AIA PAM declares distribution of RM2 mln for Islamic moderate fund

Bernama
January 20, 2017 17:55 MYT
AIA Bhd, the holding company of AIA PAM, said the fund was one of the biggest Islamic balanced private retirement funds in the industry with RM110 million of assets under management (AUM). - Filepic
AIA Pension & Asset Management Sdn Bhd (AIA PAM) has declared a distribution of RM2 million for its AIA PAM Islamic Moderate Fund.
AIA Bhd, the holding company of AIA PAM, said the fund was one of the biggest Islamic balanced private retirement funds in the industry with RM110 million of assets under management (AUM).
"As at Jan 17, 2017, the net asset value (NAV) per unit of the fund was RM1.1379," it said In a statement today.
AIA PAM Islamic Moderate Fund invests in Shariah-compliant equities with potential for growth and those trading below their fair values.
The fund also invests at least 40 per cent of its NAV in sukuk and Islamic money market instruments with a minimum credit rating of "BBB3" or "P2" by RAM or an equivalent rating by MARC.
AIA PAM General Manager, Ng Chze How, said the company would remain focused on accumulating good undervalued opportunities for long-term growth for its members.
AIA PAM has an issued and paid-up share capital of RM48 million and is a wholly-owned subsidiary of AIA Bhd.
As at Nov 30, 2016, it has an overall AUM of RM375 million comprising mainly private retirement scheme (PRS) and separately managed retirement funds.
AIA PAM is one of the top three PRS providers in Malaysia in terms of AUM. - BERNAMA
#AIA Bhd #AIA Islamic Moderate Fund #AIA Pension & Asset Mnagement Sdn Bhd
;