RHBAM eyes RM200 mln in subscriptions for each of two new funds
KUALA LUMPUR: RHB Asset Management Sdn Bhd ( RHBAM) expects to garner RM200 million in subscriptions for each of its newly-launched RHB Syariah China Focus Fund and RHB Global Artificial Intelligence (AI) Fund within 12 to 18 months.
Managing director and Regional head Eliza Ong said through the RHB Syariah China Focus Fund, investors have the chance to invest in China’s blossoming Islamic capital market, capitalising in the economic superpower’s A-shares and H- shares deep investment value and across sectors.
To be managed by leading Chinese fund manager, China Asset Management ( Hong Kong) Ltd ( ChinaAMC HK), the RHB Syariah China Focus Fund will also invest in other Islamic portfolio such as real estate investment trusts, Islamic Exchange Traded Funds, money market instruments, deposits and collective investment schemes.
“We plan to launch this first Syariah- compliant China fund in Indonesia in January 2019 and are confident it will do well in the market. We will also launch the product in other markets we operate in,” she told reporters after the unveiling ceremony here yesterday. ChinaAMC HK senior portfolio manager Raymond Jing said the current valuation of China equities had reached a historically low level.
“Together with the ongoing inclusion of A- shares into global indices, it presents various opportunities and good timing for investors,” he said.
Meanwhile, the RHB Global AI Fund, introduced in collaboration with Allianz Global Investors (AllianzGI), will invest in companies that stand to benefit from the deployment of AI infrastructure, software development and adoption.
AllianzGI director and coportfolio manager Stephen B Jue said there are 60 potential sectors which can be linked to AI industries to be tapped.
“We are working with RHBAM to bring our AI fund to investors here, as we believe it will provide an attractive investment opportunity for those who want to invest in innovative companies, leveraging on the AI technology,” he added.
RHBAM, a subsidiary of RHB Investment Bank Bhd, currently manages both conventional and Islamic products with assets under management worth RM49.2 billion as at Sept 30, 2018.