BSN Dana Income Stream 1 to meet institutional investors' liquidity management needs
- December 17, 2024
- Posted by:
- Category: General
KUALA LUMPUR: Permodalan BSN Bhd (“PBSN” or “the Company”) a wholly owned subsidiary of Bank Simpanan Nasional (BSN) has launched its open-ended wholesale Islamic income fund, BSN Dana Income Stream 1 (“BDIS 1” or “the Fund”). The Fund is offered for Sophisticated Investors who are favoring consistent income stream and capital stability. The Fund aims to provide regular income that is potentially higher than the prevailing money market and traditional Fixed Deposits rate.
BDIS 1 is established to offer Shariah-compliant cash and liquidity management to investors, which may generate potential net returns of up to 3.6% per annum. The Fund also provides flexible liquidity management by offering between one to seven business days of redemption, and an opportunity for investors to look for quick access to funds.
To achieve its investment objective, the Fund aims to provide investors with a consistent income stream by invest a minimum of 30% of the fund’s net asset value (NAV) in ringgit-denominated sukuk with a minimum credit rating of AA3 by RAM or AA-by MARC or equivalent to other rating agencies and up to 70% of the Fund’s NAV in short-term Islamic money market instruments and Islamic deposits with financial institutions.
“With a target asset under management (AUM) of RM300mil in the next one year and we believe that the Fund will complement one of our strategies to diversify types of funds offering to the public as well as offering shariah-compliant solution to many institutional and corporate investors,” said Mohamad Hamdi Mohamad Khir, Chief Executive Officer of PBSN. Hamdi added, “we are optimistic of the positive outlook and the opportunities that we see based on the prevailing market situations with the launch of the Fund.” For more information, please log into www.pbsn.com.my or contact us at 03-2634 2200.