Kuala Lumpur: CIMB-Principal Asset Management Berhad has obtained approval to increase the size of the CIMB Islamic Money Market Fund to 225 million units from 150 million units. This is the second increase for the fund following its last increase on 12 August 2008. The Shariah-compliant Fund attracted a broad base of investors as it aims to provide monthly distribution to investors. The fund is a convenient parking facility where investors can temporarily place their cash whilst re-assessing their investment strategy and deciding when they would like to actively return to the market.

Chief Executive Officer, J. Campbell Tupling stated: “Since its launch in March 2008, the Fund has been popular with investors. As a tax-friendly alternative to traditional bank deposits, the Fund seeks to provide investors with potentially higher returns without compromising accessibility to their cash, allowing investors to withdraw anytime without penalty.”

The CIMB Islamic Money Market Fund aims to provide investors with liquidity and regular income while maintaining capital stability by investing primarily in money market instruments that conform with Shariah principles. The Fund is distributed by CIMB Wealth Advisors, CIMB Private Banking, CIMB Bank and Standard Chartered Bank.

Read articles below which appeared in major dailies:

• Malaysian Reserve
• New Straits Times
• The Edge Financial Daily
• Utusan Malaysia

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