Principal Islamic Wholesale Sukuk Fund (Class B)
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 Ringgit 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
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| Benchmark | Maybank 12-month General Investment Account for performance comparison purpose only. |
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Distribution Policy |
Class A, Class B and Class C 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. |
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Minimum initial investment |
MYR 25 million or such other amount as we may decide from time to time. |
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Minimum additional investment |
MYR 1 million or such other amount as we may decide from time to time. |
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Cooling off period |
Six (6) Business Days from the date the application form is received and accepted by us or our Distributors from the first time investor. However, Principal Asset Management’s staff and person(s) registered to deal in unit trust of Principal Asset Management or any Distributors are not entitled to the cooling-off right. |
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Minimum Withdrawal |
MYR 250,000 or such other amount as we may decide from time to time. |
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Minimum Balance |
1 million units or such other amount as we may decide from time to time. |
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Launch Date |
13 August 2020. |
Fund Fees
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Application Fees |
Nil |
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Management Fees |
Up to 0.25% per annum of the NAV of the class |
| Trustee Fee | Up to 0.025% per annum of the NAV of the Fund, subject to a minimum fee of Ringgit Malaysia Twelve Thousand (RM12,000.00) per annum. |
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Switching Fees |
Investors will be charged a Switching Fee equal to the difference (if any) between the Application Fee of the Class and the Application Fee of other Class or Principal Islamic Fund's (or its classes). |
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Transfer Fees |
A Transfer Fee of not more than RM50 may be charged for each transfer. |
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Withdrawal Fees |
Nil |
