5.5 Permitted Investments

Subject to any conditions stipulated by the SC, all Funds except for ASM Index may invest in the following investments:

a. securities listed on the Bursa Malaysia Berhad (BMB) or any other stock exchange approved by the Minister under the Securities Industry Act 1983 and any exempt stock exchange declared by the Minister under the Securities Industry Act 1983;   b. securities not listed for trading in a stock market of a stock exchange approved, or an exempt stock market declared by the Minister under the Securities Industry Act 1983, but have been approved for such listing and offered directly to the Fund by the issuer;    c. securities not listed for trading in a stock market of a stock exchange approved, or an exempt stock market declared by the Minister under the Securities Industry Act 1983, which are offered directly to the Fund by the issuer and fulfill all the conditions set out in the Guidelines of Unit Trust Funds;   d. Investment in foreign securities listed on the foreign stock exchange(s) subjects to the restrictions and rules imposed by Bank Negara Malaysia and/or SC.   e. investment in other collective schemes;    f. futures contracts traded in a futures market of an exchange company approved, or an exempt futures market declared, by the Minister under the Futures Industry Act, 1993 must be for hedging purpose only;     g. participation in the lending of securities within the meaning of the SC Guidelines of Securities Borrowing and Lending when permitted by the SC and other relevant authorities;    h. investment in an eligible money market (as defined in the Guidelines of Unit Trust Funds including investments in an eligible market for short-term papers such as Malaysian Government securities, treasury bills, negotiable instruments of deposit, repurchase agreements, Cagamas mortgage bonds, Bank Negara bills;    i. investments in an eligible over-the-counter private debt securities market (as defined in Guidelines of Unit Trust Funds);   j. securities that are traded in or under the rules of an eligible market which fulfill all the conditions set out in the Guidelines of Unit Trust Funds; and    k. liquid assets which include cash, deposits with licensed institutions and/or other institutions licensed or approved to accept deposits and any other instruments that can be converted into cash within seven (7) days as may be approved by the Trustee.

The Fund currently does not invest in unlisted securities (except entitlement received from listed companies in the existing portfolio), in overseas companies, collective investments (open/closed ended), securities lending, in the futures market and on the Malaysian Exchange of Securities Dealing and Automated Quotation (MESDAQ) during lifetime of this Master Prospectus.  Nevertheless, the Fund may invest in these securities in the near future.For Islamic Funds, the investments made by the Funds must conform with Syariah Principles which generally excludes conventional banking, insurance and financial institutions; gambling/gaming; alcoholic beverages; non-halal food products; interest-bearing money market instruments; and other securities or instruments as determined by the Syariah Committee.