The United Global Income Focus Fund aims for income and growth. It will invest 90% of its assets in the United Income Focus Trust, which is managed by its parent UOB Asset Management in Singapore.
As of September, 47% of its allocation globally was to equities and 43% to bonds, according to the fund’s factsheet.
The product is aimed at investors with a moderate risk appetite who seek regular income from a portfolio of diversified global assets, according to the prospectus. Distribution of income will be on a quarterly basis.
The fund uses a blended benchmark: MSCI All Country World Index (25%) and Citi World Government Bond 10+ Yr Index (hedged).
UOB Asset Management (Malaysia) manages 23 funds with assets worth RM 6bn ($1.42bn), according to the firm.
Malaysia’s fund industry has grown assets 8.86% this year to $179bn.