Maybank Islamic Asset Management Sdn Bhd (“MIAM”) today announced the launch of its wholesale fund, the Maybank Islamic Strategic Income Fund (“MISI Fund”), developed in strategic collaboration with Maybank Islamic Berhad.
The MISI Fund is designed to enhance corporate and institutional investors’ cash and liquidity management needsby offering a Shariah-compliant solution with the potential to generate net returns of up to 3.7% – 3.8% per annum. The Fund also provides a high level of liquidity, offering T+1 business day redemption, providing quick access to funds1.
The MISI Fund aims to provide investors with a consistent income stream by investing a minimum of 30% of the Fund’s net asset value (NAV) in MYR-denominated sukuk with a minimum credit rating of AA3 by RAM or an equivalent rating by MARC and up to 70% of the Fund’s NAV in Islamic liquid assets. These liquid assets comprise Islamic money market instruments and Islamic deposits, with 45% of the Fund invested in Maybank Islamic’s General Investment Account (“GIA”).
GIA is a Term Investment Account product offered by Maybank Islamic with the investment objective to provide stable returns through low to moderate risk investment into a portfolio of the Bank’s financing assets such as mortgage financing, hire purchase, Unit Trust financing and SME financing. The MISI Fund, through GIA invests in Maybank Islamic’s strong and highquality financing assets. This can help investors to mitigate the downside risks in adverse market condition and provide a steady income stream to the investment portfolio.
Belqaizi Taufik, Chief Executive Officer of Maybank Islamic Asset Management Sdn Bhd, said, “The launch of the Maybank Islamic Strategic Income Fund marks an exciting milestone for MIAM as we introduce our first Shariah-compliant liquidity management solution. With a target AUM of RM200 million in FY2024, this Fund underscores our leadership in Shariah-compliant asset management and highlights the strength of our collaboration with Maybank Islamic. We believe that the MISI Fund will offer corporate and institutional investors higher potential tax-exempted returns and high liquidity through investments in Sukuk, Shariah-compliant money market instruments, and the General Investment Account in collaboration with Maybank Islamic.”
