balanced portfolio.
Furthermore, the fund will invest between 40% and up to 60% of its net asset value (NAV) in Shariah-compliant equities and non-equity Shariah Compliant investments.
Ho Seng Yee, CEO of RHBAM said: "Our customers will find this Fund an attractive alternative to the other traditional investment options while enhancing their returns and minimizing investment risks. We are confident that the RHB-OSK Islamic Regional Balanced Fund will be able to emulate the strong performance and success of our existing funds."
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By GlobalData
