BIMB Investment launches big data and fintech fund with UK partner

PETALING JAYA: BIMB Investment Management Berhad has launched a fund that invests in big data and finance technology companies in Asia-Pacific, with its strategic partner Arabesque Asset Management Holding Ltd, UK.
The BIMB-Arabesque Asia-Pacific Shariah-ESG Equity Fund is the first Shariah and Environmental, Social and Governance (ESG) compliant fund in Malaysia, that uses ESG information with big data analytics capabilities.The target fund size is RM100 million over a one-year period.
Big data analytics is used to process more than 100 billions of data points in evaluating and analyzing 7,500 listed stocks in the Asia Pacific region to identify the best 140 stocks on a quarterly basis.
BIMB Chairman Nik Mohd Hasyudeen Yusoff said the fund is the first of its kind to implement a unique quantitative, rule-based, technology in Shariah-compliant equities by integrating ESG sustainability analysis with financial analysis that has certainly fulfill the diverse needs of clients with the right products, returns and seamless fund management processes across asset classes.
BIMB Invest’s asset under management (AUM) has grown 118.21% to RM2.23 billion as at Dec 31, 2017.
Arabesque Partners' CEO Omar Selim said, “Our new fund complements our existing Global and Malaysia products, and provides investors with comprehensive portfolio solutions. The portfolio construction process is based on our proprietary, rules based, assessment of companies’ sustainability and financial performance. The objective of the Fund is to provide investors with sustainable long-term capital growth while directing capital to better companies.”
The fund is offered for subscription in the ringgit and US dollar at RM0.25 and US$0.25 (RM0.98) per unit respectively, for 21 calendar days during the initial offer period, from Jan 19, 2018 until Feb 8, 2018. The minimum initial investment required for the Fund is RM500 or US$500.
It can be subscribed from any Bank Islam branches nationwide, BIMB Invest’s Unit Trust Consultants, Phillip Mutual and KenWealth by Kenanga. It is also available for online purchase at www.fundsupermart.com.my, www.ifastcapital.com.my and www.eunittrust.com.my.