AmInvest has opened a feeder fund which will allow Malaysian high net worth investors to access BlackRocks Global Multi-Asset Income Fund.
The fund holds a diversified portfolio of investments in a range of assets and, said AmInvest, is targeted at investors looking for an alternative to volatility, low yields and uncertain investment returns.
AmInvest added the fund would aim to provide income and, “to a lesser extent”, long term capital growth.
The BlackRock Global Multi-Asset Income Fund has recorded an average yield of 5.3% since its inception in June 2012. It follows a flexible asset allocation strategy, covering traditional equities and fixed income, as well as non-traditional assets such as preferred stocks, bank loans, and property and infrastructure related vehicles.
“In the past, investors turned to bonds and equities to add stability, returns and even steady growth to their portfolios,” said AmInvest chief executive, Maznah Mahbob.
“However, the market conditions are very different today. It is now more challenging to find sustainable investment solutions from traditional asset classes.”
The fund’s base currency is US dollar, however investors may subscribe the units either in USD, Malaysian ringgit (RM), Singapore dollar (SGD) or Australian dollar (AUD). Its minimum and additional investments are US$5,000 respectively, for investments in USD and RM1,000 and RM500 for investments in RM respectively.
The fund’s initial offer period has commenced on 17 March and is distributed by AmInvestment Bank and Citibank.
AmInvest is the funds management business of AMMB Holdings which manages both conventional and shariah-compliant funds. It had approximately RM35.8bn (£6.62bn, $11.05bn) assets under management as at 28 February.
AmInvest manages 80 unit trust funds, two exchange-traded funds and eight private retirement scheme (PRS) funds (three PRS core funds and five PRS non-core funds) encompassing both conventional and shariah-compliant funds.