Principal Asset Management Berhad has introduced the Principal Islamic Global Selection Series (“Islamic Global Series”), a range of three mixed asset funds curated according to investors’ varying risk profiles to provide income and long-term capital appreciation.
The Islamic Global Series is Principal’s latest all-weather Shariah-compliant solution which offers 3 choices of funds.
The individual funds, namely, Principal Islamic Global Selection Moderate Conservative Fund; Principal Islamic Global Selection Moderate Fund; and the Principal Islamic Global Selection Aggressive Fund, aim to provide long term capital appreciation and income through Shariah-compliant investments that invest in the global markets within the target risk range of each Fund.
According to Munirah Khairuddin, CEO of Principal Asset Management, “The Islamic Global Series would allow customers to diversify into various Shariah-compliant asset classes for best risk reward, while tapping into the myriad of expertise offered by multi managers globally. During periods of uncertainty, such as the present, Shariah-compliant funds are capable of providing stable and consistent returns. This is proven historically during the SARS outbreak in 2003 and the 2008-2009 global financial crisis. As we pursue education and meaningful solutions, Principal draws the analogy of the diversification concept into a box of assorted chocolates; the richer the chocolate is, the more aggressive the portfolio would be. ”
“With the rise in Shariah-compliant investment demands compounded by the volatility of the pandemic, Principal remains resolute in looking at how we can enrich investors’ experience. Just like tastes for chocolates differ, investors are able to tap into three funds that have different portfolios that caters to their specific appetite for risk, differing in flavour but with each offering holistic global Shariah-compliant investment opportunities.”
CIMB Bank Berhad [and CIMB Islamic Bank Berhad] (“CIMB” or “the Bank”) has been appointed as the exclusive bank distributor for the Islamic Global Series for a period of six months. CIMB customers looking to invest in the Islamic Global Series, or other unit trust funds offered via CIMB, can do so easily and conveniently online via CIMB Clicks, or by visiting any of the Bank’s branches.
Samir Gupta, CEO, Group Consumer Banking of CIMB Group, said, “CIMB is pleased to be the exclusive bank distributor for the Islamic Global Series, which adds to our suite of products that can meet the specific investment needs of today’s retail investors. As the first Islamic mixed asset funds offered under our lineup of retail investment products, the Islamic Global Series also taps into investors’ growing interest in Shariah-compliant investments. We have also made the investing process safe and seamless, especially in the pandemic environment, by enabling customers to invest digitally via CIMB Clicks. We look forward to offering more innovative investment products and solutions like the Islamic Global Series in the future.”
The Principal Islamic Global Selection Moderate Conservative Fund, Principal Islamic Global Selection Moderate Fund, and the Principal Islamic Global Selection Aggressive Fund will be managed within the target risk range of 3% to 5%, 6% to 9% and 10% per annum, respectively. With the corresponding asset allocations to reflect the target risk, each individual funds offers different dividend payout frequencies and income.
Designed as income and growth funds, up to 20% of each fund’s Net Asset Value (NAV) may be invested in non-investment grade and/or unrated Islamic Debt Securities and/or unrated Sukuk.
The minimum initial investment in the Class MYR is capped at RM500 Minimum initial investment of MYR500 and minimum additional investment of MYR50. For Class USD, the minimum initial investment is capped at USD1,000 and minimum additional investment of USD100.