Shariah equity in Southeast Asia's fastest-growing economies
To achieve long-term capital appreciation through a Shariah-compliant portfolio of equities in ASEAN markets, focusing on companies benefiting from the region's strong economic growth and young demographics.
Targets the dynamic economies of Malaysia, Indonesia, Thailand, Singapore, Philippines and Vietnam.
Focuses on identifying undervalued ASEAN companies with strong fundamentals and growth potential.
Fully screened portfolio, making it suitable for Muslim investors and those seeking ethical investments.
Spreads risk across multiple ASEAN countries, currencies and sectors.
Appropriate for investors seeking Shariah-compliant access to ASEAN's economic growth, with a higher risk appetite and long-term investment horizon of 5 years or more.
Important: Unit trust investments carry risks including market risk, interest rate risk, and currency risk. Past performance is not a guarantee of future returns. Please read the Master Prospectus and consult a licensed financial adviser before investing.
PAIF invests primarily in Shariah-compliant equities across the ASEAN region — Malaysia, Singapore, Indonesia, Thailand, Philippines, and Vietnam.
Performance Benchmark: 5.5% growth in NAV per annum over the long-term.
With a population accounting for approximately 8.64% of the world's population, ASEAN has a combined GDP of about USD 3.9 trillion, ranking 5th among major economies.
Home to the 3rd largest labour force in the world, the region has one of the world's youngest and fastest-growing labour forces, driving ASEAN to achieve one of the strongest GDP growth rates globally. Almost 380 million people in ASEAN are under the age of 35, and the middle class is expected to more than double in size to 334 million by 2030. With increased urbanisation, over 90 million people are expected to move to urban areas by 2030, spurring USD 7 trillion in investment in infrastructure, housing and commercial space. The ASEAN economy is set to overtake Japan to become the 4th largest economy in the world by 2030.
ASEAN is blessed with commodity deposits and agricultural abundance.
Indonesia has the largest nickel reserves in the world at 22% of known reserves, and is the second largest producer of tin after China. Indonesia and Malaysia combined are the largest producer of crude palm oil in the world, while Vietnam and Thailand are the second and third largest rice exporters. Vietnam is the second largest producer of coffee in the world after Brazil, and the largest producer of cashew nuts. Philippines and Thailand combined are the largest producers of pineapple in the world.
ASEAN member states are prime beneficiaries of supply chain and manufacturing relocations out of China.
ASEAN member states' economies and equity markets are in different stages of development. The region offers investment opportunities in diverse businesses operating under varying economic, governmental and business environments. As a result of continuing US-China trade and geo-political tensions, ASEAN nations are prime beneficiaries of global supply chain realignment. With 2024E P/E of ASEAN equity markets expected to range from 10.1x to 13.9x, valuations remain reasonable after factoring in the region's economic and earnings growth potential.
| Category / Type | Equity (Islamic) |
| Launch Date | 16 December 2021 |
| Fund Size (31 Dec 2023) | RM 2.5 million |
| Investment Manager | Pheim Islamic Asset Management Sdn Bhd |
| Trustee | Maybank Trustees Bhd |
| Shariah Adviser | Amanie Advisors Sdn Bhd |
| Maximum Sales Charge | 5% |
| Annual Management Fee | 1.5% p.a. |
| Annual Trustee Fee | 0.055% p.a. |
| Initial Offer Price | RM 1.00 |
| NAV/Unit (31 Dec 2023) | RM 0.9305 |
| Min. Initial Investment | RM 1,000 |
| Min. Additional Investment | RM 100 |
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