Affin Pheim Group is a leading independent fund manager dedicated to protecting and growing wealth for institutions, corporations and individuals across ASEAN.
Affin Pheim Asset Management Sdn Bhd was established in 1994. Built on a foundation of rigorous fundamental research and independent thinking, Affin Pheim has grown into a trusted name across institutional and retail fund management.
In 2026, Affin Pheim became part of the Affin Bank Group — combining a boutique investment heritage with the strength of one of Malaysia's leading banking institutions.
From a boutique value-investing firm to a diversified asset manager under Affin Bank Group — each milestone reflects our commitment to excellence.
As a member of Affin Bank Group, Affin Pheim Asset Management operates within a robust governance framework spanning the entire group structure.
Corporate structure as at 2026 — Affin Bank Berhad wholly owns Affin Pheim Asset Management, which wholly owns Affin Pheim Islamic Asset Management and Affin Pheim Unit Trusts.
Click here to know more about Affin Pheim Islamic Asset Management
Affin Pheim Unit Trusts Berhad launched in January 2002 — and within its very first full calendar year, all three of its inaugural unit trust funds won both the Edge-Lipper and Star/S&P Fund Awards. That early validation set the tone for two decades of consistent recognition that followed.
Dana Makmur Pheim (DMP) in particular has become one of the most decorated funds in Malaysian history, earning the Asia Asset Management "Best of Best Country Malaysia" award seven years in succession from 2018 to 2024.
Every major milestone, award win and industry recognition since Affin Pheim Unit Trusts launched in 2002.
A three-year overview of key financial measures for Affin Pheim Unit Trusts Berhad.
| Financial Year End | 31/12/2023 (RM'000) | 31/12/2024 (RM'000) | 31/12/2025 (RM'000) |
|---|---|---|---|
| Paid-up Share Capital | 12,000 | 12,000 | 12,000 |
| Shareholders' Funds | 14,808 | 14,866 | 13,904 |
| Revenue | 6,223 | 5,436 | 3,909 |
| Profit Before Tax | 990 | 864 | -222 |
| Profit After Tax | 737 | 658 | -361 |
Source: Affin Pheim Unit Trusts Berhad audited financial statements.
Our Board brings together senior leaders from banking, investment management, corporate finance and Islamic finance, providing independent oversight and strategic guidance.
Datuk Hamirullah brings close to four decades of banking and financial-services experience, including senior leadership of Maybank's consumer and SME banking franchise. His expertise spans retail and SME banking, wealth management, Islamic finance, digital transformation, risk governance and sustainability.
Mr. Lee brings more than 30 years of financial-services experience, including senior corporate banking roles at CIMB Group. His expertise covers investment banking, corporate finance, M&A, capital markets advisory, credit risk, regulatory compliance and cross-border governance across ASEAN.
Dato' Paduka Syed Mashafuddin is Chief Executive Officer of AFFIN Islamic Bank Berhad and has extensive experience in Islamic banking, asset management, investment banking, corporate finance and sustainable finance. His previous leadership roles include Principal Islamic Asset Management and CIMB Investment Bank.
Mr. Lee also serves as Chief Executive Officer and Chief Investment Officer of Affin Pheim Asset Management. He brings more than 10 years of experience across equity research, portfolio management, unit trusts, insurance-linked funds, EPF accounts and private mandates.
Dato' Azlan serves as Independent Chairman of Affin Pheim Islamic Asset Management, providing independent leadership and governance oversight to the Board.
Encik Zainal Arifin serves as an Independent Director of Affin Pheim Islamic Asset Management, contributing objective oversight and independent judgement to the Board.
YBhg. Datuk Dr. Mohd Syukri serves as a Non-Independent Director of Affin Pheim Islamic Asset Management, supporting the Board's strategic direction and governance responsibilities.
Encik Ahmad Subri is Chief Executive Officer of Affin Pheim Islamic Asset Management and brings more than 40 years of insurance, reinsurance and financial-services experience across Malaysia, Singapore and England. He has served as a chief executive for more than 20 years.
Mr. Lee serves as Independent Chairman of Affin Pheim Unit Trusts Berhad, providing independent leadership, strategic guidance and governance oversight to the Board.
Encik Zainal Arifin serves as an Independent Director of Affin Pheim Unit Trusts Berhad, contributing objective judgement and governance oversight in the interests of unit holders.
Mr. Calvin Goon serves as a Non-Independent Director of Affin Pheim Unit Trusts Berhad, supporting alignment between the company’s strategic direction, governance responsibilities and operational priorities.
Mr. Lee has more than 10 years of capital markets and fund management experience across equity research, portfolio management, unit trusts, insurance-linked funds, EPF accounts and private mandates. Before his current appointment, he managed funds at Manulife Investment Management and previously served Affin Pheim as an Investment Analyst and Fund Manager. He is a CFA charterholder and holds a BE in Mechanical Engineering from UTM.
Mr. Teh Yin Han is a treasury and fixed income professional with over 36 years of experience in banking and investment management. His expertise covers funding and liquidity management, asset-liability management, and fixed income portfolio management. As Head of Fixed Income & Credit Investment, Group Treasury at Affin Bank, he leads bond portfolios for Affin Bank Berhad, Affin Islamic Bank Berhad and Affin Hwang Investment Bank. He has been seconded to Affin Pheim Asset Management Sdn Bhd to help set up the fixed income department. He holds a Bachelor of Economics (Hons), University Kebangsaan Malaysia.
Elyzza, Head of Fixed Income at Affin Pheim Asset Management, brings 17 years of expertise in managing domestic and global fixed income portfolios. She previously served as Head of Sukuk at Principal Islamic Asset Management, where she was also the designated portfolio manager for Global Sukuk mandates. Earlier, she was Head of Fixed Income at Libra Invest Berhad (now part of Kenanga Investors Berhad). She holds a BSc. in Actuarial Science (Distinction) from the University of Illinois, Urbana-Champaign.
Managing Director of Efficient Frontier Capital Advisors Sdn Bhd, a financial planning advisory company licensed by the SC. She holds a BA in Accounting and Computing from the University of Kent and is a CFP, RFP and Shariah RFP. Previously an investment analyst, fund manager and CIO at leading Malaysian houses. Appointed 1 April 2008.
Currently attached to a family office. Previously Operations and Compliance / System Coordinator at KAF Fund Management (1997–2005), Investment Analyst at Affin Pheim Asset Management (1994–1997), and Senior Operation Executive at Public Finance Berhad. BSc Business Administration (Finance), University of Tulsa. Appointed 19 January 2022.
Chief Executive Officer of LB Aluminium Berhad and a member of MICPA. Previously with Kassim Chan & Co, Arab-Malaysian Securities, and General Manager, Corporate Finance at Arab-Malaysian Merchant Bank (now AmInvestment Bank Berhad). Appointed 7 March 2014.
Bachelor of Accounting, University of Malaya. From 1989 to 1999 he was Senior General Manager, Finance of the Multi-Purpose Holdings Berhad Group, overseeing finance, accounts, investments and investor relations. Appointed 2 January 2002.
Our senior management brings decades of combined experience in capital markets, fund management, compliance and operations.
Mr. Lee has more than 10 years of capital markets and fund management experience across equity research, portfolio management, unit trusts, insurance-linked funds, EPF accounts and private mandates. Before his current appointment, he managed funds at Manulife Investment Management and previously served Affin Pheim as an Investment Analyst and Fund Manager.
Joanne oversees financial reporting, financial governance, internal audit and management reporting. She previously served with PwC Malaysia and brings experience in audit, financial analysis and corporate reporting.
Rabi'atul-'Adawiyah leads people strategy, employee engagement, talent initiatives and organisational effectiveness. Her financial-services background includes human resources and transformation roles with AmBank Group, RHB Investment and Maybank.
Ahmad Fadzlan oversees IT strategy and planning, technology infrastructure, systems reliability and operational support. His experience spans technology delivery and IT management at Bank Islam, Telekom Malaysia and KPMG Malaysia.
Ms. Hanny Yap Shook Han is the Head of Product and Business Development of Affin Pheim Asset Management Sdn Bhd. She has more than 25 years of experience in investment management, wealth management, institutional advisory and capital markets. Prior to joining AFFIN, she held senior leadership positions with CGS International Wealth Management Malaysia and Principal Asset Management Berhad, focusing on wealth strategy, product & business development and corporate strategy. Ms. Hanny also served as an Investment Consultant with Mercer, advising sovereign funds, pension funds, institutional investors and government agencies across Southeast Asia on investment strategy, asset allocation and fund manager selection. She holds a Bachelor of Commerce from the University of Melbourne and is a Chartered Financial Analyst (CFA) charterholder.
Mr. Geoffrey Teoh Kay Lueng is the Chief Compliance Officer of Affin Pheim Asset Management Sdn Bhd. He has more than 20 years of experience in the banking and financial services industry, primarily in managing regulatory compliance, anti-money laundering and internal audit, at both local and foreign banks. Prior to his current appointment, he held senior compliance roles at Hong Leong Investment Bank and Sumitomo Mitsui Banking Corporation Malaysia, where he managed, amongst others, the compliance monitoring and reporting, regulatory advisory, and AML functions. He holds a Bachelor of Commerce in Accounting from Curtin University of Technology, Australia and a Bachelor of Business in Finance from La Trobe University, Australia. He also holds the ICA’s Advance Certification in Regulatory Compliance and Certification in AML/CFT.
Mr. Muhammad Hafiz Mad Hassim is the Chief Internal Auditor of Affin Pheim Asset Management Sdn Bhd, providing independent assurance on the firm’s governance, risk management and internal controls. He brings over a decade of experience across financial services and capital markets. Prior to AFFIN, he held two roles at Maybank Group, first as Audit Director, Group Internal Audit for Investment Banking covering local and regional entities, and subsequently as Head of Business Performance within the Securities Solutions business. Earlier in his career, he was an Investigating Officer with the Securities Commission Malaysia Enforcement Division and began at PricewaterhouseCoopers in the Financial Services Industry audit practice. He is a Fellow Chartered Certified Accountant (FCCA), Chartered Accountant of Malaysia (CA(M)), and Certified Fraud Examiner (CFE).
Mr. Adrian Shee Siew Kee is the Chief Risk Officer of Affin Pheim Asset Management Sdn Bhd. He has over 25 years of experience in banking and financial services, with strong expertise in wholesale banking, treasury and risk management. Prior to his current role, he held senior risk leadership positions at CIMB, Maybank and AFFIN. He holds a Bachelor of Engineering in Electrical and Electronic Engineering from University of Manchester Institute of Science and Technology (UMIST), United Kingdom and is a Chartered Financial Analyst (CFA) Charterholder.
Puan Nimma Safira Binti Khalid is the Company Secretary of Affin Pheim Asset Management Sdn Bhd. She joined Affin Bank Berhad in 2001 as Manager, Legal & Secretarial and was subsequently assigned to the President / CEO’s office as the Executive Assistant from 2003 to 2005. She started her career of 20 years as an Advocate & Solicitor of the High Court of Malaya in 1994, then moved in-house as Legal Officer / Company Secretary of a commercial bank from 1995 to 2000. She graduated with Bachelor of Laws in 1992 and Bachelor of Laws (Shariah) in 1993, both from the International Islamic University, Malaysia.
Khafidzah has more than 20 years of experience in financial services, banking and capital markets. She leads end-to-end portfolio operations, coordinating teams and processes to maintain accuracy, efficiency, compliance, scalability and client service across asset classes.
Ahmad Izzudeen has more than 10 years of capital markets experience spanning trade execution, central dealing and compliance. His operational background supports a strong understanding of market fundamentals and regulatory requirements, complemented by postgraduate training in Islamic finance.
Encik Ahmad Subri brings more than 40 years of insurance, reinsurance and financial-services experience across Malaysia, Singapore and England, including over 20 years as a chief executive. He has also served as a director and adviser to public and private companies in Malaysia and Singapore.
Ahmad Izzudeen has more than 10 years of capital markets experience spanning trade execution, central dealing and compliance. His practical industry experience and Islamic finance training support his role in maintaining strong regulatory and Shariah-compliance standards.
Mr. Leong is a seasoned executive with more than 30 years of leadership experience across financial services, capital markets and investment management. His career spans fund management, investment banking, corporate finance, cross-border investments, regulatory licensing and strategic finance.
Mr. Lee has more than 18 years of financial and capital markets operations experience across insurance services, stockbroking, investment banking and custodian banking. He previously led local and global custody operations at Deutsche Bank Malaysia, covering markets across APAC, EMEA and the Americas.
Ahmad Izzudeen has more than 10 years of capital markets experience spanning trade execution, central dealing and compliance. His practical market experience, actuarial background and postgraduate Islamic finance training support his compliance responsibilities.
AFFIN PHEIM's investment philosophy is built on rigorous research, independent thinking and a disciplined approach to portfolio management. Through changing market cycles, we remain focused on identifying quality investment opportunities, managing risk prudently and creating sustainable long-term value for investors.
Every investment decision is underpinned by in-depth analysis, fundamental research and a clear understanding of long-term value drivers.
We focus on opportunities supported by strong business fundamentals and sustainable growth potential rather than short-term market movements.
Careful portfolio construction, diversification and ongoing monitoring form the foundation of our investment approach.
We seek companies that demonstrate a combination of quantitative and qualitative strengths. As markets display greater cyclicality and price volatility, we believe an active asset allocation strategy can add substantial value.
Companies with capable, transparent management that holds significant equity interest and demonstrates strong corporate governance.
High margins, dominant market position, pricing power, and consistent earnings growth with low debt-equity gearing ratios.
Low price-earnings ratio and/or low price-to-book ratio relative to underlying intrinsic value, with strong balance sheet and cash flow.
Affin Pheim Unit Trusts Berhad has appointed Affin Pheim Asset Management Sdn Bhd and Affin Pheim Islamic Asset Management Sdn Bhd as external investment managers, both holders of the Capital Markets Services Licence as approved by the Securities Commission Malaysia.
| The Manager | Affin Pheim Unit Trusts Berhad (200101010163 (545919-A)) |
|---|---|
Total Value of Funds : RM149M+ (As of 31st August 2026) |
Affin Pheim Asset Management |
Total Value of Funds : RM6M+ (As of 31st August 2026) |
Affin Pheim Islamic Asset Management |
In addition, the compliance and risk management functions of Affin Pheim Unit Trusts and Affin Pheim Islamic Asset Management, have been delegated to the Affin Pheim Asset Management.
Independent oversight supporting the protection of investors' interests and the Shariah compliance of our Islamic investment solutions.
Maybank Trustees Berhad (MTB) is a trustee company incorporated in 1963 and is one of Malaysia's earliest local trust companies providing trustee services. With over 30 years of experience in administering unit trust funds since 1991, MTB acts as an independent trustee responsible for safeguarding fund assets and protecting the interests of unit holders. As trustee, MTB oversees the fund's operations to ensure compliance with the Deed, regulatory requirements, and relevant laws, while holding the fund assets on behalf of investors.
Amanie Advisors Sdn Bhd (“Amanie”) is the appointed Shariah Adviser for Affin Pheim Unit Trusts Berhad’s Islamic funds. Amanie is a leading Shariah advisory firm specialising in Islamic finance solutions, serving institutional and corporate clients across the Islamic financial services industry. Amanie provides comprehensive Shariah advisory and consultancy services, supported by strong training, research, and development capabilities. The firm is a registered Shariah advisory company for Islamic capital market products and services with the Securities Commission Malaysia (“SC”).
Established to meet the growing global demand for proactive and practical Shariah expertise, Amanie partners with industry participants to support the structuring, implementation, and ongoing management of Shariah-compliant financial products and services. Its advisory approach emphasises end-to-end Shariah governance, ensuring continuous compliance in line with evolving regulatory and market expectations.
Amanie is supported by a dedicated team of full-time, experienced Shariah consultants with industry experience across Islamic banking, capital markets, asset management, takaful, fintech, and regulatory advisory. This expertise is further strengthened by rigorous training and mentorship under renowned Shariah scholars. Amanie meets with the Manager on a quarterly basis to address Shariah advisory matters pertaining to the Fund and conducts a monthly review of the Fund’s investments to ensure continuous compliance with Shariah principles. Amanie Advisors has over one hundred and fifty (150) funds for which it acts as Shariah Adviser.
Dr. Shamsiah Mohamad is a distinguished Shariah scholar and a retired public servant with an extensive career in academia and regulatory advisory. Formerly a Senior Researcher at the International Shariah Research Academy for Islamic Finance (ISRA) (2013–2019), she also held tenure at the University of Malaya’s Academy of Islamic Studies, serving as a Lecturer (1999–2003) and subsequently as an Associate Professor (2003–2013). She holds a Bachelor’s and Master’s degree in Shariah from the University of Malaya and a PhD from the University of Jordan.
Dr. Shamsiah currently holds several high-level advisory positions, including Member, Shariah Committee for Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) (since 2009); Member, Shariah Advisory Committee for Lembaga Zakat Selangor (since 2012); Member, Shariah Advisory Committee for Bank Islam Malaysia Berhad (BIMB) and MNRB Holdings Bhd (since 2020); Member, Shariah Committee for National Farmers’ Organization (NAFAS) (since 2013) and Member of its Risk Management Committee (since 2021); and Member, TH-JAKIM Hajj Advisory Committee (AJPIH) (since 2014).
Her regulatory footprint includes senior roles within Malaysia’s primary financial authorities: Shariah Advisory Council Member for Securities Commission Malaysia (2008–2023), Shariah Advisory Council Member for Bank Negara Malaysia (2013–2019), Shariah Expert (Seconded) for Islamic Capital Market Department, Securities Commission Malaysia (2005–2008), Shariah Committee Member for Bursa Malaysia (2012–2022) and Shariah Expert Panel for JAKIM (2013–2018). Additionally, she has served on the Shariah committees of various financial institutions, including SME Bank, Standard Chartered Saadiq Berhad, Bank Muamalat Malaysia Berhad, Takaful Ikhlas Sdn Bhd, BIMB Investment, and BIMB Securities.
Ahmad Anas Fadzil is a registered Shariah Advisor and Officer with the Securities Commission of Malaysia and a Director with Amanie Advisors. He is also a professional accountant. Based at the Head Office in Kuala Lumpur, his primary focus is on advising and consulting clients from Islamic financial institutions, regulators and corporations on Shariah-compliant products, instruments and other services, as well as on their strategic and corporate issues.
Prior to joining Amanie Advisors, he was attached with Sigur Ros, a global Malaysian-based company, for the Turkiye Government’s Turkish Republic North Cyprus Water Supply project, where he was assigned as the Project Accountant based in Turkiye overseeing project finance, cost budgeting, cost management, reporting, and other administrative matters including liaison with the local tax authority and administrative bodies.
Prior to that, he was an external auditor with Messrs. Ernst & Young in Kuala Lumpur, attached to the Global Financial Services department, performing audit work for financial institutions including Permodalan Nasional Berhad (PNB), Malayan Banking Berhad (Maybank), EXIM Bank Berhad, Bank of Tokyo-Mitsubishi and Malaysian Electronic Payment Systems (MEPS).
He holds Certified Sharia’ Adviser and Auditor (CSAA) and Certified Islamic Public Accountant (CIPA) qualifications from AAOIFI, Bahrain, as well as a Master of Islamic Finance (MSc) from INCEIF. He is also an accounting graduate from Universiti Teknologi MARA (UiTM) and holds an Executive Diploma in Shariah from the University of Malaya Centre for Continuing Education (UMCCed). He speaks Bahasa Melayu, English, Arabic and Turkish.
Ahmad Faizul Rizal is an Associate Director at Amanie Advisors (Head Office) and a Registered Shariah Adviser with the Securities Commission Malaysia. He holds a Bachelor’s Degree in Shariah (Islamic Banking and Economics) from Yarmouk University, Jordan.
Prior to joining Amanie Advisors, he began his career as a trainee under the Islamic Capital Market Graduate Trainee Scheme organised by the Securities Industry Development Corporation (SIDC), the training and development arm of the Securities Commission Malaysia. He subsequently passed the SC Licensing Examination, namely Module 6 (Stock Market & Securities Laws) and Module 7 (Financial Statement Analysis & Asset Valuation).
He later joined Kenanga Investment Bank Berhad as a Senior Associate in the Credit Equity Broking Department, where he was responsible for the Share Margin Financing division and related activities, including stockbroking operations. He is also currently undergoing the professional Certified Shariah Adviser certification under the Association of Shariah Advisors in Islamic Finance (ASAS). He speaks Bahasa Melayu, English and Arabic.
