Role of the Investment Committee
The investment committee formulates, establishes and implements investment strategies and policies. The investment committee will continually review and monitor the success of these strategies and policies using predetermined benchmarks towards achieving a proper performance for the Fund. The investment committee will also ensure investment guidelines and regulations are complied with. The investment committee will meet at least once every quarterly or more should the need arise.
The Investment Committee Members
Dato’ V. Danapalan (Chairman, Independent Member)
Dato’ V. Danapalan holds a B.A. (Hons) from University Malaya and Masters in Public Administration from Pennsylvania State University, United States of America. He was previously the Chairman of the Malaysian Communications and Multimedia Commission (MCMC) until his retirement in March 2006. Prior to joining MCMC, he was a Senior Vice-President at the Multimedia Development Corporation Sdn. Bhd. Before this, he was the Secretary-General at the Ministry of Science, Technology and Environment, a position he held from 1991 to 1998. He currently serves on the Board of Malaysia University of Science and Technology (MUST), Multimedia University (MMU), Sirim QAS Sdn. Bhd., Gibraltar BSN Life Insurance, Telekom Malaysia Berhad, Maybank Foundation and Tun Sambanthan Scholarship Board.
En. Mohammad Aminullah Bin Basir (Independent Member)
Encik Mohammad Bin Aminullah Basir is an independent member of the Investment Committee for the Fund. He has vast experience in matters relating to collective investment schemes from his long serving tenure in the Securities Commission Malaysia. Encik Aminullah retired as the Deputy General Manager and Head of Investment Products in the Corporate Finance and Investment Division, after serving for twenty (20) years covering various aspects of the capital market industry such as corporate finance (e.g. initial public offerings, acquisitions and mergers), collective investment schemes (e.g unit trust funds, real estate investment trusts, exchange traded funds, business trusts) and private retirement scheme. He started his career as an auditor with Ivor Barry and Co, a firm of Chartered Accountants in United Kingdom before returning to Malaysia as an internal auditor with Sime Darby Berhad. Encik Aminullah is a Fellow of the Association of Chartered Certified Accountants (ACCA), a Chartered Accountant with the Malaysian Institute of Accountants and he is also a certified member of Financial Planning Association of Malaysia (FPAM).
Dato’ Mohamad Ayob Abu Hassan (Independent Member)
Dato’ Mohamad Ayob Abu Hassan was an advisor of Affin Hwang Asset Management Berhad from January 2016 until December 2019. He was responsible to establish beneficial working relationship and networks with the regulatory authorities, statutory bodies and industry associates. Prior to Dato’ Ayob’s appointment with Affin Hwang Asset Management Berhad, he was the Chief Executive Officer of Affin Fund Management Berhad. He has over 25 years’ experience in treasury management and investment banking (including corporate recovery and debt capital market), other than 11 years’ experience in unit trust and asset management. He was an elected director and committee member of Federation of Investment Managers Malaysia for 9 consecutive years. Dato’ Ayob was a licensed Capital Market Services Representative, who was also graduated from University of Hull with a Master of Business Administration (Finance) and holds a Bachelor Degree in Economics (Honours) from University of Malaya.
AFFIN HWANG ASSET MANAGEMENT BERHAD
AIIMAN has appointed Affin Hwang Asset Management Berhad (“Affin Hwang AM”) to undertake and support the Operations covering fund operations, fund accounting and fund valuation, client and fund performance reporting, human resource, information technology and dealing by way of a service level agreement. Under the terms of the agreement, the AIIMAN’s delegate will carry out the following services:
|Functions delegate||Scope of services|
|Fund Operations||Monitor trades settlement inclusive of matching executed trades, resolve any failed trades, dealing with custodian, dealing with counterparty, maintaining proper records|
|Fund accounting and fund valuation||Maintain proper accounts, carry out daily valuation/pricing for private mandate clients|
|Client and fund performance reporting||Provide data and reports on the performance of the funds for preparation of periodical reporting to clients|
|Human resource||Provide human capital services inclusive of recruitment, talent management, performance management, industrial management etc.|
|Information technology||Provide support related to IT infrastructure management, maintenance and support (both hardware and software) as well as provision for support of development and testing of a detailed disaster recovery plan|
|Dealing||Executing trade order for equity, fixed income, foreign exchange and money markets|
In addition, AIIMAN also delegate the related control functions comprising compliance, risk and legal to Affin Hwang AM by way of service level agreement. Under the terms of the agreement, the AIIMAN’s delegate will carry out compliance and risk management services comprising monitoring, reporting, submission to regulator as well as advisory services.
Affin Hwang AM was incorporated in Malaysia on 2 May 1997 and began operations its operations under the name of Hwang-DBS Capital Berhad in 2001. In early 2014, Affin Hwang AM was acquired by Affin Banking Group (“Affin”) and hence now, is supported by a home-grown financial services conglomerate. Affin has over 40 years of experience in financial industry which focuses on commercial, Islamic and investment banking services, money broking, fund management and underwriting of life and general insurance business. Meanwhile Affin Hwang AM has 15 years’ experience in fund management industry. Affin Hwang AM is also 30% owned by Nikko Asset Management International Limited, a wholly-owned subsidiary of Tokyo-based Nikko Asset Management Co. Ltd, an Asian investment management franchise.
Affin Hwang AM’s head office is in Kuala Lumpur and has a total of 7 main sales offices located in Peninsular and East Malaysia. The sales offices are in Penang, Ipoh, Johor Bharu, Melaka, Kuching, Miri and Kota Kinabalu.
CIMB ISLAMIC TRUSTEE BERHAD
AIIMAN has appointed CIMB Islamic Trustee Berhad (the Trustee”) to undertake the accounting and valuation function for the Fund by way of a service level agreement. Under the terms of the agreement, the Trustee would maintain proper accounts and to carry out daily valuation/pricing. All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by AIIMAN as required by the Guidelines.
CIMB Islamic Trustee Berhad was incorporated on 19 January 1988 and registered as a trust company under the Trust Companies Act, 1949 and having its registered office at Level 13, Menara CIMB, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia. The Trustee is qualified to act as a trustee for collective investment schemes approved under the Capital Markets and Services Act 2007. The Trustee also provide fund accounting and valuation services to unit trust management companies and asset management companies.
KFIN TECHNOLOGIES (MALAYSIA) SDN BHD
AIIMAN has appointed Karvy Computershare (Malaysia) Sdn Bhd (“Karvy”) to undertake the accounting and valuation function for the Fund by way of a service level agreement. Under the terms of the agreement, the AIIMAN’s delegate will maintain proper accounts; carry out daily valuation/pricing and provide the unit prices for publication in the newspaper. Karvy also calculate the funds performances, monitors trade settlement activities inclusive of matching executed trades, resolve any failed trades, dealing with trustees and counterparty etc.
In addition, AIIMAN also appointed Karvy’s to undertake the function of maintaining the register of unit holders, transaction processing, reconciliation and preparing relevant communication to investors.
All fees and expenses arising out of this appointment are not charged to the Fund and are solely borne by AIIMAN as required by the Guidelines.
Karvy is a wholly owned subsidiary of Karvy Computershare Private Limited (KCPL), head quartered in Hyderabad, India. KCPL is a joint venture company between Karvy Computershare Pte Ltd and Computershare Limited of Australia. Both Karvy and KCPL have combined services to over 70 million investors across 28 Mutual Funds (domestic & overseas funds) and more than 1000 corporate companies, both listed and unlisted together. Computershare Limited is an Australia headquartered global leader in share registration, employee equity plans, proxy solicitation, etc with 10,000 employees servicing 30,000 clients in 20 countries.
Karvy was incorporated in Malaysia on 8 March 2016 and commenced business on 25 April 2016. Karvy is registered as a private limited company to provide registrar and transfer agency services to asset management, investment management companies and insurance companies, with its business address at Suite 16.1, Level 16, Menara IMC, No.8 Jalan Sultan Ismail, 50250 Kuala Lumpur.
Karvy also leverages the support of its holding company, KCPL for certain processes of the abovementioned duties.