Kuala Lumpur: CIMB-Principal Asset Management Berhad (“CIMB-Principal”) recently won the Best Malaysian Equity Fund award by Failaka Advisors. The 4th Annual Failaka Islamic Fund Awards recognised the CIMB Islamic DALI Equity Growth Fund for the Best Malaysian Equity Fund (Three-Year) category based on its performance as at 31 December 2008.
Failaka Advisors is the recognised leader in Islamic fund research, offering institutions and private investors access to a wealth of information on Shariah-compliant investment funds. Established in 1996, Failaka was the first company to monitor the performance of Shariah-compliant funds worldwide. It has then expanded its products and services to include advisory services and an online database and guide for Shariah scholars.
J. Campbell Tupling, CEO of CIMB-Principal said: “It is a great honour for CIMB-Principal to receive this award. The Fund has outperformed its index over a 3-year period by 25.91%. The award goes to show that our fund has performed commendably with good capital preservation over the long term.”
To date, the Fund has proven to be suitable for investors with a medium to long term investment horizon and for those who want to invest in a diversified portfolio that adheres to the Islamic principles. Currently, the Fund is conservatively positioned with an equity allocation of 70%. In addition, the Fund has a bar-bell structure with a layer of defensives stocks which together make up 10% of the portfolio. At the same time, the Fund is also keyed into the current market themes, which is currently overweight in the Construction sector in anticipation of more pump-priming projects.
“We have proven ourselves worthy and trust that investors will continue to stay invested with us despite the challenging economic environment.” Tupling concluded.
Thursday, July 2, 2009
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