TA vs AHAM Income Fund — Presentation

TA vs AHAM
Income Fund

Which fund fits your client's goal?

MYR Class & MYR-Hedged Class

Data as at latest published factsheets · Prepared 03 May 2026

What we'll cover

01 Fund at a Glance — what each fund does
02 The Verdict — different jobs, not competitors
03 Performance — who grew more
04 Income vs Growth — what you actually receive
05 Risk & Who It's For — matching to client profile

Fund at a Glance

TA Total Return Income Fund

TA Investment Mgmt · Fullerton external manager

Multi-asset: equity / bonds / commodities
Active discretionary — no benchmark
Total fund: RM 43 M
Min: RM 1,000 · Mgmt fee: 1.50%
Launch: Jan 2023

AHAM World Series — Income Fund

AHAM Asset Mgmt · Feeder into Franklin Income Fund

Bond-heavy: 45% bonds / 28% equity / 24% convertibles
Benchmark: 50% MSCI USA HDY + 25% Bloomberg Agg
Total fund: RM 3.26 B (75× larger)
Min: RM 30,000 · Mgmt fee: 1.80%
Morningstar: 5 stars

Different jobs.
Not competitors.

TA Total Return = capital growth with income exposure. Bigger swings, stronger returns. Best for clients who can wait and want their money to compound.

AHAM Income = monthly cashflow with stability. Consistent ~9% net distribution yield, very low NAV movement. Best for retirees and income-seekers who need predictable monthly cash.

TA Capital appreciation focus

AHAM Monthly cashflow focus

The numbers
(MYR-Hedged Class)

+23.5% TA — 1-Year Return

+43.8% TA — 3-Year Return

+9.7% AHAM — 1-Year Return

MYR-Hedged class strips USD/MYR noise — pure fund strategy return. TA data as 28-Feb-2026 · AHAM data as 30-Jan-2026.

Year by year

Period	TA MYR-H	AHAM MYR-H	TA leads by
1 Year	+23.53%	+9.70%	+13.8 pp
YTD 2026	+8.34%	+2.40%	+5.9 pp
2025 Calendar	+14.08%	+8.30%	+5.8 pp
2024 Calendar	+11.81%	+2.40%	+9.4 pp
Since Inception	+39.24%	+15.70%	+23.5 pp

TA has outperformed AHAM in every comparable period on a hedged basis. Hedge cost ≈ 1.5–2% p.a. already baked into these returns.

What does the
client actually receive?

TA — MYR-Hedged

Capital appreciation

No regular distribution on factsheet
NAV grew from RM 0.50 → RM 0.6962 (+39%)
Wealth compounds inside the fund
Client redeems to realise gains

AHAM — MYR-Hedged

Monthly cash in hand

2025: 3.96 sen/unit → ~9% yield
2024: 3.96 sen/unit → ~8.4% yield
Cash deposited monthly — no action needed
NAV stays relatively flat (income paid out)

How much does
the NAV swing?

9.7 TA — 3Y Volatility (Moderate)
52w drawdown ≈ −26% peak-to-trough

4.2 AHAM — 3Y Volatility (Very Low)
Much shallower swings, income-stable

If your client checks their portfolio weekly and calls you when it drops 10% — recommend AHAM. If they can look away for 12–18 months — TA's volatility is the price of its returns.

Who is it for?

Client profile	Recommend
Retiree needing monthly cashflow	AHAM MYR-H
Wealth builder — can wait 3–5 years	TA MYR-H
USD bullish — wants FX upside	Either MYR class
Small ticket RM 5K–25K	TA only (AHAM min RM 30K)
Large ticket RM 1M+ / institutional	AHAM MYR-H (RM 2.4B liquidity)
HNW wanting both income + growth	Both — complementary legs

The best portfolio
holds both.

AHAM MYR-Hedged = the income leg — think of it as a smarter private FD paying ~9% monthly, very stable NAV.

TA Total Return MYR-Hedged = the growth leg — geographically diversified multi-asset, +24% last 12 months, FX risk hedged away.

Together: income + growth, both FX-neutral, both in MYR.

Full data leave-behind → ta-vs-aham.print.html