MALAYSIA: Public Bank will launch its PB Sukuk Fund on the 6th September 2011, to be managed by Public Mutual, the bank’s wholly-owned subsidiary.
The fund will have a 21-day initial offer period until the 26th September with an initial issue price of RM1 (US$0.33) per unit. The fund’s minimum initial investment is RM1,000 (US$335) with a minimum additional investment of RM100 (US$33).
At least 75% of the fund’s net asset value is expected to be invested in sovereign and corporate Sukuk, with the remainder to be invested in Islamic market instruments.
Up to 30% of the fund’s Sukuk investments may also be invested in foreign markets such as Australia, Hong Kong, Indonesia, Japan, Singapore, South Korea, the UK and the US.