Partners

Khairi Shahrin Arief bin Baki
Chief Executive Officer / Non-Independent Executive Director, i-VCAP Management Sdn. Bhd.

Khairi Shahrin was appointed as CEO of i-VCAP Management Sdn. Bhd. (“i-VCAP”) in January 2018 and bringing with him 14 years of experience in the capital market industry.

Khairi Shahrin began his career with OSK Investment Bank in 2003 and later held various positions at various institutions which include Maybank Investment Bank, JP Morgan Securities and Citigroup Global Markets. He subsequently served as Senior Director & Head of Equity Dealing, MIDF Amanah Investment Bank prior to his appointment as CEO of i-VCAP.

En Khairi holds Bachelor of Business Administration from Universiti Putra Malaysia and Diploma in Investment Analysis from the Research Institute of Investment Analysts Malaysia (RIIAM).

Syed Mukhrim Syed Mahadzir
Compliance Officer, i-VCAP Management Sdn. Bhd.

Syed Mukhrim has been registered with the Securities Commission Malaysia as the designated Compliance Officer for i-VCAP Management Sdn. Bhd. since 15 May 2019.

Syed Mukhrim joined VCAP Asset Managers Sdn. Bhd. (“VCAM”) as Head, Compliance on 9th July 2018, bringing with him more than 10 years of experience as a compliance specialist in the financial services industry. At VCAM, he is responsible for overall regulatory supervision and compliance to regulatory requirements.

He began his career at Maybank as a Risk & Compliance Executive before moving to RHB Investment Management Sdn. Bhd. as Compliance Officer, where within 2 years he assumed the role of Acting Head, Compliance. Before joining VCAM, he spent more than 5 years as the Head of Compliance at Muamalat Invest Sdn. Bhd., an Islamic fund management company.

Throughout his career, he has worked in both the conventional and Islamic financial sectors, with extensive experience in the fund management industry covering a diverse range of products including portfolio management, wholesale funds, unit trusts, and private retirement schemes (“PRS”).

Syed Mukhrim holds a Bachelor’s Degree in Electrical & Electronics Engineering from Universiti Tenaga Nasional. He is registered with the Securities Commission Malaysia as the designated Compliance Officer for VCAM.

Total number of funds & AUM
As at 31 December 2018 total number of funds managed by the Management Company is 10 and the Asset Under Management (“AUM”) stood at RM989 million.

Summary of Management Company’s financial position

The Manager entered into agreement with its parent company, ValueCAP Sdn. Bhd. (“ValueCAP”) to provide service for its corporate secretarial function effective 1 June 2019.

ValueCAP was incorporated on 16th October 2002 as an investment holding company principally involved in investments in listed securities on Bursa Malaysia Securities Berhad. ValueCAP is equally-owned by Khazanah Nasional Berhad, Kumpulan Wang Persaraan (Diperbadankan), and Permodalan Nasional Berhad.

Meanwhile the Manager has also entered into agreement with its company, VCAP Asset Managers Sdn. Bhd. (“VCAM”) as service provider to undertake certain functions of the Manager effective 1 June 2019.

The functions that had been delegated by the Manager to VCAM comprised the following:

1. Management Accounting
2. Fund Accounting (for segregated mandate and wholesale fund)
3. Trade Settlement
4. Information Technology
5. Compliance
6. Risk Management
7. Legal
8. Sales & Marketing
9. Portfolio Research
10. Macro, Credit and Forex Research
11. Human Resource Administration (sub-contact to the Boardroom)

VCAM was incorporated on 11 December 2013 and is a holder of the Capital Markets Services Licence (“CMSL”) issued by the Securities Commission Malaysia (“SC”) under the Capital Markets and Services Act 2007. VCAM is a wholly owned subsidiary of ValueCAP.

VCAM has subcontracted the Human Resource Services to the Boardroom Business Solutions Sdn Bhd to handle the Group payroll, claim and leave management. Boardroom Limited, listed on the main board of the Singapore Exchange, is one of Asia Pacific's leading business service providers. Headquartered in Singapore, they have established operations in Malaysia, China, Hong Kong and Australia. They provide professional services in corporate secretarial, share registration, directors' training, accounting, payroll, tax and business advisory to a large client base of public-listed, private companies and multi-national corporations.

The roles and duties of the service provider.

1. The Service Provider shall provide the Client the agreed Services in accordance with the terms and conditions of the SLA.
2. The Service Provider shall perform the Services with reasonable care and skill and deliver the Services in accordance with the Service Level Objectives
3. The Service Provider shall ensure adequate resources and expertise to provide the Services efficiently at all times
4. The Service Provider shall submit such regular or other reports, including on performance, as may be required by the Client
5. The Service Provider shall maintain accurate and updated relevant information, books, records and documents for the time period

Fund Accounting function – All ETFs except MyETF-US50

The Manager had appointed Deutsche Trustee Malaysia Berhad (“DTMB”) for fund accounting and administration functions for MyETF series, except for the MyETF-US50.

The fund accounting and administration services function delegated to DTMB include:

1. maintaining financial accounting records of portfolio including all transactions data, records and investment ledgers;
2. recording of corporate actions;
3. performing cash and securities reconciliation with financial institutions and custodian records;
4. performing valuation of the investments and the Fund;
5. provision of a reporting package that includes statement of assets and liabilities, statement of income and expenditure, portfolio valuation report and transaction schedules;
6. providing relevant information to facilitate the preparation of statistical returns for submission to regulatory bodies; and
7. submitting accounts or accounting records to the appointed external auditor and providing relevant information for disclosure in the annual financial statements, whenever applicable.

DTMB was incorporated in 22 February 2007. It main roles is providing trustee services for Unit Trust Funds, restricted investment schemes, exchange-traded funds, trust funds and bonds and acting as a trust company.

Fund Accounting function (MyETF-US50 only)

The Manager had appointed Citibank N.A Singapore Branch (“Citibank”) for fund accounting and administration functions for MyETF-US50.

The fund accounting and administration services function delegated to Citibank to include:

1. maintaining financial accounting records of portfolio including all transactions data, records and investment ledgers;
2. recording of corporate actions;
3. performing cash and securities reconciliation with financial institutions and custodian records;
4. performing valuation of the investments and the Fund;
5. provision of a reporting package that includes statement of assets and liabilities, statement of income and expenditure, portfolio valuation report and transaction schedules;
6. providing relevant information to facilitate the preparation of statistical returns for submission to regulatory bodies; and
7. submitting accounts or accounting records to the appointed external auditor and providing relevant information for disclosure in the annual financial statements, whenever applicable.

Citibank is registered as a foreign company with the Singapore Accounting and Corporate Regulatory Authority (ACRA) on 6 January 1927 with place of origin being the United States of America. Citibank is principally involved in banking.

Registrar function

The Manager has on 13 January 2009 appointed Boardroom Share Registrars Sdn Bhd (“Boardroom”) (formerly known as Symphony Share Registrars Sdn Bhd) to undertake the registrar function of all of its current and future funds. The outsourcing arrangement was approved by the SC on 27 February 2009. Boardroom was incorporated in Malaysia on 7 March 1996.

The registrar functions delegated by the Manager to the Registrar comprised the following:

1. (a) maintenance of the principal register and keeping the same updated in compliance with the CMSA and the Central Depositories Act;
2. maintaining of records, books and documents for the time period;
3. attending to relevant correspondences and enquiries from Unit Holders and any other parties pertaining to the principal;
4. acting as advisor to the Manager on all matters in relation to Bursa Depository or Central Depositories Act and be the official link between Bursa Depository and the Manager;
5. performing registration formalities on consolidation and splitting of unit certificates received from Bursa Depository;
6. preparing, verifying and despatching of distribution cheques and statements, and reconciling and submitting the distribution accounts to the Registrar of Unclaimed Moneys in accordance with the Unclaimed Moneys Act 1965;
7. mailing of notices, circulars and annual/interim reports and documents to Unit Holders;
8. liaising with Bursa Depository to facilitate access to the Record of Depositors, statistics for Unit Holders’ information preparing for and handling the registration for Unit Holders’ meeting