AmInvestment Bank Group targets to increase its assets under management to RM25bil next year from about RM22.3bil as at end-October.
Its Chief executive officer Datin Maznah Mahbob has mentioned that the funds management division had set to grow its assets by at least 23% annually for the next five years.
To date, it has managed 58 conventional and Islamic unit trust funds.
And for this year, the division launched 12 funds and may introduce about the same number next year.
They also plan to launch a few more Islamic products and equities funds in 2011after the launch of its AmIslamic Greater China fund here yesterday.
According to AmInvestment Bank retail funds director (fund management division) Ng Chze How, with an initial fund size of RM100mil, the newly-launched fund is expected to generate a double-digit return in the long term, which is supported by stronger growth in Greater China compared with other developed markets.
As China has emerged as the preferred investment destination due to its strong growth of between 9.5% and 10% in the last two decades. And even during the slowdown, China still maintained the same numbers and we are bullish about its market outlook.
The multi-currency fund has an initial offer period of 21 days until Nov 28 and retails for US$0.20 per unit.
Initial investment for the scheme is pegged at RM1,000 for ringgit investors while for other investors, the amount is US$500 or the nearest equivalent in any dealing currency.
(Source: The Star Online)
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