| Inception Date | : 1st April 2004 |
| Financial Year-End | : 15th day of October |
| Type of Fund | : Income (Shariah Based) |
| Category of Fund | : Islamic Money Market |
Investment Objective of MASMMF
The Fund seeks to provide investors with a regular income stream over the short to medium term that complies with Shariah requirements whilst maintaining capital stability.
Note: Any material changes to the investment objective of the Fund would require the Unit Holders’ approval.
Investors’ Profile
This Fund is suitable for Investors who:
• seek regular income that complies with Shariah requirements with Capital stability;
• have short to medium-term investment horizon; and
• have low risk tolerance.
Investment Policy and Strategy
The Fund will invest in Islamic money market instruments and other short-term Islamic debt instruments.
The Fund will invest at least 90% of its NAV in Shariah-based deposits, Islamic money market instruments or Islamic short-term debt instruments, all of which have a remaining maturity period of not more than 365 days. Up to 10% of the Fund’s NAV will be invested in Islamic short-term debt instruments which have a remaining maturity period of more than 365 days but less than 732 days.
The minimum credit rating of Islamic money market instruments and Islamic short-term debt instruments that the Fund shall invest in is at least “BBB” for long-term instruments or “P2” for short-term papers. Should the ratings be downgraded below the stated minimum credit rating, the Manager shall dispose off the instruments/papers within the reasonable time frame taking into consideration of market condition and factors at that point of time.
The Fund will be actively managed.
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. For sukuk investments, diversification of maturity dates, profit profiles and a minimum credit rating of BBB of the instruments help to mitigate the investment risk.
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 sukuk investments into other asset classes such as cash and/or Shariah-based 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.
