AmInvestment Group Bhd is launching a property fund, AmAsia-Pacific Property Equities (APPE) which according to a report in The Star on 28 July 2006, is targeted to achieve “double digit” returns in the next 12 months.

This is the second property fund from AmInvestment following the successful launch of their AmGlobal Property Equities last October. The latter fund’s size had surpassed RM300 million, returning 13.06% over the past six months, according to a separate report by the EdgeDaily.

The new fund would invest 95% of its net asset value in the Luxemborg-based  Henderson Horizon Asia-Pacific Property Equities Fund (HHAPPEF), and is said to be suitable for investors seeking exposure to commercial property companies and real estate investment trusts (REIT) in the Asia-Pacific region, particularly in Japan, Australia, Hong Kong and Singapore.

It has an approved size of 150 million units at RM1 each, with a minimum investment of RM1,000.  

Henderson Global Investors which manages HHAPPEF, the underlying fund is a well-known and long established independent global asset management reported to have US$116bn of assets under its management.

Interested investors can purchase the funds from AmBank’s branches and agents, as well as approved institutional unit trust agents such as Citibank, UOB Bank and CIMB Private Banking.