Launched on Feb 4, the Nomura Global Multi-Theme Equity Fund aims to offer investors diversified exposure to multiple long-term structural growth themes shaping the global economy.

The high-growth themes include “new technology” and “artificial intelligence (AI)/data science”. The former focuses on innovative technological developments in semiconductors and hardware, while the latter focuses on new value add created by evolving software.

The stable-growth themes include “global ageing” and “established brands”, where the latter focuses on companies with high customer loyalty and their ability to adapt to change in societal structure.

It is also a feeder fund that injects investors’ money into the target fund, Nomura Funds Ireland – Global Multi-Theme (GMT) Equity Fund, which invests in global equities.

Atsushi Ichii, director of Nomura Asset Management Malaysia Sdn Bhd (Nomura), said the GMT specialists identified themes based on three perspectives: breakthrough technology, new opportunities in emerging markets and structural change in society.

“Investment themes selected from these areas are continuously changing. Our rigorous analysis enables us to select the most attractive themes at any given time,” he added.

Rika Naito, Nomura’s senior portfolio manager and sub-investment adviser for GMT, said the team evaluates those themes every three to five years, in response to the rapidly evolving market environment.

“GMT’s edge lies in its growth mandate. We only prioritise themes with strong growth characteristics. In an upside market, the [fund’s] upside capture ratio is 106%, which is reasonable for a growth mandate, while the downside market capture ratio is 89%,” she explained.

According to its presentation slides, the fund underperformed its benchmark — the MSCI All Country World Index — last year, delivering a return of 11.06% compared with the index’s 22.34%. However, it outperformed the index in 2024 and 2023 with returns of 22.71% and 35% respectively, compared with the index’s 17.49% and 22.2%.

As at Feb 4, the fund had invested the most in themes such as new technology (29.7%), AI/data science (17.5%), Internet of Things/reshoring (14%), technology solution (13.3%) and entertainment/experience (9.4%). Its top five holdings were Nvidia Corp (7.9%), Microsoft Corp (6.2%), Broadcom Inc (5.4%), Amazon Inc (5%) and Western Digital Corp (3.4%). The fund invests in 40 to 60 companies in total.

Geographically, the fund invested mostly in the US (79.6%), India (3.9%), Taiwan (3.3%), the Netherlands (2.5%) and France (2.5%).

Investors have to pay a sales charge of up to 5% and an annual management fee of up to 1.8%. The fund comes with two share classes and a minimum initial investment amount of RM1,000 or US$1,000.

The fund’s distributors are UOB Kay Hian and Phillip Capital.

Launched on Jan 19, the Berjaya Mutual Shariah Private Credit Fund 1 has an offer period of up to 45 calendar days from the launch date. It has a fixed tenure of three years from the commencement date, defined as 14 business days after the end of the offer period or earlier.

The fund seeks to invest at least 70% of its net asset value (NAV) in Islamic investment notes and/or shariah-compliant fixed income securities, with the remainder in liquid short-term ringgit-denominated Islamic money market instruments, cash or cash equivalent instruments. Permitted investments also include unrated shariah-compliant fixed income securities.

“The manager may also invest in any issuance issued by a related party issuer,” according to its product highlight sheet. The fund manager will seek to invest mainly in Islamic investment notes where the issuer is a supplier or contractor whose ultimate paymaster is the Malaysian government — including state governments — its bodies, agencies and/or government-linked companies or its subsidiaries.

The value of the fund’s holdings in Islamic investment notes issued by any issuer and any group of companies must not exceed 15% and 30% of the fund’s NAV respectively.

According to the document, the fund aims for an average absolute total return of 8% per annum and income distribution of 2% per quarter.

Income distribution, if any, will be made on a quarterly basis or “other frequency as may be determined by the fund manager from time to time”. It is also subject to the availability of realised income received from an investment.

“The amount of distribution, when made, will be thoughtfully considered to ensure they are meaningful and in the best interests of investors.”

Meanwhile, investors should take note that the fund may make distributions out of capital, which is equivalent to partial returns of an investor’s original investment. Such distributions may reduce the capital available for investment in the fund and may constrain the fund’s future capital growth.

“Investors are advised to carefully consider the implications of receiving distributions out of capital before investing in the fund.”

The fund has a minimum initial investment amount and minimum additional investment amount of RM10,000. Investors have to pay a sales charge of up to 3% and an annual management fee of 2%. The latter is calculated and accrued on a daily basis and is payable monthly.