BUSINESS

MAYBANK SINGAPORE’S FIRST SHARIAH-COMPLIANT BALANCED FUND AIMS TO ACHIEVE MONTHLY DIVIDEND PAYOUT OF 5.0 PER CENT PA

14/10/2021 02:57 PM

By Massita Ahmad

SINGAPORE, Oct 14 -- The newly-launched Singapore’s first Shariah-compliant balanced fund by Maybank Asset Management Singapore (MAMS) aims to achieve a potential monthly dividend payout of 5.0 per cent per annum.

Named Maybank Asian Growth and Income -- Islamic Fund, it is also targeted an annual return of 6.0 per cent to 7.0 per cent by taking an active asset management approach.

The new Islamic Fund, provides investors a unique mix of securities across Shariah-compliant Asian stocks, global Sukuks, as well as gold exchange-traded funds (ETFs).

“In line with Maybank’s mission of Humanising Financial Services, we strive to be financially inclusive and innovative,” MAMS chief executive officer Goh Keat Jin said in a statement here.

The launch of the fund is an extension of Maybank’s efforts to expand its suite of wealth management solutions to investors, said Goh, adding that “this includes serving the wealth accumulation objective of the Islamic communities in Singapore, Malaysia, and Indonesia.”

“Our Fund adheres to Shariah principles and is suitable for investors seeking ‘halal’ returns or looking to diversify their portfolios in new markets. It is catered to socially responsible investors who wish to invest in Shariah-compliant activities,” he said.

According to MAMS, while Singapore has seen growth in conventional wealth management solutions, it has lagged in its offerings for Islamic investment solutions.

Citing a survey conducted by the Financial Alliance’s Islamic Wealth Advisory (FAiWA), MAMS said it has shown that over 80 per cent of participating Muslim investors would prefer Shariah investment solutions if they are available.

Besides benefitting the Islamic community in Singapore, ethically focused Islamic investments will also serve the wealth management needs of investors who want to advocate socially responsible investing or champion Environmental, Social, and Governance (ESG) investing, it said.

Contrary to the belief that Shariah investments offer limited potential returns as it is restrictive in scope, MAMS highlighted that a recent market comparison of the Shariah universe of global stocks (DJIM World Index) versus the conventional stock universe (MSCI AC World Index) shows that “the global Islamic equity index outperforms the broader global equity index by 56 per cent over a 10-year period and 31 per cent over a five-year period.”

In 2019, Maybank Asset Management successfully launched the Global Sukuk Income -- Islamic Fund which has a fund size of about S$60 million today.

The new Maybank Asian Growth and Income -- Islamic Fund is distributed through Maybank Singapore and will be made available to other platforms.

The minimum investment sum is S$1,000, and sales charge and fund manager fees apply.

MAMS is a unit of Maybank Asset Management Group Bhd (MAMG) and is owned by Malayan Banking Bhd (Maybank) and Permodalan Nasional Bhd (PNB).

MAMG’s Asset Under Management stands at US$8.3 billion as at Aug 31, 2021.

-- BERNAMA

 


BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.

Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial

© 2024 BERNAMA   • Disclaimer   • Privacy Policy   • Security Policy