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.