The approved fund size of MASF is three hundred million (300,000,000) units.
| Inception date | : 1970 |
| Financial Year-End | : 15th day of January |
| Type of Fund | : Smallcap |
| Category of Fund | : Equity |
Investment Objective of MASF
The investment objective of the Fund is to achieve Long Term capital growth through investments in smaller, high growth companies.
Note: Any material changes to the investment objective of the Fund would require the Unit Holders’ approval.
Investors’ Profile
MASF is suitable for investors who are seeking Long Term capital growth and are prepared to take on a higher level of risk associated with investment in small capitalised stocks.
Investment Policy and Strategy
The investment strategy is to seek Long Term capital appreciation by investing in shares of smaller, high growth companies.
The overall investment strategy for the Fund focuses on implementing appropriate asset allocation and securities selection based on the prevailing investment outlook at that time. In other words, the Manager aims to employ the optimal combination of asset allocation and securities selection strategies for the Fund at any point of time. The Manager adopts a "Top Down" approach to asset allocation and a "Bottom Up" approach to securities selection.
Asset allocation decisions are arrived at after assessing the international and local economic and political environment as well as all other relevant factors. As for securities selection, the Manager uses various valuation yardsticks to value equities. Depending on the company's business activity, sector characteristics and stage of economic cycle, some or all of these yardsticks may be used to value the equities. The stock selection strategy also involves identifying when changes occur in a company, which should eventually translate into a superior performance of its share price.
Risk Management Strategies
The Manager will utilise asset allocation to mitigate the overall investment risk to the Fund. Asset allocation allows for strategic switching of assets to protect the overall value of the Fund when necessary. Sector selection on the other hand provides the opportunity to diversify investment risk within an asset class. Furthermore, for equities, investment in any one stock is normally not more than 5% to 10% of the respective Fund as a matter of risk diversification.
Temporary Defensive Measures
The Manager may take temporary defensive positions that may be inconsistent with the Fund’s asset allocation in attempting to respond to adverse economic, political or any other market conditions. In such circumstances, the Manager may reallocate the Fund’s equity investments into other asset classes such as cash and/or liquid assets.
Gearing Policy
The Fund shall not borrow cash or other assets (including the borrowing of securities) to finance the activities of the Fund or lend any of its cash or investments.
If you are interested to know more on this fund and its procedures on investment, redemption, switching, transfer or exercise the cooling off right, please contact our Customer Service.
