CIMB Islamic Asia Pacific Equity Fund Report - June 2017

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1. 30 June 2017 CIMB Islamic Asia Pacific Equity Fund A S S E T MA N A GE ME N T Available under the EPF Members Investment Scheme . FUND OBJECTIVE 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. FUND PERFORMANCE in MYR 80% 70% INVESTMENT VOLATILITY 60% 50% 40% 3-year Fund Volatlity 8.72 30% Fund Benchmark 20% High Lipper Analytcs 15 Jun 2017 10% O c M t- 06 a Au r- 07 g Fe - 07 bJu 08 De l- 08 c Ju - 08 n N - 09 ov Ap - 09 r Oc - 10 M t- 10 ar Au - 11 g Fe - 11 bJu 12 De l- 12 c Ju - 12 n No - 13 v Ap - 13 r O - 14 ct M - 14 ar Au - 15 g Fe - 15 bJu 16 D l- 16 ec Ju - 16 n17 0% - 10% FUND INFORMATION - 20% Location Kuala Lumpur, Malaysia Domicile Malaysia Ringgit Malaysia Fund Currency Fund Size (MYR) MYR 497.84 million Fund Unit 628.83 million units Fund Launch 2 June 2006 Fund Inception (MYR) 2 June 2006 Benchmark Dealing Application Fee 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 - 30% - 40% Cumulative Performance (%) YTD 1 Month Fund Benchmark 12.90 18.78 3 Months 6 Months 6.08 6.42 12.90 18.78 2.87 1.71 1 Year 3 Years 5 Years 18.53 31.62 38.27 44.12 Since Inception 67.42 75.10 76.28 72.18 Calendar Year Performance (%) Fund Benchmark 2016 2015 2014 2013 2012 2011 0.47 7.28 14.87 10.31 10.25 7.63 5.79 6.75 14.23 10.88 -19.13 -17.17 Most Recent Fund Distributions 2017 Mar 1.80% p.a.of the NAV Management Fee 0.07% p.a.of NAV Trustee Fee Gross (Sen/Unit) 4.50 6.71 Yield (%) MYR 0.7916 Unit NAV (MYR) Note: June 2006 to June 2017. 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 MYU1000AA007 CIMAPAD 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 June 2017, the Volatility Factor (VF) for this fund is 8.72 and is classified as "High" (source: Lipper). "High" includes funds with VF that are above 8.015 but not more than 10.605. 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. 9 dated 30 June 2016, 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 (default) and counterparty 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 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. 30 June 2017 CIMB Islamic Asia Pacific 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 In June 2017, the Fund increased 2.87%, outperforming the benchmark by 116 basis points. We are Overweight in India and Singapore and Underweight Korea and Taiwan. In sector terms, we are Overweight Telecommunications and Information Technology and Underweight Consumer Staples and Healthcare. ASSET ALLOCATION Asian Equities gained 1% in US$ terms in June 2017. Technology outperformed again in June and accounts for about half of the gains of the broader market year-to-date. Topical issues: how long can tech continue to outperform, will shrinking central bank balance sheets (like the US Federal Reserve) be problematic for risk assets? Asian equities are a BUY: Asian equities do well when growth picks up and financial conditions (like bond yields, currencies and capital flows) are stable. There is confidence that global growth can be sustained amid tighter labor markets which is why developed market central banks (latest being ECB, Bank of England) are now preparing markets for policy normalization. While the portfolios continue to be overweight tech, we would be more discerning going forward given that earnings forecast revision momentum may taper (vs. +30% upward revision in 1H2017) and prices for some stocks have gone parabolic which suggests investor positioning could be full. The Fund is 95% invested with Beta of 1. Shariah-compliant Equities (Foreign) 91.31% Shariah-compliant Equities (Local) 2.56% Cash 6.13% 100.00% Total SECTOR BREAKDOWN COUNTRY ALLOCATION Consumer 28.89% Hong Kong 22.22% Industrials 13.57% South Korea 15.92% Finance 11.65% India 14.67% Telecommunications 11.10% Cayman Islands 9.24% Oil & Gas 9.41% Singapore 6.82% Basic Materials 7.31% China 5.77% Technology 5.89% Taiwan 5.60% Utilities 2.56% United States 5.14% Construction 2.56% Indonesia 4.84% Mutual Fund 0.93% Malaysia 2.56% Cash 6.13% Philippines 0.57% Thailand 0.52% Cash 6.13% Total 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS Beta Information Ratio Sharpe Ratio 0.77 -0.30 0.88 3 years monthly data 1 Alibaba Group Holding Ltd Cayman Islands 9.25% 2 Reliance Industries Ltd India 5.47% 3 CTRIP.COM-ADR United States 5.14% 4 Posco South Korea 4.93% 5 Telekomunikasi TBK PT Indonesia 3.92% 6 SK Hynix Inc South Korea 3.59% 7 Maruti Suzuki India Ltd India 3.26% 8 Bharti Infratel Ltd India 3.22% 9 SAMSUNG ELECTRO-MECHANICS South Korea 2.73% Hong Kong 2.63% 10 China Unicom (Hong Kong) Ltd Total 44.14% Page 2 of 2