Malaysia: RM34.77 billion under Islamic unit trust management
KUALA LUMPUR: The Securities Commission (SC) said Malaysian unit trust managers have nearly RM353.7 billion under their management as of Jan 31.
This amount represents a 24.86% in net asset value of the market capitalisation of Bursa Malaysia Bhd.
The amount under management by fund managers was RM53.5 billion and as at Jan 31, there were 40 approved fund managers.
The number of approved funds were 192, which included funds that were approved but not yet launched, with 142 of these funds conventional while the others were Islamic-based.
The amount managed by fund managers in December 2012 was RM52.5 billion and the latest figures released by the SC represents an increase of 1.9% on a monthly basis.
The total wholesale funds as at Jan 31 net asset value was 3.76% of the market capitalisation of Bursa Malaysia.
The 41 approved unit trust management companies (UTMC) managed a total of RM300.19 billion as at Jan 31, 2013. There were 607 approved funds where 433 were conventional and 174 were Islamic-based.
The amount managed by conventional unit trusts was RM265.42 billion while another RM34.77 billion was managed by Islamic unit trusts.
The total amount managed by UTMC represented 21.1% of the market capitalisation of Bursa Malaysia. The amount managed by UTMC in December 2012 was RM294.8 billion and the January 2013 figures show an increase of 2.04%.
“The wholesale funds and the amounts managed by UTMC especially the Islamic funds are relatively small and have further upside growth. The authorities should do more to educate the investors about these funds.
The high domestic savings rate of around 34% shows that the investing public may have been choosing alternative investments to invest their monies,” said a local fund manager.