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BIMB Invest Launches Money Market Fund


Fund expected to attract investors who prefer regular income stream with low risk tolerance level

KUALA LUMPUR, Thursday [13 September 2012]: BIMB Investment Management Berhad (BIMB Invest) today announced the launch of its BIMB Dana Al-Fakhim, a money market fund. The launch is a response to the different market conditions and to meet the increasingly sophisticated needs of its customers.

Speaking at the launch, its Chairman Y.Bhg. Dato’ Sri Zukri Samat said, “BIMB Invest has always taken cognisance of the needs and demands of its investors to put their money in such investments.”

“As a full-fledged Shariah-compliant investment management institution, we believe BIMB Invest is well-placed to meet the diversified needs of investors, especially those looking for Shariah compliant products to invest in,” he added.

Dato’ Sri Zukri who is also the Managing Director of Bank Islam said, “Over the last three years, the demand for Shariah-compliant funds registered more than 15% growth year on year. As of 30 June 2012, total industry net asset value of Shariah-compliant funds stood at RM31.4 billion as compared to RM19.7 billion as at 30 June 2009. This demand is expected to increase further.” In fact, the Securities Commission in its Second Capital Market Masterplan has projected that Malaysia’s overall Islamic capital market will grow at an average of 10.6% per annum over the 10-year period to 2020. The demand for Shariah-compliant products is not just coming from within Malaysia. We have seen that the global financial crisis of 2008 – 2009 has helped in directing the international financial community to focus more intently and intensively on the virtues of Islamic capital market and its viability as an alternative to conventional capital market. This growth momentum in the Islamic capital market is expected to translate into bright prospects for further growth in the market. The untapped market is huge, as increasingly investors are opting to have their investments guided by Shariah principles. Dato’ Sri Zukri said the launch of BIMB Dana Al-Fakhim is aimed at tapping the huge potential that exists in the banking system’s current deposit of over RM1.3 trillion (as at June 2012), as well as to complement its existing portfolio of funds. As a money market fund, BIMB Dana Al-Fakhim is suitable for investors who have a low risk tolerance level and who seek to receive a regular stream of income. There is no entry cost when investing in the fund and income distribution is expected to be on a quarterly basis. In addition, as the investment portfolio of the fund is in fixed income instruments, the income derived from those investments is exempted from tax, which will flow as tax exempt income in the hands of unit holders. Apart from investors who wish to receive a regular stream of income, the fund is also suitable for investors who would like to park their money temporarily during equity market downturn, before they re-enter the market at the next cycle. In this way, investors could lock in their profits from equity funds and preserve the value of their investments by switching into the money market fund. Dato’ Sri Zukri said that for the more passive investors who do not want to be too involved in managing their funds, BIMB Invest is now working on a product, where the fund’s asset allocation between equity and fixed income investments will be flexible and would vary according to different market conditions. When the equity market is bullish, the fund would overweight equity and underweight fixed income investments and on the other hand, when the equity market is bearish, the fund would underweight equity and overweight fixed income investments. The launch also saw BIMB Invest donating RM10,000 each to three charitable organisations: Aman Palestine, Persatuan Kebajikan Al-Fikrah Malaysia and Pusat Rawatan Al-Hidayah. The funds were raised from BIMB Invest’s “Perform Charity through Investment in Unit Trust” drive where BIMB Invest had pledged to contribute a percentage of its proceeds from sales of BIMB i Dividend Fund to welfare.

Through this programme, BIMB Invest had provided an avenue for its customers to participate in giving back to society.

About BIMB Invest

Established on 14 September 1993, BIMB Invest is a wholly-owned subsidiary of Bank Islam Malaysia Berhad. As a full-fledged Shariah-compliant investment management institution, BIMB Invest undertakes Shariah-compliant investment activities via its range of investment fund products (aside from BIMB Dana Al-Fakhim) to cater to the different risk profiles of its customers.

Its product offerings include:

BIMB Dana Al-Munsif

A balanced fund with asset allocation between equity and sukuk are in the range of 40%-60% of the fund’s net asset value (NAV). BIMB Dana Al-Munsif provides investors with a steady and consistent income and capital appreciation of the units over the medium to long term period. The returns are in the form of long term capital growth and regular income distribution to the unit holders.

BIMB Dana Al-Falah

A mixed asset fund, BIMB Dana Al-Falah offers a long term capital appreciation of the units via a diversified investment portfolio of equities, bonds and money market instruments. The fund’s asset allocations are as follows: Equity (30% – 80%); Sukuk (0% – 40%); Money Market Instrument (0% – 50%); Collective Investment Scheme (0% – 30%); Structured Product (0% – 20%).

BIMB i Dividend Fund

An equity income fund, BIMB i Dividend Fund provides investors with a combination of steady and recurring income as well as medium to long term capital growth. This is done through investments in Shariah-compliant dividend yielding equities. Equity asset allocation is between 70% and 98% while Sukuk and Money Market Instrument is between 2% and 30%.

BIMB i Growth

An equity growth fund, BIMB i Growth’s main objective is to provide a medium and long term return through capital appreciation. The fund features equity allocation of 70% – 98% as well as Sukuk and Money Market Instrument allocation of 2% to 30%.

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