AmanahRaya's fund management inefficient🤦‍♂️, in deficit from 2008 to 2019🚫

According to the Auditor-General's Report (LKAN) 2019 Series 1, AmanahRaya Bhd’s fund management was found to be inefficient as the fund had experienced a deficit from 2008 to 2019 〽

From the report, the current year's net income could not cover the total income distribution, and the investment performance of the Kumpulan Wang Bersama (KWB) was also inefficient.

AmanahRaya needs to depend on the government's guarantee for its inability to perform as a trustee to cover the KWB fund deficit of RM1.02 billion when there is a demand.

However, AmanahRaya has been making efforts towards the recovery of the KWB fund starting from 2019.

(Source: https://www.theedgemarkets.com/node/545330)