KUALA LUMPUR: AmInvest is targeting RM200 million in fund size for its recently launched AmConstant Extra 5 by its financial year ending 2017.
AmInvest deputy chief executive officer and chief investment officer Goh Wee Peng said it is an opportune time to introduce the close-ended income fund amid low yield environment to cater to the growing need of investors looking for a steady stream of income and to participate in the local bond market.
Goh said the fund is ideal for investors seeking potentially better returns than the 12-month conventional fixed deposit rate.
AmConstant Extra 5 has an offer period of 45 days from July 12 until Aug 25, 2016 at an offer price of RM1 per unit.
Its minimum initial and additional investments are RM5,000, respectively.
AmInvest is the brand for the funds management business of AMMB Holdings Bhd.