Aberdeen Islamic Malaysia Equity Fund Report - February 2018

Transcription

1. February 2018 Aberdeen Islamic Malaysia Equity Fund Performance Data and Analytics to 31 January 2018 Fund objective Seeks to achieve capital appreciation in the long term through investments in Shariahcompliant equities and equity related securities . Key information Inception date Launch date Benchmark Sales charge Switching fee Annual management fee 06 February 2013 17 January 2013 FTSE Bursa Malaysia EMAS Shariah Index Up to 5.0% of the NAV per unit Up to 1.0% of the amount switched Class A: 1.5% of the NAV of the Fund attributable to Class A Class I: 1.0% of the NAV of the Fund attributable to Class I Min. investment Class A: RM1,000/Class I: RM5,000,000 Min. subsequent investment Class A: RM500/Class I: RM500,000 Fund size RM 6.8m NAV per Unit 1.2702 RM Performance Percentage Growth Total Return (06/02/2013 - 31/01/2018) 50 40 30 20 10 Fund Jan-18 Oct-17 Jun-17 Feb-17 Oct-16 Jun-16 Feb-16 Oct-15 Jun-15 Feb-15 Oct-14 Jun-14 Feb-14 Oct-13 Jun-13 -10 Feb-13 0 Benchmark1 Performance (%) MYR Fund Benchmark1 Cumulative 1 mth 3 mths 1 yr 3 yrs -0.8 -0.7 6.8 5.0 2.7 5.3 14.7 14.9 Incep. 27.0 42.8 Annualised 3 yrs Incep. 1.6 4.9 4.7 7.4 Top ten holdings (%) United Plantations Axiata Group United Malacca Nestle Malaysia Aeon Co (M) Berhad Batu Kawan Time dotCom Lafarge Malayan Cement SP Setia Dialog Group Total 6.6 6.6 6.3 6.0 5.2 5.2 4.7 4.5 4.2 3.9 53.2 Sector allocation (%) Consumer Goods 28.6 21.6 Industrials 11.3 Telecommunications 10.9 Basic Materials 6.2 Financials 5.2 Consumer Services 4.9 Oil & Gas 3.7 Healthcare 2.7 Utilities 1.3 Technology 3.7 Cash 100.0 Total Figures may not always sum to 100 due to rounding. Codes Sedol number Class A - B966491 Class I - B965B19 ISIN code Class A MYU9000AC005 Class I MYU9000AD003 Bloomberg ticker Class A - ABIMEQA MK Class I - ABIMEQI MK Performance data is based on NAV to NAV prices. Gross income is assumed to be reinvested into the Fund. The value of units may go down as well as up, and past performance is not indicative of future performance. Source: Lipper 1 Benchmark is FTSE Bursa Malaysia EMAS Shariah Index. Prices over past 12 months MYR Highest NAV 1.2827 (3/11/2017) Lowest NAV 1.1898 (1/02/2017) www.aberdeen-asset.com.my Important information overleaf Fund manager's report on page 2 Page 1 of 2
2. February 2018 Aberdeen Islamic Malaysia Equity Fund Performance Data and Analytics to 31 January 2018 Fund manager 's report l l l l l l Foreign buying drove Malaysian equities higher in January, but a global market rout towards the month-end pared gains. Renewed concerns over rising inflation and the possibility that major central banks could follow the US Federal Reserve in accelerating their pace of policy normalisation sparked a widespread sell-off in bond marketsand pushed the benchmark US 10-year Treasury yield sharply higher. Meanwhile, the ringgit continued to strengthen against the US dollar after Bank Negara raised interest rates for the first time in over three years. The 0.25% hike to 3.25% was well telegraphed by the central bank, which said last November that improving economic conditions warranted a review of its policy. The domestic economy grew faster than expected in the first nine months of 2017. Healthy trade and firmer oil prices are expected to continue supporting growth in 2018, boosted by government spending ahead of the general election. After a bumper year in 2017, there was a sense that equity markets may be due for a pullback. Hence, the latest sell-off may not necessarily a bad thing, especially if it helps investors refocus more on fundamentals, rather than getting carried away by sentiment or momentum. Meanwhile, synchronised global economic growth should underpin exporters in sectors such as manufacturing and commodities. In particular, oil prices may find further support in a decrease in oil supply. Domestically, government spending on infrastructure as well as other programmes ahead of the elections could provide a further boost and lift consumption. However, recent inflows of foreign funds into equities, bonds and other direct investments have resulted in a stronger ringgit, which may pose a risk to exporters. Sentiment could also be dented by monetary policy tightening in major economies or an unexpected election outcome at home. All things considered, we continue to see good prospects for the companies that we hold, which are selected through our bottom-up analysis of company fundamentals. These businesses are led by capable management, have robust operations, and could see intrinsic earnings growing. To navigate the fast-changing markets, we will continue to monitor our investments diligently, while maintaining a longterminvestment outlook. In portfolio activity, we reinitiated Ajinomoto Malaysia, a manufacturer of monosodium glutamate (MSG) and other related products. We also trimmed Nestle Malaysia, while adding to CCM Duopharma, IJM Corp and Sime Darby on attractive valuations. _____________________________________________________________________________________________________________________________________________ Disclaimer Investors should read and understand the master prospectus dated 2 December 2016 and the supplemental master prospectus dated 1 November 2017 in respect of Aberdeen Islamic Malaysia Equity Fund (“AIMEF”), Aberdeen Islamic World Equity Fund (“AIWEF”) and Aberdeen Islamic Asia Pacific Ex Japan Equity Fund (“AIAPxJEF”) (collectively, “Master Prospectus”) as well as the Product Highlights Sheet in respect of AIMEF, AIWEF and AIAPxJEF which can be obtained at our office or from any of our approved distributors, or seek relevant professional investment advice, before making any investment decision. A copy of the Master Prospectus has been registered with the Securities Commission of Malaysia. Investors should consider the fees and charges involved before investing. Investments in the unit trusts are not deposits in, obligations of, or guaranteed or insured by Aberdeen Islamic Asset Management Sdn. Bhd. (the “Manager”), and are subject to investment risks, including the possible loss of the principal amount invested. Unit values and income therefrom may fall or rise. Past performance is not indicative of future performance. Units will only be issued on receipt of the application form referred to in and accompanying the Master Prospectus, subject to the terms and conditions therein. Investors are advised to read and understand the contents of the unit trust loan financing risk statement before deciding to borrow/seek financing facility to purchase units. The information herein shall not be disclosed, used or disseminated, in whole or part, and shall not be reproduced, copied or made available to others. The Manager reserves the right to make changes and corrections to the information, including any opinions or forecasts expressed herein at any time, without notice. Aberdeen Islamic Asset Management Sdn. Bhd. (827342-W) For more information Phone + 60 3 2053 3800 Fax + 60 3 2031 1868 A copy of the prospectus is available from the website or from: Suite 26.3 Level 26, Menara IMC Letter Box No. 66 No. 8 Jalan Sultan Ismail 50250 Kuala Lumpur Malaysia Page 2 of 2