CIMB Islamic Small Cap Fund Report - February 2017

Transcription

1. 28 February 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 13.90 Very High FUND PERFORMANCE in MYR Lipper Analytcs 15 Feb 2017 250% 230% FUND INFORMATION 210% 190% Location Kuala Lumpur, Malaysia 170% Domicile Malaysia 150% Ringgit Malaysia 130% Fund Size (MYR) MYR 244.80 million 110% Fund Unit 232.78 million units 90% Fund Currency Fund Benchmark 70% Fund Launch 30 April 2003 50% Fund Inception (MYR) 30 April 2003 30% Benchmark Dealing Application Fee 10% 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 1.0516 Unit NAV (MYR) - 10% - 30% M ar-2005 M ar-2007 M ar-2009 M ar-2011 M ar-2013 M ar-2015 M ar-2004 M ar-2006 M ar-2008 M ar-2010 M ar-2012 M ar-2014 M ar-2016 - 50% Cumulative Performance (%) YTD 1 Month Fund Benchmark 8.54 7.12 3 Months 6 Months 9.52 9.99 10.02 3.96 3.63 2.18 1 Year 3 Years 5 Years 4.84 4.27 2.20 -4.59 Since Inception 54.17 23.48 146.38 178.19 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 February 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 February 2017, the Volatility Factor (VF) for this fund is 13.90 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. 28 February 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 3.63% in February 2017, outperforming the FTSE Bursa Malaysia Small Cap Index ("FBMSC") by 1.45%. Success Transformer and Salutica were the key outperformers for the month. On a year-to-date ("YTD") basis, the Fund increased by 8.54% while the benchmark increased by 7.12%. ASSET ALLOCATION Shariah-compliant Equities (Local) 86.79% Cash 13.21% 100.00% Total The FBMSC rallied further by 2.18% in February. The local market remains well bid with bullish undertones led by foreign flows that remain very underweight on Malaysia. Year-to-date foreign inflows continued to trend higher with inflows amounting to USD293m. 4Q16 earnings season has just ended in a mixed bag, but the earnings revision ratio remains much higher than in the previous quarter, indicating very low earnings expectations. We anticipate upgrades will continue to drive the market higher. SECTOR BREAKDOWN In terms of investment strategy, we look to be more nimble in our asset allocation. We continue to overweight construction, government-linked companies and selective companies with sustained growth going into next year. From a research perspective, we seek to expose the portfolio to a longer list of names ahead of the 2017 Budget for The Small and Mid-Cap PLC Research Scheme and the government-linked investment companies’ RM3bil special fund to be created to promote the visibility and vibrancy of at least 300 companies. COUNTRY ALLOCATION Industrials 28.22% Malaysia 86.79% Trading / Services 19.61% Cash 13.21% Construction 13.12% Consumer 11.17% IPC 4.76% Technology 4.00% Finance 3.09% Properties 1.92% Plantations Cash Total 0.90% 13.21% 100.00% 100.00% Total TOP HOLDINGS RISK STATISTICS Beta Information Ratio Sharpe Ratio 0.72 1 Success Transformer Corp Malaysia 5.61% 2 Time Dotcom Bhd Malaysia 4.76% 3 Taliworks Corp Bhd Malaysia 4.66% 4 Gadang Holdings Bhd Malaysia 4.56% 5 Heveaboard Bhd Malaysia Total 3.66% 23.25% 0.02 -0.19 3 years monthly data Page 2 of 2