Eastspring Investments launches Islamic equity income fund

KUALA LUMPUR: Eastspring Investments Bhd yesterday announced the launch of the Eastspring Investments Islamic Equity Income Fund. This is a syariah-compliant equity fund that seeks to provide a stable income stream with medium to long-term capital growth.

The initial offer period for the Fund runs for a period of 21 days commencing from April8, 2019 and closing on April 28, 2019.

Units of the fund are priced at RM0.50 per unit during its initial offer period, thereafter pricing is based on the fund’s net asset value (NAV) which will fluctuate based on market movements.

The minimum initial investment is RM1,000 and it is available through Eastspring Investments and its authorised distributors.

The fund was launched to meet the demands of investors with the appetite for medium to long-term equity income funds.

Award-winning investment team: The fund will be managed by Eastspring’s award-winning equity investment team who are experienced in managing Islamic and equity income funds.

Eastspring Investment Berhad won 13 awards at the Lipper Fund Awards from Refinitiv 2019[1]. The funds recognised included our Shariah-compliant and equity income offerings.

“We have experienced fund managers and analysts who are very passionate about equity investing. Eastspring is a valuation and researchdriven house with good fundamental stock-picking skills and a disciplined portfolio construction process,” said Eastspring Investments chief executive officer Raymond Tang.

“We believe our investment philosophy can potentially generate consistent and attractive returns for our clients over the long run. The team’s vast experience and strong drive enables us to add value during periods of market volatility.”

Potential for dividend income and growth: Although the Fund will be a syariah-compliant version of the company’s equity income fund, the fund managers will adopt the same investment philosophy of stock picking.

“We will generally pick companies with good quality management, which are able to deliver stable earnings growth and have sustainable dividend yields backed by strong cash flow generation,” says Doreen Choo, Chief Investment Officer, Eastspring Investments.

“This strategy is intended to provide steady recurring income, as well as capital appreciation over the medium to longer-term.” - Bernama