The Fund seeks to provide investors with a regular income stream and high level of liquidity to meet cash flow requirements while maintaining capital preservation.
Money Market Fund (Wholesale Fund)
22 August 2006
The Fund is suitable primarily for low risk Sophisticated Investors, who:
are generally conservative
are risk averse; and
prefer a short-term investment that complies with Shariah requirements.
The Fund shall invest in Islamic money market instruments and Islamic deposits with Financial Institutions only.
The basic investment philosophy of the Manager is to provide regular income to the Fund, and at the same time, preserve capital and maintain a sufficient level of liquidity in order to meet repurchase requests by the Unit Holders without adversely impacting the Fund’s NAV. The Manager believes that an important way to accomplish this is by analyzing various factors such as the current and anticipated changes in interest rates, economic statistics, yield curve changes and other general market conditions that could affect the Islamic money market instruments and Islamic deposits. There will be no foreign investments in this Fund.
Generally the Fund will adopt a hold-to-maturity policy. However, the Manager will continuously monitor the investments within the portfolio actively. In the best interest of the Unit Holders as well as to safeguard the assets and total returns for the Fund, the Manager will not hesitate to liquidate an investment if there are potential signs of credit deterioration, and to replace it with another permitted investment which closely matches the Fund’s objective. In the event of a credit-downgrade, the Manager will endeavor to replace such investments, in which, complies with the Fund’s investment restrictions and limits.
% of the Fund’s NAV
Islamic money market instruments and Islamic deposits (with a maturity of less than one (1) year)
Minimum Initial Investment
Minimum Additional Investment
FEES & CHARGES
Sales Charge per Unit
Annual Management Fee
0.50% per annum of the NAV of the Fund
Trustee Fee / Custodian fee
0.05% per annum of the NAV of the Fund, subject to a minimum fee of MYR18,000 per annum
Not Applicable as transfers are not permitted for this Fund
Not applicable as switching into/out of the Fund is not permitted.