4 days ago
- Business
- New Straits Times
RHB Asset Management eyes RM100mil sales from new Shariah multi-asset fund
KUALA LUMPUR: RHB Asset Management Sdn Bhd is targeting RM100 million in sales within the first year of its newly launched RHB Shariah Multi Asset Fund.
The fund offers investors an all-in-one shariah-compliant solution providing global diversification across a range of asset classes, including equities, listed real estate, sukuk and commodities.
RHB Asset Management said in a statement that the new fund will primarily invest in the US dollar-denominated share class of the HSBC Global Funds ICAV – Shariah Multi Asset Fund, the target fund, which strategically allocates investments across a broad spectrum of instruments.
"This includes equities, fixed income securities, eligible collective investment schemes, other transferable securities, cash, and foreign direct investments.
"This initiative is a direct response to the growing demand for shariah-compliant investment solutions, particularly within the global multi-asset space," it said in a statement.
RHB Asset Management said the launch is in collaboration with HSBC Bank Malaysia Bhd. The bank will serve as the initial distributor while HSBC Global Asset Management (UK) Ltd will act as the target fund manager.
The collaboration and product launch with HSBC Bank demonstrates its agility in meeting evolving investors' needs and increasing awareness of its diverse range of shariah-compliant investment offerings, the statement said.
At the same time, RHB Asset Management emphasised that the initiative is expected to strengthen its brand recognition, deepen relationships with existing investors, capture new investor segments, and drive growth in assets under management for shariah-compliant funds.
