CIMB Islamic Money Market Fund Report - January 2017

Transcription

1. 31 January 2017 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 0.19 Very Low FUND PERFORMANCE in MYR Lipper Analytcs 15 Jan 2017 30% 28% 26% FUND INFORMATION 24% 22% Location Kuala Lumpur, Malaysia Domicile Malaysia 18% Ringgit Malaysia 16% Fund Currency Fund Size (MYR) MYR 146.90 million Fund Unit 135.71 million units 20% 14% Fund Benchmark 12% 10% 8% Fund Launch 17 March 2008 Fund Inception (MYR) 17 March 2008 6% 4% 2% 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 1.0824 Unit NAV (MYR) Jul-2016 Jan-2017 Jul-2015 Jan-2016 Jul-2014 Jan-2015 Jul-2013 Jan-2014 Jul-2012 Jan-2013 Jul-2011 Jan-2012 Jul-2010 Jan-2011 Jul-2009 Account-i (FRIA-i) Dealing Jan-2010 Jul-2008 CIMB Islamic 1-Month Fixed Return Income Jan-2009 0% Benchmark Cumulative Performance (%) YTD 1 Month Fund Benchmark 0.41 0.25 3 Months 6 Months 0.80 0.75 1.71 1.50 0.41 0.25 1 Year 3 Years 5 Years 3.51 3.10 10.30 9.06 Since Inception 17.01 15.23 29.65 26.61 Calendar Year Performance (%) Fund Benchmark 2016 2015 2014 2013 2012 2011 3.36 3.12 3.36 2.88 3.09 2.78 3.00 2.78 3.01 2.79 2.99 2.70 Most Recent Fund Distributions Sen/Unit Yield (%) 2017 Jan 2016 Dec 2016 Nov 2016 Oct 2016 Sep 2016 Aug 0.30 3.36 0.27 3.24 0.25 3.00 0.26 2.88 0.25 2.76 0.23 2.76 Note: March 2008 to January 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. 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 January 2017, the Volatility Factor (VF) for this fund is 0.19 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. 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 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. 31 January 2017 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 January 2017 was 0.41% compared to the benchmark at 0.25%. ASSET ALLOCATION Bank Negara Malaysia (“BNM”) kept the Overnight Policy Rate (“OPR”) unchanged at 3.00% as expected during its first meeting of the year in January. The tone of the Monetary Policy Committee’s (“MPC”) statement was broadly neutral. BNM believes that the current degree of monetary accommodativeness is supportive of the domestic economy as it continues on a steady growth path. BNM expects the Malaysian economy to expand as projected in 2017 supported by the private sector. Headline inflation is expected to trend higher in 2017 driven by oil prices although core inflation is expected to remain stable. Although recent policy measures has provided stability to the domestic foreign exchange market, uncertainties in the global economy, the policy environment and geopolitical developments may result in bouts of volatility in the regional financial and foreign exchange markets. Islamic deposit rates have remained stable as a result. Sukuk 79.09% Cash 20.91% 100.00% Total COUNTRY ALLOCATION Overall, we target to stay fully invested in quality short term sukuks as well as Islamic commercial papers and extend the portfolio duration for yield enhancement. Malaysia 79.09% Cash 20.91% 100.00% Total RISK STATISTICS Beta Information Ratio Sharpe Ratio TOP HOLDINGS 1.27 1 Golden Assets Intl Fin Ltd Malaysia A1s 9.48% 1.92 2 Imtiaz Sukuk II Berhad Malaysia AA2s 8.85% 3 Sabah Credit Corp Malaysia AA1 6.81% 4 Kimanis Power Sdn Bhd Malaysia AA- 5.82% 5 Jimah Energy Ventures Malaysia AA3 4.13% 6 First Resources Ltd Malaysia AA2 3.40% 7 Perbadanan Kemajuan N.Selangor Malaysia AA3 3.40% 8 UEM Sunrise Bhd Malaysia AA- 3.40% 9 Lafarge Cement Sdn Bhd Malaysia AA2 1.70% -1.21 3 years monthly data Total 46.99% Page 2 of 2