Islamic Income Fund Report - June 2017

Transcription

1. ISLAMIC INCOME FUND JUNE 2017 3-year Fund Volatility 0 .1 Very Low Lipper Analytics 15-May-2017 ALL DATA AS AT 31 MAY 2017 UNLESS OTHERWISE STATED FUND INFORMATION FUND OBJECTIVE Launch Date: 8 February 2007 The Fund seeks to provide liquidity and a steady income stream by investing in Islamic money market instruments and/or Islamic deposits. . Fund Category/Fund Type: Islamic money market/income . . ASSET ALLOCATION Fund Size: RM2,030,761,949.00 . 1. Initial Offer Price: 0.5000 Cash & cash equivalents 100.00% . NAV per Unit: RM0.5203 . EPF Investment Scheme: Yes . FEES, CHARGES AND EXPENSES Annual Management Fee: Up to 0.25% of the NAV per annum * as percentage of NAV. TOP HOLDINGS . Annual Trustee Fee: Up to 0.04% of the NAV per annum subject to a minimum of RM18, 000 per annum . 1. 2. 3. Sales Charge: Nil RHB Islamic Bank Berhad (Placement) CIMB Islamic Bank Berhad (Placement) Bank Islam Malaysia Berhad (Placement) 19.10% 17.67% 16.81% . * as percentage of NAV. Redemption charge: Nil . Redemption Payment Period: Four (4) business days (Note: In the case of Eastspring Investments Islamic Income Fund, redemption is usually paid within the next business day of acceptance of the completed withdrawal documentation) FUND PERFORMANCE Eastspring Investments Islamic Income Fund - Since Inception (SI) Return Vs Benchmark SI % Change . TRANSACTION DETAILS Minimum Initial Investment: Lump Sum: RM50,000* Regular Investment: not available . Minimum Additional Investment: Lump Sum: RM10,000* . * The Manager reserves the right to change the minimum amounts stipulated above from time to time Date . Eastspring Investments Islamic Income Fund DISTRIBUTIONS Benchmark The performance is calculated on NAV-to-NAV basis with gross income or dividend reinvested Income Distribution Policy: At least monthly, subject to the availability of income Source: Lipper for Investment Management. Past performance is not necessarily indicative of future performance. . Fund NAV: 52-Week High 52-Week Low PERFORMANCE TABLE NAV 0.5212 0.5194 Date 14-06-2016 15-03-2017 FUND MANAGER Fund Manager: Eastspring Investments Berhad . Fund 1 month 6 months 1 year 3 years 5 years Since Inception 0.31% 1.78% 3.64% 11.47% 18.43% 33.28% Benchmark * 0.14% 0.87% 1.77% 5.55% 9.18% 22.04% Lipper Ranking 8 of 57 8 of 55 5 of 53 5 of 37 4 of 29 n.a. Lipper Fund Category: Money Market MYR - Islamic . * Maybank Islamic overnight deposit rate Fund performance and Lipper ranking are sourced from Lipper for Investment Management and the benchmark is from www.maybank2u.com.my, 31 May 2017. 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. . 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
2. ISLAMIC INCOME FUND JUNE 2017 ALL DATA AS AT 31 MAY 2017 UNLESS OTHERWISE STATED FUND MANAGER ’S COMMENTARY Interbank short-term rates remained largely unchanged amidst ample liquidity in the market, with overnight and 1-week rates traded at 2.98% to 3.06%, while the 1-month rates traded steadily at 3.17% to 3.18%. In the short-term Bills market, yields across all tenures shifted lower marginally by 2-3bps. Both 1-month and 1-year yields ended the month at 3.04% and 3.13% respectively. . PORTFOLIO CHARACTERISTICS AS AT 31 MAY 2017 Average Duration (years) Value 0.29 Average Yield to Maturity (%) 3.79 Note: This portfolio represents the Fixed Income portion of the Fund. ANNUAL PERFORMANCE FOR THE CALENDAR YEAR ENDED Year 2013 2014 2015 2016 2017 Fund (%) 3.07 3.28 3.80 3.76 - Benchmark (%) 1.65 1.74 1.85 1.82 - 16 Dec, 0.0012 15 Dec, 0.0014 15 Dec, 0.0016 15 Dec, 0.0014 15 May, 0.0014 . . . Date/Distribution (RM) . Distribution Yield (%) . . . . . 0.23 . . . . . 0.27 . . . . . 0.31 . . . . . . . . 0.30 . 0.27 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 28 April 2017, the Volatility Factor (VF) for this Fund is 0.1 and is classified as “Very Low” (Source: Lipper). “Very Low” generally includes funds with VF that are higher than 0.000 but not more than 1.785. 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 2016, the Eastspring Investments First Supplementary Master Prospectus dated 24 November 2016, the Eastspring Investments Second Supplementary Master Prospectus dated 15 March 2017 and the Eastspring Investments Third Supplementary Master Prospectus dated 17 April 2017 (collectively, the "Prospectuses"), as well as the Fund's Product Highlights Sheets (“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 credit or default risk and interest rate 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 . . . .