Affin Hwang raises over RM1.5bil funds

PETALING JAYA: Affin Hwang Asset Management Bhd has raised over RM1.53bil across its retail and wholesale fixed-income funds despite market jitters from the Covid-19 outbreak.

Chief marketing and distribution officer Chan Ai Mei said investors continued to seek income-based solutions to diversify their portfolios against heightened volatility in markets.

“As a defensive asset class, fixed income provides a measure of stability to one’s portfolio by reducing the variability of returns, as well as helping cushion losses in a market downturn, ” she said in a statement.

Chan advised investors not to be perturbed by any short-term impact the coronavirus might have on financial markets.

“With more decisive measures and effective control policies by governments in containing the outbreak, we view global economic recovery risks being delayed rather than derailed.

“Investors should continue to strive for diversification in their portfolios and stay disciplined in their approach by investing consistently, ” she added. — Bernama

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