PETALING JAYA: Public Bank wholly owned subsidiary Public Mutual today launched its latest fund, the Public e-Wholesale Sustainable 20 Fund (PeWS20F).
PeWS20F is the first wholesale fund offered under the Public e-Series of funds aimed at achieving capital growth over the long-term period by investing in stocks of companies listed on global markets which incorporate sustainability considerations which is environmental, social and governance (ESG) factors into their business practices.
Public Mutual CEO Yeoh Kim Hong said 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 resilient earnings growth,” she said.
The fund will invest 75% to 98% of its NAV in equity and equity-related securities globally, with the balance to be invested in fixed income securities and liquid assets.
The fund is specifically designed for sophisticated investors who are interested in sustainable investments and are able to endure a higher volatility of fund returns in pursuit of capital growth over the long term. A sophisticated investor refers to any person who falls within any of the categories of investors set out in Part 1, Schedules 6 and 7 of the Capital Markets & Services Act (CMSA) 2007. These include, but are not limited to, an individual with a gross annual income exceeding RM300,000 or RM400,000 (jointly with his or her spouse) in the preceding 12 months.
Additionally, it is available exclusively online via its Public Mutual Online platform with minimum initial and additional investment amounts of RM5,000 each and a sales charge of 2% to 3.75% of NAV per unit. The initial issue price for PeWS20F is RM1 per unit during the 21-day initial offer period from 5-25 July.
Public Mutual is Malaysia’s largest private unit trust company with more than 160 funds under its management. It is also an approved Private Retirement Scheme (PRS) provider, managing nine PRS funds. It has a total of 31 branches or customer service centres nationwide.
