RHB Dana Islam Fund Factsheet – May 2018

Transcription

1. FUND FACTSHEET – MAY 2018 All data expressed as at 30 April 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 -0.94 Benchmark -0.47 1 Year -7.27 1.52 Fund Benchmark 3 Months -9.60 -3.58 6 Months -8.21 0.66 YTD -6.18 -1.01 3 Years -2.86 0.73 5 Years 17.65 12.91 Since Launch 223.42 179.12 2016 -11.91 -6.14 2015 25.01 2.35 2014 -14.38 -4.17 Calendar Year Performance (%)* 2017 Fund 10.66 Benchmark 10.72 Source: Lipper IM 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 37.85% Industrial Products 15.16% Construction 13.84% Properties Malaysia 79.18% Indonesia RHB Asset Management Sdn. Bhd. HSBC (Malaysia) Trustee Bhd Equity fund (Shariahcompliant) Growth Fund 26 October 2001 RM0.8264 RM93.41 113.03 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 6.64% Historical NAV (RM) 1 Month High 0.8569 Low 0.7898 12 Months 0.9515 0.7898 Since Launch 1.0965 0.4737 6.26% Consumer Products 5.39% Technology 5.07% Finance Philippines Thailand 3.87% Infras. Project Co 1.59% Cash 0% 10% 20% 0.13% Cash 10.97% 30% Top Holdings (%)* TENAGA NASIONAL BHD BIMB HOLDINGS BHD LOTTE CHEMICAL TITAN HOLDING BHD SERBA DINAMIK HOLDINGS BHD IHH HEALTHCARE BHD *As percentage of NAV RHB Asset Management Sdn Bhd (174588-x) 10.97% 0% 40% 4.15 3.87 3.85 3.80 3.58 Source: Lipper IM 3.07% 50% 100% Historical Distributions (Last 5 Years) (Net) Distribution Yield (%) (sen) 22 Mar 2018 2.2000 2.42 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 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 – MAY 2018 All data expressed as at 30 April 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 were propelled by Developed Markets (+1.0%) to edge up 0.8% in April 2018, lifting year-to-date (YTD) returns to -0.6%. Among the Developed Markets, United States (US) added 0.3%, Europe 2.2% and Japan 0.7%. Futures markets participants are anticipating three more rate hikes in 2018, driving 10-year Treasury yields to scale 3.0% for the first time since 2014. The consequent strengthening of the United States Dollar (USD) (+2.1%) caused further downslide in Emerging Markets (EMs) Commodities performed strongly in April 2018 - energy prices sustained their rally from March 2018 (Brent Crude: +8.5%, Gasoline: +5.2%), industrial metals rose sharply (Aluminium: +12.5%, Copper: +1.4%). Asia Ex Japan equities rose 0.6% in April 2018 after a roller coaster ride during the month. China and Hong Kong fell sharply in the first week on rising trade war concerns as China retaliated to the US tariffs on Chinese imports announced in March 2018, leading to consideration of additional tariffs by the US. However, markets recovered during the second half as tensions diffused with the continued opening up of the economy by China. A 100 basis points (bps) Required Rate of Return (RRR) cut by the People’s Bank of China (PBoC) provided comfort for investors. India (+4.1%) staged a mild recovery during the month after substantial underperformance in the first quarter, driven by the strong performance of software sector (+7.2%). Korea (+2.7%) was the cynosure in April 2018 with the historical Summit with North Korea paving the way for a peaceful, nuclear-free Korean Peninsula. Taiwan (-4.6%) was dragged down by the tech sector (-7.8%), which was suffering from the muted demand for iPhones as well as softer guidance from analysts for the next fiscal year. The Kuala Lumpur Composite Index (KLCI) ended April 2018 with a 0.4% month-on-month (MoM) gain to close at 1,870 points and raised its cumulative gain to 4.1% in YTD. This could be due to foreign net buy of RM1.5 billion (bn) during the month. The KLCI also outperformed the MSCI Asia Pacific ex-Japan index (MXASJ) in April as well as the broader market and small cap sectors. The best performing sectors in April 2018 were Real Estate Investment Trust (REIT), construction and finance sectors. April 2018 was an eventful month for the Malaysian market. Malaysia’s Prime Minister announced the dissolution of Parliament on 6 April 2018, paving the way for a general election (GE14) on 9 May 2018. Bursa Malaysia implemented the intraday short-selling framework for all investors on 16 April and the KLCI index posted a new record high of 1,895 points on 19 April 2018. MARKET OUTLOOK AND STRATEGY The unpredictability of how the trade relationship between the US and China unfolds ahead is now a key risk to equity markets – now well-conditioned to keep buying the dip. The potential risks will weigh on technology stocks, and escalation fears are likely to be a drag on the market. Investors remain complacent on inflation and monetary policies and, as the US Federal Reserve (US Fed) normalises and rates rise at a faster pace than what is currently priced in, we forecast a 25bps hike every quarter to end-2019. Apart from Malaysia General Elections or GE14 results, investors will be tracking 1Q18 corporate earnings season and the 1Q18 Gross Domestic Product (GDP) growth for Malaysia due out on 17 May 2018. We probably expect to see corporates to announce poor earnings due to margin squeeze arising from high commodity prices. In this regard, we are in no hurry to accumulate and would only buy on weaknesses. DISCLAIMER: Based on the fund’s portfolio returns as at 15 April 2018, the Volatility Factor (VF) for this fund is 11.9 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