Malaysia’s Kenanga Investors has emerged as one of the standout winners at Asia Asset Management’s Best of the Best Awards 2026, highlighting its evolution into a diversified asset manager with strength across equities, retail and impact investing.
The firm won seven awards: Best Impact Investing Manager in ASEAN, Best Impact Investing (Malaysia), Best Equity Manager (Malaysia), Best Alternatives Manager (Malaysia), Best ESG Engagement Initiative (Malaysia), CEO of the Year and CIO of the Year.
The wins reflect a strategy that blends disciplined investment processes with product expansion and a deepening commitment to sustainability, even as markets remain volatile. As of December 31 last year, the firm manages 40 unit trust funds, two private retirement schemes, two exchange-traded funds, 20 wholesale funds and other funds from government agencies, pension funds, insurance, corporations and individual clients with total assets under administration amounting to 24.6 billion ringgit (US$6.29 billion). Ismitz Matthew De Alwis, winner of the CEO of the Year (Malaysia) award, says the firm’s growth stems from a deliberate shift over the past decade. “Over the years, we have transformed from an institutionally focused manager into a multi-segment fund house, with a balanced mix of retail and institutional clients,” he says. Since taking the helm in 2015, De Alwis has expanded Kenanga Investors’ offerings from traditional unit trust funds and private retirement schemes to ETFs and wholesale funds, alongside alternative strategies such as structured debt and private equity. A key performance driver has been the firm’s equity franchise, which accounts for nearly half of total AUA – a positioning that differentiates it from peers more heavily weighted towards lower-yield money market funds. Despite a challenging domestic market, the firm’s funds have consistently outperformed benchmarks, supported by global diversification and bottom-up stock selection. Lee Sook Yee, Kenanga Investors’ chief investment officer, says the firm’s long-standing philosophy remains central to its results. “Our approach is anchored on disciplined bottom-up stock picking, focusing on companies that are undervalued relative to their intrinsic worth,” she said. “This allows us to deliver consistent outperformance over a three- to five-year investment cycle. This is supported by a strict risk management framework focused on sector diversification, prudent buffers, and incremental rebalancing.” Beyond institutional mandates, the firm continues to deepen its product strength through flagship equity strategies that have delivered consistent outperformance across market cycles. Funds such as the Kenanga Growth Fund and Kenanga Growth Fund Series 2 have also received industry recognition through the years, supported by a disciplined bottom-up approach and focus on high-growth Malaysian companies. De Alwis says these investments are necessary to strengthen long-term competitiveness. “We continue to invest in our people, processes and digital capabilities to ensure we remain competitive and deliver sustainable value to our clients,” he says. Another defining pillar is its push into environmental, social and governance (ESG) and impact investing, with sustainability integrated across its investment process. The firm has embedded ESG key performance indicators across senior management and expanded screening to include fixed-income instruments such as bonds and sukuk (Islamic bonds). It has also introduced climate scenario analysis to assess portfolio resilience against physical and transition risks. “ESG considerations are fully embedded into our investment process, from risk assessment to portfolio construction, ensuring that we deliver both financial returns and positive long-term outcomes,” Lee said. Kenanga Investors has also taken a more active role in stewardship, engaging with around 40 companies in 2025 on issues ranging from climate risk to disaster preparedness. A notable focus has been on the environmental impact of data centres, particularly as Malaysia emerges as a regional hub for such investments. At the industry level, it has contributed to a collaborative proxy-voting framework under the Institutional Investors Council, aimed at strengthening corporate governance standards. Looking ahead, the firm sees impact investing as a key growth area, particularly in Southeast Asia. “Impact investing is purpose-driven, targeting measurable positive outcomes while delivering sustainable returns,” De Alwis said. With a combination of investment discipline, product innovation and ESG integration, Kenanga Investors’ Best of the Best wins highlight a firm positioning itself for both market cycles and longer-term structural shifts in asset management. *Benchmarks:
Equity edge through discipline and diversification
Scaling retail and digital capabilities
Embedding ESG into investment core
Active stewardship and industry role
Positioning for long-term growth
FTSE Bursa Malaysia KLCI (FBM KLCI)
8% growth in NAV per annum (compounded*) over 5 yearsDisclaimer: Investors are advised to read and understand the Master Prospectuses (“MPs”), the Supplemental Master Prospectus (“SMP”) (if any), and Product Highlights Sheets (“PHS”) as well as consider the fees, charges and risk factors involved before investing. The MP, SMP (if any), and PHS have been registered and/or lodged with the Securities Commission Malaysia (“SC”), who takes no responsibility for its contents and related advertisement or marketing materials, does not indicate that the SC has recommended or endorsed the product/service. The advertisement has not been reviewed by the SC. Investors have the right to request for a copy of PHS and other relevant product disclosure documents which are available at our office, at any authorised distributors and our corporate website before making investment decisions. If you are in doubt when considering the investment or any of the information provided, you are advised to consult a professional adviser. A Fund’s track record does not guarantee its future performance. Kenanga Investors Berhad is committed to prevent conflict of interest between its various businesses and activities and between its clients/director/shareholders and employees by having in place procedures and measures for identifying and properly managing any apparent, potential and perceived conflict of interest by making disclosures to Clients, where appropriate. Kenanga Investors Berhad 199501024358 (353563-P).
