Kenanga Islamic Cash Fund Report - July 2022

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1. July 2022 Market Review and Outlook Money Market Review Bank Negara Malaysia (BNM) expects domestic growth recovery to strengthen in 2022, driven by growing global demand and higher private sector expenditure following further easing of restrictions and the reopening of international borders. However, the risk to growth remains, stemming from weaker global growth, geopolitical conflicts, supply chain disruptions and adverse Covid-19 developments. Meanwhile, domestic headline inflation for May rose to 2.8% year-on-year (y-o-y) (expected: 2.7%; April: 2.3%), mainly due to rising food costs and partly due to seasonal demand effects i.e. Ramadhan and Hari Raya Aidilfitri. The international reserves of BNM stood at USD109.2 billion as at 15th June 2022. The reserves position is sufficient to finance 5.5 months of imports of goods and services and is 1.1 times total short-term external debt. Money Market Outlook The Malaysian economy is projected to grow between 5.3%-6.3% in 2022 (2021: 3.1%) and headline inflation to average between 2.2%-3.2% (2021: 2.5%). On the local monetary policy stance, BNM is expected to continue to normalise monetary policy in view of the positive economic growth outlook. Nevertheless, BNM reiterated that any monetary policy tightening measures will be done in a measured and gradual manner Money Market Fund Strategy Kenanga Investors Berhad Company No: 199501024358 Level 14, Kenanga Tower 237, Jalan Tun Razak 50400 Kuala Lumpur Tel: 03-2172 3000 Toll Free: 1800-88-3737 www.kenangainvestors.com.my The Fund will continue to invest in Shariah-based deposits. The investment strategy will involve actively managing the maturities of each investment to the extent possible to enhance the returns of the Fund. The Fund will also be actively managed to meet potential liquidity requirements of the Fund. 1 Strictly for Clients of Kenanga Investors Berhad
2. 3-year Fund Volatility Kenanga Islamic Cash Fund 0 .3 Very Low July 2022 Lipper Analytics 10 Jun 2022 FUND PERFORMANCE (%) FUND OBJECTIVE The Fund seeks to provide Investors with regular income stream while maintaining capital stability. % Cumulative Return, Launch to 30/06/2022 25 20 Fund Category/Type Wholesale Money Market (Islamic) / Income 15 Launch Date 11 June 2014 10 5 Trustee CIMB Islamic Trustee Berhad Benchmark Maybank Overnight Repo Rate* Kenanga Islamic Cash : 23.06 *Maybank Overnight Repo Rate has been renamed as Maybank Islamic Overnight Deposit Rate effective 23 September 2019 Sales Charge Nil Annual Management Fee 0.30% p.a. # Annual Trustee Fee 0.02% p.a. Jun 22 Dec 21 Jun 21 Dec 20 Jun 20 Dec 19 Maybank Overnight Repo Rate* : 12.02 Source: Novagni Analytics and Advisory CUMULATIVE FUND PERFORMANCE (%)# Period Fund Benchmark 1 month 0.04 0.16 6 months 0.16 0.59 1 year 0.28 1.04 3 years 4.19 1.85 5 years 10.59 5.66 Since Launch 23.06 12.02 Designated Fund Manager Lee Sook Yee Jun 19 Dec 18 Jun 18 Dec 17 Jun 17 Dec 16 Jun 16 Dec 15 Jun 15 Jun 14 Dec 14 0 CALENDAR YEAR FUND PERFORMANCE (%)# Period Fund Benchmark 2021 0.71 0.25 1.76 2020 0.62 2.19 2019 1.72 1.91 2018 3.28 2017 3.28 1.77 Source: Lipper, 30 June 2022 FUND SIZE * RM 0.22 million NAV PER UNIT * RM 1.0198 Redemption Charge Nil HISTORICAL FUND PRICE * Since Inception Date Highest RM 1.0198 30-Jun-22 Lowest RM 1.0000 30-Jun-14 All fees and charges payable to the Manager and the Trustee are subject to the goods and services tax /sales and services tax/other taxes of similar nature as may be imposed by the government or other authorities from time to time. ASSET ALLOCATION (% NAV) * SECTOR ALLOCATION (% NAV) * June 100.0% May 100.0% April Short Term Islamic Deposits and Cash 100.0% 100.0% Liquidity 1 PARENT CO. / COMPANY RAM RATING AAA % of NAV 100.00% Date 30-Jun-22 31-May-22 29-Apr-22 DISTRIBUTION HISTORY * Gross Distribution RM Yield (%) 0.05 sen 0.05% 0.05% 0.05 sen 0.04 sen 0.04% Unit Split - * Source: Kenanga Investors Berhad, 30 June 2022 Based on the fund’s portfolio returns as at 10 June 2022, the Volatility Factor (VF) for this fund is 0.29 and is classified as “Very Low”. (Source: Lipper). “Very Low” includes funds with VF that are 0.000 and less than or equal to 4.19 (source: Lipper). 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. The Information Memorandum dated 11 June 2014 has been deposited with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understand the relevant Information Memorandum and consider the fees and charges involved before investing. Unit prices and distributions may go down as well as up. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. The fund fact sheet has not been reviewed by the SC. A Fund’s track record does not guarantee its future performance. Investors are advised to read and understand the contents of the unit trust loan financing risk disclosure statement before deciding to borrow to purchase units. Kenanga Investors Berhad is committed to preventing Conflict of Interest between its various businesses and activities and between its clients / directors / shareholders and employees by having in place procedures and measures for identifying and properly managing any apparent, potential and perceived Conflict of Interest by making disclosures to Clients, where appropriate. The Manager wishes to highlight the specific risks of the Fund are interest rate risk and credit and default risk.