Kuala Lumpur: CIMB-Principal Asset Management Berhad received the Best Islamic Fund Award for the CIMB Islamic DALI Equity Growth Fund at the 3rd International Takaful Summit held in London recently. The Takaful Summit is a yearly event organised by the Middle East Business Forum. Winners are selected by evaluating the performance of funds over a period of 3 years (ending 2008) in which the CIMB Islamic DALI Equity Growth Fund achieved the best cumulative performance.

The CIMB Islamic DALI Equity Growth Fund, one of CIMB-Principal’s flagship funds, performed commendably with good capital preservation over the long term. The Fund is suitable for investors looking for a medium to long-term investment period and a diversified portfolio that adheres to Islamic principles.

Chief Executive Officer, CIMB-Principal Asset Management Berhad, J. Campbell Tupling said: “We are honoured to receive this recognition by the Middle East Business Forum for the Fund's consistent performance. The award is a testimony of CIMB-Principal’s consistent investment discipline for our fund portfolio, together with our investment team's hard work; we can produce better potential returns for our clients over the long term.”

The Fund, which was launched in May 1998, outperformed its benchmark, the FTSE Bursa Malaysia EMAS Shariah Index and as at 30 June 2009, the 3-year cumulative showed it out-performed the index by 20.06%. The Fund’s mainly bottom-up stock selection process is based on 3 criteria: improving fundamentals, attractive relative valuations and rising investor expectations.

Datuk Noripah Kamso, Chief Executive of CIMB-Principal Islamic Asset Management Sdn. Bhd., the fund’s sub-manager, said, “Despite the challenging economic environment, it is proven that investing in Shariah products is able to provide similar returns as that of conventional products. The continuous support shown has been a motivation for us to continue managing award-winning Islamic investment solutions”.

CIMB Islamic DALI Equity Growth Fund also won the Best Malaysian Equity Fund for a 3-year performance as at 31 December 2008 at the 4th Failaka Islamic Fund Awards.

Read articles below which appeared in major dailies:

» Top