CIMB-Principal Asset Management Berhad won the Best Malaysian Equity Fund award for its CIMB Islamic DALI Equity Growth Fund. The award, presented by Failaka Advisors at the 4th Annual Failaka Islamic Fund Awards, was based on the fund’s performance as of 31 December 2008.J. Campbell Tupling, CEO of CIMB-Principal, said: "The Fund has outperformed its index over a three-year period by 25.91 percent. The award goes to show that our fund has performed commendably with good capital preservation over the long term."According to CIMB, the fund has proven to be suitable for investors with a medium to long term investment horizon and for those who want to invest in a diversified portfolio that adheres to the Islamic principles. The fund, said the CIMB, is conservatively positioned with an equity allocation of 70 percent.The company further described its fund to consist of a bar-bell structure with a layer of defensives stocks which together make up 10 percent of the portfolio. At the same time, it said that the fund is also keyed into the current market theme, which is currently overweight in the Construction sector in anticipation of more pump-priming projects.Failaka Advisors offers institutions and private investors access to information on Shariah-compliant investment funds. Established in 1996, Failaka was the first company to monitor the performance of Shariah-compliant funds worldwide. It has then expanded its products and services to include advisory services and an online database and guide for Shariah scholars.
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