PUBLIC Mutual, the wholly-owned subsidiary of Public Bank, launched a new fund known as the PB Vietnam Global 40 Fund (PBVG40F), allowing investors to tap into long-term growth opportunities in the Vietnam and global markets (maximum up to 40 stocks).
The fund aims to invest at least 20% of its net asset value (NAV) in the Vietnam market, with the balance in global markets including the United States, Europe and Asia Pacific.
In order to achieve capital growth, the PBVG40F will invest between 75% to 98% of its NAV in equities, with the balance invested in fixed income securities and liquid assets.
“Vietnam is an attractive destination for foreign direct investments (FDI) due to its business-friendly environment, attractive investment incentives and competitive labour costs,” Public Mutual CEO Yeoh Kim Hong said after the launching of the fund on Sept 18.
“It is also a potential beneficiary of the relocation of production facilities amid the ongoing global trade tensions,” she added.
Apart from that, Vietnam is well-positioned for an economic recovery from the Covid-19 outbreak due to its early containment efforts. The country’s economic growth is envisaged to remain in positive territory for 2020, supported by the government’s monetary and fiscal stimulus measures.
The initial issue price for PBVG40F is 25 sen per unit during the 21-day initial offer period from Sept 18 to Oct 8, 2020. The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100. – Sept 21, 2020
