CIMB Islamic Money Market Fund Report - February 2018

Transcription

1. 28 February 2018 CIMB Islamic Money Market Fund A S S E T MA N A GE ME N T Available under the EPF Members Investment Scheme . INVESTMENT VOLATILITY FUND OBJECTIVE Aims to provide investors with liquidity and regular income, whilst maintaining capital stability by investing primarily in money market instruments that conform with Shariah principles. 3-year Fund Volatlity 0.20 Very Low FUND PERFORMANCE in MYR Lipper Analytcs 15 Feb 2018 34% 32% 30% FUND INFORMATION 28% 26% Location Kuala Lumpur, Malaysia 24% Domicile Malaysia 22% 20% Fund Size (MYR) MYR 302.56 million Fund Unit 280.73 million units Fund Launch 17 March 2008 Fund Inception (MYR) 17 March 2008 Benchmark CIMB Islamic 1-Month Fixed Return Income Account-i (FRIA-i) Dealing Daily (as per Bursa Malaysia trading day) Nil Application Fee Management Fee 0.50% p.a. of the NAV Trustee Fee 0.03% p.a. of the NAV MYR 1.0777 Unit NAV (MYR) 18% 16% Fund Benchmark 14% 12% 10% 8% 6% 4% 2% 0% Ju n N o - 08 v Ap - 08 Se r- 09 p Fe - 09 bJu 10 N o l- 10 v Ap - 10 Se r- 11 p Fe - 11 bJu 12 N l- 12 ov Ap - 12 Se r- 13 p Fe - 13 bJu 14 D e l- 14 c M - 14 ay Se - 15 p Fe - 15 bJu 16 D e l- 16 M c- 16 ay Se - 17 p Fe - 17 b18 Ringgit Malaysia Fund Currency Cumulative Performance (%) YTD 1 Month Fund Benchmark 0.59 0.48 3 Months 6 Months 0.84 0.73 1.72 1.47 0.30 0.23 1 Year 3 Years 5 Years 3.58 2.99 10.88 9.30 Since Inception 17.71 15.47 34.71 30.69 Calendar Year Performance (%) Fund Benchmark 2017 2016 2015 2014 2013 2012 3.72 2.99 3.36 3.12 3.36 2.88 3.09 2.78 3.00 2.78 3.01 2.79 Most Recent Fund Distributions Sen/Unit Yield (%) 2018 Feb 2018 Jan 2017 Dec 2017 Nov 2017 Oct 2017 Sep 0.36 3.96 0.49 5.40 0.38 4.20 0.43 4.68 0.38 4.20 0.36 3.96 Note: March 2008 to February 2018. 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. Source: Lipper CIMB-PRINCIPAL AWARDS AND ACCOLADES Currency MYR ISIN Code Bloomberg Ticker MYU1000CX005 CIMISMM 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 February 2018, the Volatility Factor (VF) for this fund is 0.20 and is classified as "Very Low" (source: Lipper). "Very Low" includes funds with VF that are below 1.785. 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. 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 credit and default risk and interest rate 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. 28 February 2018 CIMB Islamic Money Market 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’s performance for the month of February 2018 was 0.30% compared to the benchmark at 0.23%. ASSET ALLOCATION Bank Negara Malaysia raised the Overnight Policy Rate ("OPR") by 25 basis points on 25 January 2018. The next Monetary Policy Meeting is scheduled to be held on 7 March 2018 of which investors will be monitoring the tone of the monetary policy statement released. The central bank cited in January that at the current level of OPR, the stance of monetary policy remains accommodative and that they will continue to assess the balance of risks surrounding the outlook for domestic growth and inflation. Sukuk 92.06% Cash 7.94% 100.00% Total The headline inflation rate normalised to 2.7% YoY in January (+3.5% in Dec 2017). This was mainly due to a slower rise in F&B and transportation costs during the month. Going forward, headline inflation is expected to moderate to c.3% in 2018, from +3.7% last year, due to a smaller increase in oil prices compared to 2017. COUNTRY ALLOCATION Overall, we target to stay fully invested in quality short term sukuk papers as well as Islamic commercial papers. Malaysia 92.06% Cash 7.94% 100.00% Total RISK STATISTICS Beta Information Ratio Sharpe Ratio TOP HOLDINGS 1.04 1 Sarawak Energy Bhd Malaysia AA1 13.25% 2.40 2 UEM Sunrise Bhd Malaysia AA- 13.25% 3 Malakoff Power Bhd Malaysia AA- 9.30% 4 WCT Hldgs Bhd Malaysia AA- 7.95% 5 Golden Assets Intl Fin Ltd Malaysia A1s 4.95% 6 Senari Synergy Sdn Bhd Malaysia AAAfg 3.31% 7 Gamuda Bhd Malaysia AA3 3.30% 8 Special Power Vehicle Malaysia A1 1.71% 9 Jimah Energy Ventures Malaysia AA3 1.70% Malaysia AA 1.66% -0.21 3 years monthly data 10 Anih Bhd Total 60.38% Page 2 of 2