KUALA LUMPUR: StashAway Malaysia, a digital wealth management platform, is targeting RM80 million in investments within the next 12 months through its newly launched syariah global portfolios designed to offer Malaysians globally diversified syariah-compliant investment solutions.
Its country manager, Wai Ken Wong, said the company decided to venture into syariah-compliant investing and introduce it to the Malaysian market, given the significance of the segment.
“As you can see, the syariah fund management industry accounts for about 20% to 25% of the overall market, valued at RM263 billion. Thus, we have to be part of this demand,” he said at a media briefing in conjunction with the product launch today.
Wai noted that syariah global portfolios are also being introduced in Singapore and the United Arab Emirates, in addition to Malaysia, saying that while the take-up rate is still small, it is growing quickly.
He added that as a digital fund manager operating under the Securities Commission Malaysia’s digital investment manager licence, the regulator has been highly supportive of all its product offerings.
Thus, he said the syariah global portfolios are intended to be mainstream rather than cutting-edge, building on the firm’s existing multi-asset global portfolios to provide a yesterday -compliant alternative for investors.
In a statement, the company said these syariah-compliant diversified portfolios have delivered back-tested returns of up to 14.4% annually over the past five years.
“The portfolios have demonstrated strong five-year annualised historical returns ranging from 7.3% to 14%, positioning the company competitively against conventional investment options,” it said.
Built with low-cost syariah-compliant exchange-traded funds, which have ample liquidity and low tracking errors, clients benefit from efficient execution.
StashAway's syariah-compliant offerings have been screened and certified by Masryef Advisory, a syariah advisory firm registered with the Securities Commission. – Bernama
