Summary

Amid heightened market volatility and cautious investor sentiment driven by external headwinds and geopolitical uncertainties, the local bourse weakened in October 2026, with the FBM KLCI and FBM Small Cap Index (FBMSCAP) declining by 2.2% and 2.5%, respectively, while the broader market recorded an average loss of 2.0%. Against this challenging backdrop, our Large-cap and Combined portfolios delivered positive returns of 1.8% and 2.0%, respectively, while our Small-cap portfolio limited its decline to just 0.5%, demonstrating resilience amid broader market weakness. Since inception, all three portfolios have comfortably outperformed the broader market benchmark's 8.7% return, with our Large-cap, Small-cap and Combined portfolios recording cumulative gains of 40.3%, 62.7% and 53.5%, respectively.

Factor strategy and performance

Our strategy integrates quality and momentum factors. The momentum score is derived from the price change over 6 and 12 months, while the quality scores result from a combination of financial ratios. Since the inception, most of the picks were able to deliver better results as compared to the average benchmark returns.

Added stocks: 99SMART, CARLSBG, GASMSIA, HEIM, HIBISCS, INNO, KOBAY, KPJ, MAXIS, MBMR, NESTLE, PMETAL, SCIENTX, STRATUS, SUNWAY, SWKPLNT, UCHITEC, WPRTS   

Removed stocks: BAUTO, CBHB, DUFU, EXSIMHB, HENGYUAN, ISF, KERJAYA, KGB, LAGENDA, LHI, LWSABAH, MI, MNHLDG, NATGATE, TMK, UMSINT, VITROX, VLB