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Monday, 17 July 2017 | MYT 8:55 PM

Pelaburan Mara sets up Dana Mutiara for ministry’s community members

KUALA LUMPUR: Pelaburan Mara Bhd (PMB) has launched a syariah equity fund, PMB Dana Mutiara, with projected sales of RM100mil by year-end.

Rural and Regional Development Minister Datuk Seri Ismail Sabri Yaakob said the fund was re-launched specifically for members of the Rural and Regional Development community in conjunction with PMB’s 50th anniversary celebration.

A syariah equity growth and income, PMB Dana Mutiara also provides group family takaful protection besides deduction of sales charge of 50% during the offer period ending December.

“Qualified investors enjoy an initial investment of as low as RM100 per unit and we expect more than one million members of the ministry’s community -- Mara employees, ex-Mara students, cooperatives and settlers -- will subscribe to Dana Mutiara,” he said at the PMB’s 50th anniversary celebration and Aidilfitri open house in Kuala Lumpur on Monday.

PMB chief executive officer Najmi Mohamed said the fund targeted return on investment of between 15% and 17% per annum from 9.4% from January to June this year.

He said Dana Mutiara targeted 50% of its units to be subscribed by the retail sector, while the other 50% by the corporate sector.

So far, the retail sector has subscribed 80% of the units allocated for the sector, he said, adding that the fund also targets investment in the glove manufacturing sector, financial technology and construction.

At the event, PMB received recognition from The Malaysia Book of Records as the country’s longest-running unit trust management company in the business category.

The recognition was presented to PMB group chief executive officer Datuk Nazim Rahman by Malaysia Book of Records assistant general manager Mohamad Alex Edward. - Bernama