Following its rebranding from Inter-Pacific Asset Management, Berjaya Mutual is eyeing the launch of Shariah compliant products with a Waqf focus in the near future.
“This will allow our investors to not only invest to earn returns for themselves, but also give them a chance to contribute via Waqf,” said CEO Eugene Chew Boon Chye.
The Waqf fund offering is in addition to the eight new products the firm has in its 2024 pipeline, with three already launched — increasing its assets under management (AuM) by RM100 million (US$21.27 million).
These products are designed to invest in a diversified portfolio and are expected to yield returns ranging from 6% to 8% per annum.
The remaining five products will be introduced gradually throughout the year, focusing on foreign equity and fixed-income securities with targeted AuM of RM200 million (US$42.53 million).
These products prioritize returns and aim to facilitate steady growth in wealth accumulation and preservation.
Berjaya Mutual is vying to become among the top asset management firms in Malaysia, targeting its AuM rising to RM5 billion (US$1.06 billion) by 2026 from RM1.2 billion (US$255.06 million) currently.
