BIMB Invest in partnership with CIMB Group for new ESG fund

Institution : Bank Islam Malaysia Berhad
13 March, 2019      347



KUALA LUMPUR: BIMB Investment Management Bhd (BIMB Invest), a wholly-owned subsidiary of Bank Islam Malaysia Bhd, is targeting RM1 billion subscription for its BIMB-Arabesque i Global Dividend Fund 1 this year.

The BIMB-Arabesque i Global Dividend Fund 1 is unique as it is a Shariah and Environmental, Social and Governance principles (ESG)-based fund.

It also uses the latest robotic technology to generate a strong investment performance potential with optimal risk management.

Chief executive Najmuddin Mohd Lutfi is confident of achieving the target given the current size of the fund is at RM800 million.

"The fund had been approved for subscription in Singapore earlier this year and we are aiming to enter other markets such as Indonesia and Brunei next year,” he said at a media briefing earlier today.

In order to increase the BIMB-Arabesque i Global Dividend Fund 1 subscription, BIMB Invest is collaborating with CIMB Group whereby customers can subscribe to the fund through all CIMB Bank and CIMB Islamic Bank branches in the country.

In addition to CIMB, BIMB Invest also has partnerships with other financial providers in the country including Maybank Group, Affin Bank, Alliance Islamic Bank and its parent company, Bank Islam.

Najmuddin said that at present, the firm is also in talks to work with three other financial providers which comprises both local and foreign financial providers.

The minimum subscription for BIMB-Arabesque i Global Dividend Fund 1 fund starts from RM30,000, with no maximum set limit.

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