Advisory Suite · Plan for ClientOctober 2, 2026

TA Total Return Income Fund vs AHAM World Series — Income Fund

Comparison study · MYR Class & MYR-Hedged Class · Data as latest published factsheets

Prepared: 03 May 2026

1. Fund Profile

Item	TA Total Return Income Fund	AHAM World Series — Income Fund
Manager	TA Investment Management Bhd	AHAM Asset Management Berhad (formerly Affin Hwang)
External / Target	Fullerton Fund Management (external mgr)	Franklin Income Fund — Franklin Advisers, Inc. (feeder)
Strategy	Multi-asset, actively managed for total return + income — flexible across equity / fixed income / commodities	Feeder fund into Franklin Income Fund — bond-heavy multi-asset, monthly income
Benchmark	None — actively managed total-return basis	50% MSCI USA HDY · 25% Bloomberg US Agg · 25% Bloomberg HY Very Liquid
Launch	11 January 2023 (~3.1 years)	09 May 2023 (~3.0 years)
Lipper / Morningstar	Lipper analytics (10 Feb 2026)	Morningstar Overall: 5 stars
Investment objective	"Generate regular income"	"Achieve capital appreciation and regular income over the medium-to-long term"

2. Total Fund Size — All Classes (RM equivalent)

Class	FX→MYR	TA class size	TA RM equiv	AHAM class size	AHAM RM equiv
MYR	1.0000	RM 8.51 M	8.51 M	RM 179.1 M	179.10 M
MYR Hedged	1.0000	RM 21.34 M	21.34 M	RM 2,376.2 M	2,376.20 M
USD	3.9620	USD 0.60 M	2.38 M	USD 77.8 M	308.24 M
SGD Hedged	3.1095	SGD 2.01 M	6.25 M	SGD 63.2 M	196.52 M
AUD Hedged	2.8417	AUD 1.69 M	4.80 M	AUD 69.8 M	198.35 M
TOTAL FUND			RM 43.28 M		RM 3,258.41 M

FX rates as at 05 May 2026 (Yahoo). AHAM total fund is ~75× the size of TA. TA factsheet AUM as 28-Feb-2026 · AHAM as 30-Jan-2026.

3. Volatility & Risk Rating (3-year, Lipper)

Class	TA 3Y Vol	TA Band	AHAM 3Y Vol	AHAM Band
MYR	10.4	High	6.9	Low
MYR Hedged	9.7	Moderate	4.2	Very Low
USD	10.4	High	7.0	Low
AUD Hedged	13.1	High	7.8	Moderate

Lipper bands: Very Low ≤4.245 · Low ≤7.795 · Moderate ≤10.235 · High ≤13.595. AHAM is structurally a much lower-volatility fund (bond-heavier mix).

4. Top-Line Verdict

Different jobs. TA Total Return is a capital-growth-with-income multi-asset fund — bigger swings, stronger 1Y/3Y returns. AHAM Income is a monthly-income-with-stability feeder into Franklin Income — steadier NAV, consistent ~9% net distribution yield, much larger institutional AUM. Pick TA for total-return seekers comfortable with equity volatility; pick AHAM for retirees/income-seekers who need predictable monthly cashflow.

Dimension	Better Fit	Notes
Capital growth (1Y & 3Y absolute return)	TA	TA MYR-H 1Y 23.5% vs AHAM MYR-H 9.7%
Predictable monthly income	AHAM	AHAM ~3.96 sen/yr (~9% yield) consistently
Lower NAV volatility	AHAM	3Y vol 4.2 vs 9.7 (MYR-H class)
Lower mgmt fee	TA	TA 1.50% p.a. vs AHAM 1.80% p.a.
Lower min investment	TA	TA RM 1,000 vs AHAM RM 30,000
Fund size / liquidity	AHAM	RM 3.26 B vs RM 43 M (~75× larger)
Geographic diversification	TA	TA: US 31%/Korea 14%/Germany 10%/HK-China 12%; AHAM ~all US

MYR Class — Deep Dive (Unhedged)

Investor takes both fund-strategy risk and USD/MYR currency risk

5. Cumulative Performance — MYR Class

Period	TA — MYR	AHAM — MYR	Difference
1 Month	+1.06%	−0.30%	+1.36 pp (TA)
1 Year	+10.64%	−1.20%	+11.84 pp (TA)
3 Years	+35.34%	— (under 3y)	—
YTD 2026	+4.46%	+1.50%	+2.96 pp (TA)
Since Inception	+35.96%	+4.20%	+31.76 pp (TA)

6. Distribution — MYR Class

TA — MYR Class

Total return focus

No distribution history on factsheet
NAV: RM 0.50 launch → RM 0.6798 (~+36%)
52w NAV: RM 0.5631 – RM 0.6833

AHAM — MYR Class

Monthly income

2025 net distribution: 3.96 sen · yield 9.1%
2024: 3.96 sen · yield 8.2%
2026 YTD: 0.33 sen (1 month, on track)

7. RM Talking Points — MYR Class

Client need	Recommend	Why
"I want monthly RM income"	AHAM MYR	3.96 sen/yr paid monthly; stable NAV
"I want to grow capital"	TA MYR	+35% since launch; multi-asset cushion
"I want USD upside via MYR"	Both	Both unhedged — benefit if USD strengthens
"Worried about USD/MYR loss"	Avoid both MYR	Use MYR-Hedged class instead

MYR-Hedged Class — Deep Dive

USD/MYR exposure stripped via FX forwards · investor only takes fund-strategy risk

8. Cumulative Performance — MYR-Hedged Class

Period	TA — MYR-H	AHAM — MYR-H	Difference
1 Month	+2.19%	+2.40%	+0.21 pp (AHAM)
1 Year	+23.53%	+9.70%	+13.83 pp (TA)
3 Years	+43.78%	— (under 3y)	—
YTD 2026	+8.34%	+2.40%	+5.94 pp (TA)
Since Inception	+39.24%	+15.70%	+23.54 pp (TA)

9. Hedging & Risk — MYR-H

Item	TA — MYR-H	AHAM — MYR-H
3Y volatility	9.7 (Moderate)	4.2 (Very Low)
52w NAV high	RM 0.6981 (26-Feb-2026)	—
52w NAV low	RM 0.5154 (08-Apr-2025)	—
Implied 52w drawdown	≈ −26% peak-to-trough	Materially shallower (4.2 vol)
Hedge cost	Both bear similar drag — USD/MYR forward points ≈ 1.5–2% p.a. (BNM 2.75% vs Fed ~4.5%)

10. Distribution — MYR-H Class

TA — MYR-H

No distribution on factsheet
Capital: RM 0.50 → RM 0.6962 (~+39%)
NAV swings sharply with global multi-asset moves

AHAM — MYR-H

2025: 3.96 sen · yield 8.7%
2024: 3.96 sen · yield 8.4%
Monthly cadence; very stable NAV

Holdings, Allocation & Final RM Playbook

11. Asset Allocation

Bucket	TA (28-Feb-2026)	AHAM Franklin (Dec-2025)
Equities	62.04%	28.30%
Fixed Income / Bonds	19.24%	45.00%
Convertibles / ELN	—	24.30%
Commodities	5.01%	—
Cash & Equivalents	13.70%	2.40%

TA = equity-tilted multi-asset with 5% commodity sleeve. AHAM = classic 45/28/24 income mix, fully invested.

12. Fees & Minimums

Item	TA Total Return Income	AHAM WS Income
Sales charge (max)	5.50%	5.50%
Annual Mgmt Fee (max)	1.50%	1.80%
Min initial — MYR / MYR-H	RM 1,000	RM 30,000
Min subsequent	RM 100	RM 10,000

13. Final RM Verdict

Pitch them as complementary, not competitors. A balanced HNW client can hold AHAM MYR-Hedged for the monthly cashflow leg (like a private FD with 8-9% yield + price stability) while parking growth capital in TA Total Return MYR-Hedged for the equity-multi-asset leg. They serve different jobs in the portfolio.

Client profile	Recommended	Pitch hook
Retiree / income-seeker / conservative	AHAM WS Income — MYR-H	"Monthly cashflow ~RM 0.0033/unit, ~9% yield, very low NAV swing — smarter FD"
Wealth-building / total-return seeker	TA Total Return — MYR-H	"+24% last 12 months, +44% over 3 years, geographically diversified, FX-stripped"
USD-bull / FX upside	Either MYR class	"Earns underlying return + USD-MYR upside if Fed pause holds"
Small ticket (RM 5K–25K)	TA only	AHAM min RM 30K; TA RM 1,000 entry to start
Institutional / large ticket (RM 1M+)	AHAM MYR-H	RM 2.4 B fund = institutional liquidity, easy large redemptions

14. WhatsApp-Ready Summary

TA Total Return Income vs AHAM World Series Income — quick read: 1. AHAM = monthly RM income (~9% yield), bond-heavy, very low NAV swing — for retirees / income clients 2. TA = total-return multi-asset, no regular distribution, +24% MYR-H 1Y but +/−25% NAV swings — for growth clients 3. Same sales charge (5.5% max); TA mgmt fee 1.5% vs AHAM 1.8%; TA min RM 1k vs AHAM RM 30k 4. Best practice: hold both — AHAM for income leg, TA for growth leg Reply for proposal on either / both.