Public Bank’s wholly-owned subsidiary, Public Mutual, is launching a new fund named PB U.S. Eagle Fund (PBUSEF) on 5 January 2021.
PBUSEF is the first foreign equity fund under the PB Series of Funds which focuses its investments in the U.S. market. The Fund aims to achieve long-term capital growth by investing 75% to 98% of its net asset value (NAV) in equities comprising blue chip stocks, index stocks and growth stocks primarily in the U.S. market, with the balance invested in fixed income securities and liquid assets.
U.S. real gross domestic product (GDP) is projected to grow by 3.8%1 in 2021 as consumer and investment spending recovers on the back of economic stimulus packages as well as the Federal Reserve’s monetary easing measures amounting to USD2.7 trillion. The potential rollout of an effective Covid-19 vaccine in 2021 and a gradual normalisation in business activities will also help to support the economic recovery.
Meanwhile, corporate earnings in the U.S. are forecast to rebound by 22.1%2 in 2021 after contracting by 14.5%2 in 2020. U.S. firms are global leaders in the new growth areas of biotechnology, fintech, cloud computing and autonomous driving. In addition, the U.S. market comprises a large number of multinational companies which have geographically-diversified revenue streams and are leveraged to growth opportunities across the global economy.
The initial issue price for PBUSEF is RM0.2500 per unit during the 21-day initial offer period from 5 to 25 January 2021. The minimum initial investment amount is RM1,000 while the minimum additional investment amount is only RM100.
For more details on the Fund, please contact Public Bank’s Financial Executives at any branch nationwide or call Public Bank’s toll-free number at 1800-22-9999 during working hours.
Public Mutual is Malaysia’s largest private unit trust company with more than 160 funds under its management. It is also an approved Private Retirement Scheme (PRS) provider, managing nine PRS funds. It has a total of 31 branches/customer service centres nationwide. As at end-November 2020, the fund size managed by the Company was RM98.1 billion.
1 Bloomberg consensus
2 Factset Earnings Insight as at 13 November 2020
Investors are advised to read and understand the contents of the Prospectus of PB U.S. Eagle Fund dated 5 January 2021 and the fund’s Product Highlights Sheet (PHS) before investing. Investors should understand the risks of the fund and compare and consider the fees, charges and costs involved in investing in the fund. A copy of the Prospectus and PHS can be viewed at our website www.publicmutual.com.my. Investors should make their own assessment of the merits and risks of the investment. If in doubt, investors should seek professional advice. Please refer to www.publicmutual.com.my for our investment disclaimer.