CIMB Islamic Al Azzam Equity Fund Report - February 2018

Transcription

1. 28 February 2018 CIMB Islamic Al-Azzam Equity Fund A S S E T MA N A GE ME N T Available under the EPF Members Investment Scheme . INVESTMENT VOLATILITY FUND OBJECTIVE The Fund aims to achieve consistent capital growth over the medium to long-term. 3-year Fund Volatlity 8.53 High FUND PERFORMANCE in MYR Lipper Analytcs 15 Feb 2018 50% 45% FUND INFORMATION 40% Location Kuala Lumpur, Malaysia 35% Domicile Malaysia 30% Ringgit Malaysia 25% MYR 64.34 million 20% Fund Currency Fund Size (MYR) 205.05 million units Fund Unit Fund Benchmark 15% Fund Launch 1 August 2012 10% Fund Inception (MYR) 1 August 2012 5% FTSE Bursa Malaysia EMAS Shariah Index Dealing Daily (as per Bursa Malaysia trading day) Application Fee IUTAs: 5.50% of NAV per unit CWA: 6.50% of NAV per unit Management Fee 1.50% p.a. of the NAV Trustee Fee 0.05% p.a. of the NAV MYR 0.3137 Unit NAV (MYR) Se p De - 12 c M - 12 a M r- 13 ay Au - 13 g No - 13 v Ja - 13 n Ap - 14 rJu 14 Se l- 14 p D - 14 ec M - 14 ar Ju - 15 n A - 15 ug N - 15 ov Fe - 15 b Ap - 16 rJu 16 O l- 16 ct D - 16 ec M - 16 ar Ju - 17 n Au - 17 g No - 17 v Fe - 17 b18 0% Benchmark - 5% - 10% Cumulative Performance (%) YTD 1 Month Fund Benchmark 1.10 0.94 3 Months 6 Months 3.84 3.93 6.12 5.32 -1.72 -1.69 1 Year 3 Years 5 Years 13.05 8.39 13.72 2.34 Since Inception 43.52 20.91 42.77 18.80 Calendar Year Performance (%) Fund Benchmark 2017 2016 2015 2014 2013 2012 14.84 10.72 -7.60 -6.14 11.08 2.35 -4.40 -4.17 22.62 13.29 N/A N/A Most Recent Fund Distributions 2016 Apr Gross (Sen/Unit) 2.20 7.39 Yield (%) Note: August 2012 to February 2018. Performance data represents the combined income & capital return as a result of holding units in the fund for the specified length of time, based on bid to bid prices. Earnings are assumed to be reinvested. CIMB-PRINCIPAL AWARDS AND ACCOLADES Currency MYR ISIN Code Bloomberg Ticker MYU1000DS002 CIMIAAE MK CIMB-Principal Asset Management Berhad 10th Floor, Bangunan CIMB, Jalan Semantan Damansara Heights, 50490 Kuala Lumpur. Tel: (603) 2084 8888 Fax: (603) 2084 8899 Website: www.cimb-principal.com.my ^Based on the fund's portfolio returns as at 15 February 2018, the Volatility Factor (VF) for this fund is 8.53 and is classified as "High" (source: Lipper). "High" includes funds with VF that are above 7.795 but not more than 10.615. 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. We recommend that you read and understand the contents of the Master Prospectus (Shariah-Compliant Funds) Issue No. 10 dated 30 June 2017, which has been duly registered with the Securities Commission Malaysia, before investing and that you keep the said Master Prospectus (Shariah-Compliant Funds) for your records. Any issue of units to which the Master Prospectus (Shariah-Compliant Funds) relates will only be made upon receipt of the completed application form referred to in and accompanying the Master Prospectus (Shariah-Compliant Funds), subject to the terms and conditions therein. Investments in the Fund are exposed to credit and default risk, interest rate risk, liquidity risk and stock specific risk. You can obtain a copy of the Master Prospectus (Shariah-Compliant Funds) from the head office of CIMB-Principal Asset Management Berhad or from any of our approved distributors. Product Highlight Sheet ("PHS") is available and that investors have the right to request for a PHS; and the PHS and any other product disclosure document should be read and understood before making any investment decision. There are fees and charges involved in investing in the funds. We suggest that you consider these fees and charges carefully prior to making an investment. Unit prices and income distributions, if any, may fall or rise. Past performance is not reflective of future performance and income distributions are not guaranteed. You are also advised to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure Statement before deciding to obtain financing to purchase units. Where a unit split/distribution is declared, you are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in Malaysian ringgit will remain unchanged after the distribution of the additional units. Page 1 of 2
2. 28 February 2018 CIMB Islamic Al-Azzam Equity Fund A S S E T MA N A GE ME N T Available under the EPF Members Investment Scheme . FUND MANAGER'S REPORT PORTFOLIO ANALYSIS The Fund fell 1.72% in February 2018, marginally underperforming the benchmark by 0.03%. At the stock level, the underperformance was due to Pos Malaysia, Kerjaya Prospek and Malaysian Resources Corp. On a year-to-date basis, the Fund is up 1.10%, outperforming the benchmark by 0.16%. ASSET ALLOCATION Shariah-compliant Equities (Local) 94.09% Cash 5.91% 100.00% Total February was a volatile month as investors began re-pricing more interest rate hikes in the United States, earlier than expected, on the back of higher inflation expectations. In line with the global rout, the FTSE Bursa Malaysia EMAS Shariah Index (FBMS) corrected 230.54 pts or 1.69% to 13,427.51 pts. The FBMS had fallen sharply from a high of 13,651 pts (February 2) to a low of 13,214 pts (February 6), before recouping part its losses by month end. In February, foreign investors net sold c. RM1.1bn bringing year-to-date net inflows to RM2.2bn. SECTOR BREAKDOWN We remain optimistic on the Malaysian market. Market will remain volatile as investors digest the recent corporate earnings, monitor inflation expectations and watch global central banks dial back their balance sheets, while waiting for our own 14th General Elections (GE14) to be called. While markets may correct, we are of the view that these corrections are not the start of a bear market. Hence, we will stay invested, but continue to trim portfolio risk by reducing exposure to stocks which have risen exponentially as we approach GE14. These include selective Construction stocks, as well as some politically-linked names. We will rotate into more liquid large cap names to raise portfolio liquidity. We continue to like Tourism and Industrials. We have also lowered our exposure to selective e-commerce/logistics names. COUNTRY ALLOCATION Trading / Services 27.88% Malaysia Industrials 22.66% Cash Construction 11.42% Technology 7.25% Plantation 6.10% Properties 6.04% Consumer 5.56% Finance 3.47% IPC 2.84% Second Board 0.87% Cash 5.91% Total 100.00% 94.09% 5.91% 100.00% Total TOP HOLDINGS RISK STATISTICS 1 Tenaga Nasional Bhd Malaysia 6.91% 2 Inari Amertron Bhd Malaysia 3.70% 3 Dialog Group Bhd Malaysia 3.34% 4 Top Glove Corp Bhd Malaysia 3.30% 5 Petronas Chemicals Group Bhd Malaysia 2.97% 6 Felda Global Ventures Holdings Malaysia 2.90% Beta 0.91 7 Sime Darby Bhd Malaysia 2.64% Information Ratio 0.97 8 My Eg Services Bhd Malaysia 2.44% Sharpe Ratio 0.13 9 Malaysian Resources Corp Bhd Malaysia 2.40% Malaysia 2.21% 3 years monthly data 10 George Kent Malaysia Bhd Total 32.81% Page 2 of 2