Kuala Lumpur - Affin Fund Management Berhad launched two of their latest money market funds, the AFFIN Islamic Money Market Fund and the Affin Money Market Fund today, officiated by its Chairman YBhg. Laksamana (B) Tan Sri Dato' Seri Abu Bakar bin Abdul Jamal.
Mohamad Ayob Abu Hassan, CEO, Affin Fund Management Berhad, in the introduction of the funds' highlights, pointed out the protection of investments and maximization of potential returns while enjoying the full benefits of liquidity and capital stability.
En Ayob said: "These new exciting money market funds provide investors with a short-term investment that yields potentially higher returns, is relatively safe where investments are made in high quality fixed income instruments with short maturity periods, high liquidity which allows investors to withdraw without a penalty and a flexible place for investors to retain their money while making other investments."
The funds offer a tax-friendly alternative to traditional bank deposits. It is managed and targeted at investors with a low risk appetite who desire a stream of income with a short-term investment horizon and an easy access to their funds.
Similar to deposits' accounts at the banks, Affin Islamic Money Market Fund and Affin Money Market Fund helps investors to generate regular income through investments primarily in the money market instruments for less than a year's duration. This provides investors the flexibility to redeem investments whenever the need arises.
En Ayob also said: "Our emphasis when managing the money market funds is to focus on safety, preservation of capital, liquidity and then yield. We strongly believe that investors can better position the cash portion of their portfolio for unanticipated and unwelcome changes in the marketplace by selecting investment managers who pursue a conservative, proven investment approach that focuses on capital preservation and liquidity ".
En Ayob further added:"AFFIN Islamic money market instruments can include Mudarabah Interbank Investment (MII), Wadiah Acceptance, Government Investment Issue (GII), Bank Negara Negotiable Notes (BNNN), Sell and Buy Back Agreement (SBBA), Cagamas Mudharabah Bonds (SMC), When Issue (WI), Islamic Accepted Bills (IAB), Islamic Negotiable Instruments (INI), Islamic Private Debt Securities, Ar Rahnu Agreement-I (RA-i), Sukuk BNM Ijarah (SBNMI) and Commodity Murabahah."
"And, AFFIN Money Market Fund's money market instruments can include Commercial Paper, Repurchase Agreements, Short-term Bonds, Negotiable Instrument of Deposit, Private Debt Securities, Malaysia Government Securities (MGS), Cagamas, Treasury and Bank Negara Bills ".
Information on Affin Islamic Money Market Fund and Affin Money Market Fund is available from: Denise Wong Affin Fund Management Berhad Tel: 03-2027 5800 Fax: 03-2144 4953 DID: 03-2027 5933 Mobile: 012-2295 911 Email: denise@affinfund.com.my