Public Bank taps into India with new fund

KUCHING: Public Bank’s whollyowned subsidiary, Public Mutual, yesterday launched a new fund called Public India-Global Equity Fund (PINGEF).

PINGEF is Public Mutual’s first unit trust fund investing in global markets focusing on India. To achieve capital growth over the medium- and long-term, PINGEF will invest 75 to 98 per cent of its net asset value (NAV) in equities, while the remainder will be invested in fixed income securities and liquid assets.

In terms of country allocation, at least 30 per cent of the Fund’s NAV will be invested in India’s equity market, while the balance will be invested in the US, Europe and selected markets in the Asia Pacific region.

Hence, the fund is well-positioned to tap into investment opportunities in the global and regional markets, thus providing medium- to long-term investors with the benefit of a diversified equity portfolio.

As one of the fastest-growing economies in the world, India registered a robust average gross domestic product (GDP) growth of 7.1 per cent for the 2000 to 2016 period on the back of rising consumer and investment spending.

After registering a growth of 6.7 per cent in 2017, India’s GDP is expected to gain pace to 7.4 per cent in 2018. The favourable demographic profile, an improving literacy rate and an increasingly affluent middle-class will help to underpin the growth in the country’s services industry.

The initial issue price for PINGEF is RM0.2500 per unit during the 21-day initial offer period from January 19 to February 8, 2018. The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100.

Investors who purchase during the initial offer period can enjoy a promotional sales charge of 5.25 per cent of the initial issue price per unit. Terms and conditions apply.

Additionally, investors who invest in this fund during the initial offer period will stand a chance to win lucky draw prizes including the grand prize of a travel package to India for two worth RM14,000. Investors will also receive one lucky draw entry for every RM5,000 invested in this Fund.

PINGEF is distributed by Public Mutual’s unit trust consultants. Interested investors can contact any Public Mutual unit trust consultant or call its Customer Service Hotline at 03-62075000 for more details of the fund.

Public Mutual is Malaysia’s largest private unit trust company with more than 130 unit trust funds under its management. It is also an approved Private Retirement Scheme (PRS) provider, managing nine PRS funds.

It has a total of 32 branches/customer service centres nationwide and over 3.7 million accountholders. As at end-November 2017, the fund size managed by the Company was RM80 billion.