Tuesday, July 10, 2007

Public Mutual Property and Resorts Fund



Public Bank’s wholly owned subsidiary, Public Mutual will be launching two new funds on 10 July 2007, which are
Public Far-East Property & Resorts Fund (PFEPRF) and Public Islamic Select Bond Fund(PISBF).

Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PFEPRF is an equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment, and real estate investment trusts (REITs) in domestic and regional markets. The fund may also invest in companies, which have at least 70% of their assets comprising property or real estate assets. “Up to 80% of the fund’s net asset value (NAV) can be invested in selected regional markets which include Japan, Australia, Hong Kong, China, Singapore, Taiwan, Philippines, Thailand, New Zealand, Indonesia, South Korea and other approved markets. The equity exposure of PFEPRF will generally range from 75% to 90% of its NAV,” he continued.

He added that other than investing in REITS, PFEPRF could invest in stocks, which are involved in property investment and development, hotel & resorts development and investment. “This feature of the fund therefore offers investors the benefit of increased diversification and a broader range of investment assets,” he explained.

Launching at a NAV of RM0.25 per unit, PFEPRF is suitable for moderate investors who can expect extended periods of market highs and lows in pursuit of capital growth. During the 21-day initial offer period from 10 July 2007 to 30 July 2007, a promotional service charge of 5.45% of NAV per unit is levied upon the purchase of units of PFEPRF by investors. The minimum initial investment for the fund is RM1, 000 and the minimum additional investment is RM100. “PFEPRF will, on a best effort basis, distribute income annually to unit holders,” he said.

PISBF, on the other hand, is an Islamic bond fund that seeks to provide annual income through investments in Islamic debt securities, which have remaining maturities of 7 years and below, and Islamic money market instruments. “The fund may invest in foreign Islamic debt securities in Singapore, Japan, Hong Kong, Australia, United Kingdom and other approved markets,” he said.

PISBF will be launched at a NAV of RM1.00 per unit during the 21-day offer period from 10 July 2007 to 30 July 2007. A service charge of up to 0.25% of NAV per unit is levied upon the purchase of units of PISBF by investors. Its minimum initial investment is RM1, 000 and minimum additional investment is RM100.

The 19,000-strong Public Mutual unit trust consultants distribute both funds. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-6279 5252 for more details of the funds.

Public Mutual is the largest private unit trust company in Malaysia and it currently manages 45 funds for more than 1,000,000 accountholders. As at 29 June 2007, the total NAV of the funds managed by the company was RM22 billion.

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