DANAVEST

KUALA LUMPUR, June 2 (Bernama) — OSK-UOB Unit Trust Management Bhd has increased the size of its OSK-UOB Big Cap China Enterprise Fund to 900 million units due to strong demand from investors.

“This increase is again required to meet the steady and constant stream of applications for its units”, its chief executive officer Ho Seng Yee said in a statement here today.

The initial units offered for subscription was 400 million units. It was increased to 600 million units in early 2008, he said.

Ho said the fund invests up to 98 percent of its net asset value in Chinese companies, with a market capitalisation of at least US$1 billion (US$1.00 = RM3.47).

He said these companies have business operations in China and listed on the international stock exchanges of Hong Kong, Shanghai, Shenzhen, the U.S., London and Singapore.

“The fund excludes investing in Chinese companies listed on the domestic A-share market,” he said.

The attraction of China as an investment destination has not been diminished by the global financial crisis as recent economic data coming out of China have shown indications of recovery and its economy was bottoming out, he said.

“The fund is well attuned to this and capitalises on this recovery and growth opportunities of the China market,” he said.