Am Investment To Launch 12 Equity Funds In 2012

KUALA LUMPUR, April 17 (Bernama) -- AmInvestment Bank Group is looking to launch 12 equity funds this year to achieve the target of increasing its assets under management (AUM) to over RM35 billion (US$11.4 billion) by year-end from RM26.9 billion (US$8.76 billion) in 2011. Ng Chze How, Director of Retail Funds (Fund Management), said: "From the 12 planned for this year, six have been launched, and these have brought our assets under management to RM32 billion (US$10.4 billion)." AmInvestment launched nine equity funds last year. The company aims to launch a mixture of equity products, from fixed-income funds and retail funds to shariah-compliant funds, Ng told a media briefing, here today. "By the first quarter of this calendar year, we had touched RM32 billion (US$10.4 billion) in respect of the target. So, I think, increasing this by another RM3 billion (US$978 million) by year-end should not be a problem. "The major sectors that we are looking to tap are those which have benefited from the Economic Transformation Programme, such as transportation and oil and gas," Ng said. -- BERNAMA