CIMB to increase Islamic fund
The Securities Commission approved the increase of CIMB Islamic DALI Equity Theme Fund from two billion to 2.2 billion units.
"The local market has shown a considerable amount of resilience especially with the government stimulus packages, which has helped cushion the impact of the global economic turmoil. To date, the CIMB Islamic DALI Equity Theme Fund size has been increased four times to meet the overwhelming demand," said Campbell Tupling, Chief Executive Officer of CIMB-Principal Asset Management Berhad.
CIMB Wealth Advisors, the major distributor of CIMB Islamic DALI Equity Theme Fund, noted that the good demand for the Fund is due to its sector diversification. The Fund seeks to provide investors with medium to long term capital appreciation by investing in Malaysian securities according to prevailing investment themes. It currently favours the oil and gas, and manufacturing sectors.
"This Fund size increase is timely as we have increasing demands from investors who are keen to add domestic equities to their portfolio as part of their core asset allocation strategy. We are confident that the Fund will continue to prove popular with investors and they can consult any CIMB Wealth Advisors consultants to help determine their risk portfolio," said Tan Beng Wah, Chief Executive Officer of CIMB Wealth Advisors.
