BIMB Unit Trust Management Berhad (BUTM), a wholly owned subsidiary of Bank Islam Malaysia Berhad, has today announced the re-branding of its four unit trust funds as part of the strategies to help new market penetration and acceptability by the investing public.
Besides this, it is also to impart the mind of the potential clients about the funds, eliminate barriers and wrong perception on the existing funds and eventually creating a customer friendly environment and to give Islamic names that symbolize and emphasize on Islamic values and teachings.
Chairman of BUTM, Dato’ Dr. Halim Ismail said that as part of its unit trust push, BUTM realizes the importance of a brand image. Consequently, it has carried out a re-branding exercise in response so that consumers may be able to better identify with its services and products.
“Unit trusts involve lower risks when compared with direct investments in equities or shares. In addition, unit trusts tend to generate higher returns over the medium to long term, compared with average returns from fixed deposits in banks,” he said at the signing ceremony between BUTM and Wasiyyah Shoppe here today.
There are four funds under the new products namely ASBI Dana Al-Fakhim (previously ASBI Dana Bon Islam), ASBI Dana Al-Munsif (previously ASBI Dana Persaraan), ASBI Dana Al-Falah (previously ASBI Dana Pendidikan) and ASBI Dana Al-Mubin (previously ASBI Tabung Pertama).
ASBI Dana Al-Fakhim is an Islamic bond fund, ASBI Dana Al-Munsif is a balanced fund, ASBI Dana Al-Falah is a growth fund and ASBI Dana Al-Mubin is an aggressive growth fund designed for generating returns over the medium to long-term.
Dato’ Dr. Abdul Halim Ismail said, Islamic unit trust funds are increasingly prominent in the recent years as more Syariah-compliant investments are being sought. With the agreement, BUTM will utilize about 500 Wasiyyah Shoppe agents to sell its products and services including working together to market the four above-mentioned unit trust funds.
Consonant with that, BUTM is organizing a promotional campaign whereby investors will be given 1 per cent free unit based on total unit purchased for all unit trust fund except for Al-Fakhim fund. The promotion period will run from 4 April 2006 till 30 April 2006. To know more about BUTM unit trust funds, investors may call 1800-88-1196 or e-mail firstname.lastname@example.org.
Meanwhile, Dato’ Kamaruddin Shariff, Chairman of Wasiyyah Shoppe said that the agreement signed between the two companies will provide more choices for investors to spread their money over diversified portfolios of Syariah-approved securities.
“The service will give investors an alternative to invest their money while at the same time, make allocations for it in a will. I am optimistic that the new service will also be well received as the majority of Muslims in Malaysia are awakening to wealth management and willing their wealth to their loved ones. The Islamic will-management industry is untapped due to the low take up and awareness on the products and services available,” Dato’ Kamaruddin said.
Established in 2004, Wasiyyah Shoppe is a provider of Islamic will writing services that are based on Syariah laws.
For media enquiries, contact:
Azlyna Jusoh, BIMB Unit Trust Management Berhad
Tel: 03-2616 8000 ext. 3712. Email: email@example.com