Eastspring to tap Asean market with al-Adiil
EASTSPRING Investments Bhd has launched the Eastspring Investments Asean al-Adiil Fund, a syariah-compliant product that offers Malaysians new investment frontiers in the region.
The company is bullish on investment opportunities in the Asean market, given its strong gross domestic product of US$2.3 trillion (RM7.2 trillion).
Chief executive officer Lynn Cheah Lee Ling said the region offers sustainable long-term growth prospects with its wealth of natural resources and favourable demographics.
Eastspring is part of Prudential Corp Asia and has RM22 billion in assets under management.
Cheah said the Asean al-Adiil Fund is aimed at retail investors with a medium risk parameter.
Eastspring will invest the fund's net asset value in Islamic equities, sukuk and Islamic liquid assets in the Asean market.
"Syariah-compliant funds are a good alternative as they are more resilient and less volatile over the medium to longer term," she said at a press conference after the launch of the fund, here, yesterday.
Eastpring's chief investment officer Chen Fan Fai, who was present at the launch, said the al-Adiil fund will invest in sectors such as building materials, construction, hospitality, medical tourism, consumer and natural resources.
"The Asean market will be a significant economic bloc and act as one marketplace, making the region more attractive for foreign direct investments," he said.
With a minimum RM1,000 investment, investors can buy the fund at 50 sen a unit during the 21-day offer period ending November 18.