CIMB Islamic Short Term Sukuk Fund (formerly Lifetime Dana Fayyad)
Fund Type: Fixed-Income (Shariah) / Income
To provide investors with an income yielding liquid investment, which conforms to Shariah principles and is usually less volatile as compared to a normal bond fund.
- enjoy potentially higher returns than traditional banking accounts; and
- “park” money aside while waiting to make another investment.
It is also suitable for investors who:
- have either a short or medium term investment horizon;
- want a portfolio of investments that adhere to the Shariah principles;
- desire a stream of income; and/or
- seek for security and flexibility in investment.
| Application Fees |
Nil |
|
Annual Fees |
Management Fee: 0.75% per annum of the NAV |
| |
Trustee Fee: 0.05%* per annum of the NAV
* Subject to a minimum fee of RM18,000 per annum |
| Switching Fees |
Since switching is treated as a withdrawal from one (1) fund and an investment into another fund, you will be charged a Switching Fee equal to the difference (if any) between the Application Fees of these two (2) funds. In addition, the Manager imposes a RM100 administrative fee for every switch made out of a Fund. However, this RM100 administrative fee is waived for the first four (4) switches out of a Fund in every calendar year. The Manager also has the discretion to waive the Switching Fee and/or administrative fees. |
| Distribution Policy |
Every calendar month within 14 days after the last day of each month. |
|
Investment Time Horizon |
Recommended 12-18 months. |
| Initial Investment |
Minimum RM10,000. |
| Additional Investment |
RM1,000 or more at any time. |
| Cooling off period |
You have six (6) Business Days after your initial investment (i.e. the date the application is received by CIMB-Principal Islamic Asset Management) to reconsider its appropriateness for your needs. Within this period, you may withdraw your investment at the NAV per unit on the day the units were first purchased and have the Application Fee (if any) repaid. Please note that the cooling-off right is only given to an investor who is investing with CIMB-Principal Islamic Asset Management or any Approved Distributor for the first time. However, corporations/institutions, CIMB-Principal Islamic Asset Management’s staff and person(s) registered to deal in unit trust of CIMB-Principal Islamic Asset Management or any Approved Distributor are not entitled to the cooling-off right.
However, investors who invest via the EPF Members Investment Scheme (where available) are subject to EPF’s terms and conditions. |
| Redemption/Withdrawal |
RM1,000 or 1,000 units |
| Launch Date |
20 April 2006. |
| Approved Fund Size (units) |
500 million units. |
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