KUALA LUMPUR, Feb 4 — Principal Asset Management Bhd has launched the Principal Islamic Asia Pacific Dynamic Income and Growth Fund to provide quarterly income by tapping into opportunities in the Asia-Pacific ex-Japan region.

In a statement today, chief executive officer Munirah Khairuddin said the Asia-Pacific region offers attractive growth value and diversification for investment portfolios.

"The fund provides investors with medium to long-term investment horizon and an opportunity to capitalise on the region’s strong potential upside.

"As one of the largest shariah-compliant asset managers in the world and a leader in the market, Principal Asset takes stock of our investors’ sentiment and appetite as we continue to push ourselves ahead of the curve,” she said.

The company said the new fund aims to emulate its conventional parallel, the Principal Asia Pacific Dynamic Income Fund, which has an award-winning track record and a 20.33 per cent year-to-date performance, by targeting to achieve positive returns over a rolling period of three years.

It added that the fund will invest in the target fund, the Islamic Asia Pacific Dynamic Income and Growth Fund which is registered in Dublin, Ireland under the European Union’s Undertakings for Collective Investment in Transferable Securities platform. — Bernama