Public Mutual launches new Islamic flexible fund

KUALA LUMPUR: Public Bank’s wholly-owned subsidiary, Public Mutual, today launched a new eseries fund called Public e-Islamic Flexi Allocation Fund (PeIFAF).

PeIFAF aims to achieve capital growth over the medium to longterm by investing up to 98 per cent of its net asset value (NAV) in syariah-compliant equities or sukuk. The fund will also invest up to 30 per cent of its NAV in syariahcompliant foreign assets in North Asia, South-East Asia, Australia and other permitted markets.

“PeIFAF has a flexible fund mandate that enables the fund managers to capitalise on investment opportunities and allows the Fund to ride on promising trends and investment themes in both domestic and selected foreign markets.

“Hence, PeIFAF is suitable for medium to long-term investors seeking capital growth through a flexible portfolio allocation across Shariah-compliant equities and sukuk,” said Public Mutual’s chief executive officer, Yeoh Kim Hong.

To encourage savings amongst young investors, the minimum initial and additional investment amount is set at only RM100 and the sales charge is up to 3.75 per cent. The initial issue price for PeIFAF is RM0.2500 per unit during the 21day initial offer period from April 3to 23, 2018.

A special campaign on PeIFAF is launched during the initial offer period. The campaign offers 203 prizes with the Grand Prize being RM3,000 worth of money market fund units. Interested investors may find out more about the campaign from Public Mutual’s website.

Investors of e-series funds must be a Public Mutual Online (PMO) subscriber as all statements of transactions, investments and reports are only available online to unit holders via PMO. PeIFAF is distributed by Public Mutual unit trust consultants and Public Bank branches.

Naza Corp appoints Ramasamy as automotive group deputy group CEO

KUALA LUMPUR: Naza Corporation Holdings Sdn Bhd has appointed Ramasamy Devaraju as its deputy group chief executive officer, Automotive Group, with immediate effect.

“Devaraju brings extensive knowledge of automotive operations across all segments which will benefit the Group’s wideranging automotive businesses. His knowledge and expertise will be key in bringing improvement to the Automotive Group,” Group CEO, Automotive Group, Naza Corporation Holdings, Datuk Samson Anand George said in a statement yesterday.

He said as an automobile engineer with over 30 years of experience in the industry, Devaraju has previously worked in India and the Middle East, where he handled automobile retail operations at companies such as Hindustan Motors, Tata Motors and MercedesBenz India.