18-09-2023
Kenanga Investors Berhad
Notification on Issuance of New Class of Units in Relation to Kenanga’s Money Market Funds
Dear Valued Investor,
We write to inform you of the proposed key changes in relation to the Kenanga Islamic Money Market Fund, Kenanga Money Market Fund and Kenanga Liquidity Fund (collectively, the “Funds”).
Kenanga Investors Berhad (the “Manager”) intends to issue a new class of units under the Funds to segregate individual and non-individual Unit Holders to cater for the different tax treatments applicable to individual and non-individual Unit Holders.
Unit Holders of the Funds will be split into two (2) categories where individual Unit Holders will be categorised under Class RI and non-individual Unit Holders will be categorised under Class NR. The existing class of units (i.e. Class RI) is meant for individual Unit Holders with no change to the existing features (except for the changes in Kenanga Liquidity Fund, which are set out below) while existing non-individual Unit Holders will be moved to a new class of units (Class NR).
For Kenanga Liquidity Fund, the minimum initial investment, the minimum additional investment and the minimum redemption of units for Class RI will be revised as follows:
| Minimum Initial Investment | Minimum Additional Investment | Minimum Redemption | |
Regular | Non-Regular | |||
Kenanga Liquidity Fund – Class RI | Reduced from RM100,000 to RM5,000 | Amend from “Not applicable” to RM200 | Reduced from RM50,000 to RM1,000 | Reduced from 10,000 units to 2,000 units |
The key changes will take effect on the date of the supplemental master prospectus for the respective Funds.
The individual and non-individual Unit Holders are advised to read and understand on the applicable / relevant tax treatments imposed by the Inland Revenue Board of Malaysia (IRBM). Unit Holders are further advised to consult a professional tax adviser on this matter.
If you wish to seek further clarification on the proposed key changes, please do not hesitate to speak to your Servicing Adviser. Alternatively, you can reach us at our toll-free number 1-800-88-3737 or email us at [email protected]
Thank you for your continued support.
Kenanga Investors Berhad