Skip to content
Subscriber Only

Malaysia Top Funds Like Tech Stocks in Asia’s Worst Market

  • Eastspring, Kenanga boosted returns by buying tech shares
  • Malaysia’s stock index set for worst annual drop since 2008
Malaysia Shuts Some Schools as Haze Spreads to More Regions
Photographer: Samsul Said/Bloomberg
Updated on

The funds that won big from Asia’s worst-performing major equity market placed their bets on technology stocks.

Eastspring Investments Small Cap Fund scored a 16.6% return in 2019, while Kenanga Syariah Growth Fund returned 15.6%, topping the list of Malaysian funds with $100 million or more in assets, Bloomberg-compiled data show. That’s even as the benchmark FTSE Bursa Malaysia KLCI Index slumped 7.6%, set for the steepest drop since 2008. In contrast, the smaller cap gauge has rallied 22%.