Fund Key Data
Manager - MAAKL Mutual Bhd
Fund Type - Equity Malaysia Islamic
Date Launched - January 4, 2002
Approved Fund Size - 300,000,000
Fund Price as at May 30, 2008
Buy - 0.7398
Sell - 0.7398
NAV - 0.7398
Objective
The Fund aims to track the performance of the Kuala Lumpur Stock Exchange Syariah Index (KLSI). Also to generate annual distribution for unit holders.
Financial Year End: June 30.
Distribution Policy: Annually, if any.
Investor Profile
Investors who: seek Shariah-compliant investment avenues; seek capital appreciation over the long term.
Investors who: seek Shariah-compliant investment avenues; seek capital appreciation over the long term.
Strategy
The Fund Manager employs an index sampling approach to track the performance of the KLSI. The Fund typically invests up to 98% of its assets in the top tier Shariah-compliant stocks in the target index (covering nearly 80% of KLSI's market capitalisation) and in a representative sample of the remaining constituents.The Fund holds a range of Shariah-compliant equities that, in aggregate, approximate the full KLSI in terms of key charactericstics including industry weightings and market capitalisation. The Fund's portfolio composition is rebalanced when necessary to take into account changes in weightings or corporate activities in order to minimise tracking errors.
The Fund Manager employs an index sampling approach to track the performance of the KLSI. The Fund typically invests up to 98% of its assets in the top tier Shariah-compliant stocks in the target index (covering nearly 80% of KLSI's market capitalisation) and in a representative sample of the remaining constituents.The Fund holds a range of Shariah-compliant equities that, in aggregate, approximate the full KLSI in terms of key charactericstics including industry weightings and market capitalisation. The Fund's portfolio composition is rebalanced when necessary to take into account changes in weightings or corporate activities in order to minimise tracking errors.
Asset Allocation
· Shariah-compliant equity investments: Maximum - 98% of Fund's NAV; Targets tracking accuracy: 95% to 97% accuracy.
· Liquid assets: Minimum - 2% of Fund's NAV.
· Shariah-compliant equity investments: Maximum - 98% of Fund's NAV; Targets tracking accuracy: 95% to 97% accuracy.
· Liquid assets: Minimum - 2% of Fund's NAV.
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