Manulife launches shariah-compliant flexi fund

KUALA LUMPUR, July 9 —Manulife Asset Management Services Bhd has launched the Manulife Investment-ML Shariah Flexi Fund, the sixth fund in the company’s award-winning Flexi Series of unit trusts.

In a statement, the company said the new Islamic mixed-asset growth fund seeks to provide long-term capital appreciation of at least five years to investors by investing in a diversified portfolio of Shariah-compliant equities, sukuk bonds and Islamic liquid assets.

“The fund adopts a flexible asset allocation strategy under which our investment professionals draw on their expertise to adjust exposure to asset classes and investment markets as necessary, taking this responsibility out of the hands of individual investors,” Manulife Chief Executive Officer and Executive Director Wong Boon Choy said.

The new fund’s flexible asset allocation strategy allows it to invest up to 98 per cent of its net asset value (NAV) in a single asset class of Shariah-compliant equities.

However, when the fund manager expects a bearish equity market, up to 100 per cent of the NAV could be shifted to Shariah-compliant fixed income instruments.

Manulife Chief Investment Officer Jason Chong said the fund is an all-weather approach that has the potential to deliver equity capital gains during market upturns while having the potential to generate income amid a downturn.

“The fund is the first Shariah-compliant fund in the Flexi Series that may invest up to 30 per cent of its NAV in Asia Pacific, thus it could be an efficient way for investors to add geographical diversification to their portfolios and benefit from returns opportunities in regional markets,” Chong said.

The initial offer price of the fund is 25 sen per unit and runs until July 20, 2015.

The minimum initial investment is RM1,000 and the minimum additional investment is RM100. — Bernama

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