CIMB Islamic Asia Pacific Equity Fund Report - March 2017

Transcription

1. 31 March 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% 3-year Fund Volatlity 40% 8.73 30% Fund Benchmark 20% High Lipper Analytcs 15 Mar 2017 Kuala Lumpur, Malaysia Domicile Malaysia Ringgit Malaysia Fund Currency Fund Size (MYR) MYR 360.82 million Fund Unit 483.52 million units Fund Launch 2 June 2006 Fund Inception (MYR) 2 June 2006 Dealing Application Fee Oct-2016 Apr-2016 Oct-2015 Apr-2015 Oct-2014 Apr-2014 Oct-2013 Apr-2013 Oct-2012 Apr-2012 Oct-2011 Apr-2011 Oct-2010 Apr-2010 Oct-2009 Apr-2009 Oct-2008 Apr-2008 - 20% Location Benchmark Oct-2007 FUND INFORMATION Apr-2007 0% - 10% Oct-2006 10% 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 6.43 11.61 2.18 3.45 3 Months 6 Months 6.43 11.61 4.57 10.97 1 Year 3 Years 5 Years 17.12 27.73 38.26 40.77 Since Inception 50.35 53.94 66.17 61.79 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 0.7462 Unit NAV (MYR) Note: June 2006 to March 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 March 2017, the Volatility Factor (VF) for this fund is 8.73 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. 31 March 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 March 2017, the Fund increased 2.2% , underperforming the benchmark by 127 basis points. We are Overweight in Singapore and Indonesia and underweight in China and Korea. Sector wise, we are Overweight in Industrials and Financials and Underweight in Technology and Utilities ASSET ALLOCATION Asian markets rose by 3.3% during March, led by a broad rally across most countries excluding China. India outperformed as investor sentiment increased from ruling party BJP’s unexpected victory in the Uttar Pradesh state elections. Korea benefited from foreign inflows driven by continued upward earnings revision and Korean Won appreciation while Taiwan technology outperformed led by the Apple supply chain on expectations of significant specification upgrades in the upcoming OLED iPhone. While China’s economic numbers were stable, the lack of specific catalyst and more property curb measures led to a lackluster performance for the month. Shariah-compliant Equities (Foreign) 91.65% Shariah-compliant Equities (Local) 1.14% Cash 7.21% 100.00% Total SECTOR BREAKDOWN We are positive on Asian equities as we continue to see inflows, upward earnings revisions, and benign global financial markets (US 10-year yields 2.30%-2.70%, stable US Dollar Index at around 100 +/- 3%, relatively stable commodity prices). Sentiment-wise, animal spirits are slowly returning supported by strong global PMI’s and healthy equity markets. The portfolios are targeting to be fully invested, and expect to be buyers of the market on dips. COUNTRY ALLOCATION Consumer 26.36% Hong Kong 29.68% Finance 13.86% South Korea 13.16% Technology 13.25% Singapore 11.05% Industrials 11.76% India 9.32% Oil & Gas 8.28% Cayman Islands 9.26% Telecommunications 8.16% China 8.47% Basic Materials 7.94% Indonesia 5.87% Mutual Fund 1.28% Taiwan 1.72% Trading / Services 1.14% Philippines 1.65% Utilities 0.76% Malaysia 1.14% Cash 7.21% Thailand 0.76% United States 0.71% Cash 7.21% Total 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS Beta Information Ratio Sharpe Ratio 0.79 -0.17 0.88 3 years monthly data 1 Alibaba Group Holding Ltd Cayman Islands 9.26% 2 Tencent Hldg Ltd Hong Kong 8.90% 3 Maruti Suzuki India Ltd India 3.85% 4 Telekomunikasi TBK PT Indonesia 3.48% 5 SK Hynix Inc South Korea 3.34% 6 Anhui Conch Cement Co. Ltd China 2.98% 7 ComfortDelGro Corp Ltd Singapore 2.89% 8 Posco South Korea 2.82% 9 China Petroleum & Chemical China 2.62% India 2.59% 10 Reliance Industries Ltd Total 42.73% Page 2 of 2