Hwang-DBS property fund's 500m units fully subscribed !!

The Hwang-DBS Global Property Fund's offering of 500m units, which was recently increased from 300m units, was fully subscribed two weeks after the fund size was increased. Hwang-DBS Investment Management Bhd (HDBSIM) said on May 23 that within two weeks of its debut, the fund’s offering was increased to 500m units at an issue price of 50 sen per unit. As of May 18,the global property fund was sold out and was closed to subscription after generating RM250m in sales, which was only a month after its initial launch. HDBSIM chief executive officer and executive director Teng Chee Wai said Malaysian investors were warming up again to the benefits and potential of investing in unit trusts, be it a local or a global fund. He said the fund was launched at a very busy and eventful time for the investment industry as many fund houses were putting out their products, most of which were of regional and global in nature, he said.Amid on-going interest rate hikes and market volatility, the fund was a potentially attractive investment avenue for investors seeking to outdo inflationary costs via staid bank returns.