MALAYSIA: Kenanga Investors has launched the Emergency Waqf Musa’adah Fund, which will assign a portion of returns to those affected by climate-related disasters, a statement confirmed. The fourth product launched under the Kenanga Sustainability Series and its second Waqf-featured fund following the Waqf Al-Ihsan fund launched in April 2021, the new fund is a result of Kenanga Investors’s collaborative efforts with Yayasan Waqaf Malaysia (YWM) and Match Foundation (MATCH).
Kenanga Investors signed an MoU with YWM and MATCH in November 2021, which appointed it as the fund manager of funds received from institutional investors as well as an initial seed funding of RM3 million (US$642,333) allocated in Budget 2022 as part of the government’s efforts to create a national Waqf fund specifically to assist those affected by climate change-related disasters or future pandemics.