KUALA LUMPUR: RHB Islamic International Asset Management (IIAM) today launched the RHB Islamic Asean Megatrend Fund, leveraging on the growth of potential of Asean markets and rising on trends that will shape the region's future economy.
RHB Group Asset Management managing director/regional head Eliza Ong said the fund is set to complement the government's effort in developing and growing the Islamic finance marketplace with the aspiration to position Malaysia as a key player.
"RHB's Asean Megatrend Fund is an equity growth fund which aims to achieve medium to long-term capital appreciation through investments in Shariah-compliant securities of companies with high growth potential," she told reporters after the launch of the fund here today.
Eliza said at the launch, the total assets under the fund stands at RM127 million.
RHB IIAM senior portfolio manager of regional equity Amiruddin Abdul Hamid said the RHB Islamic Asean Megatrend Fund is looking at a return of between eight and 12 per cent per annum over the next three to seven years.
Eliza said the fund is targeted predominantly at investors who are seeking to gain exposure to global companies that are benefiting from the on-going development and growth of the Asean region, with the potential to drive business and security markets performance to generate returns.