PETALING JAYA: CIMB-Principal Asset Management Bhd has launched CIMB Islamic Global Equity Fund, the latest addition to its suite of 20 Islamic funds, that taps into the growth prospects of syariah-compliant global equities.
CIMB-Principal is confident of achieving a target fund size of RM300 million in assets under management within a year of the fund’s inception.
CIMB-Principal Islamic Global Equity Fund is suitable for investors seeking a syariah-compliant global portfolio with an investment horizon of at least five years.
The fund is available to investors with a minimum initial investment of RM500.
The fund will invest in a minimum of 70% and up to a maximum of 98% of its net asset value (NAV) in syariah-compliant global equities and equities-related securities to gain long-term capital growth. The fund may also invest up to 28% of its NAV in sukuk, syariah-compliant money market instruments and Islamic deposits.
CWA, the wealth management and product distribution arm of CIMB-Principal, is the exclusive distributor of the fund.
Source: The Sun Daily