AmOasis Global Islamic Equity Fund Report - July 2017

Transcription

1. 3-year Fund Volatility AmOasis Global Islamic Equity 10 .06 High Lipper Analytics 31 May 2017 July 2017 AmOasis Global Islamic Equity (the "Fund") seeks to achieve moderate capital and income* appreciation over a medium to long term by investing in shares of global Shariah compliant companies. Note: *The income could be in the form of units or cash. The Fund is suitable for investors who: • seek a globally diversified portfolio with an investment strategy that conforms to the principles of Shariah • seek a medium to long-term capital appreciation • seek a positive return through a regular flow of “halal” income* Investment Strategy • A minimum of 95% of it's NAV will be invested in Oasis Crescent Global Equity Fund (Target Fund) Asset Allocation 96.96% • Oasis Crescent Global Equity Fund 3.08% • Money Market Deposit -0.04% • Cash and others Source: AmFunds Management Berhad Fund Details Fund Category / Type Fund Launch Date Offer Price at Launch NAV Per Unit (30 Jun 2017) 1-year NAV High (30 Jun 2017) 1-year NAV Low (30 Jun 2017) Total Units (30 Jun 2017) Fund Size (30 Jun 2017) Annual Management Fee Annual Trustee Fee Entry Charge Exit Fee Redemption Payment Period Investment Manager Income Distribution Feeder Fund (Global Islamic equity) / Capital growth 21 April 2006 MYR 1.0000 MYR 0.9552 MYR 1.2136 (29 Sep 2016) MYR 0.9095 (11 Nov 2016) 14.59 million MYR 13.94 million Effective 1.80% p.a. of the NAV of the Fund Up to 0.07% p.a. of the NAV of the Fund Up to 5% 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 a year. Target Fund's Top 5 Holdings* (as at 30 June 2017) Pfizer Inc Johnson & Johnson AT & T inc Verizon Communications IBM 4.30% 4.10% 3.80% 3.50% 3.50% * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: Oasis Crescent Capital (Pty) Ltd (Target Fund’s Investment Manager) Target Fund's Sector Allocation* (as at 30 June 2017) Technology Healthcare Communications Consumer, Cyclical Energy Consumer, Non-cyclical Basic Materials Industrial Property 24.00% 20.00% 19.00% 13.00% 7.00% 7.00% 5.00% 4.00% 1.00% * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: Oasis Crescent Capital (Pty) Ltd (Target Fund’s Investment Manager) Target Fund's Country Allocation* (as at 30 June 2017) USA Europe ROW Japan 58.00% 25.00% 14.00% 3.00% * As percentage of NAV. Please note that asset exposure for the fund is subject to frequent change on a daily basis. Source: Oasis Crescent Capital (Pty) Ltd (Target Fund’s Investment Manager) Fund Performance (as at 30 June 2017) Cumulative performance over the period (%) Source: AmFunds Management Berhad 100.00 Target Fund Manager's Commentary Global economic growth is expected to rise to 3.4% in 2017 from 3.1% the prior year, as a moderate pickup in manufacturing and trade, as well as confidence and aggregate commodity prices should boost expenditure and output. According to the World Bank, growth in advanced economies is forecast to outstrip its long-term average over the next two years, supported by an improvement in the United States, which is showing signs of moderately accelerating wage growth. While investment remains weak compared to pre-2008 levels, regions such as the Euro zone are also expected to experience a partial release of pent up demand, which should support GDP over the short to medium term. In emerging markets, a number of economies such as Russia and Brazil are coming out of deep recessions, while China has continued to defy bearish forecasts by maintaining a GDP growth rate in excess of 6.5%. Geopolitical risks in the Middle East present a key risk to the global outlook, while a disruptive normalisation of monetary conditions in developed markets may also cause significant investment uncertainty, especially in countries which have benefitted from large capital inflows over the prior five years. Global equity markets have continued the strong momentum into the first half of 2017 with most developed market indices trading near highs despite a volatile economic and political environment. The rally in equities has resulted in most equity markets trading either in line or at premiums to their long-term valuations. While global growth expectations are improving, the high market valuations imply greater growth than what most economies are expanding at. This suggests elevated risk in the current environment as a disappointment in growth could result in a market correction. Despite this, attractive opportunities still exist within sectors. However, this favours stock picking over passive investing. Investors need to continue focusing on quality and value. During uncertain times, the market is likely to draw greater distinction between low and high quality companies which should play out favourably for our portfolio positioning. 80.00 60.00 40.00 20.00 0.00 -20.00 -40.00 -60.00 Apr-06 Jun-17 Dow Jones Islamic Markets Index 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 June 2017) Fund (%) *Benchmark (%) 1m 6m 1 yr 3 yrs 5 yrs -1.32 -1.84 11.90 17.84 56.49 -0.01 7.76 23.75 50.54 107.68 *Dow Jones Islamic Markets Index Source: AmFunds Management Berhad, Verified by Novagni Our share selection criteria continues to focus on market leaders which have sustainable competitive advantages and the ability to deliver superior Return on Equity (ROE) through the economic cycle. The higher free cash flow yields and stronger balance sheets of the companies in our portfolio ensures that they are able to invest in their businesses through the cycle, while providing sustainable returns to shareholders through dividends and share repurchases. We believe these qualities will continue to provide long-term wealth creation for our investors while taking on relatively lower risk than the market. Source: Oasis Crescent Capital (Pty) Ltd (Target Fund’s Investment Manager) AmOasis Global Islamic Equity Calendar Year Return 2016 2015 2014 2013 2012 Fund (%) 3.31 8.32 8.63 28.79 3.91 *Benchmark (%) 8.21 20.20 11.50 28.16 7.09 *Dow Jones Islamic Markets Index Source: AmFunds Management Berhad, Verified by Novagni
2. Disclaimer Based on the Fund ’s portfolio returns as at 31 May 2017, the Volatility Factor (VF) for this Fund is 10.06 and is classified as "High" (Source: Lipper). "High" includes funds with VF that are higher than 8.015 and lower than 10.605 (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 currency risk, risk of a passive strategy, risk of not meeting the Fund's investment objective, Shariah non-compliance risk and liquidity risk as contained in the Prospectus. Please also refer to the specific risks of the Target Fund before investing. 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. Growing your investments in a changing world