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Capital Dynamics Sdn Bhd is the first independent investment adviser in Malaysia. It has been described as "one of the country's most iconoclastic and critical research outfits".

Since our inception in 1988, we have remained totally independent and have been providing objective advice on Stockmarkets and Economies through i Capital.

The i Capital newsletter is its flagship product. It has been around since 1989.

In 2002, www.icapital.biz, the online version of i Capital was launched.

In October 2005, icapital.biz Berhad, a RM140 million Close-End Fund was listed on the Main Board of Bursa Malaysia. This fund is managed by Capital Dynamics Asset Management Sdn Bhd and advised by Capital Dynamics Sdn Bhd.

In 2006, Capital Dynamics achieved a major milestone when it established Capital Dynamics (S) Pte Limited in Singapore, its platform for global investing. With this, it became the first Asian-owned fund manager to invest worldwide.

In July 2007, Capital Dynamics (S) Pte Ltd launched the i Capital Global Fund.

Capital Dynamics continues to expand with Capital Dynamics (Australia) Ltd incorporated in 2008. Also a global fund manager, it aims to provide investors with access to our proven investment success.

In July 2009, Capital Dynamics (Australia) Ltd launched the i Capital International Value Fund targeting at retail investors.

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Home > About Us > About i Capital > i Capital's Unique Sections
i Capital's Unique Sections   

SECTION A - Market Opinion
This section is based on a top-down/market-timing approach. In each issue of i Capital, Capital Dynamics will look at the major economic variables, locally and abroad, major equity markets plus some technical indicators before reaching its conclusion for the KLSE Composite index. In other words, Section A should be read in total.

SECTION B - Stock Selection
Stocks selected under this section are meant for medium and/or long-term investments. Capital Dynamics could use either a top-down/market-timing approach or a strictly bottom-up style or a combination of both when selecting stocks. When stocks are recommended under Section B, it does not mean that its price will take 1 or 2 years to move. If the price moves too fast, i Capital may recommend a sell. Or if it is still attractive after holding for a while and its price has gone up, we may still recommend holding or even buying more. Or if it declines, i Capital quotes Warren Buffett who was supposed to have said this : “If you aren’t prepared to see your stocks go down 50%, you shouldn’t own them. Be prepared for declines – and arrange your financial affairs such that you won’t have to sell out".

SECTION C - Capital Dynamics Portfolio
This section is based on a paper portfolio that is supervised by Capital Dynamics. Purchases/sales are based on the daily closing prices. The date of purchase and sale can be any day, any time. The objective of this portfolio is capital appreciation and the emphasis will be on medium and long-term investments. The investment approach used by Capital Dynamics is what we term as “intelligently eclectic”. There are no restrictions on the type of shares or stock exchanges that will be invested in. It started with RM 55,000 cash on 5 Sept 1991. The KLSE CI was 562.50 points.

SECTION C2 - i Capital Global
This global portfolio is supervised by Capital Dynamics. Purchases/sales are based on the daily closing prices. The date of purchase and sale can be any day. The objective of this portfolio is capital appreciation and the emphasis will be on medium and long-term investments. The investment approach used by Capital Dynamics is what we term as "intelligently eclectic". There are no restrictions on the type of shares or stock exchanges that will be invested in. It started with US$100,000,000 cash on 4 January 2007. The reporting currency will be US$.

SECTION D - The C D Timer
The objective of this portfolio is capital appreciation. The investment approach used by Capital Dynamics will be our own eclectic market timing. In terms of time, it lies somewhere between our Capital Dynamics Portfolio (Section C) and our Eclectic Trader (Section G). There are no restrictions on the type of shares or stock exchange that will be invested in. It started with RM 100,000 cash on 7 April 1994. The KLSE CI was 966.18 points. This paper portfolio is supervised by Capital Dynamics. Purchases /sales are based on daily closing prices. Purchases/sales can be made any day.

SECTION D2 - The 2nd Chance
The objective of this portfolio is capital recovery. In terms of time, we hope it would not take too long. The investment approach used by Capital Dynamics will be a mixture of our eclectic market timing and trading. There are no restrictions on the type of shares or stock exchange that will be invested in. Its funds will come from the sales of the dead ducks. The 1st part started with RM15,274.69 cash on 7th Dec 2000. The KLSE CI was 735.97 points. This paper portfolio is supervised by Capital Dynamics. Purchases /sales are based on daily closing prices. Purchases/sales can be made any day.

SECTION E - Updates
Part E1 of this Section updates our Stock Selections recommended in Section B. Part E2 updates our Trader's Portfolio in Section H.

SECTION F- Directors & Significant Shareholders
In USA, insider transactions, buying/selling by company officials or owners of 10% or more of its capital are reported to their SEC. The data are analysed and used as additional market indicators. While we do not have the exact version, following changes in directors and substantial shareholdings may reveal additional insight.

SECTION G - The Eclectic Trader
This section is an actual portfolio supervised by Capital Dynamics. There are actual trades with contracts. Purchase/sale can be made on any day. The objective of this portfolio is capital gains. The emphasis is on short-term trading. While the approach used will include technical analysis, we do not rely on them exclusively – it will be “intelligently eclectic”. There are no restrictions on the type of shares that will be invested in. We would try to hold at least 6 or more counters. But due to the relatively small sum, some counters may have higher weightings. Stop-loss or trailing-stop will be used. This portfolio started with RM50,000 cash on 1st Dec 1993. The KLSE CI was 1,015.42 points.

SECTION H - Trader's Portfolio
Shares selected under this section are based on chart/technical analysis and are meant for short-term traders. It is not intended for contra trading. Traders should note that in actual trading conditions, stop-loss targets may not be fulfilled. This section is not for the novice or the uninitiated. The arithmetic of trading or investing is not symmetrical. If you lose 50%, you need to make 100% to get back to the level of your original sum. i Capital quotes Paul Tudor Jones : “everything gets destroyed a hundred times faster than it is built up.” For new readers, please see our brief guides on technical analysis for explanation of stop-loss and trailing stop.

SECTION I - The Capital Dynamics' Treasures
This section updates the performance of the funds managed by Capital Dynamics group. Presently, this includes icapital.biz Berhad, a listed closed-end fund, i Capital Global Fund and i Capital International Value Fund, both open-end funds. For more information, send emails to cdam@cdam.biz, cdpl@icapital.biz or info@capitaldynamics.com.au. Monthly NAVs are published in www.icapital.biz.

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Section C :
Capital Dynamics Portfolio
Technical analysis :
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Section F feature :
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