ICAPITAL.BIZ AIMS TO GO GLOBAL WITHIN NEXT EIGHT YEARS

By Amanina Mohamad Yusof

KUALA LUMPUR, Oct 4 (Bernama) -- Malaysia's only listed closed-end fund,
icapital.biz Bhd, aims to go global by expanding its operations in more
countries within the next eight years, said its managing director, Tan Teng Boo.

"We plan to open our next operating fund management company in Hong Kong,"
Tan told Bernama after the presentation on icapital.biz's International Value
Fund here Monday.

He said icapital.biz was interested in China and the US.

Tan said the ringgit should be internationalised to attract more foreign
direct investments into the country.

"The speculation will not happen because Malaysia's current account surplus
is big," he said.

The International Value Fund (IVF), launched in June 2009, is an open-ended,
global fund aimed at retail investors.

The IVF is priced in Australian dollar and investors do not pay any
commission or any entry or exit fees, and buying and selling is solely based on
its net asset value.

It is managed by Capital Dynamics (A) Ltd, the first Asian fund manager to
hold the Australian Financial Services licence issued by the Australian
Securities and Investments Commission.

The fund aims to seek long-term capital appreciation while reducing the
margin of error.

It seeks low-risk and high-return types of investments.
-- BERNAMA