PUBLIC Bank Bhd’s wholly-owned subsidiary, Public Mutual, has launched a new fund called PB US Eagle Fund (PBUSEF) today.
“PBUSEF is the first foreign equity fund under the PB Series of Funds which focuses its investments in the US market.
“The fund is aimed at achieving long-term capital growth by investing 75% to 98% of its net asset value (NAV) in equities comprising blue chip stocks, index stocks and growth stocks, primarily in the US market, with the balance invested in fixed income securities and liquid assets,” it said, in a statement today.
Touching in the superpower’s economic potential, Public Mutual said that the US’ real gross domestic product (GDP) is projected to grow by 3.8% this year as consumer and investment spending recovers on the back of economic stimulus packages.
It added that the US Federal Reserve’s monetary easing measures amounting to USD2.7 tril is also expected to help rejuvenate the nation’s economy this year.
“And the potential rollout of the COVID-19 vaccine this year and a gradual normalisation in business activities will also help to support the economic recovery,” it opined.
On that note, corporate earnings in the US are expected to rebound by 22.1% this year after contracting by 14.5% in last year.
“The US firms are global leaders in the new growth areas of biotechnology, finance and technology (fintech), cloud computing and autonomous driving.
“In addition, its market comprises a large number of multinational companies which have geographically-diversified revenue streams and are leveraged to grow opportunities across the global economy,” said Public Mutual.
For starters, the initial issue price for PBUSEF is 25 sen per unit, during the 21-day initial offer period from Jan 5 to 25. The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100.
For details, please contact Public Bank’s Financial Executives at any branch nationwide or call Public Bank’s toll-free number at 1800-22-9999, during working hours. – Jan 5, 2021.
