Fund Goals / Features
Pheim Income Fund aims to provide its Unit Holders with consistent income returns in the medium to longer term by investing primarily in medium to long-term fixed income instruments. A smaller percentage of the fund is also invested in equites and other high yielding instruments.
Pheim Income Fund is suitable for risk adverse investors who are looking for consistent income while taking lower risks compared to equity investments. Investors in this class would like to seek better return as compared to most fixed deposits in the longer term.
Conservative Fund
Asset Allocation & Benchmark
The Fund adopts predominantly a value approach to investing combined with active asset allocation strategy. The external investment manager may vary its Equities and Fixed Income Instruments weighting accordingly to accommodate fluctuating market cycles and changing macroeconomic conditions. The asset allocation of the Fund, as a percentage of the NAV of the Fund, is at 70% – 100% in Fixed Income Instruments and Liquid assets, and a maximum of 30% in Equities and Other High Yielding Instruments. The performance benchmark of this Fund is Maybank 1-Year FD rate at the beginning of the year.
Fund Performance – Last 5 Years
Annual Return | 2019 | 2020 | 2021 | 2022 | 2023 | |
Fund | 6.80% | 5.00% | 2.17% | -2.64% | 1.46% | |
Benchmark | 3.10% | 2.21% | 1.85% | 2.85% | 2.78% | |
Outperformance | +3.70% | +2.79% | +0.32% | -5.49% | -1.32% | |
Cumulative Return (1 year – 5 years) | 1 year (2019) | 2 years (2019 – 2020) | 3 years (2019 – 2021) | 4 years (2019 – 2022) | 5 years (2019 – 2023) | |
Fund (Since 1 January 2019) | 6.80% | 12.14% | 14.58% | 11.56% | 13.19% | |
Benchmark (Since 1 January 2019) | 3.10% | 5.31% | 7.16% | 10.01% | 12.80% | |
Outperformance | +3.70% | +6.83% | +7.42% | +1.55% | +0.39% |
Cumulative Return (Since Inception) | 2019 | 2020 | 2021 | 2022 | 2023 | |
Fund | 150.30% | 162.82% | 168.53% | 161.45% | 165.28% | |
Benchmark | 60.74% | 62.96% | 64.81% | 67.66% | 70.44% | |
Outperformance | +89.56% | +99.86% | +103.72% | +93.79% | +94.84% |
Source: LSEG Lipper.IM & Bloomberg
Fund Awards & Accolade – LSEG Lipper Fund Awards
Fund Performance – Since Inception
Source: LSEG Lipper.IM & Bloomberg
Fund Performance: 3-, 5-, 10-year and Total Return Since Inception
Pheim Income Fund has established a good long-term track record with the fund outperforming the benchmark by +0.40%, +2.30%, +26.98%, and +55.40% for the 5-,10-,15-, and 20-year periods ending 31 December 2023, respectively.
Cumulatively, PIF registered a total return of 165.28% for almost 22 years since inception, outperformed the cumulative benchmark return (70.44%) by a good margin of +94.84%, as at 31 December 2023. The annualized return since inception was 4.56% p.a. (versus benchmark of 2.47% p.a.), outperformed by +2.09% as at 31 December 2023. By leveraging on an active asset allocation strategy as well as being supported by a maximum 30% exposure into equities & other high yielding instruments. The Fund was able to generate good performance and track record, despite the highly volatile equity market.
As at 31 December 2023
Period | Fund Performance | Benchmark* | Outperformed By |
3-Year | 0.94% | 7.48% | -6.55% |
5-Year | 13.19% | 12.79% | +0.40% |
10-Year | 31.31% | 29.01% | +2.30% |
15-Year | 71.19% | 44.21% | +26.98% |
20-Year | 118.14% | 62.74% | +55.40% |
Since Inception | 165.28% | 70.44% | +94.84% |
Annualised Return Since Inception | 4.56% p.a. | 2.47% p.a. | +2.09% |
Source: LSEG Lipper.IM & Bloomberg
* Maybank 1-Year FD Rate
Fund Historical Income Distribution
Over its 21 years of operation, PIF has consistently produced income distributions every year without fail (thanks to the cash reserves it accumulated via realized profits arising from stock disposals).
Fund Key Information
Pheim Income Fund | |
Category/Type of Fund | Mixed Asset/ Conservative |
Launch Date | 28 January 2002 |
Fund Size @ 31 Dec 2023 | RM12.44 million |
Investment Manager | Pheim Asset Management Sdn Bhd |
Trustee | Maybank Trustees Bhd |
Maximum Sales Charge | Nil |
Annual Management Fee | 1.0% |
Annual Trustee Fee | 0.055% |
Initial Offer Price | RM 1.00 |
NAV/Unit @ 31 Dec 2023 (Adjusted for distribution since inception) | RM 0.9857 (RM 2.6528) |
Min. initial investment | RM 1,000 |
Min. Additional investment | RM 100 |