KUALA LUMPUR: Nomura Asset Management Malaysia Sdn Bhd, a fund management unit of Japan's Nomura Holdings Inc, has launched its Global Shariah Semiconductor Equity Fund to offer investors access to the rapidly growing semiconductor sector which is driven by global digitalisation trends.
Without disclosing the target assets under management (AUM) for its newly-launched fund, managing director Leslie Yap said the unit will help its clients to identify companies with the right valuations.
"There is no specific target. At this time, we have engaged with many distributors. They do indicate that there is interest and a good strategy.
"I am positive the semiconductor sector will do well," he told reporters after the launch of the fund here today.
Yap said the unit continues to innovate and offer investors opportunities to invest in assets with strong potential for growth and long runways.
The acceleration in digitalisation including the rollout of 5G networks has intensified the need for greater connectivity, giving rise to an exponential surge in computing needs and demand for semiconductor chips, which are essential components of most electronic devices.
"The timely launch of the fund enables us to capitalise on such trends and provide investors access to high-quality global semiconductor companies while achieving portfolio diversification," he said.
The fund will focus on quality companies with high growth potential, healthy profit margins, strong intellectual property, pricing power and balance sheets.
The first of such a fund in Malaysia, the Global Shariah Semiconductor Equity Fund is available for a minimum initial investment of RM1,000 or US$1,000.
Nomura Asset Management UK Ltd has been appointed as the investment adviser to the fund and will provide investment research and stock recommendations in line with the fund's investment objectives and restrictions.– BERNAMA