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CIMB-Principal Launches CIMB Islamic Global Equity Fund
Last update: 24/09/2017

KUALA LUMPUR, Sept 24 (Bernama) --†CIMB-Principal Asset Management Bhd has†launched its CIMB Islamic Global Equity Fund, the latest†addition to its suite of 20 Islamic funds.†

In a statement today, CIMB said, the fund offered Malaysian retail and corporate investors†an opportunity to tap into the growth prospects of global equities which are Shariah-compliant.

"The fund aims to achieve long-term capital appreciation and offers investors diversification benefits by enabling access to equities in numerous emerging and developed markets," it said.

Its Chief Executive Officer, Munirah Khairuddin, said the fund was timely as the†global economic growth was at a positive†trajectory.†

"The launch of CIMB Islamic Global Equity Fund is aligned to our strategic value proposition to provide our customers with unparalleled Shariah-compliant investment opportunities across†various asset classes and across numerous markets globally.†

"I am confident there will be good†appetite for the fund and we will be able to meet our target fund size of RM300 million in assets†under management within a year of the fund's inception," she said.

The fund is currently available†to investors in ringgit with a minimum initial investment of RM500. 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 equities-related securities to gain long-term capital growth.

CIMB Principal said the fund may also invest up to 28 per cent of the fund's NAV in sukuk, Shariah-compliant money market instruments and Islamic deposits.

-- BERNAMA


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