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Last Updated: Sep 25th, 2006 - 11:36:04 |
AMANAHRAYA Unit Trust Management Sdn Bhd (ARUTM) expects its first two unit trust funds, with a combined size of RM1 billion units, to be fully subscribed in three to four months' time.
The two funds of RM500 million each - AmanahRaya Unit Trust Fund (conventional) and AmanahRaya Syariah Trust Fund (Islamic) - made their debut yesterday and are initially priced at RM1 per unit.
Both funds will invest primarily in the bond market and Syariah-approved instruments respectively, with expectations on returns to at least exceed 5 per cent per year, said ARUTM chief executive officer Roslan Harun.
"We are quite confident on yielding good returns as the fund will invest in debt instruments rated at least A by the Rating Agency of Malaysia and/or Malaysia Rating Corporation and money market instruments rated at least P2 by the two rating agencies," he said.
Only about 10 per cent will be invested in the Malaysian equity market, Roslan told reporters after the launch of the funds by Minister in the Prime Minister's Department Datuk Seri Mohd Nazri Aziz in Kuala Lumpur yesterday.
The funds are targeted at investors who prefer moderate to low risk investments. The initial investment is RM500 while additional investment requires a minimum of at least RM100.
Roslan said a few more trust funds are expected to be launched by ARUTM by the year-end, including an equity fund, two money market funds (one conventional and one Syariah-compliant), and two global conventional and Islamic funds.
"We have submitted our proposal for the equity fund to the Securities Commission and will soon submit the applications for the other funds," he said.
ARUTM is a newly-incorporated company and a wholly-owned subsidiary of Amanah Raya Bhd, a trustee company which is fully-owned by the Government.
Meanwhile, Amanah Raya chairman Datuk Dusuki Ahmad in his speech said there is a huge potential for unit trust companies to promote their investment funds as the savings rate in the country is quite high at 37 per cent of the gross domestic product.
As at end-2005, more than RM750 billion worth of assets were already in the market for investors to put their money in.
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