MALAYSIA: Public Mutual, a subsidiary of Public Bank, has launched a new Islamic equity income fund, the Public Islamic Savings Fund (PISVF).
PISVF seeks to provide income over the medium- to long-term through investing in a diversified portfolio of Shariah compliant Malaysian stocks.
It is also likely to invest in Islamic recovery stocks and up to 30% of its net asset value in selected foreign markets to achieve increased diversification.