CIMB-Principal Launches Its 1st Global Shariah-compliant Equities Fund
8 Jan 2008
Kuala Lumpur: CIMB-Principal Asset Management Berhad launched the CIMB Islamic Global Equity Fund today, its first global equity fund which complies with Shariah principles. With this fund, investors now have access to equities in numerous emerging and developed markets, thereby reducing their exposure to volatility in any single market or region.
Datuk Noripah Kamso, Chief Executive of CIMB-Principal Asset Management Berhad, said: “The CIMB Islamic Global Equity Fund offers a balanced solution that gives investment access to emerging markets while providing investors with long-term stability arising from the strong fundamentals of developed markets. The Fund’s broad diversification across Asia-Pacific, Europe, North and Latin America significantly reduces the overall volatility of the portfolio.”
Datuk Noripah explained that investors can now benefit from a globally diversified portfolio comprising long-term core investments with exposure to satellite asset classes such as the emerging markets of Brazil, Chile, Hungary, Indonesia, Mexico, Philippines, Poland, South Africa and Thailand.
Despite the anticipated slowdown in the US economy, the International Monetary Fund (IMF) recently upgraded its global economic forecasts on the strength of emerging markets, as their strong performance is increasingly a critical driver of global growth. Since 1998, GDP per capita in the emerging markets has risen 4.5% a year, twice the rate of the developed economies. Economic statistics also show that ASEAN countries and Japan have grown less dependent on the United States, with direct trade links to the world’s largest economy diminishing as a percentage of GDP.
Datuk Noripah continued: “The improving outlook in Europe and Japan is also expected to compensate for slower US growth. In Europe, improved consumer confidence and lower unemployment will continue to drive domestic demand growth, while continued integration of new member states into the European Union should fuel exports. Global growth is further supported by the economies of Latin America which have experienced 4 consecutive years of solid growth, with the region’s GDP increasing by 17.6% with an average annual growth rate of 4.3%, the second time in the past 25 years.”
The CIMB Islamic Global Equity Fund seeks to provide investors with medium to long-term capital appreciation through investments in global equities which are undervalued and have the potential for significant growth. The Fund will invest 70% to 99% of its Net Asset Value in Shariah-compliant equities listed on the stock exchanges in the emerging and developed markets of Asia Pacific, Europe, North and Latin America. The Fund will be managed by Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equity, fixed income and real estate investments. It managed US$306 billion in assets as at 30 September 2007.
Datuk Noripah concluded: “With a minimum investors can have investment access to renowned companies such as Exxon Mobil, Microsoft, Cisco Systems and Vodafone.”
The CIMB Islamic Global Equity Fund is distributed by CIMB Wealth Advisors. The initial selling price per unit will be RM0.50, and the approved fund size is 300 million units. The fund's initial offer period ends on Monday, 28 January 2008.
http://www.cimbislamic.com/index.php?ch=islam_about_news&pg=islam_about_news_oview&ac=1255&tpt=2
*For more information, please call/sms me, Fazlina (nana), at 0173406898
8 Jan 2008
Kuala Lumpur: CIMB-Principal Asset Management Berhad launched the CIMB Islamic Global Equity Fund today, its first global equity fund which complies with Shariah principles. With this fund, investors now have access to equities in numerous emerging and developed markets, thereby reducing their exposure to volatility in any single market or region.
Datuk Noripah Kamso, Chief Executive of CIMB-Principal Asset Management Berhad, said: “The CIMB Islamic Global Equity Fund offers a balanced solution that gives investment access to emerging markets while providing investors with long-term stability arising from the strong fundamentals of developed markets. The Fund’s broad diversification across Asia-Pacific, Europe, North and Latin America significantly reduces the overall volatility of the portfolio.”
Datuk Noripah explained that investors can now benefit from a globally diversified portfolio comprising long-term core investments with exposure to satellite asset classes such as the emerging markets of Brazil, Chile, Hungary, Indonesia, Mexico, Philippines, Poland, South Africa and Thailand.
Despite the anticipated slowdown in the US economy, the International Monetary Fund (IMF) recently upgraded its global economic forecasts on the strength of emerging markets, as their strong performance is increasingly a critical driver of global growth. Since 1998, GDP per capita in the emerging markets has risen 4.5% a year, twice the rate of the developed economies. Economic statistics also show that ASEAN countries and Japan have grown less dependent on the United States, with direct trade links to the world’s largest economy diminishing as a percentage of GDP.
Datuk Noripah continued: “The improving outlook in Europe and Japan is also expected to compensate for slower US growth. In Europe, improved consumer confidence and lower unemployment will continue to drive domestic demand growth, while continued integration of new member states into the European Union should fuel exports. Global growth is further supported by the economies of Latin America which have experienced 4 consecutive years of solid growth, with the region’s GDP increasing by 17.6% with an average annual growth rate of 4.3%, the second time in the past 25 years.”
The CIMB Islamic Global Equity Fund seeks to provide investors with medium to long-term capital appreciation through investments in global equities which are undervalued and have the potential for significant growth. The Fund will invest 70% to 99% of its Net Asset Value in Shariah-compliant equities listed on the stock exchanges in the emerging and developed markets of Asia Pacific, Europe, North and Latin America. The Fund will be managed by Principal Global Investors, a diversified asset management organization and a member of the Principal Financial Group®, with expertise in equity, fixed income and real estate investments. It managed US$306 billion in assets as at 30 September 2007.
Datuk Noripah concluded: “With a minimum investors can have investment access to renowned companies such as Exxon Mobil, Microsoft, Cisco Systems and Vodafone.”
The CIMB Islamic Global Equity Fund is distributed by CIMB Wealth Advisors. The initial selling price per unit will be RM0.50, and the approved fund size is 300 million units. The fund's initial offer period ends on Monday, 28 January 2008.
http://www.cimbislamic.com/index.php?ch=islam_about_news&pg=islam_about_news_oview&ac=1255&tpt=2
*For more information, please call/sms me, Fazlina (nana), at 0173406898
0 comments:
Post a Comment