OPUS Shariah Dynamic Income Fund Report - March 2022

Transcription

1. OPUS SHARIAH DYNAMIC INCOME FUND (OPUS SDIF) 4.7 Low Performance Data & Analytics as at 31 March 2022 28 Feb 22 FUND OBJECTIVE To achieve higher returns than 12-Month Fixed Islamic Deposit Rate over the medium to long term, while preserving capital and providing opportunity for income. FUND INFORMATION Fund Inception 10 Aug 2015 Trustee Deutsche Trustees Malaysia Berhad Financial Year End 30 June Fund Type / Category Income and Growth / Fixed Income Fund Currency Ringgit Malaysia Benchmark Maybank 12-Month Islamic Fixed Deposit Rate NAV per Unit RM0.9569 Fund Size RM158.83 million FEES, CHARGES AND EXPENSES Management Fee Trustee Fee Sales Charge Redemption Price Date Redemption Payment Period Up to 1.00% per annum of the NAV of the Fund Up to 0.05% per annum of the NAV of the Fund, subject to a minimum of RM 12,000 p.a Up to 2.00% of the NAV per unit T + 4 business day if redemption notice received by 4.00pm Within 10 business days TRANSACTION DETAILS Minimum Initial Investment RM50,000 Minimum Additional Investment RM10,000 Source: Opus Asset Management Sdn Bhd CUMULATIVE PERFORMANCE Fund (%) Benchmark (%) YTD 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years Since Inception Annualised Since Inception (%p.a.) (0.22) (0.46) (0.22) (2.72) (1.69) 3.07 13.96 21.07 2.92 0.45 0.16 0.45 0.92 1.85 7.04 14.10 20.36 2.83 YEARLY PERFORMANCE 2015 (Aug-Dec) 2016 2017 2018 2019 2020 2021 2022 YTD Fund (%) 1.20 3.65 4.88 4.48 7.49 3.96 (5.54) (0.22) Benchmark (%) 1.32 3.32 3.11 3.33 3.19 2.22 1.85 0.45 Income Distribution (Sen/Unit) 0.35 5.15 2.50 3.55 5.90 4.80 1.50 - Distribution Yield (%) 0.40 1.33 3.25 3.57 5.81 4.76 1.45 - Source: Opus Asset Management Sdn Bhd The yield of the distribution are calculated based on the total distribution payout divided by the average NAV of the calendar year. MOST RECENT INCOME DISTRIBUTION Sen / Unit 25 Mar 2020 24 Jun 2020 28 Sep 2020 23 Dec 2020 24 Sep 2021 23 Dec 2021 1.25 0.80 1.80 0.95 0.50 1.00 TOP HOLDINGS* TOP 5 HOLDINGS 1. GII 4.119% 30.11.34 Rating % NR-GOVT 4.7% 2. BGSM MGMT 5.45% 28.06.24 AA3 4.0% 3. Penang Port 4.48% 27.12.29 AA- 3.8% 4. Maybank B3 T2 4.71% 31.01.31 (FC 30.01.26) AA1 3.6% 5. DUKE3 5.44% 23.08.29 AA- 3.5% PORTFOLIO POSITION Portfolio Duration Opus Asset Management Sdn Bhd [199601042272 (414625-T)] B-19-2, Northpoint Offices Mid Valley City No. 1, Medan Syed Putra Utara 59200 Kuala Lumpur Tel No: +603-2288 8833 (Client Services) Website: www.opusasset.com Investor Portal: touch.opusasset.com Portfolio Yield (Market) Average Rating 4.4 years 3.97% AA1 ** Non Rated–Government Guaranteed *The data provided above is that of the Fund and is a percentage of NAV. All figures are subject to frequent changes on a daily basis. The total for Sector Allocation and Credit Profile might not add up to 100% due to rounding. Note: The information contain in the fund fact sheet is derived from internal data of Opus Asset Management Sdn Bhd unless otherwise stated. Page 1 of 2
2. OPUS SHARIAH DYNAMIC INCOME FUND Performance Data & Analytics as at 31 March 2022 MANAGER'S COMMENT: Despite  a  safe  haven  bid  for  sukuk  in  the  beginning  of  March,  the  market  narrative  has  shifted  back  towards  inflation  concerns,  no  doubt  aided  in  part by   Powell’s   hawkish   comments   and   rising   commodity   prices.   We   expect   some   uncertainty   in   markets   as   investors  digest  the  implications  of  a  more hawkish   Fed   and  a  rate  hike  path  that  has  seemingly  steepened.  While  the  domestic  GII  market  was  slightly  affected  by  the  volatility  in  global  markets, we   expect   domestic   sukuk   yields   to   reflect   a   recovering   Malaysian   economy   with   slack  in  the  labour  market  and  a  comparatively  moderate  inflation outlook.   Thus,   we   maintain   our   house   view   of   a   25bps   rate   hike   by   Bank   Negara   Malaysia   (BNM)   in   2H2022.    The   ongoing   Malaysian   economy   recovery  is  expected  to  provide  an  uplift  to  corporate  financial  strength.  Thus,  we  will  continue  to  raise  our  corporate sukuk  holdings  with  selective  credits,  targeting  an  allocation  of  at  least  70%  to  corporate  sukuk,  and  increase  the  running  yield  to  at  least  4%.  In  light  of elevated volatility within global markets, we aim to keep duration shorter at around 3 – 5 years. Note: The information contain in the fund fact sheet is derived from internal data of Opus Asset Management Sdn Bhd unless otherwise stated. Based  on  the  Fund's  portfolio  returns  as  at  28  February  2022,  the  Volatility  Factor  (VF)  for  this  Fund  is  4.7  and  is  classified  as  "Low"  (source:  Lipper).  "Low"  includes  funds  with  VF  that  are  above 4.1900  but  not  more  than  10.4100.  The  VF  means  there  is  a  possibility  for  the  fund  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 Fund 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. Disclaimer:   This   fact   sheet   is   prepared   for   information   purposes   only.   While   reasonable   care   has   been   taken   to   ensure   that  the  stated  facts  are  accurate  and  reasonable,  neither  Opus  Asset Management   Sdn   Bhd   nor  its  sources  guarantee  that  it  is  accurate  or  complete  and  should  not  be  relied  upon  as  such.  This  fact  sheet  is  not  an  offer  or  invitation  to  subscribe  or  purchase  of  any units.   Units   of   the   Fund   can   only   be   purchased   by   Sophisticated   Investor   ("Investor")   as   stated   in  the  Information  Memorandum  and  its  supplementary(ies)  (if  any)  including  other  guidelines issued  by  the  Securities  Commission  Malaysia  (SC)  from  time  to  time.  A  copy  of  the  Information  Memorandum  and  its  supplementary(ies)  (if  any),  can  be  obtained  from  Opus  Asset  Management Sdn   Bhd   or  from  any  of  our  approved  distributors.  Past  performance  of  Fund  is  not  reflective  of  future  performance  and  income  distribution  is  not  guaranteed.  Investors  are  advised  to  read  and understand  the  contents  of  the  Information  Memorandum  and  its  supplementary(ies)  (if  any),  which  have  been  lodged  with  the  SC  who  takes  no  responsibility  for  its  contents, before subscribing to  the  investment  scheme.  The  Fund  may  not  be  suitable  for  all  and  if  in  doubt,  Investors  should  consult  a  professional  adviser.  In  the  event  that  there  is  a discrepancy of information between the fact    sheet,    Information    Memorandum    and    its    supplementary(ies)    (if    any),    the    information   in   the   Information   Memorandum   and   its   supplementary(ies)   (if   any),   shall   prevail.   Opus   Asset Management Sdn Bhd and its employee accept no liability whatsoever for any damages suffered as a result of using, modifying, copying and distributing any information from this fact sheet. Opus Asset Management Sdn Bhd [199601042272 (414625-T)] B-19-2, Northpoint Offices, Mid Valley City, No. 1, Medan Syed Putra Utara, 59200 Kuala Lumpur Tel No: +603-2288 8833 (Client Services) Website: www.opusasset.com Investor Portal: touch.opusasset.com Page 2 of 2