This article first appeared in Wealth, The Edge Malaysia Weekly on March 25, 2024 - March 31, 2024
Editor’s note
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).
The not so good news was that the Chinese economy did not experience a strong rebound like most investors expected. Additionally, the war in Gaza and the continued Ukraine-Russia conflict weighed on investor sentiment.
Still, most fund managers were able to beat the markets by investing selectively and pivoting to “old economy” stocks. While they continued to seek opportunities within the technology space, some trimmed their exposure to growth companies and pivoted to value stocks.
Particularly on the local front, fund managers benefitted from investing in undervalued companies in various sectors, such as property, construction and utility. They also built up their positions to benefit further from various government initiatives, including the New Energy Transformation Roadmap, New Industrial Master Plan and a slew of infrastructure projects.
Entering 2024, most fund managers have a constructive and positive view on the local market as equity valuation is at a historical low. They are also of the view that the ringgit has a good chance to strengthen as interest rate differentials tighten globally, while the local bond market appears attractive on the back of steady economic growth. Political stability after several changes in government also helped boost sentiment.
Congratulations to all the winners! — Kuek Ser Kwang Zhe
Winners list
Group Award Winners
Duration: 3 Years
| Group Award | Company |
| Bond Group (Malaysia) | AmFunds Management Bhd |
| Bond Group (Islamic) | Maybank Asset Management Sdn Bhd |
| Equity (Malaysia) | Manulife Investment Management (M) Bhd |
| Equity (Islamic) | Manulife Investment Management (M) Bhd |
| Equity (Provident) | KAF Investment Funds Bhd |
| Mixed Assets (Malaysia) | UOB Asset Management (M) Bhd |
| Mixed Assets (Provident) | Manulife Investment Management (M) Bhd |
Fund Award Winners
Duration: 3 Years
| Award | Fund |
| Bond MYR (Malaysia) | KAF Bond Fund |
| Bond MYR (Islamic) | AmanahRaya Syariah Trust Fund |
| Bond MYR (Provident) | RHB Bond Fund |
| Equity Malaysia (Malaysia) | Maybank Malaysia Growth Fund |
| Equity Malaysia (Islamic) | KAF Dana Adib |
| Equity Malaysia (Provident) | KAF Tactical Fund |
| Equity Malaysia Small & Mid-Cap (Malaysia) | Public SmallCap Fund |
| Equity Malaysia Small & Mid-Cap (Islamic) | Manulife Investment Shariah Progress Plus Fund |
| Equity Malaysia Small & Mid-Cap (Provident) | KAF Vision Fund |
| Equity Malaysia Income (Malaysia) | RHB Malaysia Dividend Fund |
| Equity Malaysia Income (Islamic) | PMB Dana Bestari |
| Equity Malaysia Income (Provident) | KAF Core Income Fund |
| Equity Malaysia Diversified (Malaysia) | Maybank Malaysia Ethical Dividend Fund |
| Equity Malaysia Diversified (Islamic) | PMB Shariah Equity Fund |
| Equity Malaysia Diversified (Provident) | PMB Shariah Equity Fund |
| Equity ASEAN (Malaysia) | Public South-East Asia Select Fund |
| Equity ASEAN (Islamic) | Saturna ASEAN Equity Fund |
| Equity Asia Pacific (Malaysia) | Public Regional Sector Fund |
| Equity Sector Real Estate Asia Pacific (Malaysia) | TA Asia Pacific REITs Income Fund |
| Equity Asia Pacific ex Japan (Malaysia) | PB Asia Pacific Dividend Fund |
| Equity Asia Pacific ex Japan (Islamic) | Maybank Asiapac Ex-Japan Equity I-Fund |
| Equity Asia Pacific ex Japan (Provident) | Manulife Investment Shariah Asia-Pacific ex Japan Fund |
| Equity Greater China (Malaysia) | Public China Titans Fund |
| Equity Global (Malaysia) | Principal Global Titans Fund- Class MYR |
| Equity Global (Islamic) | Public e-Islamic Sustainable Milennial Fund |
| Mixed Asset MYR Balanced - Malaysia (Malaysia) | Maybank Malaysia Balanced Fund |
| Mixed Asset MYR Balanced - Malaysia (Islamic) | Manulife Investment Al-Umran |
| Mixed Asset MYR Balanced - Malaysia (Provident) | Principal Dynamic Enhanced Malaysia Income Fund |
| Mixed Asset MYR Balanced - Global (Malaysia) | PB Australia Dynamic Balanced Fund |
| Mixed Asset MYR Conservative (Malaysia) | PB Mixed Asset Conservative Fund |
| Mixed Asset MYR Flexible (Malaysia) | Manulife Investment- CM Flexi Fund |
| Mixed Asset MYR Flexible (Islamic) | PMB Shariah Tactical Fund |
| Mixed Asset MYR Flexible (Provident) | Manulife Investment- ML Flexi Fund |
Fund Award Winners
Duration: 5 Years
| Award | Fund |
| Bond MYR (Malaysia) | AmanahRaya Unit Trust Fund |
| Bond MYR (Islamic) | AmanahRaya Syariah Trust Fund |
| Bond MYR (Provident) | RHB Bond Fund |
| Equity Malaysia (Malaysia) | Areca equityTRUST Fund |
| Equity Malaysia (Islamic) | TA Dana Fokus |
| Equity Malaysia (Provident) | KAF Tactical Fund |
| Equity Malaysia Small & Mid-Cap (Malaysia) | Public Emerging Opportunities Fund |
| Equity Malaysia Small & Mid-Cap (Islamic) | Manulife Investment Shariah Progress Plus Fund |
| Equity Malaysia Small & Mid-Cap (Provident) | KAF Vision Fund |
| Equity Malaysia Income (Malaysia) | RHB Malaysia Dividend Fund |
| Equity Malaysia Income (Islamic) | PMB Dana Bestari |
| Equity Malaysia Income (Provident) | KAF Core Income Fund |
| Equity Malaysia Diversified (Malaysia) | Maybank Malaysia Value Fund Class A-MYR |
| Equity Malaysia Diversified (Islamic) | PMB Shariah Equity Fund |
| Equity Malaysia Diversified (Provident) | PMB Shariah Equity Fund |
| Equity ASEAN (Malaysia) | Public ASEAN Growth Fund |
| Equity ASEAN (Islamic) | Public Islamic ASEAN Growth Fund |
| Equity Asia Pacific (Malaysia) | PB Asia Equity Fund |
| Equity Sector Real Estate Asia Pacific (Malaysia) | Maybank Singapore REITs Fund SGD Class |
| Equity Asia Pacific ex Japan (Malaysia) | Pheim Asia Ex-Japan Fund |
| Equity Asia Pacific ex Japan (Islamic) | Principal Islamic Asia Pacific Dynamic Equity Fund- Class MYR |
| Equity Asia Pacific ex Japan (Provident) | Principal Islamic Asia Pacific Dynamic Equity Fund - Class MYR |
| Equity Global (Malaysia) | Principal Global Titans Fund- Class MYR |
| Equity Global (Islamic) | RHB Islamic Global Developed Markets Fund RM Class |
| Mixed Asset MYR Balanced - Global (Malaysia) | Public Strategic Balanced Fund |
| Mixed Asset MYR Conservative (Malaysia) | PB Mixed Asset Conservative Fund |
| Mixed Asset MYR Flexible (Malaysia) | Public e-Flexi Allocation Fund |
| Mixed Asset MYR Flexible (Islamic) | PMB Shariah Tactical Fund |
| Mixed Asset MYR Flexible (Provident) | AHAM Tactical Fund |
Fund Award Winners
Duration: 10 Years
| Award | Fund |
| Bond MYR (Malaysia) | AmanahRaya Unit Trust Fund |
| Bond MYR (Islamic) | AmanahRaya Syariah Trust Fund |
| Bond MYR (Provident) | AmDyanmic Bond |
| Equity Malaysia (Malaysia) | Areca equityTRUST Fund |
| Equity Malaysia (Islamic) | Hong Leong Dana Makmur |
| Equity Malaysia (Provident) | AmMalaysia Equity |
| Equity Malaysia Small & Mid Cap (Malaysia) | Manulife Investment Progress Fund |
| Equity Malaysia Small & Mid-Cap (Islamic) | Public Islamic Opportunities Fund |
| Equity Malaysia Small & Mid-Cap (Provident) | KAF Vision Fund |
| Equity Malaysia Income (Malaysia) | Eastspring Investments Equity Income Fund |
| Equity Malaysia Income (Islamic) | Manulife Investment Al-Fauzan |
| Equity Malaysia Income (Provident) | KAF Core Income Fund |
| Equity Malaysia Diversified (Malaysia) | Maybank Malaysia Dividend Fund |
| Equity Malaysia Diversified (Provident) | Kenanga Malaysian Inc Fund |
| Equity Asia Pacific ex Japan (Malaysia) | PB China Australia Equity Fund |
| Equity Asia Pacific ex Japan (Islamic) | Principal Islamic Asia Pacific Dynamic Equity Fund- Class MYR |
| Equity Asia Pacific ex Japan (Provident) | Principal Asia Titans Fund |
| Mixed Asset MYR Balanced - Malaysia (Malaysia) | PB Balanced Fund |
| Mixed Asset MYR Balanced - Malaysia (Islamic) | Hong Leong Dana Maa'rof |
| Mixed Asset MYR Balanced - Malaysia (Provident) | Hong Leong Dana Maa'rof |
| Mixed Asset MYR Balanced- Global (Malaysia) | Eastspring Investment Asia Select Income Fund |
| Mixed Asset MYR Flexible (Malaysia) | PB Dynamic Allocation Fund |
| Mixed Asset MYR Flexible (Islamic) | Public Islamic Asia Tactical Allocation Fund |
| Mixed Asset MYR Flexible (Provident) | Kenanga OneAnswer Investment Funds- Kenanga Diversified Fund |
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