MALAYSIA: BIMB Investment Management launched a Shariah wholesale income fund benchmarked to the one-month term deposit-i Tawarruq profit rate of Bank Islam. This actively-managed Al-Rawha Income Fund will invest at least 30% in short-term Sukuk and Islamic money market instruments, while up to 70% can be held in cash and Islamic deposits. Initial entry is RM30,000 (US$7,650), with additional subscriptions in RM10,000 (US$2,550) multiples. The fund aims to distribute income monthly.
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