New fund launched, equity small-cap fund, good ones! Get one!
Kuala Lumpur, 20 APRIL 2011 – MAAKL (pronounced as ‘mac kle’) Mutual today announced the launch of the MAAKL-HDBS Shariah Progress Fund, an Islamic equity small-cap fund, that gives investors the opportunity to invest in Shariah-compliant growth companies in Malaysia.
The fundamental investment process will be geared towards identifying and investing mainly in growth companies listed in Bursa Malaysia which are not part of the FTSE Bursa Malaysia KLCI Index constituents. The strategy focuses the Fund Manager’s investable universe to those Shariah-compliant stocks which are not part of the largest 30 companies by market capitalisation in the FTSE Bursa Malaysia Emas Index. The Fund Manager believes that such companies would have the potential to achieve strong rates of growth. Whilst such companies are normally associated with higher risks, the potential return could also be very rewarding, if the right companies are selected.
Mr. Wong Boon Choy, Chief Executive Officer and Executive Director of MAAKL said, “The investment objective of MAAKL-HDBS Shariah Progress Fund is to provide unit holders with steady long-term capital growth at a reasonable level of risk by investing in a diversified portfolio of small- to medium-capitalised Shariah-compliant equities and equity-related instruments.”
He added, “We believe there are Shariah-compliant companies in Malaysia that are not well followed by the investment community, but have the potential to develop into future industry leaders. Such companies could be involved in manufacturing, services or trading businesses that have not just Malaysia, but the whole world as their marketplace. These companies could also be providing supporting roles to multinationals and larger companies domestically and globally. These companies if in the right businesses and managed by competent management, generally have higher earnings potential that may translate to better returns for investors.”
MAAKL-HDBS Shariah Progress Fund is designed for investors who are willing to accept a higher level of risk and seek to maximise long-term capital appreciation from their investments. These investors should also have a low income stream requirement and a medium- to long-term investment horizon of between 3 and 5 years.
MAAKL-HDBS Shariah Progress Fund has an approved fund size of 600 million units. During the 21-day initial offer period starting from 20 April until 10 May 2011, the initial offer price is RM0.25 per unit. The minimum initial investment is RM1,000 and the minimum additional investment is RM100. MAAKL-HDBS Shariah Progress Fund is distributed by MAAKL’s unit trust advisers.
The Fund Manager of MAAKL-HDBS Shariah Progress Fund is HwangDBS Investment Management Berhad which also manages our award-winning MAAKL-HDBS Flexi Fund. At The Edge-Lipper Malaysia Fund Awards 2011, MAAKL-HDBS Flexi Fund received the Best Mixed Asset MYR Flexible Fund, 3 Years award.