Fund Goals / Features
Pheim Asia Ex-Japan Islamic Fund strives to provide the best possible return in the long-term by investing primarily in Asian markets excluding Japan through investments that comply with Shariah requirements.
Suitable for investors who:
- Have a long-term investment horizon;
- Are interested to diversify their portfolios to include investments in the countries in the Asia Pacific region excluding Japan rather than a restricted portfolio of domestic securities;
- Have a higher risk profile.
Islamic Equity/Growth Fund
Asset Allocation & Benchmark
The Fund adopts an investment policy and strategy by investing in a portfolio of Shariah-compliant equities primarily in the Asian markets excluding Japan through investments that comply with Shariah requirements. The asset allocation of the Fund, as a percentage of the NAV of the Fund, is at 70% and maximum 95% of the NAV of the Fund in Shariah-Compliant Equities and Equity-Related Securities, and the remaining balance will be invested in Sukuk and Islamic Liquid Assets. The performance benchmark of this Fund is an absolute return of 7% growth in NAV per annum over the long-term.
Fund Performance – Last 5 Years
| Annual Return | 2017 | 2018 | 2019 | 2020 | 2021 |
| Fund | 21.39% | -13.96% | 22.62% | 28.36% | -3.22% |
| Benchmark | 7.00% | ||||
| Outperformance | +14.39% | -20.96% | +15.62% | +21.36% | +10.22% |
|
Cumulative Return (1 year – 5 years) |
1 year
(2017) |
2 years
(2017 – 2018) |
3 years
(2017 – 2019) |
4 years
(2017 – 2020) |
5 years
(2017 – 2021) |
|
Fund (Since 1 January 2017) |
21.39% | 4.44% | 28.07% | 64.40% | 59.10% |
|
Benchmark (Since 1 January 2017) |
7.00% | 14.00% | 21.00% | 28.00% | 35.00% |
| Outperformance | +14.39% | -9.56% | 7.07% | 36.40% | 24.10% |
Source: Lipper IM & Bloomberg
Fund Performance – Since Inception
Source: Lipper IM & Bloomberg
Fund Performance: 3-,5-,10-years and total return since inception
Pheim Asia Ex-Japan Islamic Fund has established a good long-term track record with the fund outperforming the benchmark by +52.33%, +59.10%, and +118.48% for the 3-,5-, and 10-year periods ending 31 December 2021, respectively.
Cumulatively, Pheim Asia Ex-Japan Islamic Fund registered a total return of 128.73% for 15 years and 1 month since inception, outperformed the cumulative benchmark return (105.86%) by a good margin of +22.87%, as at 31 December 2021. The annualized return since inception was 5.62 % (versus benchmark of 4.89%), outperformed by +0.73% as at 31 December 2021. This Islamic equity/growth fund invests in among the most volatile stock markets in the world, and yet was still able to generate good performance and track record.
As at 31 December 2021
| Period | Fund Performance | Benchmark* | Outperformed By |
| 3-Year | 52.33% | 21.00% | +31.33% |
| 5-Year | 59.10% | 35.00% | +24.10% |
| 10-Year | 118.48% | 70.00% | +48.47% |
| Since Inception | 128.73% | 105.86% | +22.87% |
| Annualised Return
Since Inception |
5.62% | 4.89% | +0.73% |
Source: Lipper IM & Bloomberg
*Absolute Return of 7% p.a.
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”.
PAXJI conducted a unit split on the 30th of November 2017. The ratio of the split was 1:1, indicating that all unitholders of PAXJI 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 PAXJI before the unit split was ranging around MYR 1.30-1.33, 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 Awards & Accolade – Refinitiv Lipper Fund Awards
Over the past 15 years since inception, the Fund has established a good long-term performance track record.
Pheim Asia ex-Japan Islamic Fund has won 3 Refinitiv Lipper Fund Awards (Global Islamic – Equity Asia Pacific ex-Japan category) for 1-year period ending December 2013; 2-year period ending December 2014; and 3-year period ending December 2019. On the local awards, Pheim Asia ex-Japan Islamic Fund has also won 2 Refinitiv Lipper Fund Awards (Malaysia Islamic – Equity Asia Pacific ex-Japan category) for 5-year period ending December 2011; and 3-year period ending December 2019.
Fund Key Information
| Pheim Asia Ex-Japan Islamic Fund | |
| Category/Type of Fund | Equity/Growth |
| Launch Date | 1 November 2006 |
| Fund Size @ 31 Dec 2021 | MYR 26.0 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 0.7210 (RM 2.1784) |
| Min. initial investment | RM 1,000 |
| Min. Additional investment | RM 100 |
| EPF Member’s Investment Scheme | Yes |