MALAYSIA: AmIslamic Funds Management has launched its first Asean equity fund, AmASEAN Equity, which will invest in Shariah compliant equities and equity-related securities over a medium to long-term period.
The equity fund, which has an approved fund size of 200 million units, will focus on five countries in ASEAN known for their strong economic growth: namely Indonesia, Malaysia, the Philippines, Singapore and Thailand.
The fund is denominated in Malaysian ringgit and can also be purchased in Singaporean and US dollars. Its minimum investment is RM1,000 (US$330) with its minimum additional investment amounts of RM500 (US$165).
Its initial offer period closes on the 26th June and is priced at RM0.50 (17 US cents) per unit.