Philip Master Equity Growth Fund relaunched

Philip Mutual Bhd (PMB) has relaunched its Philip Master Equity Growth Fund (PMEGF), amid improving investors’ sentiment and optimism in the recovery of the global economy.

In a press release yesterday, it said the fund, which was first launched in 2003, would have a refined investment strategy where its portfolio would comprise three components: core stocks, high-growth stocks and trading stocks.

Currently, PMEGF is managed by Philip Capital Management Sdn Bhd chief investment officer Ang Kok Heng. Philip Capital Management and Philip Mutual is the local unit of Singapore-based Philip Capital Group.

Commenting on the relaunching of the fund, Ang said: “The equity markets have staged a strong comeback, and easy money has been made along the way. At the current levels, valuations have reached close to their historical levels and going forward, more emphasis will have to be placed on the appropriate strategy.”

Ang said the core stocks component that the PMEGF would invest in would consist of big-cap index-linked stocks that are industry leaders with strong management track record and solid financial records. The component also functioned as the overall fund stabiliser in view of the volatile nature of growth stocks and trading stocks components, respectively.

Additionally, PMEGF’s growth stocks component not only invests in stocks that are deemed to have strong earnings growth potential, but also according to thematic patterns.

“Currently, the theme investment is on the CONSTRUCTION [] sector. Construction counters are expected to be the main beneficiary of the government’s initiative to pump-prime the economy,” Ang said.

The trading stocks component would be chosen based on technical readings of fundamentally reasonable stocks.

Meanwhile, Philip Mutual management had announced that clients that invested in the PMEGF during the promotional period between Oct 2 and Nov 30 would receive 0.5% bonus units.