KUALA LUMPUR: CIMB-Principal Asset Management Bhd expects to raise RM300mil in sales from its newly-launched CIMB-Principal Preferred Securities Fund (PSF) this year. Chief executive officer Munirah Khairuddin said the preferred securities potentially offered attractive yields, especially in an environment with low interest rates and heightened volatility. “As a unique asset class, preferred securities share the characteristics of both equities and bonds, but exhibit a relatively low correlation to both traditional fixed income and equity categories. The CIMB-Principal PSF invests in a portfolio of diversified preferred securities for potential income returns and long-term capital preservation. The asset management arm of CIMB Group has also recently launched two other funds – the CIMB-Principal Emerging Market Multi Asset Fund and CIMB-Principal Asia Pacific Dynamic Mixed Asset Fund for investors with a moderate risk profile.

Source: The Star February 05, 2017 23:26 UTC