KUALA LUMPUR – BIMB Investment Management Bhd (BIMB Investment) has launched Bank Islam Premier Fund (BIPF), a wholesale shariah-mixed assets fund targetting annual income distribution.
It said BIPF is available with an initial investment of RM30,000 and minimum additional investment of RM15,000, and was available starting last Tuesday at all Bank Islam branches nationwide.
"The initial offer price for BIPF is RM1 per unit during its initial offer period of 45 days, starting from November 17 until January 1, 2021,” BIMB Investment, a wholly owned subsidiary of Bank Islam Malaysia Bhd, said in a statement today.
Investors can now explore new investment opportunities with BIPF, which provides a potential average return of 5% per annum for five years with medium- to high-risk investment, it said.
“It is equipped with flexible investment solutions with no lock-in period and no withdrawal charges.”
BIPF is a shariah-mixed assets fund with investments in Collective Investment Scheme (CIS), Bank Islam's investment account, Islamic deposits and money market instruments.
“The dynamic asset allocation of BIPF aims to generate potential capital appreciation and annual income distribution,” it said.
BIPF will invest a maximum of 70% of its Net Asset Value (NAV) in CIS managed by BIMB Investment and a minimum of 30% of the fund’s NAV will be placed in Bank Islam’s investment account, Islamic deposits and money market instruments.
BIMB Investment chief executive officer Najmuddin Mohd Lutfi said BIPF offers sophisticated investors a diversified investment portfolio that aims to provide medium- to long-term returns through capital appreciation and income distribution.
"Since the 12 months deposit rate is currently at around 1.80% due to the overnight policy rate (OPR) cuts, BIPF offers sophisticated investors an alternative to potentially grow future income," he added. – Bernama, November 23, 2020
