Eastspring Investments Dana al-Islah Fund Report - November 2021

Transcription

1. ADVERTISEMENT DANA AL-ISLAH NOVEMBER 2021 3-year Fund Volatility 5 .4 Low Lipper Analytics 10-Nov-2021 ALL DATA AS AT 31 OCTOBER 2021 UNLESS OTHERWISE STATED FUND INFORMATION FUND OBJECTIVE Launch Date: 14 August 2002 The Fund seeks to provide investors with a stable income stream and an opportunity for capital appreciation from Shariah-compliant fixed income and equity securities. . Fund Category/Fund Type: Sukuk/income . . Fund Size: RM45,750,251.64 ASSET ALLOCATION . Initial Offer Price: 0.5000 1. . NAV per Unit: RM0.7994 2. 3. 4. 5. 6. 7. . EPF Investment Scheme: Yes . ISIN No: MYU940000AF0 . FEES, CHARGES AND EXPENSES Annual Management Fee: Up to 1.25% of the NAV per annum Unquoted Fixed Income Securities Technology Consumer Property Manufacturing Cash & cash equivalents Automotive 72.71% 10.23% 3.63% 2.44% 2.01% 1.92% 1.30% 8. 9. 10. 11. 12. 13. Health Care Telecommunication Power / Utilities Oil and Gas Conglomerate Banking & Finance 1.27% 1.08% 1.04% 0.86% 0.77% 0.74% * as percentage of NAV. TOP HOLDINGS . Annual Trustee Fee: Up to 0.07% of the NAV per annum subject to a minimum of RM18,000 per annum . Sales Charge: Direct: Up to 3.00% of the NAV per Unit . EPF: e-PPA: 3.0% of the NAV per Unit i-Invest: 0.5% of NAV per Unit Equity Holdings 1. 2. 3. 4. 5. Bond Holdings Inari Amertron Berhad Genetec Technology Berhad Malaysian Pacific Industries Berhad Mr D.I.Y. Group (M) Berhad D And O Green Technologies Berhad 2.32% 1.82% 1.40% 1.34% 1.32% 1. 2. 3. 4. 5. Government of Malaysia Danainfra Nasional Berhad BGSM Management Sdn. Berhad Pelabuhan Tanjung Pelepas Sdn. Berhad Kuala Lumpur Kepong Berhad 22.44% 18.11% 5.74% 5.36% 4.44% * as percentage of NAV. . FUND PERFORMANCE Redemption charge: Nil . Eastspring Investments Dana al-Islah - Since Inception (SI) Return Vs Benchmark Redemption Payment Period: Ten (10) calendar days . Minimum Initial Investment: Lump Sum: RM1000* Regular Investment: RM100* . Minimum Additional Investment: Lump Sum & Regular Investment: RM100* SI % Change TRANSACTION DETAILS . * The Manager reserves the right to change the minimum amounts stipulated above from time to time . Date DISTRIBUTIONS Eastspring Investments Dana al-Islah Income Distribution Policy: At least once a year, subject to the availability of income 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. . Fund NAV: 52-Week High 52-Week Low NAV 0.8088 0.7725 Date 03-03-2021 20-05-2021 FUND MANAGER Fund Manager: External Investment Manager: Eastspring Al-Wara’ Investments Berhad . PERFORMANCE TABLE 1 month 6 months 1 year 3 years 5 years Since Inception Fund 0.87% 2.42% 6.19% 19.20% 27.80% 194.79% Benchmark * 0.23% -0.58% 0.70% 11.12% 15.23% 111.62% 1 of 6 2 of 6 2 of 6 2 of 6 2 of 5 n.a. Lipper Ranking Lipper Fund Category: Mixed Asset MYR Conservative - Islamic The number of funds within the category should be at least five for a meaningful assessment . * 78% Quant Shop Malaysian Government Securities (MGS) Short Index + 22% Financial Times Stock Exchange Bursa Malaysia Emas Shariah Index (FBMS) Fund performance and Lipper ranking are sourced from Lipper for Investment Management and the benchmark is from www.quantshop.com and www.bursamalaysia.com, 31 October 2021. 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) Eastspring Investments Berhad 200001028634 (531241-U) Level 22, Menara Prudential, Persiaran TRX Barat, 55188 Tun Razak Exchange, Kuala Lumpur Tel: 603 - 2778 3888 E-mail: cs.my@eastspring.com Web: www.eastspring.com/my Total Return Consistent Return Preservation 5 5 5 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.
2. ADVERTISEMENT DANA AL-ISLAH NOVEMBER 2021 ALL DATA AS AT 31 OCTOBER 2021 UNLESS OTHERWISE STATED FUND MANAGER ’S COMMENTARY Malaysia lifted interstate travel restriction for fully vaccinated individuals from 11 Oct 2021 after 90% of the country’s adult population were fully inoculated . With the improved situation, the country is ready to enter the endemic phase by following the footsteps of neighbouring countries to re-open its borders to qualified international travellers. Notably, fully vaccinated foreign tourists are allowed to visit Langkawi without having to undergo a quarantine from 15 Nov onwards although they are required to have sufficient insurance coverage . Meanwhile, Indonesia and Malaysia will hold talks for a mutual recognition of vaccination certificates through the respective country’s monitoring apps , MySejahtera and PeduliLindungi. Malaysia unveiled another expansionary budget for 2022 (“Budget”) focusing on strengthening recovery, building resilience and driving reforms in end-Oct 2021. Specifically, the economy is projected to grow 3% to 4% in 2021 and 5.5% to 6.5% in 2022, underpinned by higher public and private investments, consumer spending and healthy net exports. Malaysia is expected to record a fiscal deficit of 6% of GDP (2021E: 6.5%) and a higher debt-to-GDP of 63.4% in 2022 (2021E: 61.1%), albeit still below the 65% debt ceiling. The Budget also laid out measures to attract quality investment as well as accelerate digital adoption towards achieving sustainable development goals. Having said that, the announcement of the one- off “Cukai Makmur” (“CM”), which is expected to allow Malaysia to collect at least RM3b more revenue, was a major negative surprise. It is also worth noting that the government has announced the issuance of a Ringgit-denominated Sustainability Sukuk of up to RM10b in the Budget. Bank Negara Malaysia (“BNM”) kept its Overnight Policy Rate unchanged at a record low of 1.75% at its Nov 2021 Monetary Policy Committee meeting. Overall, the tone of the policy statement appeared less dovish. Externally, BNM noted that global economy remained on the recovery path and growth prospects will be supported by progress in vaccination coverage and relaxation of restrictions. Domestically, BNM noted that economic activity had weakened in 3Q2021 amid the re-imposition of nation-wide lockdown but has since recovered from the trough in Jul 2021. Also, BNM expects stronger external demand as well as higher private sector expenditure to spur Malaysia’s growth going into 2022. Moreover, BNM expects inflation to average within its projected range of 2.0% to 3.0% for 2021 but warned that the outlook is subject to global commodity prices and prolonged supply-related disruptions. Malaysia’s sovereign yield curve moved higher in Oct 2021. The yields of the 3-, 5-, 10- and 15-year MGS rose 25bps, 27bps, 21bps and 14bp respectively to close the month at 2.68%, 3.19%, 3.58% and 4.03% respectively. Similarly, the MGII curve also moved higher with the 3-, 5-, 10 and 15-year MGII increasing 19bps, 20bps, 27bps and 21bps to close at 2.75%, 3.19%, 3.72% and 4.19% respectively. . PORTFOLIO CHARACTERISTICS AS AT 31 OCTOBER 2021 Average Duration (years) Value 3.37 Average Yield to Maturity (%) 3.17 Note: This portfolio represents the Fixed Income portion of the Fund. OTHER INFORMATION ABOUT THE FUND Year 2017 2018 2019 2020 2021 Annual Fund Performance (%) 6.11 1.03 3.41 12.05 - Annual Benchmark Performance (%) 5.65 -0.66 4.38 6.51 - 24 Mar, 0.0292 26 Mar, 0.0298 18 Mar, 0.0285 - 18 Mar, 0.0241 . . . . . . . . . . . . . . . . . . Date/Distribution (RM) . Unit Split . . . . . - - - - - Distribution Yield (%) 4.13 4.17 4.14 - 3.01 12-Month FD Average (MBB%) 3.10 3.35 3.18 2.18 - . . . . . . . . . . . . . . . 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. AWARDS Refinitiv Lipper Fund Awards 2021 Mixed Asset MYR Conservative - Malaysia Provident Funds, 10 years Announced on 17 April 2021. Refinitiv Lipper Fund Awards, ©2021 Refinitiv. All rights reserved. Used under license. The grantors of the awards are not related to Eastspring Investments Berhad ("Eastspring"). Past performance of the fund/Eastspring is not indicative of future performance. . . .
3. ADVERTISEMENT DANA AL-ISLAH NOVEMBER 2021 ALL DATA AS AT 31 OCTOBER 2021 UNLESS OTHERWISE STATED IMPORTANT INFORMATION Based on the Fund ’s portfolio returns as at 31 October 2021, the Volatility Factor (VF) for this Fund is 5.4 and is classified as “Low” (Source: Lipper). “Low” generally includes funds with VF that are higher than 4.265 but not more than 10.84. 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. 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, the Eastspring Investments Second Supplementary Master Prospectus dated 31 October 2018, the Eastspring Investments Third Supplementary Master Prospectus dated 2 January 2019, the Eastspring Investments Fourth Supplementary Master Prospectus dated 1 August 2019, the Eastspring Investments Fifth Supplementary Master Prospectus dated 1 October 2020 (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. This advertisement has not been reviewed by the Securities Commission Malaysia ("SC"). The Prospectuses have been registered with the SC who takes no responsibility for its contents. The registration of Prospectuses with the SC does not amount to nor indicate that the SC has recommended or endorsed the product. 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 credit or default risk, interest rate risk, security 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. Investors may also wish to seek advice from a professional adviser before making a commitment to invest in units of any of our funds. Prudential plc, incorporated and registered in England and Wales . Registered office: 1 Angel Court, London EC2R 7AG. Registered number 1397169. Prudential plc is a holding company, some of whose subsidiaries are authorized and regulated, as applicable, by the Hong Kong Insurance Authority and other regulatory authorities. Prudential plc is not affiliated in any manner with Prudential Financial , Inc., a company whose principal place of business is in the United States of America or with the Prudential Assurance Company Limited , a subsidiary of M&G plc. A company incorporated in the United Kingdom . .