Manulife Investment-CM Shariah Flexi Fund Report - March 2020

Transcription

1. Monthly Review March 2020 7 .2 moderate Manulife Investment-CM Shariah Flexi Fund 11 Feb 20 FUND REVIEW & STRATEGY FUND TYPE / CATEGORY Mixed Asset (Islamic) 10-YEAR PERFORMANCE AS AT 29 FEBRUARY 2020 * 120% 100% FUND OBJECTIVE To provide Unit Holders with long-term capital appreciation. 80% 60% 40% 20% 0% ‐20% Feb‐10 Sep‐10 Apr‐11 Nov‐11 Jun‐12 Jan‐13 Aug‐13 Mar‐14 Oct‐14 May‐15 Dec‐15 Jul‐16 Fund Benchmark INVESTOR PROFILE The Fund is suitable for investors who seek capital appreciation and are willing to accept high level of risk. The Fund is suitable for investors who seek investments which conform to the requirements of the Shariah, who do not seek a regular income stream and ideally have a long-term investment horizon. FUND MANAGER Principal Asset Management Berhad (formerly known as CIMB-Principal Asset Management Berhad) 199401018399 (304078-K) TRUSTEE Maybank Trustees Berhad 196301000109 (5004-P) FUND DETAILS (As At 29 February 2020) NAV/Unit RM 0.2264 Fund Size RM 126.51 mil Units In Circulation 558.75 mil 06 Nov 2007 Fund Launch Date 27 Nov 2007 Fund Inception Date 30 Nov Financial Year Currency Management Fee Trustee Fee RM Up to 1.5% of NAV p.a. Up to 0.08% of NAV p.a. or a minimum RM18,000 p.a. Sales Charge Redemption Charge Distribution Frequency Benchmark Up to 6.5% of NAV per unit Nil Incidental, if any 50% FTSE Bursa Malaysia Emas Shariah Index + 50% CIMB Bank 12-month Fixed Return Income Account-i (FRIA-i) rate Feb‐17 Sep‐17 Apr‐18 Nov‐18 Jun‐19 Jan‐20 In view of the rising market risk premium, we downgraded Malaysia to Neutral. As for portfolio strategy, we will be tilting our barbell approach from growth bias to capital preservation bias. We will maintain our high asset allocation strategy but will lower the beta range. Sector in focus will be on those with defensive and high yielding qualities such as Utilities, Telecommunication, Consumer and REITs. TOTAL RETURN OVER THE FOLLOWING PERIODS ENDED 29 FEBRUARY 2020 * Fund Class RM (%) Benchmark in RM (%) 1-Month 6-Month YTD 1-Year 3-Year 5-Year 10-Year -3.54 -1.75 -1.79 -2.59 -5.67 -3.25 3.46 -1.05 9.96 -0.33 7.79 0.23 90.52 34.16 2018 -7.60 -5.26 2019 11.64 3.56 CALENDAR YEAR RETURNS * 2015 2016 2017 3.05 -4.38 15.72 Fund Class RM (%) 3.00 -1.49 6.89 Benchmark in RM (%) *Source: Lipper; Past performance is not necessarily indicative of future performance. The performance is calculated on NAV-to-NAV basis. TOP 5 HOLDINGS No. 1 2 3 4 5 ASSET/ SECTOR ALLOCATION % NAV 9.2 5.2 4.7 4.4 4.2 Security Name TENAGA NASIONAL BHD IHH HEALTHCARE BHD SIME DARBY PLANTATION BHD AXIATA GROUP BHD DIALOG GROUP BHD HIGHEST & LOWEST NAV 2017 0.2605 0.2298 High Low 2018 0.2663 0.2203 2019 0.2484 0.2213 No. 1 2 3 4 5 6 7 8 9 10 Asset/ Sector Name PLANTATIONS TELECOMM & MEDIA IND PROD & SERV UTILITIES ENERGY CONSTRUCTION HEALTH CARE CONSUMER PROD & SERV CASH EQUIVALENT OTHERS % NAV 13.7 13.2 10.2 10.1 9.9 9.7 8.6 6.9 6.2 11.6 COUNTRY/ TERRITORY ALLOCATION DISTRIBUTION BY FINANCIAL YEAR Distribution (Sen) Distribution Yield (%) 2017 0.90 3.7 2018 1.30 5.2 2019 1.00 4.2 No. Country Name 1 MALAYSIA 2 CASH EQUIVALENT % NAV 93.8 6.2 Based on the Fund's portfolio returns as at 31 Jan 2020 the Volatility Factor (VF) for the Fund (RM Class) is as indicated in the table above and are classified as in the table (source: Lipper). "Very High" includes Funds with VF that are above 11.065, "High" includes Funds with VF that are above 8.810 but not more than 11.065, "Moderate" includes Funds with VF that are above 6.110 but not more than 8.810, "Low" includes Funds with VF that are above 1.755 but not more than 6.110 and "Very Low" includes Funds with VF that are above 0.000 but not more than 1.755 (source:FiMM). The VF means there is a possibility for the Funds in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified Funds. VF is subject to monthly revision and VC will be revised every six months. The Fund's portfolio may have changed since this date and there is no guarantee that the Funds will continue to have the same VF or VC in the future. Presently, only Funds launched in the market for at least 36 months will display the VF and its VC. Investors are advised to read and understand the contents of the Master Prospectus dated 7 February 2020 for 23 Funds (collectively, the “Offering Documents”), obtainable at our offices, before investing. The Offering Document has been registered with the Securities Commission Malaysia who takes no responsibility for its contents. Investors should consider the fees and charges involved. The price of units and income distribution may go down as well as up. Past performances of the Funds are not an indication of the Funds' future performances. Where a unit split/distribution is declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from the pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in the Fund’s denominated currency will remain unchanged after the distribution of the additional units. Units will only be issued on receipt of the completed application form referred to and accompanying the Offering Document. There are risks involved with investing in unit trust funds; wholesale funds and/or Private Retirement Schemes. Some of these risks associated with investments in unit trust funds; wholesale funds and/or Private Retirement Schemes are interest rate fluctuation risk, foreign exchange or currency risk, country risk, political risk, credit risk, non-compliance risk, counterparty risk, target fund manager risk, liquidity risk and interest rate risk. For further details on the risk profile of all the funds, please refer to the Risk Factors section in the Offering Document. Investors are also advised to read and understand the contents of the “Unit Trust Loan Financing Disclosure Statement” before deciding to obtain loan financing to purchase units of the Funds. All fees and charges (e.g. sales charge, switching fee, transfer fee, management fee, trustee fee and any other relevant fee(s) and/or charge(s)), where applicable, may be subject to tax that may be introduced by the Government of Malaysia from time to time, at the prevailing rate. The Manager, the Trustee and/or other services provider reserves the right to collect from you and/or the fund an amount equivalent to the prevailing rate of tax payable for all fees and charges, where applicable. Your obligation to pay any applicable taxes shall form part of the Terms and Conditions.