Aiiman sets assets under management target of RM6b
KUALA LUMPUR: Islamic fund management company Asian Islamic Investment Management Sdn Bhd (Aiiman) 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 has been growing by 20 per cent a year.
"We achieved RM5.6 billion in AUM as at January 31 2013, against RM2.8 billion on January 31 2012," he told reporters after the launch of Hwang Aiiman Select Income Fund (Aiiman SIF) here yesterday.
He said the company is aiming 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's for the year, is aimed at delivering Hwang Investment Management Bhd's (HWANG IM) trademark performance with low volatility rate while providing a 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 emu-late 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 mo-derate 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 syariah-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 last Friday to March 21 at RM0.50 per unit. The minimum initial investment is RM1,000 and the minimum additional investment is RM100.
The fund is distributed and is 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 syariah investment solutions that focus on Asian equities and global sukuk. Bernama