AIA Pension and Asset Management Sdn. Bhd. (APAM) has launched a new fund, AIA-PAM Global Islamic Growth Fund (AIAGIG), expanding their Private Retirement Scheme (PRS) product offering to meet the growing demand for Shariah-compliant investments.
The fund aims to provide capital growth by investing at least 60 to 90 percent of its net asset value in Shariah-compliant equities including Islamic collective investment schemes primarily in global markets.
General Manager of (APAM), Nor Daliya Mohd Daud commented, “As the world economy is set to recover from the Covid-19 outbreak, with additional policy support and the rollout of the vaccines we see opportunities to tap beyond the Malaysian market.”
AIA-PAM Global Islamic Growth Fund provides several benefits to investors including global investment opportunity, diversification, and affordable entry cost.
“APAM’s newly launched PRS fund is timely as it allows investors to tap into global growth,” she added.
This fund will enable the investor to have access to industries and companies across geographies and currencies. At the same time, it reduces the concentration risk in the local market.
The AIA-PAM Global Islamic Growth Fund is suitable for investors seeking potential capital appreciation through investing in Shariah-compliant securities predominantly in the global markets.
The investment is affordable with minimum initial and an additional contribution of RM100, the fund has a benchmark with target return of six percent per annum as a reference for comparing the fund’s performance.
Commenting on the growth of the Shariah Compliant Asset in Malaysia, Mohd Farid Kamarudin, Acting CEO of RHB Asset Management Sdn Bhd expects these assets to chart strong growth going forward driven by both demand and supply dynamics in coming years.
“On the demand side, we believe demand will continue to be strong from the retail space, especially for investors looking to enhance their return in an environment of low-interest rates. On the supply side, launching of new products and services will support the higher demand,” he added.
The fund was available from February 23 2021. More information about the AIA-PAM Global Islamic Growth Fund can be found at www.aia-prs.com.my