Kuala Lumpur: CIMB-Principal Asset Management Berhad has announced a 50% increase for the size of two of its funds: the CIMB Islamic DALI Equity Growth Fund size is now 1.8 billion units and the CIMB Islamic Money Market Fund is 337.5 million units. Previously the fund sizes were 1.2 billion units and 225 million units respectively.
Chief Executive Officer, J. Campbell Tupling said: “This is a timely increase as the funds are able to meet the different needs of our investors in the current market condition. Some are keen to invest in current attractive valuations for the opportunity to further grow their investment, while others are re-strategising for their active return to the market.”
CIMB Wealth Advisors, the major distributor of CIMB Islamic DALI Equity Growth Fund, notes that there is good demand for the EPF-approved Fund due to its consistent out-performance of its benchmark.
“The Fund has been outperforming the FTSE Bursa Malaysia EMAS Shariah Index since its inception in May 1998. As at 31 May 2009, the 3-Year cumulative performance showed outperformance by 20.85%. It is also popular with EPF investors as they can eliminate the hassle of topping up from their own pockets and deduct directly from their EPF accounts instead, provided they have sufficient balance in their Account 1. Investors can consult any CIMB Wealth Advisors to check their latest balance in Account 1,” said Tan Beng Wah, Chief Executive Officer of CIMB Wealth Advisors.
The CIMB Islamic Money Market Fund serves as a convenient parking facility for investors to temporarily place their cash without compromising their accessibility to withdraw anytime without penalty. The Fund aims to provide investors with liquidity and regular income while maintaining capital stability by investing primarily in Shariah-compliant money market instruments.