Principal Islamic Asia Pacific Dynamic Equity Fund Report - July 2020

Transcription

1. Principal Islamic Asia Pacific Dynamic Equity Fund (formerly known as CIMB Islamic Asia Pacific Equity Fund) 3-year Fund Volatility 14.94 31 July 2020 High Lipper Analytics 15 Jul 2020 Available under the EPF Members Investment Scheme. Fund Objective Fund Performance Aims to achieve long-term capital appreciation and income while complying with Shariah investment criteria, through investments in the emerging and developed markets of Asia Pacific ex Japan region. 150% 130% 110% 90% 70% ISIN Code: MYU1000AA007 50% 30% Bloomberg Ticker: CIMAPAD MK 10% - 10% D Fund Information - 30% Location Malaysia Domicile Malaysia Fund Currency Ringgit Malaysia Fund Size (MYR) MYR 1.67 billion Fund Unit 1.77 billion units Fund Launch Benchmark Dealing Application Fee Management Fee Trustee Fee Unit NAV (MYR) ec -0 6 Ju l-0 Fe 7 b0 S 8 ep -0 M 8 ar -0 O 9 ct M 09 ay -1 D 0 ec -1 Ju 0 n1 Ja 1 n1 A 2 ug -1 M 2 ar -1 S 3 ep -1 Ap 3 r1 N 4 ov -1 Ju 4 n1 Ja 5 n16 Ju l-1 Fe 6 b1 Se 7 p1 A 7 pr -1 O 8 ct M 18 ay -1 D 9 ec -1 Ju 9 l-2 0 Currency: MYR - 50% 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 (%) 2 June 2006 MSCI AC Asia ex Japan Islamic Index Daily (as per Bursa Malaysia trading day) IUTA: 5.00% of the NAV per unit Principal Agency Distributor: 5.00% of the NAV per unit 1.80% p.a.of the NAV 0.07% p.a.of NAV MYR 0.9446 Fund Since 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception 14.63 13.48 18.44 18.68 23.12 16.03 47.85 118.51 Benchmark 8.94 YTD 11.46 16.51 13.51 20.06 11.11 54.43 99.86 Calendar Year Returns (%) 2019 2018 2017 2016 2015 2014 Fund 18.35 -16.76 23.93 0.47 14.87 10.25 Benchmark 17.64 -17.00 29.61 7.28 10.31 7.63 2020 Mar 2018 May 2017 Mar 0.86 2.01 4.50 1.14 2.38 6.71 Most Recent Fund Distributions Gross (Sen/Unit) Annualised Yield (%) Note: June 2006 to July 2020. 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 Top 10 Holdings Taiwan Semiconducter Manuf Samsung Electronics Co. Ltd Alibaba Group Holding Ltd Reliance Industries Ltd China Tourism Group Duty Free Tencent Hldg Ltd Samsung Electronics-PFD SHENZHEN AIRPORT CO LTD China Resources Gas Grp Ltd Apollo Hospitals Ent Ltd Fund Risk Statistics % of net Country assets Taiwan 11.68 South Korea 10.29 Cayman Islands 9.49 India 7.68 China 5.00 HK, China 3.96 South Korea 3.18 China 2.47 HK, China 2.43 India 2.21 The holdings listed do no 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. Beta 0.92 Information Ratio 0.43 Sharpe Ratio 0.04 3 years monthly data
2. Principal Islamic Asia Pacific Dynamic Equity Fund (formerly known as CIMB Islamic Asia Pacific Equity Fund) Asset Allocation (%) Sector Allocation (%) Regional Allocation (%) 6.04 Cash Cash Financials 0.06 Cash Mutual Fund 0.18 6.04 Consumer Staples 2.08 Utilities 2.43 As of 31 July 2020 6.04 Indonesia 1.86 Japan 1.94 2.94 Singapore 3.85 United States 3.05 Real Estate Australia Mutual Fund 0.18 4.21 4.34 Materials 9.49 Cayman Islands Industrials 4.51 Health Care Shariah-compliant Equities (Foreign) 93.77 China 4.66 Communication Services 8.85 Consumer Discretionary 23.79 Information Technology 0 10 20 30 40 50 60 70 80 90 30.71 0 Fund 5 10 11.68 14.44 India 9.30 Energy 9.93 Taiw an 15 20 25 30 Fund 35 HK, China 16.81 South Korea 16.81 0 5 10 15 20 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 In July, the Fund rose +13.5% in MYR terms, outperforming the Benchmark by 202 basis points (bps). The outperformance came from China, India and Korea while Taiwan and Singapore were detractors. Year-to-date, the Fund rose +14.6%, outperforming the Benchmark by 569 bps. Asian markets rallied in July led by Taiwan, China, India while Singapore, Philippines and Australia were laggards. Gold price soared +11% benefiting from the abundance of liquidity and depressed bond yields. The global reflation trade is likely to sustain driven by the revival of economic activities as countries re-open for business, ample financial liquidity by central banks and absence of inflationary pressures due to weak labour market. China, US and Eurozone’s PMI are all showing encouraging signs and point to a strong backdrop for equity earnings recovery in 2H20 and into 2021. The negative real rate environment throughout developed markets provide a cushion for Asian currencies. We continue to be highly invested and positioned for growth. For new ideas, we have preference for stocks with differentiated businesses from the rest of the portfolio. ^Based on the fund's portfolio returns as at 15 July 2020, the Volatility Factor (VF) for this fund is 14.940 and is classified as "High" (source: Lipper). "High" includes funds with VF that are above 12.80 but not more than 15.38. 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. We recommend that you read and understand the contents of the Master Prospectus (Islamic Funds) dated 31 December 2019, which has been duly registered with the Securities Commission Malaysia, before investing and that you keep the said Master Prospectus (Shariah-Compliant Funds) for your records. Any issue of units to which the Master Prospectus (Shariah-Compliant Funds) relates will only be made upon receipt of the completed application form referred to in and accompanying the Master Prospectus (Shariah-Compliant Funds), subject to the terms and conditions therein. Investments in the Fund are exposed to country risk, credit and default risk, currency risk, risks associated with investment in warrants and /or options and stock specific risk. You can obtain a copy of the Master Prospectus (Shariah-Compliant Funds) 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 fees and 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 also advised to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure Statement before deciding to obtain financing to purchase units. Where a unit split/distribution is declared, you 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 in Malaysian ringgit 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