Principal Islamic Deposit Fund Report - May 2021

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1. Principal Islamic Deposit Fund (formerly known as CIMB Islamic Deposit Fund) 3-year Fund Volatility 0.2 31 May 2021 Very Low Lipper Analytics 15 May 2021 Fund Objective Fund Performance Aims to provide investors with liquidity and regular income, whilst maintaining capital stability by investing primarily in deposits that comply with the Shariah principles. 40% 35% 30% 25% Currency: MYR ISIN Code: MY1000DF000 20% 15% Bloomberg Ticker: CIMBIDF MK 10% 5% Fund Information Domicile Malaysia Fund Currency Ringgit Malaysia Fund Size (MYR) MYR 3.62 billion Fund Unit 3.62 billion units Fund Launch Benchmark Dealing Fund Islamic Interbank Overnight Rate Daily (as per Bursa Malaysia trading day) 0.45% p.a. of the NAV Trustee Fee 0.04% p.a. of the NAV MYR 1.0000 Benchmark Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss. Cumulative Performance (%) 9 September 2009 Management Fee Unit NAV (MYR) Fe b Malaysia -1 Au 0 g1 Ja 0 n1 Ju 1 l- 1 Ja 1 n1 Ju 2 n1 D 2 ec -1 M 2 ay -1 N 3 ov -1 M 3 ay -1 O 4 ct -1 A 4 pr -1 O 5 ct -1 M 5 ar -1 Se 6 p1 F 6 eb -1 A 7 ug -1 Fe 7 b18 Ju l- 1 Ja 8 n1 Ju 9 l- 1 D 9 ec -1 Ju 9 n2 N 0 ov -2 M 0 ay -2 1 0% Location YTD Fund 0.69 Benchmark 0.72 Since 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception 0.13 0.41 0.83 1.75 8.38 15.38 36.54 0.14 0.43 0.87 1.77 8.03 14.77 39.22 Calendar Year Returns (%) 2020 2019 2018 2017 2016 2015 Fund 2.24 3.26 3.36 3.21 3.04 3.13 Benchmark 2.18 3.11 3.24 3.04 3.14 3.19 2021 May 2021 Apr 2021 Mar 2021 Feb 2021 Jan 2020 Dec 0.13 0.14 0.14 0.13 0.15 0.14 1.56 1.68 1.68 1.56 1.80 1.68 Most Recent Fund Distributions Gross (Sen/Unit) Annualised Yield (%) Note: September 2009 to May 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. 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 Fund Risk Statistics Top 10 Holdings Beta AmBank Islamic % of net Country assets Malaysia 20.72 Public Islamic Bank Bhd Malaysia 19.48 Information Ratio RHB Islamic Bank Bhd Malaysia 16.72 2.62 Hong Leong Islamic Bank Bhd Malaysia 12.16 CIMB Islamic Bank Malaysia 11.32 Bank Islam Malaysia Bhd Malaysia 11.05 Maybank Islamic Bhd Malaysia 8.56 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. 1.10 Sharpe Ratio 0.00 3 years monthly data
2. Principal Islamic Deposit Fund (formerly known as CIMB Islamic Deposit Fund) Asset Allocation (%) Money Market 100.00 0 10 20 As of 31 May 2021 Sector Allocation (%) 30 40 50 60 70 80 90 100 Regional Allocation (%) Money Market 100.00 0 Fund 10 20 30 40 50 60 70 80 90 100 Malaysia 100.00 0 Fund 10 20 30 40 50 60 70 80 90 100 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 delivered 0.13% in the month of May 2021, slightly below the benchmark by 1bp, and delivered 1.75% in the 12-months period ending 31 May 2021, underperforming the benchmark by 2bps. Malaysia’s 1Q21 GDP rebounded 2.7% QoQ (or -0.5% YoY) primarily driven by stronger exports, global demand recovery and tech upcycle. Recent trade data in April-21 continue to see exports to grow – at 63% YoY – confirming our thesis that a strong global demand recovery will eventually benefit export-oriented country like Malaysia. However, surging COVID-19 cases has prompted the Malaysian government to announce a two-weeks lockdown from 1st June. While the MoF has not officially guided a new GDP forecast taking into the consideration of the lockdown impact, most business economists are downgrading growth by 0.5 – 1.5% for 2021 (forecast range from 4.4% to 5.4% for 2021). Prime Minister Muhyiddin Yassin acknowledged that there is limited fiscal space to stimulate the economy. BNM kept policy rate unchanged in the May-2021 meeting, with assessment of overall growth trajectory, current policy stance, and outlook for policy broadly similar to March-2021. However, with pandemic-related headwinds stronger than initial assumptions, policy action may be required in the next meeting. We believe that BNM is likely to keep its OPR at 1.75% for the time being as they deem the current monetary policies to be accommodative to support the recovery. We limit our investment exposure to short-term Islamic deposit placements due to the very low risk nature of the Fund. ^Based on the fund's portfolio returns as at 15 May 2021, the Volatility Factor (VF) for this fund is 0.200 and is classified as "Very Low" (source: FIMM). 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 FIMM 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 credit and default 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