KUALA LUMPUR (Feb 20):  AmConstant Flexi has increased its approved fund size to a total of 225 million units from its initial approved fund size of 100 million units.

AmConstant Flexi is a three-year close-ended bond fund which is for investors seeking income stability in the face of market uncertainty.

Since it was launched on Jan 16, 2012, the fund has collected subscription proceeds of RM128 million, retailing at RM1 per unit.  AmConstant Flexi is the 13th fund under the AmConstant series by AmMutual.

AmInvestment Bank Group funds management division CEO Datin Maznah Mahbob said the AmConstant series was synonymous with the  group’s low volatility array of funds and has become a hit with investors as volatility risk persists with the prevailing downgrades on earnings and growth.

“Similar to the preceding AmConstant funds, AmConstant Flexi offers regular income that has potentially higher returns than the fixed deposit rate in Malaysia during its tenure,” said Maznah.

The fund’s offer period of 45 days started on Jan 16 until Feb 29, 2012. Its minimum investment is RM5,000. The Fund is distributed and made available at all AmBank branches, Alliance Bank, CIMB Bank, OCBC Bank and UOB Bank.