MALAYSIA: Public Mutual has launched six new private retirement scheme (PRS) funds, of which three are Shariah compliant.
The Public Mutual PRS Islamic Growth Fund will invest up to 70% of its net asset value (NAV) in Shariah compliant equities, while the Public Mutual PRS Islamic Moderate Fund will invest up to 60% of NAV in Shariah compliant equities and the remainder in Sukuk and Shariah-based liquid assets.
Public Mutual PRS Islamic Conservative Fund will invest 60-80% of its NAV in Sukuk, 20% in Shariah compliant equities and the remainder in Islamic money market instruments and investments accounts.