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165291
Wed, 03/02/2011 - 11:03
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https://oananews.org//node/165291
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AMINVESTMENT BANK PLANS TO LAUNCH FIVE OFFSHORE FUNDS THIS YEAR
KUALA LUMPUR, March 2 (Bernama) -- Aminvestment Bank Group, a premier investment banking group in Malaysia, plans to launch five offshore funds in emerging equity markets, including in Australia, this year, said Ng Chze How, its Director of Retail Funds (Funds Management).
He said the offshore funds would be based on potential demand for Malaysian investors besides performance-based products.
He said the first offshore fund would be for Australia as the stock market was expected to perform significant growth this year following a strong equity market and currency, improved earnings, liquidities and overall economic recovery.
"We will tie-up with an asset manager in Australia. For most of our offshore funds, we normally tie-up," he told reporters after a media briefing on Australia as an investment destination here Wednesday.
Last year, the group launched four offshore funds, including AmBRIC Equity Malaysia's first open-ended BRIC Fund (BRIC is the acronym for Brazil, Russia, India and China) and AmIslamic Greater China Fund.
Ng said the size of the BRIC Fund stood at RM140,000 over a three-month period since it was launched in November 2010 while the Greater China Fund had swelled to RM20 million over a six-month period. (US$1=RM3.04)
Based on the performance of the previous offshore funds, he said, it clearly showed Malaysian investors' interest in emerging equity markets.
Currently, he said, the group's total assets under management, including discretionary mandates, stood at RM24 billion.
On Australia as an investment destination, Ng said, there was increasing substantial interest among Malaysians, especially in the Australian mining and agriculture industry.
Australia has 18 consecutive years of positive growth and had outperformed all other advanced economies through the global financial crisis.
The resilient Australian economy was backed by a strong financial sector and abundant commodities resources, he added.
Meanwhile, Chau Duncan, Trade Commissioner, Clean Energy and Environment Asean-Australia Trade Commission said avenues for investment ranged from traditional industries -- agribusiness and mining, where Australia's competitive advantages are well established to fast evolving technology and services sector.
"Australia's strength and resilience provide a sound base for investment trade.
"Malaysian investors should look into the biotechnology, pharmaceutical and other services industries besides mining, agribusiness, tourism and real estate industries they are already engaged in," she said.
She said Australia was a safe destination for overseas investments and confidence in the country's business environment had encouraged a steady flow of foreign direct investments.
He said the offshore funds would be based on potential demand for Malaysian investors besides performance-based products.
He said the first offshore fund would be for Australia as the stock market was expected to perform significant growth this year following a strong equity market and currency, improved earnings, liquidities and overall economic recovery.
"We will tie-up with an asset manager in Australia. For most of our offshore funds, we normally tie-up," he told reporters after a media briefing on Australia as an investment destination here Wednesday.
Last year, the group launched four offshore funds, including AmBRIC Equity Malaysia's first open-ended BRIC Fund (BRIC is the acronym for Brazil, Russia, India and China) and AmIslamic Greater China Fund.
Ng said the size of the BRIC Fund stood at RM140,000 over a three-month period since it was launched in November 2010 while the Greater China Fund had swelled to RM20 million over a six-month period. (US$1=RM3.04)
Based on the performance of the previous offshore funds, he said, it clearly showed Malaysian investors' interest in emerging equity markets.
Currently, he said, the group's total assets under management, including discretionary mandates, stood at RM24 billion.
On Australia as an investment destination, Ng said, there was increasing substantial interest among Malaysians, especially in the Australian mining and agriculture industry.
Australia has 18 consecutive years of positive growth and had outperformed all other advanced economies through the global financial crisis.
The resilient Australian economy was backed by a strong financial sector and abundant commodities resources, he added.
Meanwhile, Chau Duncan, Trade Commissioner, Clean Energy and Environment Asean-Australia Trade Commission said avenues for investment ranged from traditional industries -- agribusiness and mining, where Australia's competitive advantages are well established to fast evolving technology and services sector.
"Australia's strength and resilience provide a sound base for investment trade.
"Malaysian investors should look into the biotechnology, pharmaceutical and other services industries besides mining, agribusiness, tourism and real estate industries they are already engaged in," she said.
She said Australia was a safe destination for overseas investments and confidence in the country's business environment had encouraged a steady flow of foreign direct investments.
