PMB Investment targeting RM1.9 billion AUM by year-end

KUALA LUMPUR: PMB Investment Bhd, which plans to launch a new fund to penetrate into the Asean equity market, is aiming to hit RM1.9 billion in terms of asset under management (AUM) for 2018.
As at February 28, 2018, its AUM stood at RM1.04 billion.
The fund manager is looking to step up its distribution and sales channels to hit its target in addition to attracting more government agencies under the Rural and Regional Development Ministry to invest with PMB.
On the new fund which is set to be launched at the end of this month, its CEO Najmi Mohamed said this will mark its first investment foray into the overseas equity markets such as Thailand, Indonesia, the Philippines and Singapore.
Meanwhile, PMB declared an income distribution of 12 sen per unit, equivalent to 8.85% dividend yield, for its PMB Shariah Growth Fund (PMB SGF). A total distribution amounting to RM4.1 million will be paid to 4,237 corporates and retail investors.
PMB SGF's fund size amounted to RM51.95 million as at end-February.