CIMB Islamic DALI Asia Pacific Equity Growth Fund Report - May 2017

Transcription

1. 31 May 2017 CIMB Islamic DALI Asia Pacific Equity Growth Fund A S S E T MA N A GE ME N T (formerly known as CIMB Islamic Equity Fund) Available under the EPF Members Investment Scheme. INVESTMENT VOLATILITY FUND OBJECTIVE To provide investors with long-term capital growth by investing principally in equities. Fund also seeks to outperform the benchmark. 3-year Fund Volatlity 7.22 Moderate The FUND PERFORMANCE in MYR Lipper Analytcs 15 May 2017 250% 230% FUND INFORMATION 210% 190% Location Kuala Lumpur, Malaysia 170% Domicile Malaysia 150% Ringgit Malaysia 130% Fund Size (MYR) MYR 623.43 million 110% Fund Unit 686.66 million units 90% Fund Currency Fund Benchmark 70% 8 October 2004 Fund Inception (MYR) 8 October 2004 Benchmark 30% FTSE Bursa Malaysia EMAS Shariah Index + 70% MSCI AC Asia ex Japan Islamic Index Dealing Application Fee Daily (as per Bursa Malaysia trading day) 50% 30% 10% - 10% M a Se r- 05 p M - 05 a Se r- 06 p M - 06 a Se r- 07 p M - 07 a S r- 08 ep M - 08 a Se r- 09 p M - 09 a Se r- 10 p Ap - 10 r O - 11 ct Ap - 11 r O - 12 ct Ap - 12 r O - 13 ct Ap - 13 r O - 14 ct Ap - 14 r Oc - 15 t Ap - 15 r O - 16 ct M -1 ay 6 -1 7 Fund Launch - 30% - 50% Cumulative Performance (%) YTD 1 Month IUTAs: 6.50% of the NAV per unit CWA: 6.50% of the NAV per unit Management Fee 1.50% p.a. of the NAV Fund Benchmark Trustee Fee 0.06% p.a. of the NAV Calendar Year Performance (%) MYR 0.9079 Unit NAV (MYR) Fund Benchmark 9.18 13.87 Yield (%) 6 Months 5.48 6.90 8.81 13.17 1.11 2.32 1 Year 3 Years 5 Years 14.41 22.40 22.64 23.05 Since Inception 54.59 51.07 201.79 149.30 2016 2015 2014 2013 2012 2011 -1.10 3.08 9.99 5.07 3.54 1.66 13.48 10.22 14.72 11.56 -5.82 -7.78 Most Recent Fund Distributions Gross (Sen/Unit) 3 Months 2016 Sep 2015 Oct 2014 Nov 2012 Nov 2012 Mar 2011 Jun 1.00 1.17 5.40 6.34 5.35 6.04 4.60 5.92 4.50 6.03 4.94 6.18 Note: October 2004 to May 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 MYU1000BD009 SBBIKLS 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 May 2017, the Volatility Factor (VF) for this fund is 7.22 and is classified as "Moderate" (source: Lipper). "Moderate" includes funds with VF that are above 5.965 but not more than 8.015. 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, currency risk, risk of investing in emerging markets 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 May 2017 CIMB Islamic DALI Asia Pacific Equity Growth Fund A S S E T MA N A GE ME N T (formerly known as CIMB Islamic Equity Fund) Available under the EPF Members Investment Scheme. FUND MANAGER'S REPORT PORTFOLIO ANALYSIS The Fund gained 1.11% in May, underperforming the benchmark by 1.21%. Local equities outperformed, while regional equities underperformed. By sector , underperformance was driven by industrials, technology and consumer services. Year-to-date, the fund has gained 9.18%, underperforming the benchmark by 4.69%. ASSET ALLOCATION Shariah-compliant Equities (Foreign) 62.75% Shariah-compliant Equities (Local) 23.40% Cash 13.85% 100.00% Total Asian equities gained 4% in US$ terms in May 2017. It has been a narrow market year-to-date (+21%) with outperformance confined to technology and consumer discretionary. Asian equities remain a buy on the back of synchronized global growth (US, Europe, Japan, Emerging Markets), stable to low bond yields (US 10 year yields at 2.15%-2.50%) and a stable US Dollar supporting cyclical asset classes like Asian equities. China has achieved financial stability by controlling capital outflows and tightening shadow banking. Funds continue to flow into Asian equities and earnings estimates continue to see upgrades. In Malaysia, the FTSE Bursa Malaysia Emas Shariah Index fell 1.30% in May, despite a strong 1Q17 Gross Domestic Product growth of 5.6% year-on-year. SECTOR BREAKDOWN The regional equities portion is highly invested, and is overweight Singapore and India and underweight South Korea, China and Taiwan. In sector terms, it is overweight consumer discretionary, infor m a t i o n technology and telecommunications and underweight utilities, consumer staples and health care. For domestic equities, we continue to be bullish and believe that a combination of earnings upgrades, positive foreign inflows and stronger MYR will support the market. We continue to prefer cyclicals over defensives by maintaining exposure in construction , Government-linked Companies restructuring plays and e-commerce companies. COUNTRY ALLOCATION Consumer 22.08% Malaysia 23.40% Finance 11.39% Hong Kong 14.06% Trading / Services 10.47% South Korea 11.58% Industrials 10.05% India 10.18% Oil & Gas 7.24% Cayman Islands 6.03% Telecommunications 6.76% Singapore 4.85% Basic Materials 6.03% China 4.63% Technology 3.33% United States 3.73% Construction 2.60% Indonesia 3.49% IPC 2.30% Taiwan 3.33% Plantations 2.25% Thailand 0.52% Mutual Fund 0.80% Philippines Properties 0.50% Cash Utilities Cash Total 0.35% 13.85% 0.35% 13.85% 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS Beta Information Ratio Sharpe Ratio 0.78 -0.14 0.49 3 years monthly data 1 Alibaba Group Holding Ltd Cayman Islands 6.03% 2 Reliance Industries Ltd India 3.91% 3 Posco South Korea 3.74% 4 CTRIP.COM-ADR United States 3.73% 5 Tenaga Nasional Bhd Malaysia 2.81% 6 Telekomunikasi TBK PT Indonesia 2.69% 7 Maruti Suzuki India Ltd India 2.65% 8 SK Hynix Inc South Korea 2.37% 9 Bharti Infratel Ltd India 2.21% Singapore 1.91% 10 CapitaLand Mall Trust Total 32.05% Page 2 of 2