KUALA LUMPUR: PMB Investment Bhd is targeting to achieve RM10 million to RM15 million fund size by year-end for the newly-launch PMB Shariah Global Equity Fund (PMBSGEF).

       PMB Investment chief executive officer Mahani Ibrahim said the fund would provide Malaysian investors with access to an actively managed portfolio of global Shariah-compliant securities.

       "PMBSGEF offers capital growth over the medium to long term period by investing in a diversified portfolio of Shariah-compliant securities listed on global markets.

       "It is suitable for investors with medium to high risk tolerance level,” she said in a virtual press conference on PMBSGEF today.

       The event was virtually launched by Rural Development Minister Datuk Seri Mahdzir Khalid who commended PMB Investment for making another major milestone while continuing to fulfil their mandate to all Malaysians by providing easy access to global markets at an affordable entry point amidst a global pandemic outbreak.

       Meanwhile, Mahani said PMB Investment is also targeting to grow PMBSGEF fund size to RM25 million to RM50 million within a year after launching.

       She said the minimum initial investment is RM1,000 for individual investors and RM10,000 for institutional investors, while the minimum additional investment is RM100 and RM1,000 respectively.

       "The fund is available now for purchase at 50 sen per unit for a limited time from our unit trust consultants or through our nationwide offices,” she said.

       She said the fund would invest up to 99.5 per cent of its net asset value into Shariah-compliant global equities and Shariah-compliant equity-related securities in more than 15 countries including the United States, United Arab Emirates, China and Japan.

       "PMB Investment is partnering with Nasdaq Dorsey Wright (NDW), a leading advisor to Wall Street and investment managers worldwide, to manage the fund using its proven methodologies and investment strategies,” she added.

       PMB Investment is a fully-owned subsidiary of Pelaburan MARA Bhd and currently manages 18 funds and a few portfolio mandates with investments in three major asset classes known as equity, Sukuk and money market. - Bernama