CIMB-Principal targets RM2bil PRS fund size
CIMB-Principal Asset Management Bhd intends to grow its funds under the government-mooted private retirement scheme (PRS). The target amount is RM2 billion which should be reached during a period of five years. This way, CIMB is working on its higher goal to become the country's top PRS provider. It is expected that pension funds will become a key part of the company's business, accounting for 20% of its revenue in five years. At the moment, CIMB is managing RM36 billion worth of assets.