Business

Affin Fund Management aims to exceed RM3b in assets

KUALA LUMPUR, Jan 30 – Affin Fund Management Bhd hopes to surpass RM3 billion in assets under management (AUM) by year-end to be driven largely by three new funds launched today.

Chief executive officer Datuk Mohamad Ayob Abu Hassan said as at Dec 31, 2012, its AUM stood at RM1.93 billion.

He said the three new funds – 2-iWholesale fund, 3-iWholesale Fund and the 4-iWholesale Fund – would create an additional RM1.5 billion to the current AUM.

“We are certainly confident in propelling further ahead, scaling new heights and reaching the RM3 billion mark,” he told reporters after launching the funds and the company’s corporate icon rebranding.

He said having commenced operations with initial three unit trust funds and AUM of RM267.4 million, Affin Fund currently offered 13 unit trust funds which included, among others, equities, fixed income, money market and wholesale funds with AUM of RM1.93 billion.

“We expect to raise RM500 million each from the three funds,” he said.

Mohamad Ayob said the group also aimed to emerge among the top 10 investment management company in Malaysia from its current 13th ranking.

“We think with only three ranks behind the top 10, we will be able to break into the top 10 target in the coming future,” he said. – Bernama

 

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