Al Rajhi Bank Malaysia (ARBM) has partnered with Nomura Asset Management Malaysia to increase its Shariah investment offering, as part of the Bank’s ambition to become the number one Islamic innovation bank in Malaysia. Through this collaboration, ARBM will increase its product diversification, fill product gaps and increase offerings to meet customers’ demands.
Three Nomura funds namely the Nomura Global Shariah Semiconductor Equity Fund, Nomura Global Shariah Strategic Growth Fund and Nomura i-Income Fund will be distributed by ARBM under this collaboration.
ARBM’s customers will have more options to opt for them to meet their long-term financial goals with Nomura’s funds. In addition, with the combination of global equity fund and a fixed income fund, investors will have the opportunity to diversify their investment portfolios as well.
“I am delighted with this strategic partnership as this represents a milestone for the Bank and marks our first partnership with Nomura Asset Management. This collaboration will offer our customers a wider selection of Shariah-compliant funds that have been strategically selected for growth based on the digital and Islamic finance trends. More importantly, this partnership will further enable ARBM to further expand our product offerings to our clients in line with the latest market trends and demands in Islamic finance,” Arsalaan (Oz) Ahmed, Chief Executive Officer at Al Rajhi Bank Malaysia said.
Nomura Global Shariah Semiconductor Equity Fund, launched in July 2022, is for investors who are seeking long-term capital growth and opportunities from companies globally involved in the manufacturing ecosystem of semiconductors that are Shariah compliant with a high-risk tolerance.
As for Nomura Global Shariah Strategic Growth Fund, the fund’s objective is to achieve long-term capital growth, primarily through the fund’s investments in foreign Shariah-compliant equities, sukuk, Islamic collective investment schemes and Islamic money market instruments.
Whilst for Nomura i-Income Fund, the fund seeks to provide investors with regular income distribution through investments in Islamic deposits, Islamic money market instruments and sukuk.
“The partnership will bring together Nomura Asset Management Malaysia’s and Al Rajhi Bank’s strength to deliver value to Al Rajhi Bank’s clients while expanding Nomura Asset Management Malaysia’s reach to more investors,” Nomura Asset Management Malaysia’s Managing Director and Country Head, Leslie Yap said.
“By offering funds with different asset classes, we will be able to provide more investment opportunities for Al Rajhi Bank to diversify their portfolio to meet their long-term financial goals,” he added.
