Eastspring Investments Wholesale Sukuk Fund Report - June 2022

Transcription

1. ADVERTISEMENT WHOLESALE SUKUK FUND JUNE 2022 ALL DATA AS AT 31 MAY 2022 UNLESS OTHERWISE STATED FUND INFORMATION FUND OBJECTIVE Launch Date : 27 March 2020 The Fund aims to provide regular income stream* and capital growth over the medium to long term**. * Income distributed to a unit holder will be reinvested into additional units unless unit holder opts for the distribution to be paid out. ** “medium to long term” in this context refers to a period between 3-5 years. . Fund Category/Fund Type: Sukuk/income . Fund Size: RM267,587,930.98 . . Initial Offer Price: RM1.0000 . ASSET ALLOCATION NAV per Unit: RM0.9811 1. 2. . EPF Investment Scheme: Nil NR(Govt) Cash & cash equivalents 84.23% 15.77% . ISIN No: MYU940000CL4 . 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 RM 2 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. 3. Government of Malaysia Danainfra Nasional Berhad Perbadanan Tabung Pendidikan Tinggi Nasional 44.72% 25.14% 5.63% * as percentage of NAV. FUND PERFORMANCE Eastspring Investments Wholesale Sukuk 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 Investments: Lump Sum: RM 1 million* Regular Investment: not available . Minimum Additional Investment: Lump Sum: RM 1 million* Date . * The Manager reserves the right to change the minimum amounts stipulated above from time to time . Eastspring Investments Wholesale Sukuk 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. DISTRIBUTIONS Income Distribution Policy: Subject to the availability of income, income distribution will be declared at least on a quarterly basis PERFORMANCE TABLE 1 month 6 months 1 year 3 years 5 years Since Inception Fund 0.97% -0.84% -0.85% n.a. n.a. 0.91% Benchmark * 0.14% 0.76% 1.51% n.a. n.a. 3.32% Lipper Ranking 4 of 62 29 of 61 33 of 48 n.a. n.a. n.a. . Fund NAV: 52-Week High 52-Week Low NAV 1.0129 0.9662 Date 23-06-2021 09-05-2022 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 Lipper Fund Category: Bond MYR & Islamic * Maybank 1-month Islamic Fixed Deposit-i Fund performance and Lipper ranking are sourced from Lipper for Investment Management and the benchmark is from www.maybank2u.com.my, 31 May 2022. 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.
2. ADVERTISEMENT WHOLESALE SUKUK FUND JUNE 2022 ALL DATA AS AT 31 MAY 2022 UNLESS OTHERWISE STATED FUND MANAGER ’S COMMENTARY Malaysia posted a stronger-than-expected 1Q2022 GDP growth of 5.0% YoY (4Q2021: +3.6% YoY) as commendable performance of Services (+6.5% YoY) and Manufacturing (+6.6% YoY), following the re-opening of economy, helped offset the weak performance delivered by Mining (-1.1% YoY) and Construction (-6.2% YoY). By expenditure, domestic demand strengthened sharply at 4.4% YoY (4Q2021: +1.9% YoY), underpinned by strong public and private consumption. Despite the strong 1Q2022 performance, BNM maintains its GDP and inflation forecasts of 5.3% to 6.3% and 2.2% to 3.2% respectively for 2022. BNM surprised the market with a 25bps OPR hike at its May 2022 MPC meeting, bringing the policy rate to 2.00%. The central bank also signalled more hikes, to be done in a measured and gradual manner, given the firmer footing of domestic growth, which in turn is supported by strengthening demand, sustained exports and a stronger labour market. On the global front, BNM noted the sustained re-opening of global economy and improving labour market conditions have helped cushion the Ukraine crisis and lockdowns in China. It also expects inflation pressures to cause central banks to adjust their monetary policy at a faster pace. That said, BNM indicated that risks to growth remain, which include weaker global growth and further escalation of geopolitical conflicts, worsening supply chain disruptions and adverse developments surrounding Covid-19. . PORTFOLIO CHARACTERISTICS AS AT 31 MAY 2022 Average Duration (years) Value 3.70 Average Yield to Maturity (%) 3.59 Note: This portfolio represents the Fixed Income portion of the Fund. OTHER INFORMATION ABOUT THE FUND Year . Annual Fund Performance (%) . Annual Benchmark Performance (%) . . . 2021 . . . . . . . . . . . . . . . . . . -0.55 . 1.50 . . Date/Distribution (RM) . 30 Sept, 0.004 30 Dec, 0.0100 . Distribution Yield (%) . 0.40 1.00 . 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 Investors are advised to read and understand the contents of the Eastspring Investments Wholesale Sukuk Fund ("Fund") Information Memorandum dated 27 March 2020, the Fund's First Supplementary Information Memorandum dated 10 July 2020, the Fund's Second 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 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 Fund is not an indication of the 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 Memo, 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. Eastspring Investments ("Eastspring") is an ultimately wholly owned subsidiary of Prudential plc. Prudential plc, is 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 . .