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PUBLIC e-ISLAMIC FLEXI ALLOCATION FUND (PeIFAF)
Fund Objective
To achieve capital growth over the medium to long-term period through a portfolio allocation across Shariah-compliant equities and sukuk.
3-Year
Fund Volatility
14.5
high
Lipper Analytics
10 May 2023
Launch Date
03 April 2018
Performance of PeIFAF vs its Benchmark Index Over the Following Periods Ended 31/05/2023
PeIFAF (%) Benchmark (%) PeIFAF (%) Benchmark (%)
Total Return Annualised Return
-3.41 -3.75 -3.41 -3.75
14.14 -9.55 4.50 -3.28
28.76 -7.13 5.18 -1.47
- - - -
27.78 -13.06 4.92 -2.70
*Source: Lipper, as at 31 May 2023
Performance of PeIFAF and Benchmark Index (Since Fund Commencement* to 31/05/2023)
Benchmark: A composite of 70% FTSE Bursa Malaysia Hijrah Shariah Index and 30% 3-Month Islamic Interbank Money Market (IIMM) rate
* Commencement Date - 23 April 2018


  • Public e-Islamic Flexi Allocation Fund (PeIFAF or the Fund) adopts a mixed asset allocation approach whereby the Fund may invest up to 98% of its net asset value (NAV) in Shariah-compliant equities and/or sukuk; with a higher allocation to Shariah-compliant equities when seeking to capitalise on investment opportunities in the equity markets, and a higher allocation to sukuk when fixed income yields are deemed to be attractive. Additionally, up to 30% of the Fund’s NAV may be invested in foreign markets to tap into broader investment opportunities globally.
  • As at 28 April 2023, 79.9% of PeIFAF’s NAV was invested in Shariah-compliant equities while 20.1% of its NAV was invested in Islamic money market instruments. The Fund’s Shariah-compliant equity portfolio focused on sectors such as consumer, communications, industrial and technology in the domestic and foreign markets.
  • From its commencement on 23 April 2018 up to 28 April 2023, the Fund registered a total return of +27.01% to outperform its benchmark’s return of -12.73%. This outperformance was led by the Fund’s selected holdings of technology stocks in the domestic and foreign markets which benefitted from the rising adoption of e-commerce and digital products globally. On the domestic front, increased outsourcing from multinational corporations amid the ongoing U.S.-China trade tensions has also benefitted local manufacturers within the technology value chain.
  • For the 3-year period ended 28 April 2023, the Fund also registered a return of +26.67% to outperform its benchmark’s return of -2.14%.
  • Going forward, the Fund will continue to pursue investment opportunities in the technology and industrial sectors which are underpinned by the long-term structural trends of digitalisation as well as the recovery in manufacturing activities amid the re-opening of economies. The Fund will also invest in the financial and consumer sectors which stand to benefit from sustained consumer spending.


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