AmBank (M) Berhad appointed as New Distributor for Amanah Hartanah Bumiputera Fund
Dato’ Sulaiman Mohd Tahir, Group CEO, AmBank Group (middle) flanked by Datuk Kamalul Arifin Othman, Group Managing Director/Chief Executive Officer, Pelaburan Hartanah Berhad (2nd from right), Encik Badrul Hisyam Abu Bakar, Chief Executive Officer, Maybank Asset Management Malaysia; (2nd from left), Anthony Chin, Acting Head, Retail Banking, AmBank (M) Berhad (extreme left) and Eqhwan Mokhzanee, CEO, AmBank Islamic (extreme right) at the launch of AmBank (M) Berhad appointment as the new distributor for Malaysia’s first fixed price Shariah-compliant real estate backed unit trust fund, Amanah Hartanah Bumiputera Fund.
AmBank (M) Berhad has been appointed as the new distributor for Malaysia’s first fixed price Shariah-compliant real estate backed unit trust fund, Amanah Hartanah Bumiputera Fund which seeks to provide unit holders with a regular and consistent income stream whilst preserving the unit holder’s investment capital.
The sponsor of the fund is Pelaburan Hartanah Bumiputera (PHB) while it is managed by Maybank Asset Management (MAM) and the fund distributors are AmBank (M) Berhad and Maybank. AmBank has officially launched the fund to the public on 3 August 2016.
Amanah Hartanah Bumiputera Fund’s investment strategy seeks to achieve its investment objective by investing primarily in the ownership of real estate in Malaysia from PHB in commercial properties including but not limited to office buildings, shopping complexes, commercial centres, logistics and industrial complexes. It also invests in Shariah-compliant money market instruments and equivalent instruments and holds cash to meet its liquidity requirements.
Datuk Kamalul Arifin Othman, Group Managing Director/Chief Executive Officer of PHB said, “I am happy to inform that as part of our effort to enhance our value to our unit trust holders and increase our service efficiency, we have appointed AmBank as the additional distribution channel to sell our AHB. This make our distribution channel to two banks. The first is Maybank. We believe the business relationship forged today renders a win-win situation for both organisations and will be a step forward in seeking more joint collaboration in other business opportunities.”
Dato’ Sulaiman Mohd Tahir, Group Chief Executive Officer, AmBank Group said, “I am pleased to announce that investors now have more options to invest in this fund as we are the second financial institution after Maybank to come on-board to promote this fund which was launched to investors last week.
This launch marks our first collaboration with PHB and Maybank Asset Management and we hope to continue this partnership with you with many more collaborations in future. At AmBank, we are keen to help individuals and businesses in Malaysia grow and win together.”
“The PG scheme has proven to be a success, not only in serving our business partner's needs, but also for SMEs with certainty in approval which is almost 100% due to the efficiency of the process flow as well as hassle-free online application submission," added Zamree.
Badrul Hisyam Abu Bakar, Chief Executive Officer of Maybank Asset Management, added, "We are confident that our partnership with AmBank is the right fit to be AHB’s second fund distributor after Maybank. Because much like us, they have a mission of connecting, growing and outperforming, which emphasises their commitment in connecting with investors. And together, when we combine our strength and coverage, we can definitely grow the business exponentially as the possibilities are limitless and exciting."
The Fund may appeal to investors who have long term investment horizon, seeking capital preservation, regular income and have a low risk tolerance. Its performance is benchmarked against the 12-month General Investment Account-i of Maybank Islamic Berhad. The price of a unit is fixed at RM1 and the minimum initial investment is RM100 and additional investment is RM50.
The fund is distributed at all 175 AmBank branches and AmBank Signature/Priority.