KUALA LUMPUR (Feb 13): AmIslamic Funds Management (AIFM) recently launched the AmIslamic Fixed Income Conservative with the objective of providing capital appreciation over the short-to-medium term.
The bond fund would, which would invest in a portfolio of fixed income instruments that complied with Shariah principles, would provide capital preservation and potentially higher returns than fixed deposits.
Chief executive officer of the funds management division for AmInvestment Bank Group Datin Maznah Mahbob said on Monday the fund was most suitable for risk-averse investors looking to invest for stability in the current global uncertainty.
She added the fund had potentially higher returns than fixed deposit, adding the fund’s investments “provides capital preservation”.
Investors could invest in the fund with minimal cost as the fund has no entry and exit charges and management fee was 0.75% per annum of the net asset value.
The fund has an approved size of 500 million units and it would be distributed at all AmBank branches and AmPrivate Banking. Investors could also purchase units in other currencies such as Singapore dollars and US dollars.