KUALA LUMPUR: Asset management company Berjaya Mutual Sdn Bhd is looking to achieve RM5 billion in asset under management (AUM) by 2026 from RM1 billion currently.
Berjaya Mutual chief executive officer Eugene Chew Boon Chye said this year, the company has earmarked eight new funds to be launched.
"We have already launched three funds in May, and they are targeted to reach an AUM of RM100 million.
"We have another two funds planned for June and the remaining three funds planned for the second half of the year (2H24)," he told reporters at the launch of Berjaya Mutual.
According to Chew, these new products are expected to generate between RM200 million and RM300 million.
"We also have new products planned for the next two years in 2025 and 2026, investing into different asset classes like fixed income, equity and more innovative products like digital assets and structured products.
"This is how we are going to penetrate the market especially in terms of our unserved and underserved market segment where for example, for our private mandates, we have a lower entry level compared to other fund managers in the industry.
"Typically, if you were to engage a fund manager to manage your monies via private mandate structure, you have to put in at least RM250,000.
"However, we offer an opportunity for individuals to start with just RM50,000."
Chew added that this allows more people to have their funds managed by licenced professionals and that the product pipeline is scheduled for 2025.
Berjaya Mutual plans to have nine products in 2026.
"Work is ongoing to form partnerships and to structure these products to bring in the AUM to achieve RM5 billion in two years' time," he noted.
Chew said Berjaya Mutual's projected product pipeline will have a mixture between conventional and Shariah funds.
"As you know, Malaysia is the leading Sharia investment hub for the world and to complement that under the Securities Commission's Islamic Fund and Wealth Management Blueprint, we will also be embarking on more Sharia compliant products.
"I think one special feature that we are looking at as part of our product planning is to have Sharia products that have a Wakaf feature," he said.
This allows investors to not only invest that returns for themselves, but also allow them the chance to contribute via Wakaf.
Today, Berjaya Mutual rebranded from Inter-Pacific Asset Management Sdn Bhd, to position itself to transform Malaysia's financial and investment landscape.
The launch was attended by Berjaya Mutual's chairperson Tunku Tun Aminah Sultan Ibrahim Ismail and Berjaya Corporation Bhd founder and advisor Tan Sri Vincent Tan Chee Yioun.