CIMB Islamic Small Cap Fund Report - April 2017

Transcription

1. 30 April 2017 CIMB Islamic Small Cap 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 seek medium to long-term growth in capital by investing principally in emerging companies listed on Bursa Malaysia and this must be in accordance with the Shariah principles. 3-year Fund Volatlity 13.46 Very High FUND PERFORMANCE in MYR Lipper Analytcs 15 Apr 2017 250% 230% FUND INFORMATION 210% 190% Location Kuala Lumpur, Malaysia 170% Domicile Malaysia 150% Ringgit Malaysia 130% Fund Size (MYR) MYR 254.51 million 110% Fund Unit 223.87 million units 90% Fund Currency Fund Benchmark 70% 30 April 2003 Fund Inception (MYR) 30 April 2003 Benchmark Dealing Application Fee FTSE Bursa Malaysia Small Cap Index Daily (as per Bursa Malaysia trading day) Iutas: 6.50% of the NAV per unit CWA: 6.50% of the NAV per unit Management Fee 1.85% p.a. of the NAV Trustee Fee 0.06% p.a. of the NAV MYR 1.1368 Unit NAV (MYR) 50% 30% 10% - 10% Se p Ap - 03 No r- 04 v Ju - 04 n De - 05 cJu 05 Fe l- 06 b Se - 07 p M - 07 ar O - 08 c M t- 08 ay D - 09 ec Ju - 09 n Ja - 10 n Au - 11 g M - 11 ar O - 12 ct Ap - 12 No r- 13 v Ju - 13 n Ja - 14 nJu 15 Fe l- 15 b Se - 16 p Ap - 16 r- 1 7 Fund Launch - 30% - 50% Cumulative Performance (%) YTD 1 Month Fund Benchmark 17.34 20.02 3.55 3.40 3 Months 6 Months 12.03 14.48 12.40 15.09 1 Year 3 Years 5 Years 17.76 14.49 1.78 1.35 Since Inception 61.03 43.59 166.37 211.68 Calendar Year Performance (%) Fund Benchmark 2016 2015 2014 2013 2012 2011 -10.68 -7.71 17.06 6.04 -9.85 -4.20 39.03 36.71 15.51 -1.63 -3.61 -7.57 Note: April 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. Source: Lipper CIMB-PRINCIPAL AWARDS AND ACCOLADES Currency MYR ISIN Code Bloomberg Ticker MYU1000AW001 BHLPDAZ 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 13.46 and is classified as "Very High" (source: Lipper). "Very High" includes funds with VF that are above 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 liquidity 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, investors 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. 30 April 2017 CIMB Islamic Small Cap 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 increased 3.55% in April 2017, outperforming the FTSE Bursa Malaysia Small Cap Index ("FBMSC") by 0.15%. The portfolio's overweight position in Success was the key contributor for the month. Year-to-date, the Fund is up 17.34%, underperforming the benchmark by 2.68%. ASSET ALLOCATION Shariah-compliant Equities (Local) 87.33% Cash 12.67% 100.00% Total The FBMSC rallied a further 3.40% in April on the back of the stronger Ringgit (MYR) which strengthened 1.9% from 4.425 to 4.341 during the month. Bank Negara Malaysia (BNM) released their second series of initiatives to develop the onshore financial market by (1) allowing all residents to participate in short-selling activities; and (2) allowing registered non-bank entities to fully hedge their underlying assets. These became effective on 2 May 2017. Malaysia’s March headline inflation hit a high of 5.1% yoy, fuelled mainly by transport cost. 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 continue to prefer cyclical stocks maintaining exposure in technology companies. SECTOR BREAKDOWN COUNTRY ALLOCATION over defensives, and industrial Industrials 26.86% Malaysia 87.33% Trading / Services 19.30% Cash 12.67% Construction 12.28% Consumer 10.21% Finance 6.59% Technology 4.39% IPC 3.99% Properties 2.60% Plantations 0.94% SPAC 0.17% Cash 12.67% Total 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS Beta Information Ratio Sharpe Ratio 0.71 1 Success Transformer Corp Malaysia 6.70% 2 Taliworks Corp Bhd Malaysia 4.32% 3 Time Dotcom Bhd Malaysia 3.99% 4 SKP Resources Bhd Malaysia 3.65% 5 Heveaboard Bhd Malaysia Total 3.59% 22.25% -0.04 -0.15 3 years monthly data Page 2 of 2