Maybank Asset Management Launches Mixed-Assets Islamic Fund with Waqf Feature

Maybank Asset Management in Malaysia has launched its first Shariah-compliant retail investment fund with a Waqf feature. The fund named Maybank Mixed Assets-I Waqf Fund has an initial size target of MYR 50 million.

Why it Matters?

Chief Executive officer of Maybank Asset Management, Ahmad Najib Nazlan, stated that the aim of this fund is to make an annual income via Waqf allocation. The fund gives investors the opportunity to contribute a portion of their annual investment income towards Waqf in order to help the underprivileged community with regard to education, healthcare, environment and economic empowerment. The investment manager will invest the funds in the Shariah-compliant financial market globally and will not be limited to Malaysia alone....