Public Mutual aims for 8 pct returns from public navigator growth

KUALA LUMPUR: Public Mutual Bhd is aiming to achieve eight per cent annualised returns over the long-term for its newly launched fund, the Public Navigator Growth Fund (PNVGF).

The company, a unit of Public Bank Bhd said in a statement yesterday, that the target would be secured by investing in stocks with structural growth themes and reasonable valuations, as well as those underpinned by strong fundamentals.

“Up to 98 per cent of the Fund’s Net Asset Value ( NAV) will be invested in equities or fixed income securities.

“Besides the domestic market, PNVGF also invests globally as in the United States and Europe, as well as the Asia Pacific,” it added.

Public Mutual said the fund is well positioned to capitalise on trends and investment opportunities in both developed and developing countries.

The initial issue price for the PNVGF is RM0.2500 per unit during the 21- day initial offer period from Jan 9-29 this year.

The minimum initial investment for the fund is RM1,000 and the minimum additional investment is RM100.

Investors who purchase during the initial offer period can enjoy a promotional sales charge of 5.00 per cent of the initial issue price per unit.

Public Mutual is Malaysia’s largest private unit trust company with more than 100 unit trust funds under its management.

It is also an approved Private Retirement Scheme ( PRS) provider, managing nine PRS funds and has 32 branches/customer service centres nationwide, with over 3.3 million account holders.

As at end-November 2016, the fund size managed by the company was RM69.9 billion. — Bernama