This is a roundup of financial news which relate closely to personal finance investment. Click on the title will bring you to the full story.
1st News:Bank Negara to further relax foreign exchange admin rules
However, the investment in foreign currency assets by conventional funds managed by the unit trust and fund management companies continues to be subject to the existing thresholds of 50% of the NAV and the total funds attributable to resident clients with domestic ringgit borrowing.
2nd News: OSK bullish on market outlook
UOB-OSK Asset Management is positive on the market outlook in Malaysia and the rest of the Asian region despite the uncertainty arising from the US subprime crisis and housing slowdown. I subscribed to Icapital.biz and in fact, the fund manager expresses positive projection as well.
3rd News: No subprime impact, said Tan Sri Teh Hong Piow
The Malaysian economy is fundamentally strong and we should be able to weather the negative effect from the subprime situation.
4th News: OSK-UOB offers new theme-based equity fund
OSK-UOB Unit Trust Management Bhd has launched a new
theme-based equity fund, OKS-UOB Thematic Growth fund, which aims to
give returns exceeding 8% per annum. This fund aims for absolute return ( which means positive every year under all market conditions). It offers the flexibility of switching between equity and fixed income. This is something like the Great Eastern Lion Strategic Fund and the Prudential Dynamic Fund.
