KUALA LUMPUR, Oct 14 (Bernama) -- AmanahRaya Investment Management Sdn Bhd (ARIM) has temporarily suspended dealings in three unit trust funds under its management, namely, AmanahRaya Syariah Trust Fund (ARSTF), AmanahRaya Syariah Income Fund (ARSIF) and AmanahRaya Unit Trust Fund (ARUTF), effective yesterday.
In a statement, it said the suspension covers subscriptions, redemptions and switching into or out of the three funds, in accordance with applicable regulatory requirements to manage liquidity constraints amid increased redemption requests and heightened credit risk relating to certain investments.
This measure is intended to protect the interests of all unitholders and ensure fair and equitable treatment,” the statement said.
It also said that this will provide time to assess liquidity, review investment valuations and determine appropriate action, while reducing the need to sell assets at substantial discounts that could adversely affect the value of unitholders’ interests.
"ARIM continues to monitor the affected investments and to engage with the issuer, sukuk trustee and respective fund trustees. Investment valuations will be assessed in accordance with applicable policies, fund documents and regulatory requirements," it said.
ARIM is a wholly owned subsidiary of Amanah Raya Bhd, which is in turn owned by the Minister of Finance (Incorporated), Malaysia.
-- BERNAMA
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