Principal Islamic Asset Management Sdn Bhd ('Principal') has a compliance unit which is responsible to ensure that all business conducts and practices of the Company complies with securities laws, regulations and relevant guidelines which are gazetted and issued by the regulators.
The compliance unit reports directly to the board of directors and works closely with the senior management personnel on all compliance matters. The Unit also liaises with other departments within the Company to discharge the duties and functions effectively.
Other responsibilities include: Establishing, maintaining and administering the implementation of policies and procedures to detect and prevent breaches of securities laws, regulations and relevant guidelines; Preparing and tabling compliance reviews to the board of directors; Maintaining and reviewing compliance procedures for each area of the Company’s operation; Examining and investigating any irregularity in the Company’s operations; Assisting in training and educating staff members on compliance matters, industry and regulatory developments.
Principal has developed a set of "Rules of Business Conduct" which applies to all employees that set forth Principal's commitment to conduct its business lawfully with high credibility and integrity. The culture dictates that compliance is each employee's responsibility. Principal also has a Business Continuity Plan (BCP) in place that details the Company’s back-up plans for all key systems and proceeding of operations in the event of disaster.
Principal's risk management comprises dedicated risk management and compliance teams, and members of the investment committee.
The team works in tandem with the investment team to ensure the level of risk meets the expectations of clients' overall performance targets that are set against the appropriate benchmark. Portfolios are constructed and managed within pre-determined guidelines such as risk budgets that will be monitored regularly.
Principal has appointed the investment committee for the Funds, pursuant to the requirements under the Securities Commission Malaysia (SC) guidelines. The investment committee currently consists of five (5) members including two (2) independent members.
|Yoon Mun Thim | Chairman||Independent member|
|Nor' Azamin Salleh||Independent member|
|Mohamad Safri Shahul Hamid||Non-Independent member|
|Alejandro Elias Echegorri Rodriguez||Non-Independent member|
|Juan Ignacio Eyzaguirre Baraona||Non-Independent member|
Generally, the investment committee meets quarterly and is responsible for ensuring that the investment management of the Funds is consistent with the objectives of the Funds, the Deeds, the SC guidelines and relevant securities laws, any internal investment restrictions and policies of the Manager, as well as acceptable and efficacious investment management practices within the unit trust industry.
In this role, the powers and duties of the investment committee include formulating and monitoring the implementation by the Manager of appropriate investment management strategies for the Funds and the measurement and evaluation of the performance of the Manager.
The designated person for fund management function for all Principal Funds is the Chief Investment Officer:
Name: Mohd Fadzil Mohamed
Designation: Chief Investment Officer, Malaysia
Experience: With 26 years of experience in asset management and an accumulated knowledge in various aspects of the industry, especially in fixed income fund management, economics and fixed income research, Fadzil is tasked to oversee the management of fixed income and equity portfolios. Prior to joining the firm, he was the Chief Executive Officer and Chief Investment Officer (Fixed Income) of a local fund management company. During his tenure there, he won two (2) Morningstar industry performance awards in 2015, for Best MYR Bond Fund and Best MYR Islamic Bond Fund categories. Since joining Principal Islamic in 2015, he has led his team to win various awards, including Best 3-year ROI Global Sukuk Award for EPF Portfolio Managers 2017, Thomson-Reuters Lipper Fund Award MENA Markets for Best 3-year Bond Global 2017 and Best 3-year TWRR Global Sukuk for KWAP External Portfolio Managers 2018. He earned a BSc (Econs) Hons degree in Accounting and Finance from University of Aberystwyth, Wales, UK.
Investment Committee Members
Mohamad Safri bin Shahul Hamid
Deputy Chief Executive Officer/ Senior Managing Director
CIMB Islamic (CIMB Investment Bank)
|2011-present||Deputy Chief Executive Officer/ Senior Managing Director (since April 2014) – CIMB Islamic (CIMB Investment Bank)|
|2009 – 2011||Deputy Chief Executive Officer – MIDF Amanah Investment Bank, Kuala Lumpur|
|Feb 2008 – Dec 2008||Director – Global Markets & Regional Head, Islamic Structuring (Asia) of Deutsche Bank Dubai International Financial Centre (Dubai)|
|2003 – 2008||Director & Head – Debt Capital Markets, CIMB Islamic|
|2000 – 2003||Senior Analyst – Malaysian Rating Corporation Berhad|
Master of Business Administration (Globalisation) from Maastricht School Of Management, The Netherlands; Bachelor of Accounting (Honours) from International Islamic University Malaysia; Chartered Accountant (CA) with the Malaysian Institute of Accountants (MIA).
Alejandro Elias Echegorri Rodriguez
Chief Investment Officer, Principal Global Asset Management Asia
Director, i-Wealth Advisors Sdn Bhd
Director, CIMB Wealth Advisors Berhad
He is the Chief Investment Officer for Principal Global Asset Management in Asia and as such he is responsible for the overall investment strategy and the investment process for the group and for overseeing the management of pension, mutual funds and general accounts in the Asia as well as for supporting the overall development of the asset management business in the region. Prior to that Mr. Echegorri was Chief Executive Officer, ASEAN Region of Principal Asset Management Berhad, with responsibilities over Malaysia, Indonesia, Thailand and Singapore. Previously he was the Chief Investment Officer for Principal International in Latin America. He joined Principal in 2003 as Head of Institutional Asset Management and Chief Investment Officer for Principal Financial Group in Mexico. Prior to that, he was the Senior Investment Officer for Citibank’s Pension Fund Business in Latin America. He had also held different positions in the investment area in countries such as Uruguay, Argentina, Chile, Mexico and the United Kingdom.
Degree in Economics from the Universidad Mayor de la Republica, Uruguay and a Master in Economics degree from Universidad Centro de Estudios Macroeconomics de Argentina.
Juan Ignacio Eyzaguirre Baraona
Chief Executive Officer, ASEAN for Principal Asset Management Berhad.
Juan has 30 years of experience in various senior positions in asset management, banking, insurance and fund management. He is currently the Chief Executive Officer, ASEAN for Principal Asset Management Berhad.
In 2008, Juan founded Vistage Chile, a business coaching and management development consultancy headquartered in San Diego, California. Prior to this, Juan served as an executive of Principal Latin America where he drove regional business growth and strategy and led teams in Argentina, Chile and within Principal's joint venture in Brazil.
Juan Ignacio has a civil engineering degree from the Universidad de Chile and a degree in philosophy from the Universidad de Los Andes.
* Independent Member.
|Paid-up Share Capital
|Profit or loss before tax
|Profit or loss after tax
Total Number of Fund and Total Value of Funds Under Management
As at 31 January 2022.
Total Value of Asset Under Management - RM 12.04 billion.
Total Number of Fund
4 Wholesale Funds
4 Undertakings for the Collective Investment in Transferable Securities Funds
Amanie Advisors Sdn Bhd (''Amanie'')
Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. It is a registered Shariah advisory company for Islamic unit trust with the Securities Commission Malaysia (SC). Amanie was established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles.
The roles of Shariah Adviser are:
1. Ensure that the Fund is managed and administered in accordance with Shariah Principles.
2. Provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
3. Consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
4. Act with due care, skill and diligence in carrying out its duties and responsibilities.
5. Responsible for scrutinising the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
6. Prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.
With more than fourteen (14) years of experience in the advisory role of unit trusts, Amanie has to date managed more than 170 funds locally and globally.
Tan Sri Dr. Mohd Daud Bakar
Executive Chairman, Amanie Advisors Sdn Bhd
Tan Sri Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in a few cities globally. He serves as the Chairman of the Shariah Advisory Council (SAC) at the Central Bank of Malaysia, the Securities Commission of Malaysia, the Labuan Financial Services Authority, the Astana International Financial Centre (AIFC), Kazakhstan, the First Abu Dhabi Bank (UAE), and Permodalan Nasional Berhad (PNB).
Tan Sri Dr Daud is also a Shariah board member of various global financial institutions, including the National Bank of Oman (Oman), Amundi Asset Management (France), Bank of London and Middle East (London), BNP Paribas Najma (Bahrain), Natixis Bank (Dubai), Morgan Stanley (Dubai), Sedco Capital (Saudi and Luxembourg) and Dow Jones Islamic Market Index (New York) amongst many others.
Currently, Tan Sri serves as the Chairman of Federal Territory Islamic Religious Department [Majlis Agama Islam Persekutuan (MAIWP)]. In the corporate world, he is currently a member of the PNB Investment Committee. Previously, he served as a Board Director at Sime Darby Property Berhad and Chairman to Malaysia Islamic Economic Development Foundation (YaPEIM). In addition, he is the cofounder of Experts Analytics Centre Sdn Bhd and MyFinB Sdn. Bhd. He also serves as the Chairman of Berry Pay Sdn. Bhd., Data Sukan Consulting Sdn. Bhd., Bio Fluid Sdn. Bhd., KAB Gold Dynamics Sdn. Bhd., Bio-Angle Vacs Sdn. Bhd., Tulus Digital Sdn. Bhd., and Amanie-Afra Halal Capital Co (Bangkok).
In 2014, he received the “Most Outstanding Individual” award by His Majesty, the King of Malaysia, in conjunction with the national-level Prophet Muhammad’s birthday. Under his leadership, Amanie Advisors received the “Islamic Economy Knowledge Infrastructure Award” at the Global Islamic Economy Summit, Dubai 2015, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Oct 2015. On 13 November 2021, he was conferred the Darjah Kebesaran Panglima Setia Mahkota (P.S.M.) which carries the title of “Tan Sri”.
He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya.
Tan Sri’s first book entitled “Shariah Minds in Islamic Finance: An Inside Story of A Shariah Scholar” has won the “Islamic Finance Book of the Year 2016” by the Global Islamic Finance Award (GIFA) 2016. Then, his book on sukuk entitled “An Insightful Journey to Emirates Airline Sukuk: Pushing The Boundaries of Islamic Finance” has also won the “Best Islamic Finance Case 2017” by the GIFA 2017 in Kazakhstan. To date, Tan Sri has been authoring 28 books with different genre.
Suhaida Mahpot, CSAA
Chief Executive Officer, Amanie Advisors Sdn Bhd
Suhaida Mahpot is the Chief Executive Officer for Amanie Advisors in Kuala Lumpur office. She holds a Bachelor of Economics (Islamic Economic & Finance) from International Islamic University Malaysia and a professional certificate of Certified Shariah Advisor and Auditor (CSAA) of AAOIFI.
She joined Amanie in 2008 and was amongst the pioneers in the company. She is a specialist in sukuk advisory and has been advising numerous sukuk locally and internationally. One of the sukuk advised by her together with Tan Sri Dr Mohd Daud Bakar has been awarded as Best Securitisation Sukuk at The Asset Triple A Islamic Finance Award (2020). Apart from sukuk advisory, her primarily focus is on Shariah governance, structuring, enhancement and conversion exercises, establishment of Islamic financial entities as well as development of Islamic products. Her career in banking & financial industry started as a trainee under Capital Market Graduated Trainee Scheme organized by the SC.
Prior to joining Amanie, she worked with Affin Investment Bank Bhd since 2006 as an executive for debt & capital markets department. She completed various project financing deals using private debt securities instruments ranging from infrastructure & utilities, real estate, plantation and many others.
Designated person for Shariah Matters;
Ahmad Anas Fadzil,CSAA, CIPA
Senior Consultant, Amanie Advisors Sdn Bhd
Ahmad Anas is the Senior Consultant for Amanie Advisors, based at the Head Office in Kuala Lumpur. As part of Amanie Advisors’ global team, his primary focus is on advising and delivering projects for various Islamic financial services across the globe on their strategic issues and on Shariah compliant products and instruments.
Prior to joining Amanie Advisors, he was attached with Sigur Ros for Turkey’s Project of Century: Turkish Republic North Cyprus Water Supply project where he had been assigned as the Project Accountant based in Turkey. Among his responsibilities was the preparation of various reports pertaining to the Project Account. Prior to that, he was an auditor with Ernst & Young, attached to Global Financial Services department, engaged in performing auditing work for the financial institutions.
Ahmad Anas is an Associate Member of Association of Shariah Advisors in Islamic Finance (ASAS) and holds a professional certificate of Certified Shariah Advisor and Auditor (CSAA) and Certified Islamic Public Accountant (CIPA) from Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI). He holds a Master of Islamic Finance (MSc) from The Global University of Islamic Finance (INCEIF), and is an accounting graduate from Universiti Teknologi Mara (UiTM). He speaks English, Malays and Turkish.
Assistant Consultant, Amanie Advisors Sdn Bhd
Muhammad Hafizuddin graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). He was exposed to the financial and Shariah advisory services such as Shariah stock screening, monitoring and compliance review during his internship with Amanie.
Principal Asset Management (S) Pte. Ltd. ("Principal Singapore")
Sub-Manager for Islamic Asia Pacific Dynamic Income & Growth Fund
Christopher Leow - Chief Executive Officer and Chief Investment Officer
Over 25 years of portfolio management and research experience with a proven track record of accomplishments. He has extensive experience, having worked as an analyst in stockbroking and as a portfolio manager in asset management boutiques in addition to a stint in an internet start-up. Christopher was appointed Chief Executive Officer of Principal Asset Management (S) Pte Ltd in June 2017. He obtained his fund manager’s representative’s license in January 1999 and holds a Bachelor of Commerce in Accounting and Finance (Hons) from the University of Western Australia. He is also a Chartered Financial Analyst (CFA) Charterholder and Certified Financial Planner. He obtained his Capital Markets Services Representative License from Monetary Authority of Singapore in September 2007.
Dennis Lee Yong Wee - Head of International Investments
Dennis Lee joined Principal Asset Management (S) Pte Ltd in April 2012 as Director, International Investment. Prior to joining Principal, Dennis was an Executive Director of ICH Asset Management from 2007 to 2012 where he was the fund manager for Asia Phoenix Absolute Return Fund, a Singapore-based hedge fund investing across the Asian region. He graduated as a Master of Science from Stanford University, USA in 1995. He is a Chartered Financial Analyst (CFA) Charterholder since 1998.
James Gan, Equity - Portfolio Manager
He is the lead fund manager for the Islamic Asia-ex-Japan group. He previously managed the relative return emerging market country funds (China-India-Indonesia), ASEAN absolute return funds and ETF listed on the Singapore Exchange. James is also the country strategist and research analyst for India and leads the in-house Oil price task force. James’s prior research experience include Singapore, Korea, Taiwan and Malaysia. He is a Chartered Financial Analyst (CFA) Charterholder and graduated with a Bachelor of Science (Hons) in Mathematics and Economics from the University of Warwick.
Serene Chng - Senior Portfolio Manager
Prior to joining Principal, she was a portfolio manager at Nomura Asset Management Singapore since 2006. She covered Australian, New Zealand and Indonesian equities as well as managing Asian equity focused institutional funds. Ms Chng holds a degree in Bachelor of Business Administration with 1st Class Honors from the National University of Singapore and she is a Chartered Financial Analyst (CFA) Charterholder. Kindly note that the lead portfolio manager for this product is James Gan ad the co-portfolio manager is Serene Chng.
Principal Global Asset Allocation (PGAA) and Principal Global Investors, LLC
Sub-Manager for Islamic Global Multi-Asset Fund
|Investment Manager||Principal Islamic|
|Sub-Investment Advisers||Asset Allocation
Principal Global Investors, LLC (PGAA)
Principal Global Investors, (Hong Kong) Ltd (PGAA)
|Equity Sleeve Management
Principal Global Investors, LLC (PGI Equities)
|Sukuk Sleeve Management
Greg Tornga, CFA - Managing Director and Portfolio Manager
Greg is responsible for co-managing our dynamic risk asset allocation suite, our fist active multi-asset high income ETF, and our dynamic risk model portfolios, including a digital advisor solution. Greg has extensive expertise in the fixed income market and was previously Head of Fixed Income and a Portfolio Manager at Edge Asset Management, another investment boutique within Principal Global Investors. Prior to Principal, Greg was a Senior Vice President for Payden and Rygel Investment Management in Los Angeles, where he served as the Head of Investment Grade Credit Strategy. His background also includes corporate finance roles in the Technology and Communication industry with Texas Instruments and Covad Communications. He received an MBA from the Argyros School of Business and Economics at Chapman University and a bachelor’s degree from the University of Michigan. Greg has earned the right to use the Chartered Financial Analyst designation.
Raj Singh, CFA - Portfolio Manager
Raj is responsible for the management asset allocation portfolios. Previously he also managed fixed income portfolios. Prior to joining the firm, he was a Director, Portfolio Management, with Sun Life Hong Kong where he managed and developed solutions for general account funds. Prior to that, he worked at BEA Union Investment Management, helping to manage Multi-Asset and Pension portfolios. He has also worked with Credit Suisse, Singapore where he focused on building cross-asset trading systems. Raj received an MBA from The Hong Kong University of Science & Technology with an International Exchange Program at the London Business School and a Bachelor of Engineering (Computer Science) from The Institute of Technology & Management, India. Raj has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Principal Islamic - Sukuk Sleeve
Elyzza Syazreen Zailan - Portfolio Manager, Global Sukuk
Elyzza has 13 years of experience in the fund management industry, specialising in fixed income direct mandates and unit trust funds. She joined Principal Islamic in 2018 as a Global Sukuk Portfolio Manager. Prior to joining Principal Islamic, she was the Head of Fixed Income in a local asset management company, where she successfully led her team to win several industry awards, including the Best 3-year ROI Domestic Fixed Income Portfolio Manager and Best 3-year ROI Domestic Fixed Income for a pension fund, for two consecutive years in 2017 and 2018. In 2018, she also won two (2) Morningstar Awards for Best MYR Bond Fund and Best MYR Islamic Bond Fund categories. At Principal Islamic, she won Best 3-year ROI global Sukuk for a public pension fund in 2020. She obtained her BSc degree in Actuarial Science (Distinction) from University of Illinois, Urbana-Champaign, USA.
Mohd Fadzil Mohamed - Chief Investment Officer, Principal Islamic
With 25 years of experience in asset management and an accumulated knowledge in various aspects of the industry, especially in fixed income fund management, economics and fixed income research, Fadzil is tasked to oversee the management of fixed income and equity portfolios. Prior to joining the firm, he was the Chief Executive Officer and Chief Investment Officer (Fixed Income) of a local fund management company. During his tenure there, he won two (2) Morningstar industry performance awards in 2015, for Best MYR Bond Fund and Best MYR Islamic Bond Fund categories. Since joining Principal Islamic in 2015, he has led his team to win various awards, including Best 3-year ROI Global Sukuk Award for EPF Portfolio Managers 2017, Thomson-Reuters Lipper Fund Award MENA Markets for Best 3-year Bond Global 2017 and Best 3-year TWRR Global Sukuk for KWAP External Portfolio Managers 2018. He earned a BSc (Econs) Hons degree in Accounting and Finance from University of Aberystwyth, Wales, UK.
Principal Global Investors - Equity Sleeve
Christopher Ibach, CFA - Portfolio Manager
Chris is a portfolio manager for Principal Global Equities. He specializes primarily in the management of global strategies, integrating fundamental and quantitative research. Chris also leads our advanced research and development initiatives, including ongoing alignment with the Principal data science team, which leads the coordination of our growing community of university and expert network resources. Chris has served as a key contributor to the firm’s research and development efforts for more than a decade, including model development for the firm’s proprietary stock selection models, portfolio construction, and risk management tools. He joined the firm in 2000 as an equities research analyst, specializing in the analysis of international technology companies and was named a portfolio manager in 2002. Previously, Chris gained six years of research and development experience with Motorola, Inc. He received an MBA in finance and a bachelor's degree in electrical engineering from the University of Iowa. Chris has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Steven Larson - Portfolio Manager
Steven is a Portfolio Manager for Principal Global Equities. He specializes primarily in the management of global large cap strategies. Steven began his career at Principal in 1992 and held several roles including co-managing international equity portfolios primarily for institutional and retirement plan clients. He also directly participated in the development of the firm’s first global equity strategy in 2002. Before rejoining Principal in 2019, Steven served as a partner and portfolio manager for international equities at Arbor Capital Management, LLC and later as managing director, portfolio manager for international equities at Winslow Capital Management (an affiliate of Nuveen/TIAA). He received an MBA in Finance from University of Minnesota, Carlson School of Management and a bachelor's degree in Finance from Drake University. Steven has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Scott P. Leiberton, CFA - Managing Director
Scott is a managing director of Principal Global Equities. He is responsible for overseeing client portfolio management for the firm's full range of global, international, and U.S. equity capabilities and serves as a co-portfolio manager for specialty global equity portfolios. Previously he also served as a member of Principal’s asset allocation strategy team. Scott joined Principal Global Investors in 1999 with more than a decade of prior experience in institutional asset management and portfolio management. Previously he worked at Boatmen's Trust Company and subsequently as a founding partner of Rockwood Capital Advisors. Scott received an MBA from Saint Louis University and a bachelor's degree in finance and economics from the University of Missouri. He earned the Certified Employee Benefits Specialist designation from the International Foundation of Employee Benefit Plans and the Wharton School, University of Pennsylvania. Scott has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
Research team supporting the Fund
Alexis Nigoghosian - Investment Analyst, Principal Global Asset Allocation
Alexis is responsible for supporting the portfolio management team managing our U.S. dynamic risk asset allocation strategies. She has been in the investment industry since 2015 when she joined Principal. Alexis received a bachelor’s degree in business administration with majors in finance, economics, and management from the University of Denver. Alexis is a Chartered Financial Analyst Level III Candidate.
Han Peng - Senior Analyst, Principal Global Asset Allocation
Han works closely with other members of the research team in developing fundamental, technical and valuation models for the boutique. He also supports portfolio managers in managing asset allocation portfolios. Han joined Principal in 2011 in Beijing and relocated to Hong Kong in early 2015. He received a master's degree in biomedical studies from Baylor University and a bachelor's degree in biotechnology from Sun Yat-Sen University. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute and the Hong Kong Society of Financial Analysts.
Frank Robin Winkler - Credit Analyst, Global Sukuk
Frank joined Principal Islamic in 2015 and has 9 years of experience in the financial industry, previously with local banks in Singapore and an international bank in Frankfurt. He holds an MSc degree in Investment Banking and Islamic Finance from Henley Business School, ICMA Centre, United Kingdom. He also obtained an MBA from Technical University of Berlin, Germany and a Chartered Islamic Finance Professional (CIFP) from INCEIF University, Malaysia.
Ashraf Nasir - Credit Analyst, Global Sukuk
Ashraf joined Principal Asset Management (Principal Malaysia) in November 2019 as an analyst. Prior to joining Principal Malaysia, he has served in PricewaterhouseCoopers Malaysia (Asset Management Industry) for 2 years. On his educational background, he holds a BSc degree in Accounting and Finance from the University of Cardiff, United Kingdom. Among sectors under his purview as an analyst is banking, property, utilities, petrochemical industry and aircraft leasing.
Fund Outsourcing Providers
Deutsche Trustee Malaysia Berhad
The Manager has appointed Deutsche Trustee Malaysia Berhad to provide fund administration and fund accounting services. It is a wholly owned subsidiary of Deutsche Bank A.G. has built up an established presence in Kuala Lumpur since 1967.
Deutsche Trustee Malaysia Berhad’s roles and responsibilities include keeping proper records, performing valuations of the investments and fund accounting services, which would encompass the following services:
- Maintaining financial accounting record of portfolios including all transactions data, records and investment ledgers;
- Monitoring and recording of corporate actions;
- Performing cash and securities reconciliation with financial institutions and custodian records;
- Performing valuation of the investments and the Fund;
- Provision of a reporting package which includes the following:
- Statement of Assets and Liabilities
- Statement of Income and Expenditure
- Portfolio Valuation Report
- Transaction schedules
- Providing relevant information to facilitate the preparation of statistical returns for submission to regulatory bodies;
- Submitting accounts/accounting records to the appointed external auditors and providing relevant information for disclosure in the annual financial statements (whenever applicable)
HSBC (Malaysia) Trustee Berhad
The manager outsourced its fund valuation function to HSBC (Malaysia) Trustee Berhad (“HSBC”). HSBC is responsible to compute the fund’s NAV based on the method of calculation set out in the fund’s offering document and in accordance with the manager instruction.
HSBC (Malaysia) Trustee Berhad is a company incorporated in Malaysia since 1937 and registered as a trust company under the Trust Companies Act 1949, with its registered address at 13th Floor, Bangunan HSBC, South Tower, No. 2, Leboh Ampang, 50100 Kuala Lumpur. Since 1993, the Trustee has acquired experience in the administration of trusts and has been appointed as trustee for unit trust funds, exchange traded funds, wholesale funds and funds under private retirement scheme.
The compliance officer for Principal Islamic Asset Management is:
Mr. Irwan Bin Md Rejap
Tel: +603 2084 8987