Public Bank to invest in Malaysian growth stocks

Public Bank will invest in a diversified portfolio of primarily local equities to achieve capital growth over the medium- to long-term period through its new equity fund, PB Growth Sequel Fund.

The fund will be managed by Public Bank's wholly-owned subsidiary, Public Mutual.

"Some of the sectors that the fund would focus on include financial, communications, industrial and consumer sectors," Public Bank announced.

Public Bank said that to achieve increased diversification, PBGSQF might invest up to 30 per cent of its net asset value) in selected foreign markets.

"It includes Singapore, Taiwan, South Korea, Japan, Hong Kong, China, Thailand, Indonesia, Philippines, Luxembourg and other permitted markets," it said.

The bank said the equity exposure of PBGSQF will generally range from 70 per cent to 98 per cent of its NAV.

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