AmInvest Unveils New Sukuk Fund, AmIncome Sofwah

AmInvest has unveiled its latest sukuk offering, AmIncome Sofwah (“Fund”), which aims to provide regular income via yearly income distribution.1 It invests principally in both local sukuk and Islamic money market instruments. AmInvest is the fund management brand under AmInvestment Bank.

Mr. Kevin Wong Weng Tuck, Principal Officer and Chief Investment Officer of AmIslamic Funds Management Sdn. Bhd., said, “After four successive cuts in 2020, the Overnight Policy Rate is at an all-time low of 1.75%. Interest rates are expected to remain low given the downside risks on Malaysian gross domestic product growth emanating from strict measures to contain the Covid-19 pandemic. The Fund provides an opportunity to potentially reap higher Shariah-compliant returns compared to a general investment account-i over the medium to long term.”

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