KUALA LUMPUR – Affin Hwang Asset Management Berhad (“Affin Hwang AM” or “the Company”) announced today the launch of Affin Hwang World Series – Next Generation Technology Fund (“the Fund”) further expanding its suite of tech fund offerings. The Fund is a wholesale feeder growth fund that provides access to opportunities in the tech universe outside of mega cap names by capturing emerging innovative leaders.
The Fund will feed into a collective investment scheme, namely BlackRock Global Funds - Next Generation Technology Fund (“Target Fund”) which is managed by BlackRock (“Target Fund Manager”). To achieve its investment objective, the Fund will invest a minimum of 80% of the Fund’s net asset value (NAV) into the Target Fund and a maximum of 20% of the Fund’s NAV into money market instruments, deposits and/or cash.
Chan Ai Mei, Chief Marketing & Distribution Officer of Affin Hwang AM said, “The pandemic has accelerated the adoption of technology across different platforms whether it is e-commerce, cloud computing or artificial intelligence (AI). Technology names were one of the biggest winners in 2020 driven by ample liquidity which led the market recovery.”
“For investors seeking differentiated exposure in the technology space, the Fund’s unique strategy allows investors to diversify outside of well-established mega cap names. By focusing on emerging hyper-growth companies leading the digital wave, the Fund provides investors an avenue to tap into growth opportunities in a growing tech universe,” Ai Mei said.
With interest rates expected to stay lower-for-longer, Ai Mei adds that there has been strong interest from investors looking to diversify and participate in long-term structural themes such as technology with multi-year growth trajectories. Since inception of the Target Fund in 2018, it has delivered an annualised return of 44.6% p.a. and total return of 115.3% in the calendar year 20201.
Tony Kim, BlackRock Portfolio Manager and Head of the Fundamental Equities Technology Team believes that innovation leaps in technology, such as next generation silicon or the cloud computing stack, have driven the growth of the sector in recent years. BlackRock continues to see healthy fundamental demand and secular growth in the sector, giving us conviction in the ability for technology companies to continue growing in the near and long term.
The Fund is available to Sophisticated Investors who seek capital appreciation, have a medium to long-term investment horizon and have a high risk tolerance. The Base Currency of the Fund is in USD. The Fund is offered in four (4) currency classes, namely USD Class, MYR-Hedged Class, SGD-Hedged Class and AUD Hedged-Class. The minimum investment amount is $5,000 for all listed currency classes.
Investors are advised to read and understand the contents of the Fund’s Product Highlights Sheet and Information Memorandum dated 5 January 2021 before investing. Investors who are keen to learn more about the Fund can visit http://affinhwangam.com/ and invest through any of Affin Hwang AM sales offices.
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