Published by Asia Asset Management – 23rd Nov 2018
Australia’s BetaShares lists bond fund
Australian fund manager BetaShares Capital Limited (BetaShares) has listed its BetaShares Legg Mason Australian Bond Fund on the Australian Securities Exchange.
The fund, which provides investors with exposure to an actively managed portfolio of Australian bonds, is benchmarked against the Bloomberg AusBond Composite Index over rolling three-year periods, the company says in a statement on November 15.
The fund was listed on November 16.
BetaShares managed US$5.7 billion of assets as at June 30, 2018.
Franklin Templeton’s Indian unit launches bond fund
The Indian unit of US-based Franklin Templeton Investments launched its closed-end Franklin India Fixed Maturity Plans – Series 5 – Plan B (1,244 days) fund on November 19.
The fund, which closes on November 27, seeks to generate income by investing in a portfolio of fixed income securities or debt instruments, Franklin Templeton Asset Management (India) Pvt. Ltd says in a statement on the day of the launch.
The minimum subscription amount is 5,000 rupees (US$70.15).
India’s DSP Mutual Fund unveils healthcare fund
India’s DSP Mutual Fund has launched its DSP Healthcare Fund, which will focus on pharmaceutical and healthcare companies and is benchmarked against the S&P Bombay Stock Exchange Healthcare Index.
The fund may invest up to 25% in international healthcare stocks, especially large US companies, the company says in a statement on November 12, when the fund was launched.
The minimum subscription amount is 500 rupees (US$7.01) until the fund closes on November 26. There is no minimum investment thereafter.
DSP Mutual Fund had 2,405 crores (US$337.31 million) of total assets under management as at October 30, 2018.
China Asset Management, RHB Group launch shariah-compliant China fund
China Asset Management Co.’s (ChinaAMC) Hong Kong unit has teamed up with Malaysia’s RHB Group Asset Management to introduce a shariah-compliant China fund as the Chinese firm seeks to tap the potential of the fast-growing Islamic investment market.
The new RHB Shariah China Focus Fund was launched on November 15.
This is the first A-shares focused shariah fund in Malaysia and it kicks off ChinaAMC (HK)’s move into the Southeast Asian asset management market, according to a company spokesman.
The fund will invest in a mix of shariah-compliant China stocks, including A-shares and H-shares, as well as Islamic real estate investment trusts, Islamic exchange-traded funds, and shariah-compliant equity-related securities, ChinaAMC (HK) says in a statement on November 16.
RHB Group Asset Management, a wholly-owned subsidiary of Kuala Lumpur-based RHB Investment Bank Berhad, had approximately US$11.9 billion of total assets under management (AUM) at the end of September 2018.
ChinaAMC (HK) had AUM of around $7.2 billion as of June 2018.
Malaysia’s TA Investment Management launches Islamic closed-end fund
Malaysian asset manager TA Investment Management (TAIM) has launched a wholesale Islamic three-year closed-end fund aimed at wealthy investors.
The TA Dana Principal Preservation Robotic Theme fund will invest at least 90% of its net asset value in Islamic negotiable instruments of technology companies and/or Islamic money market instruments of financial institutions, the company says in a statement on November 21, when the fund was launched.
A maximum 10% will also be invested in Islamic certificates, including certificates of deposit.
The fund “comes with a 100% capital preservation and has a potential payout of 9% per annum”, Wong Mien, chief executive officer of TAIM, says in the statement.
It’s only available to individuals who have net assets of more than 3 million ringgit (US$714,980).
The fund is open for subscription at 1 ringgit per unit until January 4, 2019.
