Principal Islamic Lifetime Balanced Fund Report - October 2020

Transcription

1. Principal Islamic Lifetime Balanced Fund (formerly known as CIMB Islamic Balanced Fund) 3-year Fund Volatility 8.0 31 October 2020 Low Lipper Analytics 15 Oct 2020 Available under the EPF Members Investment Scheme. Fund Objective Fund Performance To achieve medium to long-term growth in both capital and income by investing in permissible Shariah-compliant investments. Currency: MYR 250% 200% ISIN Code: MYU1000BE007 150% Bloomberg Ticker: BHALMIZ MK 100% 50% Fund Information Domicile Fund Currency Malaysia MYR 873.18 million Fund Unit 1.77 billion units Benchmark Dealing Application Fee Fund Benchmark Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss. 8 March 2001 30% FTSE Bursa Malaysia EMAS Shariah Index + 30% MSCI AC Asia ex Japan Islamic Index + 40% CIMB Islamic 1-month Fixed Return Income Account-i (FRIA-i) Daily (as per Bursa Malaysia trading day) IUTA: 6.50% of NAV per unit Principal Agency Distributor: 6.50% of NAV per unit Management Fee 1.50% p.a. of the NAV Trustee Fee 0.10% p.a. of the NAV Unit NAV (MYR) - 50% Ringgit Malaysia Fund Size (MYR) Fund Launch 0% Malaysia D ec -0 S 1 ep -0 2 Ju l- 0 A 3 pr -0 Fe 4 b0 N 5 ov -0 A 5 ug -0 Ju 6 n0 M 7 ar -0 Ja 8 n0 O 9 ct -0 Au 9 gM 10 ay -1 M 1 ar -1 D 2 ec -1 Se 2 p13 Ju l- 1 A 4 pr -1 Fe 5 b1 N 6 ov -1 A 6 ug -1 Ju 7 n1 M 8 ar -1 Ja 9 n2 O 0 ct -2 0 Location Cumulative Performance (%) YTD Fund 6.95 Benchmark 7.31 Since 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception -0.24 -0.41 10.84 8.75 7.98 21.19 222.96 -0.03 -0.23 11.81 9.54 6.15 22.35 144.71 Calendar Year Returns (%) 2019 2018 2017 2016 2015 2014 Fund 8.34 -6.36 12.29 -1.43 10.26 3.74 Benchmark 8.14 -7.19 12.21 1.15 6.34 2.14 2020 Sep 2019 Sep 2018 Sep 2017 Sep 2016 Sep 2015 Sep 1.66 1.83 2.60 2.35 2.28 1.15 3.28 3.79 5.39 4.64 4.69 2.47 Most Recent Fund Distributions Gross (Sen/Unit) Annualised Yield (%) Note: March 2001 to October 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 MYR 0.4926 GII Murabahah Top Glove Corp Bhd Fund Risk Statistics % of net Country assets Malaysia 4.09 Beta 0.92 Malaysia 3.45 Information Ratio Cayman Islands 3.13 7.94 Taiwan Semiconducter Manuf Taiwan 2.94 Samsung Electronics Co. Ltd South Korea 2.88 Malaysia 2.19 India 2.04 Hartalega Hldg Bhd Malaysia 2.02 Press Metal Aluminium Hldg Bhd Malaysia 1.84 Mah Sing Group Bhd Malaysia 1.79 Alibaba Group Holding Ltd WCT Hldgs Bhd Reliance Industries Ltd 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. Sharpe Ratio 0.38 3 years monthly data
2. Principal Islamic Lifetime Balanced Fund (formerly known as CIMB Islamic Balanced Fund) Asset Allocation (%) Sector Allocation (%) Financials 8.78 Mutual Fund 1.79 Real Estate 1.69 Indonesia 0.54 Mutual Fund 1.79 Singapore 0.58 3.08 Utilities 26.55 Shariah-compliant Equities (Local) 29.67 Sukuk 33.20 10 15 20 25 30 35 United States 1.57 1.60 Communication Services 4.67 Ireland Materials 4.80 China 2.51 Industrials 5.16 Cayman Islands 3.13 Energy 5.37 Taiw an 3.87 Consumer Discretionary 7.96 South Korea 4.28 Health Care 8.08 India 4.33 Hong Kong SAR China 4.69 10.66 33.20 Sukuk 5 0.74 Australia 3.78 Information Technology 0 8.78 Cash Netherlands 0.50 0.97 Consumer Staples Shariah-compliant Equities (Foreign) Regional Allocation (%) 8.78 Cash Cash As of 31 October 2020 0 Fund 5 10 15 20 25 30 Fund 62.88 Malaysia 35 0 10 20 30 40 50 60 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 October, the Fund declined 0.24% in MYR terms, underperforming the Benchmark by 21 basis points (bps). Year-to-date, the Fund rose +6.95%, underperforming the Benchmark by 36bps. The global economic recovery appears intact heading into 2021 with most major economies globally posting encouraging PMI levels above 50. Barring sporadic lockdowns in Europe, the Covid situation is broadly under control with populous countries such as India and Indonesia having past its peak in cases. US and China’s relationship is unlikely to change materially given US’s bipartisan view to be more assertive against China sparked under President Trump’s first term. Nevertheless, China’s domestic economy is deep enough and its companies sufficiently innovative to navigate this hostile landscape in the coming years. We are positive on Asian equities with a view that the rally could broaden out in 2021. We are highly invested and favour growth-oriented stocks. We would be looking out for ideas that will benefit from the broadening out of growth in the upcoming year. ^Based on the fund's portfolio returns as at 15 October 2020, the Volatility Factor (VF) for this fund is 8.000 and is classified as "Low" (source: Lipper). "Low" includes funds with VF that are above 3.64 but not more than 10.39. 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, interest rate risk, risk of investing in emerging markets 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. *Note: The Fund does not invest in interest bearing instruments; the interest rate referred herein is to the general interest rate of the country, which may affect the value of the investments of the Fund. 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