iFAST Capital Sdn Bhd managing director Dennis Tan Yik Kuan (left) and Kenanga Investors Bhd chief investment officer Lee Sook Yee (right).
KUALA LUMPUR: Kenanga Investors Bhd has received three awards at the FSMOne Recommended Unit Trust Awards 2023/2024.
The Kenanga Growth Fund Series 2 (KGFS2), Kenanga Shariah Growth Opportunities Fund (KSGOF) and the Kenanga Shariah OnePRS Growth Fund (KSOGF) have won the Sector Equity – Malaysia Focused, Sector Equity – Malaysia Small to Medium Companies (Islamic), and the Private Retirement Scheme – Growth (Islamic) awards respectively.
Kenanga said this marks KGFS2 and KSGOF’s second consecutive wins in their respective categories.
“After deciding on the asset allocation including invested and cash levels, the portfolio is constructed based on sector and stock selection. High conviction stocks are given higher allocation in the portfolio unless there is a liquidity constraint,” executive director and chief executive officer Datuk Wira Ismitz Matthew De Alwis said in a statement.
He said during periods of higher volatilities, the investment team may tactically scale back equity exposure to stay defensive.
“As we navigate the current market conditions, characterised by potential volatility and the Federal Reserve’s focus on combating inflation, our investment strategy remains prudent,” Ismitz said.
“We will adopt a balanced approach with regard to market and sector positioning. While domestic fundamentals and valuation remain supportive, the market might still be affected by global risk events. Sector-wise, we continue to favour the consumer and industrials sector. We have also observed trading opportunities in the oil & gas sector while we adopt a buy on weakness stance for the tech sector as the key beneficiary of long-term growth trends”.
The KSGOF fund has achieved impressive returns of 154.46% since inception, outperforming its benchmark of 71.71%.
Similarly, the KGFS2 fund has demonstrated sustainable performance, delivering returns of 49.53% against a benchmark of 46.06% since inception while KSOGF has shown commendable returns of 9.90% compared to a benchmark of 4.95% since inception, illustrating its ability to generate consistent growth over the long term.
