The year 2023 was full of surprises, some good and some, not so. On the bright side, the global economy performed better than expected. Inflation showed signs of slowing down and the US markets performed well. The S&P 500 Index hit an all-time-high, led by tech stocks, thanks to the widespread application of artificial intelligence (AI).

Winners list

While 2023 was another volatile year for investors, the local fund management industry performed well. The winners of the LSEG Lipper Fund Awards were able to cut through the noise and navigate the uncertainties to deliver good returns to investors.

Of surprises,  agility & resilience

Criteria (Cumulative)


	Funds registered for sale in the respective country as at the end of the calendar year of the respective evaluation year.
	At least 36 months of performance history as at the end of the calendar year of the res...

LSEG Lipper Fund Awards Methodology 2024

The global fund industry experienced a harvest year in 2023, said Xav Feng at the LSEG Lipper Fund Awards 2024, which was held on March 8 at the Mandarin Oriental Hotel in Kuala Lumpur. Feng, LSEG Lipper Asia Pacific head of research, pointed out that global funds received net inflows of US$1.24 trillion (RM5.81 trillion).

A harvest year for the global fund industry

Manulife Investment Management (M) Bhd was again the biggest group award winner at the LSEG Lipper Fund Awards 2024, where it took home three group awards for the second year in a row. It won the awards for Best Equity Group (Malaysia), Best Equity Group (Islamic) and Best Mixed Assets Group (Provident).

Manulife returns as biggest winner of group awards

KAF Investment Funds Bhd emerged as one of the biggest winners at the LSEG Lipper Fund Awards 2024. It clinched the Best Equity (Provident) Group award and 10 individual awards.

KAF Investment Funds shines

Maybank Asset Management Sdn Bhd (MAM) has emerged as a big winner at the LSEG Lipper Fund Awards 2024, taking the Best Bond Group (Islamic) award and seven individual awards.

Maybank clinches one group and seven individual awards at LSEG Lipper Fund Awards 2024

AmFunds Management Bhd clinched a group award and two individual awards at the LSEG Lipper Fund Awards 2024. It was the winner of the Best Bond Group (Malaysia) award.

AmFunds wins two awards in bond category

UOB Asset Management (M) Bhd (UOBAM) won the Best Mixed Asset (Malaysia) Group Award at the LSEG Lipper Fund Awards 2024. This is the second consecutive year that it has won the accolade.

UOB Asset Management takes home group award

Despite the challenges and risks of financial market volatility due to persistently high inflation in 2023, Public Mutual Bhd bagged 21 fund awards at the LSEG Lipper Fund Awards 2024.

Public Mutual a top winner with 21 individual awards

Principal Asset Management Bhd walked away with five awards at the LSEG Lipper Fund Awards 2024, once again emerging as a big winner in the regional and global space.

Principal wins big in regional and global category

PMB Investment Bhd, a wholly-owned subsidiary of Pelaburan Mara Bhd, clinched four fund awards at the LSEG Lipper Fund Awards 2024 and maintained its winning streak with the PMB Shariah Equity Fund and PMB Shariah Tactical Fund.

PMB Investment outperforms partly through under-the-radar small-cap stocks

Hong Leong Asset Management (HLAM) won five awards at the LSEG Lipper Fund Awards 2024. Its Hong Leong Dana Makmur Fund won Best Equity Malaysia (Islamic) in the 10-year category while the Hong Leong Dana Maa’rof Fund won Best Mixed Asset MYR Balanced-Malaysia (Islamic) and Best Mixed Asset MYR Balanced-Malaysia (Provident) in the five- and 10-year categories.

Hong Leong Asset Management bags five awards with Dana Maa’rof and Dana Makmur

RHB Asset Management Sdn Bhd and its wholly owned subsidiary RHB Islamic International Asset Management Bhd won five awards in the bond and equity space and across three universes.

RHB Asset Management clinches five awards

DRB-Hicom Bhd (KL:DRBHCOM) saw a net loss of RM5.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM70.8 million in the same quarter last year.

DRB-Hicom records net loss in 3Q amid automotive and postal sector weakness

AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.

AEON Co 3Q net profit up 35% with growth across all segments

The General Secretary of the Central Committee of the Communist Party of Vietnam To Lam announced the elevation of bilateral relations between Malaysia and Vietnam to a comprehensive strategic partnership.

Vietnam, Malaysia elevate bilateral relations to comprehensive strategic partnership

KUALA LUMPUR (Nov 21): Good bilateral relations with the four countries Prime Minister Datuk Seri Anwar Ibrahim visited recently have borne fruit, and facilitated the government’s mission to attract new business and investments.

Good bilateral relations with four countries visited bear fruit, says PM

The Tenom Pangi Hydroelectric Power Station (SJHTP) is expected to be fully operational by the end of this year, generating up to 66 megawatts (MW) of electricity, according to Sabah Electricity chairman Datuk Seri Wilfred Madius Tangau.

Tenom Pangi hydropower station to be fully operational by year end, says Madius

Heitech Padu Bhd (KL:HTPADU) recorded a net profit of RM6.58 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM1.4 million in the corresponding quarter, thanks to a one-off gain on disposal of land and building.

Heitech Padu posts 3Q profit on land, building disposal gain

The Selangor government is currently identifying a new location for the development of a dedicated motorsport racing circuit, the Selangor State Legislative Assembly was told on Thursday.

Selangor looking for new site for motorcycle racing circuit

Energy services firm Kinergy Advancement Bhd (KL:KAB) on Thursday reported a 70% year-on-year (y-o-y) drop in its third-quarter net profit, mainly because operating profit from its sustainable energy solutions (SES) segment fell on the absence of negative goodwill from the acquisition of subsidiaries — or bargain purchase gain — which was reflected in last year's results.

Kinergy’s 3Q net profit falls 70% y-o-y on absence of bargain purchase gain

Deputy Works Minister Datuk Seri Ahmad Maslan said on Thursday that the implementation of the multi-lane free flow (MLFF) toll system is still under "heavy consideration" by the government.

Ahmad Maslan: RM3.5 bil multi-lane free flow project remains under 'heavy consideration' by govt

KUALA LUMPUR (Nov 21): The government’s firm stance in fighting corruption at all levels, including at grassroots, has not only improved the country’s image in terms of the Corruption Perceptions Index (CPI) but has also garnered international recognition, the Dewan Rakyat was told on Thursday.

PM: Qatar seeks Malaysia’s cooperation to design anti-corruption programme for Islamic countries

(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.

Dyson dials back Malaysian hairdryer ops, redeploys staff in Johor — Bloomberg

Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.

Petronas Chemicals' outlook gloomy, analysts warn amid mounting joint venture losses

Indian billionaire Gautam Adani has been indicted by US prosecutors for his alleged role in a US$265 million scheme to bribe Indian officials, plunging his conglomerate deep into crisis for the second time in two years.

Indian tycoon Adani charged in US over US$265m bribery scheme, dismisses allegations as ‘baseless’ 

KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.

BNM reschedules govt bond auction, scraps one issue in unusual move

KUALA LUMPUR (Nov 21): Shares of RCE Capital Bhd (KL:RCECAP) fell on Thursday after the company, which mainly provides financing to civil servants, reported weaker than expected quarterly results.

RCE Capital shares fall on Thursday after weaker than expected results

Nvidia forecast its slowest revenue growth in seven quarters on Wednesday, failing to meet lofty expectations of some investors who have made it the world's most valuable firm.

Nvidia's AI chip demand still booming but slowing sales growth worries investors

Starbucks Corp reduced its US retail workforce by 8% in its most recent fiscal year, even as the coffee chain added hundreds of new locations.&nbsp;

Starbucks shrank retail staff 8% despite hundreds of new stores

Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.

Starbucks said to consider selling stake in Chinese business

IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.

Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.

IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.

Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.

Sime Darby Property seeks more assets generating recurring income

Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

India's Adani Group sees US$30b in value wiped off after US indictments 

PARAMARIBO (Nov 20): Suriname's state-run oil company Staatsolie said on Wednesday that US oil giant ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&amp;P will take over its 50% stake.

Suriname’s Staatsolie says ExxonMobil has withdrawn from offshore block, Petronas’ unit to take over 50% stake

Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.

All in all, the listing would offer investors up to a 26% stake in the company.

Northern Solar Holdings signs underwriting agreement with M&A Securities

KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;

Mah Sing unveils M Aspira sales gallery in Taman Desa

The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).

Bestinet contract extension for foreign worker recruitment system could cost govt minimum of RM3.2b, says PAC

The Biden administration told Congress it plans to cancel US$4.65 billion (RM20.8 billion) in debt owed by Ukraine, according to a letter obtained by Bloomberg News, the latest in a series of moves meant to bolster support for Kyiv before President-elect Donald Trump takes office.

Biden administration seeks to cancel US$4.6b of Ukraine’s debt

Bitcoin hit US$95,000 (RM425,030) for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.

Bitcoin climbs closer to US$100,000 on Trump’s support for crypto

KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.

Analysts raise forecasts after Hap Seng Plantations’ quarterly results beat expectations

KUALA LUMPUR (Nov 21) : The National Union of Journalists Malaysia (NUJ) refutes claims by senior lawyer Tan Sri Muhammad Shafee Abdullah that the media unfairly covered the SRC International Sdn Bhd trial, involving former prime minister Datuk Seri Najib Razak.

LSEG Lipper Fund Awards 2024

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