RHB Dana Islam Fund Factsheet – March 2018

Transcription

1. FUND FACTSHEET – MARCH 2018 All data expressed as at 28 February 2018 unless otherwise stated RHB DANA ISLAM This Fund aims to provide investors with above average capital growth over a medium to long-term period by investing in a carefully selected portfolio of stocks which complies with the Shariah principles. INVESTOR PROFILE INVESTMENT STRATEGY • 90% - 98% of NAV: Investments in Shariah-compliant equity and equity related securities of companies that have good growth potential. • 2% - 10% of NAV: Investments in Shariah-compliant liquid assets comprising of cash and Islamic deposits with financial institutions, Islamic accepted bills, sukuk, cagamas sukuk, Government Investment Issues and any other Shariahcompliant instrument capable of being converted into cash within seven (7) days. This Fund is suitable for Investors who: • are looking for investments in a diversified portfolio of assets that comply with Shariah requirements; • are willing to accept moderate to high risk in their investments; and • prefer capital growth rather than income over a medium to long-term period. FUND PERFORMANCE ANALYSIS FUND DETAILS Performance Chart Since Launch* Manager Trustee Fund Category Fund Type Launch Date Unit NAV Fund Size (million) Units In Circulation (million) Financial Year End MER (as at 31 March 2017) Min. Initial Investment Min. Additional Investment Benchmark Cumulative Performance (%)* 1 Month Fund -2.22 Benchmark -1.69 1 Year 5.97 8.39 Fund Benchmark Calendar Year Performance (%)* 2017 Fund 10.66 Benchmark 10.72 Source: Lipper IM 3 Months 1.88 3.93 6 Months 1.26 5.32 YTD 1.48 0.94 3 Years 10.36 2.34 5 Years 35.33 20.91 Since Launch 249.83 184.59 2016 -11.91 -6.14 2015 25.01 2.35 2014 -14.38 -4.17 Sales Charge Redemption Charge Annual Management Fee Annual Trustee Fee Redemption Period Distribution Policy 2013 25.95 13.29 *The implementation of GST will be effective from 1 April 2015 at the rate of 6% and the fees or charges payable is exclusive of GST. *For the purpose of computing the annual management fee and annual trustee fee, the NAV of the Fund is exclusive of the management fee and trustee fee for the relevant day. FUND PORTFOLIO ANALYSIS Sector Allocation* FUND STATISTICS Country Allocation* Trading / Services 33.95% Industrial Products Malaysia 15.93% Construction 14.96% Technology 78.63% Indonesia RHB Asset Management Sdn. Bhd. HSBC (Malaysia) Trustee Bhd Equity fund (Shariahcompliant) Growth Fund 26 October 2001 RM0.9169 RM101.92 111.16 31 March 1.72% RM100.00 Any amount FTSE Bursa Malaysia EMAS Shariah Index Up to 6.38% of investment amount* None 1.50% p.a. of NAV* Up to 0.07% p.a. of NAV* Within 10 days after receipt the request to repurchase Annually, if any 7.35% Historical NAV (RM) 1 Month High 0.9377 Low 0.9004 12 Months 0.9515 0.8812 Since Launch 1.0965 0.4737 8.14% Properties 7.65% Consumer Products Philippines 2.76% Source: Lipper IM Thailand 1.40% Historical Distributions (Last 5 Years) (Net) Distribution Yield (%) (sen) 20 Apr 2017 1.7500 1.90 28 Mar 2016 6.6000 6.89 15 Apr 2015 6.5000 6.49 27 Mar 2014 6.6000 6.54 28 Mar 2013 5.5000 6.02 4.85% Finance 3.14% Infras. Project Co 1.52% Cash Cash 9.86% 0% 10% 20% 30% Top Holdings (%)* SERBA DINAMIK HOLDINGS BHD LOTTE CHEMICAL TITAN HOLDING BHD PT BEKASI FAJAR INDUSTRIAL ESTATE INARI AMERTRON BHD ML GLOBAL BHD *As percentage of NAV RHB Asset Management Sdn Bhd (174588-x) 9.86% 0% 40% 3.85 3.41 3.33 3.33 3.23 50% 100% Source: RHB Asset Management Sdn. Bhd. Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur General Line: 603-9205 8000
2. FUND FACTSHEET – MARCH 2018 All data expressed as at 28 February 2018 unless otherwise stated RHB DANA ISLAM This Fund aims to provide investors with above average capital growth over a medium to long-term period by investing in a carefully selected portfolio of stocks which complies with the Shariah principles. MANAGER'S COMMENTS MARKET REVIEW Global equities witnessed a broad-based sell-off in February 2018, registering its weakest month in two years despite a partial recovery in the second half of the month. Rising inflation expectations and bond yields (10-year treasury yields up from 2.7% at the start of the month to 2.9%) wreaked havoc on global equities that had been experiencing lofty sentiments, as volatility sky-rocketed. The United States (“US”) Federal Reserve Chairman Jerome Powell's optimistic views left market participants anticipating a faster pace of rate hikes in the US and debating the possibility of 4 rate hikes during 2018. Asia excluding Japan suffered bigger sell down led by China (-6.4%), India (-6.9%) and Korea (-6.6%). Association of Southeast Asian Nations (“ASEAN”) (-1.5%), which underperformed in 2017, fared relatively better. The FBM KLCI started the month on a weak footing as the index tracked the sell down in global markets earlier in the month on 5th February 2018 which saw the index dipped -2.2% on that day. After buying around RM3.37 billion net in January 2018, foreign investors turned net sellers in the first week of February 2018 with around RM1.98 billion worth of shares sold net. However, market recovered steadily, in line with the rebound in global indices. For the remainder of the month, market held steady trading rangebound ending the month in the red (-0.66%) in line with most regional markets. For the period, the best performing sector for the period was the Consumer Index (+2.4%). Nestle was the biggest mover, after it reported a good set of 4Q17 results despite the challenging environment. Its net profit double to a record high of MYR133.54 million, driven by supply chain efficiency, product portfolio and promotional activities. It also announced a higher dividend of MYR1.35 for the quarter bringing the total dividends for the year to MYR2.75. Worst performing sector was construction which declined by -5.93%. The biggest laggards were IJM (-11.97%) and Gamuda (-3.12%). IJM reported weaker results which missed estimates on the back of lower contribution from the property segment and the manufacturing division. On the economic front, we saw our 4Q17 gross domestic product slowing down to 5.9% year-on-year but beating market consensus of a 5.7% year-on-year growth. January 2018’s consumer price index rose to 2.7% year-on-year after a 3.5% rise in the prior month. MARKET OUTLOOK AND STRATEGY We are still positive on the Malaysia equity market outlook due to the following reasons; global growth will be sustained in 2018 supported by synchronized expansions in major economies like the US, Europe, Japan and China. Global monetary policies will still remain accommodative, despite un-synchronized monetary tightening plans in place. Gradual improvement in global growth and trades will benefit ASEAN economies through better exports, and eventually domestic demands. Malaysia healthy economic growth of 5.0%-5.5%, supported by resilient domestic demands & investments and external demand, will be supportive of the equity market in 2018. Export growth in MYR terms jumped to 17.9% year-on-year in January 2018, on account of a broad based surge in shipment of Electrical & Electronics (E&E), non-E&E and commodity products. The strong trade numbers in January 2018 point to a sustained global demand. Looking forward, we believe there is sustained momentum in external activity and we expect exports to grow at a healthy pace albeit slowing from 18.9% recorded in 2017. This is on account of a higher base in 2017, a slowdown in China’s demand for the country’s exports, but partly mitigated by the resilient external of E&E shipments and higher commodity prices. We continue to look for stocks with strong fundamentals and decent valuation to add into our portfolio. DISCLAIMER: Based on the fund’s portfolio returns as at 15 February 2018, the Volatility Factor (VF) for this fund is 11.3 and is classified as “Very High”. (source: Lipper) “Very High” includes funds with VF that are more than 10.6 (source: Lipper). 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. The VC referred to was dated 31 December 2017 which is calculated once every six months and is valid until its next calculation date, i.e. 30 June 2018. A Product Highlights Sheet (“PHS”) highlighting the key features and risks of the Fund is available and investors have the right to request for a PHS. Investors are advised to obtain, read and understand the PHS and the contents of the Master Prospectus dated 3 August 2017 and its supplementary(ies) (if any) (“the Master Prospectus”) before investing. The Master Prospectus has been registered with the Securities Commission Malaysia who takes no responsibility for its contents. Amongst others, investors should consider the fees and charges involved. Investors should also note that the price of units and distributions payable, if any, may go down as well as up. Where a distribution is declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Any issue of units to which the Master Prospectus relates will only be made on receipt of a form of application referred to in the Master Prospectus. For more details, please call 1800-88-3175 for a copy of the PHS and the Master Prospectus or collect one from any of our branches or authorised distributors. The Manager wishes to highlight the specific risks of the Fund are market risk and particular security risk. These risks and other general risks are elaborated in the Master Prospectus. This factsheet is prepared for information purposes only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive it. Past performance is not necessarily a guide to future performance. Returns may vary from year to year. RHB Asset Management Sdn Bhd (174588-x) Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur General Line: 603-9205 8000