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Corporate Profile of The Manager

AmanahRaya Investment Management Sdn Bhd (“ARIM”) is a licensed asset management company under the Capital Markets and Services Act and a wholly-owned subsidiary of Amanah Raya Berhad. As at 30th June 2018, the authorized and paid-up capital of ARIM stood at RM25 million and RM10 million, respectively.

With effect from 21 January 2010, ARIM has taken over the role of the Manager for the Funds from AmanahRaya Unit Trust Management Sdn Bhd (“ARUTM”).

Asset under management as at 31st July 2022 is approximately RM7.714 billion, which makes ARIM one of the biggest non-bank backed fund management companies in Malaysia. The asset under management covers both Shariah and non-Shariah mandates. Over the years, ARIM has invested vast resources in building up its infrastructure to provide a top notch fund management service.

ARIM also has wealth of experience and competency in managing multiple asset classes, for both Ringgit and non-Ringgit based investments, which include but not limited to equity, fixed income, unit trust, property, structured products and private equity.

Currently, ARIM’s list of clients include reputable pension funds, insurance companies, government agencies, non-profit foundations, public listed companies and high net-worth individuals.

Summary of Financial Position of ARIM

  Unaudited (in RM) results for year ended 31 December 2023 Audited (in RM) results for year ended 31 December 2022
Paid-up capital 10,000,000 10,000,000
Shareholder’s funds 21,694,099 20,961,844
Turnover 23,362,550 25,580,906
Pre-tax profit/(loss) 8,275,404 12,478,424
After-tax profit/(loss) 6,832,255 11,259,145

2021

Paid-up capital 10,000,000
Shareholder’s funds 17,702,697
Turnover 28,027,389
Pre-tax profit/(loss) 14,113,819
After-tax profit/(loss) 12,757,324

2020

Paid-up capital 10,000,000
Shareholder’s funds 15,945,374
Turnover 23,615,772
Pre-tax profit/(loss) 11,110,241
After-tax profit/(loss) 9,820,401

2019

Paid-up capital 10,000,000
Shareholder’s funds 13,124,973
Turnover 15,827,389
Pre-tax profit/(loss) 6,632,518
After-tax profit/(loss) 5,727,602

The Investment Committee

Role of the Investment Committee

The investment committee approves or recommends investment policies and procedures. The committee will continuously monitor the implementation of the investment policies against the predetermined benchmarks towards achieving a proper performance of the Fund. The investment committee will meet at least once every quarter or such other times as may be decided by the Chairman.

Members of the Investment Committee

Datuk Ismail bin Kamaruddin (Independent, Non-Executive)

Puan Azura binti Azman (Independent, Non-Executive)

The Outsourced Function

On 25th June 2012, Securities Commission Malaysia has approved the ARIM’s Internal Audit and Risk Management function to be outsourced to Amanah Raya Berhad.

Amanah Raya Berhad is the Malaysia's premier trustee company and the holding company for ARIM. Since its establishment as the Department of Public Trustee and Official Administrator on 1 May 1921, AmanahRaya have served the nation for over 90 years and is the market leader in providing trust, legacy management and will-services.

The Department of Public Trustee & Official Administrator was corporatised on 29 May 1995 and on 1 August 1995 commenced its operations as Amanah Raya Berhad.

As trustee and administrator, AmanahRaya's services encompass the legal, financial and administrative duties in preparing trust documents and wills, acting as trustees of trust funds, acting as administrators and executor of deceased estates as well as monitoring the transaction of unit trust funds under our care. AmanahRaya is also involved in the investment of assets held in its Common Fund which pays out competitive dividend to its Beneficiaries.

AmanahRaya is wholly owned by the Government of Malaysia with 99.99% of its shares held by the Minister of Finance (Incorporated) and 0.01% of its shares held by the Federal Commissioner of Lands.

Role and duties of the Service Provider – Internal Audit

Amanah Raya Berhad is to provide independent assurance that ARIM's risk management, governance and internal control processes are operating effectively. Amanah Raya Berhad will conducting the following audit on ARIM.

  • Financial audit
  • Operational audit
  • Special audit

Role and duties of the Service Provider – Risk Management

Consultation, Reporting and Documentation for

  1. Enterprise Risk Management
    • Facilitate and advise on the development of unit-specific risk management
    • Undertake operational vulnerability analysis
    • Coordinate business improvement
    • To facilitate & coordinate risk register preparation
  2. Financial Risk Management
    • Providing independent risk assessment with regard to investment related process
    • Develop investment/risk policy; procedure & commentary risk reports
    • Advice on investment control and area for improvement
  3. Business Continuity Management (BCM)
    • Develop and maintain a corporate wide Business Continuity Plan (BCP) program
    • Perform risk analysis, identify recovery strategies and gaps
    • Work closely with IT on BCP
  4. Administration

The Shariah Advisor

BIMB SECURITIES

BIMB Securities Sdn Bhd (“BIMB Securities”) has been appointed as the Shariah Adviser for AmanahRaya Syariah Trust Fund, AmanahRaya Syariah Cash Management Fund, AmanahRaya Islamic Equity Fund and AmanahRaya Syariah Income Fund (“the Fund”). BIMB Securities will provide Shariah advisory services on the mechanism of the operations of the Fund to ensure the operations of the Fund comply with Shariah requirements.

BIMB Securities is a stockbroking subsidiary of Bank Islam Malaysia Berhad incorporated on 21 February 1994 and is licensed by the SC. The corporate mission of BIMB Securities is to be an active participant in a modern, innovative and dynamic Islamic capital market in Malaysia, catering for the needs of all investors, Muslims and non-Muslims, looking for Shariah-compliant investment products and services.

BIMB Securities is registered with the SC to act as a Shariah Adviser for Islamic products and services regulated by the SC, which include Islamic CIS. BIMB Securities is independent from the Manager and does not hold office as a member of the investment committee of the Fund or any other funds managed and administered by the Manager. As at 31 December 2021, BIMB Securities is a corporate Shariah Adviser to 82 Islamic funds including one (1) Islamic real estate investment trust.

ROLES AND RESPONSIBILITIES

As the Shariah Adviser for the Fund, the role of BIMB Securities is to ensure that the investment operations and processes of the Fund are in compliance with Shariah requirements.

BIMB Securities will review the Fund’s investments on a monthly basis to ensure Shariah compliance and it also reviews the semi-annual and annual reports of the Funds.

Notwithstanding the role played by the Shariah Adviser, the ultimate responsibility for ensuring Shariah compliance of the Fund in all aspects of operations and processes rests solely with the Fund Manager.

In line with the SC Guidelines, the roles of BIMB Securities as the Shariah Adviser are:

  • (a) to advise on all Shariah aspects of the Fund and Fund’s operations and processes such that they are in accordance with Shariah requirements;
  • (b) to provide Shariah expertise and guidance in all matters related to the Funds, particularly on the Fund’s Deed and Prospectus, structure, investments and related operational matters;
  • (c) to ensure that the Fund is managed and operated in accordance with Shariah as determined by the relevant SC regulations, guidelines and standards, particularly resolutions issued by the SAC of the SC;
  • (d) to review the Fund’s compliance reports as provided by the Manager’s compliance officer, and investment transaction reports provided or duly approved by the Trustee to ensure that the Fund’s investments are in line with Shariah requirements;
  • (e) to issue a report for inclusion in the semi-annual and annual reports of the Funds stating the Shariah Adviser’s opinion on the Fund’s compliance with Shariah requirements in its investment, operations and processes for the financial period concerned;
  • (f) to consult the SC where there is ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process; and
  • (g) to meet with the Manager on a quarterly basis, or when urgently required for review of the Fund’s operations and processes.

 

Profile of Designated Shariah Person

Ir. Dr. Muhamad Fuad bin Abdullah (“Dr. Muhamad Fuad”)

Dr. Muhamad Fuad, the designated person in-charge of all Shariah matters in BIMB Securities.

He graduated with a Bachelor of Science Degree in Electrical Engineering in 1977 and a Master of Philosophy Degree in Electrical Engineering in 1982, both from the University of Southampton, England. He also obtained a Bachelor of Arts (Jayyid) Degree in Shariah from the University of Jordan in 1994 and a Doctor of Philosophy in Muslim Civilization from the University of Aberdeen, Scotland in 1996.

He is a registered Shariah adviser with the SC and is the chairman of the Shariah Advisory Committee of BIMB Securities effective 1 September 2021. He sits on the Shariah committees of Public Islamic Bank Berhad and AIA-Public Takaful Berhad.

He is also the non-executive chairman of Gagasan Nadi Cergas Berhad, a board member of Universiti Tun Abd Razak Sdn Bhd (UniRAZAK) and Medic IG Holdings Sdn Bhd.

He is the president of the Association of Shariah Advisers for Islamic Finance (ASAS) for the 2020-2022 term.

Dr. Muhamad Fuad is a recipient of the National Book Award 2015 for his book published by IKIM entitled "The Influence of Islam Upon Classical Arabic Scientific Writings: An Examination of the Extent of Their Reference to Quran, Hadith and Related Texts”.

Nurussaádah binti Nasarudin (“Nurussaádah”)

Nurussaádah joined BIMB Securities in June 2015 as the Shariah executive and has been promoted as the head of Shariah section effective 1 May 2021. She is also the designated Shariah officer registered under the BIMB Securities’ Shariah adviser registration, responsible for the Shariah advisory services offered by BIMB Securities.

Nurussaádah graduated with a Bachelor of Shariah majoring in Islamic Banking and Economics from the University of Yarmouk, Jordan.

Currently, she is responsible in providing Shariah inputs on the advisory, consultancy and research functions with regards to Islamic capital market and Islamic collective investment schemes, including but not limited to, conducting surveillance on the non-financial institution activities. She is experienced in product development and review for Islamic capital market products specifically on Islamic stockbroking services.

For further information on the profile of our Shariah Advisor ( BIMB Securities Sdn Bhd ), please refer to the website https://www.bimbsec.com.my/leadership

A Proud Subsidiary of Amanah Raya Berhad

Amanah Raya Berhad is Malaysia’s premier trustee company owned by the Minister of Finance Incorporated. With a century-long legacy dating back to 1 May 1921, Amanah Raya Berhad has served our nation for 100 years. They are the market leader in providing Trust, Estate Administration, Will Writing, and Custody Services.