CIMB Islamic Asia Pacific Equity Fund Report - August 2019

Transcription

1. CIMB Islamic Asia Pacific Equity Fund 3-year Fund Volatlity 12 .66 31 August 2019 Very High Lipper Analytcs 15 Aug 2019 Available under the EPF Members Investment Scheme. Fund Objective Fund Performance Aims to achieve long-term capital appreciation and income while complying with Shariah investment criteria, through investments in the emerging and developed markets of Asia Pacific ex Japan region. 100% 80% 60% ISIN Code: MYU1000AA007 40% 20% Bloomberg Ticker: CIMAPAD MK Fund Information - 20% Location Malaysia Domicile Malaysia Fund Currency Ringgit Malaysia Fund Size (MYR) MYR 1.54 billion Fund Unit 2.01 billion units Fund Launch 6 February 2006 Benchmark Dealing Application Fee Management Fee Trustee Fee Unit NAV (MYR) ec -0 Ju 6 n0 Ja 7 n08 Ju l-0 Ja 8 n0 A 9 ug -0 Fe 9 b1 A 0 ug -1 M 0 ar -1 S 1 ep -1 M 1 ar -1 O 2 ct -1 A 2 pr -1 O 3 ct M 13 ay -1 N 4 ov M 14 ay -1 D 5 ec -1 Ju 5 n1 D 6 ec -1 6 Ju l-1 Ja 7 n18 Ju l-1 Fe 8 b1 A 9 ug -1 9 0% D Currency: MYR 120% - 40% Fund Benchmark Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss. Cumulative Performance (%) MSCI AC Asia ex Japan Islamic Index Daily (as per Bursa Malaysia trading day) IUTA: 5.00% of the NAV per unit CWA: 5.00% of the NAV per unit 1.80% p.a.of the NAV 0.07% p.a.of NAV MYR 0.7663 YTD Fund 8.51 Benchmark 5.38 Since 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception -1.53 2.20 -0.10 -6.06 12.50 34.49 74.77 -1.27 0.24 -4.30 -8.99 16.92 36.21 64.35 2018 2017 2016 2015 2014 2013 Fund -16.76 23.93 0.47 14.87 10.25 5.79 Benchmark -17.00 29.61 7.28 10.31 7.63 6.75 2018 May 2017 Mar 2.01 4.50 2.38 6.71 Calendar Year Returns (%) Most Recent Fund Distributions Gross (Sen/Unit) Annualised Yield (%) Note: February 2006 to August 2019. 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. Annualised yield is calculated as the most recent monthly dividend distribution multiplied by the Fund’s dividend frequency and divided by the latest NAV. Source : Lipper Top 10 Holdings Alibaba Group Holding Ltd Samsung Electronics Co. Ltd China Mobile Ltd Samsung Electronics-PFD Link REIT Telekomunikasi TBK PT CapitaLand Commercial Trust Cleanaway Waste Management Ltd CapitaLand Mall Trust Tencent Hldg Ltd Fund Risk Statistics % of net Country assets Cayman Islands 9.44 Beta 0.88 South Korea 8.68 Information Ratio Hong Kong 3.89 -0.37 South Korea 3.88 Hong Kong 3.46 Indonesia 2.84 Singapore 2.61 Australia 2.61 Singapore 2.61 Hong Kong 2.28 The holdings listed do no constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list. Sharpe Ratio 0.09 3 years monthly data
2. CIMB Islamic Asia Pacific Equity Fund As of 31 August 2019 Asset Allocation (%) Sector Allocation (%) Regional Allocation (%) Cash Cash 0.27 Mutual Fund 11.28 0.51 Health Care 1.90 Utilities Mutual Fund 0.27 4.75 Energy Materials Industrials 87.59 0 10 20 30 40 50 60 70 80 90 0.86 United States 0.92 Australia 3.86 Taiw an 3.88 Thailand 4.13 Indonesia 4.13 5.63 0.86 Shariah-compliant Equities (Foreign) Malaysia 5.04 Consumer Staples Shariah-compliant Equities (Local) 11.28 Cash 11.28 9.62 Communication Services 12.60 Real Estate 12.69 China 7.79 India 7.86 9.44 Cayman Islands 10.40 Singapore Consumer Discretionary 16.81 Hong Kong 17.72 Information Technology 18.90 South Korea 17.74 0 Fund 5 10 15 20 Fund 0 5 10 15 20 Fund Source: Factset. Fund holdings and allocations shown are unaudited and may not be representative of current or future investments. Percentages may not add up to 100% due to rounding and/or inclusion or exclusion of cash will not be reflected in the top holdings list. Fund Manager's Report In August, the Fund declined by 1.5% in MYR terms, underperforming the Benchmark by 26 basis points (bps). Australia was the main detractor while Indonesia and Singapore were contributors to performance. Year-to-date, the Fund rose by 8.5%, outperforming the Benchmark by 313 bps. Most Asian equity markets declined amidst escalating trade tensions between US and China and concerns over an inverted yield curve in the US which historically tend to be associated with recessions. Trade talks have deteriorated significantly with both US and China announcing additional tariffs on each others’ exports starting September. We are also beginning to see more assertive fiscal stimulus by certain governments. In Asia, India has announced various sector-specific initiatives to address the economic slowdown alongside further interest rate cuts. We have de-risked some of our Hong Kong SAR property exposure and diversified into selected telecommunication stocks where the competitive environment has improved. Our portfolio is overweight a group of defensive stocks, growth oriented names in Industrials and technology. New ideas will be differentiated in terms of business exposures to the existing stocks in the portfolio to provide resilience. ^Based on the fund's portfolio returns as at 15 August 2019, the Volatility Factor (VF) for this fund is 12.660 and is includes funds with VF that are above 11 .185. The VF means there is a possibility for the fund in generating an upside Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF the market for at least 36 months will display the VF and its VC. classified as "Very High" (source: Lipper). "Very High" return or downside return around this VF. The Volatility and VC will be revised every six months. The fund 's or VC in the future. Presently, only funds launched in 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 country risk, credit and default risk , currency risk, risks associated with investment in warrants and /or options and stock specific risk. You can obtain a copy of the Master Prospectus (Shariah-Compliant Funds) from the head office of Principal Asset Management Berhad (formerly known as 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, investors 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. Carefully consider a fund's objective, risks, charges and expenses. Visit www.principal.com.my for a prospectus containing this and other information. Please read it carefully before investing. 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.principal.com.my