CIMB-Principal launches APAC growth fund for capital appreciation
15 May 2016
Kuala Lumpur:CIMB-Principal Asset Management Berhad (“CIMB-Principal”) today announced that it has launched the CIMB-Principal Asia Pacific Dynamic Growth Fund (“the Fund”).The Fund aims to achieve potential capital appreciation over the medium to long-term, by investing in Asia Pacific, the world’s fastest growing region.
Munirah Khairuddin, Chief Executive Officer of CIMB-Principal said, “The pace of change is accelerating in Asia Pacific, and equities in this region have matured significantly. While some parts of the world are still struggling to find growth, Asia Pacific presents significant opportunities due to its growing population and high urbanisation rate. The emergence of the urban middle class has created a huge increase in private consumption and infrastructure spending, which are important contributors to the region’s vibrant growth. Being regionally integrated, our well-trained investment team is well-poised to find good quality stocks for the Fund and position our investment ahead of the market to provide the best potential returns for our investors.”
The new Fund aims to achieve a target return of 9% over the medium to long term by investing in companies with above average growth potential compared to its industry peers or the overall market. It is suitable for investors who are willing to take moderate risks.
“The Fund adopts a flexible and dynamic asset allocation strategy, where under general market conditions, we will invest in equities, while under adverse market conditions, the fund may invest all or a substantial portion of its assets in debt instruments, money market instruments and/or deposits to achieve the investment objective. We firmly believe that the Fund will enable investors to benefit from the good economic potential in this region and we are expecting a RM500 million subscription of the Fund by the end of 2016,” Munirah added.
The CIMB-Principal Asia Pacific Dynamic Growth Fund is established as an open-ended fund with multiple currency share classes to offer investors the options to invest using not just Malaysian Ringgit, but also the Australian Dollar, Singapore Dollar or the United States Dollar. The Fund is offered in Malaysia for subscription with a minimum initial investment of RM1000, SGD1000, USD1000, or AUD1000 respectively. Investors can purchase the Fund from unit trust consultants of CIMB-Principal (CWA), CIMB Bank, Alliance Bank and soon, other leading participating banks. HSBC (Malaysia) Trustee Berhad has been appointed as the trustee of the Fund to safeguard unit holders’ interests.
To date, CIMB-Principal has a total of 63 unit trust funds (of which 19 are Shariah-compliant), 19 wholesale funds, 10 Private Retirement Scheme (PRS) funds and two exchange-traded funds (ETFs). The Company recently won fund performance awards by The Edge | Lipper Malaysia Fund Awards 2016 for the Best Overall Group, Best Equity Asia Pacific Ex-Japan for the 3 years and 5 years categories, Best Equity Global for the 3 years and 5 years categories as well as the Best Equity Asia Pacific Ex-Japan (Islamic) for the 3 years category.For Morningstar Awards 2016 Malaysia, the Company bagged the award for Best Asia Pacific Equity Fund category. It was also recently named the Best Fund House in Malaysia by AsianInvestor for its Asset Management Awards 2016. As at 20 April 2016, CIMB-Principal Group had a total of RM60.4 billion in assets under management.
Munirah Khairuddin (left), Chief Executive Officer of CIMB-Principal and Patrick Chang (right), Chief Investment Officer of CIMB-Principal, Malaysia at the launch of the CIMB-Principal Asia Pacific Dynamic Growth Fund. The fund aims to achieve potential capital appreciation over the medium to long-term, by investing in Asia Pacific, the world’s fastest growing region.
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