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.