Avenue Invest Berhad launched a new money market fund that invests in short term deposits in Malaysian licensed financial institutions. This fund is suitable for who needs to temporarily park their cash portion while waiting for equity market upswing as well as for those with very low risk tolerence.
The minimum initial investment amount is RM100,000 and minimum additional investment is RM50,000. The annual management fee is 0.3% while the trustee fee is 0.08%.
With such a large initial investment amount, i guess this fund is probably out of reach for most of the end customers. This fund is likely to attract investments from high net worth clients or commercial institutions.
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