Manulife Asset Management Services Berhad (MAMSB) announced the launch of the Manulife Investment Shariah Progress Plus Fund, a fund specifically designed for investors seeking diversified Shariah-compliant equity opportunities within the booming economy in the Asia Pacific region.
The fund can invest up to 30 percent of its net asset value (NAV) in Shariah-compliant equities in regional markets, including but not limited to Malaysia, Australia, China, Hong Kong, Indonesia, New Zealand, the Philippines, Singapore, South Korea, Japan, Taiwan and Thailand.
It has a similar investment strategy to the Manulife Investment Shariah Progress Fund which taps into increasing growth opportunities of Shariah-compliant companies, but features wider exposure to the broader Asia Pacific region.
“The new Manulife Investment Shariah Progress Plus Fund is designed to provide investors access to the vast Islamic equity investment opportunities in the region’s small to medium sized companies,” said MAMSB chief executive officer and executive director, Jason Chong.
The fund’s investments mainly comprise a diversified portfolio of Malaysian Shariah-compliant equities, with emphasis on the high growth potential of smaller companies which in aggregate tend to grow faster than larger companies.
“By offering a Shariah-compliant unit trust investment option with expanded geographical exposure, while sharing similar characteristics with our existing Manulife Investment Shariah Progress Fund, MAMSB demonstrates flexibility in responding to changing market needs and growing demand from investors with different investment and risk appetites,” explained Chong.
In addition to investment diversification, the Fund seeks to gain exposure to the small and mid-cap companies which offer more attractive valuation, as well as those holding a niche position in global supply chains.
The Manulife Investment Shariah Progress Plus Fund will be priced at RM0.25 per unit during the initial offer period from April 13 to May 3.
The minimum initial investment for Manulife Investment Shariah Progress Plus Fund is RM1,000 while the minimum additional investment is RM500.
For the past eight years, MAMSB’s Shariah-compliant funds have been award winners and these funds have won a total of 15 “Best Fund” awards for three-Year and/or five-Year fund performances from esteemed bodies like Kuala Lumpur Islamic Finance Forum - Islamic Finance Awards, Thomson Reuters Lipper Fund Award - Global Islamic and The Edge | Thomson Reuters Lipper Malaysia Fund Awards.
