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PUBLIC ISLAMIC ASIA TACTICAL ALLOCATION FUND (PIATAF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments in domestic and regional markets that complies with Shariah requirements.
3-Year
Fund Volatility
19.0
very high
Lipper Analytics
10 Mar 2024
Launch Date
21 August 2007
Performance of PIATAF vs its Benchmark Index Over the Following Periods Ended 29/03/2024
PIATAF (%) Benchmark (%) PIATAF (%) Benchmark (%)
Total Return Annualised Return
21.68 3.33 21.68 3.33
-2.24 -12.69 -0.75 -4.43
55.93 21.66 9.28 3.99
114.48 72.99 7.93 5.63
161.79 110.05 8.13 6.21
*Source: Lipper, as at 29 Mar 2024
Performance of PIATAF and Benchmark Index (Since Fund Commencement* to 29/03/2024)
Benchmark: A composite of 70% S&P Shariah BMI Asia Ex-Japan Index and 30% 3-month Islamic Interbank Money Market (IIMM) rate
* Commencement Date - 09 December 2011


  • Public Islamic Asia Tactical Allocation Fund (PIATAF or the Fund) adopts a mixed asset allocation approach whereby 30% to 98% of the Fund’s net asset value (NAV) may be invested in Shariah-compliant equities in the regional markets, with the balance invested in sukuk and Islamic money market instruments.
  • As at 29 March 2024, 92.9% of PIATAF’s NAV was invested in Shariah-compliant equities while 7.1% of its NAV was invested in Islamic money market instruments. The Fund focused on the technology, industrial, communications, basic materials and consumer sectors across the North Asian markets.
  • From its commencement on 12 December 2011 to 29 March 2024, the Fund registered a total return of +161.79% to outperform its benchmark’s return of +110.05%. This outperformance was led by the Fund’s selected holdings of technology and industrial stocks which benefitted from the increased digitalisation of the consumer and corporate environments.
  • For the 5-year and 10-year periods ended 29 March 2024, the Fund also registered respective returns of +55.93% and +114.48% to outperform its benchmark’s respective returns of +21.66% and +72.99%.
  • Going forward, the Fund will continue to focus on sectors in the regional markets that offer long-term growth prospects such as technology and industrial, which are underpinned by the structural digitalisation trends as well as the proliferation of 5G, electric vehicles and artificial intelligence.


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