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RHB launches syariah-compliant product
by hlk Tue 05 Jul 2011, 17:38
KUALA LUMPUR:RHB Investment Management Sdn Bhd (RHBIM) has launched the RHB Islamic Enhanced Cash Fund, adding another
syariah-compliant fund to its money market stable, besides the current RHB Islamic Cash Management Fund.
RHBIM managing director Sharifatul Hanizah Said Ali said the new fund strived to potentially distribute "enhanced income" to investors through sukuk and Islamic fixed income instruments which had the potential to give higher returns.
"The fund also enables them to enjoy tax-exempt income," she said in a statement, which also stated that the fund was suitable for investors wanting to earn higher returns than savings deposits while maintaining a certain degree of
liquidity.
The approved fund size for the RHB Islamic Enhanced Cash Fund is 500 million units. The minimum investment amount is RM100,000 and minimum additional investment is RM50,000 at a par value of RM1.
RHBIM is a wholly-owned subsidiary of RHB Investment Bank. - Bernama
syariah-compliant fund to its money market stable, besides the current RHB Islamic Cash Management Fund.
RHBIM managing director Sharifatul Hanizah Said Ali said the new fund strived to potentially distribute "enhanced income" to investors through sukuk and Islamic fixed income instruments which had the potential to give higher returns.
"The fund also enables them to enjoy tax-exempt income," she said in a statement, which also stated that the fund was suitable for investors wanting to earn higher returns than savings deposits while maintaining a certain degree of
liquidity.
The approved fund size for the RHB Islamic Enhanced Cash Fund is 500 million units. The minimum investment amount is RM100,000 and minimum additional investment is RM50,000 at a par value of RM1.
RHBIM is a wholly-owned subsidiary of RHB Investment Bank. - Bernama
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