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Another Shariah Offering from RHB Investment Management

Kuala Lumpur, 30 June 2011: RHB Investment Management Sdn Bhd (RHBIM) launched the RHB Islamic Enhanced Cash Fund recently, adding another Shariah-compliant fund to its money market stable besides the current RHB Islamic Cash Management Fund.

Puan Sharifatul Hanizah Said Ali, Managing Director of RHBIM said, "We are happy to be able to add variety to our Islamic money market offering, giving more choices to investors for their investment consideration. The difference between the RHB Islamic Enhanced Cash Fund and RHB Islamic Cash Management Fund is that the former invests in a portfolio of Islamic money market instruments and/or sukuks and Islamic fixed income instruments while the latter invests in mainly short-term Islamic money market instruments and deposits."

"As the name suggests, the RHB Islamic Enhanced Cash Fund strives to potentially distribute "enhanced income" to its investors through sukuks and Islamic fixed income instruments which have the potential to give higher returns. Furthermore, the fund also enables them to enjoy tax-exempt income," she added.

Therefore, the RHB Islamic Enhanced Cash Fund is suitable for investors wanting to earn higher returns than savings deposits while maintaining a certain degree of liquidity. A low risk fund, it invests at least 90% of the Fund"s Net Asset Value (NAV) in Islamic money market instruments and/or sukuks and Islamic fixed income instruments which have a remaining maturity period of not more than one year and up to 10% of the same which have a remaining maturity period of more than one year but less than two years.

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 RM1.00.

RHBIM is a wholly-owned subsidiary of RHB Investment Bank, under the Corporate and Investment Banking arm of the RHB Banking Group, and currently has a stable of 22 retail funds. RHBIM has also been voted as one of the most astute investors in Malaysian Ringgit Bond 2010 by the Asset Benchmark Survey for three consecutive years while its RHB Islamic Bond Fund won the Edge-Lipper Malaysia Fund Awards 2011 for Best Bond in Malaysian Ringgit - Islamic Fund for the 3-year period (ending December 31, 2010) as well as  the 2010 Failaka Islamic Funds Awards for Best Malaysian Sukuk (10-year).

 

 

Issued on behalf of RHB Bank Berhad by the Corporate Communications Division, RHB Capital Berhad. For more information, please call Azman Shah Md Yaman at 03-92802419 or Shima Reza at 03-92802533.

About the RHB Banking Group

The RHB Banking Group is the fifth largest fully integrated financial services group in Malaysia. The Group"s core businesses are streamlined into seven Strategic Business Groups (SBGs): Retail Banking, Business Banking, Group Transaction Banking, Corporate & Investment Banking, Islamic Banking, Global Financial Banking and Group Treasury. These businesses are offered through its main subsidiaries - RHB Bank Berhad, RHB Investment Bank Berhad, RHB Insurance Berhad and RHB Islamic Bank Berhad, while its asset management and unit trust businesses are held under RHB Investment Management Sdn Bhd. RHB"s Global Financial Banking Division includes commercial banking operations in Singapore, Thailand and Brunei. The Group also has a non-ringgit based offshore funding operations in Labuan as well as a representative office in Vietnam. It is RHB Banking Group"s aspiration to deliver superior customer experience and shareholder value; and be recognised as one of the top financial services group in the ASEAN Region.

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