Following up on my previous analysis of my ASNB RIA investment, I am documenting the performance of my portfolio for the month of May 2026. Consistent tracking helps me assess how the portfolio asset allocation handles ongoing macro volatility and systemic global shifts.
May 2026 Performance Overview
Throughout May 2026, the portfolio demonstrated steady upward momentum despite a highly complex geopolitical backdrop. The total account value reached RM 2,157.05, reflecting a total return of +RM 157.10 (7.28%).
While an aggressive portfolio remains vulnerable to sharp short-term market swings, the current trajectory matches the long-term capital appreciation objectives expected of a high-equity strategy.
Asset Allocation Breakdown
The portfolio remains heavily weighted toward global and local equities to capture aggressive equity risk premiums.
The current distribution of funds stands as follows:
- ASN Equity Global (53%): RM 1,139.94
- ASN Equity Malaysia (34%): RM 742.55
- ASN Sukuk (12%): RM 253.48
- MYR Cash (1%): RM 21.08
More than 85% of the capital is directly exposed to global and local stock markets. The remaining 13% allocated to fixed income (ASN Sukuk) and cash balances out the overall volatility, providing a minor buffer.
Market Context: Navigating the 2026 Iran-US Conflict & The AI Surge
Understanding the performance of a high-exposure equity portfolio requires looking at the global macroeconomic forces that shaped May 2026. This month was defined by two opposing forces: intense geopolitical shocks and an unprecedented technology-driven earnings boom.
1. The Geopolitical Headwind: The Iran-US Conflict
The ongoing Iran-US conflict and the resulting tensions surrounding the Strait of Hormuz remained a massive systemic threat to the global economy. With energy supply chains under pressure, Brent Crude experienced significant volatility throughout the month.
The uncertainty in energy supply chains has triggered structural cost concerns—driving up global industrial commodity costs and forcing central banks to balance the need to combat energy-driven inflation while maintaining economic growth.
Typically, a geopolitical conflict of this scale would induce a severe global market sell-off. However, the equity portion of the portfolio managed to remain resilient due to two countervailing buffers:
- The AI and Semiconductor Mega-Theme: Global equity indices largely shrugged off the energy crisis, propelled by massive hyperscaler capex and robust Q1 2026 corporate earnings. Companies embedded in the AI hardware supply chain saw phenomenal gains, lifting the ASN Equity Global portion of the portfolio.
- Malaysia’s Net-Exporter Resilience: Domestically, the FBM KLCI maintained steady structural support. As a net energy exporter, Malaysia’s economy partially benefited from the elevated commodity and crude oil prices. Furthermore, the local market has been insulated by significant domestic data center investments, pushing local construction and technology equities to multi-year highs.
Moving Forward
As I continue to iterate on my personal finance workflows alongside my ongoing engineering and software side ventures, maintaining a systematic investment routine remains key. Smaller, automated monthly deployments help smooth out the price actions brought on by the volatile geopolitical environment.
Start Your ASNB RIA Journey
If you want to automate your investments across global and local Shariah-compliant funds using ASNB’s Robo-Investment Advisor, you can check out my referral details below:
👉 Get Started: Sign up or learn more using my ASNB RIA Referral Link.
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