Global mandate, Asia lens for TA Investment Management’s Shariah fund

Navigating the volatile macroeconomic environment post-pandemic has proven to be beneficial for Malaysia’s TA Investment Management, adopting a growth-oriented Shariah portfolio comprising of “our highest-conviction ideas from across global markets”.

This strategy can be seen in the TA Global Absolute Alpha-i Fund – which applies a framework that places emphasis on risk awareness, flexibility and bottom-up analysis, rather than close alignment with benchmark composition, a company representative explained.

“While it has a global mandate, it is differentiated by an Asia lens, enabling a more holistic and contextual approach to investing” since this fund was launched on the 17^th March 2022. "The benchmark-agnostic framework and flexibility to adjust cash levels provide an additional lever to manage drawdown risk, which is especially relevant in a volatile macroeconomic environment.”

Day-to-day investment decisions are led by Singapore-based Fullerton Fund Management, while TA Investment Management provides local oversight within a Shariah compliant mandate. This structure separates portfolio decision-making from governance, with an emphasis on consistency in risk assessment.

With portfolio implementation being relatively concentrated, typically comprising 30 to 40 global Shariah compliant equities, stock selection prioritizes companies with established business models and financial characteristics.

This has influenced how longer-term developments such as supply-chain reconfiguration, trade fragmentation and regional economic realignment are incorporated into company analysis, with greater weight placed on structural factors than on short-term macro signals. 

“We were able to capture broad investment themes including AI and re-globalization, with conviction, allowing us to ride through tariff-related market volatility. The broadening of the market beyond AI capex and power-related data center holdings created alpha opportunities that were captured by the fund and enhanced investment returns.”

This approach has received industry recognition – where in the IFN Investor Fund Awards 2025, the TA Global Absolute Alpha-i Fund was recognized across several categories:

• IFN Investor Best Balanced Equities Fund in Malaysia - MYR 2025 (TA Global Absolute Alpha-i Fund - MYR Hedged Class)
• IFN Investor Best Balanced Equities Fund in Malaysia - USD 2025 (TA Global Absolute Alpha-i Fund - USD Class)
• IFN Investor Best Balanced Equities Fund in Asia Pacific 2025 (TA Global Absolute Alpha-i Fund - MYR Hedged Class)
• IFN Investor Best Global Balanced Equities Fund 2025 (TA Global Absolute Alpha-i Fund - MYR Hedged Class)

The outlook for global equities is described as cautiously constructive. "Fundamentally, we are seeing a positive convergence in global earnings growth globally. In the US, this is being driven by AI-led productivity gains and improvements in corporate profitability. Navigating potential AI-related valuation risks will be a key priority in 2026 as valuations become increasingly stretched.”

Geopolitical developments including US-China trade tensions and the conflict in Ukraine, remain potential sources of volatility, reinforcing the importance of flexibility and ongoing risk assessment. “We remain mindful of the need to stay prepared for unforeseen events that could result in significant drawdowns across risk assets.”