Public Mutual to launch new Islamic fund

KUALA LUMPUR: Public Mutual will launch a new Islamic equity fund fund, Public Ittikal Sequel Fund (PITSEQ) on Tuesday, Oct 11 for investors seeking medium to long term period capital growth.
The equity exposure of PITSEQ will range from 70% to 98% of its net asset value.  PITSEQ is for aggressive investors wishing to participate in the medium- to long-term growth potential of primarily Malaysian Shariah-compliant equity investments.
Public Mutual chief executive officer Yeoh Kim Hong said the Malaysian economy was expected to see resilient growth of 4.8% and 5.3% in 2011 and 2012,  supported by sustained consumer spending and growth in the services sector.
“Investing in PITSEQ gives you the opportunity to participate in the growth potential of the equity market through Shariah-compliant equity investments in a diversified portfolio of index-linked companies, blue chip stocks and companies with growth prospects that are listed on the Bursa Securities,” she said.
PITSEQ's equity exposure will generally range from 70% to 98% of its NAV and may invest up to 30% of its NAV in selected foreign markets which includes Singapore, South Korea, Hong Kong, China and other permitted markets.
Yeoh said PITSEQ also provides free takaful coverage on group term life with total and permanent disability plus group personal accident for unitholders aged between 18 and59 years with a minimum net asset value (NAV) of RM5,000 at any point of time, subjected to terms and conditions.
The initial issue price of PITSEQ is 25 sen per unit during the initial 21 days’ offer period from Oct 11 to Oct 31.
The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.