Principal® Asset Management announces second quarter distributions

Kuala Lumpur, 17 July 2019 – Principal Asset Management Berhad (formerly known as CIMB-Principal Asset Management Berhad) (“Principal”) announces distribution totaling RM125,511 million for 25 of its funds, for the second quarter of fiscal 2019. Today, Principal has a total of 78 funds (including both conventional and Islamic unit trust funds, and exchange-traded funds) and 10 private retirement scheme funds.

Munirah Khairuddin, Chief Executive Officer of Principal Asset Management for Malaysia said, “Our top dividend-paying unit trust funds for the quarter includes CIMB Islamic Sukuk Fund, CIMB-Principal Total Return Bond Fund 6 and CIMB Islamic Enhanced Sukuk Fund with yields at 5.28%, 5.2% and 4.66 % respectively.”

As of June 2019, Principal manages approximately RM56.1 billion in assets under management (AUM) in Malaysia.  Its private retirement scheme (PRS) AUM grew to RM673 million, which is 23.4% of the AUM market share.

The company has also announced its rebranding effort last April, following the realignment of shareholding; with Principal Financial Group increasing its ownership to 60 percent, while CIMB Group Holdings Berhad retaining 40 percent. Both parties continue to co-manage the businesses, building on the success of their 15-year alliance in becoming one of ASEAN’s leading asset managers.

The company which was formerly known as CIMB-Principal Asset Management Berhad, will be marketed as Principal in alliance with CIMB, as they unite their regional businesses under a global vision of making financial progress a reality for clients of all income and portfolio sizes. 

“CIMB helped establish our local presence and now, with Principal taking on the role of primary shareholder, we’re able to bring additional global perspectives and asset management capabilities into the region,” said Juan Eyzaguirre, Chief Executive Officer, Principal Asset Management ASEAN. “With the combination of scale, investment expertise, and deep regional relationships, we are optimistic of solidifying our position as an ASEAN market leader in the asset management and retirement industry of the region. As of June 2019, our assets under management stands at RM85.1 billion and we serve about 600,000 investors within Southeast Asia.”

Principal Asset Management Malaysia had also recently received recognitions for Asia Asset Management 2019 Awards for the Fund Launch of the Year Award in Best of the Best Awards Malaysia category, and the Best Asset Management House in ASEAN in Best of the Best ASEAN category.