This fund wants to tap into the growing demand for Shariah-compliant investment products in Malaysia

Malaysia's Kenanga Investors has launched a new Shariah-compliant fund, the Kenanga Islamic Dividend Fund (KIDF). The fund is open to both retail and institutional investors, and it aims to provide investors with a steady stream of income through Shariah-compliant investments.

The fund will be managed by Kenanga Investors' Shariah team, which has extensive experience in the Islamic finance sector. With this new fund, Kenanga Investors hopes to tap into the growing demand for Shariah-compliant investment products in Malaysia and beyond.

The Kenanga Islamic Dividend Fund (KIDF) has an initial fund size of approximately $23 million. This money will be used to invest in a diversified portfolio of Shariah-compliant assets, with a focus on dividend-paying stocks. The Kenanga Islamic Dividend Fund (KIDF) offers investors a unique opportunity to participate in the economic growth of the Asia-Pacific (APAC) region. 

The APAC region has been experiencing rapid economic growth in recent years, driven by factors such as increasing integration into the global economy, rising affluence of the population, and a growing middle class. The fund provides exposure to a diversified portfolio of Shariah-compliant assets, including equities, bonds, and money market instruments, which are expected to benefit from the region's strong fundamentals.

No doubt, this Kenanga Islamic Dividend Fund (KIDF) is a good move. It will provide additional support to the other Shariah-compliant funds that offer a similar opportunity, such as the AmInvest Islamic Dividend Fund, the CIMB Islamic Enhanced Dividend Fund, and the Affin Hwang Islamic Dividend Fund.