Roles and Functions of the Board of Directors and Investment Committee:
The Board of Directors of the Manager is responsible for overseeing the activities of the Manager. The Investment Committee is responsible for formulating, implementing and monitoring the investment management policies of the Funds in accordance with its objectives and the provisions of the respective Deed. Board and Investment Committee meetings are held every three months.
Y.M. Dato' Tunku Ahmad Zahir bin Tunku Ibrahim
Non-Executive and Independent Director/Chairman
Y.M. Dato' Tunku has been a Director of the Company since 21 February 1997. After graduation in 1987, he joined KAF Astley & Pearce Sdn. Bhd. as a broker. In 1994, he joined PYEMAS Sdn. Bhd. as a Senior Manager until 1995 when he led a management buyout exercise of the company. He has significant experience in the trading of money market instruments such as MGS, Treasury bills, SWAP, IRS, Private Debts Securities (PDS), Cagamas Notes & Bonds and interbank money market. Y.M. Dato' Tunku is the Executive Chairman of First TAZ Capital Sdn. Bhd., Chairman of First TAZ Tradition Sdn. Bhd. and sits on the board of several private companies. He is active in the development of several property projects. Dato' Tunku holds a Bachelor of Arts degree in Economics from Carlton University in Ottawa, Canada.
Clement Chew Kuan Hock
Chief Executive Officer
Clement Chew joined the Company in December 2014. He worked for J.P. Morgan for 19 years and Merrill Lynch for 4 years. At J.P. Morgan, he was Chairman/Executive Director of J.P. Morgan Securities Malaysia Sdn Bhd (2005 to 2014), Senior Country Officer for Malaysia (2007 to 2010), non-independent director of J.P. Morgan Chase Bank Bhd (2008 to 2010) and head of Malaysia equity product (1998 to 2005). He started his career as an equities analyst at Merrill Lynch in 1991 before being transferred to New York in 1993 to cover Asia ex-Japan sales. Prior to joining the finance industry, Clement worked for IGB Corporation where his last position was corporate affairs manager. He holds a MSc in Management Science from Imperial College in London and a bachelor of economics (upper second honours) from La Trobe University in Melbourne. In 2018, Clement was appointed to the Board of Lembaga Totalisator Malaysia, a regulatory entity under the Ministry of Finance (MoF).
Wong Fay Lee
Non-Independent and Non-Executive Director
Wong Fay Lee is an Executive Director of MBMR and has been the Group General Counsel to MBM Resources Bhd. (MBMR) since 2011. She started her career in the corporate commercial and corporate finance practice of Mallesons Stephens Jaques in Sydney and later joined Mallesons practice in Singapore. Her former positions include Manager in the Research & Development Division (responsible for bond and derivatives markets) with the Malaysian Securities Commission, Chief Executive/Managing Director of Malaysia Derivatives Clearing House (now Bursa Malaysia Derivatives Berhad) and Adviser to the Clearing Division of the Hong Kong Exchanges and Clearing Limited. She was an Independent Director of KFH Asset Management Sdn. Bhd. from 2008 to 2014. She has a Bachelor's degree in Law from the University of Sydney and a Graduate Diploma in Applied Finance and Investments from the Securities Institute of Australia. She was admitted as a Solicitor to the NSW Supreme Court and the High Court of Malaya.
Azran bin Osman Rani
Non-Executive and Independent Director
Azran is an experienced entrepreneur and technology investor focusing on disruptive business models. He is currently the founder and CEO of Naluri, a digital health technology company that helps manage chronic disease risks by making health coaching more accessible, affordable, and convenient. He was previously the CEO of iflix Malaysia, an internet television company with a footprint across Asia, Middle East, and Africa. He was formerly the founding CEO of AirAsia X, that revolutionised long-haul low-cost air travel, where he led it from startup to IPO in six years. Prior to these roles, he was the Senior Director of Business Development of Astro, and Senior Vice President of Bursa Malaysia Berhad. He was also an Associate Partner of McKinsey & Company . He graduated from Stanford University with a Master's degree in Management Science & Engineering and a Bachelor of Science degree in Electrical Engineering. Azran is a Fellow of CPA Australia.
The Manager has a staff force of 26 employees as at 30 April 2019.
The qualifications and experience of the key management staff are as follows:
Clement Chew Kuan Hock
Chief Executive Officer
Clement Chew joined the Company in December 2014. He worked for J.P. Morgan for 19 years and Merrill Lynch for 4 years. At J.P. Morgan, he was Chairman/Executive Director of J.P. Morgan Securities Malaysia Sdn. Bhd. (2005 to 2014), Senior Country Officer for Malaysia (2007 to 2010), Non-independent director of J.P. Morgan Chase Bank Bhd. (2008 to 2010) and Head of Malaysia Equity Product (1998 to 2005). He started his career as an equities analyst at Merrill Lynch in 1991 before being transferred to New York in 1993 to cover Asia ex-Japan sales. Prior to joining the finance industry, Clement worked for IGB Corporation where his last position was Corporate Affairs Manager. He holds a MSc in Management Science from Imperial College in London and a Bachelor of Economics (Upper Second Honours) from La Trobe University in Melbourne.
Stephanie Claire Rodrigues
Stephanie Claire Rodrigues joined the company in May 2018, having served 8 years within the financial industry and capital market intermediaries. She is a graduate in law from the University of London (LLB) as well as a certified Compliance Officer having passed Module 9, 10 and 11 respectively with the Securities Commission. Her key functions include overseeing corporate compliance programs and function as a neutral body to review and evaluate compliance issues. Her function also includes acting as liaison between company and all Financial Regulators.
Steven Matthew B. Nambirajan
Steven joined the company in December 2015. Prior to this, he spent more than 8 years in banking and finance covering Back Office functions and Client Risk Management. He holds a Diploma In Business Studies (Accounting) from Tunku Abdul Rahman College (KTAR) and an International Executive Master In Business Administration (Strategic Management) from Paris Graduate School of Management (PGSM).
Roles and Responsibilities:
Apex Investment Services Berhad's fund managers are authorised to manage the Funds in accordance with the Funds' stated investment objective. This authority is subject to the requirements of this Master Prospectus, the respective Deeds, Guidelines and relevant laws, acceptable and efficacious business practice within the unit trust industry, the policies and internal controls in place of the Management Company. The fund managers will report to the investment committee of the Fund and will implement the investment strategies selected by this committee.
Head of Fund Management
Gary Lim has 20 years of experience in investments covering the Asia region. Prior to joining Apex Investment Services, he spent almost nine years at Absolute Asia Asset Management and four and a half years at Nomura Asset Management where he managed largely institutional money, both from American and European pensions. At Absolute Asia and Nomura, Gary has served in various research functions but largely with responsibilities for the North Asian Markets. At Absolute Asia, Gary was also involved in asset allocation while he was the Deputy Chairman of the Stock Selection Committee at Nomura. Prior to Nomura Asset Management, Gary was with OCBC Asset Management for five and a half years where he started off as an analyst covering the Asean markets before he progressed to become a fund manager with research responsibilities for North Asia. His previous experience includes working a year at Sun Hung Kai Securities as an investment analyst covering Singapore and Malaysia listed companies and two years with Neptune Orient Lines as a Corporate Planning Executive. He is also the designated fund manager for AAEJF, ADF, AQF, ADA, ADAS-I, ADAF-I and AMGT.
Gary graduated from The University of Michigan, Ann Arbor with a Bachelor in Business Administration degree majoring in Accounting & Finance. Gary has passed all three levels of the CFA Program.
Head of Fixed Income Investments
Kevin has over 17 years of experience in fixed income investments specializing in the domestic fixed income market. He started his career with KAF Investment Bank in 1997 as an analyst and later as a fixed income dealer where he focused on trading propriety fixed-income securities with emphasis on corporate bonds as well as assisting the sales and distribution team with pricing and distribution of primary issuances originated by the bank. In 1999, he joined Intrinsic Capital Management as a fixed income fund manager and was appointed as Executive Director of the firm from 2005 to 2009. He was responsible for the investment strategy and performance of the entire fixed income portfolio across both institutional and private client accounts covering a broad spectrum of the fixed-income market. He is a licensed fund manager and holds a Masters in Business Administration degree from Southern Cross University, Australia.
The role of a Shariah committee is to:
The Shariah committee meetings are held formally twice in a year, or more frequently if required to review on the Fund’s asset.
The number of funds in which it acts as adviser: 5 (as at 30 April 2018)
Prof. Madya Dr. Mohamad Sabri bin Haron
Chairman and Independent Member
Prof. Madya Dr. Mohamad Sabri bin Haron is a lecturer at the Pusat Citra Universiti, Universiti Kebangsaan Malaysia. He is also an Associate Senior Fellow at Institute of Malaysian and International Studies (IKMAS). He obtained a Diploma in Islamic Studies from Kolej Sultan Zainal Abidin in 1985 and Bachelor of Islamic Studies (al-Quran and al-Sunnah) from National University of Malaysia in 1988. He completed his Master of Comparative Law at International Islamic University of Malaysia in 1993. He succeeded in obtaining his Ph.D. in Islamic Law (Fiqh and Usul Fiqh) in 1998 from University of Jordan. His specialisation areas are in Islamic Economics and Islamic Civilisation. He also was seconded to the Securities Commission as the Senior Manager in Islamic Capital market starting from 1 June 2009 until 31 May 2010.
Dr. Ab. Halim bin Muhammad
Dr. Ab Halim bin Muhammad graduated in 1972 with a Bachelor's Degree of Shari'ah from Al-Azhar University, Cairo, Egypt and completed his studies in Ph. D. of Shari'ah at St. Andrew, Scotland University in 1977. He served as a lecturer and became the Head of Department of Quran & Sunnah, Faculty of Islamic Studies Universiti Kebangsaan Malaysia. Some of the subjects that he taught were Islamic Jurisprudence (Muamalat, Islamic Banking & Islamic Finance and Takaful), Principles of Islamic Jurisprudence and Islamic Criminal Laws. However, he has retired as a lecturer now. He used to be the first Chairman of Shariah Committee of BMMB prior to joining National Shariah Advisory Council of Bank Negara Malaysia in 2004. He was also a member of Shariah Committee of Securities Commission. He has been re-appointed as a member of the Bank's Shariah Committee since 30 November 2009.
Mohd Fadhly bin Md. Yusoff
Encik Mohd Fadhly Md. Yusoff (Encik Mohd Fadhly) has more than 13 years of experience in Islamic Capital Market during his tenure as manager with Islamic capital market department of Securities Commission Malaysia from 1995 to 2008. During this period, he was involved in Shariah compliance supervision in relation to submissions for the issuances of sukuk, structured products, collective investment schemes and Islamic REITs. In addition, he has also undertaken in-depth research for the development of new Islamic capital market instruments as well as providing technical inputs for the preparation of various guidelines issued by Securities Commission Malaysia. Currently, Encik Mohd Fadhly also serves as a member of Shariah committee of RHB Islamic Bank Berhad, Bank Pembangunan Malaysia Berhad, Sun Life Malaysia Takaful Bhd and Opus Asset Management Sdn Bhd. He has actively participated in various industry development initiatives namely the International Organization of Securities Commission (IOSCO) Task Force on Islamic Capital Market, Islamic Financial Services Board's (IFSB) Governance of Islamic Investment Funds Working Group, technical member for the publication of Resolutions of the Securities Commission Shariah Advisory Council and Islamic capital market educational and/or promotional programmes. He obtained his Bachelor of Shariah (1st Class Honours) from University of Malaya, Malaysia in 1995.
Maybank Trustees Berhad (5004-P) is the Trustee of the Fund with its registered office at 8th Floor, Menara Maybank, 100 Jalan Tun Perak, 50050 Kuala Lumpur.
Maybank Trustees Berhad (â€œMTBâ€) was incorporated on 12 April 1963 and registered as a Trust Company under the Trust Companies Act 1949 on 11 November 1963. It was one of the first local trust companies to provide trustee services with the objective of meeting the financial needs of both individual and corporate clients.
Experience in Trustee Business
Maybank Trustees Berhad has acquired experience in the administration of unit trust funds/ schemes since 1991.
CIMB Commerce Trustee Berhad was incorporated on 25 August 1994 and registered as a trust company under the Trust Companies Act, 1949 and having its registered office at Level 13, Menara CIMB, Jalan Stesen Sentral 2, Kuala Lumpur Sentral, 50470 Kuala Lumpur, Malaysia. The Trustee is qualified to act as a trustee for collective investment schemes approved under the Capital Markets and Services Act 2007.
Experience as Trustee to Unit Trust Funds
CIMB Commerce Trustee Berhad has been involved in unit trust industry as trustee since 1996. It acts as Trustee to various unit trust funds, real estate investment trust fund, wholesale funds and private retirement schemes.
Apex Investment Services Berhad (“AISB”) is committed to Compliance with the highest standards of ethics and integrity in all its business operations and expects that all its employees, officers and directors will comply with the word and spirit of every applicable law or regulation in the countries and localities in which we operate. AISB has a comprehensive Compliance Unit which has established robust Compliance program and designed to ensure that its employees are aware of and adhere to applicable laws and ethical standards.
The Compliance Officer of AISB:
Apex Investment Services Bhd's Internal Audit function is outsourced to Messers Moore Stephens Associate PLT ("Moore Stephens Malaysia"), an independent professional firm, which adopts the International Professional Practices Framework ("IPPF") in carrying out internal audit assignments on the company.
Moore Stephens is a global accountancy and advisory organization headquartered in London, United Kingdom, and has more than 650 offices in 106 countries, Malaysia being one of which.
Moore Stephens Malaysia offers a flexible and customized approach to the engagement based on client's requirements, and is well organized for keeping abreast of the rapidly changing business environment.
Having worked with businesses in different sectors, Moore Stephens Malaysia advises clients on their governance structure, providing a range of services designed to support them in maintaining a robust governance and assurance framework, as well as assisting on managing risks effectively whilst embedding transparency and accountability.
In addition to internal audit services, Moore Stephens Malaysia also provides the following professional services:-
⚬ Risk management framework development
⚬ Enterprise wide risk assessments
⚬ Risk and performance monitoring
⚬ Performance management
⚬ Succession planning Corporate governance 'health checks'
⚬ Business continuity planning
⚬ Crisis management planning