New Fund: Avenue CARE Fund
On 18th March 2011, Avenue Invest Berhad, a member of the ECM Libra Group, launched the Avenue Canada Australia Resources Economies (CARE) Fund. CARE fund seeks to achieve capital growth over a medium to long-term period by investing primarily in securities of companies in Australia and Canada . The fund may also invest in equities and equity-related securities, fixed income securities, structured products and money market instruments. Why Australia and Canada? Due to their resource-based economies , the manager views Australia and Canada as two of the best-positioned countries in the developed world to benefit from the rapid growth of emerging economies such as China. Both economies have emerged largely unscathed from 2008's global financial crisis and are now buoyed by the resurgence of their resource-based industries. How to achieve the fund's objective? Generally, the fund will invest at least 70% of its NAV in Australian and Canadian markets and the balance of 30% in oth...