BIMB INVESTMENT EYES RM2.5B AUM
Firm sees new fund BGSEF contributing 10pc in 2 years
BIMB Investment Management Bhd, a whollyowned subsidiary of Bank Islam Malaysia Bhd, has targeted to achieve RM2.5 billion in asset under management (AUM) by year-end.
BIMB Investment chief executive officer Najmuddin Mohd Lutfi said it was managing about RM1.7 billion in AUM.
He said BIMB Investment had targeted to achieve RM100 million, or 10 per cent contribution, from its newly-launched BIMBArabesque Global Shariah Sustainable Equity Fund (BGSEF) in the next 24 months.
“BGSEF leverages the latest advancements in artificial intelligence technology and forwardlooking indicators to complement stock selection and enhance performance.
“The fund enables alternative forms of data such as weather and news in the investment process,” he said at the BGSEF virtual launch yesterday.
Najmuddin said BIMB Investment, in partnership with Arabesque, was the first to integrate syariah and environmental, social and corporate governance (ESG) criteria in its investment process in Malaysia.
BIMB Investment chairman Mohamed Ridza Mohamed Abdulla said many investors had realised that embedding ESG factors in capital markets made good business sense and led to more sustainable markets and better societal outcomes.
“Good corporate sustainable performance is associated with good corporate governance.
“The Covid-19 crisis has also shown that companies with strong ESG credentials have performed better this year.
“Investors are likely to continue sizing-up companies with the best ESG credentials, as evidence points to them having proven resilience during the pandemic.”
Meanwhile, the target fund, Arabesque Q3.17 SICAV — Q3.17 Sustainable Global Equity, aims to offer investors globally diversified exposure in up to 100 syariah-ESG stocks at all times.
BGSEF is qualified as a sustainable and responsible investment fund under the Guidelines on Sustainable and Responsible Investment Funds issued by the Securities Commission.
The fund is offered in ringgit class, ringgit-hedged class, US dollar class, Australian dollar class and Singapore dollar class.
The fund is available for subscription with an initial investment amount of RM500, RM500 hedged, US$500, A$500 or S$500.