Principal Islamic Wholesale Sukuk Fund (Class B)

NAV History

From
Date NAV Fund change Fund Change Percent
1.1124
0.1124
11.24 %
1.1150
0.1150
11.50 %
1.1158
0.1158
11.58 %
1.1159
0.1159
11.59 %
1.1157
0.1157
11.57 %
1.1152
0.1152
11.52 %
1.1149
0.1149
11.49 %
1.1131
0.1131
11.31 %
1.1130
0.1130
11.30 %
1.1127
0.1127
11.27 %
1.1126
0.1126
11.26 %
1.1124
0.1124
11.24 %
1.1119
0.1119
11.19 %
1.1118
0.1118
11.18 %
1.1114
0.1114
11.14 %

General Information

The Fund is a Wholesale Fund issued by Principal Islamic Malaysia. The Fund aims to provide total return of investments through potential income and capital appreciation over medium to long-term by investing primarily in MYR denominated Islamic fixed income securities that comply with the Shariah principles.

Fund is suitable for investors who: 

  • are a Sophisticated Investor;
  • have a medium to long term investment horizon; and
  • want an investment primarily in MYR denominated Islamic fixed income securities that comply with Shariah principles.

Fund Details

Investment strategy

The Fund seeks to achieve its investment objective by investing in a diversified portfolio of MYR denominated Islamic fixed income securities which consists primarily of Sukuk, GII and/ or GG.  The Fund will invest between 70% and 98% (both inclusive) of its NAV in Sukuk with a minimum credit rating of AA3 by RAM or AA- by MARC, in unrated GII and/ or unrated GG.  At least 2% of the Fund’s NAV will be maintained in Islamic liquid assets such as Islamic money market instruments and/or Islamic Deposits.

Asset Allocation

  • between 70% and 98% (both inclusive) of the Fund’s NAV will be invested in Sukuk, GII and/ or GG; and
  • at least 2% of the Fund’s NAV will be invested in Islamic liquid assets such as Islamic money market instruments and/or Islamic Deposits.
Benchmark



 		 Maybank 12-month General Investment Account for performance comparison purpose only.

Note: The information of the benchmark can be obtained from www.maybank2u.com.my.
 

Distribution Policy

Quarterly, depending on the availability of realised income and/or realised gains and at our discretion. We have the right to make provisions for reserves in respect of distribution of the Class. If the income available is too small or insignificant, any distribution may not be of benefit to you as the total cost to be incurred in any such distribution may be higher than the amount for distribution. We have the discretion to decide on the amount to be distributed to you. We also have the discretion to make income distribution on an ad-hoc basis, taking into consideration the level of its realised income and/or realised gains, as well as the performance of the Fund.

Minimum initial investment

MYR 25 million or such other amount as we may decide from time to time.
 

Minimum additional investment

MYR 1 million or such other amount as we may decide from time to time.
 

Cooling off period

You have six (6) Business Days after your initial investment (i.e. the date the complete application is received and accepted by us or any of our Distributors) to reconsider the appropriateness and suitability for your investment needs. Within this period, you may withdraw your investment at the same NAV per unit when the units were purchased or prevailing NAV per unit at the point of cooling-off (whichever is lower) (“Refund Amount”). We will pay the Refund Amount including the Application Fee (if any) to you in the currency of the respective Class within seven (7) Business Days from the date we receive the complete documentations. Please note that the cooling-off right is only given to first time investor investing with us or our Distributors. However, corporations/institutions, Principal Islamic Malaysia’s staff and person(s) registered with a body approved by the SC to deal in unit trust funds are not entitled to the cooling-off right. 

Minimum Withdrawal

MYR 250,000 or such other number of units as we may decide from time to time.
 

Minimum Balance

 1 million units or such other amount as we may decide from time to time.
 

Launch Date

13 August 2020.

Fund Fees

Application Fees

Nil
 

Management Fees

Up to 0.25% per annum of the NAV of the class
 
Trustee Fee





 		 Before 11 October 2023,
Up to 0.025% per annum of the NAV of the Fund, subject to a minimum fee of Ringgit Malaysia Twelve Thousand (MYR12,000.00) per annum.

After 11 October 2023,
Up to 0.025% per annum of the NAV of the Fund.
 

Switching Fees

Switching is treated as a withdrawal from a Class and an investment into another Class or Principal Islamic Malaysia’s fund (or its classes). As such, you may be charged a switching fee equal to the difference (if any) between the Application Fee of the Class and the Application Fee of the other Class or Principal Islamic Malaysia’s fund (or its classes). Switching fee will not be charged if the Class or Principal Islamic Malaysia’s fund (or its classes) to be switched into has a lower Application Fee. In addition, we may impose a MYR100 administrative fee for every switch. You may negotiate to lower the switching fee and/or administrative fees with us. We also have the discretion to waive the switching fee and/or administrative fees. 
 

Transfer Fees

A transfer fee of not more than MYR50 may be charged for each transfer.
 

Withdrawal Fees

Nil
 
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