OSK-UOB introduces $31mln fund for Privilege Banking clients

OSK-UOB Flexible China Solutions provides opportunities to tap the Chinese market for a minimum of $3,115 investment.

OSK-UOB Unit Trust Management Bhd on Tuesday launched a RM100 million ($31.15 million) umbrella fund -- OSK-UOB Flexible Equity China Solutions -- for its Privilege Banking clients.

Its chief executive officer/executive director, Ho Seng Yee, said the fund comprised two sub-funds -- OSK-UOB Flexifund Equity China "A" and OSK-UOB Flexifund Money Market Reminbi.

The umbrella fund is offered to investors with a minimum RM50,000 ($15,576) investment in OSK-UOB Flexifund Equity China "A" and a minimum of RM10,000 ($3,115) investment in OSK-UOB Flexifund Money Market Renminbi.

"The sub-funds are denominated in euro," he said at the launch of the fund in Kuala Lumpur on Tuesday.

To said the initial offer period of the umbrella fund, which consisted of 200 million units, would be from May 11 to May 31, 2010.

View the full story in Bernama.