Islamic Finance

BIMB Investment launches Bank Islam Premier Fund for sophisticated investors with target of 5% annual income

KUALA LUMPUR, 23rd November 2020 - BIMB Investment Management Berhad (“BIMB Investment”), a wholly-owned subsidiary of Bank Islam Malaysia Berhad, today  announced the launch of Bank Islam Premier Fund (‘BIPF’), a wholesale Shariah-Mixed Assets Fund that targets an annual income distribution.

Commenting on the launch of BIPF, BIMB Investment Chairman, Mohamed Ridza Mohamed Abdulla, said, “We are pleased with the launch of Bank Islam Premier Fund that offers innovative investment opportunities to sophisticated investors. Bank Islam Group continues to offer holistic and comprehensive funds and wealth management solutions throughout its 148 branches nationwide. Bank Islam Premier Fund further adds the depth and breadth of Bank Islam wealth management solutions for the affluent and high net worth client segments.”

Sophisticated investors can now explore new investment opportunities with BIPF that provides a potential average return of 5% per annum for five years with medium to high-risk investment. It is equipped with flexible investment solutions with no lock-in period and no withdrawal charges. The Fund is available with an initial investment amount of RM30,000 and minimum additional investment of RM15,000 starting 17 November 2020 at all Bank Islam branches nationwide. The initial offer price for BIPF is RM1.00 per unit during its initial offer period of 45 days, starting from 17 November 2020 until 1 January 2021.

BIMB Investment Chief Executive Officer, Najmuddin Mohd Lutfi, said, “We remain resilient amid the coronavirus-related market upheavals. We continue to remain innovative in the Shariah and ESG investment field, providing solutions to cater to the needs of all investors that include sophisticated investors, corporate and institutions. We look forward to a better market outlook as economies recover from Covid-19 pandemic. The launch of Bank Islam Premier Fund is timely. It offers sophisticated investors with a diversified investment portfolio that aims to provide medium to long term return through capital appreciation and income distribution. Since the 12 months deposit rate is currently around 1.80% due to OPR cuts, this Fund offers sophisticated investors an alternative to potentially grow future income.”

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 the Fund aims to generate potential capital appreciation and annual income distribution. BIPF will be investing a maximum of 70% of the Fund’s NAV in CIS managed by the Manager, 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 has been awarded Best Islamic Asset and Fund Manager in Malaysia for four consecutive years since 2017 and Best Risk-Adjusted Returns for ESG Principle Investment 2019 and 2020 by Alpha South East Asia. The company also won Best ESG Asset Manager of the year 2019 and 2020, Best ESG Equity Fund 2020 (BIMB-ARABESQUE i Global Dividend Fund 1) and Best ESG Sukuk Fund 2020 (BIMB ESG Sukuk) by The Asset Triple A Islamic Finance Awards.

BIMB Investment is the first bank-backed Islamic Asset Manager in the region to be a signatory of the United Nations-Supported Principles for Responsible Investment (UNPRI).

Copyright Press Releases 2020


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