Tuesday, March 23, 2010

Launching of New Fund – CIMB-Principal Australian Equity Fund

We are pleased to introduce our new fund – CIMB-Principal Australian Equity Fund.  The fund will be opened for sales starting from 20 March 2010 (Initial Offer Period: 20 March 2010 – 9 April 2010).

The Fund aims to achieve medium to long term capital appreciation predominantly through investment in a portfolio of Australian securities. This fund is suitable for investors who:
§      are looking to participate in the upside potential of Australian market;
§      want medium to long-term capital appreciation with income being secondary; and
§      want to invest in a fund managed by an established international fund manager.

It is Feeder Fund which invests at least 95% of its NAV in the Schroder Australian Equity Fund ('the Target Fund'); an Australian-domiciled fund established on 3rd March 1964 which invests primarily in Australian equities, with an emphasis on stocks that are able to grow shareholder value in the long term. The Fund will also maintain up to a maximum of 5% of its NAV in liquid assets.

Please take note that this Fund is open for CASH sales only.  The minimum initial investment in the Fund is RM1,000 and the minimum additional investment in the Fund is RM200.

The fund's details and fee structure is as follows:

Fund ID
Fund Abbreviation
Application Fee
Up to 6.5%
Management Fee
Up to 1.80% p.a.
Trustee Fee
0.08% p.a. (min RM18,000 p.a.)
Withdrawal Fee
Up to 1.0% (chargeable within 3 months from the commencement date – 10 April 2010)

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