PMB INVESTMENT ON TRACK TO ACHIEVE RM2 BLN AUM TARGET, SAYS CEO

KUALA LUMPUR, June 28 (Bernama) -- PMB Investment Bhd is on track to achieve its assets under management (AUM) target of RM2 billion, said its chief executive officer (CEO) Mahani Ibrahim.

She said that the Islamic fund management company, which is wholly-owned by Pelaburan MARA Bhd, has a net asset value of RM1.5 billion as of May 2022. 

“PMB Investment is optimistic to achieve the AUM target of RM2 billion but in the current market situation, which is falling, it is quite difficult for us to achieve that target. Maybe the end of next year or early 2024.

“But we have new products for us to achieve this target, among them are through the introduction of the PMB Syariah Greater China Equity Fund (PSGCEF). So, this year, we have to release one or two more new products and release three or four new products next year,” she said.

Mahani said PMB Investment also aims to raise up to RM20 million within three months through the PSGCEF, which was launched by Rural Development Minister Datuk Seri Mahdzir Khalid, here, today.

The launch of the PSGCEF was in conjunction with Pelaburan MARA’s 55th anniversary, which also saw UOB Kay Hian appointed as an Institutional Unit Trust Adviser (IUTA) to market PMB Investment’s unit trust products.

In addition, PMB Investment also inked a shareholding agreement with Evergreen Corporate Sdn Bhd, a recycling company in Teluk Gong, Selangor, involved in processing used tyres into industrial-grade diesel.

The company has a production capacity of 60,000 litres of diesel per day.

Regarding the PSGCEF, which is PMB Investment’s third shariah investment fund targeting overseas markets, Mahani said mainland China was chosen because the company does not have funds targeting this region.

“China is a large market and has the potential to grow rapidly due to the reopening of economic activities and the shares of companies listed on the exchange are still at an interesting level.

“This fund is suitable for investors with a medium to high level of risk and is expected to provide stable returns for three years or more,” she said.

Meanwhile, Mahdzir said PSGCEF was PMB Investment’s 19th fund and its launch was through various shariah investment portfolios listed on the Dow Jones Islamic Market (DJIM) Greater China Index, which covers the provincial markets of Mainland China, Hong Kong, Taiwan and Macau.

PSGCEF’s investment strategy is to invest between 70 and 99.5 per cent of its net asset value in shariah-compliant equities and equity-linked securities listed on the Mainland China provincial exchange and not limited to the DJIM Greater China Index.

“I am confident that with the experience and expertise in investment management available, PMB Investment will be able to provide reasonable performance and returns in the future.

“The fund is offered at a price of 50 sen per unit, with a minimum investment of RM1,000 for retail investors and RM10,000 for institutional investors,” he said.

-- BERNAMA