Asset manager Kenanga Investors launches Shariah-compliant fund

Kenanga Investors, the asset management subsidiary of Malaysia's Kenanga Investment Bank, has launched the Kenanga Islamic Asia Pacific (ex-Japan) Total Return Fund. This new equity fund aims to invest in a diverse set of Shariah-compliant equities and related securities from companies in the Asia-Pacific region, excluding Japan. CEO Wira Ismitz Matthew De Alwis emphasised the growing influence of the APAC region in global markets, particularly in sectors like renewable energy, semiconductors, and electric vehicles. He anticipates the region's growth to surpass global averages in the coming years, offering significant investment opportunities in technology, consumer goods, industrials, and healthcare. The minimum investment for the fund is set at MYR1,000 (USD210). As of May 2023, Kenanga Investors managed assets totaling MYR18.82bn.