Kenanga Investors Appointed Fund Manager for Dana Wakaf Bencana
KUALA LUMPUR, MALAYSIA
OutReach - 18 November 2021 - Kenanga Investors Berhad ("Kenanga Investors") has been appointed Fund Manager for Dana Wakaf Bencana ("Emergency Waqf Fund"),
an emergency relief fund established for the purposes of channelling resources
to those affected by climate change-related disasters as well as future
From left to right: Tuan Haji Syed Zafilen Syed Alwee, Chairman of the Board of Directors, Kenanga Investors Berhad Senator Tuan Haji Idris bin Haji Ahmad, Minister in the Prime Minister's Department (Religious Affairs) Charles Hay, British High Commissioner to Malaysia Prof. Madya Dr. Amir bin Shaharuddin, Chief Executive Officer, Yayasan Waqaf Malaysia Suhana Sidik, Member of MATCH Foundation and Board Member of MRCS
On 10 November,
Kenanga Investors as Fund Manager, together with Yayasan Waqaf Malaysia (waqf
administrator) and MATCH Foundation (distribution agency), signed a Memorandum
of Agreement to ensure funds collected are invested and distributed according
to waqf principles. The signing was witnessed by Senator Tuan Haji Idris bin
Haji Ahmad, Minister in the Prime Minister's Department
(Religious Affairs) and Mr Charles Hay, British High Commissioner to
"We are honoured to be
appointed as Fund Manager for the Emergency Waqf Fund in alignment with the 12th
Malaysia Plan (RMK-12) and the government's intention for increased efficiency
in waqf management. We look forward to providing support to the waqf
institution by means of the establishment of an emergency fund governance structure
through this strategic partnership which will see the timely deployment of
resources to areas of need", says Ismitz Matthew De
Alwis, Executive Director and Chief Executive Officer. He further explained that
the appointment is
attributed to Kenanga Investors' track record in fund management and experience
in the management of waqf assets through the Kenanga Waqf Al-Ihsan Fund which
was launched in April 2021.
The Emergency Relief Fund
will be receiving a portion of the RM10 million allocated in Budget 2022 as
part of its initial seed funding, announced in October 2021. Funds received from institutional investors would be invested
directly into a wholesale fund established by Kenanga Investors who will manage
and invest it accordingly, in line with the proposed fund structure. Derived
income will be distributed to investors and YWM respectively. YWM will then channel
the allocated percentage of funds to MATCH Foundation for emergency response
activation for the returns to reach communities at risk.
In Malaysia, the
Foreign Commonwealth and Development Office ("FCDO") appointed PwC Malaysia as
consultant for the Islamic Social Finance space, who then reported the
necessity of establishing an emergency fund to mitigate climate related
disasters and to protect the lives and livelihoods of those most vulnerable.
The FCDO, under the purview of the British High Commission, runs the Financial
Services and Intellectual Property Programme ("Programme") to strengthen
economic growth by addressing poverty and inequality issues in developing
Southeast Asian countries.
is an international effort and operates in six countries which are Indonesia,
Malaysia, Myanmar, the Philippines, Thailand and Vietnam. It provides technical
assistance to Malaysia's Year 1 of the Prosperity ASEAN Economic Reform
Programme through six workstreams: FinTech, Accounting Standards, Intellectual
Property, Anti-Money Laundering and Financial Crime, Capital Markets, and
recognises the importance of a firm driven by ESG considerations and goals, and
social responsibility is a major aspect of that agenda. It is our
responsibility, on behalf of asset owners, to generate positive environmental,
social and governance impact through their investments. With this appointment,
we hope to drive impact investing in Malaysia to new heights", says De Alwis.
We provide investment solutions ranging from
collective investment schemes, portfolio management services, and alternative
investments for retail, corporate, institutional, and high net worth clients
via a multi-distribution network.
Most recently, the FSMOne Recommended Unit
Trusts Awards 2021/2022, named Kenanga Balanced Fund as "Balanced – Malaysia"
for the 3rd year, Kenanga ASnitaBOND Fund as the "Core Fixed Income – Malaysia (Islamic)"
for the second time, while Kenanga OnePRS Conservative Fund was awarded the
"Private Retirement Scheme – Conservative" title (3rd year).
At the Refinitiv Lipper Fund Awards 2021
(Malaysia), KIB won overall best Malaysia Islamic Funds Group Awards (Equity)
and Malaysia Provident Funds Group Awards (Mixed Assets). The Kenanga
SyariahEXTRA Fund was awarded "Mixed Asset MYR Balanced - Malaysia" award for
3-years and 5-years in both categories of Malaysia Islamic Funds and Malaysia
Provident Funds while the Kenanga Growth Opportunities Fund won "Equity
Malaysia Small & Mid-Caps" for 3-years under the Malaysia Provident Funds
category. Kenanga SyariahEXTRA Fund also won "Mixed Asset MYR Balanced –
Malaysia" for 3-years and 5-years at the Refinitiv Lipper Fund Awards 2021
(Global Islamic). The Hong Kong-based Asia Asset Management's 2021 Best of the
Best Awards awarded KIB under the following categories, Malaysia - Best Equity
Manager, Malaysia CIO of the Year, Malaysia – Best Islamic Fund (Equity), and
Malaysia Best House for Alternatives.
For the fifth consecutive year, KIB was affirmed an
investment manager rating of IMR-2 by Malaysian Rating Corporation Berhad,
since first rated in 2017. The IMR rating on KIB reflects the fund management
company's well-established investment processes and sound risk management
practices. During the first half of 2021, KIB's 20 largest unit trust funds
outperformed its benchmarks for the one-year, three-year and five-year periods.