MAAKL Mutual To Launch Its First REIT Fund

MAAKL Mutual is expected to launch its first real estate investment trust (REIT) fund,the MAAKL Asia-Pacific REIT Fund (MAPREIT) today. 

MAAKL Mutual chief executive officer Wong Boon Choy said the fund’s manager would focus on 13 countries –China,Hong Kong,Indonesia,South Korea,Malaysia,the Philippines,Singapore,Taiwan,Thailand,Australia,Japan,India and New Zealand.  This fund would  focus primarily on REITs and infrastructure funds or trusts that are listed on approved Asia-Pacific stock exchanges

• MAPREIT will invest up to 98% of its net asset value in Asia-Pacific REITs and infrastructure funds or trusts. 

• A minimum 50% must be invested in Asia-Pacific REITs at all times,while the balance can be invested in infrastructure funds or trusts. 

• MAPREIT has a fund size of 200 million units priced at 25 sen per unit during the offer period to June 27. 

• The minimum initial investment is RM1,000 while the minimum additional investment is RM100. (7/6/07-The Star

  Malaysia)

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