Asian Islamic Investment Management Sdn Bhd (AIIMAN), an Islamic fund management company, aims to breach the RM6 billion mark in assets under management (AUM) by year-end.
Its chief executive officer and executive director Akmal Hassan said the group's AUM grew 20 per cent per year.
"We achieved RM5.6 billion in AUM as at Jan 31, 2013 against RM2.8 billion on Jan 31, 2012," he told reporters after the launch of Hwang AIIMAN Select Income Fund (AIIMAN SIF).
He said the company also aimed for the new fund to achieve RM100 million in net asset value (NAV) within three months following its launch.
Akmal said the fund, the group's first new fund for this year, aimed to deliver HWANGIM's trademark performance with low volatility rate whilst providing steady income distribution.
He said the AIIMAN SIF is for foreign investors who seek stable returns and regular income through investing in prudently selected sukuks and quality dividend yielding equities.
"Its investment strategy will emulate the strong performance of the Hwang Select Income Fund, which has successfully and consistently charted eight per cent returns per annum for the past seven years," said Akmal.
Targeted at investors with moderate risk appetite, the fund will invest a minimum of 60 per cent of NAV in sukuk and Islamic money market instruments and a minimum of 40 per cent in Shariah-compliant equities.
The fund's investment in sukuk would consist of local and foreign-issued sukuk by government and companies.
The fund has an offer period of not more than 21 days, starting from March 1 until March 21, 2013 at RM0.50 per unit. The minimum initial investment is RM1,000 and the minimum additional investment is RM100.
The fund is distributed and are available at HSBC (Malaysia) Trustee Bhd.
AIIMAN, a joint-venture between Singapore's Nikko Asset Management Asia Ltd and Hwang-DBS (Malaysia) Bhd, offers local institutional clients with Shariah investment solutions that focus on Asian equities and global sukuk.-- Bernama