AmInvest aims 20-21pc growth in AUM

AmInvest aims to achieve about 20 to 21 per cent growth in assets under management (AUM) by year-end, AmInvestment Services Bhd Director (Retail Funds Management) Ng Chze How said today.

He said the group recorded above 19 per cent AUM growth last year.

"We achieved RM32.6 billion as at January 31, 2013 under AUM from RM27.4 billion in January 31, 2012," he told reporters today.

Ng said the driving factors for AUM growth will be group funds performance, innovative products and positive outlook of the global economy.

"We are optimistic to achieve the target growth as the country's gross domestic product is growing on par with other regional countries such as Hong Kong, Taiwan and Singapore," he said.

He said the group launched 21 products last year and this year, the plan is to launch about 10 to 15 new funds.

Earlier, AmInvest Chief Executive Officer Datin Maznah Mahbob launched the AmAsia Pacific Leisure Dividend by AmInvest, an income and growth fund.

Maznah, who launched the group's first new fund this year, said the fund aimed to provide regular income and to a lesser extent, capital appreciation over the medium-to-long-term by investing in equities and equity-related securities of the leisure industry across the Asia-Pacific region.

She said the leisure sector was always in demand.

"Despite the ups and downs of the market cycle, the leisure sector, which is synonymous with the pursuit of a good time, will continue to be resilient.

"Leisure sector stocks in the Asia-Pacific have outperformed the MSCI AC Asia-Pacific ex-Japan index by 79 per cent, with 226 per cent returns since 2009," she said.

With the interest rate poised to remain low, leisure sector stocks are expected to perform well with its consistent track record of dividends payout that would help investors navigate through volatile times, she said.

"Investors in the fund can expect the net yield of about four per cent annually from the fund," she said.

The fund has an offer period of 21 days, from February 25 until March 17, at the price of 50 sen per unit. The fund has an approved fund size of 200 million units.

To date, AmInvest markets 81 unit trust funds, encompassing both conventional funds and Shariah-compliant funds.-- Bernama