Public Bank will launch its first China fund, PB China Pacific Equity Fund on 23 October 2007 (Tuesday). PB China Pacific Equity Fund (PBCPEF) will invest mainly in China stocks and the balance in North Asian markets such as Japan, Korea and Taiwan. The fund will be managed by its wholly-owned subsidiary, Public Mutual.
Public Mutual’s Chairman Tan Sri Dato’s Sri Dr. Teh Hong Piow said PBCPEF offers investors the opportunity to tap on the solid growth prospects in China. In the past five years, equity markets in this region have enjoyed a sustained uptrend amidst the rebound in global economies and strong investor demand to participate in the growth prospects of the Greater China region. “China has emerged as a major growth engine for this region apart from the U.S with real Gross Domestic Product (GDP) sustained at a robust pace averaging 9.2% annually,” he added.
“The China Pacific region which encompasses China, Hong Kong, Taiwan, South Korea and Japan presents significant growth opportunities. The Chinese economy is projected to grow steadily at 11.2% for 2007 and 10.6% for 2008, supported by robust domestic consumption and exports. Driven by strong domestic demand and robust tourist arrivals, Hong Kong’s GDP growth is set to expand at above 5% for 2007/2008. Meanwhile, GDP growth for South Korea and Taiwan is projected at above 4% for 2007/2008 amidst resilient investment spending and global demand for electronic products. In comparison, Japan, being a developed economy, is expected to register moderate GDP growth of about 2% in 2007/2008 on sustained consumption and investment,” said Tan Sri Teh.
Tan Sri Teh believes that PBCPEF will offer investors the opportunity to take advantage of the solid investment prospects in China Pacific markets.
PBCPEF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing mainly in China stocks and the balance in North Asian markets. A minimum of 50% and up to a maximum of 98% of the fund’s net asset value (NAV) will be invested in China stocks listed on the China, Hong Kong, United States of America, Singapore and other approved markets. When valuations of China stocks are not compelling, the fund may invest in other North Asian markets which include Japan, Korea and Taiwan. The equity exposure of PBCPEF will generally range from 75% to 90% of its NAV.
Tan Sri Teh added that PBCPEF is suitable for aggressive investors who can withstand extended periods of market highs and lows to achieve medium- to long-term capital growth for their investments.
The issue price / NAV of PBCPEF is at RM0.2500 per unit during the 21-day initial offer period of 23 October 2007 to 12 November 2007. During the offer period, a special promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PBCPEF by investors. Investors who opt for Direct Debit Instruction with PBCPEF during the offer period will also enjoy the special promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
Interested investors can visit any Public Bank branch nationwide or call free-phone at 1-800-88-3323 during normal working hours to find out more about PBCPEF.
The manager of the fund, Public Mutual is the largest private unit trust company in Malaysia, and it manages 50 funds for more than 1,350,000 accountholders. As at 30 September 2007, the total NAV of the funds managed by the company was RM24.5 billion.
Monday, October 22, 2007
Wednesday, October 3, 2007
Public Mutual To Launch South-East Asia Select Fund (2 October 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual will launch a new fund on 2 October 2007 (Tuesday), i.e. the Public South-East Asia Select Fund (PSEASF).
PSEASF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in South-East Asia markets. The fund seeks to achieve its goal of capital growth by investing in a diversified portfolio of blue chips, index stocks and growth stocks listed on South-East Asia stock markets. PSEASF may also invest in fixed income securities such as sovereign bonds, corporate debt and money market instruments to help generate returns. "Up to 70% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Indonesia, Philippines, Singapore, Thailand, Vietnam and other approved markets." The equity exposure of PSEASF will generally range from 75% to 95% of its NAV.
The South-East Asian economies have vast growth prospects. The region continues to be driven by strong export performance from its efficient and flexible manufacturing base, while its relatively young population of 573 million people represents a large and rapidly growing consumer market.
"Since 2000, the South-East Asian region has forged ahead to expand its nominal gross domestic product at a robust pace of averaging 9 per cent annually," Public Mutual chairman Tan Sri Dr Teh Hong Piow said in a statement yesterday.
According to Teh, the region's real GDP growth is projected to range from 4.5 per cent to 8.4 per cent in 2007/2008, and is confident that consumer spending in the region will grow as the region's residents aspire to achieve a more comfortable lifestyle.
Launched at an issue price of RM0.25 per unit, PSEASF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period of 2 October 2007 to 22 October 2007, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PSEASF by investors. Investors who opt for Direct Debit Instruction with PSEASF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PSEASF is distributed by the 20,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the fund.
The manager of the fund, Public Mutual is the largest private unit trust company in Malaysia, and it manages 49 funds for more than 1,200,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
PSEASF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in South-East Asia markets. The fund seeks to achieve its goal of capital growth by investing in a diversified portfolio of blue chips, index stocks and growth stocks listed on South-East Asia stock markets. PSEASF may also invest in fixed income securities such as sovereign bonds, corporate debt and money market instruments to help generate returns. "Up to 70% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Indonesia, Philippines, Singapore, Thailand, Vietnam and other approved markets." The equity exposure of PSEASF will generally range from 75% to 95% of its NAV.
The South-East Asian economies have vast growth prospects. The region continues to be driven by strong export performance from its efficient and flexible manufacturing base, while its relatively young population of 573 million people represents a large and rapidly growing consumer market.
"Since 2000, the South-East Asian region has forged ahead to expand its nominal gross domestic product at a robust pace of averaging 9 per cent annually," Public Mutual chairman Tan Sri Dr Teh Hong Piow said in a statement yesterday.
According to Teh, the region's real GDP growth is projected to range from 4.5 per cent to 8.4 per cent in 2007/2008, and is confident that consumer spending in the region will grow as the region's residents aspire to achieve a more comfortable lifestyle.
Launched at an issue price of RM0.25 per unit, PSEASF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period of 2 October 2007 to 22 October 2007, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PSEASF by investors. Investors who opt for Direct Debit Instruction with PSEASF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PSEASF is distributed by the 20,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the fund.
The manager of the fund, Public Mutual is the largest private unit trust company in Malaysia, and it manages 49 funds for more than 1,200,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Tuesday, October 2, 2007
Riding On ASEAN’s Growth Potential
" South East Asian stock markets offer promising returns given the region’s excellent growth potential and attractive valuations. "
The South East Asian region has forged ahead to grow at a robust pace in recent years. With a combined population base of 573 million people, the region’s economies have vast growth prospects given their strong manufacturing base, growing savings rates, favourable demographics and large consumer market. In addition, the South East Asian region is strategically located between the emerging giants of China and India.
Grouped together under the Association of South East Asian Nations (ASEAN) comprising Singapore, Indonesia, Thailand, Philippines, Malaysia, Myanmar, Vietnam, Laos, Brunei and Cambodia, ASEAN is among the fastest growing regions in the world with nominal Gross Domestic Product (GDP) growth averaging 9% annually since 2000. In per capita GDP terms, ASEAN residents have enjoyed a nominal growth of 6.8% per annum over the past six years, exceeding the average global per capita GDP growth of 5.4% per annum over the same period.
Factors contributing to ASEAN’s economic growth
There are several factors contributing to the success of ASEAN economies.
First, these economies have benefited from significant investments from Japanese, European and American multinational corporations in the past 25 years. As a result, the ASEAN economies have developed into globally competitive manufacturers of electronics, machinery, chemical, textiles and clothing products.
Second, exports, which account for 63% of the region’s combined GDP in 2006, have been a major source of growth for the ASEAN economies. Singapore and Malaysia are among the most export-driven economies with exports contributing 206% and 125% to their GDPs respectively. ASEAN’s export prowess is attributable to the relatively low cost of labour, competitive currencies and high skills base which have enabled ASEAN exporters to move up the value-added chain in manufacturing.
Third, ASEAN nations have benefited from increased trading activities with China. Total trade between the six largest ASEAN nations and China rose sharply from 5.2% of GDP in 2000 to 14.5% of GDP in 2006. The Chinese market has also overtaken the U.S. market as the final destination for Asia’s electronics exports in recent years. Lastly, thanks to high household savings, ASEAN economies enjoy high national savings rates with the savings to GDP ratio ranging from 26.6% to 46.2%.
Growth prospects for ASEAN
The total value of ASEAN’s GDP is estimated at US$1 trillion and accounts for about 11% of the Far-East region’s aggregate nominal GDP in 2006. This is a commendable achievement given the large contributions from the region’s economic giants of China, Japan, Taiwan and Korea.
ASEAN has excellent opportunities for further economic growth given the relatively low base of the region’s per capita income, favourable demographics and large and growing population, which exceeds a quarter of the Far-East region’s combined population. In addition, the relatively low ratio of domestic demand to GDP coupled with high savings rates suggests that consumer spending in ASEAN is poised to grow rapidly in tandem with higher disposable incomes and robust economic growth in the years ahead. GDP growth for ASEAN economies is expected to range from 4.5% to 8.4% in 2007/2008.
Propelled by a booming property market and construction of two key integrated resorts, the region’s most developed economy Singapore is expected to enjoy resilient GDP growth of about 6% in 2007/2008. Across the causeway, Malaysia’s GDP growth is projected to sustain at 5.8% to 6.0% in 2007/2008 on the back of fiscal stimulus from the 9th Malaysian Plan and robust consumer spending. Indonesia’s projected growth of 5.6% to 6% in 2007/2008 is expected to be supported by increased public and private expenditures in an environment of declining interest rates. Resilient domestic demand will help the Thai economy to grow at 4.5% to 4.8% in 2007/2008. Driven by stronger industrial expansion, buoyant consumer spending and investment, Vietnam's GDP growth is set to expand at above 8% in 2007/2008.
ASEAN currencies are underpinned by strong trade surpluses, manageable inflationary pressures and sustained economic growth. The Thai baht has outperformed its South-East Asian peers with a year-to-date gain of 9.9% against the U.S. dollar. Other ASEAN currencies such as the Singapore dollar are supported by stable inflationary pressures and resilient economic growth.
Outlook for ASEAN stockmarkets
In the past four years, ASEAN equity markets have trended up following a rebound in global economic growth and the end of the SARS epidemic in 2003. From 2004 to 31 August 2007, the Vietnam, Indonesia and Philippines markets registered superb total returns of 447%, 217.2% and 133.3% respectively. The Indonesian and Vietnam stockmarkets have continued to outperform this year with returns of about 21% respectively up to 31 August 2007.
Supported by reasonable valuations, stable or declining interest rates and sustained earnings growth amidst an environment of high domestic liquidity, the ASEAN markets offer attractive returns for medium-to long-term investors.
Source: Public Mutual
The South East Asian region has forged ahead to grow at a robust pace in recent years. With a combined population base of 573 million people, the region’s economies have vast growth prospects given their strong manufacturing base, growing savings rates, favourable demographics and large consumer market. In addition, the South East Asian region is strategically located between the emerging giants of China and India.
Grouped together under the Association of South East Asian Nations (ASEAN) comprising Singapore, Indonesia, Thailand, Philippines, Malaysia, Myanmar, Vietnam, Laos, Brunei and Cambodia, ASEAN is among the fastest growing regions in the world with nominal Gross Domestic Product (GDP) growth averaging 9% annually since 2000. In per capita GDP terms, ASEAN residents have enjoyed a nominal growth of 6.8% per annum over the past six years, exceeding the average global per capita GDP growth of 5.4% per annum over the same period.
Factors contributing to ASEAN’s economic growth
There are several factors contributing to the success of ASEAN economies.
First, these economies have benefited from significant investments from Japanese, European and American multinational corporations in the past 25 years. As a result, the ASEAN economies have developed into globally competitive manufacturers of electronics, machinery, chemical, textiles and clothing products.
Second, exports, which account for 63% of the region’s combined GDP in 2006, have been a major source of growth for the ASEAN economies. Singapore and Malaysia are among the most export-driven economies with exports contributing 206% and 125% to their GDPs respectively. ASEAN’s export prowess is attributable to the relatively low cost of labour, competitive currencies and high skills base which have enabled ASEAN exporters to move up the value-added chain in manufacturing.
Third, ASEAN nations have benefited from increased trading activities with China. Total trade between the six largest ASEAN nations and China rose sharply from 5.2% of GDP in 2000 to 14.5% of GDP in 2006. The Chinese market has also overtaken the U.S. market as the final destination for Asia’s electronics exports in recent years. Lastly, thanks to high household savings, ASEAN economies enjoy high national savings rates with the savings to GDP ratio ranging from 26.6% to 46.2%.
Growth prospects for ASEAN
The total value of ASEAN’s GDP is estimated at US$1 trillion and accounts for about 11% of the Far-East region’s aggregate nominal GDP in 2006. This is a commendable achievement given the large contributions from the region’s economic giants of China, Japan, Taiwan and Korea.
ASEAN has excellent opportunities for further economic growth given the relatively low base of the region’s per capita income, favourable demographics and large and growing population, which exceeds a quarter of the Far-East region’s combined population. In addition, the relatively low ratio of domestic demand to GDP coupled with high savings rates suggests that consumer spending in ASEAN is poised to grow rapidly in tandem with higher disposable incomes and robust economic growth in the years ahead. GDP growth for ASEAN economies is expected to range from 4.5% to 8.4% in 2007/2008.
Propelled by a booming property market and construction of two key integrated resorts, the region’s most developed economy Singapore is expected to enjoy resilient GDP growth of about 6% in 2007/2008. Across the causeway, Malaysia’s GDP growth is projected to sustain at 5.8% to 6.0% in 2007/2008 on the back of fiscal stimulus from the 9th Malaysian Plan and robust consumer spending. Indonesia’s projected growth of 5.6% to 6% in 2007/2008 is expected to be supported by increased public and private expenditures in an environment of declining interest rates. Resilient domestic demand will help the Thai economy to grow at 4.5% to 4.8% in 2007/2008. Driven by stronger industrial expansion, buoyant consumer spending and investment, Vietnam's GDP growth is set to expand at above 8% in 2007/2008.
ASEAN currencies are underpinned by strong trade surpluses, manageable inflationary pressures and sustained economic growth. The Thai baht has outperformed its South-East Asian peers with a year-to-date gain of 9.9% against the U.S. dollar. Other ASEAN currencies such as the Singapore dollar are supported by stable inflationary pressures and resilient economic growth.
Outlook for ASEAN stockmarkets
In the past four years, ASEAN equity markets have trended up following a rebound in global economic growth and the end of the SARS epidemic in 2003. From 2004 to 31 August 2007, the Vietnam, Indonesia and Philippines markets registered superb total returns of 447%, 217.2% and 133.3% respectively. The Indonesian and Vietnam stockmarkets have continued to outperform this year with returns of about 21% respectively up to 31 August 2007.
Supported by reasonable valuations, stable or declining interest rates and sustained earnings growth amidst an environment of high domestic liquidity, the ASEAN markets offer attractive returns for medium-to long-term investors.
Source: Public Mutual
Monday, October 1, 2007
Public Mutual Increases Public Far-East Property & Resorts Fund Size To 3.375 Billion Units
Public Bank’s wholly-owned subsidiary, Public Mutual announced that the company has increased the fund size of its recently launched Public Far-East Property & Resorts Fund (PFEPRF) to 3.375 billion units due to the strong demand from investors.
Chief Executive Officer Yeoh Kim Hong said this is the second time the company has increased the fund size of PFEPRF. “The fund received good response from investors as it enables them to invest in a dynamic and diversified manner across the different types of properties and across multiple markets and economies in the Asia Pacific region,” she explained.
PFEPRF which was launched in July 2007, is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. “Up to 80% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, Australia, Hong Kong, China, Singapore, Taiwan, Philippines, Thailand, New Zealand, Indonesia, South Korea and other approved markets,” she said.
Yeoh added that the fund is suitable for investors with moderate risk-reward temperament who wish to participate in the long-term growth potential of real estate investments in the region. She also added that property stocks and REITs in the region are expected to offer promising returns over the medium- to long-term period due to resilient GDP growth, rising disposable income, high savings rate and stable interest rate in the region. “Easier foreign ownership rules in some countries have encouraged foreign buying of properties which have further propelled property prices. In Singapore, for example, foreign share of real estate purchase has increased from 9.9% in 1999 - 2001 to 28% in 2006. As for Malaysia, the recent relaxation of foreign real estate ownership rules is a positive driver for the local property market,” she continued.
PFEPRF is distributed by Public Mutual’s unit trust consultants.
Chief Executive Officer Yeoh Kim Hong said this is the second time the company has increased the fund size of PFEPRF. “The fund received good response from investors as it enables them to invest in a dynamic and diversified manner across the different types of properties and across multiple markets and economies in the Asia Pacific region,” she explained.
PFEPRF which was launched in July 2007, is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. “Up to 80% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, Australia, Hong Kong, China, Singapore, Taiwan, Philippines, Thailand, New Zealand, Indonesia, South Korea and other approved markets,” she said.
Yeoh added that the fund is suitable for investors with moderate risk-reward temperament who wish to participate in the long-term growth potential of real estate investments in the region. She also added that property stocks and REITs in the region are expected to offer promising returns over the medium- to long-term period due to resilient GDP growth, rising disposable income, high savings rate and stable interest rate in the region. “Easier foreign ownership rules in some countries have encouraged foreign buying of properties which have further propelled property prices. In Singapore, for example, foreign share of real estate purchase has increased from 9.9% in 1999 - 2001 to 28% in 2006. As for Malaysia, the recent relaxation of foreign real estate ownership rules is a positive driver for the local property market,” she continued.
PFEPRF is distributed by Public Mutual’s unit trust consultants.
Public Bank To Launch Its First Islamic Regional Sector Fund (6 September 2007)
Public Bank will launch its first Islamic regional sector fund, PB Islamic Asia Strategic Sector Fund (PBIASSF) on 6 September 2007. This fund will be managed by its wholly-owned subsidiary, Public Mutual.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PBIASSF is an Islamic equity fund that seeks long-term capital appreciation by investing in a portfolio of securities, mainly equities, that complies with Shariah requirements from selected market sectors in domestic and regional markets. “A minimum of 50% of the fund’s net asset value (NAV) and up to a maximum of 90% of the fund’s NAV can be invested in selected regional markets which include Japan, South Korea, China, Taiwan, Hong Kong, India, Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets. The equity exposure of PBIASSF will generally range from 75% to 90% of its NAV,” he continued.
According to Tan Sri Teh, the fund will, at any one time invest in 3 to 6 most promising market sectors which include basic materials, communications, consumer (cyclical and non-cyclical), diversified, industrial and technology. The fund manager adopts a fundamental based investment philosophy in analysing the outlook for the various sectors of the regional markets. First of all, a Top Down approach is used to analyse factors such as macro economic outlook, business cycles, income levels and demographic trends of the various regional markets. A Bottom Up Approach is then used to determine which industries and sectors are expected to perform well based on the analysis of the key macro factors. Those sectors which offer good growth prospects and are expected to perform well based on the Top Down and Bottom Up analysis will be selected for investment by the fund. “PBIASSF is suitable for investors with aggressive risk-reward temperament,” he added.
The issue price / NAV of PBIASSF is at RM0.2500 per unit during the 21-day initial offer period of 6 September 2007 to 26 September 2007. During the offer period, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PBIASSF by investors. Investors who opt for Direct Debit Instruction with PBIASSF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
Interested investors can visit any Public Bank branch nationwide or call free-phone at 1-800-88-3323 during normal working hours to find out more about PBIASSF.
The manager of the fund, Public Mutual is the largest private unit trust company in Malaysia, and it manages 48 funds for more than 1,200,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Public Mutual Declares Distributions for 2 Funds (31 August 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for two of its funds. The distributions declared are for financial year ended 31 August 2007:
- Public SmallCap Fund - Gross distribution of 9.00 sen per unit
- PB Islamic Equity Fund - Gross distribution of 6.00 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public SmallCap Fund, which is a small cap fund, has delivered an impressive one-year return of 47.73% for the period ended 17 August 2007 according to The Edge-Lipper Fund Table dated 27 August 2007. “It outperformed its benchmark Kuala Lumpur Composite Index of 26.48% for the same period,” he continued. Launched in June 2000, Public SmallCap Fund is suitable for investors with aggressive risk-reward temperament who can withstand wide fluctuations in unit prices and extended periods of volatility.
As for PB Islamic Equity Fund, it is an Islamic equity fund which has generated a one-year return of 31.69% for the period ended 17 August 2007. This fund has also outperformed its benchmark of 31.20%. It is suitable for investors with aggressive risk-reward temperament who can withstand extended periods of market highs and lows in pursuit of capital growth. PB Islamic Equity Fund is open for EPF Members Investment Scheme.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 48 funds for more than 1,200,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Balanced Funds: A Safer Approach To Investing In Volatile Markets
In times of volatile market movements, it is a challenge for some investors to keep their emotions in check. When markets are in a strong rally, our herd instinct compels us to join the crowd and ride with the upside. But when markets correct, we are prone to sell out in panic. Yet, the wisest thing for investors to do at such times may be to remain calm and maintain a focused approach for their investments. Keeping an investment portfolio that is invested across different asset classes is a sound and effective strategy to ride through periods of adverse market movements.
Stock markets are volatile by nature and as illustrated in recent weeks, extended periods of rising share prices can often be interrupted by sudden bouts of consolidation. In such times, investors with moderate risk profiles should consider holding a balanced fund which is invested in both equities and bonds in near equal proportions. Balanced funds aim to provide income and capital growth over the medium to long term period by adopting a balanced asset allocation approach - 40% to 60% of the fund's Net Asset Value (NAV) is invested in equities while the balance is invested in debt securities and liquid assets. In comparison, equity funds generally have asset allocations of 85% or more in equities and the balance in fixed income securities and liquid assets.
The main benefits of investing in balanced funds are:
1. More Stable Returns: The overall portfolio risk of a balanced fund is reduced because the returns of equity and bond investments are generally not positively correlated. The potentially higher but more volatile returns from equity investments are moderated by the fund's investment in bonds. As a result, the returns of a balanced fund should be less volatile than a conventional equity fund.
2. Rebalancing: Another benefit of balanced funds is that in times of rising markets these funds "automatically" rebalance the portfolio by taking profits on equity investments which have appreciated and rebalancing the portfolio to its original equity: bond asset allocation of 60:40. Thanks to this rebalancing process, the unit trust investor need not worry about when to take profits on their investment.
3. Capital growth: A balanced fund will allow the investor to participate in the long term capital growth of equity markets because a sizable portion of up to 60% of the fund is invested in equities.
In conclusion, balanced funds are suitable for medium to long term investors with conservative to moderate risk reward temperament with a preference for receiving income and a respectable measure of capital growth. Investing in a balanced fund helps unit trust investors stay focused on achieving their long term investment goals without requiring them to evaluate the prevailing market cycle. Once they have selected a well-managed balanced fund in line with their risk profiles and investment objectives, they can be assured that the managers of the fund will take the necessary steps to rebalance the fund on a regular basis.
Source: Public Mutual
Stock markets are volatile by nature and as illustrated in recent weeks, extended periods of rising share prices can often be interrupted by sudden bouts of consolidation. In such times, investors with moderate risk profiles should consider holding a balanced fund which is invested in both equities and bonds in near equal proportions. Balanced funds aim to provide income and capital growth over the medium to long term period by adopting a balanced asset allocation approach - 40% to 60% of the fund's Net Asset Value (NAV) is invested in equities while the balance is invested in debt securities and liquid assets. In comparison, equity funds generally have asset allocations of 85% or more in equities and the balance in fixed income securities and liquid assets.
The main benefits of investing in balanced funds are:
1. More Stable Returns: The overall portfolio risk of a balanced fund is reduced because the returns of equity and bond investments are generally not positively correlated. The potentially higher but more volatile returns from equity investments are moderated by the fund's investment in bonds. As a result, the returns of a balanced fund should be less volatile than a conventional equity fund.
2. Rebalancing: Another benefit of balanced funds is that in times of rising markets these funds "automatically" rebalance the portfolio by taking profits on equity investments which have appreciated and rebalancing the portfolio to its original equity: bond asset allocation of 60:40. Thanks to this rebalancing process, the unit trust investor need not worry about when to take profits on their investment.
3. Capital growth: A balanced fund will allow the investor to participate in the long term capital growth of equity markets because a sizable portion of up to 60% of the fund is invested in equities.
In conclusion, balanced funds are suitable for medium to long term investors with conservative to moderate risk reward temperament with a preference for receiving income and a respectable measure of capital growth. Investing in a balanced fund helps unit trust investors stay focused on achieving their long term investment goals without requiring them to evaluate the prevailing market cycle. Once they have selected a well-managed balanced fund in line with their risk profiles and investment objectives, they can be assured that the managers of the fund will take the necessary steps to rebalance the fund on a regular basis.
Source: Public Mutual
Promotion For EPF Investment In PIDF
Good news !! Public Bank’s wholly-owned subsidiary, Public Mutual is giving a promotion of 5.45% service charge for Public Islamic Dividend Fund (PIDF) during the offer period 20 August 2007 to 30 August 2007.
PIDF is an Shariah-based equity fund that aims to provide income by investing in a portfolio of Malaysian stocks that complies with Shariah requirements and which offer or have the potential to offer attractive dividend yields. This fund is suitable for investors with moderate risk-reward temperament who prefer to receive regular income while capital growth is secondary.
Do take this opportunity to top-up your EPF investment in the PIDF fund as you'll enjoy the lower service charge.
The total returns for PIDF since it's launched in 14 Feb 2006 till 20 Aug 2007 is 38.05%
This will be the latest inclusion into the funds available for EPF investment. Currently, they'll be total of 7 funds to choose from :
1) Public Index Fund(PIX)
2) Public Regular Savings Fund(PRSF)
3) Public Islamic Balanced Fund(PIBF)
4) Public Select Bond Fund(PSBF)
5) Public Money Market Fund(PMMF)
6) Public Islamic Money Market Fund(PIMMF)
7) Public Islamic Dividend Fund (PIDF)
Public Mutual To Launch An Overseas Islamic Balanced Fund (21 August 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual will launch a new overseas Islamic balanced fund on 21 August 2007 (Tuesday), i.e. the Public Islamic Asia Balanced Fund (PIABF). The fund comes with free takaful coverage of up to RM100,000 per qualified unitholder. Terms and conditions apply.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PIABF is an Islamic balanced fund that seeks to provide income and capital growth over the medium- to long-term period by investing in a portfolio of investments in domestic and regional markets that complies with Shariah requirements. “Up to 60% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, South Korea, China, Taiwan, Hong Kong, Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets. The equity exposure of PIABF will generally range from 40% to 60% of its NAV,” he continued.
According to Tan Sri Teh, the fund allows investors the opportunity to invest in a balanced approach where investments are made in domestic and regional Shariah-compliant equities and Islamic debt securities in near equal proportion to spread out the risks. “PIABF is suitable for investors with conservative to moderate risk-reward temperament with preference for receiving income and a respectable measure of capital growth,” he added.
The issue price / NAV of PIABF is at RM0.2500 per unit during the 21-day initial offer period of 21 August 2007 to 10 September 2007. During the offer period, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PIABF by investors. Investors who opt for Direct Debit Instruction with PIABF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PIABF is distributed by the 20,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PIABF is an Islamic balanced fund that seeks to provide income and capital growth over the medium- to long-term period by investing in a portfolio of investments in domestic and regional markets that complies with Shariah requirements. “Up to 60% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, South Korea, China, Taiwan, Hong Kong, Philippines, Indonesia, Singapore, Thailand, Australia, New Zealand and other approved markets. The equity exposure of PIABF will generally range from 40% to 60% of its NAV,” he continued.
According to Tan Sri Teh, the fund allows investors the opportunity to invest in a balanced approach where investments are made in domestic and regional Shariah-compliant equities and Islamic debt securities in near equal proportion to spread out the risks. “PIABF is suitable for investors with conservative to moderate risk-reward temperament with preference for receiving income and a respectable measure of capital growth,” he added.
The issue price / NAV of PIABF is at RM0.2500 per unit during the 21-day initial offer period of 21 August 2007 to 10 September 2007. During the offer period, a promotional service charge of 5.45% of NAV per unit is extended to the purchase of units of PIABF by investors. Investors who opt for Direct Debit Instruction with PIABF during the offer period will also enjoy the promotional service charge of 5.45% of NAV per unit for as long as the Direct Debit is active. Terms and conditions apply. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.
PIABF is distributed by the 20,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the fund.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Public Bank Group: No Exposure To The US Subprime Mortgage Market
In view of the increasing concern around the world arising from issues related to the US residential mortgage market, Public Bank is pleased to inform that it has absolutely no exposure to the US subprime mortgage market directly or indirectly.
"The Public Bank Group's overall operations, including its Labuan Offshore Bank and overseas operations in Hong Kong and China, Indochina and Sri Lanka have absolutely no exposure to the US subprime mortgage market segment whether directly or indirectly in its investment portfolio," Tan Sri Dato' Sri Dr. Teh Hong Piow, Chairman of the Public Bank Group said today.
In addition, the unit trust funds managed by Public Mutual do not have any direct or indirect investment in the US subprime mortgage market.
Tan Sri Teh added that the Public Bank Group expects another year of strong performance this year. "This year, we expect the Group's loan growth to be sustained at the strong pace of the annualised rate of 17% as achieved in the first half of 2007. The Group's customer deposits continue to grow strongly. The Group's asset quality is expected to remain strong. Currently, the Group's net non-performing loan ratio is only 1.5% - the lowest in the banking industry in Malaysia. With its healthy loan to deposit ratio of 75%, the Group is very liquid."
Tan Sri Teh also said that the banking system in Malaysia is very liquid, strong and well capitalized. The interbank money market remains stable due to ample liquidity. "The Governor of Bank Negara Malaysia has already said that there is sufficient liquidity in the banking system," Tan Sri Teh added.
Tan Sri Dato' Sri Dr. Teh Hong Piow
Chairman of the Public Bank Group
Public Mutual Sold More Than RM2.5 Billion for 3 New Funds
KUALA LUMPUR 13 August 2007 – Public Bank’s wholly-owned subsidiary, Public Mutual announced that to date, more than RM2.5 billion worth of units of its Public China Select Fund (PCSF), Public Far-East Property & Resorts Fund (PFEPRF) and Public Islamic Asia Dividend Fund (PIADF) were sold.
Chief Executive Officer Yeoh Kim Hong said the demand for PCSF has been tremendous with more than RM1 billion (or more than 4 billion units) worth of units of its PCSF sold since it was launched in June 2007. The Company has recently increased the fund size of PCSF to 6.5 billion units to cater to the high demand of this fund. She explained that PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets and including China based companies listed on overseas markets. The fund is suitable for investors with aggressive risk-reward temperament.
At the same time, Public Mutual’s recently launched property and resorts fund, Public Far-East Property & Resorts Fund (PFEPRF) also received good response from the investors. To date, more than RM500 million (or more than 2 billion units) worth of units were sold. Launched on 10 July 2007, PFEPRF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. This fund is suitable for investors with moderate risk-reward temperament.
The Company also announced that it has increased the fund size of its Public Islamic Asia Dividend Fund (PIADF), launched in April 2007, from the existing 5 billion units to 6.5 billion units. “The demand for this Shariah-based dividend fund is overwhelming. To date, more than RM1.12 billion (or more than 4.5 billion units) worth of PIADF units were sold,” Yeoh said. PIADF is a moderate-risk Islamic equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets that complies with Shariah requirements and which offer or have the potential to offer attractive dividend yields. The fund is suitable for investors with moderate risk-reward temperament who prefer to receive income while capital growth is secondary.
All these three funds are distributed by Public Mutual’s 20,000-strong unit trust consultants.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 31 July 2007, the total NAV of the funds managed by the company was RM23 billion.
Public Bank Wins Inaugural Award
KUALA LUMPUR: Public Bank was recognised for its accomplishment in South East Asia by an investment publication based in Hong Kong.
Alpha South East Asia named Public Bank to be the inaugural winner of its "Best Bank in Malaysia" award.
Public Bank received this award for its consistent performance in generating profits and enhancing value for both its shareholders and customers.
Public Bank said the award was presented to the founder and chairman of Public Bank, Tan Sri Datuk Dr Teh Hong Piow, by the publisher and chief executive officer of Alpha South East Asia, Siddiq Bazarwala last Friday.
Since its IPO in 1967, Public Bank has generated an annualised return of 19.5% each year and since 2001, maintained an exceptionally high payout ratio of over 95% of its net profit each year.
Alpha South East Asia named Public Bank to be the inaugural winner of its "Best Bank in Malaysia" award.
Public Bank received this award for its consistent performance in generating profits and enhancing value for both its shareholders and customers.
Public Bank said the award was presented to the founder and chairman of Public Bank, Tan Sri Datuk Dr Teh Hong Piow, by the publisher and chief executive officer of Alpha South East Asia, Siddiq Bazarwala last Friday.
Since its IPO in 1967, Public Bank has generated an annualised return of 19.5% each year and since 2001, maintained an exceptionally high payout ratio of over 95% of its net profit each year.
Public Mutual Declares Distributions for 3 Funds (31 July 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual declares gross distributions for three of its funds. The gross distributions declared are for financial year ending 31 July 2007:
Public Growth Fund - Gross distribution of 9.00 sen per unit
Public Islamic Opportunities Fund - Gross distribution of 4.00 sen per unit
Public Bond Fund - Gross distribution of 4.50 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Growth Fund, which is an equity fund, has delivered an impressive one-year return of 54.01% for the period ended 13 July 2007 according to The Edge-Lipper Fund Table dated 23 July 2007. “This fund has outperformed its benchmark of 49.45% for the same period,” he continued.
As for Public Islamic Opportunities Fund, it is an Islamic small cap fund which has generated a one-year return of 67.48% for the period ended 13 July 2007. This fund has also outperformed its benchmark of 54.34%.
Public Bond Fund, on the other hand, is a bond fund that has generated a one-year return of 8.88% for the period ended 13 July 2007, according to the same The Edge-Lipper Fund Table. The fund has outperformed its benchmark of 3.76% for the same period.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 47 funds for more than 1,000,000 accountholders. As at 20 July 2007, the total net asset value of the funds managed by the company was RM23 billion.
Failaka Award Celebration Promotion
Public Mutual Bhd was named winner of the “Best Fund Manager in Asia 2006 Award” by the Failaka Advisors. The award was presented by Mr Mark J Smyth, Managing Director of Failaka Advisors to Public Mutual’s Chairman, Y. Bhg. Tan Sri Dato’ Sri Dr. Teh Hong Piow during Public Mutual’s Annual Awards Night held on 20 May 2007 at Sunway Pyramid Convention Centre, Petaling Jaya.
The Failaka Advisors, with headquarters in Dubai, UAE and offices in Chicago, USA, is a recognised leader in the field of Islamic funds research. The Failaka Islamic Fund Awards stand apart as the benchmark for excellence in the field of Islamic fund management and represents a high-water mark for award winners.
To mark this special recognition, Public Mutual will be launching the Failaka Award Celebration Promotion which offers a special promotional service charge rate of 5.45% of NAV per unit on four selected funds during the offer period from 20 July 2007 to 20 August 2007.
The funds are :
(1) Public China Select Fund (PCSF) - aggressive
(2) Public Islamic Asia Dividend Fund (PIADF) - moderate
(3) Public Far-East Balanced Fund (PFEBF) - moderate
(4) Public Global Balanced Fund (PGBF) - moderate
This is a great opportunity for those who miss the initial 1% free unit offer during the launching of these funds.
The Failaka Advisors, with headquarters in Dubai, UAE and offices in Chicago, USA, is a recognised leader in the field of Islamic funds research. The Failaka Islamic Fund Awards stand apart as the benchmark for excellence in the field of Islamic fund management and represents a high-water mark for award winners.
To mark this special recognition, Public Mutual will be launching the Failaka Award Celebration Promotion which offers a special promotional service charge rate of 5.45% of NAV per unit on four selected funds during the offer period from 20 July 2007 to 20 August 2007.
The funds are :
(1) Public China Select Fund (PCSF) - aggressive
(2) Public Islamic Asia Dividend Fund (PIADF) - moderate
(3) Public Far-East Balanced Fund (PFEBF) - moderate
(4) Public Global Balanced Fund (PGBF) - moderate
This is a great opportunity for those who miss the initial 1% free unit offer during the launching of these funds.
Closure of Public Islamic Bond Fund and Public Enhanced Bond Fund
Public Mutual wish to announce that effective 1 August 2007, the funds stated below will be closed for subscription/sale:
1. Public Islamic Bond Fund (PI BOND)
2. Public Enhanced Bond Fund (PEBF)
We will continue to process investment from Direct Debit Instructions (DDI) for both funds which were submitted before 1 August 2007.
Please note that the following bond funds remain open to accept new subscription/sale (including switching):
1. Public Select Bond Fund (PSBF)
2. Public Islamic Enhanced Bond Fund (PIEBF)
3. Public Islamic Select Bond Fund (PISBF)
1. Public Islamic Bond Fund (PI BOND)
2. Public Enhanced Bond Fund (PEBF)
We will continue to process investment from Direct Debit Instructions (DDI) for both funds which were submitted before 1 August 2007.
Please note that the following bond funds remain open to accept new subscription/sale (including switching):
1. Public Select Bond Fund (PSBF)
2. Public Islamic Enhanced Bond Fund (PIEBF)
3. Public Islamic Select Bond Fund (PISBF)
Strong Demand for Public Bank’s First Euro Pacific Fund
KUALA LUMPUR 17 July 2007 – Public Bank’s wholly-owned subsidiary, Public Mutual announced that to date, more than RM311 million (or more than 1.24 billion units) worth of units of its recently launched PB Euro Pacific Equity Fund (PBEPEF) were sold. PBEPEF was launched on 8 June 2007.
Chief Executive Officer Yeoh Kim Hong said the demand for PBEPEF has been good and the initial approved fund size of 1.5 billion units is almost fully subscribed. “The increase of fund size to 2.25 billion units will allow us to cater to the high demand of this fund since its launch,” she added.
PBEPEF is an aggressive equity fund that seeks long-term capital appreciation by investing in equities and collective investment schemes in domestic and foreign markets. “Up to 98% of the fund’s net asset value (NAV) will be invested in foreign markets which include Europe, Japan, Korea, Taiwan, China, Hong Kong, Singapore, Thailand, Philippines, Indonesia and other approved markets. The equity exposure of PBEPEF will generally range from 75% to 90% of its NAV,” she continued.
PBEPEF is suitable for investors with aggressive risk-reward temperament. The fund is distributed by Public Bank branches nationwide.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Chief Executive Officer Yeoh Kim Hong said the demand for PBEPEF has been good and the initial approved fund size of 1.5 billion units is almost fully subscribed. “The increase of fund size to 2.25 billion units will allow us to cater to the high demand of this fund since its launch,” she added.
PBEPEF is an aggressive equity fund that seeks long-term capital appreciation by investing in equities and collective investment schemes in domestic and foreign markets. “Up to 98% of the fund’s net asset value (NAV) will be invested in foreign markets which include Europe, Japan, Korea, Taiwan, China, Hong Kong, Singapore, Thailand, Philippines, Indonesia and other approved markets. The equity exposure of PBEPEF will generally range from 75% to 90% of its NAV,” she continued.
PBEPEF is suitable for investors with aggressive risk-reward temperament. The fund is distributed by Public Bank branches nationwide.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Public Mutual Sold More Than RM850 million of Public China Select Fund
KUALA LUMPUR 13 July 2007 - Public Bank's wholly-owned subsidiary, Public Mutual announced that to date, more than RM850 million (or more than 3.4 billion units) worth of units of its recently launched Public China Select Fund (PCSF) were sold. PCSF was launched on 5 June 2007.
Chief Executive Officer Yeoh Kim Hong said the demand for PCSF has been tremendous and the increase of fund size of PCSF to 3.375 billion units for the 2nd time has been fully subscribed. "The company has increased the fund size of PCSF for the 3rd time to 5 billion units," she added.
PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. "Up to 98% of the fund's net asset value (NAV) can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV," she continued.
PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. The fund is distributed by Public Mutual's 19,000-strong unit trust consultants.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Chief Executive Officer Yeoh Kim Hong said the demand for PCSF has been tremendous and the increase of fund size of PCSF to 3.375 billion units for the 2nd time has been fully subscribed. "The company has increased the fund size of PCSF for the 3rd time to 5 billion units," she added.
PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. "Up to 98% of the fund's net asset value (NAV) can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV," she continued.
PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. The fund is distributed by Public Mutual's 19,000-strong unit trust consultants.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 47 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Public Mutual To Launch Its First Overseas Property and Resorts Fund (10 July 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual will be launching two new funds on 10 July 2007, i.e. the Public Far-East Property & Resorts Fund (PFEPRF) and Public Islamic Select Bond Fund (PISBF).
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PFEPRF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. The fund may also invest in companies which have at least 70% of their assets comprising property or real estate assets. “Up to 80% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, Australia, Hong Kong, China, Singapore, Taiwan, Philippines, Thailand, New Zealand, Indonesia, South Korea and other approved markets. The equity exposure of PFEPRF will generally range from 75% to 90% of its NAV,” he continued.
He added that other than investing in REITS, PFEPRF can invest in stocks which are involved in property investment and development, hotel & resorts development and investment. “This feature of the fund therefore offers investors the benefit of increased diversification and a broader range of investment assets,” he explained.
Launching at a NAV of RM0.25 per unit, PFEPRF is suitable for moderate investors who can expect extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period from 10 July 2007 to 30 July 2007, a promotional service charge of 5.45% of NAV per unit is levied upon the purchase of units of PFEPRF by investors. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100. “PFEPRF will, on a best effort basis, distribute income annually to unitholders,” he said.
PISBF, on the other hand, is an Islamic bond fund that seeks to provide annual income through investments in Islamic debt securities which have remaining maturities of 7 years and below and Islamic money market instruments. “The fund may invest in foreign Islamic debt securities in Singapore, Japan, Hong Kong, Australia, United Kingdom and other approved markets,” he said.
PISBF will be launched at a NAV of RM1.00 per unit during the 21-day offer period from 10 July 2007 to 30 July 2007. A service charge of up to 0.25% of NAV per unit is levied upon the purchase of units of PISBF by investors. Its minimum initial investment is RM1,000 and minimum additional investment is RM100.
Both funds are distributed by the 19,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the funds.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 45 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PFEPRF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. The fund may also invest in companies which have at least 70% of their assets comprising property or real estate assets. “Up to 80% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, Australia, Hong Kong, China, Singapore, Taiwan, Philippines, Thailand, New Zealand, Indonesia, South Korea and other approved markets. The equity exposure of PFEPRF will generally range from 75% to 90% of its NAV,” he continued.
He added that other than investing in REITS, PFEPRF can invest in stocks which are involved in property investment and development, hotel & resorts development and investment. “This feature of the fund therefore offers investors the benefit of increased diversification and a broader range of investment assets,” he explained.
Launching at a NAV of RM0.25 per unit, PFEPRF is suitable for moderate investors who can expect extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period from 10 July 2007 to 30 July 2007, a promotional service charge of 5.45% of NAV per unit is levied upon the purchase of units of PFEPRF by investors. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100. “PFEPRF will, on a best effort basis, distribute income annually to unitholders,” he said.
PISBF, on the other hand, is an Islamic bond fund that seeks to provide annual income through investments in Islamic debt securities which have remaining maturities of 7 years and below and Islamic money market instruments. “The fund may invest in foreign Islamic debt securities in Singapore, Japan, Hong Kong, Australia, United Kingdom and other approved markets,” he said.
PISBF will be launched at a NAV of RM1.00 per unit during the 21-day offer period from 10 July 2007 to 30 July 2007. A service charge of up to 0.25% of NAV per unit is levied upon the purchase of units of PISBF by investors. Its minimum initial investment is RM1,000 and minimum additional investment is RM100.
Both funds are distributed by the 19,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the funds.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 45 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.
Public Mutual Declares Distributions for 6 Funds (30 June 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual declares gross distributions for six of its funds. The gross distributions declared are for financial year / period ended 30 June 2007:
PB Growth Fund - Gross distribution of 9.00 sen per unit
PB Balanced Fund - Gross distribution of 9.00 sen per unit
PB Asia Equity Fund - Gross distribution of 3.25 sen per unit
PB Fixed Income Fund - Gross distribution of 5.75 sen per unit
PB Islamic Bond Fund - Gross distribution of 4.25 sen per unit
PB Cash Management Fund - Gross distribution of 0.90 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PB Growth Fund and PB Balanced Fund have delivered an impressive one year return of 63.86% and 43.66% respectively for the period ended 15 June 2007, while PB Fixed Income Fund and PB Islamic Bond Fund have registered a one year return of 10.84% and 5.78% respectively for the same period, according to The Edge-Lipper Fund Table dated 25 June 2007. “These funds have outperformed their respective benchmarks,” he continued.
Meanwhile, PB Asia Equity Fund has generated a six-month return of 23.56% for the period ended 15 June 2007. The fund has outperformed its benchmark of 13.17% for the same period.
As for PB Cash Management Fund, it has generated a three-month return of 0.77% for the period ended 15 June 2007, according to the same The Edge-Lipper Fund Table.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 45 funds for more than 1,000,000 accountholders. As at 19 June 2007, the total net asset value of the funds managed by the company was RM21.4 billion.
PB Growth Fund - Gross distribution of 9.00 sen per unit
PB Balanced Fund - Gross distribution of 9.00 sen per unit
PB Asia Equity Fund - Gross distribution of 3.25 sen per unit
PB Fixed Income Fund - Gross distribution of 5.75 sen per unit
PB Islamic Bond Fund - Gross distribution of 4.25 sen per unit
PB Cash Management Fund - Gross distribution of 0.90 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PB Growth Fund and PB Balanced Fund have delivered an impressive one year return of 63.86% and 43.66% respectively for the period ended 15 June 2007, while PB Fixed Income Fund and PB Islamic Bond Fund have registered a one year return of 10.84% and 5.78% respectively for the same period, according to The Edge-Lipper Fund Table dated 25 June 2007. “These funds have outperformed their respective benchmarks,” he continued.
Meanwhile, PB Asia Equity Fund has generated a six-month return of 23.56% for the period ended 15 June 2007. The fund has outperformed its benchmark of 13.17% for the same period.
As for PB Cash Management Fund, it has generated a three-month return of 0.77% for the period ended 15 June 2007, according to the same The Edge-Lipper Fund Table.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 45 funds for more than 1,000,000 accountholders. As at 19 June 2007, the total net asset value of the funds managed by the company was RM21.4 billion.
Public Mutual Increases Fund Size for Its China Select Fund and PB ASEAN Dividend Fund
KUALA LUMPUR 26 June 2007 – Public Bank’s wholly-owned subsidiary, Public Mutual announced that it has increased the fund size of its recently launched Public China Select Fund (PCSF) twice since its launch on 5 June 2007 i.e. from 1.5 billion units to 2.25 billion units for the first time and to 3.375 billion units for the second time. More than RM772 million (or more than 3.12 billion units) worth of units of PCSF were sold during its offer period which was closed on 25 June 2007.
At the same time, the company also announced that it has increased the fund size of PB ASEAN Dividend Fund (PBADF) from the existing 1.5 billion units (or RM375 million) to 2.25 billion units.
Chief Executive Officer Lam Kam Yin said the demand for both overseas funds has been very strong. “The increase in fund size for PCSF and PBADF will enable us to meet the strong market demand,” he added.
PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. “Up to 98% of the fund’s net asset value (NAV) can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV,” he continued.
PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. The fund is distributed by Public Mutual’s 19,000-strong unit trust consultants.
As for PBADF, it is a moderate-risk equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets which offer or have the potential to offer attractive dividend yields. “Up to 70% of the fund’s NAV can be invested in selected regional markets which include Singapore, Indonesia, Thailand, Philippines, Vietnam and other approved markets. The equity exposure of PBADF will generally range from 75% to 95% of its NAV,” he added.
He continued to say that PBADF is suitable for investors with moderate risk-reward temperament with preference for receiving income while capital growth is secondary. “The fund will, on a best effort basis, distribute income annually to unitholders,” he said. PBADF is distributed by Public Bank branches nationwide.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 45 funds for more than 1,000,000 accountholders. As at 19 June 2007, the total NAV of the funds managed by the company was RM21.4 billion.
At the same time, the company also announced that it has increased the fund size of PB ASEAN Dividend Fund (PBADF) from the existing 1.5 billion units (or RM375 million) to 2.25 billion units.
Chief Executive Officer Lam Kam Yin said the demand for both overseas funds has been very strong. “The increase in fund size for PCSF and PBADF will enable us to meet the strong market demand,” he added.
PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. “Up to 98% of the fund’s net asset value (NAV) can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV,” he continued.
PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. The fund is distributed by Public Mutual’s 19,000-strong unit trust consultants.
As for PBADF, it is a moderate-risk equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets which offer or have the potential to offer attractive dividend yields. “Up to 70% of the fund’s NAV can be invested in selected regional markets which include Singapore, Indonesia, Thailand, Philippines, Vietnam and other approved markets. The equity exposure of PBADF will generally range from 75% to 95% of its NAV,” he added.
He continued to say that PBADF is suitable for investors with moderate risk-reward temperament with preference for receiving income while capital growth is secondary. “The fund will, on a best effort basis, distribute income annually to unitholders,” he said. PBADF is distributed by Public Bank branches nationwide.
Public Mutual is the largest private unit trust company in Malaysia, and it manages 45 funds for more than 1,000,000 accountholders. As at 19 June 2007, the total NAV of the funds managed by the company was RM21.4 billion.
EPF Members Investment Scheme (July 2007)
Good news !! Public Bank ’s wholly-owned subsidiary, Public Mutual is giving a promotion of 5.45% service charge for three of its funds during the offer period 2 July 2007 to 31 July 2007.
The funds are Public Index Fund(PIX), Public Regular Savings Fund(PRSF) and Public Islamic Balanced Fund(PIBF).
Currently, EPF members can only opt to invest in six of the funds available from Public Mutual. The other three funds are Public Select Bond Fund(PSBF), Public Money Market Fund(PMMF) and Public Islamic Money Market Fund(PIMMF).
These funds will not be investing in other countries (only in Malaysia).
Interested investors can contact me for more details.
EPF Members Investment Scheme
Explore Unit Trust Investment Opportunities
Channel your EPF funds wisely, whether you are a conservative, moderate or an aggressive investor.
The EPF Members Investment Scheme allows qualified members like you to diversify and invest part of your EPF funds in unit trusts.
With Public Mutual you can choose from a wide array of funds to invest in, one that suits your needs.
" Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing... those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it. " ~ Noel Whittaker Financial Author and Investment Advisor ~
EPF Members Investment Scheme
- Members are allowed to invest 20% of the amount in excess of RM50,000 in Account 1.
- Minimum investment RM1,000.
To Qualify
- You would need a minimum of RM55,000 in your Account 1 to meet the minimum investment requirement of RM1,000.
- You must be aged below 55.
Find out if you qualify
- Refer to your latest EPF statement.
- Write to EPF office for the latest balance.
- Check your account balance at www.kwsp.gov.my if you are an i-Account registered user.
The Guidelines
- Transfer your funds to an appointed unit trust fund company or Institusi Pengurus Dana (IPD) once you have determined the amount you want to invest.
Public Mutual's IPD number - 003
- You can make your second withdrawal 3 months after your first withdrawal, provided you are still eligible i.e. if your Account 1 balance still meets the criteria of the Scheme.
Channel your EPF funds wisely, whether you are a conservative, moderate or an aggressive investor.
The EPF Members Investment Scheme allows qualified members like you to diversify and invest part of your EPF funds in unit trusts.
With Public Mutual you can choose from a wide array of funds to invest in, one that suits your needs.
" Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing... those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it. " ~ Noel Whittaker Financial Author and Investment Advisor ~
EPF Members Investment Scheme
- Members are allowed to invest 20% of the amount in excess of RM50,000 in Account 1.
- Minimum investment RM1,000.
To Qualify
- You would need a minimum of RM55,000 in your Account 1 to meet the minimum investment requirement of RM1,000.
- You must be aged below 55.
Find out if you qualify
- Refer to your latest EPF statement.
- Write to EPF office for the latest balance.
- Check your account balance at www.kwsp.gov.my if you are an i-Account registered user.
The Guidelines
- Transfer your funds to an appointed unit trust fund company or Institusi Pengurus Dana (IPD) once you have determined the amount you want to invest.
Public Mutual's IPD number - 003
- You can make your second withdrawal 3 months after your first withdrawal, provided you are still eligible i.e. if your Account 1 balance still meets the criteria of the Scheme.
Why Public Mutual is the preferred choice?
Public Mutual is the No.1 unit trust company in Malaysia and currently manages 40 funds with total net asset value of RM18.3 billion.
A wholly-owned subsidiary of Public Bank, Public Mutual has a wealth of 26 years of experience in managing funds. Public Mutual is also the most awarded unit trust fund manager, receiving a total of 96 fund awards since 1999.
Example:
Assume investor A has RM55,000 in his EPF. Thus, the maximum amount to be transferred is calculated below.
RM55,000 (A) Account 1 Balance
RM50,000 (B) Deduct minimum balance requirement
RM 5,000 (C) Eligible Amount (A-B)
RM 1,000 Maximum Amount to be transferred (20% x C)
Public Mutual Increases Fund Size for Public Select Bond Fund
KUALA LUMPUR 5 June 2007 – Public Bank’s wholly-owned subsidiary, Public Mutual announced that it has increased the fund size of Public Select Bond Fund (PSBF) from 500 million units to 750 million units.
Public Mutual’s Chief Executive Officer Lam Kam Yin said the increase in fund size of PSBF by another 250 million units will allow the company to meet strong market demand.
Launched in November 2005, PSBF is a bond fund that aims to provide annual income through investments in fixed income securities which have a remaining maturity of 7 years and below and money market instruments. “PSBF allows investors access to the bond market which is usually inaccessible to the average investor as it is a market for institutions where the minimum transaction block amounts to RM5 million. The fund invests in a diversified portfolio of bonds, which comprises mainly of corporate bonds to produce returns that are significantly better than fixed deposits,” he continued.
He added that PSBF is suitable for investors who have conservative risk-reward temperament and who seek stability of annual income with some safety of principal.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 44 funds for more than 1,000,000 accountholders. As at 21 May 2007, the total NAV of the funds managed by the company was RM20.4 billion.
Public Bank To Launch First Euro Pacific Fund (8 June 2007)
Public Bank will launch its first Euro Pacific fund, the PB Euro Pacific Equity Fund (PBEPEF) on 8 June 2007. This fund will be managed by its wholly-owned subsidiary, Public Mutual.
Public Bank’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow who is also the Chairman of Public Mutual said PBEPEF is an aggressive equity fund that seeks long-term capital appreciation by investing in equities and collective investment schemes in domestic and foreign markets. “Up to 98% of the fund’s net asset value (NAV) will be invested in foreign markets which include Europe, Japan, Korea, Taiwan, China, Hong Kong, Singapore, Thailand, Philippines, Indonesia and other approved markets. The equity exposure of PBEPEF will generally range from 75% to 90% of its NAV,” he continued.
According to Tan Sri Teh, the fund allows investors the opportunity to participate in the long-term growth potential of a diversified portfolio of blue chip stocks, growth stocks, fundamentally undervalued stocks and dividend stocks in the domestic, European and regional markets. PBEPEF is suitable for investors with aggressive risk-reward temperament.
PBEPEF has an issue price of RM0.25 per unit and 1% FREE UNITS will be given away during the 21-day initial offer period of 8 June 2007 to 28 June 2007. The minimum initial investment for PBEPEF is RM1,000 and the minimum additional investment is RM100.
Interested investors can visit any Public Bank branch nationwide or call free-phone at 1-800-88-3323 during normal working hours to find out more about PBEPEF.
Public Mutual, the manager of the fund is the largest private unit trust company in Malaysia and it currently manages 42 funds for more than 1,000,000 accountholders. As at 21 May 2007, the total NAV of the funds managed by the company was RM20.4 billion.
Public Mutual Declares Distributions and Unit Split for Its Funds (31 May 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual declares gross distributions and unit split for seven of its funds. The gross distributions and unit split declared are for financial year / period ended 31 May 2007:
Public Far-East Select Fund - Gross distribution of 4.00 sen per unit
Public Regional Sector Fund - Gross distribution of 2.50 sen per unit
Public Ittikal Fund - Gross distribution of 9.00 sen per unit
Public Islamic Equity Fund - Gross distribution of 4.25 sen per unit
Public Dividend Select Fund - Gross distribution of 2.50 sen per unit
Public Balanced Fund - Gross distribution of 9.00 sen per unit
Public Select Bond Fund- Gross distribution of 4.50 sen per unit and unit split of 1:25 (1 unit for every 25 units held)
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said both Public Far-East Select Fund and Public Regional Sector Fund aim to achieve long-term capital appreciation by investing in domestic and regional markets. “According to The Edge-Lipper Fund Table dated 21 May 2007, Public Far-East Select Fund and Public Regional Sector Fund have generated a one-year return of 27.86% and 23.97% respectively for the period ended 11 May 2007. Both funds have significantly outperformed their respective benchmarks,” he continued.
Meanwhile, Public Ittikal Fund, Public Islamic Equity Fund, Public Dividend Select Fund and Public Balanced Fund have delivered an impressive one-year return of 37.45%, 36.08%, 34.90% and 34.53% respectively for the period ended 11 May 2007 on the back of the strong performance of the local market over the same period. These funds have the mandate to invest up to 30% of the funds’ net asset value in overseas markets.
As for Public Select Bond Fund, it has generated a one-year return of 6.86% for the one-year period ended 11 May 2007. The fund has outperformed its benchmark of 3.80% for the same period.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 42 funds for more than 1,000,000 accountholders. As at 21 May 2007, the total net asset value of the funds managed by the company was RM20.4 billion.
Public Mutual To Launch China Select Fund and Islamic Money Market Fund (5 June 2007)
Public Bank’s wholly-owned subsidiary, Public Mutual will launch two new funds on 5 June 2007, i.e. the Public China Select Fund (PCSF) and Public Islamic Money Market Fund (PIMMF).
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. These companies include companies which have at least 30% of their earnings currently derived from the greater China region or have business operations in the greater China region which are projected to contribute at least 30% of group earnings in the next two to three years. “Up to 98% of the fund’s NAV can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV,” he continued.
Launched at an issue price of RM0.25 per unit, PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period of 5 June 2007 to 25 June 2007, 1% FREE UNITS will be given away. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100. PIMMF, on the other hand, is an Islamic money market fund that is actively managed to provide liquidity and current income while maintaining capital stability by investing in instruments that comply with Shariah requirements. “PIMMF provides an option for investors to park their monies on a short-term basis before investing in or switching back to equity, balanced or bond funds. The fund is suitable for short-term investors with conservative risk-reward temperament. PIMMF will, on a best effort basis, distribute income annually to unitholders,” he said.
PIMMF has an issue price of RM1.00 per unit during the 1-day initial offer period on 5 June 2007. Its minimum initial investment is RM1,000 and minimum additional investment is RM1,000.
Both funds are distributed by 18,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the funds.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 42 funds for more than 1,000,000 accountholders. As at 21 May 2007, the total NAV of the funds managed by the company was RM20.4 billion.
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PCSF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of investments in the greater China region namely in Hong Kong, China and Taiwan markets, including China based companies listed on overseas markets such as Singapore, United States of America and other approved markets. The fund may also invest in companies listed on Bursa Securities and foreign markets which have significant or potentially significant business operations in the greater China region. These companies include companies which have at least 30% of their earnings currently derived from the greater China region or have business operations in the greater China region which are projected to contribute at least 30% of group earnings in the next two to three years. “Up to 98% of the fund’s NAV can be invested in selected foreign markets which include Hong Kong, China, Taiwan, Singapore, United States of America and other approved markets. The equity exposure of PCSF will generally range from 75% to 90% of its NAV,” he continued.
Launched at an issue price of RM0.25 per unit, PCSF is suitable for aggressive investors who can withstand extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period of 5 June 2007 to 25 June 2007, 1% FREE UNITS will be given away. The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100. PIMMF, on the other hand, is an Islamic money market fund that is actively managed to provide liquidity and current income while maintaining capital stability by investing in instruments that comply with Shariah requirements. “PIMMF provides an option for investors to park their monies on a short-term basis before investing in or switching back to equity, balanced or bond funds. The fund is suitable for short-term investors with conservative risk-reward temperament. PIMMF will, on a best effort basis, distribute income annually to unitholders,” he said.
PIMMF has an issue price of RM1.00 per unit during the 1-day initial offer period on 5 June 2007. Its minimum initial investment is RM1,000 and minimum additional investment is RM1,000.
Both funds are distributed by 18,000-strong Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the funds.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 42 funds for more than 1,000,000 accountholders. As at 21 May 2007, the total NAV of the funds managed by the company was RM20.4 billion.
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