Investor Information
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  • External Fund Manager
  • Investment Committee
  • Manager’s Delegate
  • Shariah Adviser
  • External Fund Manager
    Nikko Asset Management Co., Ltd.
    Nikko Asset Management is one of Asia’s largest asset managers, providing high-conviction, active fund management across a range of Equity, Fixed Income, Multi-Asset and Alternative strategies. In addition, its complementary range of passive strategies covers more than 20 indices and includes some of Asia’s largest exchange-traded funds (ETFs) has over 60 years’ experience in Asia.

    Headquartered in Asia since 1959, the firm employs approximately 200** investment professionals, representing approximately 30 nationalities across 11 countries. More than 400 banks, brokers, financial advisors and life insurance companies around the world distribute the company’s products.

    The investment teams benefit from a unique global perspective complemented by the firm’s historic Asian DNA, striving to deliver consistent excellence in performance. The firm also prides itself on its progressive solution-driven approach, which has led to many innovative funds launched for its clients.

    For more information about Nikko Asset Management, please visit the firm’s website.

    Total Value of Unit Trust Funds under the Management of Nikko AM: USD246.5bn

    * Consolidated assets under management and sub-advisory of Nikko Asset Management and its subsidiaries as of 31 December 2019.
    ** As of 31 December 2019, including employees of Nikko Asset Management and its subsidiaries.
    AIIMAN Asset Management Sdn. Bhd.

    AIIMAN Asset Management Sdn. Bhd. (AIIMAN) is an Islamic investment management company managing assets for pension funds, institutions, corporates, high net worth and mass affluent individuals.

    Headquartered in the world’s Islamic financial hub Kuala Lumpur, Malaysia, AIIMAN is focused on providing clients exceptional and innovative Shariah investment solutions that focus on Asian equities and global Sukuk.

    AIIMAN is licensed by the SC to undertake the regulated activity of Islamic fund management on 17 November 2008 and is a wholly owned subsidiary of Affin Hwang Asset Management Berhad and a member of the Affin Hwang Investment Banking Group. AIIMAN also received SC’s approval on 27 December 2018 to carry out the activity as a unit trust management company. AIIMAN has been in the fund management industry since 2008.

    Total Value of Unit Trust Funds under the Management of AIIMAN: RM17bn

    (Figures as at 30 April 2020)

  • Investment Committee
    Role of the Investment Committee

    The investment committee formulates, establishes and implements investment strategies and policies. The investment committee will continually review and monitor the success of these strategies and policies using predetermined benchmarks towards achieving a proper performance for the Fund. The investment committee will also ensure investment guidelines and regulations are complied with. The investment committee will meet at least once every quarterly or more should the need arise.

    The Investment Committee Members
    Dato’ V. Danapalan (Chairman, Independent Member)

    Dato’ V. Danapalan holds a B.A. (Hons) from University Malaya and Masters in Public Administration from Pennsylvania State University, United States of America. He was previously the Chairman of the Malaysian Communications and Multimedia Commission (MCMC) until his retirement in March 2006. Prior to joining MCMC, he was a Senior Vice-President at the Multimedia Development Corporation Sdn. Bhd. Before this, he was the Secretary-General at the Ministry of Science, Technology and Environment, a position he held from 1991 to 1998. He currently serves on the Board of Malaysia University of Science and Technology (MUST), Multimedia University (MMU), Sirim QAS Sdn. Bhd., Gibraltar BSN Life Insurance, Telekom Malaysia Berhad, Maybank Foundation and Tun Sambanthan Scholarship Board.

    En. Mohammad Aminullah Bin Basir (Independent Member)

    Encik Mohammad Aminullah Bin Basir is an independent member of the Investment Committee for the Fund. He has vast experience in matters relating to collective investment schemes from his long serving tenure in the Securities Commission Malaysia. Encik Aminullah retired as the Deputy General Manager and Head of Investment Products in the Corporate Finance and Investment Division, after serving for 20 years covering various aspects of the capital market industry such as corporate finance (e.g. initial public offerings, acquisitions and mergers), collective investment schemes (e.g unit trust funds, real estate investment trusts, exchange traded funds, business trusts) and private retirement scheme. He started his career as an auditor with Ivor Barry and Co, a firm of Chartered Accountants in United Kingdom before returning to Malaysia as an internal auditor with Sime Darby Berhad. Encik Aminullah is a Fellow of the Association of Chartered Certified Accountants (ACCA), a Chartered Accountant with the Malaysian Institute of Accountants and he is also a certified member of Financial Planning Association of Malaysia (FPAM).

    Mr. Phuah Eng Chye (Independent Member)

    Mr. Phuah was previously the senior general manager and the head of the Strategy & Research Department at the SC. For a period of 10 years, he was involved in various capital market development and regulatory projects and led the project team that developed the Capital Market Masterplan 2. Prior to joining the SC, he was a regional bank analyst with Dresdner Kleinwort Benson where he was ranked among the top banking analysts in South East Asia. He was also head of Malaysian equities research for PB Securities and K&N Kenanga. He also previously worked as a remisier, a fund manager and as a financial journalist. He graduated with a degree in economics from the University of Manchester, United Kingdom in 1981.

    Dato’ Mohamad Ayob (Non-Independent Member)

    Dato’ Mohamad Ayob was an advisor of Affin Hwang Asset Management Berhad from January 2016 until December 2019. He was responsible to establish beneficial working relationship and networks with the regulatory authorities, statutory bodies and industry associates. Prior to Dato’ Ayob’s appointment with Affin Hwang Asset Management Berhad, he was the Chief Executive Officer of Affin Fund Management Berhad. He has over 25 years’ experience in treasury management and investment banking (including corporate recovery and debt capital market), other than 11 years’ experience in unit trust and asset management. He was an elected director and committee member of Federation of Investment Managers Malaysia for 9 consecutive years. Dato’ Ayob was a licensed Capital Market Services Representative, who was also graduated from University of Hull with a Master of Business Administration (Finance) and holds a Bachelor Degree in Economics (Honours) from University of Malaya.

  • Manager’s Delegate
    DEUTSCHE BANK (MALAYSIA) BERHAD

    Affin Hwang AM has appointed Deutsche Bank (Malaysia) Berhad (“DBMB”) to undertake the accounting and valuation function for the Fund by way of a service level agreement. Under the terms of the agreement, the Affin Hwang AM’s delegate will maintain proper accounts; carry out daily valuation/pricing and provide the unit prices for publication in the newspaper. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by Affin Hwang AM as required by the Guidelines.

    Background Information

    Deutsche Bank (Malaysia) Berhad (“DBMB”) is a wholly-owned subsidiary of the parent organisation, Deutsche Bank Aktiengesellschaft. Deutsche Bank established a presence in Kuala Lumpur, Malaysia in 1967 and was incorporated on the 22nd August 1994. DBMB offers its clients access to a growing domestic custody network that covers over 30 markets globally and a unique combination of local expertise backed by the resources of a leading global bank. With a worldwide team of custody experts, leading-edge technology and a track record of consistent product innovation, DBMB is committed to delivering exceptional and efficient domestic custody services to its clients. DBMB expanded its product offered to include fund accounting services in 2001.


    Deutsche Trustees Malaysia Berhad

    Affin Hwang AM has appointed Deutsche Trustees Malaysia Berhad (“DTMB”) to act as trustee and custodian of the assets of the Fund and to safeguard the interests of Unit Holders of the Fund. In performing these functions and duties, the Trustee has to exercise all due care and vigilance and is required to act in accordance with the provisions of the Deed, the Act and all relevant laws and the Guidelines.

    Background Information

    Deutsche Trustees Malaysia Berhad (“DTMB”) (Company No. 763590-H) was incorporated in Malaysia on 22 February 2007 and commenced business in May 2007. DTMB is registered as a trust company under the Trust Companies Act 1949, with its business address at Level 20, Menara IMC, 8 Jalan Sultan Ismail, 50250 Kuala Lumpur. DTMB is a member of Deutsche Bank Group (“Deutsche Bank”). Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals.

    HSBC (MALAYSIA) TRUSTEE BERHAD

    Affin Hwang AM has appointed HSBC (Malaysia) Trustee Berhad to undertake the accounting and valuation function for the Funds. The Trustee has invested significantly into information technology to offer accounting and valuation services to its clients. Under the terms of the Service Agreement, the Trustee would maintain proper records, and carry out daily valuation/pricing and sending the Unit prices for publication in the newspaper. All fees and expenses arising out of this appointment are not charged to the Funds and are solely borne by the Manager as required by the Guidelines.

    Background Information

    HSBC (Malaysia) Trustee Berhad (Company No. 1281-T), a company incorporated in Malaysia since 1937 and registered as a trust company under the Trust Companies Act 1949, with its registered address at 13th Floor, Bangunan HSBC, South Tower, No 2, Leboh Ampang, 50100 Kuala Lumpur.

    CIMB ISLAMIC TRUSTEE BERHAD

    Affin Hwang AM has appointed CIMB Islamic Trustee Berhad (“the Trustee”) to undertake the accounting and valuation function for the Fund by way of a service level agreement. Under the terms of the agreement, the Trustee would maintain proper accounts, carry out daily valuation/pricing and sending the Unit prices for publication in the newspaper. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by Affin Hwang AM as required by the Guidelines.

    Background Information

    CIMB Islamic Trustee Berhad was incorporated on 19 January 1988 and registered as a trust company under the Trust Companies Act, 1949 and having its registered office at Level 13, Menara CIMB, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia. The Trustee is qualified to act as a trustee for collective investment schemes approved under the Capital Markets and Services Act 2007. CIMB Islamic Trustee Berhad has an authorised capital of RM5,000,000 divided into 500,000 ordinary shares of RM10 each of which the total issued capital is RM2,000,000 divided into 200,000 ordinary shares of RM10 each, and the total paid up capital is RM1,000,000 divided into 200,000 ordinary shares of RM10 each and partly paid-up at RM5 each.

    CIMB COMMERCE TRUSTEE BERHAD

    CIMB Commerce Trustee Berhad was incorporated in Malaysia on 25 August 1994 under the Companies Act 1965. Affin Hwang AM has appointed CIMB Commerce Trustee Berhad to undertake the accounting and valuation function for the Funds. The fund accounting and valuation agents will maintain proper accounts, carry our daily valuation/pricing and forwarding the Unit prices to the daily newspaper for publication. All fees and expenses arising out of this appointment are not charged to the Funds and are solely borne by Affin Hwang AM as required by the Guidelines.

    TMF TRUSTEES MALAYSIA BERHAD

    Affin Hwang AM has appointed TMF Trustees Malaysia Berhad to undertake the accounting and valuation function for the Fund by way of a service level agreement. Under the terms of the agreement, management company’s delegate will maintain proper accounts, carry out daily valuation/pricing and provide the unit prices for publication in the newspaper. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by the Manager as required by the Guidelines.

    TMF Trustees Malaysia Berhad (Company No. 200301008392) was incorporated in Malaysia on 1 April 2003 and registered as a trust company under the Trust Companies Act 1949 on 9 October 2003. Its registered and business address is at 10th Floor, Menara Hap Seng, No. 1 & 3, Jalan P. Ramlee, 50250 Kuala Lumpur, Malaysia. The Trustee is part of TMF Group, an independent global service provider in the trust & fiduciary sector. The group has 125 offices in more than 83 jurisdictions in the world. TMF Trustees started in Malaysia in 1992 with its first office in Labuan International Business Financial Centre (IBFC), providing trust and fiduciary services. The Kuala Lumpur office was established in 2003 to support the Labuan office in servicing Malaysian clients and to undertake domestic trust business. The Trustee provides various types of trustee business, such as trustee and security trustee for private debt securities (PDS), corporate administrator to asset-backed securities (ABS), trustee for unit trust funds & private trust and custodian for private fund mandate. The TMF Group provides a more comprehensive range of corporate secretarial services, financial accounting, HR administrative and payroll outsourcing services.

    Maybank Trustees Berhad

    Affin Hwang AM has appointed Maybank Trustees to act as custodian of the Fund and to exercise all due diligence and vigilance in carrying out its functions and duties and to safeguard the rights and interests of the Unitholders. Apart from being the legal owner of the Fund’s assets, the Trustee is responsible for ensuring that the Manager performs its obligations in accordance with the provisions of the Deed and the relevant laws.

    Background Information

    Maybank Trustees Berhad (“MTB”) was incorporated on 12 April 1963 and registered as a Trust Company under the Trust Companies Act 1949 on 11 November 1963. It was one of the first local trust companies to provide trustee services with the objective of meeting the financial needs of both individual and corporate clients.

    AmanahRaya Trustees Berhad

    Affin Hwang AM has appointed AmanahRaya Trustees Berhad as the custodian of the Fund and safeguards the interest of the Unit Holders. Exercises all due diligence and vigilance in carrying out its functions and duties in accordance with the Deed, SC Guidelines, Capital Markets and Services Act 2007 and securities laws. Ensures that the Manager manages and administers the Fund in accordance with the Deed, SC Guidelines, Capital Markets and Services Act 2007 and securities laws. Ensures proper records are kept of all transactions, dividends, interest and income received and distributed in respect of the Fund. Requires the Manager to keep the Trustee fully informed as to the details of the Manager’s policies in investments and any changes thereof. Ensures the accounts are audited at the end of each accrual period by the auditors and ensure that each Unit Holder receives a copy of the audited annual accounts within two months after the financial year-end.

    Background Information

    AmanahRaya Trustees Berhad was incorporated under the laws of Malaysia on 23 March 2007 and registered as a trust company under the Trust Companies Act 1949. ART is a subsidiary of Amanah Raya Berhad (ARB) which is wholly owned by the Minister of Finance (Incorporated). ART took over the corporate trusteeship functions of ARB and acquired ARB’s experience of more than 50 years in trustee business. ART has been registered and approved by the SC to act as trustee to unit trust funds.

    Data as at 31 March 2020

  • Shariah Adviser
    Amanie Advisors Sdn Bhd

    Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. Amanie is a registered Shariah adviser with the SC. Amanie also focuses on organizational aspect of the development of human capital in Islamic finance worldwide through providing updated quality learning embracing both local and global issues on Islamic financial products and services. The company is led by Datuk Dr. Mohd Daud Bakar and teamed by an active and established panel of consultants covering every aspect related to the Islamic banking and finance industry both in Malaysia and the global market. Currently the team comprises of eight (8) full­time consultants who represent dynamic and experienced professionals with a mixture of corporate finance, accounting, product development, Shariah law and education. Amanie has more than 10 years of experience in advisory role in capital markets including unit trust funds and funds management. As at 29 February 2020, Amanie acts as Shariah Adviser to 102 Islamic funds.

    Designated Person Responsible for Shariah Matters of the Fund
    Datuk Dr. Mohd Daud Bakar ­ Shariah Adviser/Executive Chairman

    Datuk Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in few cities globally. He has recently being appointed as the Chairman of the Shariah Advisory Council (SAC) of the Astana International Financial Centre (AIFC), Kazakhstan. He also serves as the Chairman of the SAC at the Central Bank of Malaysia, the Securities Commission of Malaysia, the Labuan Financial Services Authority, the First Abu Dhabi Bank, and Permodalan Nasional Berhad. Datuk Dr Daud is also a Shariah board member of various global financial institutions, including the National Bank of Oman (Oman), Amundi Asset Management (France), Bank of London and Middle East (London), BNP Paribas Najma (Bahrain), Natixis Bank (Dubai), Oasis Asset Management (South Africa), Noor Islamic Bank (Dubai), Morgan Stanley (Dubai), Sedco Capital (Saudi and Luxembourg), and Dow Jones Islamic Market Index (New York) amongst many others. In July 2019, he has just been appointed as the 8th President of the International Islamic University of Malaysia (IIUM) due to his vast skill and experience serving the university. His last post there was as the Deputy Vice-Chancellor before. In the corporate world, Datuk sits as a Board Director at Sime Darby Property Berhad and a member of the PNB Investment Committee. He was recently appointed as a Chairman to Malaysia Islamic Economic Development Foundation (YaPEIM). He is also the third Chair Professor in Islamic Banking and Finance of Yayasan Tun Ismail Mohamed Ali Berdaftar (YTI) PNB at Faculty of Economics and Muamalat, Universiti Sains Islam Malaysia (USIM). In addition, he is the co-founder of Experts Analytics Centre Sdn Bhd and MyFinb. In 2016, he received the “Award of Excellence for Outstanding Contribution for Shariah Leadership & Advisory” at London Sukuk Summit Awards and “Shariah Adviser Award” at The Asset Triple A Islamic Finance Award. In 2014, he received the “Most Outstanding Individual” award by His Majesty, the King of Malaysia, in conjunction with the national-level Prophet Muhammad’s birthday. Under his leadership, Amanie Advisors received the “Islamic Economy Knowledge Infrastructure Award” at the Global Islamic Economy Summit, Dubai 2015, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, October 2015. He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya.

    The number of funds in which it acts as adviser: 102

    (Figures as at 29 February 2020)

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Copyright © 2020 Affin Hwang Asset Management Bhd
TENG CHEE WAI

Managing Director
Teng Chee Wai is the founder of Affin Hwang Asset Management Berhad (Affin Hwang AM). Over the past decade, he has built the Company to be the fastest growing and only independent investment management house in Malaysia’s top three, with an excess of RM47 billion in assets under management as at 31 December 2018.​

​In his capacity as Managing Director / Executive Director, Teng manages the overall business and strategic direction as well as the management of the investment team. His hands-on approach sees him actively involved in investments, product development and marketing. Teng’s critical leadership and regular participation in reviewing and assessing strategies and performance has been pivotal in allowing the Company to successfully navigate the economically turbulent decade.

Teng’s investment management experience spans more than 20 years, and his key area of expertise is in managing absolute return mandates for insurance assets and investment-linked funds in both Singapore and Malaysia. Prior to his current appointments, he was the Assistant General Manager (Investment) of Overseas Assurance Corporation (OAC) and was responsible for the investment function of the Group Overseas Assurance Corporation Ltd.​

​Teng began his career in the financial industry as an Investment Manager with NTUC Income, Singapore. He is a Bachelor of Science graduate from the National University of Singapore and has a Post-Graduate Diploma in Actuarial Studies from City University in London.
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