when will this fund start? i saw the price now still stuck at 25cent not moving.

Should have started on 11 December since the last day for initial offer was 10 December.

Yesterday NAV dropped 0.0004 to close at 0.2496

Because it is not a local fund, that's why they only update the pricing next day.

Public Mutual sold about RM1 billion of its first China Islamic fund

Public Bank's wholly-owned subsidiary, Public Mutual announced that about RM1 billion worth of units of its recently launched Public China Ittikal Fund (PCIF) were sold during its offer period which ended on 10 December 2007. PCIF was launched on 20 November 2007.

Chief Executive Officer Yeoh Kim Hong said the demand for PCIF has been overwhelming and the company has increased the fund size of PCIF to 5 billion units to cater to the robust demand of this fund. "The fund received good response as this is the first China Islamic fund in the country that offers investors the opportunity to ride on the solid growth prospects of the Greater China region," she explained.

She continues to say that the Greater China region which encompasses China, Hong Kong and Taiwan presents significant growth opportunities. The Chinese economy is projected to grow steadily at 11.2% for 2007 and 10.6% for 2008, supported by resilient domestic consumption, investment and exports. "China has emerged as a major growth engine for this region apart from the U.S with real Gross Domestic Product (GDP) growth sustained at a robust pace averaging 9.2% annually. Driven by strong domestic demand and robust tourist arrivals, Hong Kong's GDP growth is set to expand at above 5% for 2007/2008. Meanwhile, GDP growth for Taiwan is projected at above 4% for 2007/2008 amidst resilient investment spending and global demand for electronic products," she added.

PCIF is an Islamic equity fund that seeks to achieve capital growth over the medium- to long-term period by investing in a portfolio of Shariah-compliant investments in the Greater China region and the balance in the domestic market. The fund will invest a minimum of 70% of its net asset value (NAV) in the Greater China region namely in China, Hong Kong and Taiwan stocks.

She added that PCIF is suitable for aggressive investors who can withstand extended periods of market highs and lows to achieve medium- to long-term capital growth for their investments.

PCIF is distributed by Public Mutual's unit trust consultants.

Public Mutual is the largest private unit trust company in Malaysia and it currently manages 54 funds for more than 1,350,000 accountholders. As at 30 November 2007, the total net asset value of the funds managed by the company was RM27.4 billion.

URL: http://www.publicmutual.com.my/article.aspx?id=6413

Really record breaking for PM, way to go

What is so record breaking?

i have noob question here...

i got a pm fund and wanted to switch to this fund. so i need to initially open this fund (put 1k there) or just can switch to this.. please somebody help me????

just switch if that fund is public series. only need u to fill in a form, thats all.

hey..
i hv notice tis few day..Itik Fund.
alwis dropped..
havent seem it raise before..

isit the fund..not stable yet still..

The fund is still plus China and global market are affected by US economy. This behaviour is normal. PCIF tracks closely to HSI, TWII and HSCEI performance.

If you switch using the switching form, then you do not need to have an existing account in this fund.
If you are switching using telemutual, then you need an account first

It is not that the fund is unstable. It is mainly because global equity markets are on a downtrend.

Ititkan fund was in a downtrail now,
from 0.25unit dropped till 0.211

oh my god,i wonder will it keep on dropping?

i had my 10k on it..

why the market are so downtrend now

China market is very volatile. The other two cousins fund are experiencing the same fate too - PCSF and PBCPEF.

will it be dropped until low rate?

will my money investment to this fund will gone case??

wat is the maximum rate,it will dropped until,i saw some fund with dropped until 1.888 on it.

when it will be raise up again.

oh my,i am worried abt it

This post has been edited by kokanchai: Jan 25 2008, 08:22 AM

It's hard to predict. China market is having a roller coaster ride and the government is intervening the market more and more.

One thing for sure is, your investment won't be obsolute
Currently, we're experiencing some volatility, so we should bear with it.
It is not something that will go on forever, and I'm sure before you invest in any funds, your agent would advise you for at least the medium term.
When will the fund appreciate, it is a matter of time. It will depend on the market itself.