KUALA LUMPUR: PMB Investment Bhd, an Islamic fund management company under Pelaburan Mara Bhd, has set a target to increase fund sales by 10-20% within the next year after entering into a partnership with Bank Islam Bhd.
PMB Investment acting chief investment officer Hang Tuah Amin Tajudin said the collaboration with Bank Islam introduces five new funds, leveraging the lender’s network of 135 branches to cater to a broad customer base, from retail investors to affluent clients.
“These funds are designed to be inclusive. Our goal is to make these investment opportunities accessible to everyone, from mass-market customers to high-net-worth individuals,”Hang Tuah said at their memorandum of understanding (MoU) signing ceremony recently.
He said the five funds launched through the partnership include PMB Investment’s high-performing Shariah Index Fund and Shariah Equity Fund, both of which have garnered industry accolades.
“These are among our top 19 funds. We are optimistic that their appeal will attract more investors to Bank Islam, helping us reach our one-year growth target,” Hang Tuah said.
Bank Islam wealth management division director Zaharah Muttalib said after acknowledging the competition from fintechs, Bank Islam sees value in its personal approach, particularly for new investors. “Many first-time investors still seek in-person guidance, making branch visits beneficial. However, we anticipate that more experienced investors will adopt digital channels, and we are preparing to support that shift.”
To encourage retail participation, she said, the initial investment entry for these funds is set at RM1,000, with subsequent investments beginning at RM500.
“Our primary distribution channel will be our branches, where relationship managers and personal bankers can engage directly with customers,” she noted, underlining the importance of face-to-face interactions.
While both institutions recognise the growing influence of digital channels, their current focus remains on physical branches.
“Our business is largely physical for now. We aim to have our online platforms ready within a year,” said Zaharah.
Meanwhile, PMB Investment has appointed Bank Islam as an Institutional Unit Trust Adviser (IUTA) to promote and distribute the fund management company’s unit trusts across Malaysia
As the eighth IUTA in PMB Investment’s distribution network, Bank Islam will leverage its extensive branch network to market and distribute five PMB Investment unit trust funds of PMB – Dana Al-Aiman, PMB Dana Bestari, PMB Shariah Index Fund, PMB Shariah Equity Fund and PMB Shariah Cash Management Fund.
The MoU signing ceremony was witnessed by PMB Investment chairman Datuk Mohd Idzwan Izuddin Ab Rahman and Bank Islam group chief business officer Mizan Masram.
Mohd Idzwan said that under the collaboration, Bank Islam will contribute to PMB Investment’s asset under management target of RM2 billion in 2025.
