CIMB Islamic Balanced Growth Fund Report - April 2017

Transcription

1. 30 April 2017 CIMB Islamic Balanced Growth Fund A S S E T MA N A GE ME N T Available under the EPF Members Investment Scheme . INVESTMENT VOLATILITY FUND OBJECTIVE To grow the value of the Unit holders’ investments over the long -term in a diversified mix of Malaysian assets in approved Shariah instruments while providing consistent income. 3-year Fund Volatlity 4.99 Low FUND PERFORMANCE in MYR Lipper Analytcs 15 Apr 2017 200% 180% FUND INFORMATION 160% Location Kuala Lumpur, Malaysia 140% Domicile Malaysia 120% Ringgit Malaysia Fund Currency Fund Size (MYR) MYR 368.92 million Fund Unit 565.72 million units 100% Fund Benchmark 80% 60% 26 May 2003 Fund Inception (MYR) 26 May 2003 Benchmark 60% FBM EMAS Shariah Index + 40% CIMB Islamic 1-Month Fixed Return Income Account-i (FRIA-I) Dealing Application Fee Daily (as per Bursa Malaysia trading day) 40% 20% 0% Oc M t- 03 ay D - 04 ec Ju - 04 n Ja - 05 n Au - 06 g M - 06 a Se r- 07 p Ap - 07 N r- 08 ov Ju - 08 n D e - 09 cJu 09 Fe l- 10 b Se - 11 p M - 11 ar Oc - 12 M t- 12 ay N - 13 ov Ju - 13 n Ja - 14 n Au - 15 g Fe - 15 b Se - 16 p Ap - 16 r- 1 7 Fund Launch Cumulative Performance (%) YTD 1 Month IUTAs: 5.00% of the NAV per unit CWA: 6.00% of NAV per unit Management Fee 1.50% p.a. of the NAV Fund Benchmark Trustee Fee 0.07% p.a. of the NAV Calendar Year Performance (%) MYR 0.6521 Unit NAV (MYR) Fund Benchmark 4.50 5.13 Yield (%) 6 Months 3.64 3.92 2.34 3.46 1.19 0.85 1 Year 3 Years 5 Years 4.78 5.01 5.35 2.69 Since Inception 28.99 19.27 151.90 139.04 2016 2015 2014 2013 2012 2011 -3.36 -2.49 4.96 2.72 0.68 -1.37 13.50 9.09 13.99 8.24 7.39 2.77 Most Recent Fund Distributions Gross (Sen/Unit) 3 Months 2017 Jan 2016 Jan 2015 Jan 2014 Jan 2012 Dec 2011 Dec 2.50 3.85 2.65 3.79 3.30 4.56 2.95 4.61 2.03 3.23 1.86 3.01 Note: May 2003 to April 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 MYU1000AK006 COMDBAR 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 April 2017, the Volatility Factor (VF) for this fund is 4.99 and is classified as "Low" (source: Lipper). "Low" includes funds with VF that are above 1.785 but not more than 5.965. 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 credit (default) and counterparty risk, interest rate 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. *Note: The Fund does not invest in interest bearing instruments; the interest rate referred herein is to the general interest rate of the country, which may affect the value of the investments of the Fund. Page 1 of 2
2. 30 April 2017 CIMB Islamic Balanced Growth 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 posted a gain of 1.19% in April 2017, outperforming the benchmark by 0.34%. For the month, both equities and fixed income outperformed. For equities, outperformance came mainly from overweight positions in Pos and Serba Dinamik. For fixed income, the main contributors were from power, plantation, REITS, financial services and banking related sukuks in the Fund. Year-to-date, the fund gained 4.50%, underperforming the benchmark by 0.63%. ASSET ALLOCATION Equities (Local) 51.96% Sukuk 36.17% Preferred Stock 0.02% Cash 11.85% 100.00% Total The FTSE Bursa Malaysia Emas Shariah Index (FBMS) rose 1.3% in April, driven by inflows from foreign funds. The Ringgit (MYR) strengthened 1.9% from 4.425 to 4.341 during the month. The local market continues to be bullish, led by net foreign inflows from funds that remain underweight on Malaysia. For year-to-date April 2017, net foreign inflows amounted to RM8.3 billion, with RM2.6 billion inflows in April itself. We expect the upcoming 1Q17 results season to drive the market higher. SECTOR BREAKDOWN For equities, we continue to prefer cyclicals over defensives, maintaining exposure in oil and gas, tourism related-companies, Government-linked Companies restructuring plays and e-commerce companies. For fixed income, we are overweight on corporate sukuks and aim to switch into primary issuances that offer attractive spreads. We have a tactical stance on sovereign sukuks and will participate in new benchmark government auctions opportunistically where we see value. COUNTRY ALLOCATION Sukuk 36.17% Malaysia 88.15% Trading / Services 23.32% Cash 11.85% Industrials 6.78% Construction 5.77% IPC 5.11% Plantations 5.08% Finance 4.17% Consumer 1.12% Properties Cash Total 0.63% 11.85% 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS 1 Tenaga Nasional Bhd Malaysia 5.32% 2 Sime Darby Bhd Malaysia 3.84% 3 Pos Malaysia Bhd Malaysia 3.49% 4 Petronas Chemicals Group Bhd Malaysia 5 Perbadanan Kemajuan N.Selangor Malaysia 6 Gamuda Bhd Malaysia 2.51% 1.93% 3.27% AA3 2.72% Beta 0.90 7 Lingkaran Trans Kota Hldg Bhd Malaysia Information Ratio 0.46 8 Time Dotcom Bhd Malaysia -0.34 9 First Resources Ltd Malaysia AA2 1.90% Malaysia A1s 1.89% Sharpe Ratio 3 years monthly data 10 Golden Assets Intl Fin Ltd Total 1.91% 28.78% Page 2 of 2