MAS names sustainability head; Malaysia’s EPF appoints COO and CFO; GIC PE head for SEA leaves; State Super hires new exec; Hesta appoints chief growth officer, chief Debby Blakey appointed to corporate governance board; ex-BlackRock exec joins IQ-EQ in Singapore; HSBC AM builds direct real estate team; ex-Vanguard head of distribution joins LGIM; Sanne names Singapore head; and more
Equity funds, which were last yearÆs top performers, led the decline with an average loss of 6.47%. Funds that invest in Greater China and the Asia-Pacific region suffered the steepest losses.
Islamic sub-sector funds were down 2.83% on average, but managed to outperform the broader market. Money market funds held steady.
ôMalaysia is increasingly being touted for its defensive qualities, but a slowing global economy and rising inflationary pressures remain risks,ö says Singapore-based Kenneth Koh, head of research for Asia ex-Japan at Lipper, referring to sentiment for the local market.
The Malaysian bourse started the first trading month of 2008 on a rosy note, gaining nearly 5% at one stage to touch an all-time high of 1,524.69 points. A deteriorating US growth outlook and heavy selling pressure amid sliding global bourses eventually saw the benchmark KL Composite Index giving up all its gains and falling sharply to a low of 1,340.29 points last month. Bargain hunting and a technical rebound at the end of the month enabled the KL Composite Index to close the month with a relatively smaller decline of 3.58% at 1,393.25 points, outperforming most of the other markets in the region.
Average performance of fund groups registered for sale in Malaysia in January, by asset types:
Equity Funds -6.47%
Mixed-Asset Funds -3.70%
Guaranteed Funds -1.71%
Protected Funds -1.38%
Bond Funds -0.17%
Money Market Funds +0.21%
Top 5 fund sectors in terms of performance in January, with their average gain/loss:
Equity Sector Gold and Precious Metals +5.04%
Bond Global +0.83%
Money Market Malaysian ringgit +0.21%
Bond Malaysian ringgit -0.06%
Bottom 5 fund sectors in terms of performance in January, with their average loss:
Equity Greater China -16.44%
Equity Asia-Pacific -12.74%
Equity Sector Real Estate -10.56%
Equity Global -10.50%
Equity Asia-Pacific Ex-Japan -10.26%
The AU$85 billion ($61.6 billion) Australian super fund has some exposure to indebted property developer Evergrande. Meanwhile, China’s construction finance is part of its core strategy in real estate.
Investors are seeing the risks, but also the opportunities of the logistics sector. Warehousing their fears for the moment, they can see it's a good conduit to high-growth assets.
Insto roundup: GPIF staff say J-Reits more attractive than traditional assets; Hong Kong's strict Spac criteria
EISS Super hit by another scandal; China's CSRC launches consultation on disclosure requirements for new BSE securities; Hong Kong issues consultation paper on Spacs; New World Development partners with China Taiping to focus on Greater Bay Area projects; GPIF employees say Japanese Reits have grown more attractive; Taiwan's BLF invites bid for $1.7 billion mandate; and more
SGX’s new framework for Spacs will likely provide investors with a much-needed channel for direct deals, but the verdict is still out on whether it will bring liquidity to the bourse.