Page 60 - KWAP_AR2022

58 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER PERFoRMANcE

INVESTMENT REVIEW
ASSET CLASS REVIEw

List of Domestic Equity External Fund Managers as at Performance of Domestic External Mandates as at
31 December 2022 31 December 2022

Conventional Excess
Mandate Allocation TWRR Benchmark Returns
Principal Asset Management Sdn Bhd (%) (%) (%) (%)
Nomura Asset Management Malaysia Sdn Bhd
Conventional 76.4 -2.89 -5.40 2.51
Abrdn Malaysia Sdn Bhd
Shariah 11.2 -6.31 -7.22 0.91
Affin Hwang Asset Management Berhad
ESG 2.2 -1.02 -5.40 4.38
Kenanga Investors Berhad
Absolute 10.2 -2.49 8.00 -10.49
Maybank Asset Management Sdn Bhd
Total 100.0 -3.19 -5.40 2.22
Eastspring Investments Berhad
UOB Asset Management Sdn Bhd Externally-Managed International Equity Portfolio
Shariah In 2022, KWAP’s externally-managed international
Principal Islamic Asset Management Sdn Bhd portfolios have been restructured and segregated
into three mandates, namely, Global Equity -
AmIslamic Asset Management Berhad Conventional, Global Equity - ESG, and Global Equity
Multi-Factor (GEMF) mandates.
AIIMAN Asset Management Berhad
Environmental, Social and Governance List of International External Fund Managers as at
31 December 2022
BNP Paribas Asset Management Malaysia Sdn Bhd
Absolute Return Global Equity - Conventional
Eastspring Investments Berhad State Street Global Advisors Limited
Abrdn Malaysia Sdn Bhd Invesco Asset Management Singapore Limited
Affin Hwang Asset Management Berhad Global Equity - ESG

Nikko Asset Management Asia Limited
KWAP continued its active engagement with all domestic
EFMs on a quarterly basis to review their performance and LGT Capital Partners
operational compliance. For portfolios under the watchlist,
the monitoring interval was done regularly on a monthly Global Equity Multi-Factor
basis. In addition, we had also conducted on-site visit and
virtual visit to the EFMs premises throughout the year. Invesco Asset Management Singapore Limited
Despite the challenging market environment in 2022 where Allianz Global Investors
the FBM100 index recorded -5.40%, the EFMs registered
an aggregate TWRR of -3.19% for 2022, representing an As at 31 December 2022, all portfolios outperformed
outperformance of 222 bps.
their respective benchmarks except for Global Equity
One of KWAP’s initiatives for 2022 includes investing in portfolio mandate as KWAP converted the Asia Pacific
high performing external fund managers. This is to Ex-Japan mandate into global equity mandate
strategically strengthen KWAP exposure within the strategy. The underperformance resulted from the portfolio
domestic equity market. This is carried out by injecting conversion from the previous Asia Pacific Ex-Japan
additional capital into the top-performing EFMs and
terminating a non-performing EFM. strategy effective in February 2022.