PETALING JAYA: Principal Asset Management Bhd has launched the Principal US High Conviction Equity Fund for investors who are seeking an opportunity to invest in US high growth companies with potentially massive impact on the long-term, focused on innovation and disruption sectors.
Principal Asset Management CEO Munirah Khairuddin said the fund allows investors to invest in US companies with strong potential to become titans in the industry.
“The fund allows investors to participate in these rapidly growing companies, as they develop into future winners. At a time of global recovery, these companies include many direct beneficiaries of the broad economic progress and improved market breadth.
“The fund provides strategic medium to long-term diversification and can further enhance investors’ portfolios. The average market capital of the companies in the fund is US$3.6 billion (RM15 billion), which is equivalent to large cap companies in Malaysia. Therefore, investors seeking to diversify their portfolio with global exposure and potential high returns in the medium to long-term, Principal US High Conviction Equity Fund is a fund for their consideration,” she said in a statement today.
Principal Asset Management is a part of Principal Financial Group, a global asset manager and solutions provider that has expertise in retirement, asset allocation, emerging markets, serving business, and retail investors in Asia, Australia, Europe, Latin America, Middle East and North America. Driven by acute stock selection capability, the fund is managed by a team with specialised expertise in companies with market capital of less than US$30 billion and more than US$30 billion.
Principal Asset Management appointed Principal Global Investor (PGI), an entity owned by Principal Financial Group incorporated in the USA, as the sub-manager. PGI is responsible for the investment management function of the fund in accordance with the fund objective.
The fund will invest a minimum of 70% of the its net asset value into equities and other equity related securities and the balance in money market instruments and/or deposits. Designed as a growth fund, it has a multi-class structure of four share classes: Class MYR, Class MYR-Hedged, Class SGD, and Class USD. The fund will be priced with an initial offer of RM1.0000, RM1.0000, S$1.0000, and US$1.0000 per unit, respectively.
