Key Points:
- 10 funds beat the KLCI
- Top performing fund was Kenanga Growth Fund
- 4 funds had lower downside risk than the KLCI
- 1 small cap fund achieved higher gains but came with higher risks
As a continuation of a similar article we wrote at the beginning of last year, we reviewed the performance of the Malaysia equity funds on our platform. There was a lot of uncertainty in 2011 and 2012 is expected to be a continuation of previous years; no different in terms of the amount of volatility besetting the financial markets globally.
Though the FBM KLCI only gained 4.5% in terms of total return in 2011 (a pale comparison to 23.8% a year earlier), it was among the best performing markets under our coverage. Within the Malaysia equity space, how many funds on our platform bested the KLCI's performance? See Table 1 below for our findings.
TEN FUNDS OUTPERFORMED THE KLCI
| Table 1: Funds that have outperformed the KLCI | ||
#
| Fund |
2011 Return
|
1
| Kenanga Growth Fund |
19.1%
|
2
| Kenanga Syariah Growth Fund |
16.9%
|
3
| Prudential Equity Income Fund |
10.7%
|
4
| Alliance Optimal Income Fund |
9.2%
|
5
| Prudential Dana Al-Ilham |
9.0%
|
6
| AmIslamic Growth |
6.0%
|
7
| AmIttikal |
5.4%
|
8
| OSK-UOB Emerging Opportunity Unit Trust |
5.2%
|
9
| RHB Malaysia DIVA Fund |
5.1%
|
10
| OSK-UOB Malaysia Dividend Fund |
5.0%
|
| FTSE Bursa Malaysia KLCI |
4.5%*
| |
| Unit trust performance is based on NAV with dividends reinvested *Based on total returns, i.e. inclusive of dividends reinvested Source: Bloomberg and iFAST | ||
Top Performing Fund
The top performing fund - Kenanga Growth Fund - has been a fund that everyone at Fundsupermart unanimously loves and is also one of the top-selling funds on our platform. The fund manager is particularly proud that they "try to minimise as far as practicable the volatility" of their funds, and that investors "will notice that our funds in general have lower volatility than their peer group."
This concurs with our findings when we analysed the fund's performance in a Chart Talk article, in which we concluded that the Kenanga Growth Fund is a relatively slow and steady performer as shown by the data.
The top performing funds mostly had significant exposure to sin product manufacturers (i.e. breweries and tobacco companies), oil palm plantations, telecommunication services companies, commercial banks and real estate investment trusts (REITs), all of which performed particularly well in 2011.
Going forward, we expect Malaysia's economy to grow at 4.0 - 4.5% year-on-year in 2012, with the economy supported by domestic consumption and private and public investments under the Economic Transformation Programme (ETP).
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