The Shariah Adviser

General information of the Shariah Adviser

ZICO Shariah Advisory Services Sdn. Bhd (ZICO Shariah) is a member of ZICO Holdings and is registered with the Securities Commission Malaysia (SC) to advise on sukuk issuances, Islamic funds as well as other Islamic capital market products and instruments. It is also approved by the Bank Negara Malaysia to provide Shariah advice, Shariah review and Shariah audit services to Islamic financial institutions. ZICO Shariah has more than 15 years of Shariah advisory experience. As at 31 October 2024, Zico have 99 funds in which it acts as Shariah Adviser

Roles and responsibilities of the Shariah Adviser

As Shariah Adviser, ZICO Shariah will ensure the operations and investments of the Funds are in compliance with Shariah requirements. ZICO Shariah will review the Fund’s investments on a monthly basis to ensure adherence with Shariah requirements at all times.

In line with the SC Guidelines, the roles of ZICO Shariah as the Shariah Adviser are:

Ensuring that the operations and investments of the Funds are in compliance with Shariah principles/ requirements;
Providing expertise and guidance for the Funds in all matters from the perspective of Shariah principles, including on the Funds’ deed and prospectus/offering documents, its structure and investment process, and other operational and administrative matters;
Consulting the Securities Comission Malaysia (SC) who may consult the Shariah Advisory Council of the SC (SACSC) where there is any ambiguity or uncertainty as to an investment, instrument, system, procedure and/or process;
Scrutinising the Funds’ compliance reports as provided by the manager's compliance officer, transaction reports provided by or duly approved by the Trustee and any other report deemed necessary for the purpose of ensuring that the Funds’ investments are in line with the Shariah principles;
Preparing reports to be included in the Funds’ semi-annual and annual reports certifying whether the Funds have been managed and administered in accordance with the Shariah principles;
Ensuring that the Funds comply, with any guideline, ruling or decision issued by the SC, with regard to Shariah matters;
Vetting and advising on the promotional materials of the Funds;
Assisting and attending to any ad-hoc meeting called by the SC and/or any other relevant authority and;
Applying ijtihad (intellectual reasoning) to ensure all aspects relating to the operations and investments of the Funds are in compliance with Shariah, in the absence of any rulings, principles and concepts endorsed by the SACSC.

Profile of the Shariah team

Dr. Aida Othman

Dr. Aida Othman is a Chief Executive Officer of ZICO Shariah. Dr. Aida specializes in Islamic banking and finance, Islamic capital market instruments and takaful products and operations, as well as on Shariah compliance and governance, including on the legal and regulatory framework for Islamic finance. She also serves as a Shariah committee member at a few Islamic financial institutions.

Corporate Directory
ZICO Shariah Advisory Services Sdn Bhd 200701011429 (769433-D)

Registered Office and Business Address
Level 13A, Menara Milenium,
Jalan Damanlela,
Pusat Bandar Damansara,
50490 Kuala Lumpur.
Tel : 03-9212 0976
Fax : 03-9212 0974
Email : Zh-shariah@zishariah.com
Website: www.zico.group

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The above information has not been reviewed by the Securities Commission Malaysia (“SC”) and is subject to the relevant warning, disclaimer, qualification or terms and conditions stated herein. Investors are advised to read and understand the contents of the Master Prospectus dated 3 January 2023 and its First Supplemental Master Prospectus dated 20 October 2023; Master Prospectus dated 15 May 2023 and its First Supplemental Master Prospectus dated 20 October 2023; Prospectus dated 18 August 2022 and its First Supplemental Prospectus dated 30 December 2022; Prospectus dated 3 October 2023; Prospectus dated 19 June 2024; Prospectus dated 28 June 2024; Prospectus dated 10 September 2024; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 31 January 2022 and its Second Supplemental Information Memorandum dated 10 August 2023 and its Third Supplemental Information Memorandum dated 2 January 2024; Master Information Memorandum dated 26 November 2019; Information Memorandum dated 11 February 2020 and its First Supplemental Information Memorandum dated 13 September 2021 and its Second Supplemental Information Memorandum dated 31 January 2022 and its Third Supplemental Information Memorandum dated 21 August 2023 and its Fourth Supplemental Information Memorandum dated 2 January 2024; Information Memorandum dated 9 August 2021 and its First Supplemental Information Memorandum dated 10 August 2023 and its Second Supplemental Information Memorandum dated 2 January 2024; Information Memorandum dated 2 May 2023 and its First Supplemental Information Memorandum dated 2 January 2024; Information Memorandum dated 24 October 2024; Disclosure Document dated 14 February 2022 and its First Supplemental Disclosure Document dated 30 August 2023 for Manulife PRS NESTEGG Series; Disclosure Document dated 14 February 2022 and its First Supplemental Disclosure Document dated 30 August 2023 for Manulife Shariah PRS NESTEGG Series and all the respective Product Highlights Sheet(s) (collectively, the “Offering Documents”), obtainable at our offices or website, before investing. The Offering Documents have been registered with the SC, however the registration with the SC does not amount to nor indicate that the SC has recommended or endorsed the product. There are risks involved with investing in unit trust funds; wholesale funds and/or private retirement schemes. Some of these risks associated with investments in unit trust funds; wholesale funds and/or private retirement schemes are currency risk, country risk, credit and default risk, concentration risk, stock specific risk, reclassification of Shariah status risk, fund manager/ investment manager/target fund manager risk, liquidity risk and interest rate risk. For further details on the risk profile of all the funds, please refer to the Risk Factors section in the Offering Documents. The price of units and income distribution may go down as well as up. Investors should compare and consider the fees, charges and costs involved. Investors are advised to conduct own risk assessment and consult the professional advisers if in doubt on the action to be taken. Past performances are not an indication of future performances. Where a unit split/distribution is declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from the pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in the Fund’s denominated currency will remain unchanged after the distribution of the additional units. You are advised not to solely rely upon the ratings or rankings disclosed herein in making an investment decision. The ratings or rankings disclosed herein are current; the same may change in the future.

The Manager, Manulife Investment Management (M) Berhad Registration No: 200801033087 (834424-U) (hereinafter referred to as “Manulife IM (Malaysia)”) is a wholly owned subsidiary of Manulife Holdings Berhad and holds a Capital Markets Services License for fund management, dealing in securities restricted to unit trusts, dealing in private retirement schemes and financial planning under the Capital Markets and Services Act 2007. Manulife IM (Malaysia) operates under the brand name of Manulife Investment Management which is the global wealth and asset management segment of Manulife Financial Corporation.