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

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

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

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

A  standoff between the US and Iran spurred oil-market volatility, dragging down stocks and bonds on concerns that potential inflationary pressures could trigger Federal Reserve rate hikes.

Stocks fall as US-Iran standoff boosts bond yields

The market moves, corporate deals and top headlines of the day, at a glance.

Gamuda, Zetrix AI, Sunsuria, TSH Resources, Hap Seng, GUH, Willowglen, KKB, Kinergy Advancement, Poh Kong, Zetrix AI, AYER

Thong Bowl restaurant chain operator, Thong World Bhd has filed its draft prospectus for an ACE Market listing, as the group seeks to raise fresh capital to open more outlets and deploy kiosk machines.

Mokhzani-linked restaurant operator Thong World files draft prospectus

Paramount Skydance Corp’s plan to sell more than US$44 billion (RM181.46 billion) of bonds in US dollars and euros to fund its acquisition of Warner Bros Discovery Inc is now in motion, kicking off the main portion of the year’s largest M&A financing.

Paramount puts US$44 bil bond sale for Warner deal in motion

Tata Trusts, the majority shareholder of Tata Sons Pvt, proposed that the holding company of India’s biggest conglomerate merge with two of its unlisted units to stave off a listing order.

Tata Trusts propose restructuring of Tata Sons to avoid listing

SpaceX's next-generation Starship rocket reached orbit for the first time on Monday despite having one of its engines down, overcoming this hitch mid-flight to deploy the first batch of new Starlink satellites as Elon Musk's company plans to put the vehicle into routine use starting later this year.

SpaceX's Starship reaches orbit for the first time, deploys Starlink satellites

President Donald Trump will announce on Monday a Minnesota company's plan to build a US$15 billion (RM61.3 billion) steel mill in Iowa, a White House official said, a major investment that the administration is highlighting as it seeks to promote domestic manufacturing ahead of the November mid-term elections.

Trump to unveil planned US$15b Iowa steel project

A former chief executive officer (CEO) of Felda Investment Corporation Sdn Bhd (FIC), investigated for alleged misappropriation involving the Kuala Lumpur Vertical City (KLVC) project, is scheduled to be charged at the Kuala Lumpur Sessions Court on Tuesday (Sept 29).

Ex-Felda Investment Corp CEO to be charged over KL Vertical City project on Tuesday 

Property developer Sunsuria Bhd (KL:SUNSURIA) is selling a piece of freehold commercial land in Sepang, Selangor, for RM316.84 million cash to Amazon Data Services Malaysia Sdn Bhd.

Sunsuria to sell Sepang land to Amazon’s local unit for RM316.84m cash

Wall Street's main indices fell on Monday after President Donald Trump rejected an Iranian proposal to end the conflict, leading to a spike in crude prices that revived inflation worries and drove Treasury yields higher.

Wall Street slips as oil spikes after Trump rejects Iran peace proposal

Thong Bowl restaurant chain operator, Thong World Bhd has filed its draft prospectus for an ACE Market listing, as the group seeks to raise fresh capital to open more outlets and deploy kiosk machines.

Digital services firm Zetrix AI Bhd (KL:ZETRIX), whose external&nbsp;auditors resigned on Monday, announced on the same day that it has completed the payout of its delayed cash dividend to all eligible shareholders.

Zetrix AI pays out delayed cash dividend as auditor exits, excludes shares tied to shareholder's legal action

Zetrix AI Bhd (KL:ZETRIX) on Monday announced the resignation of its external auditor,&nbsp;TGS TW PLT.

Zetrix AI announces resignation of TGS TW as external auditor 

The market moves, corporate deals and top headlines of the day, at a glance.

Property developer AYER Holdings Bhd (KL:AYER) has proposed to acquire for RM138 million cash two parcels of contiguous freehold land along Jalan Kuchai Lama here, with a combined area of 9.11 acres, for future development projects.

AYER Holdings to acquire Jalan Kuchai Lama land for RM138m cash

Wall Street's main indices fell on Monday after President Donald Trump rejected an Iranian proposal to end the conflict, leading to a spike in crude prices that revived inflation worries and drove Treasury yields higher.

Kinergy Advancement Bhd (KL:KINERGY) founder Datuk Dr Lai Keng Onn has become the single largest shareholder of marine vessels operator Avangaad Bhd (KL:AVANGAAD), after acquiring a 278.38 million-share block from Sindora Bhd and Kulim (M) Bhd.

Kinergy Advancement founder Lai becomes Avangaad's single largest shareholder as Sindora, Kulim exit

Poh Kong Holdings Bhd (KL:POHKONG) closed its financial year ended July 31, 2026 (FY2026), with a 59.6% surge in fourth-quarter net profit, as higher gold prices lifted margins and operating profit.

Poh Kong closes FY2026 at record high as 4Q profit surges nearly 60%, plans 5 sen dividend

Thousands gathered at Masjid As-Syarif, Taman Sungai Besi Indah here on Monday afternoon to perform funeral prayers for the late Tun Dr Hasmah Mohd Ali, which were held twice, with the congregation&nbsp;filling the mosque and spilling into the area outside the prayer hall.&nbsp;

Thousands turn up for funeral prayers for Tun Dr Hasmah

Prime Minister Datuk Seri Anwar Ibrahim has urged more Malaysian companies to expand their presence in Saudi Arabia and pursue collaborations that benefit both countries.

PM urges Malaysian companies to expand in Saudi Arabia

Malaysia is seeing higher cargo flows and exports amid disruptions at the Strait of Hormuz and Bab-el-Mandeb, but some of these gains could reverse if shipping routes normalise, according to Penaga Research and Consultancy.

Malaysia needs to turn temporary shipping gains into structural advantage — Penaga

Property developer Sunsuria Bhd (KL:SUNSURIA) is selling a piece of freehold commercial land in Sepang, Selangor, for RM316.84 million cash to Amazon Data Services Malaysia Sdn Bhd.

PESB Bhd, an electrical engineering firm, has filed for a listing on the ACE Market to raise funds for expansion and future projects.

Power engineering firm PESB files for ACE Market IPO to fund expansion, future projects

Prime Minister Datuk Seri Anwar Ibrahim and his wife Datuk Seri Dr Wan Azizah Wan Ismail on Monday paid their final&nbsp;respects to the late Tun Dr&nbsp;Hasmah Mohd Ali at Masjid As-Syarif, Taman Sungai Besi Indah here.

Anwar, Wan Azizah pay final respects to Tun Dr Hasmah

KKB Engineering Bhd (KL:KKB) said on Monday that it has secured RM462 million contracts from Sarawak Shell Bhd and two other companies.&nbsp;

KKB Engineering bags RM462m in jobs from Sarawak Shell, 2 other firms

The late Tun Dr Hasmah Mohd Ali was laid to rest at Pusara Negara, Precinct 20 here at 6.20pm Monday, with her husband Tun Dr Mahathir Mohamad, their children and family members present.

Tun Dr Hasmah laid to rest at Pusara Negara

The European Union is poised to remove Vietnam and Panama from its list of tax havens when EU finance ministers meet in Luxembourg next month.

Vietnam and Panama to be removed from EU’s tax haven blacklist

A former chief executive officer (CEO) of Felda Investment Corporation Sdn Bhd (FIC), investigated for alleged misappropriation involving the Kuala Lumpur Vertical City (KLVC) project, is scheduled to be charged at the Kuala Lumpur Sessions Court on Tuesday (Sept 29).

Sabah-based gold mining firm Aumas Resources Bhd (KL:AUMAS) said on Monday its chief executive officer Chong Tzu Khen will be on administrative leave until further notice after he was charged with three counts of corruption at the&nbsp;Kota Kinabalu Sessions Court on Monday.

Aumas Resources CEO on administrative leave pending graft case outcome 

The defence on Monday&nbsp;grilled a prosecution witness on inconsistencies between witness statements and testimonies in Lim Guan Eng's Penang undersea tunnel corruption trial with those in a related case. &nbsp; &nbsp;

LSEG Lipper Fund Awards 2024

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