PMB Investment on track to manage RM2 billion assets under management

28 Jun 2022 07:07pm

Mahdzir witnessed the signing ceremony between PMB and Evergreen Corporate in conjunction with its 55th anniversary celebration and the launch of PSGCEF fund today. Photo: BERNAMA

KUALA LUMPUR - PMB Investment Bhd (PMB Investment), a subsidiary of Pelaburan Mara Bhd (Pelaburan Mara) is on the right track to achieve its total assets under management (AUM) with a target of RM2 billion by 2023.

PMB Investment Chief Executive Officer Mahani Ibrahim said the target was based on the latest funds planned to be introduced this year and 2023.

"Our target on AUM is RM2 billion within in the upcoming year, (and) looking at the previous success, I believe we can achieve this," she said after launching PMB Shariah Greater China Equity Fund (PSGCEF) today.

Mahani said, through this fund, PMB Investment aims to collect around RM20 million within the first three months.

"We expect our target to hit more than 20 million after the launch of PSGCEF.

"I believe with the help and collaboration with United Overseas Bank (UOB) Kay Hain, we can succeed in our target," she said.

PSGCEF, which was PMB Investment's third shariah investment fund targeting overseas markets, chose China because the company does not have funds targeting this region.

PSGCEF is the 19th PMB investment fund, and it was suitable for investors with high levels of risk and who wanted to gain profit in the medium or long term through various shariah investment portfolios listed on the DJIM Greater China Index (DJIM-Dow Jones Islamic Market), covering the Mainland China, Hong Kong regional market, Taiwan and Macau.

PSGCEF's investment strategy was to invest between 70 per cent to 99.5 per cent of its net asset value in shariah-compliant equities and equity-linked securities listed in Mainland China provincial exchange and not only limited to the DJIM Greater China index.

Meanwhile, Rural Development Minister Mahdzir Khalid who had earlier officiated the launch said PMB had performed well and was on the right track in making investments either locally or internationally.

"I can see that PMB is aggressively entering the investment market with good products and gets good organisers such as UOB)to help them.

"Personally, I have certain goals in PMB investment where I'm hoping it to be comparable with other great asset managements," he said.

Today, Pelaburan Mara marked its 55th anniversary which was celebrated at the Shangri-La hotel, here.

The event also saw PMB Investment signed an agreement, appointing UOB Kay Hian Securities (M) Sdn Bhd as Institutional Unit Trust Advisor or IUTA (Institutional Unit Trust Advisor) to be the distribution channel and market all PMB Investment products.