RHB Asset Management (RHBAM), a wholly-owned subsidiary of RHB Investment Bank in Malaysia, has partnered with Convoy Asset Management to launch a fund in Hong Kong that focuses on small to mid cap equities in the ASEAN region.
Dubbed as RHB-OSK ASEAN Navigator Fund, the open-ended fund has been designed for investors with an appetite for high-growth investment.
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With a minimum initial investment of $5,000, the fund will invest primarily in equities and equity-related securities in ASEAN-based small to mid cap companies and will be sold exclusively by Convoy for a period of one year.
The fund seeks to achieve capital appreciation by investing at least 70% of its assets in equity shares of small and mid-cap companies with businesses in the ASEAN countries and up to 10% in collective investment schemes.
Additionally, the fund will invest up to 30% of its assets in equities of Asian companies apart from those in the ASEAN countries, or in fixed income securities, money market instruments and deposits with financial institutions.
Eliza Ong, managing director of RHB OSK Group Asset Management said the strategic alliance will allow RHB Group Asset Management to tap the investor base in North Asia.
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By GlobalDataEric Ng, managing director of Convoy Asset Management, said: "Combined with our strong IFA market presence, and the continuous development of personal wealth management market in Hong Kong and China, we believe this fund has a great potential to be part of the core portfolio of the majority of the investors."
