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Compliance

Principal Asset Management Berhad ('Principal') has a compliance unit which is responsible to ensure that all business conducts and practices of the Company complies with securities laws, regulations and relevant guidelines which are gazetted and issued by the regulators.

The compliance unit reports directly to the board of directors and works closely with the senior management personnel on all compliance matters. The Unit also liaises with other departments within the Company to discharge the duties and functions effectively.

Other responsibilities include: Establishing, maintaining and administering the implementation of policies and procedures to detect and prevent breaches of securities laws, regulations and relevant guidelines; Preparing and tabling compliance reviews to the board of directors; Maintaining and reviewing compliance procedures for each area of the Company’s operation; Examining and investigating any irregularity in the Company’s operations; Assisting in training and educating staff members on compliance matters, industry and regulatory developments.

Principal has developed a set of "Rules of Business Conduct" which applies to all employees that set forth Principal's commitment to conduct its business lawfully with high credibility and integrity. The culture dictates that compliance is each employee's responsibility. Principal also has a Business Continuity Plan (BCP) in place that details the Company’s back-up plans for all key systems and proceeding of operations in the event of disaster.

Risk Management

Principal's risk management comprises dedicated risk management and compliance teams, and members of the investment committee.

The team works in tandem with the investment team to ensure the level of risk meets the expectations of clients' overall performance targets that are set against the appropriate benchmark. Portfolios are constructed and managed within pre-determined guidelines such as risk budgets that will be monitored regularly.

Investment Committee

Principal has appointed the investment committee for the Funds, pursuant to the requirements under the Securities Commission Malaysia (SC) guidelines. The investment committee currently consists of five (5) members including two (2) independent members.

Generally, the investment committee meets once a month and is responsible for ensuring that the investment management of the Funds is consistent with the objectives of the Funds, the Deeds, the SC guidelines and relevant securities laws, any internal investment restrictions and policies of the Manager, as well as acceptable and efficacious investment management practices within the unit trust industry.

In this role, the powers and duties of the investment committee include formulating and monitoring the implementation by the Manager of appropriate investment management strategies for the Funds and the measurement and evaluation of the performance of the Manager.

Investment Committee Members

Uday Jayaram
Non-Independent member
Executive Managing Director, Head, Southeast Asia.

Experience:
Uday brings with him an accumulated experience of 30 years in the fields of audit, management consultancy, equities research, institutional sales, capital markets, stock exchange business most recently, in upstream oil and gas. He commenced his career with the financial institutions group within the audit division of Ernst and Young, London. In addition to several global clients such as HSBC, ABB Group and IKEA, Uday was fortunate to gain experience in projects for the World Bank which included the restructuring of banks in Kazakhstan. Returning to Malaysia, Uday’s equities research and sales experience saw him joining Deutsche Morgan Grenfell, CIMB, ING Financial Markets and Macquarie Capital Securities where he was Division Director and Head of Equities of the Malaysia business. Moving on to Bursa Malaysia, Uday was Global Head of Securities Markets with overall responsibility for the development of the exchange’s cash equities business. Uday also served as a member of Bursa’s Market Participants Committee and was Chairman of the FTSE Bursa Index Advisory Committee. Prior to joining Principal, Uday was the Senior Vice President of Corporate Development at Hibiscus Petroleum Bhd where he was involved in corporate strategy, business planning, debt and equity funding and investor relations.

Qualification:
Uday holds a BSc Economics degree majoring in Accounting and Finance from the London School of Economics and is a qualified Chartered Accountant with the Institute of Chartered Accountants in England and Wales (ICAEW).

May Tong
Non-Independent member
^CFA Managing Director & Portfolio Manager

Experience:
May is a Managing Director and Portfolio Manager at Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors focused on multi-asset strategies and solutions.  She is responsible for managing the Dynamic Outcomes suites of strategies which provides outcome-oriented solutions to global clients. Prior to joining Principal in 2021, May was SVP and Senior Portfolio Manager with Franklin Templeton’s Investment Solutions group developing and managing global multi-asset strategies and solutions including target-date, target risk, 529 plans, retirement income and model portfolios.  Previously, she was also a Portfolio Manager and Head of Portfolio Implementation & Management with Voya’s Multi-Asset Solutions group. May started off her career with Merrill Lynch Investment Management and subsequently joined ING Investment Management (now Voya IM) whereby she managed quantitative equity and index equity portfolios. 

Qualification:
May has an MBA from Columbia University, a bachelor’s degree in finance and accounting from Boston College, and has earned the right to use the Chartered Financial Analyst designation. 

* Independent Member.

Financial Information

Total Number of Fund and Total Value of Funds Under Management 

As at 30 November 2024.

Total Value of Asset Under Management (Unit Trust + Mandate + PRS) - RM 78.212 billion

Total Number of Fund 
66 Conventional Unit Trust funds (including 2 Exchange-Traded Funds)
27 Islamic Unit Trust
20 PRS Funds
 

Shariah Adviser

Amanie Advisors Sdn Bhd (''Amanie'')

Amanie is a Shariah advisory, consultancy, training and research and development boutique for institutional and corporate clientele focusing on Islamic financial services. It is a registered Shariah advisory company for Islamic unit trust with the Securities Commission Malaysia (SC). Amanie was established with the aim of addressing the global needs for experts' and Shariah scholars' pro-active input. This will ultimately allow the players in the industry to manage and achieve their business and financial goals in accordance with the Shariah Principles. 

The roles of Shariah Adviser are:
1. Ensure that the Fund is managed and administered in accordance with Shariah Principles.
2. Provide expertise and guidance in all matters relating to Shariah Principles, including on the Fund's deed and prospectus, its structure and investment process, and other operational and administrative matters.
3. Consult with SC where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process.
4. Act with due care, skill and diligence in carrying out its duties and responsibilities.
5. Responsible for scrutinising the Fund's compliance report as provided by the compliance officer and investment transaction reports provided by, or duly approved by, the Trustee to ensure that the Fund's investments are in line with Shariah Principles.
6. Prepare a report to be included in the Fund's interim and annual reports certifying whether the Fund have been managed and administered in accordance with Shariah Principles for the period concerned.

With more than fourteen (14) years of experience in the advisory role of unit trusts, Amanie has to date managed more than 170 funds locally and globally. 

Tan Sri Dr. Mohd Daud Bakar 
Shariah Adviser and Executive Chairman of Amanie Advisors Sdn Bhd 
Tan Sri Dr. Mohd Daud Bakar is the Founder and Executive Chairman of Amanie Group. One of its flagship companies namely Amanie Advisors, is operating in a few cities globally. He serves as the Chairman of the Shariah Advisory Council (SAC) of the Astana International Financial Centre (AIFC), Kazakhstan, the First Abu Dhabi Bank (UAE), Madina Takaful (Oman), and Salama Insurance (UAE). He was the former Chairman of the Shariah Advisory Council (SAC) at the Central Bank of Malaysia, and former Chairman of the SAC at the Securities Commission of Malaysia for more than 2 decades. He was also the former Chairman of Federal Territory Islamic Religious Department (MAIWP).

Tan Sri Dr Daud is also a Shariah board member of various global financial institutions including the Amundi Asset Management (France), BNP Paribas Najma (Bahrain), Sedco Capital (Saudi and Luxembourg) and Dow Jones Islamic Market Index (New York) amongst many others.

In the corporate world, he was a member of the PNB Investment Committee. Previously, he served as a Board Director at Sime Darby Property Berhad and Chairman to Malaysia Islamic Economic Development Foundation (YaPEIM). In addition, he is the cofounder of Experts Analytics Centre Sdn Bhd and MyFinB Sdn. Bhd. He also serves as the Chairman of Berry Pay Sdn. Bhd. (payment gateway), (payment gateway), and Amanie- Afra Halal Capital Co (Bangkok). He was the former 8th President of the International Islamic University of Malaysia (IIUM).

In July 2023, Tan Sri Dr Mohd Daud has received the conferment of the New Islamic Year (Maal Hijrah) Special Prominent Figure award by the State Government of Kedah, Malaysia in conjunction with the state-level Maal Hijrah celebration. Tan Sri has received the “Royal Award for Islamic Finance 2022” by His Majesty, the King of Malaysia. While in 2014, he received the “Most Outstanding Individual” award by His Majesty, the King of Malaysia, in conjunction with the national-level Prophet Muhammad’s birthday. Under his leadership, Amanie Advisors received the “Islamic Economy Knowledge Infrastructure Award” at the Global Islamic Economy Summit, Dubai 2015, by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, October 2015. On 13 November 2021, he was conferred the Commander of the Order of Loyalty to the Crown (Panglima Setia Mahkota P.S.M.) by His Majesty the King of Malaysia which carries the title of “Tan Sri”.

He received his first degree in Shariah from University of Kuwait in 1988 and obtained his PhD from University of St. Andrews, United Kingdom in 1993. In 2002, he completed his external Bachelor of Jurisprudence at University of Malaya.

Suhaida Mahpot, ^CSAA
Chief Executive Officer, Amanie Advisors Sdn Bhd
Suhaida Mahpot is the Chief Executive Officer for Amanie Advisors in Kuala Lumpur office. She holds a Bachelor of Economics (Islamic Economic & Finance) from International Islamic University Malaysia and a professional certificate of Certified Shariah Advisor and Auditor (CSAA) of AAOIFI. 

She joined Amanie in 2008 and was amongst the pioneers in the company. She is a specialist in sukuk advisory and has been advising numerous sukuk locally and internationally. One of the sukuk advised by her together with Tan Sri Dr Mohd Daud Bakar has been awarded as Best Securitisation Sukuk at The Asset Triple A Islamic Finance Award (2020). Apart from sukuk advisory, her primarily focus is on Shariah governance, structuring, enhancement and conversion exercises, establishment of Islamic financial entities as well as development of Islamic products. Her career in banking & financial industry started as a trainee under Capital Market Graduated Trainee Scheme organized by the SC. 

Prior to joining Amanie, she worked with Affin Investment Bank Bhd since 2006 as an executive for debt & capital markets department. She completed various project financing deals using private debt securities instruments ranging from infrastructure & utilities, real estate, plantation and many others.

Designated person for Shariah Matters;

Ahmad Anas Fadzil,^{CSAA, CIPA} 
Senior Consultant, Amanie Advisors Sdn Bhd
Ahmad Anas is the Senior Consultant for Amanie Advisors, based at the Head Office in Kuala Lumpur. As part of Amanie Advisors’ global team, his primary focus is on advising and delivering projects for various Islamic financial services across the globe on their strategic issues and on Shariah compliant products and instruments. 

Prior to joining Amanie Advisors, he was attached with Sigur Ros for Turkey’s Project of Century: Turkish Republic North Cyprus Water Supply project where he had been assigned as the Project Accountant based in Turkey. Among his responsibilities was the preparation of various reports pertaining to the Project Account. Prior to that, he was an auditor with Ernst & Young, attached to Global Financial Services department, engaged in performing auditing work for the financial institutions.

Ahmad Anas is an Associate Member of Association of Shariah Advisors in Islamic Finance (ASAS) and holds a professional certificate of Certified Shariah Advisor and Auditor (CSAA) and Certified Islamic Public Accountant (CIPA) from Accounting and Auditing Organisation for Islamic Financial Institution (AAOIFI). He holds a Master of Islamic Finance (MSc) from The Global University of Islamic Finance (INCEIF), and is an accounting graduate from Universiti Teknologi Mara (UiTM). He speaks English, Malays and Turkish. 

Muhammad Hafizuddin
Assistant Consultant, Amanie Advisors Sdn Bhd
Muhammad Hafizuddin graduated with a Bachelor of Business Administration (HONS) Islamic Banking from Universiti Teknologi Mara (UiTM). He was exposed to the financial and Shariah advisory services such as Shariah stock screening, monitoring and compliance review during his internship with Amanie.

Sub-Managers

Principal Asset Management (S) Pte. Ltd. (formerly known as CIMB-Principal Asset Management (S) Pte. Ltd) (“Principal Singapore”)

Sub-Manager for:

• Principal DALI Equity Fund (formerly known as CIMB Islamic DALI Equity Fund) (foreign portion)
• Principal DALI Asia Pacific Equity Growth Fund (formerly known as CIMB Islamic DALI Asia Pacific Equity Growth Fund) (foreign portion)
• Principal Islamic Lifetime Balanced Fund (formerly known as CIMB Islamic Balanced Fund) (foreign portion)
• Principal Asia Titans Fund (formerly known as CIMB-Principal Asian Equity Fund)
• Principal China-India-Indonesia Opportunities Fund (formerly known as CIMB-Principal China-India-Indonesia Equity Fund)
• Principal Titans Growth & Income Fund (formerly known as CIMB-Principal Equity Growth & Income Fund) (foreign portion)
• Principal Titans Income Plus Fund (formerly known as CIMB-Principal Equity Income Fund) (foreign portion)
• Principal Global Titans Fund (formerly known as CIMB-Principal Global Titans Fund) 
• Principal Asia Pacific Dynamic Income Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Income Fund)
• Principal Asia Pacific Dynamic Income Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Income Fund)
• Principal Asia Pacific Dynamic Mixed Asset Fund (formerly known as CIMB-Principal Asia Pacific Dynamic Mixed Asset Fund)
• CIMB-Principal Asia Pacific Target Return Fund 1
• Principal Dynamic Growth Fund (formerly known as CIMB-Principal Dynamic Growth Fund) 

Principal Asset Management Berhad (“Principal Malaysia”) has appointed Principal Singapore as the Sub-Manager for the above funds, and was granted the discretion to manage, realise, invest, reinvest or howsoever deal with the respective portion of these funds allocated to foreign investments in accordance with the investment objectives of each of these funds. The Sub-Manager’s discretionary authority over the foreign investments of these funds is subject to the Guidelines on Unit Trust Funds issued by the Securities Commission Malaysia, the Capital Markets and Services Act 2007 and the internal policies and procedures. 

Principal Malaysia shall be responsible for the review, monitoring and oversight of Principal Singapore in the performance of its duties and obligations in respect of these funds.

Principal Singapore was incorporated in Singapore on 18 May 2006, and has been in the fund management industry for more than ten (10) years. The company is a wholly-owned subsidiary of Principal Malaysia. Principal Singapore is a regional asset management company established in Singapore offering both Islamic and conventional fund management services. The company manages regional investment activities for the Principal Asset Management group of companies. 

Principal Singapore is a licensed fund manager regulated by the Monetary Authority of Singapore. The company is the Fund Manager for the CIMB FTSE ASEAN 40 ETF and several other discretionary accounts and SGD 3.9 billion in Assets Under Management as of 31 December 2018.

Board of Directors of Principal Asset Management (S) Pte. Ltd.

Christopher Leow, Chief Executive Officer and Chief Investment Officer.
Alejandro Elias Echegorri Rodriguez, Director.
Chong Chooi Wan, Director.

Principal Global Investors, LLC (“PGI”)
Sub-Manager for: 

• Principal Global Millennial Equity Fund (MILEF)
• Principal Islamic RetireEasy 2060 (iRE60)
• Principal Islamic RetireEasy 2050 (iRE50)
• Principal Islamic RetireEasy 2040 (iRE40)
• Principal Islamic RetireEasy 2030 (iRE30)
• Principal Islamic RetireEasy Income (iREI)
• Principal RetireEasy 2060 (RE60)
• Principal RetireEasy 2050 (RE50)
• Principal RetireEasy 2040 (RE40)
• Principal RetireEasy 2030 (RE30)
• Principal RetireEasy Income (REI)

PGI was appointed as the Sub-Manager for the above fund(s). As the Sub-Manager, PGI is responsible for the investment management function of the fund(s), which granted it with the discretion to manage, realize, invest, reinvest or howsoever deal with the fund(s) in accordance with the investment objective of the fund(s). The Sub-Manager’s discretionary authority over the investments of the fund(s) is subject to the Guidelines on Unit Trust Funds and/or Guidelines on Private Retirement Schemes issued by the Securities Commission Malaysia and the internal policies and procedures. Principal Asset Management Berhad shall be responsible for the review, monitoring and oversight of PGI in the performance of its duties and obligations in respect of the fund(s).

PGI is a global investment management leader and wholly-owned subsidiary of the Principal Financial Group® (“The Principal®”), a public company listed on the New York Stock Exchange under ticker symbol PFG. The Principal^® was founded in 1879, began managing retirement assets in 1941, and today operates four primary business segments: Principal Global Investors, Retirement and Investor Services, Principal International, and Insurance Solutions.

PGI was formed as a Delaware Limited Liability Company in 1998 and became a registered investment advisor with the U.S. Securities and Exchange Commission on October 26, 1998 bringing together more than six decades of asset management experience of the company into a single organization. There have been no major organizational or ownership changes to the firm since inception.

The multi-boutique strategy of PGI enables it to provide comprehensive investment solutions for its clients and encompasses a growing network of specialized investment boutiques and teams with focused expertise in equities, fixed income, real estate, and asset allocation, as well as currency management, stable value management, and other structured investment strategies.

Principal Global Equities (“PGE”) is a specialized investment management group within PGI. PGE has been investing in global equity markets since 1987 and Principal now manages more than US $675.4 billion of assets, which includes over US $442.4 billion of assets managed by Principal Global Investors as of 31 March 2019. PGE provides client-focused active fundamental strategies and systematic solutions across equity markets worldwide. 

Key person responsible for investment management of MILEF

Jeffrey A. Schwarte, CFA - Portfolio Manager
Jeff is a portfolio manager for Principal Global Equities. He co-leads the firm’s global systematic solutions team, responsible for model development and testing, proprietary technologies and risk management analytics for the firm’s fundamental and systematic strategies. He is a portfolio manager for several custom US, international and global systematic strategies and many of the firm’s active strategies. He joined the equities group in 2000 as an analyst, and was named a portfolio manager in 2001. He has been with Principal since 1993, holding various positions with the firm such as investment accountant and auditor. He received a bachelor's degree in accounting from the University of Northern Iowa. Jeff has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Society

Christopher Ibach, CFA - Portfolio Manager  
Chris is a portfolio manager for Principal Global Equities. He specializes primarily in the management of global strategies, integrating fundamental and quantitative research . Chris also leads our advanced research and development initiatives, including ongoing alignment with the Principal data science team, which leads the coordination of our growing community of university and expert network resources. Chris has served as a key contributor to the firm’s research and development efforts for more than a decade, including model development for the firm’s proprietary stock selection models, portfolio construction, and risk management tools. He joined the firm in 2000 as an equities research analyst, specializing in the analysis of international technology companies and was named a portfolio manager in 2002. Previously, Chris gained six years of research and development experience with Motorola, Inc. He received an MBA in finance and a bachelor's degree in electrical engineering from the University of Iowa. Chris has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

Steven Larson - Portfolio Manager - Global Equities  
Steven is a Portfolio Manager for Principal Global Equities. He specializes primarily in the management of global large cap strategies. Steven began his career at Principal in 1992 and held several roles including co-managing international equity portfolios primarily for institutional and retirement plan clients. He also directly participated in the development of the firm’s first global equity strategy in 2002. Before rejoining Principal in 2019, Steven served as a partner and portfolio manager for international equities at Arbor Capital Management, LLC and later as managing director, portfolio manager for international equities at Winslow Capital Management (an affiliate of Nuveen/TIAA). He received an MBA in Finance from University of Minnesota, Carlson School of Management and a bachelor's degree in Finance from Drake University. Steven has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.

Key person responsible for investment management of the iRE60, iRE50, iRE40, iRE30, iREI, RE60, RE50, RE40, RE30 and REI

Randy Welch – Portfolio Manager 
Randy Welch is Managing Director, Portfolio Manager at Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. He is responsible for overseeing the wholly-owned Asset Allocation team. He has been a portfolio manager for the Principal LifeTime Target Date portfolios since 2007 and the Principal Trust Hybrid Target Date Funds since their inception in 2009. He serves as a Portfolio Manager on the multi-managed core/satellite funds and is also responsible for the New Mexico 529 Plan. Randy joined Principal in 1989 and has been in the investment industry since 1985. Randy received an M.B.A. from Drake University and a bachelor’s degree from Grand View College. Randy is an affiliate member of the Chartered Financial Analysts (CFA) Institute.

Scott W. Smith – Portfolio Manager 
Scott Smith is a Portfolio Manager for Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. Scott is involved in the portfolio management of the Principal LifeTime portfolios, the Principal LifeTime Hybrid Funds, and the Principal LifeTime Hybrid CITs, as well as several institutional target risk mandates and other target date offerings. Prior to becoming a Portfolio Manager, Scott served as an analyst and was responsible for building and maintaining asset allocation models. Prior to joining PGAA, Scott was a Portfolio Manager for a number of U.S. equity index portfolios. Scott joined Principal in 1999. He received a bachelor's degree in Finance from Iowa State University.

James Fennessey – Portfolio Manager 
James is a Portfolio Manager within Principal Global Asset Allocation (PGAA), a specialized investment boutique within Principal Global Investors that engages in the creation of asset allocation solutions. He joined the Principal Financial Group in 2000. He has been a portfolio manager for the Principal LifeTime target date portfolios since 2007 and the Principal Trust Target Date CITs since their inception in 2009. He serves as a Portfolio Manager on the multi-managed core/satellite funds and is also responsible for New Mexico 529 Plan. James graduated from Truman State University with a B.S. in Business Administration, with an emphasis in Finance and a minor in Economics. He has earned the right to use the Chartered Financial Analyst designation and is a member of the CFA Institute.
 

Principal Real Estate Investors, LLC
Sub-Manager for Principal Global Real Estate Fund

Principal Global Investors is a global asset management leader and a member of the Principal Financial Group, serving pension and institutional clients since 1841. Principal Real Estate Investors, LLC is a wholly owned subsidiary of Principal Global Investors, LLC and a member of Principal. Principal Real Estate Investors, LLC is a dedicated real estate group builds upon a vertically-integrated platform, incorporating all disciplines of commercial real estate. Drawing from over 6 decades of investment experience and the knowledge and relationships of over 230 real estate investment professionals, we provide our clients with access to opportunities across the spectrum of public and private equity, public debt and private debt investment, Principal Real Estate Investors has earned a reputation as a trusted advisor and built a top-tier investment platform. The
breadth of our capabilities provides a distinct perspective on real estate and capital markets and enables us to deliver the investment solutions our global client base desires.

As the Sub-Manager of the Fund, Principal Real Estate Investors, LLC is responsible for the fund management function of the Fund in accordance with the investment objective and within the investment parameters, restrictions and limits of the Fund.

Given the size and scope of our operations, it is not uncommon for Principal Real Estate Investors LLC to be involved in litigation, both as a defendant and as a plaintiff. However, management does not believe that any pending litigation will have a material adverse effect on our business, financial position or net income.

1. Key management staff of Principal Real Estate Investors - Global Real Estate Securities: Global Portfolio Management Team

2.Key management staff of Principal Real Estate Investors, Commercial Mortgage Backed Securities (CMBS): Global Portfolio Management Team

Fund Outsourcing Providers

Deutsche Trustee Malaysia Berhad

The Manager has appointed Deutsche Trustee Malaysia Berhad to provide fund administration and fund accounting services. It is a wholly owned subsidiary of Deutsche Bank A.G. has built up an established presence in Kuala Lumpur since 1967.

Deutsche Trustee Malaysia Berhad’s roles and responsibilities include keeping proper records, performing valuations of the investments and fund accounting services, which would encompass the following services: 

• Maintaining financial accounting record of portfolios including all transactions data, records and investment ledgers; 
• Monitoring and recording of corporate actions; 
• Performing cash and securities reconciliation with financial institutions and custodian records; 
• Performing valuation of the investments and the Fund; 
• Provision of a reporting package which includes the following: 

1. Statement of Assets and Liabilities 
2. Statement of Income and Expenditure 
3. Portfolio Valuation Report 
4. Transaction schedules 

• Providing relevant information to facilitate the preparation of statistical returns for submission to regulatory bodies; 
• Submitting accounts/accounting records to the appointed external auditors and providing relevant information for disclosure in the annual financial statements (whenever applicable)

HSBC (Malaysia) Trustee Berhad

The manager outsourced its fund valuation function to HSBC (Malaysia) Trustee Berhad (“HSBC”). HSBC is responsible to compute the fund’s NAV based on the method of calculation set out in the fund’s offering document and in accordance with the manager instruction. 

HSBC (Malaysia) Trustee Berhad is a company incorporated in Malaysia since 1937 and registered as a trust company under the Trust Companies Act 1949, with its registered address at 13th Floor, Bangunan HSBC, South Tower, No. 2, Leboh Ampang, 50100 Kuala Lumpur. Since 1993, the Trustee has acquired experience in the administration of trusts and has been appointed as trustee for unit trust funds, exchange traded funds, wholesale funds and funds under private retirement scheme.

Funds outsourced to HSBC (Malaysia) Trustee Berhad;

• Principal Emerging Markets Multi Asset Fund (formerly known as CIMB-Principal Emerging Markets Multi Asset Fund)
• Principal US Mortgage Fund (formerly known as CIMB-Principal US Mortgage Fund)
• Principal Global Preferred Securities Fund (formerly known as CIMB-Principal Preferred Securities Fund)
• Principal China Multi Asset Income Fund (formerly known as CIMB-Principal China Multi Asset Income Fund)
• Principal Global Income Fund (formerly known as CIMB-Principal Global Income Fund) 
• Principal China Direct Opportunities Fund (formerly known as CIMB-Principal China Direct Opportunities Fund) 
• Principal World Selection Conservative Fund 
• Principal World Selection Moderate Conservative Fund 
• Principal World Selection Moderate Fund 
• Principal World Selection Moderate Aggressive Fund 
• Principal World Selection Aggressive Fund 
• Principal Islamic Global Sukuk Fund (formerly known as CIMB Islamic Global Sukuk Fund)