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Friday, June 6, 2008

China Islamic Fund

Public Mutual Sells RM1 Billion Of Its First China Islamic Fund

KUALA LUMPUR, Dec 13 (Bernama) -- Unit trust company Public Mutual Bhd has successfully sold about RM1 billion worth of units of its recently launched Public China Ittikal Fund (PCIF) during the offer period which ended December 10.

Its chief executive officer, Yeoh Kim Hong, said demand for PCIF has been overwhelming and the company has increased the fund size to five billion units to cater to the demand.

"The fund received good response as this is the first China Islamic fund in the country that offers investors the opportunity to ride on the solid growth prospects of the greater China region," Yeoh said in a statement here Thursday.

Yeoh said PCIF will invest a minimum of 70 percent of its net asset value (NAV) in the greater China region namely in China, Hong Kong and Taiwan stocks.