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Public Bank to launch equity fund


March 1, 2008

Public Bank to launch equity fund

Malaysia's Public Bank said here on Thursday that it would launch the PB China-Asean Equity Fund (PBCAEF) to capitalize on growth prospects in China and the Asean, Xinhua reported.

The fund will seek to achieve capital growth over the medium to long-term period by investing in a diversified portfolio.

A minimum of 50 percent of PBCAEF's net asset value will be invested in China stocks listed on the Chinese mainland, Hong Kong, the United States and other approved markets, said Public Mutual, a wholly-owned subsidiary of Public Bank which will manage the PBCAEF.

The fund reportedly is scheduled to be launched on March 5 this year.

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