PETALING JAYA: AHAM Asset Management Bhd (AHAM Capital) has declared a total income distribution of RM948.3 million for the financial year 2023. The distribution spans 84 wholesale and retail funds managed by the company, encompassing diverse asset classes such as equities, bonds, and mixed assets.
AHAM Capital product solution and customer experience chief officer Anton Tan said, “Anchored by our investment philosophy, we are proud to uphold our commitment to investors by delivering a consistent income distribution, despite challenging market conditions. By adopting an absolute return mindset and not being bound by any benchmark, we are able to flexibly adjust our asset allocation to suit market conditions. Our investment process is then overlaid with a level of macro awareness as well as a clear focus on fundamentals to drive outperformance.”
Looking ahead to 2024, he said inflection points in markets signal a more favourable environment for risk assets ahead as recent indicators hint at deceleration of inflation, reinforcing the view that the 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,” he said, adding that a stable US interest rate outlook and the avoidance of a hard landing in the US could act as catalysts for strong performance in EM and Asian equities.
Tan said 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.
“However, it will be important to stay vigilant for geopolitical risks as 2024 will be an election year. 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. Furthermore, numerous countries like Korea, India, and Indonesia, are scheduled to hold general elections this year, he added.
On the local front, he said they see 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, New Industrial Master Plan and the planned Johor-Singapore Special Economic Zone would help lay the groundwork for sustainable growth as well as provide a clear narrative of the country’s economic direction to global investors,” said Tan.
The company’s flagship Select and World Series delivered an income distribution yield ranging from 4% to 6% in 2023, spanning different currency classes including US and Singapore dollars, and ringgit. Notably, the AHAM Asean Flexi Fund generated a distribution yield of 5.7% as the region experienced a return of foreign fund flows. Similarly, the AHAM Select Bond Fund, AHAM Smart Invest Portfolio - Income, and the AHAM World Series – Global Income Fund recorded distribution yields of 4.1%, 4.3% and 5.8% respectively.
As at Dec 31, 2023, total assets under administration (AUA) stood at about RM81 billion (combination of AHAM Capital and its subsidiaries, AIIMAN and Bintang Capital Partners). The AUA comprises assets under management, investment advisory and those under distribution.
