New Fund: CIMB Islamic Al-Azzam Equity Fund
Launched on the same day with AmMutual new fund, the CIMB Islamic Al-Azzam Equity Fund is an open-ended fund that aims to achieve consistent capital growth over the medium to long term. The asset allocation strategy for this Fund is as follows: between 70% to 98% (both inclusive) of the Fund’s NAV will be invested in Shariah-compliant Malaysian equities; and up to 30% of the Fund’s NAV in other Shariah-compliant investments and Shariah-compliant liquid assets, with at least 2% of the Fund’s NAV to be maintained in Shariah-compliant liquid assets. For this Fund, the investment into Sukuk must satisfy a minimum credit rating of “A3” or “P2” by RAM or equivalent rating by MARC; “BBB” by S&P or equivalent rating by Moody’s or Fitch. In line with its objective, the investment strategy and policy of the Fund is to rebalance the portfolio to suit market conditions in order to reduce short-term volatility and provide consistency in capital gro...