AmIslamic Fixed Income Conservtive Fund Report - March 2017

Transcription

1. 3-year Fund Volatility AmIslamic Fixed Income Conservative 0 .86 Very Low March 2017 Lipper Analytics 31 Jan 2017 AmIslamic Fixed Income Conservative (the "Fund") aims to provide capital appreciation over the Short to Medium Term* by investing in a portfolio consisting of fixed income instruments that comply with Shariah Principles. Note : *Short to medium term refers to investment horizon of one (1) to three (3) years. The Fund is suitable for investors who seek: • to preserve their capital**; and • an investment with short to medium term investment horizon Note:**Capital preservation does not mean that the capital is guaranteed or protected. Investment Strategy • A minimum 70% of its NAV in Sukuk, while maintaining a weighted average portfolio duration of one (1) to three (3) years and carry a minimum long-term credit rating of A3 by RAM or MARC equivalent at all times. • maximum 30% of its NAV in Shariah Compliant money market instruments such as Islamic accepted bills, Islamic negotiable instruments of deposits, Islamic repurchase agreements (Repo-i) and Shariah fixed income deposits which have weighted duration of up to one (1) year, with shortterm local credit rating of A3 or P3 by RAM or MARC equivalent. Top Holdings* (as at 28 February 2017) Malaysia Building Society Berhad / AA1 RHB Islamic Bank Berhad / AA3 Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd / APublic Islamic Bank Berhad / AA1 Kuala Lumpur Kepong Berhad / AA1 7.25% 6.84% 5.57% 5.23% 5.16% * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: AmFunds Management Berhad Rating Allocation* (as at 28 February 2017) Source: AmFunds Management Berhad AA, 67.40% Fund Details Fund Category / Type Fund Launch Date Offer Price at Launch NAV (28 Feb 2017) 1-year NAV High (28 Feb 2017) 1-year NAV Low (28 Feb 2017) Total Units (28 Feb 2017) Fund Size (28 Feb 2017) Annual Management Fee Annual Trustee Fee Entry Charge Exit Fee Redemption Payment Period Investment Manager Income Distribution Bond (Islamic, i.e. Sukuk) / Growth 09 January 2012 MYR 1.0000 MYR 1.1807 MYR 1.1807 (28 Feb 2017) MYR 1.1382 (01 Mar 2016) 82.36 million MYR 97.24 million Up to 0.75% p.a. of the NAV of the Fund Up to 0.08% p.a. of the NAV of the Fund, subject to a minimum fee of RM10,000 p.a. Nil Nil By the 10th day of receipt of a repurchase notice AmIslamic Funds Management Sdn Bhd Income distribution (if any) is incidental and will be reinvested AAA, 9.90% Cash, 16.20% A, 6.50% * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: AmFunds Management Berhad Fund Performance (as at 28 February 2017) Cumulative performance over the period (%) 20.00 15.00 10.00 Source: AmFunds Management Berhad Manager's Commentary As we move towards the March FOMC meeting, strong US economic data and persistent hawkish statements by various key Fed officials have increased the odds of Fed Funds rate hike from the previous levels of below 40% to the current level 80%. This has reinforced expectations that a Fed rate hike in March is imminent. This contrasted with the FOMC’s February statement which leaned toward a dovish stance, citing uncertainties surrounding Donald Trump’s policies and that there is no urgency of hiking rates at the moment. The fact that the FOMC statement did not give a clear indication on the timing of next rate hike had guided the investors as being dovish in the month of February. The recently held Donald Trump’s first presidential congress speech has received good remarks from the viewers and has left Wall Street in high spirits. The optimistic tone of Trump’s speech has pushed the Dow higher. However, the speech did not give any details on Trump’s policies particularly the highly anticipated tax reform and deregulation. This has stalled the sell-off in the US Treasuries market somewhat. On the domestic front, BNM held policy rate at 3.00% during its MPC meeting in March, as widely expected. Source: AmIslamic Funds Management Sdn Bhd 5.00 0.00 Feb-12 Feb-17 AmIslamic Fixed Income Conservative Maybank 12-Month General Investment Account Rate The value of units may go down as well as up. Past performance is not indicative of future performance. Source: AmFunds Management Berhad Performance Data (as at 28 February 2017) 1m 6m 1 yr 3 yrs 5 yrs Fund (%) 0.43 1.29 3.75 10.90 18.03 *Benchmark (%) 0.26 1.75 3.72 11.15 18.34 *Maybank 12-Month General Investment Account Rate Source: *AmFunds Management Berhad, Verified by Novagni Calendar Year Return 2016 2015 2014 2013 2012 Fund (%) 3.50 3.37 3.16 2.96 - *Benchmark (%) 3.81 3.65 3.25 3.19 - *Maybank 12-Month General Investment Account Rate Source: AmFunds Management Berhad, Verified by Novagni Growing your investments in a changing world Based on the fund’s portfolio returns as at 31 January 2017, the Volatility Factor (VF) for this fund is 0.86 and is classified as "Very Low" (Source: Lipper). "Very Low" includes funds with VF that are lower 1.785 (source: Lipper). 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. The information contained in this material is general information only and does not take into account your individual objectives, financial situations or needs. You should seek your own financial advice from an appropriately licensed adviser before investing. You should be aware that investments in a unit trust fund carry risks. An outline of some of the risks is contained in the Master Prospectus dated 10 September 2016 & 1st Supplemental Master Prospectus dated 31 December 2016 (collectively referred as the “Prospectus”). The specific risks associated with investment of the Fund are credit and default risk, rate of return risk, liquidity risk, shariah non-compliance risk and related party transaction risk as contained in the Prospectus. Unit prices and income distribution, if any, may rise or fall. Past performance of a fund is not indicative of future performance. Please consider the fees and charges involved before investing. Units will be issued upon receipt of completed application form accompanying the Prospectus and subject to terms and conditions therein. Where a distribution is declared, you are advised that following the distribution, the Net Asset Value (“NAV") per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Where a unit split is declared, you are advised that following the issue of additional units, the NAV per unit will be reduced from pre-unit split NAV to post-unit split NAV.Kindly take note that the value of your investment in Malaysian ringgit will remain unchanged after the distribution of the additional units. You have the right to request for a copy of Product Highlights Sheet for the fund. You are advised to read and understand the contents of the Product Highlights Sheet and the Prospectus before making an investment decision. The Prospectus has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. You can obtain a copy of the Product Highlights Sheet and the Prospectus from any of our representative office and authorized distributor. AmFunds Management Berhad does not guarantee any returns on the investments. In the event of any dispute or ambiguity arising out of the other language translation in this leaflet, the English version shall prevail. Note:All fees, charges and expenses disclosed in this material are expressed on a Goods and Services Tax (“GST”)-exclusive basis. Accordingly, to the extent that services provided are subject to GST, the amount of GST payable on any related fees, charges and/or expenses will be payable by the unit holder(s) and/or the fund (as the case may be) in addition to the fees, charges and expenses disclosed in this material. Privacy Notice: AmFunds Management Berhad (Company Registration : 154432-A) issued its Privacy Notice as required by Personal Data Protection Act 2010, which details the use and processing of your personal information by AmFunds Management Berhad. The Privacy Notice can be accessed via www.aminvest.com and available at our head office. If you have any queries in relation to the Privacy Notice of AmFunds Management Berhad, please feel free to contact our Client Service Officers at Tel: +603 2032 2888 OR e-mail: enquiries@aminvest.com.