SHAH ALAM: Berjaya Corp Bhd’s (BCorp) fund management subsidiary Inter-Pacific Asset Management Sdn Bhd (IPAM), which has appointed renowned financial economist Datuk Dr Nazri Khan (DDNK) as its new head, aims to become one of the top leaders in the syariah global asset management industry.
Nazri is a prominent figure and notable economist among investors.
An economics graduate from Manchester University, UK and a PhD holder from Multimedia University, Nazri was the former senior vice-president (investment) of fund management company Phillip Capital Management and former chief investment officer of private equity specialist Widuri Capital Sdn Bhd. Prior to that, he was the head of retail research in Affin Hwang Investment Bank. He is the chairman of Malaysian Association of Technical Analysts.
He is a proponent of the ultra-growth investing style and specialises in the syariah global stock market, with US stocks in particular.
Nazri said there are 70,000 syariah stocks in the world. His monster stock picks include Amazon, Microsoft, Google, Tesla and Nvidia which have generated more than 20-fold return over the last 10 years.
BCorp founder and executive chairman Tan Sri Vincent Tan said he is impressed with Nazri’s track record in managing a sizeable fund, which has achieved return on investment of 17% within five months.
Tan is confident that as the new head of IPAM, Nazri will be able to substantially increase the number of investors, particularly from the Muslim community, to IPAM and diversify its current investor base, as well as introduce new fund products to the market.
“We’re going to focus more on syariah stocks outside Malaysia, mostly on US syariah blue-chip stocks. We believe that at this moment, the US stock market is the strongest. There is a lot of demand for syariah-compliant US stocks in Malaysia,” Nazri told a press conference at the Menang Saham Bersama DDNK seminar last Saturday.
He added that IPAM’s focus on the foreign market (US) is an advantage at the moment given that the US dollar is expected to strengthen over the next few years.
Under the leadership of Nazri, IPAM is targeting to grow its asset under management to RM1 billion in three years, focusing on syariah stocks inside and outside Malaysia.
“We’re going to launch new unit trusts, specialising in syariah US stocks,” said Nazri, adding that it wants to position IPAM as a significant player in the syariah global stock market.
Earlier at the seminar, IPAM launched the InterPac Capital Preservation and Growth Fund (ICPG), a wholesale mixed asset fund which seeks to provide capital preservation, consistent income and growth by investing in a diversified portfolio of securities and deposits.
The fund aims to provide an annual return of 4% and a targets return of at least 30% on a cumulative basis over three years.
It is suitable for sophisticated investors who have a medium- to long-term investment horizon with a minimum initial investment of RM50,000.
