New Islamic Capital-Protected Fund, AMB Dana Aqeel

amb dana aqeel

Amanah Mutual Bhd (AMB), a wholly-owned subsidiary of Amanah Saham Nasional Bhd (ASNB), recently launched a 300-million unit Syariah-compliant fund. The fund called AMB Dana Aqeel Capital Protected.

The Shariah compliant close-ended fund will have a maturity period of three years and has a nominal value of 50 sen per unit.

The fund would invest a minimum of 85 per cent of its net asset value (NAV) in locally issued Islamic bond or sukuk to provide capital protection at maturity. The remaining 15 per cent of the fund’s NAV would be invested in a diversified portfolio of Shariah compliant equities for potential returns including cash equivalent instruments for liquidity of the fund.

The fund is benchmark against the 12-month close-ended general investment account rates of commercial banks which currently at 2.74 per cent.

The AMB Dana Aqeel is open to individuals, corporate as well as local and foreign institutions.

It is open for subscription for 45 days starting 9th March 2010 with a minimum investment of RM1,000 for individual investors and RM5,000 for corporate and institutions.

There is no limit imposed on the number of units to be purchased. However, investors are subjected to a minimum balance of 1,000 units.

The minimum additional investment for individual investors is set at RM500 while that of corporates and institutions is set at RM1,000 and there will be also be a cooling-off period of six business days for qualified investors.

AMB Dana Aqeel is available at AMB’s headquarters at PNB Building in Jalan Tun Razak and all ASNB and Maybank branches nationwide.

For more information kindly brpwse through AMB website.

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