At the end of Q1, 3% out of the whole Y42 Funds is comprised of Malaysian equities (traded through Bursa Malaysia, MYX). The S11 Fund (stands for Consumer S taples), which makes up 29.6% of Y42, has been rebalancing out its remaining MYX portfolio over the last 1 year, substituted by better performing ETFs and stocks primarily listed on HKEx and SGX. The rebalancing is largely logical given MYX has underperformed the broader market in the last 5 years. However, the stock picks have more to be blamed for the overall performance (-11.6%, with currency effect included). With these pandemic-accelerated exits, the H11 Fund maintains at a CAGR of 18.9% (since 2010) and S11 Fund at 1.56% (since 2016).