KUALA LUMPUR: CIMB-Principal Asset Management Bhd (CIMB-Principal) recently won the Most Innovative Award for Investor Education by a monthly publication, Asia Asset Management.

The “Best of The Best Regional Award” was to recognise the company’s exceptional education initiatives in 2008 to create awareness amongst investors on unit trust investments, it said in a statement issued on March 27.

CIMB-Principal’s initiatives which enabled it to win the award was the commissioning of an in-depth market audit of the Malaysian unit trust industry and the public perception of the industry.

The survey had two key variables – the sales approach by the investment agent and the investor’s lack of understanding of the perspective and benefits of long-term investing.

The survey resulted in a greater understanding of the investing behaviour of Malaysians nationwide, which benefited industry players in meeting the needs of their investors.

CEO of CIMB-Principal J. Campbell Tupling said it was a great honour to be recognised by Asia Asset Management in this category.

“We have always made it our duty to continuously educate our investors regardless of the economic condition, helping them to better understand investment concepts thus making the best decisions for their portfolios.”

Based on the results of the audit, CIMB-Principal refocused all training of its unit trust agencies and bank affiliates’ sales force to emphasise on an asset allocation approach combined with a regular investment savings habit.

This approach was adopted by many investors and success was attained and measured when there was an increase in investors utilising their EPF Members Investment Scheme for unit trust investments.  

In 2008, 50% of total sales by the CIMB Wealth Advisors unit trust consultant sales force were generated via the EPF Members Investment Scheme.

This was a significant increase of 18% year-on-year, from the previous year’s 32% mark.

On the bank affiliate side, training campaigns were launched to train investment salespeople on an asset allocation approach.

On the other hand, CIMB Islamic Group Asset Management also received an award for Islamic Fund House of the Year for Malaysia in the Best of the Best Country Awards category.

Asia Asset Management focuses on the institutional fund markets in the Asia Pacific region. Its annual awards recognise top performers in the region’s asset management industry.

Its Investor Education award recognises the company’s initiatives for retail and institutional investors in the Asia-Pacific region.