Eastspring Investments ASEAN Al-Adiil Fund Report - February 2018

Transcription

1. ASEAN AL-ADIIL FUND FEBRUARY 2018 3-year Fund Volatility 5 .0 Low Lipper Analytics 15-Jan-2018 ALL DATA AS AT 31 JANUARY 2018 UNLESS OTHERWISE STATED FUND INFORMATION FUND OBJECTIVE Launch Date: 28 October 2013 The Fund seeks to provide capital appreciation and income by investing in Shariah-compliant securities in the ASEAN markets. . Fund Category/Fund Type: Balanced (Shariah)/growth and income . . ASSET ALLOCATION Fund Size: RM4,322,116.41 . Initial Offer Price: 0.5000 1. 2. 3. 4. 5. 6. . NAV per Unit: RM0.5951 . EPF Investment Scheme: Nil . FEES, CHARGES AND EXPENSES AA3 Industrials Basic Materials AA2 AA2 (S) Financials 30.42% 29.01% 14.20% 11.61% 7.41% 6.95% 7. Telecommunications 8. Technology 9. Health care 10. Energy 11. Consumer Goods 12. Cash & cash equivalents 71.44% 14.38% 13.12% 4. Philippines 5. Singapore 6.07% 5.38% 4.83% 1.48% 0.81% -18.17% * as percentage of NAV. . Annual Management Fee: Up to 1.80% of the NAV per annum . Annual Trustee Fee: Up to 0.08% of the NAV per annum, subject to a minimum of RM18,000 per annum (excluding foreign custodian fees and charges) COUNTRY ALLOCATION 1. 2. 3. . Malaysia Thailand Indonesia 10.25% 8.98% Sales Charge: Up to 5.50% of the NAV per Unit . Redemption charge: Nil . Redemption Payment Period: Ten (10) calendar days * as percentage of NAV. . . TOP HOLDINGS TRANSACTION DETAILS Equity Holdings Minimum Initial Investment: Lump Sum: RM1,000* Regular Investment: RM100 . Minimum Additional Investment: Lump Sum & Regular Investment: RM100* . * The Manager reserves the right to change the minimum amounts stipulated above from time to time 1. 2. 3. 4. 5. Bond Holdings Airports Of Thailand Public Co Ltd D&L Industries Inc. Ayala Land Inc. PT Semen Indonesia (Persero) Tbk KCE Electronics Public Co Ltd . 8.45% 5.48% 4.77% 4.27% 3.94% 1. Tanjung Bin Energy Issuer Berhad 2. UMW Holdings Berhad 3. Perbadanan Kemajuan Negeri Selangor 4. Mukah Power Generation Sdn Bhd 5. BGSM Management Sdn Bhd 11.74% 11.61% 11.59% * as percentage of NAV. DISTRIBUTIONS Income Distribution Policy: At least once a year, subject to the availability of income FUND PERFORMANCE Eastspring Investments ASEAN Al-Adiil Fund - Since Inception (SI) Return Vs Benchmark Fund NAV: 52-Week High 52-Week Low NAV 0.6076 0.5762 Date 09-01-2018 11-08-2017 SI % Change . FUND MANAGER Fund Manager: Eastspring Investments Berhad . Date Eastspring Investments ASEAN Al-Adiil Fund Benchmark The performance is calculated on NAV-to-NAV basis with gross income or dividend reinvested Source: Lipper for Investment Management. Past performance is not necessarily indicative of future performance. Eastspring Investments Berhad (531241-U) Level 12, Menara Prudential, 10, Jalan Sultan Ismail, 50250 Kuala Lumpur. Tel: 603 - 2332 1000 Fax: 603 - 2052 3366 E-mail: cs.my@eastspring.com 7.41% 7.09%
2. ASEAN AL-ADIIL FUND FEBRUARY 2018 ALL DATA AS AT 31 JANUARY 2018 UNLESS OTHERWISE STATED PERFORMANCE TABLE Fund Benchmark * Lipper Ranking 1 month 6 months 1 year 3 years 5 years Since Inception -0.37% 1.74% 4.86% 16.08% n.a. 30.33% 0.39% 0.98% 4.36% 9.19% n.a. 17.68% 4 of 4 4 of 4 4 of 4 4 of 4 n.a. n.a. Lipper Fund Category: Mixed Asset MYR Bal - Global The number of funds within the category should be at least five for a meaningful assessment . *50% Dow Jones Islamic Market (DJIM) ASEAN Index + 50% Maybank 12- month General Investment Account (GIA) Fund performance and Lipper ranking are sourced from Lipper for Investment Management and benchmark is from www.djindexes.com and www.maybank2u.com.my, 31 January 2018. Performance is calculated on a Net Asset Value ("NAV") to NAV basis with gross income or dividend reinvested . Past performance is not necessarily indicative of future performance. . LIPPER LEADERS RATING (OVERALL) Total Return Consistent Return Preservation 2 2 4 Lipper Leaders Key Lowest Highest 1 5 The Lipper Leaders Ratings System is a set of tools that guide investors and their advisors to select funds that suit individual investment styles and goals. It uses investors-centred criteria to deliver a simple, clear description of a fund's success in meeting certain goals, such as preserving capital or building wealth through consistent strong returns. Lipper Leader ratings are derived from highly sophisticated formulas that analyse funds against clearly defined criteria. Each fund is ranked against its peers based on the metric used (such as Total Return or Expense), and then the top 20% of funds in that ranking receive the Lipper Leader designation. Lipper Leaders measures are not predictive of future performance, but they do provide context and perspective for making knowledgeable fund investment decisions. FUND MANAGER’S COMMENTARY Equity: During the month, the Fund fell 0.37% and underperformed the benchmark by 76bps mainly due to poor stock selection in the real estate and technology sectors along with a negative cash drag. All ASEAN equity markets rallied strongly during the month whereby Thailand was the best performing ASEAN market during the month , with the Stock Exchange of Thailand Index up 4.17%. Outperformance of Thailand was led by its heavy weighting of energy stocks , as Brent crude prices rose during the month. The other ASEAN markets also saw strong gains in respective indices with Malaysia’s FTSE Bursa Malaysia Index ("FBM") FTSE 100 (+3.56%), Singapore’s STI (+3.85%), Indonesia’s JCI (+3.93%) and Philippines’ PSei (+2.40%). Fixed Income: As expected, the US Federal Reserve (“Fed”) kept its federal funds rate unchanged at 1.25%-1.50%. The final Federal Open Market Committee (“FOMC”) statement issued under chair Janet Yellen sounded more upbeat on the economy and more aggressive inflation expectations . Meanwhile, the FOMC expects inflation on a 12-month basis to move up in 2018 and to stabilise around the Committee's 2.0% objective over the medium term. On the domestic front, as largely expected, BNM raised the Overnight Policy Rate (“OPR”) by 25 bps to 3.25% in the January Monetary Policy Committee (“MPC”) meeting as a pre-emptive move to its assessment of growth remaining strong in 2018. As Bank Negara Malaysia (“BNM”) continues to expect strong growth in 2018 on the back of stronger global growth and domestic demand, we expect BNM’s action to be skewed towards another rate hike in 2018 with timing being data dependent. Meanwhile, domestic corporate bond market is expected to see better supply in the pipeline in the coming months as issuers are rushing to tap the market in expectation of rising interest rates. That said, we expect demand for corporate bonds to remain well supported. . ANNUAL PERFORMANCE FOR THE CALENDAR YEAR ENDED Year . Fund (%) . Benchmark (%) . Date/Distribution (RM) . Distribution Yield (%) . . . . . . 2014 2015 2016 2017 8.84 10.05 3.67 5.54 5.61 2.11 3.82 4.93 - - 27 Jun, 0.0264 23 Jun, 0.0269 - - 4.50 . . . . . . . . . . . . . . . . . . . 4.50 Source: Distribution and Distribution Yield are sourced from the fund 's Annual Report. Fund and Benchmark for current year are based on Year to Date (YTD) figures which is sourced from Lipper for Investment Management. Past performance is not necessarily indicative of future performance. . IMPORTANT INFORMATION Based on the Fund’s portfolio returns as at 29 December 2017, the Volatility Factor (VF) for this Fund is 5.0 and is classified as “Low” (Source: Lipper). “Low” generally includes funds with VF that are higher than 1.785 but not more than 6.045. The VF means that 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 (6) months. The VF for the Fund may be higher or lower than the VC, depending on the market conditions. 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. Investors are advised to read and understand the contents of the Eastspring Investments Master Prospectus dated 15 July 2017, the Eastspring Investments First Supplementary Master Prospectus dated 2 February 2018 (collectively, the "Prospectuses"), as well as the Fund's Product Highlights Sheet (“PHS”) before investing. The Prospectuses and PHS are available at offices of Eastspring Investments Berhad or its authorised distributors and investors have the right to request for a copy of the Prospectuses and PHS. The Prospectuses have been registered with the Securities Commission Malaysia who takes no responsibility for its contents . Units will only be issued upon receipt of the application form accompanying the Prospectuses. Past performance of the Fund is not an indication of the Fund's future performance. Unit prices and distribution payable, if any, may go down as well as up. Where a unit split/distribution is declared, investors are advised that following the issue of additional units/distribution, the Net Asset Value (“NAV”) per unit will be reduced from pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV. Where a unit split is declared, investors are advised that the value of their investment in Malaysian Ringgit will remain unchanged after the issue of the additional units. Investments in the Fund are exposed to security risk, credit or default risk, counterparty risk, interest rate risk, countries or foreign securities risk, currency risk and reclassification of Shariah status risk. Investors are advised to consider these risks and other general risks as elaborated in the Prospectuses as well as fees, charges and expenses involved before investing. All fees, charges and expenses payable by the unit holder are subject to Goods and Services Tax (“GST”) at a rate of 6% or such other prescribed rate as may be imposed from time to time, and incurred by the unit holder directly when purchasing or redeeming units of the Fund and indirectly when investing in the Fund. The fees, charges and expenses disclosed are exclusive of GST or any other taxes or duties that may be imposed by the government or other authorities from time to time . Eastspring Investments companies (excluding JV companies) are ultimately wholly owned/indirect subsidiaries of Prudential plc of the United Kingdom. Eastspring Investments companies (including JV companies) and Prudential plc are not affiliated in any manner with Prudential Financial , Inc., a company whose principal place of business is in the United States of America. . .