Malaysia ' Public Mutual, a wholly owned subsidiary of Public Bank , has launched an Islamic equity fund called the Public Islamic Growth & Income Fund that will invest in a diversified portfolio of growth and dividend stocks primarily in Malaysia . "The prospects for growth and dividend stocks listed on Bursa Malaysia are generally resilient as the broad base of the Malaysian economy offers opportunities for these two different types of companies to thrive in. Share prices of growth companies may be more volatile than the broad market as these companies are focused on achieving strong earnings growth," Yeoh Kim Hong , CEO of Public Mutual said. "As PISGIF focuses its investment primarily in the domestic market, it offers investors an opportunity to capitalise on Malaysia's economic growth prospects in the medium to long term," she added. The equity exposure of the fund will range from 75 per cent to 98 per cent of its net asset value. The fund can also invest in Sukuk and Islamic money market instruments. To achieve increased diversification, it may invest up to 25 per cent of its NAV in selected foreign markets including China , South Korea , Japan , Taiwan , Hong Kong , Singapore, Indonesia , Laos , Thailand and the Philippines .
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