| Unit Trust Funds Thrive Amid Malaysia’s Market Challenges |
| Article |16 April 2024 |
| During the first quarter of 2024, resilient economic data propelled global equities, with the MSCI World rising 8.5%. Developed market equities, particularly in the US, Europe and Japan, performed strongly, while emerging market equities underperformed amid concerns over China’s growth. read more |
| Investment Insights and Strategy Series by Phillip Capital Malaysia – March 2024 |
| Article |18 March 2024 |
| The MSCI Asia Pacific Ex-Japan Index (+4.3%) slightly grazed past the MSCI World Index (+4.1%) on account of strong market performance from China & Hong Kong. China (+9.4%) & Hong Kong (+6.6%) both enjoyed an exceptionally strong month on the back of increased tangible and forceful efforts from China’s government to support the region’s ailing stock market. Japan (+7.9%) continues its dominance despite going into a technical recession, with famed investor Warren Buffett endorsing the region in his latest letter to investors. In the US, the Nasdaq (+6.1%) and S&P 500 (+5.2%) hit new highs after Nvidia’s record-breaking results. Singapore (-0.4%) was the only market to be slightly in the red for February on news of tepid GDP growth of 1.1% for the whole of 2023 (see Exhibit 1). read more |
| A Glance on “Swiftonomics”: The Impact of Tourism on A Country’s Economy |
| Article |11 March 2024 |
| The “Swiftonomics” effect refers to the economic impact generated by Taylor Swift, highlighting her ability to catalyze economic benefits for local communities through specific actions such as her world tour “The Eras Tour”. read more |
| ASEAN-ISE: Empowering Sustainable Development through Collaborative ESG Initiatives |
| Article |1 March 2024 |
| On 15th Feb 2024, four ASEAN stock exchanges namely Bursa Malaysia, the Singapore Exchange (SGX), the Stock Exchange of Thailand (SET) and the Indonesia Stock Exchange (IDX) will be jointly developing an initiative to implement common ESG (environmental, social, and governance) metrics in their respective data infrastructures and advance the region’s sustainable development, known as the ASEAN-Interconnected Sustainability Ecosystem (ASEAN-ISE). Separately, the four Participating Exchanges also agreed on a foundational governance structure and operational blueprint for building this ecosystem. We see this positively as ASEAN exchanges are collaborating for a reliable, harmonised data system, with adaptable solutions for individual market needs. read more |
| The Impact of the Fed’s Rate Cut on the Malaysian Market |
| Article |23 February 2024 |
| The Federal Open Market Committee (FOMC) meeting in January 2024 concluded with the decision to maintain the Fed funds interest rate within the range of 5.25% to 5.50%, as widely anticipated by the market consensus. Notably, the Fed funds rate has been held steadily for about eight months since the last rate hike of 25 basis point back in July 2023 (see Exhibit 1). read more |
| Investment Insights and Strategy Series by Phillip Capital Malaysia – February 2024 |
| Article |19 February 2024 |
| The MSCI Asia Pacific Ex-Japan Index (-4.8%) tumbled in January, underperforming the MSCI World Index (+1.1%) as weak performances in HK, China and South Korea dragged the former. Japan (+8.4%) had an incredible showing in January as renewed risk-on sentiment helped lift Japanese blue chips to record highs. Malaysia (+4.0%) had its best month in quite a while as strong foreign flows into blue chips breathed fresh excitement into markets pushing the index into levels unseen since Aug’22. read more |
| Navigating the Challenges of Scope 3 Emissions |
| Article |9 February 2024 |
| Asia’s strategic role in the global supply chain is underscored by its historical access to cost-effective labour, a robust manufacturing infrastructure, close proximity to major markets in Europe and North America, and supportive government policies, positioning the region as a key player in the worldwide drive towards net zero. In the pursuit of sustainable supply chains, Asia has witnessed significant progress made during the global stocktake at COP28 UAE conducted by the United Nations Climate Change. The need for intensified efforts from businesses to measure and address their carbon emissions is underscored by mounting global regulations, including the IFRS Foundation and International Sustainability Standards Board (ISSB) Standards that came into effect on January 1, 2024. read more |
| 2023 Malaysia’s ESG Wrap & and Outlook for 2024 |
| Article |5 February 2024 |
| In 2023, Malaysia experienced significant developments in the realm of ESG (environmental, social, and governance). Starting with the launch of Bursa Malaysia’s Bursa Carbon Exchange (BCX) in March and the announcement of National Energy Transition Roadmap (NETR) in July, the momentum continued with the ESG-focused Budget 2024 unveiled in October. Later that month, the Energy Efficiency and Conservation Bill was passed, underscoring the commitment to sustainable practices. A noteworthy milestone came in December 2023 when Malaysia, during COP28, pledged to achieve a 45% reduction in carbon emissions by 2030 compared to 2005 levels, reinforcing the country’s dedication to addressing climate change. read more |
| Unlocking Opportunities: The Wood Dragon Year and its Impact on Investments |
| Article |29 January 2024 |
| Chinese Astrology follows a 12-year recurring cycle, where each year is symbolised by an animal, forming the 12 zodiac signs. Interestingly, each zodiac sign is associated to one of the five main elements each year (known as ‘Wu Xing Concept’): Gold (Metal), Wood, Water, Fire, and Earth. This configuration results in a 60-year cycle referred to as the ’60 Jia Zi.’ Following a Water Rabbit year (2023), the Wood Dragon, along with other elemental Dragons, comes once every 60 years. What significance does a Wood Dragon year hold? read more |
| Investment Insights and Strategy Series by Phillip Capital Malaysia – January 2024 |
| Article |12 January 2024 |
| Global markets sustained robust momentum in December, buoyed by the moderation of US inflation data. This development fuelled market expectations for a pause in the rate hike cycle in 2024 and potentially a fresh rate cut as early as March 2024. read more |
| Farewell, 2023, and Greetings to 2024! (2.0) |
| Article |8 January 2024 |
| Building upon the article released last week, we are zooming into Five themes that investors should closely monitor in 2024. Theme 1: Peaking interest rates bode well with equities; Emerging markets (EM) stand to benefit the most Following an extended period of aggressive tightening, we anticipate the Fed’s interest rate policy normalizing in 2024, shifting to moderation before potential rate cuts. Faster-than-expected US inflation decline (Figure 1) empowers Fed to recalibrate, averting a hard landing and creating room for easing amid a potentially challenging global growth outlook. read more |
| Farewell, 2023, and Greetings to 2024! |
| Article |2 January 2024 |
| In 2023, notable events unfolded, such as the Regional Banking Crisis in March and the subsequent suspension of the US Debt Ceiling in late May/early June. In China, substantial growth challenges, particularly in the property sector, emerged, marked by Country Garden’s missed coupon payment. read more |
| ESG Gaining Momentum in Malaysia |
| Article |22 December 2023 |
| Development in ESG is ever-evolving, staying current to align with global developments. In Malaysia, from National Energy Transition Roadmap (NETR) to the Budget 2024, there is a surge of initiatives and regulations surrounding ESG. In our recent coverage, we delved into the topic of ESG Reporting for SMEs, Green Sukuk and other related topics. read more |
| Investment Insights and Strategy Series by PhillipCapital Malaysia |
| Article |18 December 2023 |
| Global markets have rebounded strongly in November with the 10-year U.S. Treasury yield stabilising around the 4.40% range after hitting 5% a month ago, reflecting a shift in market expectations towards a potential end to the Fed’s rate-hiking. read more |
| Malaysia’s Progress in Green Sukuk |
| Article |1 December 2023 |
| The Malaysian bond and sukuk market are strategically positioned to offer essential financing for productive and socially responsible projects. Malaysia has pioneered the issuance of Green SRI Sukuk since the introduction of the Sustainable & Responsible Investment (SRI) Sukuk framework in 2014. In 2017, Malaysia issued the world’s first green SRI sukuk – to finance the construction of large-scale solar photovoltaic power plants in Kudat, Sabah. Since then, Green SRI Sukuk as a funding instrument has gained widespread appeal in Malaysia. read more |
| Investing in Fixed Income Assets |
| Article |24 November 2023 |
| In November’s FOMC meeting, the Fed maintained the FFR at 5.25-5.50%. US Treasuries faced heavy losses in October, with the 10Y UST hitting 5.00% but have now retreated to 4.39% as at 22 November. The anticipation of a prolonged tight monetary policy into the next year was the main factor behind the increased yields. Robust 3Q2023 US GDP performance reinforced investors’ expectations of the sustained tight monetary policy throughout the coming year. read more |
| Malaysia’s Pioneering Role in ESG Reporting for SMEs |
| Article |20 November 2023 |
| While ESG reporting is frequently associated with listed companies, it is important to recognise the increasing awareness that ESG considerations are pertinent to businesses regardless of the sizes, including Small and Medium-sized Enterprises (SMEs). The Securities Commission (SC) of Malaysia, through its affiliate Capital Markets Malaysia (CMM), has introduced a Simplified ESG Disclosure Guide (SEDG) aimed at assisting SMEs in global supply chains with the disclosure of ESG data and information. Malaysia takes pride in being the global pioneer in implementing such a guide. read more |
| Investment Insights and Strategy Series |
| Article |10 November 2023 |
| Global markets have remained weak throughout October, dented by concerns about higher interest rate, with the 10-year U.S. Treasury yield briefly exceeding 5% after 16 years. Investors remain cautious due to concerns about the global economy and geopolitical tensions, particularly the possibility of the Israel-Hamas conflict escalating and causing supply disruptions in the broader Middle East and beyond. read more |
| Malaysia’s Flood Mitigation Revolution |
| Article |3 November 2023 |
| The continuous rain in Malaysia has become quite a regular affair lately. Just half an hour of rain and we are already talking about potential flash floods. Malaysia’s susceptibility to heavy rains, exacerbated by urbanisation and deforestation, has strained existing drainage systems, leading to rapid water accumulation and subsequent flooding. It is a serious reminder for the importance of flood mitigation projects. read more |
| Navigating Opportunities: Israel-Hamas Conflict, 2024 U.S. Recession (?), & U.S. Presidential Election |
| Article |27 October 2023 |
| Markets are playing catch-up to the new regime with the bond yields have surged to 16-year highs. The markets now believe central banks would not swiftly relax policies due to global supply challenges. They are expected to stay tightened to counter inflationary pressures. However, it is essential to consider that inflation is decreasing as pandemic-related imbalances are resolving. read more |
| ESG Efforts in Budget 2024 |
| Article |23 October 2023 |
| In Budget 2024, the Malaysian government continues its dedicated efforts towards sustainable development and energy transition, implementing a range of Environmental, Social, and Governance (ESG) initiatives. Certainly, there are numerous initiatives outlined in the Budget, but in this write-up, we only emphasise a few of them. read more |
| MALAYSIA BUDGET 2024 – A Pragmatic Budget |
| Article |16 October 2023 |
| The tabled Budget 2024 themed “Reformasi Ekonomi, Memperkasakan Rakyat” (the Budget) with 3 key focus areas 1) best governance for agile services, 2) economic restructuring for boosting growth and 3) enhancing the quality of life for the people. read more |
| Navigating Market Challenges: Opportunities Amidst Global Uncertainties |
| Article |11 October 2023 |
| Global markets remained weak throughout September, with MSCI World declining -4.6% due to challenges in the US markets, including labour union strikes and government shutdown fears. In addition to that, the market’s expectations were dashed as the Fed’s hawkish stance raised concerns about prolonged high interest rates, hence prompting the spike in bond yield and dollar strength. read more |
| Sustainable Funds Regain Momentum in 2023 |
| Article |4 October 2023 |
| In Morgan Stanley’s most recent report “Sustainable Reality”, it is highlighted that during the first half of 2023, sustainable funds returned to their historical trend of surpassing traditional funds in performance after some underperformance in 2022 (see Figure 1). Specifically, sustainable funds recorded a robust growth of 6.9%, while traditional funds lagged behind at 3.8%. read more |
| Malaysia Market Update Post State Election |
| Article |25 September 2023 |
| Malaysia’s equity market has shown increased resilience following the state election. Foreign investors were net buying Malaysia equities, with net inflows of RM1.4bn in July, RM140.8mn in August and RM270.3mn as of September 18, 2023 MTD. As of September 19, 2023, the FBMKLCI has recorded a 1.18% gain since August 14, 2023, which was shortly after the state election. read more |
| NETR Launch – Steps towards Sustainable Green Economy (Part 2) |
| Article |18 September 2023 |
| In our previous article, we discussed the first stage of the National Energy Transition Roadmap (NETR), which the government introduced on July 27, 2023. The unveiling of the second phase on August 29, 2023, marked a significant step forward in Malaysia’s journey towards a low-carbon future. Both two phases are viewed as Malaysia’s commitment to transitioning towards cleaner energy, and have the potential to catalyse the development of technical expertise and the generation of employment opportunities within Malaysia’s burgeoning green economy. read more |
| Charting Malaysia’s Future: NIMP 2030 – A Blueprint for Resilient Industrial Transformation and Sustainable Growth |
| Article |8 September 2023 |
| On September 1st, Prime Minister Anwar Ibrahim introduced the New Industrial Master Plan 2030 (NIMP 2030), an industrial policy for the manufacturing and manufacturing-related services sectors spanning seven years until 2030, focusing on 6 high-impact sectors, namely aerospace, chemicals, electrical & electronics, electric vehicles, pharmaceuticals, and advanced materials. The masterplan aims to generate a substantial impact on Malaysia’s economy, with projected contributions of RM587.5 billion to the total GDP by 2030, representing a remarkable growth of 61% compared to 2022. read more |
| Strategic Positioning for ESG-Conscious Investors |
| Article |4 September 2023 |
| When investors are interested in ESG-themed (Environmental, Social, and Governance) investments, there are several sectors they can consider for their investments. These sectors have gained attention due to their strong alignment with ESG principles and the potential for both financial returns and positive impact. read more |
| ESG: Catalyst for Enhanced Valuations and Profitability |
| Article |28 August 2023 |
| ESG isn’t just about sustainability – it’s a catalyst for better valuations and profitability. Companies embracing ESG principles are commanding higher returns, managing risks, innovating for efficiency, and building strong reputations. |
| What’s next for China & Malaysia |
| Article |11 August 2023 |
| With Country Garden missing recent debt payments, investors have raised concerns about the recovery in the housing market and the broader economy. Not only that, July saw a widespread weakening of data in various sectors, which can be attributed to the slow revival of domestic consumption, the property downturn, and persistent challenges from the global economic environment. The growth rate of retail sales and industrial production decelerated in July, even as traditional offline services were gradually resuming normal operations. Despite recent efforts to relax policies, the property market downturn persisted, leading to reduced demand for loans. |
| ESG: Catalyst for Enhanced Valuations and Profitability |
| Article |28 August 2023 |
| ESG isn’t just about sustainability – it’s a catalyst for better valuations and profitability. Companies embracing ESG principles are commanding higher returns, managing risks, innovating for efficiency, and building strong reputations. |
| What’s next for China & Malaysia |
| Article |11 August 2023 |
| With Country Garden missing recent debt payments, investors have raised concerns about the recovery in the housing market and the broader economy. Not only that, July saw a widespread weakening of data in various sectors, which can be attributed to the slow revival of domestic consumption, the property downturn, and persistent challenges from the global economic environment. The growth rate of retail sales and industrial production decelerated in July, even as traditional offline services were gradually resuming normal operations. Despite recent efforts to relax policies, the property market downturn persisted, leading to reduced demand for loans. |
| NETR Launch – Steps towards Sustainable Green Economy |
| Article |11 August 2023 |
| The government has recently introduced the first phase of the National Energy Transition Roadmap (NETR). This roadmap outlines the strategy to expedite the nation’s shift from a conventional fossil fuel-driven economy to a more sustainable green economy. The plan encompasses 10 flagship catalyst projects and 6 key energy transition drivers, namely energy efficiency, renewable energy, hydrogen, bioenergy, green mobility, and carbon capture, utilisation, and storage (CCUS). Collectively, the successful implementation of the plan would have the potential to generate significant investment opportunities for energy transition, ranging from RM435 billion to RM1.85 trillion by the year 2050. According to source, Part 2 of the NETR will be unveiled in August, with a focus on establishing the low-carbon pathway, national energy mix, targets for emission reduction, and the steps required for energy transition. |
| Global Central Bank Actions and Asian Market Resilience: July 2023 Recap |
| Article |4 August 2023 |
| The Fed raised the Fed funds rate (FFR) by 25bps to 5.25%-5.50% in July’s FOMC meeting. However, Fed Chair Powell did not give a clear indication that the additional rate hike projected in the June median dot plot would be delivered. He stressed that any future rate decisions would depend on the data received before the September meeting. This data includes two CPI reports, two labour market reports, the Q2 Employment Cost Index (ECI), and core PCE inflation. While investors are divided on the outlook ahead, we anticipate that we are approaching the end of the rate hike cycle and that a pause is likely imminent. |
| The Rising EV Trend in Malaysia |
| Article |31 July 2023 |
| Malaysia is dedicated to reinforcing its commitment towards achieving net-zero carbon emissions by as early as 2050. The country possesses a well-defined plan and a comprehensive ecosystem, along with abundant competitive resources, to bolster the clean energy industry, particularly in supporting the growth of electric mobility. Tesla has recently made its official entry into the Malaysian market, spearheaded by the introduction of the Tesla Model Y. |
| Malaysia – Look for Silver Linings |
| Article |21 July 2023 |
| In 2023, the stock market has been dominated by a select group of mega-cap US tech companies, commonly referred to as the “magnificent 7.” These companies include Apple, Microsoft, Alphabet, Amazon, Nvidia, Tesla, and Meta (formerly known as Facebook). Their strong performance has left little room for other markets to outshine the US market. In our local market, the FBM KLCI index has experienced a decline of 5.94% year-to-date when measured in local currency terms and nearly 9% in USD terms. |
| De-dollarization, is it Happening? |
| Article |21 July 2023 |
| About 60% of global central banks have their reserves in USD, many commodities are traded in USD and close to 70% of all financial transactions are in USD. As such, there is no indication USD will lose its dominant position any time soon but we do see its position deteriorating gradually. |
| Breaking the Cycle of Emotional Investing: Strategies for Better Decisions |
| Article |20 July 2023 |
| Emotions play a significant role in our decision-making processes, and when it comes to investing, they can have a profound impact on our ability to make rational choices. Emotions such as fear, greed, and overconfidence can cloud rational judgment and lead to irrational investment decision-making. In stocks market for instance, one of the most common emotional responses that affect investment decisions is the fear of missing out (FOMO), which can cause individuals to buy high and sell low. |
| The Influence of ESG Factors on Consumer Behaviour and Brand Perception |
| Article |7 July 2023 |
| Consumer attitudes have undergone a noticeable transformation in recent years, as an increasing number of individuals actively prioritise sustainable and socially responsible products and services. This shift signifies a growing recognition among consumers of their ability to effect positive change through their purchasing decisions. Interestingly, this trend has become even more pronounced during the pandemic, as people have developed a heightened sensitivity towards the environmental consequences of their shopping choices. Consequently, companies are stepping up to meet these evolving consumer demands. |
| Navigating Global Economic Landscape and Uncovering Opportunities in 2H2023 and Beyond |
| Article |3 July 2023 |
| As widely expected, the Fed paused its hiking campaign in June, However, according to the Fed’s Dot Plot projections, the interest rates may potentially reach as high as 5.6% before the conclusion of 2023. The Fed members have revised their outlook for economic growth, with the Summary of Economic Projections now indicating a projected GDP gain of 1%, an increase from the previous estimate of 0.4% in March. Furthermore, officials have become more optimistic regarding unemployment, anticipating a year-end unemployment rate of 4.1% as opposed to the 4.5% forecasted in March. |
| When EV meets ESG |
| Article |26 June 2023 |
| In recent years, the world has witnessed a growing emphasis on sustainable practices across various industries. One notable area experiencing this paradigm shift is the automotive industry, which is rapidly transitioning to an electric vehicle (EV) future, with increasing integration of Environmental, Social, and Governance (ESG) principles. This transition carries significant implications for vehicle assemblers, component manufacturers, extractive industries-and responsible investors. |
| A review of Malaysia’s market and strategies for investors to navigate during challenging times |
| Article |16 June 2023 |
| During times of weak market conditions, investors encounter challenges in remaining invested. Taking Malaysia market as example, the FBM KLCI Index experienced a decline of 2.0% in May and 7.2% year-to-date (YTD), underperforming many other markets and most ASEAN peers except Thailand. |
| Embracing Social Responsibility for Sustainable Growth |
| Article |9 June 2023 |
| In today’s rapidly evolving business landscape, companies are increasingly recognising the importance of Environmental, Social and Governance (ESG). This involves fostering a corporate culture that places emphasis on certain elements within the “Social” pillar of ESG, including Health and Safety, Labour Standards, Employee Benefits as well as Diversity and Inclusion. |
| Navigating Global Markets: Debt Ceiling Concerns, China’s Recovery, and Investment Opportunities |
| Article |2 June 2023 |
| Global markets traded mixed in May as investors watched for signs of progress in the US debt ceiling negotiations ahead of the June 1 deadline. To recall, the debt ceiling has been raised nearly 80 times since 1960, indicating that it is not something new and it is just a recurring practice to adjust the limit on the amount of debt the US government can incur (see Figure 1). |
| ESG Investing in The Era of Chaos |
| Article |26 May 2023 |
| According to Morningstar Direct’s “Q1 2023 Review on Global Sustainable Fund Flows”, global sustainable funds attracted USD 29 billion of net inflow in the first quarter of 2023, down from nearly USD 38 billion in the previous quarter. |
| Malaysia’s Progress Towards Carbon Neutrality |
| Article |19 May 2023 |
| According to a recent report by MSCI Inc., the percentage of public companies disclosing Scope 3 emissions has risen to 35%, a 5% increase since October last year. Additionally, almost half of these companies (44%) have established decarbonisation targets, which is 8% higher compared to last year’s figures. We have seen the number of global public companies making climate commitments has steadily grown this year. |
| Regular Savings Plan (“RSP”) A Steady Hand for Your Financial Future |
| Article |19 May 2023 |
| A Regular Savings Plan (“RSP”) is the key to build long-term wealth. By investing a fixed amount of money on a regular basis, RSP takes advantage of dollar-cost averaging and compound interest to maintain a disciplined, long-term outlook. |
| The Resilience of Asia |
| Article |8 May 2023 |
| Although the world economy is expected to face a challenging year with global growth decelerating and inflation remaining high and the ongoing war in Ukraine, and banking strains in the US and Europe adding to the complexity, the Asia-Pacific region continues to display dynamism and resilience. |
| An Overview of Fixed Income Outlook in 2023 |
| Article |18 April 2023 |
| Fixed income markets experienced a sharp selloff in 2022, but this has led to improved yields and valuations. As attention shifts from inflation to slowing growth and the potential for a recession, fixed income’s defensive nature may attract more investors. |
| Examining the Commodities Market: Risk and Opportunities |
| Article |10 April 2023 |
| The recent upheaval in the global banking industry has triggered a new black swan to global growth outlook. As a result, the International Monetary Fund (IMF) has lowered its previous projections for worldwide GDP growth, with estimates now at +2.8% for 2023 and +3% for 2024, down from +2.9% and +3.1% respectively. |
| Printing of Money by Governments |
| Article |10 April 2023 |
| The Ministry of Finance said it has no intention to use debt monetisation or the method of selling government bonds to Bank Negara Malaysia (BNM) directly as a financing strategy. Nevertheless, BNM has mop up more government bonds, from 1% of total government bond issuance to over 6%. |
| Understanding Quality Investing and Why It Matters? |
| Article |7 April 2023 |
| What is Quality Investing? Investors who advocate a quality approach to investing prefer high-quality companies that generate free cash flow and a reasonable return on equity. Aside from that, investors consider other aspects of the business such as management stability, the uniqueness of the business model, and product reliability. While we previously discussed various investment styles such as Value, Growth, Dividend, ESG, Size, Momentum and Quality, this article will specifically focus on Quality Investing. |
| Large Cap vs. Small Cap: Understanding the Differences and When Size Matters |
| Article |31 March 2023 |
| Large-cap stocks are stocks of established, well-known companies with high market capitalisation. These companies have a proven business model, a stable earnings outlook, and a long operating history. They typically have a more extensive trading volume and a significant institutional investor base due to their established reputation, which results in a more stable price performance. |
| Q & A Outlook for January 2023 |
| Article |3 January 2023 |
| 2023 is the year of Water Rabbit and is predicted to be a year of hope. Hence, will the Water Rabbit bring us what we lacked in 2022, which is peace and success, as we navigate through the looming global recession? |
| Yinson Holdings Bhd (“Yinson”) – “An Ever Transitioning Energy Behemoth” |
| Article |9 December 2022 |
| The recently secured FPSOs with higher charter rates due to tight FPSO market is slated to elevate Yinson earnings moving forward. FPSO Agogo is just one step away from official award as it received upfront prelim capex funding from its client. We recommend Yinson a BUY ON WEAKNESS for its ability in generating recurring, long-term income stream. Currently trading at FY24 PE of 10.6x vs. its 5-yr average PE of 20.1x, we deem it attractive to participate in a recurring, exciting growth business. |
| BuyOn Intrinc Value |
| Article |6 December 2022 |
| Many blue chips across most exchanges saw their share prices fallen sharply over the past one year. Recent market recovery resulted in sharp percentage recovery of some share prices but they are still far away from previous high. When the dust settles, these quality shares will reward investors with strong capital gain eventually |
| Anwar-Led Unity Government |
| Article |24 November 2022 |
| For the first time in Malaysian history, no coalition obtained enough seats to form a government with a simple majority after GE15. Subsequently, a unity government is established, led by Dato’ Seri Anwar Ibrahim, who is declared to be the 10th Prime Minister of Malaysia. How will this new political landscape affect the Malaysian market? |
| Financial Piranhas Prey on Currencies |
| Article |30 September 2022 |
| Following the aggressive hike in US interest rates, currency traders have been selling non-US currencies intensively, especially those that are slow in increasing interest rates. In 2017, the USD subsequently dipped for a year even when the Fed was still raising the fed funds rates.. Will USD retreat while the Fed continues its rates hike until next year to tame the inflation? |
| US Administering Financial Chemotherapy to Fight Inflation |
| Article |9 November 2022 |
| Inflation is an economic disease and it is affecting every facet of the American life. To tame the current raging inflation, the US has administered its usual financial chemotherapy i.e. to raise interest rate in order to slow down demand but in the process causing a general weakness to the economy. The present aggressive hike in interest rates will eventually bring the US economy to its knee and in the process even cause a recession. |
| Financial Piranhas Prey on Currencies |
| Article |30 September 2022 |
| Following the aggressive hike in US interest rates, currency traders have been selling non-US currencies intensively, especially those that are slow in increasing interest rates. In 2017, the USD subsequently dipped for a year even when the Fed was still raising the fed funds rates.. Will USD retreat while the Fed continues its rates hike until next year to tame the inflation? |
| Surviving Stock Market Warfare |
| Article |17 August 2022 |
| We are facing stock market warfare every day and fighting the bull and bear at every level. The war between the bull and bear in the stock market continues as they digest various economic information, corporate news and political development. One thing for sure, after a bear, there comes a bull. |
| Investors Rush to Buy Gold on Dip, What about Shares? |
| Article |08 July 2022 |
| Investors tend to rush in to buy gold whenever the price fall. Investors seem to be rational when making decision on buying gold. The same does not seem to happen to share investment. When the market falls, there are opportunities for long term investors with holding power to pick up quality shares that are sold down under the pressure of weak market sentiment. |
| USD Up, All Currencies Down |
| Article |11 May 2022 |
| The rate hike in the US resulted in stronger USD and weaker ringgit, which has depreciated by 4.6% against the USD at end-Apr 2022. The higher US Treasury yield has resulted in lower yield spread vis-à-vis Malaysian bond. As a result, foreign funds have started to exit our bond market lately; however, they seem to remain comfortable with our equities market. |
| US Reveals its Financial Weapon |
| Article |15 April 2022 |
| The main reason why the world is able to continue to grow at low inflation rate for the past 30 years is due to the benefit of globalisation where each country specialises on goods and services, which they are more competitive at and delivering them at the cheapest price. The regular impositions of sanction by US on unfriendly countries and excluding a country from the SWIFT (Society for Worldwide Interbank Financial Telecommunication) financial settlement system such as on Russia recently may have forced many countries to review their reliance on other foreign countries for the provision of strategic goods and services. |
| Russian-Ukraine War |
| Article |15 March 2022 |
| As we enter into year 2022, we know we are facing a highly infectious yet less fatal Omicron variant and higher inflation led by rising commodity prices, which are in part due to delivery disruption. The higher-than-expected inflation has caused the Federal Reserve to hasten its interest rate hikes in the US. Now we are facing another uncertainty i.e. the Russian-Ukraine war, which has fuelled to the already escalating global inflation as Russia is a major commodity producer and exporter especially crude oil and gas. |
| AmInvestment: Russia Invasion of Ukraine – Event Update |
| Article |28 February 2022 |
| On 24th February, Russian President Vladimir Putin announced a military operation in Ukraine to defend separatists in the Donbas region. Russia called on Ukrainian soldiers to lay down their arms and justified the invasion by claiming a “genocide” in east Ukraine. In response, US President Biden warned of “consequences” for Russia and said the world would “hold Russia accountable” for its actions. NATO’s chief has also condemned Russia’s “reckless and unprovoked attack” on Ukraine. |
| The Russia-Ukraine Conflict – What to Expect? |
| Article |25 February 2022 |
| Russia has officially declared war against Ukraine (Fig 2) amid its decision to join NATO which was aimed to counteract the threat of post-war Russian expansion in Europe. The launch of military invasion includes missiles, tanks, artillery and jets. |
| Goodbye 2021 but Not to Covid-19 |
| Article |23 December 2021 |
| While we are getting ready to bid farewell to the year 2021 but we cannot say goodbye to Covid-19 yet especially with the emergence of the highly infectious new Omicron variant in November. We have been expecting life and businesses to revert to new normal soon with more economies opening up. The expected strong recovery of the global economy has to scale back a little with rising infection from the new and highly contagious virus. This is an additional challenge on top of the other challenges such as rising inflation, high commodity prices, disruption in global shipping, US QE tapering, rising interest rates, confrontation between US and China, political transition and imminent general election domestically. The challenges sound extensive but we have experienced numerous market uncertainties in the past too. |
| Accept Covid-19 as Part of Our Ecosystem |
| Article |25 October 2021 |
| As more people are vaccinated and protected against the Covid-19, many governments have decided to open up their economies and allow life to go back to normal gradually. A third vaccination is being planned to further protect the people against Covid-19, which is becoming part of our ecosystem, whether we like it or not. As for investment, we are confronted with the risks and all investment products that offer higher returns have risks. We have to understand the risks like the way we understand the virus. Every step we take, be it in the daily life in the midst of Covid-19 epidemic or the attempt to secure higher return than the near-zero banks fixed-deposit rates, there is calculated risk. To protect ourselves, we need to understand what and where are the risks. |
| Apex: Fund Managers’ View |
| Article |03 August 2021 |
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| Apex: Fund Managers’ View |
| Article |28 July 2021 |
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| Apex: Fund Managers’ View |
| Article |21 July 2021 |
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| Apex: Fund Managers’ View |
| Article |13 July 2021 |
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| Apex: Fund Managers’ View |
| Article |06 July 2021 |
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| Apex: Fund Managers’ View |
| Article |28 June 2021 |
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| Apex: Fund Managers’ View |
| Article |08 June 2021 |
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| Apex: Fund Managers’ View |
| Article |01 June 2021 |
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| Apex: Fund Managers’ View |
| Article |25 May 2021 |
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| Apex: Fund Managers’ View |
| Article |18 May 2021 |
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| Apex: Fund Managers’ View |
| Article |11 May 2021 |
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| Apex: Fund Managers’ View |
| Article |04 May 2021 |
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| Apex: Fund Managers’ View |
| Article |27 April 2021 |
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| Apex: Fund Managers’ View |
| Article |20 April 2021 |
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| Apex: Fund Managers’ View |
| Article |13 April 2021 |
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| Apex: Fund Managers’ View |
| Article |30 March 2021 |
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| Apex: Fund Managers’ View |
| Article |15 March 2021 |
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| Apex: Fund Managers’ View |
| Article |9 March 2021 |
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| Apex: Fund Managers’ View |
| Article |2 March 2021 |
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| Apex: Fund Managers’ View |
| Article |23 February 2021 |
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| Apex: Fund Managers’ View |
| Article |16 February 2021 |
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| Apex: Fund Managers’ View |
| Article |09 February 2021 |
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| Apex: Fund Managers’ View |
| Article |02 February 2021 |
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| Apex: Fund Managers’ View |
| Article |26 January 2021 |
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| Apex: Fund Managers’ View |
| Article |19 January 2021 |
| The KLCI closed at 1,605 @ 19.01.20, down -1.6% M-o-M . Lastweek, Technology (+8.9%) and Healthcare (+7.2%) were the best performing sectors while Utilities (-2.6%) and Oil & Gas (-1.1%) were the worst performing sectors. YTD @14.01.2020, the KLCI has increased marginally by 0.5%. |
| Apex: Fund Managers’ View |
| Article |12 January 2021 |
| The KLCI closed at 1,612 @ 12.01.20, down -0.8% M-o-M. Lastweek, Healthcare (+6.1%) were the best performing sectors while Construction (-7.6%) and REITs (-4.7%) were the worst performing sectors. YTD @ 12.01.2020, the KLCI has increased by 0.4%. |
| Apex: Fund Managers’ View |
| Article |20 October 2020 |
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| Apex: Fund Managers’ View |
| Article |6 October 2020 |
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| Kenanga: Investing in Local Tech |
| Article |2 September 2020 |
| The local technology sector has been one of the biggest winners on the local bourse since it plummeted in March, thanks to the Covid-19 pandemic. While the Bursa Malaysia Technology Index saw a dip then, it has since recovered to hit a 16-year high on Aug 11, outperforming the FBM KLCI.
This interest in the tech sector follows close on the heels of the global rally in tech stocks. Investors are betting on the accelerated digitalisation trend triggered by the pandemic, which has restricted movement and thus increased the popularity of digital services. |
| Apex: Fund Managers’ View |
| Article |1 September 2020 |
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| Apex: Fund Managers’ View |
| Article |25 August 2020 |
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| Apex: Fund Managers’ View |
| Article |18 August 2020 |
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| Apex: Fund Managers’ View |
| Article |11 August 2020 |
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| Apex: Fund Managers’ View |
| Article |28 July 2020 |
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| Apex: Fund Managers’ View |
| Article |14 July 2020 |
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| Apex: Fund Managers’ View |
| Article |8 July 2020 |
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| Apex: Fund Managers’ View |
| Article |30 June 2020 |
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| Fund Update: Affin Hwang World Series – Global Income Fund |
| Article |28 May 2020 |
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Affin Hwang World Series – Global Income Fund (“AHWS-GIF”) provides investors with regular income through investments in global fixed income instruments that produce an attractive level of income while maintaining a relatively low risk profile, with a secondary goal of capital appreciation. AHWS – GIF invests in to the PIMCO GIS Income Fund. |
| Maybank Bluewaterz Total Return Fund |
| Article |28 May 2020 |
| How did the Maybank Bluewaterz Total Bond Fund (BWZ) perform recently? |
| JomSembangwith MAMG: LIVE! |
| Article |28 May 2020 |
| If you missed the Zoom Webinar, here are some of the questions from our session on 20thMay 2020 for your reference. |
| MAYBANK GREATER CHINA ASEAN EQUITY-I FUND (MGCAEI) |
| Article |22 May 2020 |
| In April, markets had seen quite a strong and rapid rebound. However, the recovery may not be sustainable as the Covid-19 risk is still around and there could be a second of wave profit taking as investors began to assess weak corporate earnings and economic data. Furthermore, the lower oil prices as well as the US-China “blame game” could add more uncertainties into the already fragile markets. However, having said that, we do not expect any sell-off to be as bad as it was in March given the support and measures provided by governments and central banks globally. |
| 2020 PHEIM’s Market Strategy |
| Article |22 May 2020 |
| “Pheim has a strong presence in Asian having successfully emerged from various crises that had plagued the region in past. What were the strategies that worked then and will it still work in this age of widespread misinformation and prevalence of technology?” |
| Will Outperformance Continue? |
| Video |22 May 2020 |
| In case you missed it, do click on the link below to watch the Jom Sembang with MAMG: LIVE! |
| Time to Watch TV (Trump Volatility) |
| Article |21 May 2020 |
| The world is now focusing on the recovery of the economy as more and more countries are gradually lifting the lockdowns. Chart 1 clearly shows that when the lockdown was lifted in China, its PMI, which is an indicator of economic activities also improved. With presidential election in November and less than 6 months for campaign, President Donald Trump has shifted his focus from combating COVID-19 to re-election, re-igniting trade war with China to gain support. |
| Will Outperformance Continue? |
| Article |21 May 2020 |
| In the past month, the world witnessed a historic fall in global stock markets as countries are battling to curb the spreading of Covid-19 pandemic. Besides the tragic human impact, the implication of such unknown pandemic runs deeply into economic growth. The lockdown imposed has put an abrupt end to the longest economic expansion in US and expected to push the world economy into deepest downturn since the Great Depression of the 1930s. |
| Maybank Greater China ASEAN Equity-i Fund (MGCAEI) |
| Article |21 May 2020 |
| In April, markets had seen quite a strong and rapid rebound. However, the recovery may not be sustainable as the Covid-19 risk is still around and there could be a second of wave profit taking as investors began to assess weak corporate earnings and economic data. Furthermore, the lower oil prices as well as the US-China “blame game” could add more uncertainties into the already fragile markets. However, having said that, we do not expect any sell-off to be as bad as it was in March given the support and measures provided by governments and central banks globally. |
| 2020 PHEIM’s Market Strategy |
| Article |08 May 2020 |
| Value is in the eye of beholder. Share price depends on investors’ reactions. Whether the shares will perform sooner or later will depend on how accurate is one’s assessment. With the sharp market correction in the second half of February 2020 to the later part of March, year to date, equity unit trust investors are seeing negative returns. Your return depends on your judgement to buy at low prices. read more |
| Jom Sembang with MAMG: Episode 2 |
| Video |08 May 2020 |
| Are we expecting another sell down? Mr. Ahmad Najib Nazlan (Jon), our CEO for Maybank Asset Management Malaysia talks about the possibilities of a 2nd wave in the financial markets with our regional fund managers. Check out the video in the link below: Watch Video |
| China: Into a Legend Part 3 – In -37 world of Crude Oil Treasure |
| Article | 27 Apr 2020 |
| The week started with an epic oil crash on Monday (20 April), when the May West Texas Intermediate (WTI) futures contract hit as low as US$40.32/barrel (Chart 1), one day before the contract expired on Tuesday. As the dust settled and the May WTI futures contract price recovered, read more |
| China: Into a Legend Part 2 |
| Article | 21 Apr 2020 |
| China will be the new legend after COVID-19. Although we are currently not over-optimistic on global economic recovery, we believe China will lead the world in both global economic and market growth post COVID-19. On 17 April, China announced that its 1Q20 GDP fell 6.8% YoY, slightly lower than consensus (Table 1). |
| Maybank Asset Management: 2Q2020 Outlook & Strategy (MY) |
| Article | 8 Apr 2020 |
| In January, Asian equity markets began the year on a positive note in anticipation of the signing of the ‘phase 1’ US-China trade deal. |
| Maybank Asset Management: 2Q2020 Outlook & Strategy (SG) |
| Article | 8 Apr 2020 |
| The first quarter of 2020 proved to be a dismal and challenging quarter for the financial markets. After a challenging 2019, mainly due to the concerns surrounding the deterioration of global economic growth as the US-China trade war continued to escalate throughout the year, many were expecting some degree of recovery. Unfortunately, things took a turn for the worse as 2020 prove to be unprecedentedly challenging. |
| Affin Hwang Capital Asset Management: A Brief On Global & Local Markets, Investment Strategy |
| Article | 6 Apr 2020 |
| Global equity gauges endured a rather choppy week as the number of Covid-19 cases continue to rise globally as Markets weigh the economic toll of the pandemic. The S&P 500 declined by 2.1% over the week; where as in the region, the Hong Kong Hang Seng and broader MSCI Asia ex-Japan index slipped by 1.1% and 1.4% respectively. |
| China: Into A Legend |
| Article | 1 Apr 2020 |
| China will be the new legend after COVID-19 because we believe it will lead the world in both global economic and market recovery.
Although WHO recently declared COVID-19 which is caused by SARS-Cov-2 virus as pandemic on 11 March 2020, we still believe that China will be the first to recover as seen in the rebound of its March official manufacturing and non-manufacturing Purchasing Managers’ Index (PMI) of 52.0 and 52.3 respectively. |
| Covid-19 and Malaysia Banking Industry |
| Article | 1 Apr 2020 |
| The spread of the highly contagious Covid-19 has sent financial markets into a tailspin and thus creating fears of a global recession. The impact of the virus has now extended beyond China and to the rest of the World. Globally, the number of Covid-19 cases has surpassed 700,000 with more than 34,000 deaths. read more |
| The Collapse of Crude Oil Prices and Its Implications to Malaysia Oil and Gas Industry |
| Article | 1 Apr 2020 |
| Figure 1 shows the global demand and supply for Oil and Gas (O&G) from 1993 to 2019. For the past 20 over years, the spread between demand and supply has been very consistent. However, things will be different for year 2020 due to COVID-19 virus which dampen the demand and the oil war between Saudi Arabia and Russia which disrupt the supply chain and this will lead to a major disparity in the demand and supply for O&G. read more |
| COVID-19: The Black Swan of the Century |
| Article | 30 Mar 2020 |
| The COVID-19 pandemic has turned the world upside down. While things in China are already turning the other direction, the rest of the world is experiencing what China had two months ago. Widespread containment measures have disrupted economies around the world, creating fears of a global recession. read more |
| Special Investment Commentary Covid-19 |
| Article | 25 Mar 2020 |
| As a result of the global Covid-19 pandemic outbreak, markets around the world have declined sharply in a rapid and unprecedented movement. In reaction, we have seen loose monetary policy and stimulus measures announced by central banks, aiming to limit the economic impact of the pandemic outbreak. read more |
| RHB Asian Income Fund Update |
| Article | 25 Mar 2020 |
| Equities were the main detractor from performance (-16%), as concerns over the outbreak weighed on markets and sentiment. While typically stocks with growth exposure would suffer more in normal market sell-off, some of these names have actually outperformed this time especially those in China and for the internet sector. read more |
| Merry Brexmas and Happy Investing |
| Article | 13 Dec 2019 |
| Merry Brexmas! With Conservatives becomes be the largest party in the House of Commons with an outright majority, this would mean a safer passage of the Withdrawal Agreement Bill (WAB) through parliament and also being able to counter some of the likely amendments that may be proposed to be added to the WAB, by those keen to hold the PM to account on his Brexit policy, and indeed potentially for the government to pass amendments that guarantee in law no extension to the transition period read more |
| PMB_Hitech, 2020 Gold Medalist |
| Article | 25 Nov 2019 |
| Historically, Olympic Games have been a platform for a number of technological innovations which drove economy growth and equity performance of technology sector. 1960 Rome Olympics pioneered live broadcasting, 1964 Tokyo Olympics saw the debut of live satellite broadcast and 2012 London Olympics marked the point where smartphones became a mainstream live viewing platform. read more |
| MALAYSIA BUDGET 2020 – Bracing through the Storm in an Equitable Manner |
| Article | 14 Oct 2019 |
| The tabled Budget 2020 themed “Driving Growth and Equitable Outcomes towards Shared Prosperity” is very much centred on the Government’s Shared Prosperity Vision 2030 (SPV 2030) blueprint launched earlier to boost the country’s economic development. read more |
| Oil Inferno: Short-term Shock? |
| Article | 17 Sept 2019 |
| The oil production facilities in Saudi Arabia were attacked by drones and missiles on 14 September 2019, Brent crude oil price increased by 11.3% to USD67/bbl on Monday (16 September 2019), the largest single-day rally in more than a decade. read more |
| Trump Loves Properties, Do You? |
| Article | 27 Aug 2019 |
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| Trump, the Santa Claus |
| Article | 14 Aug 2019 |
| U.S headline Consumer Price Index (CPI) rose 0.3 percent in July, firmer than the average increase of 0.1 percent in the prior 12 months but in line with the consensus estimate.
However, prices of computers and smart-home assistant devices provided a surprise with increase of 2.8% MoM. This jump was the largest since this category was broken out in 2005 and may due to US-China trade uncertainty. |
| Noises or Ultimatum? |
| Article | 07 Aug 2019 |
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| MALAYSIA BUDGET 2019 – Restoring the Malaysian Economy as an Asian Tiger |
| Article | 05 Nov 2018 |
| Budget 2019 themed “A Resurgent Malaysia, A Dynamic Economy, A Prosperous Society” was tabled by the Finance Minister on 2 November 2018 and generally it is within expectations. In fact, we were expecting a broadly punitive budget as both the Prime Minister and Finance Minister alluded a budget with more taxes and “…expect some pain and even offer some sacrifice” during the Malaysia: A New Dawn Investors’ Conference, a month ago. read more |
| Trade War : Who cares |
| Article | 12 Mar 2018 |
| US decided to imposed tariffs of 25% and 10% on selected steel and aluminium imports, respectively. Importantly, Canada and Mexico were excluded. This is notable as 23.7% of steel imports and 41.5% of aluminium imports come from Canada and Mexico. The tariffs will take effect in about 15 days. Trump administration’s strategies are likely (1) a midterm election strategy, (2) a trade negotiation ploy, and (3) a way to reduce the US trade deficit (reduce imports and increase domestic production). read more |
| 2018 TheEdge – Thomson Reuters Lipper Fund Awards |
| Article | 5 Apr 2018 |
| Over the years, Phillip Mutual Berhad has offered award winning funds, through our business partners, on our funds platform. This year is no different as our business partners have won 47 from 71 individual awards and 4 from 7 group awards in the 2018 TheEdge – Thomson Reuters Lipper Fund Awards.read more |