New fund offers opportunity to tap into global market

Munirah (centre), CIMB-Principal chief investment officer (right) Patrick Chang, and head of Agency and Business Development Grace Allison Toh at the launch of CIMB Islamic Global Equity Fund. The new fund offers Malaysian retail and corporate investors an opportunity to tap into the growth prospects of global equities which are syariah-compliant.

KUALA LUMPUR: CIMB-Principal Asset Management Bhd (CIMB-Principal) announced the launch of its CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds.

The fund offers Malaysian retail and corporate investors an opportunity to tap into the growth prospects of global equities which are syariah-compliant.

According to its press statement, 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.

CIMB-Principal chief executive officer Munirah Khairuddin commented, “We are bringing this fund to our investors at an opportune time where global economic growth is at a positive trajectory. Global equity markets continue to be in a sweet spot, where we see strong earnings in both emerging and developed markets, ample global liquidity to support inflows into equity markets and compelling valuations.

“The fund presents an excellent opportunity for investors who are looking to diversify globally and to benefit from an exposure to global trends.”

She added, “The launch of CIMB Islamic Global Equity Fund is aligned to our strategic value proposition to provide our customers with unparalleled syariah-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.”

The world economy could more than double in size by 2050, far outstripping population growth, due to technology-driven productivity and more robust global demand.

According to the International Monetary Fund (IMF)1, world growth is expected to rise to 3.5 per cent in 2017 and 3.6 per cent in 2018.

CIMB-Principal Islamic Global Equity Fund is suitable for investors seeking a syariah-compliant global portfolio with an investment horizon of at least five years. The fund is currently available to investors in MYR with a minimum initial investment of RM500.

Backed by CIMB-Principal’s global experience, and expertise, the fund will invest a minimum of 70 per cent and up to a maximum of 98 per cent of its NAV in syariah-compliant global equities and equities-related securities to gain long-term capital growth.

The fund might also invest up to 28 per cent of the Fund’s NAV in sukuk, syariah-compliant money market instruments and Islamic Deposits.

CIMB-Principal prides itself as a leader in providing regional and global solutions to meet the increasing needs of customers searching for yield enhancement and portfolio diversification.

CWA, a wealth management and product distribution arm of CIMB-Principal, is the exclusive distributor of the fund.

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