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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.
Fund Volatility
Lipper Analytics
10 Dec 2021
Launch Date
21 August 2007
Performance of PIATAF vs its Benchmark Index Over the Following Periods Ended 31/12/2021
PIATAF (%) Benchmark (%) PIATAF (%) Benchmark (%)
Total Return Annualised Return
8.03 -0.93 8.03 -0.93
71.04 41.46 19.57 12.25
80.21 50.19 12.49 8.47
169.59 128.52 10.41 8.61
172.42 129.86 10.47 8.62
*Source: Lipper, as at 31 Dec 2021
Performance of PIATAF and Benchmark Index (Since Fund Commencement* to 31/12/2021)
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 stocks to selectively capitalise on investment opportunities in the regional markets, with the balance invested in sukuk and Islamic liquid assets.
  • As at 30 November 2021, 91.3% of PIATAF’s NAV was invested in Shariah-compliant equities while 8.7% of NAV was invested in Islamic money market instruments. The Fund focused on sectors such as Technology, Communications, Industrial and Basic Materials across the North Asia and Australia markets.
  • From its commencement on 12 December 2011 to 30 November 2021, the Fund registered a total return of +169.03% to outperform its benchmark’s return of +130.22%. This outperformance was led by the Fund’s holdings of Technology and Communications stocks which benefitted from the increased digitalisation of the consumer and corporate environments.
  • For the 1-year, 3-year and 5-year periods ended 30 November 2021, the Fund also registered respective returns of +14.31%, +64.30% and +76.63% to outperform its benchmark’s respective returns of +4.55%, +37.87% and +49.24%.
  • Going forward, the Fund will look to continue focusing its investments on sectors in the regional markets that offer long-term growth prospects such as Technology and Communications, which are underpinned by our increasingly digitalised lifestyles as well as the rising adoption of 5G, electric vehicles and cloud computing.

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