KUALA LUMPUR, July 14 — AmInvestment Bank Bhd’s fund management arm, AmInvest, has been awarded Best Global Sukuk Fund Manager 2019 Award by Employees Provident Fund (EPF) at the latter’s External Fund Managers Annual Awards 2020.
EPF had assessed AmInvest based on its three-year rolling performance from financial aspects including return on investment, time-weighted rate of return and information ratio along with other service evaluation standards such as compliance, training provided and service quality.
“The growth of AmInvest’s Shariah-compliant business in terms of assets under management has been on an upward trajectory throughout the years,” it said in a statement today.
For the one-year period up to end December 2019, AmInvest’s total Shariah-compliant Assets Under Management (AUM) grew by 20 per cent, driven by the growth of its sukuk and money market funds.
As of December 31, 2019, AmInvest’s Shariah-compliant AUM was around RM10.8 billion which mainly comprised sukuk and money market investments.
AmIslamic Funds Management Sdn Bhd principal officer and chief investment officer Kevin Wong Weng Tuck, said the bank remains positive for sukuk as global interest rates are on a declining trend with the introduction of large stimulus packages by major central banks around the world to stimulate the economy.
“Nevertheless, we will remain vigilant through credit surveillance on sukuk investments in view of a possible economic downturn and its impact on business earnings, as well as consumer confidence,” he said. — Bernama
