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DAILY FUND PRICE

Closing as at: 06 Dec 2024

NAV per Unit (RM) Change (RM) Change (%)
1.0144 0.0003 0.0296
Fund Information
The Fund AmanahRaya Mixed Asset Syariah Conservative Income Fund
Base Currency MYR
Fund Category Mixed Asset (Islamic)
Fund Type Income and Growth
Initial Offer Period (IOP) Up to twenty-one (21) days from the date of the Prospectus.

Note: The initial offer period may be shortened at the Manager’s discretion if the Manager determine that it is in the Unit Holder’s interest to commence investment for the Fund.
Initial Offer Price RM 1.0000
Investment Objective The Fund aims to provide investors with income and potential capital growth over medium to long term.
ANY MATERIAL CHANGE TO THE INVESTMENT OBJECTIVE OF THE FUND WOULD REQUIRE UNIT HOLDERS’ APPROVAL.

Investment Policy and Strategy In accordance with its conservative strategy, the Fund will be investing 60% to 75% of its NAV in local sukuk and Islamic money market instruments (including Islamic collective investment schemes investing in sukuk or Islamic money market instruments). The Fund may invest up to 35% of its NAV in Shariah-compliant equities and other Shariah-compliant transferable securities (including Islamic collective investment schemes investing in Shariah-compliant equities and/or Islamic REITs) to enhance returns and increase investment and diversification opportunities. The remaining balance of the Fund’s NAV would be held in cash and/or be invested in Islamic deposits.

The Fund uses an investment process that monitors and defines the key drivers of Shariah-compliant equities and sukuk. From that analysis, the Manager determines the asset allocation strategy. Allocation decisions are based on individual assessments of instrument potentials, and the portfolio is actively rebalanced between Shariah-compliant equities and sukuk classes in response to significant changes in asset class drivers, instrument values, or fund flows. Tactical asset allocation may be employed for short-term risk management or return optimisation.

The Fund's strategy for sukuk focuses on a well-diversified portfolio and the credit qualities of sukuk. Portfolio construction involves research driven processes including macroeconomic, interest rate, credit, and yield spread analyses. Active management is used to capitalise on changes in interest rates and yield spreads.

The sukuk must satisfy minimum credit rating of A3 or P2 by RAM or Aor MARC-2 by MARC or their equivalent at the point of purchase. If the credit rating of the sukuk falls below the minimum rating, the Manager has the flexibility to deal with the downgraded sukuk in the best interest of Unit Holders, including but not limited to continue holding the sukuk until its maturity.

For Shariah-compliant equities, investment decisions are based on disciplined top-down and bottom-up analyses, considering factors like sustainable earnings growth, returns on equity, management capability, financial strength, and valuations relative to fair value. Fundamental research is used to assess the financial health, industry prospects, management quality, and past track records of companies.

The Fund may also invest in Islamic collective investment schemes provided that such Islamic collective investment schemes are consistent with the investment objective of the Fund.

Temporary Defensive Measures
The Manager may adopt temporary defensive positions that could deviate from the Fund’s primary strategy in order to mitigate adverse market conditions and safeguard the interests of Unit Holders. During such defensive periods, the Fund may increase its allocation to Islamic liquid assets.
Asset Allocation
  • 60% to 75% of the Fund’s NAV - Sukuk, Islamic money market instruments, and/or Islamic collective investment schemes investing in sukuk or Islamic money market instruments.
  • Up to 35% of the Fund’s NAV - Shariah-compliant equities and other Shariah-compliant transferable securities, and Islamic collective investment schemes investing in Shariah-compliant equities and/or Islamic REITs.
  • The remaining balance of the Fund’s NAV - Cash and/or Islamic deposits.
General Risk
  • Market Risk
  • Inflation Risk
  • Manager’s Risk
  • Loan Financing Risk
  • Suspension of Redemption Request Risk
Specific Risk
  • Credit and Default Risk
  • Sukuk Issuer Risk
  • Interest Rate Risk
  • Stock Specific Risk
  • Shariah Non-Compliance Risk
  • Shariah Status Reclassification Risk
  • Islamic Collective Investment Schemes Risk
  • Distribution Out of Capital Risk
  • Liquidity Risk
Risk Management We adopt the risk management policies as outlined below:

If the credit rating of the sukuk 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 risk management strategies and techniques employed by the Manager also include diversification of the Fund’s asset allocation in terms of its exposure to various industries, sectors and asset classes/type of Shariah-compliant investments (i.e. sukuk, Islamic liquid assets and Shariah-compliant equities).
Liquidity Risk Management

To mitigate liquidity risk, the Manager will employ prudent liquidity management practices. This includes maintaining reasonable levels of liquidity to meet any redemption requests, complemented by a temporary defensive strategy in adverse conditions. Additionally, the Manager will utilise liquidity risk management tools, such as liquidity stress tests, to assess the Fund’s ability to meet both expected and unexpected redemption requests under adverse scenarios.

Accordingly, to manage the liquidity risk of the Fund, we have implemented the following procedures:

  • Minimum Holding in Islamic Liquid Assets.
    The Fund maintains a minimum 2% of its NAV in Islamic liquid assets comprising of cash and Islamic deposits, Islamic accepted bills, Government Investment Issues and any other Shariah-compliant instrument capable of being converted into cash within seven (7) days. The allocation provides a buffer to meet the Unit Holders’ redemption request.

  • Liquidate Investment or Seek Temporary Financing.
    If the Islamic liquid assets are insufficient to meet redemption requests, we will either liquidate the investments of the Fund or seek temporary Islamic financing, considering which is in the best interests of Unit Holders.

  • Regular Portfolio Review.
    The designated fund managers conduct regular reviews of the Fund’s investment portfolio including assessing its liquidity profile.

  • Daily Monitoring and Periodical Stress Testing.
    We monitor the Fund’s net flows daily and perform periodic liquidity stress testing. These preemptive measures help track the Fund’s liquidity status and allow us to proactively address any liquidity concerns. This mitigates potential risk related to meeting Unit Holders’ redemption request, even during adverse market conditions.

  • Suspension of Redemption Requests.
    Under exceptional circumstances, for example, where the market value or fair value of a material portion of the Fund’s assets cannot be determined, we may, after consulting with the Trustee, suspend redemption requests from Unit Holders. During the suspension period, the redemption requests will be accepted but not processed. Once the suspension is lifted, these requests will be processed on the next Business Day. The decision to suspend redemption request is exercised as a last resort, always considering the best interests of Unit Holders.
Investor Profile The Fund is ideal for investors who have a slightly higher risk tolerance than pure fixed income asset class and seek higher returns for their investments, with steady income stream.
Benchmark 75% Quant Shop Government Investment Issues (GII) Index (Medium Sub – Index) + 25% FTSE Bursa Malaysia EMAS Shariah Index.

The structure of the above benchmark refers 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 the quant shop website (www.fundslogic.com) and FTSE Russell website (https://www.lseg.com/en/ftse-russell/indices/bursa-malaysia). For further details on the benchmark, you may obtain the information from the Manager upon request.
Financial Year End 30 April
Trustee CIMB Islamic Trustee Berhad
Shariah Adviser BIMB Securities Sdn. Bhd.

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.