External Fund Manager

Pheim Asset Management Sdn Bhd (“PAMSB”)

The investment management, compliance and risk management functions of the Manager have been delegated to PAMSB, the holding company of the Manager.  As PAMSB is a holder of the Capital Markets Services Licence, the approval of the SC is not required for the delegation.

PAMSB commenced its operations on 4 January 1994. PAMSB is part of an established fund management group in Malaysia and Singapore. Founded by Dr Tan Chong Koay, the Pheim Asset Management Group (“Pheim Group”) currently comprises 3 offices, namely PAMSB, Pheim Asset Management (Asia) Pte Ltd and PUTB. The Pheim Group specializes in investing in the equity markets of Malaysia, ASEAN and Asia ex-Japan.

As a delegate of the Manager, PAMSB implements the investment strategies determined by the investment committee and manages the Funds on behalf of the Manager.

As a delegate of the manager, PAMSB also performs the compliance and risk management functions on behalf of the Manager.

The remuneration of PAMSB is borne by the Manager.

The total staff strength of PAMSB as at 31 March 2017 is sixteen (16) and all of them are executives.

The following table shows the amount of funds with the breakdown in type of assets under management by PAMSB as at 31 March 2017:

Amount (RM million)

Percentage of total (%)

1 Equities

902.4

87.51

2

Fixed income instruments, deposits & cash

128.8

12.49

 

Total assets under management

1,031.2

100


PAMSB has discretionary authority over the investments of the Funds subject to the Guidelines and regulations issued by the relevant authorities, i.e. the SC and Bank Negara Malaysia.

PAMSB reports to the investment committee of the Funds on a monthly basis on the status of the Funds, proposes investment strategies and discusses matters relating to the Funds. Apart from the monthly meetings, the investment committee will meet with PAMSB more frequently should circumstances require.