RHB Asset Management launches a new Shariah-compliant fund product focused on the Asia-Pacific's strong economic growth.

RHB Asset Management, the Malaysian financial services firm, has launched a new fund that is designed to ride on Asia-Pacific's economic growth. 

The RHB-OSK Islamic Regional Balanced Fund is the latest addition to the firm's ten existing Islamic funds and aims to offer regular income from a diversified portfolio of both local and foreign Shariah-compliant investments, according to a statement. 

The fund will invest between 40 per cent and up to 60 per cent of its net asset value in Shariah-compliant equities and non-equity Shariah compliant investments. It may also invest all of its NAV in selected foreign markets within the Asia-Pacific region, including China, Hong Kong, India, Indonesia, South Korea, Singapore, the Philippines, Taiwan, Thailand, Australia, New Zealand and Japan. 

The initial minimum investment is MYR1,000 (approx $310) during the 21-day initial offer starting 8 April 2014.