The RHB Islamic Global Developed Markets Fund aims to offer capital growth by investing in Shariah-complaint companies listed in developed markets.
The firm cited the US, the UK, Switzerland, France, Germany, Italy, the Netherlands, Spain, Sweden, Japan and Australia as the investible universe.
“We are bringing this fund to Malaysian investors at a time when global economic growth is on a positive trajectory,” said Eliza Ong, managing director and regional head.
“This acceleration will be led by developed markets due to sound fiscal policy, the wealth effect feeding into the real economy and the positives from low oil prices, which continue to drive corporate earnings and consumption.”
The fund is targeting RM100m ($27.5m) over the next six months. The annual returns are expected to be 9-11%, Ong said.
The fund will capture consumption and lifestyle, healthcare, smart gadgets, and robotic revolution themes.
The fund is suitable for investors who are looking for Shariah-compliant investments and are willing to accept moderate risk in their investments in order to achieve long-term growth.
Nomura Islamic Asset Management, a wholly-owned subsidiary of Nomura Asset Management Singapore, is the external investment manager for the developed market fund.
Nomura Islamic AM manages Islamic mandates for institutions, financial and corporate clients in Malaysia and abroad.