The Management Company
BIMB Investment Management Berhad (“BIMB Invest”) is a wholly-owned subsidiary of Bank Islam Malaysia Berhad. Licensed by the Securities Commission as an Islamic Fund Management Company, BIMB Invest was incorporated on 14 September 1993 and commenced its operations on 20 June 1994. BIMB Invest has been in the unit trust industry for over 22 years. It has an authorised capital of RM20 million and issued and paid up capital of RM15 million. As at 30 September 2016, BIMB Invest has a total fund size of RM968 million.
BIMB Investment currently manages seven (7) Shariah-compliant retail unit trust funds that offer various investment strategies for individual and corporate clients, namely BIMB i Growth, BIMB Dana Al-Fakhim, BIMB Dana Al-Munsif, BIMB Dana Al-Falah, BIMB i Dividend Fund, BIMB i Flexi Fund and BIMB-Araseque Malaysia Shariah-ESG Equity Fund and five (5) Shariah-compliant wholesale funds, namely BIMB Invest Money Market Fund, BIMB i Cash Management Fund, BIMB i Cash Management Fund 3 and, BIMB Invest Wafiyah for liquidity management purposes and BIMB-Arabesque i Global Dividend Fund 1.
The main responsibilities of BIMB Invest include:
♦ managing the investment portfolio of the Fund;
♦ arranging sales and redemption of Units;
♦ keeping proper records of the Fund and Unit Holders;
♦ issuing reports on the Fund‟s performance to Unit Holders;
♦ arranging distribution of income and/or Units to Unit Holders; and
♦ marketing the Units of the Fund to investors
Organisation Structure Of The Manager
The overall responsibility for the operation of BIMB Invest is vested with the chief executive officer who is accountable to the board of directors. While the board of directors primarily decides on policy matters, the investment committee assumes responsibility for assuming and monitoring the Fund‘s investment strategies. In ensuring the decisions of the board of directors and investment committee adhere strictly to the requirements of Shariah, all investment and activities of the Fund will be supervised by the Shariah Committee. The board of directors meets at least six (6) times a year to provide advice on matters relating to the Manager‘s operation and Fund‘s policies. Meanwhile, the investment committee also meets at least six (6) times a year to discuss, review, and advise on the investment strategies and asset allocation of the Fund.
The Shariah Committee will meet once every quarter to discuss Shariah related matters. The Shariah Committee will also monitor and advise on operational matters, investments transactions as well as the administrative matters of the Manager to ensure that all are in line with the Shariah principles
|Financial Year Ended 31 December (2013-2015)|
|Issued and paid up capital||15,000||15,000||15,000|
|Pretax & zakat profit / (loss)||1,565||522||143|
|After tax & zakat profit / (loss)||1,548||438||111|
Currently, BIMB Invest outsources its risk management and internal audit functions to Bank Islam Malaysia Berhad (Bank Islam).
The risk management function is outsourced to Risk Management Division (RMD) of Bank Islam. The operational risk management team of RMD consists of 13 staff and headed by a Deputy Chief Risk Officer. The roles and duties of RMD will include amongst others to continuously identifying, assessing and monitoring BIMB Invest’s risks, managing and monitoring risks assumed by BIMB Invest on behalf of its clients and recommending mitigation actions to address such risks to the Board of Directors of BIMB Invest.
The internal audit function is outsourced to the Internal Audit Division (IAD) of Bank Islam. The IAD team consists of 38 staff and headed by the Chief Internal Auditor. IAD undertakes the audit based on the Audit Plan approved by the Audit & Examination Committee (AEC) of Bank Islam. The Audit Plan that adopts a risk-based approach to audit, covers the review of adequacy of risk management and operational controls, compliance with laws and regulations, quality of assets and management efficacy. IAD will report to the Board of Directors of BIMB Invest or other relevant Board Committee of BIMB Invest.