As highlighted during 2011 Budget, Prime Minister of Malaysia recently launched Amanah Hartanah Bumiputera (AHB) investment fund. AHB is managed by Pelaburan Hartanah Bhd (PHB) and has the fund size of 1 billion units. The fund size will be increased by another 500 million units next year.
AHB is a syariah compliant unit trust scheme and it would enable Bumiputera investors to own real estate assets with a minimum investment of RM500 and maximum of RM200,000.
Subsequently, additional investment can be done in multiple of RM100. For withdrawal, investors are allowed to do it once a month with minimum amount of RM500. Minimum account balance is RM500.
It is open to Bumiputera above three months of age, with investors below the age of 18 requiring a Malaysian legal guardian signatory.
The unit trust is a fixed price fund and will be sold at RM1 a unit. Bumiputera who are interested to participate in the scheme can go to Maybank branches nationwide to buy the AHB units.
The fund’s returns should be similar to that of Grade A buildings in the Golden Triangle, which would be not less than 6%. The company’s financial year ends on Sept 30, 2011, and the income distribution will be done twice a year.
The fund’s underlying assets are CP Tower in Petaling Jaya, 26 Boulevard in Putrajaya, Wisma Consplant in Subang Jaya, Tesco Setia Alam and Industrial Complex in Shah Alam.
PHB has seven completed assets in its portfolio. The two buildings not injected into the fund are Menara Bumiputra Commerce in Jalan Raja Laut, Kuala Lumpur and PHB’s head office, Peremba Square, in Saujana Resort.
AHB would focus on investments in beneficial ownership of real estate which provide stable income and yield-accretive real estate.
More details on AHB are available in Maybank website.
Read FAQ by PHB