AmInvest Unveils New Sukuk Fund, AmIncome Sofwah
AmInvest has unveiled its latest sukuk offering, AmIncome Sofwah (“Fund”), which aims to provide regular income via yearly income distribution.1 It invests principally in both local sukuk and Islamic money market instruments. AmInvest is the fund management brand under AmInvestment Bank.
Mr. Kevin Wong Weng Tuck, Principal Officer and Chief Investment Officer of AmIslamic Funds Management Sdn. Bhd., said, “After four successive cuts in 2020, the Overnight Policy Rate is at an all-time low of 1.75%. Interest rates are expected to remain low given the downside risks on Malaysian gross domestic product growth emanating from strict measures to contain the Covid-19 pandemic. The Fund provides an opportunity to potentially reap higher Shariah-compliant returns compared to a general investment account-i over the medium to long term.”
Ms. Goh Wee Peng, Chief Executive of AmInvest, added, “Against the backdrop of the prevailing low interest rate environment, the Fund is suitable for retail and institutional investors seeking higher yields. We will rely on our stringent Shariah-compliant investment process coupled with superior credit selection for the Fund’s sukuk portfolio by our in-house proprietary credit research unit to optimise returns for the Fund within acceptable risk boundaries.”
The Fund will be managed by AmInvest which has a solid track record of 40 years of investing experience. Most recently, AmInvest was named as the Best Bond Fund Family Group Over Three Years for the second year at the Refinitiv Lipper Fund Awards Malaysia 2021.2 This fund performance award was accorded for delivering consistently strong risk-adjusted performance relative to peers for the year ended 31 December 2020.2 AmInvest was also the recipient of the Best Investment Management Company, Malaysia award at the World Finance Investment Management Awards 2020, which recognises excellence in performance, service, leadership, consistency, targets and objectives.3
The Fund is offered for subscription at an initial offer price of RM1 per unit until 6 July 2021. For more details on the Fund’s features and risks, please refer to the AmInvest Prospectus for AmIncome Sofwah dated 16 June 2021 via www.aminvest.com.
Sources and Notes:
1 Subject to availability of income, distribution will be paid out at least once a year. The income can be in the form of cash (by telegraphic transfer) or additional units (by reinvestment into units of the Fund).
2 Refinitiv Lipper Fund Awards Malaysia 2021, March 2021.
3 World Finance Investment Management Awards, January 2021.