KUALA LUMPUR: AHAM Asset Management Bhd (AHAM Capital) has declared a total income distribution of RM948.3 million for the financial year 2023 across 84 wholesale and retail funds managed by the company, encompassing diverse asset classes such as equities, bonds and mixed assets.
Chief officer of product solutions and customer experience Anton Tan said it can flexibly adjust its asset allocation to suit market conditions by adopting an absolute return mindset and also it was not bound by any benchmarks.
"Our investment process is then overlaid with a level of macro awareness as well as a clear focus on fundamentals to drive outperformance," he said in a statement today.
According to Tan, the market turning moments indicate that conditions for risky assets are getting better this year as the recent indicators point towards a deceleration of inflation, reinforcing the view that the United States (US) Federal Reserve is nearing the peak of its tightening cycle.
"The pullback in yields has tempered the strength of the US dollar which will benefit emerging markets including Asia.
"A stable US interest rate outlook and the avoidance of a hard landing in the US could act as catalysts for strong performance in emerging market (EM) and Asian equities," he said.
Tan added that the potential for more muscular policy support from China could also help shore up growth in the country and provide tailwinds to the rest of the region.
He noted that despite a recent easing of tensions between the US and China, the proximity of the US presidential elections in 2024 poses a risk of reigniting tensions.
Back home, Tan sees positive developments in the domestic landscape marked by political stability and a ramp-up in policy implementation.
"The rollout of various policy frameworks such as the National Energy Transition Roadmap (NETR), New Industrial Master Plan (NIMP) and a planned Johor-Singapore Special Economic Zone (JS-SEZ) would help lay the groundwork for sustainable growth as well as provide a clear narrative of the country’s economic direction to global investors,” Tan said.
AHAM Capital’s flagship Select and World Series delivered an income distribution yield ranging from 4.0 per cent to 6.0 per cent in 2023, spanning different currency classes including US dollar, Singapore dollar and ringgit.
Notably, the AHAM Asean Flexi Fund generated a distribution yield of 5.70 per cent as the region experienced a return of foreign fund flows, while the AHAM Select Bond Fund, AHAM Smart Invest Portfolio-Income and the AHAM World Series-Global Income Fund recorded distribution yields of 4.1 per cent, 4.3 per cent and 5.8 per cent respectively. - Bernama
