Malaysian company to launch “Public Islamic Asia Leaders Equity Fund”


Kuala Lumpur : A Malaysian company will launch Tuesday the Public Islamic Asia Leaders Equity Fund (PIALEF) which focuses on mid to large caps Shariah compliant companies, trading in both domestic and regional markets.

Public Mutual company said, Monday, that the fund allows investors to capitalize on the growth potential of mid to large caps Shariah compliant companies.

These companies are positioned to benefit from the anticipated recovery in Asian markets due to their financial strength and dominance, Public Mutual chief executive officer Yeoh Kim Hong said.

These companies tend to have leading positions and established market shares, which will enable them to perform well during robust as well as challenging market conditions, he added.

The fund may invest in infrastructure, telecommunications, manufacturing, technology, and natural resources, he noted.

PIALEF is suitable for aggressive investors who would like to be in the position to reap benefits from the recovery in Asian markets, he said.

The minimum initial investment for the fund is RYM 1,000 and the minimum additional investment is RYM100, he noted.

During the offer period, special promotional service charges as low as 5 percent of initial issue price per unit are extended to the purchase of units of PIALEF.

One Malaysian ringgit (RYM) equals KD 0.0857.