Fund Goals / Features
Pheim Income Fund aims to provide its Unit Holders with consistent income returns in the medium to longer term by investing primarily in medium to long-term fixed income instruments. A smaller percentage of the fund is also invested in equites and other high yielding instruments.
Pheim Income Fund is suitable for risk adverse investors who are looking for consistent income while taking lower risks compared to equity investments. Investors in this class would like to seek better return as compared to most fixed deposits in the longer term.
Conservative Fund
Asset Allocation & Benchmark
The Fund adopts predominantly a value approach to investing combined with active asset allocation strategy. The external investment manager may vary its equities and fixed income instruments weighting accordingly to accommodate fluctuating market cycles and changing macroeconomic conditions. The asset allocation of the Fund, as a percentage of the NAV of the Fund, is at 70% – 100% in Fixed Income Instruments and Liquid Assets, and a maximum of 30% in Equities and Other High Yielding Instruments. The performance benchmark of this Fund is Maybank 1-Year FD rate at the beginning of the year.
Fund Performance – Last 5 Years
| Annual Return | 2017 | 2018 | 2019 | 2020 | 2021 |
| Fund | 5.36% | -2.51% | 6.80% | 5.00% | 2.17% |
| Benchmark | 3.10% | 3.10% | 3.10% | 2.21% | 1.85% |
| Outperformance | +2.26% | -5.61% | +3.70% | +2.79% | +0.32% |
|
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) |
5.36% | 2.71% | 9.70% | 15.19% | 17.69% |
|
Benchmark (Since 1 January 2017) |
3.10% | 6.45% | 9.55% | 11.76% | 13.61% |
| Outperformance | +2.26% | -3.74% | +0.15% | +3.43% | +4.08% |
|
Cumulative Return (Since Inception) |
2017 | 2018 | 2019 | 2020 | 2021 |
| Fund | 140.39% | 134.36% | 150.30% | 162.82% | 168.53% |
| Benchmark | 54.28% | 57.64% | 60.74% | 62.96% | 64.81% |
| Outperformance | +86.11% | +76.72% | +89.56% | +99.86% | +103.72% |
Source: Lipper IM & Bloomberg
Fund Awards & Accolade – Refinitiv Lipper Fund Awards
Fund Performance – Since Inception
Source: Lipper IM & Bloomberg
Fund Performance: 3-, 5-, 10-year and Total Return Since Inception
Cumulatively, PIF registered a total return of 168.53% for almost 20 years since inception, outperformed the cumulative benchmark return (64.81%) by a good margin of +103.72%, as at 31 December 2021. The annualized return since inception was 5.09 % (versus benchmark of 2.55%), outperformed by +2.54% as at 31 December 2021. By leveraging on an active asset allocation strategy as well as being supported by a maximum 30% equity exposure the Fund was able to generate good performance and track record, despite the highly volatile region it is operating in.
As at 31 December 2021
| Period | Fund Performance | Benchmark* | Outperformed By |
| 3-Year | 14.58% | 7.16% | +7.42% |
| 5-Year | 17.69% | 13.61% | +4.08% |
| 10-Year | 45.55% | 29.64% | +15.91% |
| 15-Year | 88.37% | 45.98% | +42.39% |
| Since Inception | 168.53% | 64.81% | +103.72% |
| Annualised Return
Since Inception |
5.09% | 2.55% | +2.54% |
Source: Lipper IM & Bloomberg
* Maybank 1-Year FD Rate
Fund Historical Income Distribution
Over its 20 years of operation, PIF has consistently produced income distributions every year without fail (thanks to the cash reserves it accumulated via realized profits arising from stock disposals).
Fund Key Information
| Pheim Income Fund | |
| Category/Type of Fund | Mixed Asset/ Conservative |
| Launch Date | 28 January 2002 |
| Fund Size @ 31 Dec 2021 | MYR 13.4 million |
| Investment Manager | Pheim Asset Management Sdn Bhd |
| Trustee | Maybank Trustees Bhd |
| Maximum Sales Charge | Nil |
| Annual Management Fee | 1.0% |
| 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 1.0580 (RM 2.6853) |
| Min. initial investment | RM 1,000 |
| Min. Additional investment | RM 100 |