Pacific Mutual introduces new Fund
Published on: Wednesday, March 29, 2017
Kuala Lumpur: Pacific Mutual Fund Bhd, an investment management company, has launched the Pacific Dynamic Global Islamic Fund. It is the first Malaysian Shariah-compliant global fund with a dynamic and flexible asset allocation.ADVERTISEMENT In a statement Tuesday, Pacific Mutual said the fund aims to provide capital growth and income in the medium to long term by investing in a global portfolio of Shariah-compliant equities, sukuk and Islamic money market instruments."Investors can now have access to these global Shariah-compliant asset classes of equities and sukuk (fixed income)."Ranging from 0 per cent to 100 per cent in any of the asset categories, it can not only potentially profit from market volatilities, but the combination of equities and fixed income allocation should also reduce overall portfolio volatility," it said. Chief Executive Officer and Executive Director Teh Chi-cheun said there is a huge universe of Shariah-compliant investments globally, especially in sectors such as consumer staples, technology, logistics and energy. ADVERTISEMENT Stay up-to-date by following Daily Express’s Telegram channel.
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"Growing populations and increased awareness will also have a great impact on the growth of Islamic fund assets," he said.The fund's initial offer price is RM0.5 per unit during the initial offer period of March 28-April 17, 2017. – Bernama