PRINCIPAL ASSET MANAGEMENT GROUP REPORTS RM88.1 BLN IN AUM AS OF DEC 2019
KUALA LUMPUR, Jan 10 -- Principal Asset Management Bhd’s group of companies has reported RM88.1 billion in assets under management (AUM) as of December 2019.
The group of companies comprised Principal Asset Management Bhd and Principal Islamic Asset Management Sdn Bhd in Malaysia, PT Principal Asset Management in Indonesia, Principal Asset Management Company Ltd in Thailand and Principal Asset Management Pte Ltd in Singapore.
In Malaysia, Principal Asset Management Bhd continued to uphold its position as one of the leading asset management firms with AUM totalling RM58.2 billion as of December 2019, it said in a statement today.
Chief executive officer of Principal Asset Management for Malaysia Munirah Khairuddin said its top dividend-paying unit trust funds for the year included conventional and Shariah-compliant funds with yields ranging from 4.2 per cent to 7.4 per cent.
“As we look at 2020 from the investor’s perspective, we recommend a tactical asset allocation of 60:40 between equities and fixed income to capture the potential turnaround in economic activities and better earnings clarity,” she said.
Principal Asset Management, which has a total of 93 funds including both conventional and Islamic funds, four Exchange-Traded funds and 10 Private Retirement Scheme funds (PRS), also announced a dividend distribution payout totalling RM736.47 million for the 2019 fiscal year.
Its PRS membership grew to over 100,000 as of December 2019 since its inception in 2012.
-- BERNAMA
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