'Take advantage of ringgit strength to invest in bonds'

Investors should take advantage of the ringgit's current appreciation to invest in the bond market, according to a fund manager.

AmIslamic Funds Management Sdn Bhd head of sukuk and alternative investment, Mohd Farid Kamarudin, cited Malaysian Government Securities as the best instruments to invest in as they have minimum risk.

"Within the region, the ringgit has been generating better returns, more than 7 per cent since January," he said.

The ringgit closed higher against the US dollar yesterday. The local currency was traded at 3.1960/2010 compared with 3.2560/2590 on Friday.

On whether the ringgit will continue to appreciate until year-end, Mohd Farid said: "I would think the upside but it would not be substantial, maybe between 2 per cent and 3 per cent."