Public Mutual has on Tuesday launched an e-series fund called Public e-Islamic Flexi Allocation Fund (PeIFAF).
It said on Tuesday PeIFAF’s objective is to achieve capital growth over the medium to long-term by investing up to 98% of its net asset value (NAV) in Shariah-compliant equities or sukuk.
The Fund will also invest up to 30% of its NAV in Shariah-compliant foreign assets in North Asia, South-East Asia, Australia and other permitted markets.
Public Mutual CEO Yeoh Kim Hong said PeIFAF has a flexible fund mandate that enables the fund managers to capitalise on investment opportunities and allows the fund to ride on promising trends and investment themes in both domestic and selected foreign markets.
“Hence, PeIFAF is suitable for medium to long-term investors seeking capital growth through a flexible portfolio allocation across Shariah-compliant equities and sukuk,” she said.