Kuala Lumpur, 24 May 2021: Kenanga Investors Berhad’s (“Kenanga Investors”) Kenanga SyariahEXTRA Fund (“KSEF”) was awarded Best Mixed Asset MYR Balanced for 3 Years and 5 Years at the Refinitiv Lipper Fund Awards 2021 – Global Islamic (“the Awards”) bringing the total number of awards the fund has won this year to six.

In the past year, the KSEF invested primarily in a mixture of Shariah-compliant equity securities, Islamic fixed income securities and Islamic money market instruments in order to achieve diversification in the portfolio. For Islamic fixed income allocation, the Fund invested in a careful selection of high grade sukuk with emphasis placed on credit-worthy issuers of sukuk.  

Ismitz Matthew De Alwis, Executive Director and Chief Executive Officer says “The strategy employed for KSEF is in line with an active investment strategy for different market conditions to enhance risk-adjusted returns through riding market cycles, situational opportunities, value emergence and trend reversal plays. The investment team identifies key sectors or groups of Shariah-compliant securities that the fund manager believes should perform well under an anticipated economic condition. Individual Shariah-compliant securities selection will then focus on well-managed, financially sound companies with attractive relative valuations and potential for high earnings growth over the medium to long term time frame.”

As at 31st December 2020, KSEF delivered returns of 40.29%* (3-years), 62.78%* (5-years), 119.79%* (10-years). Launched in 1996, KSEF aims to provide investors with a medium to long-term capital appreciation through investments in specified asset classes by adopting a balanced approach towards equities and fixed income exposure based on Shariah principles.

The increased interest in Shariah-compliant funds has been further bolstered by their defensive nature in sectors such as utilities, healthcare, and telecommunications. As such, portfolios with Shariah funds can provide investors with more diversity and flexibility when withstanding sudden high market volatility.

The firm has previously announced its intention to focus on the development of SRI principles and ESG-values for its products and services mix. The Kenanga Waqf Al-Ihsan Fund was a recent addition to its suite of Shariah-compliant funds. Consistent with waqf principles, half of its returns will be evenly distributed for purposes of economic empowerment and environmental preservation.

“The universe of Shariah investments provides a wealth of opportunities to create long-term value for both our internal and external stakeholders as its indicators offer additional insight in evaluating a company’s longevity beyond traditional financial performance. We are excited to explore its values and concepts and to apply it within our business to drive further growth,” adds De Alwis. 

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*Results Source: Lipper Investment Analytics, 31 December 2020

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