PETALING JAYA: Al Rajhi Bank Malaysia (ARBM) has partnered with Nomura Asset Management Malaysia to increase its syariah investment offering, as part of the bank’s ambition to become the number one Islamic innovation bank in Malaysia.
Through this collaboration, ARBM will increase its product diversification, fill product gaps and increase offerings to meet customers’ demands.
As part of this partnership, ARBM will distribute three Nomura funds namely the Nomura Global
Shariah Semiconductor Equity Fund, Nomura Global Shariah Strategic Growth Fund and Nomura iIncome Fund.
With the funds from Nomura Asset Management Malaysia, ARBM’s customers will have more options to opt for them to meet their long-term financial goals. In addition, with the combination of global equity fund and a fixed income fund, investors will have the opportunity to diversify their investment portfolios as well. Customers will be able to purchase the Nomura funds at all Al Rajhi Bank Malaysia branches starting Oct 21, 2022.
Al Rajhi Bank Malaysia CEO Arsalaan (Oz) Ahmed (pix) said this marks its first partnership with Nomura Asset Management.
“This collaboration will offer our customers a wider selection of syariah-compliant funds that have been selected for growth based on the digital and Islamic finance trends. More importantly, this partnership will further enable ARBM to further expand our product offerings to our clients in line with the latest market trends and demands in Islamic finance,” he said in a statement yesterday.
Nomura Global Shariah Semiconductor Equity Fund, launched in July 2022, is for investors who are
seeking long-term capital growth and opportunities from companies globally involved in the
manufacturing ecosystem of semiconductors that are Shariah compliant with a high-risk tolerance.
As for Nomura Global Shariah Strategic Growth Fund, the fund’s objective is to achieve long-term capital growth, primarily through the fund’s investments in foreign syariah-compliant equities, sukuk, Islamic collective investment schemes and Islamic money market instruments. Furthermore, for Nomura iIncome Fund, the fund seeks to provide investors with regular income distribution through investments in Islamic deposits, Islamic money market instruments and sukuk.
Nomura Asset Management Malaysia recently celebrated its 15th year anniversary and currently manages around RM30 billion worth of assets under management (AUM) for corporate and retail investors. Nomura Asset Management Malaysia is part of 14 global offices and is headquartered in Tokyo, Japan. It continues to innovate and offer investors opportunities to invest in assets with strong potential for growth and long runways.
Nomura Asset Management Malaysia managing director and country head Leslie Yap said the
partnership will bring together Nomura Asset Management Malaysia’s and Al Rajhi Bank’s strength to deliver value to Al Rajhi Bank’s clients while expanding Nomura Asset Management Malaysia’s reach to more investors.
“We bring our syariah funds to more Malaysian investors through the partnership with Al Rajhi Bank as we continue to improve local investor access and to cater to the growing appreciation for Islamic investing. By offering funds with different asset classes, we will be able to provide more investment opportunities for Al Rajhi Bank to diversify their portfolio to meet their long-term financial goals,” said Yap.