BIMB UNIT EYES RM100m FROM NEW SYARIAH FUND
New equity fund to invest in 100 local syariah-compliant firms listed on Bursa
BIMB Investment Management Bhd is targeting RM100 million in subscriptions from its newly-launched BIMBArabesque ValueCAP Malaysia Shariah-ESG Equity Fund within a year from its launch.
The syariah equity fund, the result of a strategic collaboration between Arabesque Asset Management Holding Ltd and ValueCAP Sdn Bhd, will be investing in 100 local syariahcompliant companies listed on Bursa Malaysia.
BIMB Investment chief executive officer Najmuddin Mohd Lutfi said the investments would be based in companies with strong financial standing and potential for growth.
“As of now, ValueCAP has invested some RM50 million. We hope more investors will join the fund as it is suitable for corporate investors, the government, universities and Takaful providers,” he said, here, yesterday.
Najmuddin said companies interested in increasing social responsible investment (SRI) and environmental, social and governance (ESG) portfolios should tap the fund.
BIMB Investment chairman Nik Mohd Hasyudeen Yusoff said Malaysia had the second-largest ESG market in Asia, after Japan.
Malaysia holds 29 per cent, or US$56 billion (RM224 billion), of the global Islamic asset management segment.
“Given the rapid growth of the SRI segment worldwide, Malaysia has the potential and capabilities to lead within this segment given its already premier standing currently,” he said.