MAYBANK ASSET MANAGEMENT APPOINTS OCBC MALAYSIA AS DISTRIBUTION PARTNER FOR INVESTMENT SOLUTIONS
(From Left) Syhiful Zamri, Chief Investment Officer of Maybank Asset Management Sdn Bhd; Ahmed Muzni, Chief Executive Officer of Maybank Islamic Asset Management Sdn Bhd; Ahmad Najib Nazlan, Chief Executive Officer of Maybank Asset Management Sdn Bhd; Dato' Ong Eng Bin, Chief Executive Officer of OCBC Bank Malaysia Berhad, Syed Abdull Aziz Syed Kechik,Chief Executive Officer of OCBC Al-Amin Bank Berhad and Anne Leh, OCBC Bank Managing Director & Head of Consumer Financial Services Commemorating the Distribution Partnership.
KUALA LUMPUR, 18 OCTOBER 2021 – Maybank Asset Management Sdn Bhd (MAM Malaysia) announced today the appointment of OCBC Malaysia which comprises OCBC Bank (Malaysia) Berhad (OCBC Bank) and its Islamic banking subsidiary OCBC Al-Amin Bank Berhad (OCBC Al-Amin) as its new distribution partner. With this, MAM Malaysia funds are now available to OCBC Malaysia’s clients.
Ahmad Najib Nazlan, Chief Executive Officer of MAM Malaysia, said, “We are proud to welcome OCBC Malaysia as an esteemed business partner in our expanding distribution network. This collaboration brings together MAM Malaysia and OCBC Malaysia’s strengths to add value to OCBC Malaysia’s clientele while increasing our reach to more investors.”
He stressed, “With OCBC Malaysia’s distribution coverage combined with Maybank Asset Management Group’s investment expertise and experience, we are ready to offer OCBC’s clientele our innovative investment solutions and services. Through our collaboration, we also aim to increase Environmental, Social and Governance (ESG) awareness among investors, complemented by MAM Malaysia’s range of ESG-related and sustainable investment funds. Sustainability is not a mere a buzzword but key to a better future for the world, and the centre stage of MAM Malaysia’s business plans. Hence, our partnership will also emphasise sustainable investing which seeks to deliver both financial and purpose-driven outcomes.”
Ahmad Najib added, “At MAM Malaysia, we strive to provide attractive investment options and strategies to assist our investors in diversifying and optimise their portfolios. Hence, we are excited to kick start our new partnership by offering our Maybank Singapore REITs Fund, one of our best performing flagship funds, to OCBC Malaysia’s investors. The Maybank Singapore REITs Fund is unique because it is currently the only Singapore REITS fund in the market.”
Singapore has carved a name for itself as an international listing hub for REITS with 80% of SREITS holding property outside Singapore, e.g. in the US, Europe, Hong Kong, China, Australia and India. The SREITS market is the second-largest REITs market in Asia with over forty (40) investable REITs, and one of the highest yielding REITS in the world with an average yield of 5% p.a.
The Maybank Singapore REITs fund provides exposure to Tier 1 retail estate, acts as an inflation hedge and focuses on income generation, with an income distribution track record of 5.13% p.a.*, paid semi-annually since its launch in 2018. The SREITs market is primed for recovery as Singapore has crossed an important milestone with 80% of its population fully vaccinated. Sentiment towards the sector also improved after the United States Federal Reserve clarified its guidance to keep interest rates low. Furthermore, select small and mid-cap SREITS are expected to benefit from higher fund flows following their inclusion into a major property index last week.
Commenting on the partnership, OCBC Bank Managing Director & Head of Consumer Financial Services, Ms Anne Leh said the Bank is looking to expand its range of ESG-themed investment offerings as part of its plan to increase its stable of green financing and investment options.
“While we will distribute a range of investment solutions from Maybank Asset Management, our ultimate quest is to feature more of those with sustainable features. The retail part of our sustainability journey is part of the Bank’s overall integrated ESG strategy, which is in turn part of the OCBC Group “S$25 billion by 2025” strategy. OCBC Group has also set a 2025 target for having at least 80% of its total investment AUM for Consumer Banking recognised as sustainable investments and is currently on track with more than half of its current investment AUM recognised as such today. “Over time, we hope our partnership with Maybank Asset Management will strengthen our overall ESG-themed offerings which are very much on our radar as it is for our sustainable-savvy investors. Plans are in the pipeline with Maybank Asset Management to offer ESG-themed investment in the near future. For now, we are pleased to be on-board for the rollout of the Maybank Singapore REITs Fund. We trust this REIT will whet the appetite of our customers who are seeking to tap into the sole Singapore REIT fund in the market,” she said.
*Source: Maybank Asset Management Sdn Bhd, July 2021
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