MAAKL REIT to focus on Asia-Pacific

By BUSINESS TIMES

MAAKL Mutual has launched its first real estate investment trust (REIT) fund, focusing on REITs and infrastructure funds/trusts listed in Asia Pacific markets.

The MAAKL Asia Pacific REIT Fund (MAPREIT), a fund-of-funds investment, will focus on 13 countries – India, China, Hong Kong, Indonesia, South Korea, the Philippines, Singapore, Taiwan, Thailand, Australia, Japan, New Zealand and Malaysia.

Some 200 million units priced at 25 sen per unit will be offered beginning yesterday to June 27 2007. The minimum initial investment is RM1,000 while the minimum additional investment is RM100.

“Beside REITs, MAPREIT will also invest in infrastructure funds/trusts, focusing primarily on utilities, transportation or logistics and communication,” MAAKL Mutual chief executive officer Wong Boon Choy said in a statement.

MAPREIT will invest up to a maximum of 98 per cent of its net asset value in Asia Pacific REIT’s and infrastructure funds/ trusts. A minimum of 50 per cent must be invested in Asia Pacific REITs at all times while the balance can be invested in infrastructure funds/ trusts.

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