Amlttikal Fund Factsheet - December 2016

Transcription

1. 3-year Fund Volatility AmIttikal 7 .90 Moderate December 2016 Lipper Analytics 31 Oct 2016 AmIttikal (the "Fund") is designed as a medium to Long Term investment with an objective of producing "halal" income* and to a lesser extent capital growth. Note:*The income could be in the form of units or cash The Fund is suitable for investors who: • seek for a positive return through a regular flow of "halal" income* • seek for a diversified portfolio with a conservative investment strategy that conforms to the principles of Shariah • have medium to long-term investment goals and are not planning to have access to your money in the next 3 years Note:*The income could be in the form of units or cash Investment Strategy • Up to 95% of its NAV in equities or debt securities that conform to the principles of Shariah • value adds through active tactical asset allocation • selects securities based on current income*, prospects of growth and capital appreciation potential Source: AmFunds Management Berhad Fund Details Fund Category / Type Fund Launch Date Offer Price at Launch NAV (30 Nov 2016) 1-year NAV High (30 Nov 2016) 1-year NAV Low (30 Nov 2016) Total Units (30 Nov 2016) Fund Size (30 Nov 2016) Annual Management Fee Annual Trustee Fee Entry Charge Exit Fee Redemption Payment Period Investment Manager Income Distribution Equity (Islamic) / Income and to a lesser extent growth 12 January 1993 MYR 1.0000 MYR 0.6194 MYR0.6757 (06 Jan 2016) MYR 0.6190 (16 May 2016) 287.54 million MYR 178.11 million Al-Mudharabah (profit share) of up to 20% of the net realised profit Up to 0.07% p.a. of the NAV of the Fund Up to 6.00% of the NAV per unit for cash sales Nil By the 10th day of receipt of a repurchase notice AmIslamic Funds Management Sdn Bhd Income distribution (if any) is paid at least once every year Top Holdings* (as at 30 November 2016) Tenaga Nasional Berhad Sime Darby Berhad DiGi.Com Berhad IHH Healthcare Berhad Axiata Group Berhad 10.00% 7.84% 5.50% 4.40% 4.18% * 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 Sector Allocation* (as at 30 November 2016) Trading/Services Cash and others Industrial products Construction Infrastructure 38.78% 13.43% 11.41% 9.93% 8.36% Properties Finance Plantation Technology Consumer products 5.92% 4.52% 3.50% 2.39% 1.76% * 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 30 November 2016) Cumulative performance over the period (%) 60.00 50.00 40.00 30.00 20.00 10.00 0.00 Source: AmFunds Management Berhad -10.00 Income Distribution History -20.00 AmIttikal Payout (sen) FY 2016 FY 2015 FY 2014 FY 2013 FY 2012 1.00 2.00 3.00 2.00 1.00 Total (sen) 2.00 2.00 1.50 2.00 2.00 3.00 4.00 4.50 4.00 3.00 Nov-11 Malayan Banking Berhad 12-months Islamic General Investment Account plus 3% spread Nov-16 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 30 November 2016) Source: AmFunds Management Berhad Manager's Commentary The fund registered a return of -2.84% for the month under review while FBM Emas Syariah Index and FBM Hijrah Shariah Index reported a return of -3.90% and -3.50% respectively. Despite the decline in the KLCI index, the valuation remains close to one standard deviation above the mean. This was due to the decline in the earnings growth. Most of the companies reported lower than consensus third quarter 2016 earnings. The revised 2016 earnings are at -4% from -3.5% in October 2016. 2017 earnings were also been revised downwards from 7% to 6%. This has dampened sentiment over the outlook of KLCI in the short term. Meanwhile, Ringgit was the worst hit among Asian currencies after the conclusion of the US Presidential election, Ringgit decreased by 10.13% from 8th November 2016 to 25th November 2016. However, we maintain our Neutral call on Malaysia due to low expectation of corporates earnings growth for 2017 by consensus. The valuation might improve on two counts:- i) If oil price maintains or improves from current USD45 per barrel due to potential cut in oil output by OPEC and ii) the government is able to execute well its plan to improve domestic consumptions. These two factors might improve the corporate earnings and hence index valuation. In terms of strategy, stock picking is the utmost important for now due to subdued earnings forecast in 2017 for Malaysia. The weakening of RM is vulnerable to stocks which have high foreign shareholdings and high foreign debt but will be positive for companies which derive revenue mainly from USD. Besides this, we are also looking to add on weakness stocks which are in the construction sector and consumer sector. We will also accumulate REITs and high yielding dividend stocks on weakness. Fund (%) *Benchmark (%) 1m 6m 1 yr 3 yrs 5 yrs -2.84 1.30 -0.59 2.99 37.62 0.52 3.29 6.86 21.01 36.45 *Malayan Banking Berhad 12-months Islamic General Investment Account plus 3% spread Source: *AmFunds Management Berhad, Verified by Novagni Calendar Year Return Fund (%) *Benchmark (%) 2015 2014 2013 2012 2011 4.46 -2.11 19.37 11.46 5.36 6.65 6.25 6.19 6.19 6.08 *Malayan Banking Berhad 12-month Islamic General Investment Account plus 3% spread Performance figures are based on NAV-to-NAV prices, dividends re-invested in MYR Source: AmFunds Management Berhad, Verified by Novagni Source: AmIslamic Funds Management Sdn Bhd Growing your investments in a changing world Based on the fund’s portfolio returns as at 31 October 2016, the Volatility Factor (VF) for this fund is 7.90 and is classified as "Moderate" (Source: Lipper). "Moderate" Includes funds with VF that are higher than 6.455 and lower than 8.405 (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 which expires on 9 September 2017 (referred to as the “Prospectus”). The specific risks associated with investment of the Fund are credit and default risk, stock specific risk, currency risk, income distribution 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.