PRINCIPAL ASSET LAUNCHES FUND FOCUSING ON NEXT-GENERATION CONNECTIVITY

KUALA LUMPUR, Jan 16 -- Principal Asset Management Bhd today launched Principal Next-G Connectivity Fund, which will be initially distributed exclusively through Standard Chartered Bank branches nationwide. 

The fund aims to help investors achieve capital appreciation through exposure in portfolio of global equity holdings, focusing on companies that are involved or derive benefit from next-generation connectivity, it said in a statement today.

Principal Asset Management chief executive officer Munirah Khairuddin said investors who seek medium to long-term capital appreciation would be able to benefit through the Principal Next-G Connectivity Fund in line with the progress in the technology sector.

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“We are committed to leading the way for consumers to achieve their financial goals through a fund that provides  the potential for long-term gains,” she said in a statement today. 

The fund will invest at least 95 per cent of its net asset value in a portfolio of best-in-class companies with sustainable advantages around the world, and which have at least 50 per cent of their future earnings growth driven by 5G. 

Leveraging on the strong industry expertise of Neuberger Berman Europe Ltd, the fund seeks to identify hidden gems of 5G using a research-intensive, bottom-up approach.

“I believe technology will continue to be a dominant and central theme in the market. Globally, connectivity in technology has allowed approximately six billion people to connect with one another. With the rise of 5G networks and the Internet of things, we are looking at exponential growth potential,” said Munirah.

-- BERNAMA