Manulife Asset Management Services Berhad unveils Shariah fund

It aims to provide diversified Shariah-compliant equity opportunities for investors.

Manulife Asset Management Services Berhad unveiled Manulife Investment Shariah Progress Plus Fund, a fund designed for investors seeking diversified Shariah-compliant equity opportunities in APAC.

The fund can invest up to a third of its net asset value in Shariah-compliant equities from regional economies like Malaysia, Australia, China, Hong Kong, Indonesia, New Zealand, Philippines, Singapore, South Korea, Japan, Taiwan, and Thailand, according to a press release.

“The new Manulife Investment Shariah Progress Plus Fund is designed to provide investors access to the vast Islamic equity investment opportunities in the region’s small to medium sized companies,” said MAMSB CEO Jason Chong.

The fund also emphasises small and mid-cap companies with high growth potential and attractive valuation.

“By offering a Shariah-compliant unit trust investment option with expanded geographical exposure, whilst sharing similar characteristics with our existing Manulife Investment Shariah Progress Fund, MAMSB demonstrates flexibility in responding to changing market needs and growing demand from investors with different investment and risk appetites,” added Chong.

The minimum initial investment is $255 (RM1,000) whilst minimum additional investment is set at $127.71 (RM500). The fund will be priced at $0.064 (RM0.25) per unit during the initial offer period from April 13 to May 3.