KAF Dana Adib Fund Report - September 2022

Transcription

1. 19 .54 Very High 10 Sep 2022 KAF DANA ADIB (KDA) SEPTEMBER 2022 The fund aims to attain capital growth in the medium to long-term through investing in securities listed in the Malaysian equities market whilst abiding by Shariah principles. THE FUND IS SUITABLE FOR INVESTORS WHO:    Seek high capital appreciation over a longer period of time and do not expect any dividend or regular income from Shariah-compliant investment; Willing to accept moderate to high risk tolerance; and Prefer to invest in Shariah-compliant securities. SECTOR ALLOCATION* AS AT 31 AUGUST 2022 MANAGER’S COMMENTS Regional markets suffered steep losses in August 2022 (August), with major United States (US) indices such as Dow Jones, Standard & Poor (S&P) 500, and NASDAQ declined by 4.06%, 4.24%, and 4.64% respectively as rate hike angst continue to pile pressure on risk assets. The US Federal Reserve signaled that the central bank would continue to stay on its tightening path to rein in inflation, despite of the short-term pain to consumers and businesses. Meanwhile, STOXX Europe 600 stumbled by 5.29% amid ongoing worries over inflation particularly on high gas and electricity prices. However, Japan’s Nikkei 225 increased by 1.04% in the same period. The Chinese markets fell lower in August, with Hang Seng Composite Index, Shanghai Composite Index, and Shen Zhen Composite Index falling by 1.00%, 1.57%, and 3.91% respectively, as the domestic economy continued to struggle over renewed lockdowns following fresh COVID-19 outbreaks in major cities. Malaysia’s equity indices extended gains in August as the Financial Times Stock Exchange Bursa Malaysia (FBM) Kuala Lumpur Composite Index (KLCI) FBMKLCI Index, FBM EMAS Index, and FBM Emas Shariah Index went up by 1.33%, 0.90%, and 0.73% respectively. Bursa closed higher in August in tandem with better-than-expected Gross Domestic Product (GDP) growth of 8.9%. The average volume traded on the exchange in August increased by 29% month-on-month (MoM) to Ringgit Malaysia (RM) 1.74 billion (bn) from RM1.34bn in the previous month. In commodities, crude oil prices dropped in August by 12.29% to US Dollar (USD) 96.49 per barrel, as recession fear grows continued to dampen the demand. Gold prices fell by 2.61% as the US Treasury yield strengthened. Crude palm oil prices fell by 3.38% in August; Indonesia had lifted a levy on vegetable oil exports until 31st August, aiming to reduce stocks and boost exports. Malaysia's Ringgit depreciated against the USD by 0.55%, closing at RM4.48 at the end of August. *As percentage Net Asset Value of the fund. Asset exposure is subject to change on a daily basis. Source: KAF Investment Funds Berhad. FUND PERFORMANCE ANALYSIS AS AT 31 AUGUST 2022 Net Asset Value prices. Cumulative return over the period (% since inception) The latest manufacturing Purchasing Managers’ Index (PMI) in Asia fell further into the recessionary territory and is unlikely to improve in the coming months as China continues to struggle with its zero-Covid approach. Commodity prices continued to slump in August, driven mainly by weak manufacturing PMI data and inflation data, painting a gloomy outlook for the global economy. We think the near-term outlook for commodities is rather challenging as new export order PMIs in China fell, which has been a reliable leading indicator. Nevertheless, we believe that the downtrend in oil price may be over as Organization of the Petroleum Exporting Countries (OPEC) has indicated that they intend to reduce the oil output to support the oil price; hence we would like to reiterate our optimism toward the outlook of the energy sector. INVESTMENT STRATEGY The strategic limit on asset allocation of the fund is as follows:  Shariah-compliant equities: Minimum 70% and maximum 90%.  Sukuk and Islamic liquid assets : Minimum 10% and maximum 30% FUND DETAILS AS AT 31 AUGUST 2022 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. Universal Trustee (Malaysia) Bhd. Equity (Islamic) Fund. Growth Fund. 25 March 2004. RM0.7973 RM34.059mil 42.716mil 30 April. RM1,000.00 RM100.00 FTSE Bursa Malaysia EMAS Shariah Index (“FBSI”). Up to 6.50% of NAV per unit. None. 1.50% per annum of NAV. 0.07% per annum of NAV. Within 10 days after receipt of the request to repurchase. Income distribution (if any) is incidental. % 1 Month 3 Months KDA 3.30 -3.52 Benchmark 0.73 -6.05 6 Months 1 Year 3 Years 5 Years -5.80 -8.11 33.96 9.58 -10.76 -15.19 -9.22 -15.18 Source: ExNovo Fund Analytics Portal by Novagni Analytics & Advisory Sdn Bhd LARGEST HOLDINGS* AS AT 31 AUGUST 2022 Hibiscus Petroleum Berhad SP Setia Berhad - RCPS-I Rights Tenaga Nasional Berhad Money market (KAF) D&O Green Technologies Berhad 9.52% 6.58% 4.32% 4.15% 4.10% *as percentage of Net Asset Value. Disclaimer: Based on the Malaysian Fund Volatility Report issued by Refinitiv Lipper dated 10 September 2022, the Volatility Factor (VF) for this fund is 19.54 and is classified as “Very High”. “Very High” includes funds with VF that are more than 17.635. The VF means 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 months. 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. 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 Master Prospectus dated 15 January 2017 and its supplementary(ies) (if any) (“the Master Prospectus”) before investing. The Master Prospectus 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 Master Prospectus relates will only be made on receipt of a form of application referred to in the Master Prospectus. For more details, please call 03-2171 0559 for a copy of the PHS and the Master Prospectus or collect one from any of our authorised distributors. The Manager wishes to highlight the specific risks of the fund are specific stock risk and reclassification of Shariah status risk. These risks and other general risks are elaborated in the Master Prospectus. This factsheet is prepared for information purposes only and has not been reviewed by Securities Commission Malaysia. 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