KAF Australia Islamic Property Fund Report - May 2017

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1. KAF AUSTRALIA ISLAMIC PROPERTY FUND (KAIPF-MYR) MAY 2017 The fund aims to provide income^ and capital growth by investing in one target fund i.e. must be Shariah-compliant. Note : ^ Please refer to the Fund’s distribution policy. THE FUND IS SUITABLE FOR SOPHISTICATED INVESTORS WHO: • • • SECTOR ALLOCATION* AS AT 30 APRIL 2017 Seek regular income payments ; Want a high degree of property and infrastructure exposure ; and Have at least a 5-years investment outlook. MANAGER’S COMMENTS The Fund increased by 2.8% over April, outperforming the broader market for the period. Increasing global uncertainty, especially around North Korea, was the dominant theme during April, with AUD 10-year bond yields rallying by 12bpts during the month as a result. This has also resulted in a significant reversal of the ‘reflation trade’ that dominated markets over the last part of 2016, with defensive sectors such as Australian Real Estate Investment Trusts (AREITs) and infrastructure among the key beneficiaries. The main news flow across the AREIT sector during April centred on a number of quarterly updates. Looking forward, uncertainty continues to be one of the only certainties confronting investors. The recent decision by the Reserve Bank of Australia (RBA) to again keep interest rates on hold and the increasing rhetoric surrounding the sustainability of house prices domestically is receiving increasing airtime. Meanwhile, globally, the French election, the ability of Trump to gain White House support for his policies and the ongoing uncertainty around North Korea will have implications for markets. Against this backdrop, we expect AREITS and Infrastructure will continue to maintain investor support given their highly predictable earnings outlook. *As percentage of NAV. Asset exposure is subject to change on a daily basis. Source: Crescent Wealth. ASSET CLASS ALLOCATION AS AT 30 APRIL 2017 *As percentage of NAV. Asset exposure is subject to change on a daily basis. Source: Crescent Wealth. Distribution History (AUD) INVESTMENT STRATEGY The Fund’s portfolio will be structured as follows: • At least 95% of NAV : Investments in units of Crescent DPF. • 2% to 5% of NAV : Investments in Islamic liquid assets including Islamic money market instruments and Islamic deposits with financial institutions. Year 2016 2017 Distribution (cents) 1.35 FUND PERFORMANCE ANALYSIS AS AT 30 APRIL 2017 NAV - NAV prices. Cumulative return over the period (%) FUND DETAILS AS AT 30 APRIL 2017 Manager Trustee Fund Category Fund Type Launch Date Unit net asset value (NAV) Fund size Units in Circulation Financial Year End Min. Initial Investment Min. Additional Investment Benchmark Sales Charge Repurchase Charge Annual management fee Annual trustee fee Redemption payment period Distribution policy KAF Investment Funds Bhd. CIMB Islamic Trustee Berhad. Wholesale feeder (Shariah-compliant). Income and growth. 1 August 2016 RM1.0189 RM 22.835mil 22.412mil 31 July. RM10,000.00 RM1,000.00 Reserve Bank of Australia Cash Rate plus 3%. Up to 5.00% of NAV per Unit. None. 1.80% per annum of NAV of the respective Class before deducting the manager’s and Trustee’s fees for that particular day. 0.05% per annum of NAV, subject to a minimum fee of RM12,000 per annum (excluding foreign custodian fees and charges. Within 10 days after receipt of the request to repurchase. The Fund will distribute income on a half yearly basis, subject to the availability of income and/or realized gains. % 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years KAIPF-MYR -1.57 3.91 8.17 N/A N/A N/A Benchmark 0.34 1.05 2.18 N/A N/A N/A Source: ExNovo Fund Analytics Portal by Perkasa Normandy Managers Sdn Bhd LARGEST HOLDINGS* AS AT 30 APRIL 2017 Unlisted Property Mirvac Group Macquarie Atlas Roads Group Folkestone Education Trust Stockland Property Trust 21.80% 15.20% 15.10% 11.40% 9.30% *as percentage of NAV. Disclaimer: A Product Highlights Sheet (“PHS”) highlighting the key features and risks of the Fund is available and investors have the right to request for a PHS. Investors are advised to obtain, read and understand the PHS and the contents of the Information Memorandum dated 1 August 2016 and its supplementary(ies) (if any) (“the Information Memorandum”) before investing. The Information Memorandum has been registered with the Securities Commission Malaysia who takes no responsibility for its contents. Amongst others, investors should consider the fees and charges involved. Investors should also note that the price of units 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 NAV per unit will be reduced from pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, investors should be highlighted of the fact that the value of their investment in Malaysian Ringgit will remain unchanged after the distribution of the additional units. Any issue of units to which the Information Memorandum relates will only be made on receipt of a form of application referred to in the Information Memorandum. For more details, please call 03-2171 0559 for a copy of the PHS and the Information Memorandum or collect one from any of our authorised distributors. The Manager wishes to highlight the specific risks of the Fund are fund management risk, currency risk and country risk. These risks and other general risks are elaborated in the Information Memorandum.This factsheet is prepared for information purposes only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive it. Past performance is not necessarily a guide for future performance. Returns may vary from year to year. Head Office: Level 11, Chulan Tower, No. 3, Jalan Conlay, 50450 Kuala Lumpur General Line: (603)-2171 0559 Fax: (603)-2171 0583 Website: www.kaf.com.my