KUALA LUMPUR: Prudential Fund Management Bhd (PFMB) has launched a new syariah-compliant equity fund, Prudential Dinasti Equity Fund (PRUdinasti), that leverages on the anticipated consumption growth in China.
The company said in a statement the fund would invest primarily in Greater China-based syariah-compliant equities listed on recognised exchanges in China, Hong Kong, Taiwan as well as other permissible exchanges such as Singapore, Malaysia and the United States.
PFMB chief officer of products and marketing Christopher Chan described this approach as a twin-pronged strategy that would enable investors to benefit from both ends – consumption surge within mainland China as well as potentially more favourable equity valuations of selected companies.
PFMB has also worked with Dow Jones Indices to create the Dow Jones Islamic Market Greater China Index, which will be used as a benchmark for the fund.
From left: Dow Jones AER Co Inc business development director Ariff Sultan, Christopher Chan and Prudential Corp Asia Islamic fund management regional head Mark Toh at the fund launch.
The Dow Jones Islamic Market Greater China Index is part of the unique Dow Jones Islamic Market index series that combines faith-based principles with investing.
PFMB said investors interested in seeking long-term capital appreciation through participation in syariah-compliant China equities would find this fund suitable for their portfolios.
“Correspondingly, these investors would have a high tolerance for risk and have a long-term investment horizon,” it said.
The fund has 100 million units available for subscription up to Nov 15 at RM1 per unit for a minimum investment of RM1,000.
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