STAR Publications (M) Bhd has teamed up with leading global investment and research agency Standard & Poor's (S&P) to inaugurate the Investment Funds Award in Malaysia.
The Star/Standard & Poor's Investment Funds Award Malaysia 2003 is aimed at bringing a globally accepted performance evaluation standard to the country, a joint statement said yesterday.
The award is also in recognition of the rapid growth of the funds industry and its importance in the development of Malaysia's capital markets and economy.
Malaysia has over 160 funds registered for sale and only sectors containing four or more funds with sufficient history will be eligible for the award. A total of 15 awards from four time-period categories (one-year, three-year, five-year and 10-year) will be given away.
Only one award will be given to each qualifying sector and the winners will be true performers that have managed to excel despite market fluctuations.
The award ceremony will be held in Kuala Lumpur on March 26.
Standard & Poor's Investment Services for Asia-Pacific managing director, William Reidy, said the organisation was excited to have the opportunity to collaborate with one of the most reputable and influential media groups in Malaysia in inaugurating the award.
“We are also thrilled to be able to bring our global performance evaluation methodology, which has always been focused on consistency and risk management, to Malaysia because we firmly believe that only funds that consistently outperform their peers on a risk-adjusted basis can be considered top performers,” he said.
Star Publications managing director Datuk Steven Tan said the company was delighted to have a renowned rating agency to participate in assessing the best Malaysian investment fund managers.
“As Malaysia's leading newspaper, The Star is always conscious of its role in informing and educating its readers on the intricacies of investment, and this Star/Standard and Poor's Investment Funds Award will go a long way to highlight to its readers the importance of seeking professional advice when investing in the equities market,” he said.
Details relating to the evaluation methodology and ceremony will be announced soon.
Standard and Poor's Fund Services tracks the performance of 80,000 institutional, pension, insurance and mutual funds worldwide with 400 professionals in 13 countries.
The company is a leader in providing highly-valued financial data, analytical research and credit opinions to the global capital markets.
The Star is Malaysia's largest English language newspaper with a daily circulation exceeding 300,000 copies.
Did you find this article insightful?