Fund Details

DAILY FUND PRICE

Closing as at: 29 Nov 2022

NAV per Unit (RM) Change (RM) Change (%)
1.0040 0.0004 0.0399
  Fund Information
The Fund AmanahRaya Syariah Income Fund
Base Currency MYR
Fund Category Sukuk
Fund Type Income
Initial Offer Period (IOP) 1 day
NAV per unit during IOP RM 1.0000
Launch Date 05 May 2022
Investment Objective ARSIF aims to provide regular stream of monthly income* by investing in Islamic money market instruments and sukuk.

ANY MATERIAL CHANGES TO THE FUND OBJECTIVES WOULD REQUIRE UNIT HOLDERS’ APPROVAL.
*The income could be in the form of units or cash. Please refer to page 23 on the distribution mode.

Investment Policy and Strategy ARSIF will invest in Islamic money market instruments and RM-denominated short to medium-term sukuk (with maturity of no longer than five (5) years) with a following minimum credit rating:

i. Short-term credit rating of P1 by RAM or MARC-1 by MARC; or
ii. Long-term credit rating of A1 by RAM or A+ by MARC.

If the credit rating of the instruments falls below the minimum rating, the Fund may dispose of the investment. However, the Fund reserves the right to maintain the investment if the downgrade is a temporary event.

The Fund may also invest up to 30% of the Fund's NAV in Islamic negotiable instruments of deposit with tenure up to five (5) years. The issuers of the Islamic negotiable instruments of deposit must have a minimum credit rating of A3 by RAM or A- by MARC.

In the event of a credit downgrade of the issuer below the minimum rating requirement or where the Manager at its discretion view that there is a likelihood of credit default, the Manager may decide to partially or fully unwind the particular instruments. A credit downgrade means that credit risk has increased but it does not mean that there will be a default. A credit downgrade will generally have no impact on the value of the Islamic negotiable instruments of deposit upon its maturity if a credit default did not occur. However, if the Manager chooses to unwind the instrument prior to its maturity, it may result in capital losses and these losses will be borne by the Fund and reflected in its NAV.

The Fund may also invest in Islamic CIS provided that such Islamic CIS is consistent with the investment objective of the Fund.

Although the Fund is actively managed, the frequency of its trading strategy will very much depend on market opportunities.

The Fund shall hold a minimum of 2% of the Fund’s NAV (or such other amount as may be agreed by the Manager and Trustee from time to time) in Islamic liquid assets such as cash and Islamic deposits.

Note: “Short-term credit rating" refers to the credit rating of an instrument for a period of less than twelve (12) months issued by credit rating agency whereas "long-term credit rating" refers to a credit rating for a period of at least five (5) years.

Asset Allocation
  • At least 70% of the Fund's NAV will be invested in RM-denominated short to medium-term sukuk (with a term to maturity of no longer than five (5) years)
  • Up to 30% of the Fund's NAV in Islamic money market instruments, Islamic negotiable instruments of deposit and Islamic liquid assets.
General Risk
  • Market Risk
  • Liquidity Risk
  • Inflation Risk
  • Manager’s Risk
  • Credit and Default Risk
  • Loan Financing Risk
  • Non-Compliance Risk
Specific Risk
  • Sukuk Issuer Risk
  • Income & Distribution Risk
  • Interest Rate Risk
  • Shariah Status Reclassification Risk
  • Islamic CIS Risk
Investor Profile It is suitable for investors who:
  • are seeking for a low to moderate risk investment that has exposure in sukuk, Islamic negotiable instruments of deposit and Islamic money market instruments;
  • prefer a regular income stream.
Benchmark Malayan Banking Berhad Al-Mudharabah (GIA) 1-Month Rate

The structure of the above benchmark is referring to the investment strategy of the Fund. The risk profile of the performance benchmark is not the same as the risk profile of the Fund.

You can obtain the information on the benchmark from maybank2u website (http://www.maybank2u.com.my). For further details on the benchmark, you may obtain the information from the Manager upon request.

Financial Year End 31 March
Trustee Maybank Trustees Berhad