Public Mutual launches a domestic Islamic fund
Public Bank’s wholly-owned subsidiary, Public Mutual launches a domestic Islamic fund, Public Islamic Select Treasures Fund (PISTF) on 26 February 2008 (Tuesday). Investors who wish to discover hidden treasures and opportunities among small-to-mid cap stocks can invest in the PISTF. PISTF is open for EPF Members Investment Scheme.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PISTF is an Islamic equity fund that seeks to achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah requirements in the domestic market. “The fund will invest in Shariah-compliant securities with market capitalisation of up to RM6.0 billion, which have promising growth prospects in the medium- to long-term,” he added.
Tan Sri Teh explains that PISTF is suitable for investors with aggressive risk-reward temperaments and can withstand extended periods of market highs and lows in pursuit of capital growth. The equity exposure of PISTF will generally range from 75% to 95% of its net asset value (NAV).
The issue price / NAV of PISTF is at RM0.2500 per unit during the 21-day initial offer period of 26 February 2008 to 17 March 2008. The minimum initial investment is RM1,000.
PISTF is distributed by Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6207 5000 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 57 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.
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