Kenanga Investors, an asset manager under Malaysia’s Kenanga Investment Bank, on Monday announced the launch of a new equity fund called Kenanga Islamic Asia Pacific (ex-Japan) Total Return Fund.
In a press release, the company said the new fund will invest in a diversified portfolio of Shariah-compliant equities and equity-related securities of companies in the Asia-Pacific region, excluding Japan.
“Kenanga Investors is dedicated to offering our investors regional Shariah-compliant exposure, driven by robust demand from investors for a fund with an Asia-Pacific focus viewed through a Shariah-compliant investing lens,” said the company’s executive director and CEO Wira Ismitz Matthew De Alwis.
“We have observed that many countries in the APAC region are implementing economic reforms and welcoming foreign investments, further integrating and increasing their influence on the global economy. The region is also punching above its weight globally within the fields of renewable energy, battery storage, electric vehicles, semiconductors and various other drivers of the economy of the future,” he added.
De Alwis said that growth in APAC is expected to outpace global growth for the next few years, and the fund will provide significant investment opportunities for investors particularly in areas such as technology, consumer goods and services, industrials and healthcare.
The company said that the minimum initial investment amount for the fund is RM1,000 ($210). Kenanga Investors was incorporated in 2007.
As of May 2023, the firm manages 39 unit trust funds, two private retirement schemes (consisting of 6 core funds and 1 non-core fund), two exchange-traded funds (ETFs), 31 wholesale funds and other funds from government agencies, pension funds, insurance, corporate and individual clients with total assets under administration amounting to 18.82 billion ringgit ($3.95 billion).