KUALA LUMPUR: CIMB-Principal Asset Management Bhd’s recently-launched CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds, is aimed at tapping into the growth prospects of global equities which are Shariah-compliant.
Chief executive officer Munirah Khairuddin said the fund offers investors diversification benefits by enabling access to equities in numerous emerging and developed markets.
It has targeted a fund size of RM300 million in assets under management within a year of the fund’s inception, she added.
“We are bringing this fund to our investors at an opportune time where global economic growth is at a positive trajectory.
“Global equity markets continue to be in a sweet spot, where we see strong earnings in both emerging and developed markets, ample global liquidity to support inflows into equity markets and compelling valuations.
“The fund presents an excellent opportunity for investors who are looking to diversify globally and to benefit from an exposure to global trends. I am confident there will be good appetite for the fund," she said.
Munirah said CIMB Islamic Global Equity Fund is aligned to its strategic value proposition to provide its customers with unparalleled Shariah-compliant investment opportunities across various asset classes and across numerous markets globally.
CIMB-Principal Islamic Global Equity Fund is suitable for investors seeking a Shariah-compliant global portfolio with an investment horizon of at least five years.
The fund is currently available to investors in ringgit with a minimum initial investment of RM500.
Backed by CIMB-Principal’s global experience, and expertise, the fund will invest a minimum of 70 per cent and up to a maximum of 98 per cent of its net asset value (NAV) in Shariah-compliant global equities and equitiesrelated securities to gain long-term capital growth.
The fund may also invest up to 28 per cent of the NAV in Sukuk, Shariah-compliant money market instruments and Islamic Deposits.
The Company recently won the Best Equity Asia Pacific ex Japan over five years (Global Islamic category) and Best Bond Global over three years (Middle East and North Africa Markets category) in The Edge Thomson Reuters Malaysia Fund Awards 2017.
CWA, a wealth management and product distribution arm of CIMB-Principal, is the exclusive distributor of the fund.