Fund Goals / Features
Dana Makmur Pheim is an Islamic Balanced Fund which aims to provide its Unit Holders with steady income and potential for capital appreciation in the longer term by investing in a balanced portfolio of Equities and Fixed Income Instruments which strictly comply with the principles of the Shariah.
The investor profile of Dana Makmur Pheim consists of conservative equity investors, who are willing to accept a moderate level of risk, and have a preference for a steady income stream and have the potential for capital appreciation.
Islamic Balanced Fund



Asset Allocation & Benchmark
The Fund adopts an investment policy and strategy by investing in a Balanced portfolio of Shariah-Compliant Equities as well as Sukuk and Islamic Liquid Assets. The asset allocation of the Fund, as a percentage of the NAV of the Fund, is at 0% – 60% in Shariah-Compliant Equities and Equity-Related Securities. The remainder will be investment in Sukuk and Islamic Liquid Assets. The performance benchmark of this Fund is the weighted average of 60% of FTSE Bursa Malaysia EMAS Shariah Index, and 40% of Maybank 1-year General Investment Account (GIA) deposit rate.
Fund Performance – Lipper Ranking
The Fund was ranked number 1 for the 10-year period for the 10th consecutive year ending December 2012 until December 2021.
The Fund was also ranked number 1 for the 15-year period for the 5th consecutive year ending December 2017, 2018, 2019, 2020 and 2021.


Fund Performance – Last 5 Years
Annual Return | 2017 | 2018 | 2019 | 2020 | 2021 |
Fund Annual Return | 20.70% | -9.45% | 18.09% | 17.34% | -0.38% |
Benchmark Annual Return | 7.82% | -6.85% | 3.79% | 6.76% | -3.77% |
Outperformance | +12.88% | -2.60% | +14.30% | +10.58% | +3.39% |
Cumulative Return (1 year – 5 years) |
2017 | 2017 – 2018 | 2017 – 2019 | 2017 – 2020 | 2017 – 2021 |
Fund (Since 1 January 2017) |
20.70% | 9.29% | 29.06% | 51.44% | 50.85% |
Benchmark (Since 1 January 2017) |
7.82% | 0.43% | 4.26% | 12.09% | 8.43% |
Outperformance | +12.88% | +8.86% | +24.80% | +39.35% | +42.42% |
Cumulative Return (Since Inception) |
2017 | 2018 | 2019 | 2020 | 2021 |
Fund | 356.44% | 313.63% | 388.06% | 472.67% | 470.47% |
Benchmark | 123.46% | 108.14% | 116.07% | 132.32% | 124.73% |
Outperformance | +232.98% | +205.49% | +271.99% | +340.35% | +345.74% |
Source: Lipper IM & Bloomberg
Fund Performance – Since Inception

Source: Lipper IM & Bloomberg
Fund Performance – Peer to Peer Review
Dana Makmur Pheim has established a good long-term track record with the fund outperforming the benchmark by +30.08%, +42.42%, +110.24%, and +158.08% for the 3-,5-,10-, and 15-year periods ending 31 December 2021, respectively.
Cumulatively, Dana Makmur Pheim registered at a total return of 470.47% for 19 years and 11 months since inception, outperformed the cumulative benchmark return (124.73%) by a big margin of +345.74% as at 31 December 2021. The annualized return since inception was 9.15% (versus benchmark return of 4.16%), outperformed by +4.99% as at 31 December 2021. This Islamic balanced fund has a maximum portfolio allocation of 60% in Shariah-compliant equities, and yet was still able to generate such an outstanding performance and track record.
Dana Makmur Pheim - As at 31 December 2021
Period | Dana Makmur Pheim | Benchmark* | Outperformed By |
3-Year | 38.03% | 7.95% | +30.08% |
5-Year | 50.85% | 8.43% | +42.42% |
10-Year | 138.09% | 27.85% | +110.24% |
15-Year | 222.97% | 71.89% | +151.08% |
Since Inception | 470.47% | 124.73% | +345.74% |
Annualised Return
Since Inception |
9.15% | 4.16% | +4.99% |
* Weighted Average of 60% of FTSE Bursa Malaysia EMAS Shariah Index Return & 40% of Maybank 1-Year GIA Rate
Source: Lipper IM & Bloomberg
When Dana Makmur Pheim is Compared To Its Peers...
Islamic Mixed Asset MYR Balanced – Malaysia | 28.01.2002 – 31.12.2021 | |
---|---|---|
Total Return Since Inception | Annualised Return Since Inception | |
Dana Makmur Pheim
No.1 |
470.47% | 9.15% |
Top Competitor
No.2 |
209.26% | 5.84% |
Top Competitor
No.3 |
143.03% | 4.57% |
Source: Lipper IM
Fund Awards & Accolade - Best of the Best Country Awards (Malaysia)
For five consecutive years, Dana Makmur Pheim was awarded the Best of the Best Country Awards (Malaysia) by Asia Asset Management for the category of “Best Islamic Product” in 2018, 2019 and 2020; “Best Islamic Fund (Balanced Fund)” in 2021; and “Best Islamic Fund” in 2022.

Fund Awards & Accolade – Refinitiv Lipper Fund Awards
Over the past 20 years since inception, the Fund has established long-term performance track record. Dana Makmur Pheim has won a total of 55 Refinitiv Lipper Fund Awards, consisting of 35 Malaysia Islamic Awards and 20 Global Islamic Awards. Not a single fund in this category has ever won so many awards in Malaysia’s unit trust history.

Fund Awards & Accolade – Consistency in Winning Refinitiv Lipper Fund Awards
Period | Malaysia Islamic | Global Islamic | Malaysia Provident |
1-Year/
2-Year |
1-Year Period
2-time winner (2003,2004) |
1-Year Period 2-time winner (2013,2014) 2-Year Period 1-time winner (2014) |
N/A |
3-Year | 5-time winner
(2014,2015,2016,2017,2019) |
5-time winner
(2014,2015,2016,2017,2019) |
3-time winner
(2016,2017,2019) |
5-Year | 7-time winner
(2007,2014,2015,2016,2017,2018,2019) |
5-time winner
(2015,2016,2017,2018,2019) |
3-time winner
(2016,2017,2019) |
10-Year | 9-time winner
(2012,2015,2016,2017,2018, 2019,2020,2021,2022) |
7-time winner
(2015,2016,2017,2018, 2019,2020,2021) |
6-time winner
(2017,2018,2019, 2020,2021,2022) |
In term of performance consistency, Dana Makmur Pheim has won the Refinitiv Lipper Fund Awards numerous times.
- On our global achievements, Dana Makmur Pheim has won the Global Islamic Lipper Awards for its 5-year period results ending December 2015, 2016, 2017, 2018 and 2019, five years on a roll; and in the 10-year period for seven consecutive years for its results ending December 2015 to 2021.
- In the local arena, Dana Makmur Pheim has won the Malaysia Islamic Lipper Awards for 5-year period for six consecutive years for its results ending December 2014 to 2019: and in the 10-year period for eight consecutive years for its results from ending December 2015 to 2022.
Fund Historical Income Distribution
Over its 20 years of operation, Dana Makmur Pheim has consistently produced income distributions every year without fail (thanks to the cash reserves it accumulated via realized profits arising from stock disposals).

Fund Unit Split
Investors tend to very sensitive to the pricing of a fund’s NAV. Here the philosophy of “Buy Low-Sell High” sentiments tend to override rationale and people shy away from a fund as they feel it is overvalued. By conducting a unit split, the fund’s selling price is lowered to encourage new investments.
According to the guideline laid out by the Securities Commission Malaysia “A unit split may only be conducted when the monthly average NAV per unit of the fund has shown a sustainable appreciation over 6-month period preceding the unit split exercise”.
Dana Makmur Pheim conducted a unit split on the 25th of August 2017. The ratio of the split was 1:1, indicating that all unitholders of Dana Makmur Pheim would now hold double (x2) the number of units they originally bought but said units would amount to the original NAV value before the split occurred.
Pheim made the decision that this was necessary as the buying price per unit of Dana Makmur Pheim before the unit split was ranging around MYR 2.22-2.24, which was considered high at the time. The sharp rise in unit price is directly correlated with improving fund performance as the value of the underlying assets were appreciating at too high rate.

Fund Key Information
Dana Makmur Pheim | |
Category/Type of Fund | Mixed Asset/Balanced |
Launch Date | 28 Jan 2002 |
Fund Size @ 31 Dec 2021 | MYR 264.2 million |
Investment Manager | Pheim Asset Management Sdn Bhd |
Trustee | Maybank Trustees Bhd |
Shariah Adviser | Amanie Advisors Sdn Bhd |
Maximum Sales Charge | 5% |
Annual Management Fee | 1.5% |
Annual Trustee Fee | 0.055%
effective 1st Mar 2022 |
Initial Offer Price | RM 1.00 |
NAV/Unit @ 31 Dec 2021 (Adjusted for distribution since inception) | RM 1.1746
(RM 5.4195) |
Min. initial investment | RM 1,000 |
Min. Additional investment | RM 100 |
EPF Member’s Investment Scheme | Yes |