Pheim Asia Ex-Japan Islamic Fund

Islamic Equity/Growth Fund

Source: LSEG Lipper.IM & Bloomberg

Investors tend to very sensitive to the pricing of a fund’s NAV. Here the philosophy of “Buy Low-Sell High” sentiments tend to override rationale and people shy away from a fund as they feel it is overvalued. By conducting a unit split, the fund’s selling price is lowered to encourage new investments.

According to the guideline laid out by the Securities Commission Malaysia “A unit split may only be conducted when the monthly average NAV per unit of the fund has shown a sustainable appreciation over 6-month period preceding the unit split exercise”.

PAXJI conducted a unit split on the 30^th of November 2017. The ratio of the split was 1:1, indicating that all unitholders of PAXJI would now hold double (x2) the number of units they originally bought but said units would amount to the original NAV value before the split occurred.

Pheim made the decision that this was necessary as the buying price per unit of PAXJI before the unit split was ranging around MYR 1.30-1.33, which was considered high at the time. The sharp rise in unit price is directly correlated with improving fund performance as the value of the underlying assets were appreciating at too high rate

Over the past 17 years since inception, the Fund has established a good long-term performance track record.

Pheim Asia ex-Japan Islamic Fund has won 3 LSEG Lipper Fund Awards (Global Islamic – Equity Asia Pacific ex-Japan category) for 1-year period ending December 2013; 2-year period ending December 2014; and 3-year period ending December 2019. On the local awards, Pheim Asia ex-Japan Islamic Fund has also won 2 LSEG Lipper Fund Awards (Malaysia Islamic – Equity Asia Pacific ex-Japan category) for 5-year period ending December 2011; and 3-year period ending December 2019.