Principal Islamic ASEAN Equity Fund - Class MYR Report - October 2021

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1. Principal Islamic ASEAN Equity Fund - Class MYR 31 October 2021 Fund Objective Fund Performance The Fund seeks capital growth over the medium to long term through investment in one Islamic collective investment scheme , which invests primarily in the ASEAN region. 10% 5% 0% ISIN Code: MYU1000HQ008 Fe b2 M 0 ar -2 0 A pr -2 M 0 ay -2 0 Ju n20 Ju l- 2 0 A ug -2 0 S ep -2 0 O ct -2 0 N ov -2 0 D ec -2 0 Ja n21 Fe b2 M 1 ar -2 1 A pr -2 M 1 ay -2 1 Ju n21 Ju l- 2 1 A ug -2 1 Se p21 O ct -2 1 Currency: MYR 15% - 5% Bloomberg Ticker: PRIAEMA MK - 10% - 15% Fund Information Domicile Base Currency US Dollar ("USD") Fund Inception 15 January 2020 Benchmark - 20% Malaysia The Fund adheres to the performance comparator of the Target Fund for performance comparison. - 25% Fund Benchmark Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss. Cumulative Performance (%) YTD Fund 1.23 Benchmark 1.41 Since 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception 2.57 6.21 2.66 7.91 N/A N/A 2.00 Application Fee Up to 5.00% of the NAV per unit. Management Fee Up to 1.80% per annum of the NAV of the Class. Calendar Year Returns (%) 2020 2019 2018 Fund N/A N/A Trustee Fee Up to 0.04% per annum of the NAV of the Fund. Benchmark N/A N/A Fund Size (MYR) NAV per unit (As at 31 October 2021) Trustee MYR 8.74 million MYR 0.2547 HSBC (Malaysia) Trustee Berhad 1.63 3.70 0.42 10.55 N/A N/A 10.82 2017 2016 2015 N/A N/A N/A N/A N/A N/A N/A N/A Note: January 2020 to October 2021. Performance data represents the combined income & capital return as a result of holding units in the fund for the specified length of time, based on bid to bid prices. Earnings are assumed to be reinvested. Source : Lipper Top 10 Holdings * Country Indonesia % of net assets 6.60 Airports of Thailand PCL Thailand 5.20 Advanced Info Services Thailand 4.70 NetLink NBN Trust Singapore 4.00 Bank BTPN Syariah TBK Indonesia 3.60 Home Product Center PCL Thailand 3.40 Time dotCom Bhd Malaysia 3.20 IHH Healthcare Bhd Malaysia 3.10 Bank Islam Malaysia Bhd Malaysia 3.00 Pentamaster Corp Bhd Malaysia 2.90 Telkom Indonesia TBK The holdings listed do not constitute a recommendation to purchase or sell a particular security. Cash and/or derivative positions that are not part of the core investment strategy will not be reflected in the top holdings list.
2. Principal Islamic ASEAN Equity Fund - Class MYR As of 31 October 2021 Sector Allocation (%) * Asset Allocation (%) Cash Regional Allocation (%) * 4.00 4.00 Cash Energy Cash 4.70 Consumer Discretionary 1.72 5.70 7.30 Financials 7.50 Materials 98.28 Mutual Fund Philippines Others Singapore 8.40 Health Care Indonesia Industrials 20 30 40 50 60 70 80 90 100 21.60 Thailand 12.90 23.30 14.20 Malaysia Communication Services 10 8.80 11.00 Information Technology 0 0.90 41.40 24.30 0 Fund 5 10 15 20 Fund 25 0 5 10 15 20 25 30 35 40 45 Fund * Of the target fund Source: Factset. Fund holdings and allocations shown are unaudited and may not be representative of current or future investments. Percentages may not add up to 100% due to rounding and/or inclusion or exclusion of cash will not be reflected in the top holdings list. Fund Manager's Report The Fund rose 2.57% during the month, outperforming the benchmark by 0.94ppt. For the month of October, countries index performances were all positive led by Indonesia (+4.01%), %), Singapore (+2.40%), Thailand (+2.29%).Malaysia (+2.28%) and Philippines (+1.10%). Mobility restrictions were further eased in ASEAN and some are in the midst preparing their countries to move from COVID-19 pandemic into endemic phase as major cities entering herd immunity. Economic activities are improving but further monetary and fiscal assistance are required. In October, the Monetary Authority of Singapore raised slightly the slope of the S$NEER policy band, from zero percent previously. Malaysia Budget 2022, announced in late October, is the largest ever Malaysian Budget and financed by new tax measures such as the one-off prosperity tax (Cukai Makmur) on large companies, aimed to help narrow the budget deficit and to spur private consumption. On 1st November, Thailand reopened its borders for international travelers as its first step to revive tourism. With most ASEAN countries having ramped up vaccination and will likely reach full vaccination levels of about 50-75% by year-end, we anticipate an improvement in sentiment and positive market movement as the market look forward to FY22. We reckon that the reopening of economy, supportive fiscal and monetary policy, potentially weaker USD and underweight positioning in the foreign portfolios may fuel ASEAN equities over the coming months. We recommend that you read and understand the contents of the Principal Islamic ASEAN Equity Fund Prospectus Issue No .1 dated 15 January 2020 which has been duly registered with the Securities Commission Malaysia, before investing and that you keep the said Fund Prospectus for your record. Any issue of units to which the Fund Prospectus relates will only be made upon receipt of the completed application form referred to in and accompanying the Fund Prospectus subject to the terms and conditions therein. Investments in the Fund are exposed to country risk, currency risk and Fund manager’s risk. You can obtain a copy of the Fund Prospectus from the head office of Principal Asset Management Berhad or from any of our approved distributors. Product Highlight Sheet ("PHS") is available and that investors have the right to request for a PHS; and the PHS and any other product disclosure document should be read and understood before making any investment decision. There are fees and charges involved in investing in the funds. We suggest that you consider these charges carefully prior to making an investment. Unit prices and income distributions, if any, may fall or rise . Past performance is not reflective of future performance and income distributions are not guaranteed. You are advised to read and understand the contents of the Unit Trust Loan Financing Risk Disclosure Statement before deciding to borrow to purchase units. 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, the value of your investment will remain unchanged after the distribution of the additional units. Carefully consider a fund's objective, risks, charges and expenses. Visit www.principal.com.my for a prospectus containing this and other information. Please read it carefully before investing. Principal Asset Management Berhad 10th Floor, Bangunan CIMB, Jalan Semantan Damansara Heights, 50490 Kuala Lumpur. Tel: (603) 2084 8888 Fax: (603) 2084 8899 Website: www.principal.com.my