Hot on the heels of launching its Asia-Pacific fund last month, AmIslamic Funds Management, the Shari'ah-compliant investment subsidiary of Malaysia's AmBank Group, has launched the AmASEAN Equity fund.
The new fund will target medium- to long-term capital growth by investing in a portfolio of equities in the ASEAN markets with specific focus on the markets of Indonesia, Malaysia, Singapore, Philippines and Thailand, known as the ASEAN 5. (source)
Mohamed Fauzi Mohamed Tahir, AIFM's head of equities said: "These regions have a strong projected underlying growth... According to the IMF, the ASEAN-5's projected growth of 5.1% will outperform developed markets such as the US (2.9%) and Europe (1.8%) in 2012."The fund has an offer period to June 26, 2011 and is denominated in Ringgit, but can be purchased in Singapore and US Dollars by global investors.
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