Principal Islamic ASEAN Equity Fund - Class MYR Report - July 2022

Transcription

1. Principal Islamic ASEAN Equity Fund - Class MYR 30 June 2022 Fund Performance The Fund aims capital growth over the medium to long term through investment in one Islamic collective investment scheme , which invests primarily in the ASEAN region. The Fund is a feeder fund and it invests in a single Islamic collective investment scheme, i.e. Islamic ASEAN Equity Fund managed by Principal Islamic Asset Management (Ireland) pic. The Fund may also invest in Islamic liquid asset for liquidity purpose. 16% 8% 0% -8% -16% -24% Fund Information ISIN Code Lipper ID Bloomberg Ticker Ja n2 Fe 020 b2 Ma 020 r2 Ap 020 r2 Ma 020 y2 Ju 020 n2 0 Ju 20 l2 Au 020 g2 Se 020 p2 0 Oc 20 t2 No 020 v2 De 020 c2 Ja 020 n2 Fe 021 b2 Ma 021 r2 Ap 021 r2 Ma 021 y2 Ju 021 n2 0 Ju 21 l2 Au 021 g2 Se 021 p2 0 Oc 21 t2 No 021 v2 De 021 c2 Ja 021 n2 Fe 022 b2 Ma 022 r2 Ap 022 r2 Ma 022 y2 Ju 022 n2 02 2 Fund Objective -32% MYU1000HQ008 68591117 PRIAEMA MK Domicile Malaysia Currency MYR Base Currency USD Fund Inception 15 Jan 2020 Fund Benchmark Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss. Benchmark Dow Jones Islamic Market Index Application Fee Up to 5.00% of the NAV per unit. Cumulative Performance (%)   YTD 1M 3M 6M 1Y 3Y 5Y Since Inception Fund -5.20 -5.61 -4.34 -5.20 0.58 N/A N/A -3.04 Benchmark -5.46 -7.43 -6.46 -5.46 -1.82 N/A N/A 5.88 Management Fee Up to 1.80% per annum of the NAV of the Class. Calendar Year Returns (%) Fund 1.51 N/A N/A N/A N/A N/A Trustee Fee Up to 0.04% per annum of the NAV of the Fund. Benchmark 2.48 N/A N/A N/A N/A N/A Fund Size (MYR) MYR 8.15 million Fund Unit 33.61 million units NAV per unit (As at 30 Jun 2022) 2021 2020 2019 2018 2017 2016 Note: January 2020 to June 2022. 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. Annualised yield is calculated as the most recent monthly dividend distribution multiplied by the Fund's dividend frequency and divided by the latest NAV. Source : Lipper MYR 0.2424 Top Holdings * Country Airports of Thailand PCL ORD Thailand % of Net Assets 7.60 Telkom Indonesia (Persero) Tbk PT ORD Indonesia Singapore Telecommunications Ltd ORD Singapore 6.90 Advanced Info Service PCL NVDR Thailand 5.10 Bangkok Dusit Medical Services PCL ORD Thailand 3.50 PTT Explor & Prod Public Co ORD Thailand 3.40 IHH Healthcare Bhd ORD Malaysia 3.20 Home Product Center PCL ORD Thailand 3.10 Time Dotcom Bhd ORD Malaysia 2.90 Malaysia Airports Holdings Bhd ORD Malaysia 2.80 7.40 Fund Risk Statistics Beta - Information Ratio - Sharpe Ratio - (3 years monthly data) 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 30 June 2022 Asset Allocation (%) Sector Allocation (%) * Regional Allocation (%) * 12.30% Cash 12.30% Cash 1.47% Cash Consumer Staples 5.20% Energy 5.20% Information Technology 5.70% Others 5.80% Consumer Discretionary 5.90% 0.70% Philippines 10.60% Singapore 16.50% Indonesia 6.20% Materials 98.53% Collective Investments 12.70% Health Care 14.90% Industrials 25 50 75 100 0 10 20 33.50% Malaysia 26.10% Communication Services 0 26.30% Thailand 30 0 10 20 30 40 * 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 fell 5.61% during the month, outperforming the benchmark by 1.82ppt. The Dow Jones Islamic ASEAN index fell sharply in June, down -8.04% month-on-month (m-o-m). The weaker index performance was seen across countries - Malaysia (-8.92%), Philippines (-8.53%), Thailand (-8.20%), Indonesia (-7.51%) and Singapore (-5.13%). Tourist arrivals are stronger than expected together with the economic recovery momentum. However, the rising commodities prices and strong USD are affecting the sentiment. Markets with fiscal and trade deficits may face more headwinds as households dip into excess savings to cope with higher energy and food prices, and higher cost of financing. In ASEAN along with other Asian countries, inflation has been picking up with a lag. As compared to developed markets, central banks in Asia (ex-China) are likely to play catch-up in policy normalization in 2H2022. In ASEAN, tourist arrivals are stronger than expected together with the economic recovery momentum. However, the rising commodities prices and strong USD are affecting the sentiment. Markets with fiscal and trade deficits may face more headwinds as households dip into excess savings to cope with higher energy and food prices, and higher cost of financing. Along with other Asian nations, inflation in ASEAN has been picking up with a lag. As compared to developed markets, central banks in Asia (ex-China) are likely to play catch-up in policy normalization in 2H2022. 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