KUALA LUMPUR: Nomura Asset Management Malaysia Sdn Bhd has launched its first Shariah sustainable fund, giving a boost to its total asset under management (AUM) that stood at RM29 billion as of May 31 this year.
The company expects the Nomura Global Shariah Sustainable Equity Fund to achieve AUM of RM50 million in two years.
Nomura Asset managing director and country head Leslie Yap said the fund would enable investors to access and cater to the growing demand for impact investing.
Yap said the firm wanted to offer its clients more opportunities and ways to invest according to their principles by providing long-term value with quality solutions that combine environmental, social and governance (ESG) and Shariah principles.
"We have seen an interest from investors for Shariah funds. Therefore, we decided to launch this fund. We are optimistic over achieving an AUM of RM50 million within two year of its launch," he said at the launch here today.
The fund is immediately available for a minimum initial investment of RM1,000 and US$1,000.
Nomura Asset Management United Kingdom (UK) Ltd has been appointed as the investment adviser to the fund.
"It will provide investment research and stock recommendations in accordance with the investment objectives and within the investment restrictions and limits of the fund," Nomura Asset said.
The company is partnering with Sun Life Malaysia Takaful Bhd, the family takaful arm of Sun Life Malaysia, to provide its clients with greater options including ESG factors in their investment decisions.
Following the launch of the inaugural Nomura Global Sustainable Equity Fund in July 2021, Nomura Asset has offered local investors responsible investing options.
It has been a principle for responsible investment signatory since 2011, building on its capabilities and offerings to widen the acceptance of the sustainable investing approach.