KUALA LUMPUR: Pelaburan Hartanah Bhd’s (PHB) subsidiary, PHB Asset Management Bhd (PHBAM), has officially taken over the management of the commercial property unit trust, Amanah Hartanah Bumiputera (AHB), effective July 1, 2024. This move comes after PHB announced in May that it would be parting ways with the previous manager, Maybank Asset Management Sdn Bhd (MAM), to independently manage AHB.
PHB and AmanahRaya Trustees Bhd will continue to serve as the sponsor and trustee, respectively, for AHB. AHB is a Shariah-compliant unit trust that primarily invests in the beneficial ownership of commercial properties in prime locations across Malaysia.
Zulkifli Ishak, the chief executive officer of PHBAM, expressed that the primary objective of the company aligns closely with PHB’s mandate to increase the capacity and wealth of Bumiputera through commercial real estate participation and ownership. He highlighted the growth of AHB from RM1 billion in 2010 to RM5 billion in 2023, benefiting over 80,000 unitholders in terms of wealth generation.
With its fixed-price structure and zakat-deducted semi-annual profit distributions, AHB is an ideal investment option for individuals seeking financial planning solutions, including education savings and retirement funds. Zulkifli also acknowledged the exceptional service and support provided by MAM since the inception of the AHB fund in 2010, which consistently resulted in full subscription of the AHB unit.
PHBAM aims to enhance the value proposition of the AHB fund by offering a holistic financial service under one product. This includes the integration of additional solutions such as takaful, hibah waqf, and legacy planning, providing AHB unitholders with a more structured approach to wealth creation and distribution.
Furthermore, all transactions related to the AHB fund will remain accessible at Maybank, AmBank, AmBank Islamic, and Bank Islam branches nationwide, as well as through Maybank2u. This ensures convenience and accessibility for investors looking to engage with the AHB fund.
In conclusion, the management takeover of Amanah Hartanah Bumiputera by PHBAM marks a significant milestone in the continued growth and development of the fund. With a focus on empowering Bumiputera through real estate investment opportunities, PHBAM is committed to providing innovative solutions and enhancing the overall value proposition for AHB unitholders.