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UOB launches income fund in Malaysia

The mixed asset product is a feeder fund investing in the bank's United Income Focus Trust.

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.



The performance of the United Income Focus Trust versus the sector

Source: FE. The fund and the sector’s NAV have been converted to US dollars for comparison purposes. Data since the fund’s inception in 2015.

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