PHBAM APPOINTED AS AHB FUND MANAGER; TO INCREASE FUND TO RM20 BLN BY 2030

KUALA LUMPUR, July 1 (Bernama) -- Pelaburan Hartanah Bhd’s (PHB) wholly-owned subsidiary, PHB Asset Management Bhd (PHBAM) has been appointed as the new manager of Amanah Hartanah Bumiputera (AHB) effective today, taking over from Maybank Asset Management Sdn Bhd.

In a statement, PHBAM said it is set to increase AHB’s fund from RM5 billion to RM20 billion by 2030 by introducing a digital distribution strategy to provide greater and effortless access to underserved Bumiputera communities. 

AHB fund is a Shariah-compliant unit trust that invests primarily in the beneficial ownership of commercial properties in prime locations in Malaysia.

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"The company aims to enhance the value proposition of AHB fund by providing a holistic financial service under one product by integrating additional solutions, such as takaful, hibah, waqf, and legacy planning.

"This initiative aims to offer AHB unitholders a more structured approach to wealth creation and distribution," it said. 

Additionally, all transactions for the AHB fund remain accessible at Maybank, AmBank, AmBank Islamic, and Bank Islam branches nationwide, as well as through Maybank’s mobile app, exclusively available for Maybank customers.

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PHBAM chief executive officer Zulkifli Ishak said with its fixed-price structure and zakat-deducted semi-annual profit distributions, AHB is ideal for investors pursuing financial planning, including education savings and as a vehicle for retirement funds.

"AHB has grown from RM1 billion in 2010 to RM5 billion in 2023, benefiting over 80,000 unitholders in terms of wealth generation," he said.

Meanwhile, PHB and AmanahRaya Trustees Bhd will continue to be the sponsor and trustee, respectively, for AHB fund.

On April 22, PHBAM received a Capital Markets Services License from the Securities Commission Malaysia for fund management and dealing in securities for unit trusts.

-- BERNAMA