Principal Asset Management (Principal Malaysia) has launched two Shariah-compliant funds.
Called the Principal Islamic Global Multi-Asset Fund and Principal Islamic Greater China Growth Fund, the funds will enable investors to diversify their portfolios across various asset classes and global markets, while adhering to Shariah principles, the asset manager announced on 3 August.
Specifically, the Principal Islamic Global Multi-Asset Fund offers exposure to a diverse portfolio of asset classes, predominantly in Shariah-compliant equities and bonds.
It allows for capital growth and income within a medium-to-long-term investment horizon through strategic and tactical asset allocations that navigate various market cycles, while minimising portfolio risk.
The Principal Islamic Greater China Growth Fund also allows investors with a long-term investment horizon to benefit from capital growth.
The fund invests in Shariah-compliant equities of companies in the Greater China region (specifically China, Hong Kong, and Taiwan) that display positive fundamental change and whose valuations are under-appreciated in the market relative to their potential going forward.
The Principal Islamic Global Multi-Asset Fund offers three share classes for investors: Class USD, Class MYR and Class MYR-Hedged.
Meanwhile, the Principal Islamic Greater China Growth Fund offers five share classes for investors: Class MYR, Class MYR-Hedged, Class USD, Class SGD and Class SGD-Hedged.
