Fund to be managed by Sumitomo Mitsui Asset Management and distributed through Hong Leong Bank Berhad branches nationwide
Hong Leong Asset Management Bhd (“HLAM”) launched an open-end equity fund, Hong Leong Asia Pacific Equity Fund (“HLAPE Fund”) which is specifically designed for investors seeking capital appreciation over a medium to long-term investment horizon.
The HLAPE Fund will be actively managed by international fund manager Sumitomo Mitsui Asset Management (Hong Kong) Limited (“Sumitomo Mitsui Asset Management”) and aims to provide customers with capital appreciation through diversified investments into the Asia Pacific ex-Japan region.
“Our appointment of Sumitomo Mitsui Asset Management for the HLAPE Fund leverages on their in-depth investment expertise in the Asia Pacific region, and solidifies long-term investor confidence in HLAM by providing our customers access to even more diverse investment products,” said HLAM’s CEO, Mr Hoo See Kheng.
The HLAPE Fund is priced at RM 1.00 per unit during the initial offer period until 14 April 2019. The minimum initial investment is RM1,000 while minimum additional investment is RM100. The fund is distributed through about 260 Hong Leong Bank Berhad branches nationwide.
“It is an honor to be recognized for our experience and expertise, and are excited with this appointment as external manager for the HLAPE Fund. We look forward to working closely with HLAM in creating value for their customers,” added Sumitomo Mitsui Asset Management’s President & CEO, Mr. Takashi Matsushita.
HLAM had recently won four Individual Awards at the prestigious 2019 Lipper Fund Awards by Refinitiv and offers a broad spectrum of investment solutions through equities, fixed income, money market and multi-assets. As at end February 2019, HLAM’s total assets under management stands at RM17.71 billion.