KUALA LUMPUR: MCIS Insurance Bhd anticipates a positive recovery in 2024, especially for the local market, supported by improved corporate earnings and a resilient domestic economy.
Chief investment officer Wan Mohd Fakruddin Razi said the company’s investment strategy is planned to account for economic factors influencing performance, with a strong focus on achieving long-term growth and stability.
“MCIS investment’s portfolio is designed to accommodate market volatility, ensuring consistently good value for our clients.
“Given our consistent record of outperforming benchmarks in recent years, we maintain a positive outlook on the market.
“We are confident that the performance of MCIS investment will remain favourable. Our investment focus will target sectors poised to benefit from the economic recovery, aiming to secure positive capital appreciation for our investments,” he said.
He said sustainable investing, focusing on environmental, social and governance (ESG) factors, remains a key priority.
“In line with our commitment to sustainability, investments in non-ESG compliant assets will not exceed 10% of our total investments,” Mohd Fakruddin said.
For its financial year, which ended December 31, 2023, MCIS Life Dividend Fund gained 0.44% and outperformed the benchmark by 317 bps, whereas the FBMKLCI Index posted a negative return of 2.73%.
MCIS Life Equity Fund lost 0.35% in 2023. However, the fund outperformed the benchmark on a yearly basis by 238 bps.
Meanwhile, MCIS Life Jati Fund posted a negative return of 0.16% for 2023, underperforming the benchmark FBM EMAS Shariah Index by 62 bps, which posted a gain of 0.46% for the same period.
These three local-based asset funds are managed to outperform the benchmark for the three-year and five-year periods.
The outperformance was mainly due to low exposure to underperforming stocks.
MCIS Insurance’s local fixed-income funds, MCIS Life Income Fund and MCIS Life Balanced Fund, overperformed their required benchmark by 147 bps and 87 bps annually, respectively.
Both funds also outperformed the benchmarks for the three-year and five-year periods.
