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Affin Hwang announces new fixed income fund

  • May 17, 2018

Affin Hwang Asset Management has launched a new closed-end fixed income fund targetted at risk-averse investors.

Affin Hwang Asset Management has launched a new closed-end fixed income fund targetted at risk-averse investors.

According to a statement from the Malaysian asset manager, 90% of the net asset value (NAV) of the 18M Enhanced Income Fund will be invested in defensive assets including money market instruments or deposits.

The remaining 10% will be invested in active assets such as options or structure warrants, up to 105 of the NAV.

The asset manager said that the fund is aimed at safety-seeking investors who are seeking capital preservation and have a short-term investment horizon of up to 18 months.

While the defensive assets will provide downside risk protection, the fund will also deploy a global fixed-income strategy that offers broad-based income from various sources, the statement said.

The initial offer price of the fund is RM1 (USD0.25) per unit, and the minimum initial investment is RM10,000. The fund is open to subscription for a maximum 45 days from May 16.

Affin Hwang Asset Management had total AUM of approximately RM47.65 billion ringgit as of March 31, 2017.

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