PHBAM aims to scale AHB fund to RM20 bil by 2030

• PHBAM, the wholly-owned subsidiary of Pelaburan Hartanah Bhd (PHB), is replacing Maybank Asset Management Sdn Bhd (MAM) as the manager for AHB fund. Meanwhile, PHB and AmanahRaya Trustees Bhd will continue to be the sponsor and trustee respectively for the AHB fund.

KUALA LUMPUR (July 1): With the appointment as the new manager of Amanah Hartanah Bumiputera (AHB) fund effective Monday, PHB Asset Management Bhd (PHBAM) announced that it will scale the AHB fund from RM5 billion to RM20 billion by 2030.

According to the press statement issued on Monday, PHBAM, the wholly-owned subsidiary of Pelaburan Hartanah Bhd (PHB), is replacing Maybank Asset Management Sdn Bhd (MAM) as the manager for AHB fund. Meanwhile, PHB and AmanahRaya Trustees Bhd will continue to be the sponsor and trustee respectively for the AHB fund.

All transactions for the AHB fund remain accessible at Maybank, AmBank, AmBank Islamic and Bank Islam branches nationwide, as well as through Maybank2u, exclusively available for Maybank customers.

“PHBAM strives for operational excellence and financial inclusivity by synthesising information technology with the expertise and competence of financial capital market professionals. This strategy aligns with PHB's long-term objective, as PHBAM is set to scale the AHB fund from RM5 billion to RM20 billion by 2030 by introducing a digital distribution strategy to provide greater and effortless access to underserved Bumiputera communities,” PHBAM said in the statement.

To achieve the goal, the fund manager plans to enhance the value proposition of AHB fund by providing a holistic financial service under one product through the integration of additional solutions, such as takaful, hibah waqf and legacy planning. This initiative is intended to offer AHB unitholders a more structured approach to wealth creation and distribution.

"PHBAM positions itself as a niche player with a distinct focus on providing real estate-backed fund investment solutions. Our primary objective aligns closely with PHB’s mandate to increase the capacity and wealth of Bumiputera through commercial real estate participation and ownership,” said PHBAM CEO Zulkifli Ishak in the statement.

AHB fund is a Shariah-compliant unit trust that invests primarily in the beneficial ownership of commercial properties in prime locations in Malaysia. It has grown from RM1 billion in 2010 to RM5 billion in 2023, benefiting over 80,000 unitholders in terms of wealth generation. With its fixed-price structure and zakat-deducted semi-annual profit distributions, AHB offers financial planning products such as education savings and serves as a vehicle for retirement funds.

Meanwhile, PHBAM received a Capital Markets Services Licence from the Securities Commission Malaysia on April 22, 2024 for fund management and dealing in securities for unit trusts.

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