Valuecap aims to expand group asset by year-end to RM7b

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KUALA LUMPUR, May 7 — Fund manager, Valuecap Sdn Bhd, aims to expand the group’s assets under management (AUM) to between RM7 billion and RM7.5 billion by year-end from the current RM5.2 billion.

The growth would come from its existing products, the newly launched MyETF SEA Islamic Dividend, as well as funds in the pipeline, said i-VCAP Management Sdn Bhd Chairman Wan Kamaruzaman Wan Ahmad.

As for i-VCAP, the target is to grow the AUM by 50 per cent from RM1.1 billion currently, he told reporters after MyETF SEA Islamic Dividend’s listing today.

i-VCAP, the subsidiary of Valuecap, and the only asset manager offering Islamic exchange-traded funds in Malaysia, is jointly-owned by Khazanah Nasional, Permodalan Nasional Bhd and Kumpulan Wang Persaraan.

At the opening bell, the shariah compliant MyETF SEA Islamic Dividend debut on the Main Market of Bursa Malaysia at RM1.005 a share, for a premium of half-a-sen, over its reference price of RM1.00. 

The company’s listing is the world’s first fully ASEAN Islamic ETF, which will track equities in markets including Malaysia, Indonesia, Thailand, Singapore and the Philippines. — Bernama 

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