- Monthly Review August 2019 7 .6 moderate Manulife Investment Al-Faid 10 Jul 19 FUND REVIEW & STRATEGY FUND TYPE / CATEGORY Equity (Islamic) 10-YEAR PERFORMANCE AS AT 31 JULY 2019 * 120% 100% FUND OBJECTIVE To provide Unit Holders with medium- to longterm capital growth through investments in a diversified portfolio of equities which are Shariahcompliant. 80% 60% 40% 20% 0% Jul‐09 Jan‐10 Jul‐10 Jan‐11 Jul‐11 Jan‐12 Jul‐12 Jan‐13 Jul‐13 Jan‐14 Jul‐14 Jan‐15 Jul‐15 Jan‐16 Jul‐16 Jan‐17 Jul‐17 Jan‐18 Jul‐18 Jan‐19 Jul‐19 Fund Benchmark INVESTOR PROFILE The Fund is designed for those seeking investments that comply with Shariah requirements and are willing to accept a higher level of risk. Investors should have a medium- to long-term investment horizon of between 3 and 5 years. FUND MANAGER Manulife Asset Management Services Berhad (834424-U) TRUSTEE HSBC (Malaysia) Trustee Bhd (1281-T) FUND DETAILS (As At 31 July 2019) NAV/Unit Fund Size Units In Circulation Fund Launch Date Fund Inception Date Financial Year Currency Management Fee Trustee Fee Sales Charge Redemption Charge Distribution Frequency Benchmark Amid concerns over the slowing economy and corporate earnings risk arising from the ongoing trade spat, our economic fundamentals are expected to remain relatively resilient with selected sectors well-positioned to benefit from business relocations and trade diversions and the revival of major infrastructure projects. As our defensive local bourse is expected to show resilience relative to its regional peers, there could be bottom-fishing opportunities ahead. With stocks trading at below their historical mean valuations following the market sell-down, we reaffirm our investment strategy to focus on undervalued companies with earnings visibility and dividend yield appeals. TOTAL RETURN OVER THE FOLLOWING PERIODS ENDED 31 JULY 2019 * Fund Class RM (%) Benchmark in RM (%) 1-Month 6-Month YTD 1-Year 3-Year 5-Year 10-Year -1.43 -1.07 5.61 3.90 6.03 4.33 -1.94 -6.31 3.44 -1.61 4.37 -10.32 81.09 48.05 2017 11.87 10.72 2018 -12.79 -13.52 CALENDAR YEAR RETURNS * 2014 2015 2016 0.82 9.02 -1.98 Fund Class RM (%) -4.17 2.35 -6.14 Benchmark in RM (%) *Source: Lipper; Past performance is not necessarily indicative of future performance. The performance is calculated on NAV-to-NAV basis. TOP 5 HOLDINGS RM 0.3211 RM 179.63 mil 559.42 mil 30 Jun 2003 22 Jul 2003 31 Jul RM Up to 1.5% of NAV p.a. Up to 0.06% of NAV p.a. Up to 6.5% of NAV per unit Nil Incidental, if any FTSE Bursa Malaysia EMAS Shariah Index No. 1 2 3 4 5 ASSET/ SECTOR ALLOCATION Security Name TENAGA NASIONAL BHD AXIATA GROUP BHD. TIME DOTCOM BHD. PETRONAS GAS BHD. PETRONAS CHEMICALS GROUP BHD. % NAV 6.8 4.8 3.5 3.4 3.3 HIGHEST & LOWEST NAV 2016 0.4122 0.3720 High Low 2017 0.4096 0.3729 2018 0.3958 0.3159 No. 1 2 3 4 5 6 7 8 9 10 Asset/ Sector Name TELECOMM & MEDIA IND PROD & SERV CASH EQUIVALENT UTILITIES CONSUMER PROD & SERV HEALTH CARE ENERGY PLANTATION CONSTRUCTION OTHERS % NAV 13.3 12.3 10.8 10.7 10.5 8.1 7.9 7.4 5.7 13.3 COUNTRY/ TERRITORY ALLOCATION DISTRIBUTION BY FINANCIAL YEAR Distribution (Sen) Distribution Yield (%) 2017 2.95 7.6 2018 1.52 4.1 2019 2.36 7.0 No. Country Name 1 MALAYSIA 2 CASH EQUIVALENT % NAV 89.2 10.8 Based on the Fund's portfolio returns as at 28 Jun 2019 the Volatility Factor (VF) for the Fund (RM Class) is as indicated in the table above and are classified as in the table (source: Lipper). "Very High" includes Funds with VF that are above 11.185, "High" includes Funds with VF that are above 8.845 but not more than 11.185, "Moderate" includes Funds with VF that are above 6.455 but not more than 8.845, "Low" includes Funds with VF that are above 1.885 but not more than 6.455 and "Very Low" includes Funds with VF that are above 0.000 but not more than 1.885 (source:FiMM). The VF means there is a possibility for the Funds 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 Funds 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 Master Prospectus dated 1 December 2018 for 23 Funds and its First Supplemental Master Prospectus dated 1 April 2019 (collectively, the “Offering Documents”), obtainable at our offices, before investing. The Offering Documents has been registered with the Securities Commission Malaysia who takes no responsibility for its contents. Investors should consider the fees and charges involved. The price of units and income distribution may go down as well as up. Past performances of the Funds are not an indication of the Funds' future performances. 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 the pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in the Fund’s denominated currency will remain unchanged after the distribution of the additional units. Units will only be issued on receipt of the completed application form referred to and accompanying the Offering Documents. There are risks involved with investing in unit trust funds; wholesale funds and/or Private Retirement Schemes. Some of these risks associated with investments in unit trust funds; wholesale funds and/or Private Retirement Schemes are interest rate fluctuation risk, foreign exchange or currency risk, country risk, political risk, credit risk, non-compliance risk, counterparty risk, target fund manager risk, liquidity risk and interest rate risk. For further details on the risk profile of all the funds, please refer to the Risk Factors section in the Offering Documents. Investors are also advised to read and understand the contents of the “Unit Trust Loan Financing Disclosure Statement” before deciding to obtain loan financing to purchase units of the Funds. All fees and charges (e.g. sales charge, switching fee, transfer fee, management fee, trustee fee and any other relevant fee(s) and/or charge(s)), where applicable, may be subject to tax that may be introduced by the Government of Malaysia from time to time, at the prevailing rate. The Manager, the Trustee and/or other services provider reserves the right to collect from you and/or the fund an amount equivalent to the prevailing rate of tax payable for all fees and charges, where applicable. Your obligation to pay any applicable taxes shall form part of the Terms and Conditions.