CIMB-Principal targets $100m multi-asset fund
The $14.5 billion Malaysian asset manager has launched a feeder fund into a global multi-asset product managed by Schroders to counter the low-rate domestic environment.
Malaysian fund house CIMB-Principal has moved to bring multi-asset exposure to local clients by launching a feeder fund investing into a global product managed by Schroders.
The firm, winner of AsianInvestor’s Asian fund house of the year in 2013, says it is seeking to capitalise on the low interest-rate environment, with Malaysian fixed deposits yielding 3-3.5%.
It aims to raise RM300 million ($91 million) for this fund by the end of fiscal 2014, says Munirah Khairuddin, who be…
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