PBSN expects new equity fund to hit RM200m in 3 years

KUALA LUMPUR (Sept 12, 2012): Permodalan BSN Bhd (PBSN), which launched its new trust fund BSN Dana Dividend Al-Ifrah today, expects the fund to reach RM200 million in three years, said its executive director and CEO Kamarul Izam Idrus.

Source from (The Sun Daily): http://www.thesundaily.my/news/488325
Published: September 13, 2012

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"Al-Ifrah has a fund size of 800 million units priced at 25 sen per unit and will invest in stocks that have the potential to pay at least 3% annual gross dividends," he said at the launch of the fund.

Investors who pursue regular income will find this fund attractive as it potentially offers medium- to long-term (three to more than five years) capital appreciation.

"Al-Ifrah will have high equity exposure by investing a minimum of 70% of the net asset value in syariah-compliant equities listed on Bursa Malaysia," Kamarul said.

He said dividend stocks have proven to be resilient during the economic downturn and at the same time to be rewarding in terms of capital appreciation over the long term.
The minimum initial investment is RM500.

Al-Ifrah is the third fund established and managed by PBSN, after Amanah Saham Bank Simpanan Nasional which was launched in 1995 and BSN Dana Al-Jadid in 2008. As at Aug 31, 2012, its assets under management stood at RM145.7 million.