Investment Management

AUM for the fund management industry stood at RM906.46 billion as at end of December 2022 (Chart 1), recording a decrease of -RM44.59 billion, or -4.69% from 2021’s AUM of RM951.05 billion. This was largely due to a reduction in the market value of assets in line with sluggish global markets as assets were mainly allocated in equities (47.59%, 2021: 49.20%), followed by fixed income securities (23.25%, 2021: 22.05%) and money market (14.81%, 2021: 15.40%).

Allocation in foreign assets decreased by -RM30.05 billion to RM281.59 billion (Chart 2), while the allocation in local assets dropped by -RM14.54 billion to RM624.87 billion (Chart 3) mainly due to net redemptions in money market funds and weaker market valuations.

Foreign AUM allocation was primarily concentrated in the US, Asia Pacific Ex China, Japan and ASEAN and European Union (Chart 4).

* The numbers may not add up due to rounding.

UTF remained the largest source of AUM at 53.83% (2021: 55.40%), followed by the Employees Provident Fund (EPF) at 17.41% (2021: 17.34%) and corporate bodies at 10.78% (2021: 9.97%) (Chart 5).

UTF’s NAV stood at RM487.94 billion as at December 2022 (Chart 6), a decrease from RM526.90 billion in December 2021. This was driven by a drop in asset values, consistent with equity market weakness and the overall movement of AUM

Fund managers have in place adequate liquidity risk management processes to ensure sufficient liquidity in the funds to manage redemptions in an orderly manner. UTFs recorded a net redemption of -RM9.60 billion3 as at December 2022, comprising gross sales of RM239.56 billion3 and gross redemptions of -RM249.16 billion (2021: net sales of RM15.92 billion)3 , mainly driven by net redemptions in money market funds.

3 Include reinvestment of distribution.

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