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Eastspring Investments Wholesale Sukuk Extra Fund Report - December 2021

IM Insights
By IM Insights
4 months ago
Eastspring Investments Wholesale Sukuk Extra Fund Report - December 2021


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  1. ADVERTISEMENT WHOLESALE SUKUK EXTRA FUND DECEMBER 2021 ALL DATA AS AT 30 NOVEMBER 2021 UNLESS OTHERWISE STATED FUND INFORMATION FUND OBJECTIVE Launch Date : 28 May 2021 The Fund aims to provide regular income stream* and capital growth to unit holders. Fund Category/Fund Type: Sukuk/income * Income distributed to a unit holder will be reinvested into additional units unless unit holder opts for the distribution to be paid out. . . Fund Size: RM18,830,977.88 . . Initial Offer Price: RM1.0000 . ASSET ALLOCATION NAV per Unit: RM1.0016 1. 2. 3. . EPF Investment Scheme: Nil . Cash & cash equivalents AAA AA3 61.67% 27.58% 10.75% ISIN No: MYU0100A0476 . FEES, CHARGES AND EXPENSES Annual Management Fee: Up to 0.50% of the NAV per annum . Annual Trustee Fee: NAV of the Fund of up to RM2 billion: 0.03% of the Fund's NAV per annum subject to a minimum of RM15,000 per annum (excluding foreign custodian fees and charges) NAV of the Fund of above RM2 billion: 0.015% of the Fund's NAV per annum subject to a minimum of RM15,000 per annum (excluding foreign custodian fees and charges) * as percentage of NAV. TOP HOLDINGS 1. 2. Bank Simpanan Nasional Berhad BGSM Management Sdn Bhd 16.92% 10.75% * as percentage of NAV. FUND PERFORMANCE Eastspring Investments Wholesale Sukuk Extra Fund - Since Inception (SI) Return Vs Benchmark . Sales Charge: Nil . Redemption charge: Nil Redemption Payment Period: Ten (10) calendar days . TRANSACTION DETAILS SI % Change . Minimum Initial Investment: Lump Sum: RM100,000* Regular Investment: not available "Not available as the fund performance N/A is less than one year" . Minimum Additional Investment: Lump Sum: RM100,000* Date . * The Manager reserves the right to change the minimum amounts stipulated above from time to time . Eastspring Investments Wholesale Sukuk Extra Fund Source: Lipper for Investment Management. Past performance is not necessarily indicative of future performance. DISTRIBUTIONS Income Distribution Policy: Subject to the availability of income, distribution of income, if any, will be on quarterly basis PERFORMANCE TABLE 1 month . Fund NAV: 52-Week High 52-Week Low Benchmark The performance is calculated on NAV-to-NAV basis with gross income or dividend reinvested 6 months 1 year 3 years 5 years Fund NAV n.a. n.a. Date n.a. n.a. FUND MANAGER Fund Manager: External Investment Manager Eastspring Al-Wara' Investments Berhad . 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 Benchmark * Lipper Ranking * Maybank 1-month Islamic Fixed Deposit-i . "Not available as the fund performance is less than one year" Since Inception
  2. ADVERTISEMENT WHOLESALE SUKUK EXTRA FUND DECEMBER 2021 ALL DATA AS AT 30 NOVEMBER 2021 UNLESS OTHERWISE STATED FUND MANAGER ’S COMMENTARY Malaysia’s high vaccination rate has allowed the resumption of economic activities , including the re-opening of its borders, to continue. After reaching agreements with Singapore and Indonesia to allow quarantine- free air travel via the Vaccinated Travel Lane (“VTL”) scheme involving Kuala Lumpur, Singapore, Jakarta and Bali, Malaysia is currently in discussion with the UK on a similar arrangement. Both Singapore and Malaysia have also agreed for the VTL on land to take effect simultaneously from 29 Nov. Meanwhile, Malaysia may re-open its borders to international travellers by 1 Jan 2022, a positive development to the tourism sector although infection control measures will remain in place. Malaysia’s 3Q2021 GDP contracted by 4.5% YoY (2Q2021: +16.1% YoY), adversely affected by the re-imposition of stricter containment measures during the quarter. However, economic activities and the labour market have improved at the end of the quarter following the gradual relaxation of restrictive measures. Notably, unemployment rate declined further to 4.5% in Sep 2021 (Aug 2021: 4.6%) while total employment hit another new record high to 15.46m. Separately, Bank Negara Malaysia assured market that Malaysia is not facing stagflation and its monetary policy will continue to be data dependent. Malaysia’s sovereign yield curve ended flatter in Nov 2021. The yields of the 3-, 5-, 10- and 15-year MGS declined 1bp, 7bps, 7bps and 17bps respectively to close the month at 2.67%, 3.12%, 3.51% and 3.86% respectively. Similarly, the MGII curve also closed flatter with the 3-year MGII ended the month unchanged at 2.76% while the yields of the 5-, 10 and 15-year MGII fell 9bps, 16bps and 20bps to close at 3.10%, 3.56% and 3.99% respectively. . OTHER INFORMATION ABOUT THE FUND Year - - - - - Annual Fund Performance (%) - - - - - Annual Benchmark Performance (%) Date/Distribution (RM) "Not available as the fund performance is less than one year" - - - - - Distribution Yield (%) - - - - - Source: n.a. IMPORTANT INFORMATION Investors are advised to read and understand the contents of the Eastspring Investments Wholesale Sukuk Extra Fund (“Fund”) Information Memorandum dated 28 May 2021, the Eastspring Investments Wholesale Sukuk Extra Fund First Supplementary Information Memorandum dated 8 October 2021 (collectively, the “Info Memos”) and the Fund’s Product Highlights Sheet (“PHS”) before investing. The Info Memos and PHS are available at offices of Eastspring Investments Berhad (“Manager”) or its authorised distributors and investors have the right to request for a copy of the Info Memos and PHS. This advertisement has not been reviewed by the Securities Commission Malaysia ("SC"). The Info Memos have been deposited with the SC who takes no responsibility for its contents. The lodgement of Info Memos 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. Past performance of the Manager/Fund is not an indication of the Manager's/Fund's future performance. Unit prices and distributions 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, counterparty risk, interest rate risk, income distribution risk and Shariah status reclassification risk. Investors are advised to consider these risks and other general risks as elaborated in the Info Memos, as well as the 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 . .