Sunday, May 11, 2008

Public Mutual declares distributions for 3 funds

Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for three of its funds. The gross distributions declared are for financial year / period ended 30 April 2008:

Public Islamic Dividend Fund - Gross distribution of 2.00 sen per unit
Public Far-East Balanced Fund - Gross distribution of 1.75 sen per unit
Public Islamic Asia Dividend Fund - Gross distribution of 0.40 sen per unit

Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Islamic Dividend Fund is an Islamic equity fund that aims to provide income by investing in a portfolio of stocks that complies with Shariah requirements and which offer or have the potential to offer attractive dividend yields. “Public Islamic Dividend Fund is suitable for medium- to long-term investors with preference for receiving income while capital growth is secondary”, he added.

As for Public Far-East Balanced Fund, it is a regional balanced fund which aims to provide income and capital growth over the medium- to long-term period. This fund is suitable for medium- to long-term investors who prefer to receive income and a respectable measure of capital growth. It comes with free insurance coverage of up to RM100,000 per qualified unitholder. Terms and Conditions apply.

Meanwhile, Public Islamic Asia Dividend Fund is an Islamic equity income fund that seeks to provide income by investing in a portfolio of stocks in domestic and regional markets that complies with Shariah requirements and which offer or have the potential to offer attractive dividend yields. This fund is suitable for medium- to long-term investors with preference for receiving income while capital growth is secondary. Public Mutual is the largest private unit trust company in Malaysia, and it manages 62 funds for more than 1,800,000 accountholders. As at 29 February 2008, the total NAV of the funds managed by the company was RM27 billion.

Wednesday, April 9, 2008

Public Islamic Optimal Growth Fund to capitalise on dividend and growth stocks in the domestic market


Public Bank’s wholly-owned subsidiary, Public Mutual will launch a domestic Islamic fund, Public Islamic Optimal Growth Fund (PIOGF) on 8 April 2008 (Tuesday). Investors who wish to achieve an optimal combination of capital appreciation and income growth over the long-term can invest in the PIOGF. PIOGF is open for EPF Members Investment Scheme.

Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said PIOGF is an Islamic equity fund that seeks to provide income and capital growth by investing in Shariah-compliant stocks which offer attractive dividend yields and growth stocks in the domestic market. “PIOGF invests 50% of its equity investment in Shariah-compliant growth stocks in the domestic market while the remaining 50% of its equity investment is invested in Shariah-compliant stocks which offer attractive dividend yields,” he added.

Tan Sri Teh explains that PIOGF is a capital growth and income fund that is suitable for medium to long-term investors with aggressive risk-reward temperaments. The equity exposure of PIOGF will generally range from 75% to 95% of its net asset value (NAV). PIOGF distributes annual income to the investors on a best effort basis.

The Initial Offer Price of PIOGF is at RM0.2500 per unit during the 21-day initial offer period of 8 April 2008 to 28 April 2008. The minimum initial investment is RM1,000.

PIOGF is distributed by Public Mutual unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant.

Public Mutual is the largest private unit trust company in Malaysia, and it manages 61 funds for more than 1,650,000 accountholders. As at 31 December 2007, the total NAV of the funds managed by the company was RM28.4 billion.

Note: if you are interested to invest in this Islamic equity fund, please contact your Islamic unit trust consultant:
Ahmad Sanusi Husain - mobile: +6019-234 8786 / e-mail: sanusi.my@gmail.com

Sunday, March 30, 2008

Unit trust players capitalise on openings amid volatility

(DailyEdge, 10 March 08)

KUALA LUMPUR: Unit trust players in Malaysia are capitalising on pockets of opportunities to keep their respective portfolios afloat in a volatile global investment landscape.

Anticipation of a possible recession in the US combined with soaring prices of petroleum and palm oil products are keeping fund managers vigilant to innovate and adjust their portfolios according to market dynamics.

Moreover, industry players said the Securities Commission’s (SC) latest policies for the local unit trust sector would spur growth as fund managers would have more leeway to steward their funds and mitigate risks.

“Malaysia is less volatile compared to other Asia (excluding Japan) markets. There will be more correction in other markets, hence, more value stocks abroad.

“We don’t invest for the sake of investing as we need to find value in our investments,” Pheim Unit Trusts Bhd chief executive officer Phua Lee Kerk told The Edge via telephone last Friday.

The SC, in a move to expand Malaysia’s unit trust sector, has allowed unit trust funds to increase their exposure in derivatives, and scrapped the requirement for the regulator’s consent to conduct offshore businesses.

In Malaysia, unit trust net asset value had grown from RM15.72 billion, accounting for 6.39% of market capitalisation in 1992 to RM169.41 billion or 15.32% in 2007. As at Jan 31, 2008, the figure had advanced to RM170.01 billion or 16.08% of the bourse’s market value, according to the SC.
Meanwhile, CIMB-Principal Asset Management Bhd hopes to offer more foreign-based products as well as syariah-compliant funds which are deemed sheltered from global financial markets roiled by the subprime loan crisis in the US.

“The local unit trust industry is going to be quite challenging this year,” said its chief executive Datuk Noripah Kamso.

“But where we are heading is really capturing a window... actually an Islamic window in the domestic, regional and international markets,” added Noripah, who believed emerging economies within Asean would do well this year.

OSK-UOB Unit Trust Management Bhd chief executive officer Ho Seng Yee said the firm was on a bargain-hunting mode for cheaper stocks amid a downturn in global stock markets.
“If I raise money now and invest over time, that is best because prices are very low now. Overall, the new (SC) guidelines are welcomed for the conducive growth to a more vibrant industry,” Ho said.

Acccording to the Lipper FundMarket Insight Reports, unit trust funds registered for sale in Malaysia posted a 3.99% drop in value last January, triggered mainly by poorer performance of funds investing in stocks of companies in China and Asia-Pacific.

Islamic unit trusts also declined, albeit on a smaller scale of 2.83%, cushioned by gains from funds investing in local bonds, besides stocks of companies dealing with gold and precious metals.

In 2007, Islamic unit trust funds which gained 22.84% outperformed the 21.33% achieved by the broader unit trust market, as soaring commodity prices bolstered the Kuala Lumpur Composite Index.

In comparison, unit trust funds in Singapore dipped 7.7% in January 2008, led by a poorer showing by equity funds. In 2007, the sector grew an average of 7.78%.

Meanwhile, estimates by the International Investment Funds Association showed that equity schemes accounted for the largest share or 41% of global mutual funds as at September 2007.

According to the World Bank’s Global Economic Prospects 2008 report, resilience of developing economies is cushioning the current slowdown in the US. Real gross domestic product growth for developing nations is anticipated to drop to 7.1% in 2008, while high-income countries are expected to expand 2.2%.

Collectively, global growth is forecast to dip to 3.3% this year from 3.6% in 2007 as risks posed by a weakening US dollar, a possible recession in the US and financial market volatility, are anticipated to cut export income and capital inflows for developing countries, and reduce the value of their US dollar-denominated investments overseas. Link

$19 billion industry rewards Islamic fund performance

(ArabianBusiness, 25 March 08)

World's top fund managers celebrate, innovation, achievement and excellence at annual Failaka Islamic Funds Awards in Dubai.

Investment companies and banks in Saudi Arabia, the United Arab Emirates, Kuwait, Bahrain, Malaysia, Ireland, South Africa, France and the United States have been awarded the highest global accolades in Islamic fund management. Organised by Failaka Advisors, the 3rd Annual Islamic Fund Awards were held last night (24 March 2008) at Emirates Towers Hotel, Dubai, recognising the world's best performing Shari'ah compliant funds.The Failaka Awards have consistently set benchmarks for the performance of Shari'ah-compliant funds industry, which now has over $19 billion in assets. The awards highlight the achievements and innovations of fund families, fund managers, and individual funds.

The Best Islamic Fund Manager award for the Gulf Co-operation Council countries went to NCB Capital. The Best Islamic Fund Manager in the United States was Saturna Capital and the Best Islamic Fund Manager for Asia was Public Mutual of Malaysia. South Africa, Ireland and Dubai company Oasis made it a hat-trick with awards going to its Ireland office for the three and five year performance of its Oasis Crescent Global Equity Funds. The South Africa office picked up the award for the Best South African Fund.Saudi Arabian firms picked up several awards: Saudi British Bank scored a double by receiving the Best GCC Equity Fund award (one year) for its Amanah GCC Equity and Amanah Saudi Equity (three year). The Best Balanced Fund (one year) went to Riyad Bank's Islamic Balanced Income; the Best Balanced Fund (three year) went to Saudi Hollandi's Al-Yusor Tamoh Portfolio; and the Best Emerging Market Equity Fund (one year) was Al Fursan BRIC Equity Trading from CAAM Saudi Fransi.United Arab Emirates institutions also had a good night. Winners were: Best European Equity Fund one year and three year awards, Permal Investment Management Services' Alfanar Europe; Best Asian Equity Fund (one year) went to DWS Investments for DWS Noor China Equity; and SHUAA Asset Management the Best Middle East North Africa Equity Fund (one year) award for its Arab Islamic Gateway.Kuwait's Al Madar Finance and Investment won two awards - the Best US Equity Fund for its Al Madar US Index for both one year and three year performance. Similarly two awards went to CMS Trust Management of Malaysia for its CMS Islamic for the one and three year categories.The Best Asia Equity Fund (three year) award went to Bahrain's Al-Tawfeek Company for Investment Funds for its Al-Nukhba Asian Equity. The Best Global Equity Fund (one year) award went to BNP Paribas Asset Management of France for its BNP Islamic Equity Optimizer."This year's awards were held in front of a high profile gathering of global fund managers drawing more attention to the growth and broadening interest in Shari'ah-compliant investment funds," said Mark Smyth, Managing Director, Failaka Advisors. "The awards have consistently set benchmarks for the performance of the Shari'ah-compliant funds industry and that has been further consolidated with the 2008 event."Sponsors of the 3rd Annual Islamic Fund Awards were: SHUAA Asset Management, a division of Dubai-based Shuaa Capital; Kuwait Stock Exchanged listed Al-Madar Finance & Investment Company; MSCI Barra, a leading provider of indices and portfolio risk and performance analytics; Oasis Crescent Capital (DIFC) Limited, part of Oasis Global Fund Managers; and California headquartered IdealRatings.

Notes and contacts

About Failaka Advisors
In 1997, Failaka Advisors became the first organization to track and publish performance results for Islamic equity funds; that year, their first Islamic Fund Report included 13 funds. Now, their Islamic Fund Database reports on the investment objectives, fund geography, top-ten holdings, and assets and performance of the more than 250 Islamic equity funds worldwide that report regularly to www.failaka.com. Link

Saturday, March 29, 2008

Corporate Profile - Public Mutual Berhad



Public Mutual Berhad (Public Mutual) is the largest private unit trust company in Malaysia and currently manages 58 funds with total NAV of more than RM28.4 billion for more than 1,650,000 accountholders. Incorporated in July 1975, Public Mutual began its operations in 1980 with the launch of the Public Savings Fund, and soon went on to become an industry leader and setting forth new trends in innovative fund development.

Market Share And Distribution
Public Mutual anchors 36.38 percent market share in private unit trust funds when measured by net asset value (as at 30 August 2007. source:The Edge-Lipper, 17 September 2007).Public Mutual markets its funds through its dedicated and trained unit trust consultants force which is currently the largest and collectively the most productive in the entire private unit trust industry. Public Mutual is linked extensively through its national network of branches, as well as agency offices to provide better service to the investors.In addition, investors of Public Mutual can also take advantage of Public Bank branches that act as effective collections centres for Public Mutual.

Financial Strength And Track Record
Public Mutual as a wholly-owned subsidiary of Public Bank subscribes readily to the Group's excellence-oriented corporate culture and high standards of financial integrity in the management of its unit trust funds.Public Mutual is also the most awarded unit trust fund manager in Malaysia. Public Mutual is the biggest winner at The Edge-Lipper Malaysia Fund Awards 2007 and The Star/Standard & Poor's Investment Fund Awards Malaysia 2007, having won a total of 21 awards from both occasions. Public Mutual was named Best Fund Manager in Asia 2006 by the Failaka Advisors, Dubai – a recognised world leader in the field of Islamic Funds research. They stand as the benchmark for excellence in the field of Islamic fund management and represents a high-water mark for award winners. These victories also bring Public Mutual's medal tally to 100 awards since 1999.
Financial Planning
Public Mutual has a series of Financial Planning software. The revolutionary Financial Freedom FP Advisor software is a tool exclusive to Public Mutual’s unit trust consultants. It provides a wide array of financial planning services and fund investment analysis ‘on the spot’ and to date, more than 2,660 of Public Mutual’s unit trust consultants have been professionally trained to use the FP Advisor software. On top of these, Public Mutual’s Financial Freedom Retirement Planning and Education Planning software are two user friendly, ‘Do-It-Yourself’ tools that enable you to determine your retirement and your children’s education needs in the comfort of your home.To help more Malaysians plan their personal finances, Public Mutual opened its first Financial Planning Centre right in the heart of affluent Bangsar at Lot 36-2 & 38-2, Jalan Maarof, Bangsar Baru. The FP Centre offers free financial health check to its unitholders and the general public. The centre is manned by a group of qualified financial planners who will also conduct FP talks and workshops, particularly in retirement and education planning.
Customer Service
Public Mutual is committed to excellent customer service. Our strong commitment to achieve this objective is through constant surveillance of customer satisfaction through our Customer Service Department and Mutual Gold (Priority Service). Public Mutual has invested heavily in Information Technology (IT) in order to provide a convenient and effective business environment for its investors.Public Mutual is also dedicated to building capable and professional personnel to ensure we achieve service excellence. With this is mind, Public Mutual constantly provides sound guidance and professional education to our unit trust consultants and staff to ensure that they become experts in providing excellent service and qualified financial consultation.