KUALA LUMPUR: Maybank Asset Management Group’s wholly-owned unit, Maybank Asset Management Sdn Bhd (MAM), expects to achieve a year-end target of RM100mil in assets under management (AUM) for its newly launched MAMG Global Dividend Fund.

       MAM chief executive officer Ahmed Muzni Mohamed said the fund is in collaboration with JP Morgan Asset Management, one of the world’s leading investment managers, with US$2.67 trillion (RM12.45 trillion) in AUM.

       He said it is a feeder fund that is aimed to achieve capital and income growth by investing in the JPMorgan Investment Funds-Global Dividend Fund, managed by JP Morgan Asset Management (Europe).

       “The fund is targeted at all investors and not looking at any specific segment.

       “We always advise our customers to hold a portfolio investment rather than just a specific investment to mitigate their investment risks and volatility of the market.

       “This brand-new all-weather fund aims to deliver superior yet consistent dividend outcomes with attractive underlying opportunities for earnings growth over the long term,” he told reporters at the fund launch yesterday.

       Ahmed Muzni said the fund is expected to create a surge of interest among local investors and give them peace of mind to grow their investment portfolios.

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       JP Morgan head of South-East Asia funds Supreet Bhan said the fund seeks to deliver consistent income and potential capital growth from a portfolio of high-quality global dividend stocks across the yield spectrum.

       “The fund’s mandate is to identify companies that are paying dividends, a characteristic that is in a way testament to the balance sheet and resiliency of that business.

       “This is because if you have a future generating cash and profits, that is when you are able to pay out dividends,” he said. — Bernama