Ria Portfolio Performance – March 2026

Market volatility in March 2026 weighed on performance, particularly across equities. ASN Equity Global and ASN Equity Malaysia declined by -7.6% and -3.5%, respectively, while ASN Sukuk proved more defensive at -0.6%.

Consequently, portfolios with higher equity exposure experienced larger drawdowns, with Very Aggressive and Aggressive portfolios returning -5.3% and -4.5%, compared to a milder -0.8% decline for the Very Conservative portfolio. On a year-to-date basis, returns remained slightly negative across the board, ranging from -0.6% for Very Conservative to -1.4% for Very Aggressive portfolios, reflecting broadly challenging conditions across asset classes.

Since Ria’s launch, higher equity portfolios continue to lead in cumulative performance, with Aggressive and Very Aggressive portfolios delivering +12.8% and +11.8%, respectively. More conservative portfolios recorded steady gains, with the Very Conservative portfolio up +7.3% over the same period. Overall, outcomes remain aligned with risk profiles with conservative strategies provide stability during volatility, while growth-oriented portfolios offer stronger long-term return potential despite short-term fluctuations.

Chart 1: Ria Portfolios Since Inception (11 March 2024 – 31 March 2026) - Growth of RM10k

Market Commentary – March 2026

March 2026 saw broad-based weakness across global equity markets amid heightened volatility stemming from escalating Middle East tensions. US equities declined during the month, with the S&P 500 (SPX) falling 1.17% in MYR term, as geopolitical uncertainty weighed on investor sentiment, prompting risk-off positioning and increased market fluctuations. Global equities similarly weakened, with the MSCI World Index (MXWD) retreating 3.40% in MYR term. European markets underperformed notably in March. The UK’s FTSE 100 (UKX) declined 4.18%, while France’s CAC 40 fell 7.36% and Germany’s DAX dropped 8.88%, as concerns over potential energy supply disruptions, elevated commodity price volatility, and broader geopolitical risks weighed heavily on regional markets.

Chart 2: Performance of Global Equity Markets for March 2026 (%)

Asian equity markets largely weakened in March 2026 amid heightened volatility and a more cautious risk environment. Japan’s Nikkei (NKY) declined sharply, falling 10.83% in MYR terms, as risk-off sentiment, currency movements, and pressure on export‑oriented sectors weighed on performance. Hong Kong’s Hang Seng Index (HSI) retreated 3.13%, reflecting continued investor caution toward Greater China equities amid geopolitical uncertainty. Performance across Southeast Asia was mixed. Singapore’s STI was broadly flat, edging up 0.11%, supported by its defensive market composition. Thailand’s SET Index fell 5.21%, as rising global volatility and foreign fund outflows weighed on market sentiment. Malaysia’s FBMKLCI was relatively resilient, posting a gain of 0.80%, supported by defensive and dividend‑oriented stocks. Indonesia’s JCI underperformed regional peers, declining 11.25%, amid currency weakness and capital outflow concerns.

Chart 3: Performance of Asian Equity Markets for March 2026 (%)

Commodity markets exhibited sharp divergence and elevated volatility in March 2026 amid heightened geopolitical tensions, particularly in the Middle East. Precious metals retreated during the month, with gold declining 7.88% in MYR terms and silver falling a sharper 16.48%, as profit‑taking emerged following strong prior gains and risk sentiment fluctuated amid fast‑moving geopolitical developments. Energy markets moved in the opposite direction. Oil prices surged 68.93%, driven by escalating Middle East tensions that raised concerns over supply disruptions, shipping risks, and broader energy security, resulting in a sharp repricing of crude markets. In contrast to traditional commodities, digital assets rebounded. Bitcoin rose 7.48%, supported by a partial recovery in risk appetite and bargain hunting following earlier heavy losses, although volatility in the asset class remained elevated.

Chart 4: Commodities Performance in March 2026 – Oil and Bitcoin Rallies while Precious Metals Fall (in MYR terms, %)

March 2026 reinforced the importance of diversification across asset classes and geographies amid heightened geopolitical uncertainty. Escalating tensions in the Middle East drove elevated volatility and a broad risk‑off environment, weighing on global equities across both developed and emerging markets. Regional performances diverged meaningfully, underscoring how local fundamentals, defensive positioning, and market structure influenced resilience during periods of stress. Commodity markets highlighted the benefits of cross‑asset exposure, with sharp gains in energy contrasting against pullbacks in precious metals, while Bitcoin’s rebound illustrated the persistence of volatility within speculative asset classes. As 2026 progresses, maintaining a disciplined, diversified investment approach remains essential for navigating an increasingly complex and event‑driven global landscape.

RIA Reminder – Staying on Track in 2026

March 2026 was a challenging month in the markets. Rising global tensions led to more ups and downs, and many markets moved unpredictably. Some investments fell, others held up better, and overall market swings were more noticeable. Even so, Ria portfolios stayed on course because they are built to spread risk across different assets and regions.

Diversification helps reduce the impact when certain markets struggle. By not relying on just one market or asset, portfolios can better manage uncertainty while staying invested for the long term. This steady approach works quietly in the background, even during unsettled periods.

One simple way to keep building your investments is through Auto Labur. Once it is set up, your money continues to be invested regularly, whether markets are volatile or calm. This helps avoid the stress of trying to guess the right time to invest.

Take a moment to log in to Ria and review how your portfolio did in March. It may also be a good time to check whether your Auto Labur amount still suits your goals. Small, regular contributions made today can make a meaningful difference over time.