PETALING JAYA: Public Bank’s wholly owned subsidiary, Public Mutual, today launched its latest fund, the Public e-Wholesale Sustainable 20 Fund (PeWS20F).
PeWS20F is the first wholesale fund to be offered as part of the Public e-Series of funds aiming to achieve capital growth over a long-term period by investing in shares of companies listed on global markets and related to sustainability issues Environment, Social and Governance (ESG) into account. factors in their business practices.
Public Mutual CEO Yeoh Kim Hong said that PeWS20F will adopt a concentrated portfolio by focusing on a maximum of 20 stocks, with exposure to a single stock of up to 20% of the fund’s net asset value (NAV).
“This strategy allows the fund to take concentrated positions in selected companies with positive long-term prospects and stable earnings growth,” she said.
The Fund invests 75% to 98% of its NAV in equity and equity-related securities worldwide, with the balance invested in fixed income securities and cash.
The fund is specifically designed for sophisticated investors who are interested in sustainable investing and can tolerate higher volatility in the fund’s returns in the pursuit of long-term capital growth. An experienced investor refers to any person who falls into one of the categories of investors set out in Part 1 Schedule 6 and 7 of the Capital Markets & Services Act (CMSA) 2007. This includes, but is not limited to, individuals with a gross annual income of more than RM300,000 or RM400,000 (together with their spouse) in the previous 12 months.
It is also available online only through its Public Mutual online platform with minimum initial and additional investment amounts of RM5,000 each and an initial charge of between 2% and 3.75% of the NAV per share. The initial offering price for PeWS20F will be RM1 per share during the 21 day initial offering period from 5th to 25th July.
Public Mutual is Malaysia’s largest private mutual fund company with more than 160 funds under its management. It is also an accredited Private Retirement Scheme (PRS) provider and manages nine PRS funds. It has a total of 31 branches and customer service centers nationwide.