KUALA LUMPUR: AmInvest, the fund management business of AMMB Holdings Bhd,  has unveiled its first series of wholesale bond funds with the issuance of AmSingle Bond Series 1, which aims to provide regular income via yearly income distribution over the medium to long-term.

AmFunds Management Bhd (AMB) chief executive officer Goh Wee Peng said the fund is suitable for investors seeking returns that are potentially higher than the 12-month fixed deposit rate.

"Based on the fund's investment strategy, the underlying bonds are chosen from a single issuer, whose creditworthiness will be carefully analysed by our superior credit team from our in-house proprietary credit research unit," she said in a statement today.

AmInvest is the brand name for AMB and AmIslamic Funds Management Sdn Bhd.

Further, the AmSingle Bond Series 1 will be managed by AmInvest, which has a solid track record of 40 years of investing experience and has received numerous awards for its expertise in managing fixed-income investments.

The fund has an early termination feature triggered when 100 per cent of the fund's assets comprise money market instruments, deposits and cash.

This occurs when the issuer of the bonds in the AmSingle Bond Series 1 call all the bonds or all the bonds have matured or when the fund manager disposes of all its holdings of the bonds due to deterioration in the credit fundamentals of the bonds which would affect the Fund's performance.

The AmSingle Bond Series 1's base currency is US Dollar (USD).

It is being offered for subscription to sophisticated investors in ringgit(RM), RM-hedged, Singapore Dollar (SGD) and USD classes at a minimum initial investment of 100,000 and a minimum additional investment of 50,000, respectively, in the currency for each class.