Public Mutual Launches Public e-Islamic Income Fund for Investors Seeking Medium to Long-Term Investments

Malaysia-based Public Mutual (PM) has launched its Public e-Islamic Income Fund (PeISINCF) on the 1st of July 2020, aiming to provide annual income over the medium to long-term period to its investors. The Chief Executive Officer of PM, Yeoh Kim Hong, stated that the fund will be suitable for investors looking for a steady annual income stream.

According to PM, PeISINCF will invest mainly in Islamic deposits, Islamic investment accounts, as well as Islamic money market instruments, and may invest up to 50% of its net asset value in Sukuk. With the aforesaid investments, PeISINCF expects to provide investors with potentially higher yields than fixed deposits, according to PM.

PM added...