MyETF MSCI Malaysia Islamic Dividend (MyETF-MMID)
The Fund's objective is to closely correspond to the performance of the Benchmark Index, regardless of its performance. The Fund Manager attempts to achieve an absolute value of tracking error of less than 3% between the net asset value (NAV) of the Fund and the Benchmark Index. Ordinary brokerage commissions may apply.
The Benchmark Index, namely the MSCI Malaysia IMI Islamic High Dividend Yield 10/40 Index is a free-float adjusted, market capitalisation weighted, price return index calculated, maintained and published by MSCI.
The Benchmark Index is designed as a performance benchmark for the high dividend-yielding segment of its Parent Index, the MSCI Malaysia IMI Islamic Index. The Benchmark Index may consist between 16 to 30 Shariah-compliant companies listed on Bursa Securities with higher than average dividend yield that are deemed both sustainable and persistent by MSCI.
The Parent Index is a free-float adjusted market capitalisation weighted index that is designed to measure the equity market performance of Malaysia.
The weight of any single group or entity in the Benchmark Index is capped at 10% of a fund’s total assets and the sum of the weights of all groups or entities representing more than 5% of the fund is capped at 40% of the fund’s total assets.
The Parent Index and Benchmark Index consist only of Shariah-compliant securities which are approved by the MSCI Shariah Supervisory Committee based on the MSCI Islamic Index Series Methodology. The MSCI Shariah Supervisory Committee will review and audit the Benchmark Index, the Parent Index as well as the MSCI Islamic Index Series Methodology on a regular basis to ensure compliance with Shariah.