RHB Global Food Islamic Equity Fund Report - January 2021

Transcription

1. FUND FACTSHEET - JANUARY 2021 All data expressed as at 31 December 2020 unless otherwise stated RHB GLOBAL FOOD ISLAMIC EQUITY FUND The Fund aims to achieve medium to long-term capital appreciation , through investments in Shariah-compliant securities of companies that are involved in the food based and/or food-related businesses globally. INVESTOR PROFILE INVESTMENT STRATEGY This Fund is suitable for Investors who: • seek global Shariah-compliant equity investment exposure; • wish to participate in the potential gains from investing in Shariah-compliant securities of companies involved in food and food related businesses; • are willing to accept higher risk in their investments to obtain potentially higher returns in the medium to long-term; • seek capital appreciation. • 70% to 98% of NAV: Investment in Shariah-compliant equities and equity-linked securities such as warrants and preferred shares of companies that are involved in the food and food-related businesses and which offers growth potential and/or dividend. • 2% to 30% of NAV: Investments in sukuk, Islamic money market instruments, cash and Islamic deposits with financial institutions. 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 Aug 2020) Min. Initial Investment Min. Additional Investment Benchmark Cumulative Performance (%)* 1 Month Fund 0.78 Benchmark 0.57 3 Months 4.81 1.72 6 Months 4.81 3.46 YTD -8.20 7.00 3 Years -9.54 22.50 5 Years -5.50 40.26 Since Launch 20.77 88.75 2019 1.10 7.00 2018 -2.53 7.00 2017 -9.49 7.00 1 Year -8.20 7.00 Fund Benchmark Calendar Year Performance (%)* 2020 Fund -8.20 Benchmark 7.00 Sales Charge Redemption Charge Annual Management Fee Annual Trustee Fee Distribution Policy RHB Islamic International Asset Management Berhad HSBC (Malaysia) Trustee Bhd Equity Fund (Shariah-compliant) Growth Fund 11 August 2011 RM0.4402 RM0.87 1.98 31 August 6.35% RM1,000.00 RM100.00 7.00% growth p.a. in NAV of a unit over a medium to long-term# Up to 5.50% of investment amount*# None 1.80% p.a. of NAV* Up to 0.08% p.a. of NAV* Incidental *All fees and charges payable to Manager and the Trustee are subject to any applicable taxes and/or duties and at such rate as may be imposed by the government from time to time. 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. #For CIMB Wealth Advisors Berhad only, Sales Charge up to 6.50% of investment account. 2016 15.41 7.00 This is only a measurement of the Fund's performance and is not a guaranteed return. The Fund may not achieve the aforesaid 7% per annum growth rate in any particular financial year but targets to achieve this growth over the medium to long term. Source: Lipper IM FUND PORTFOLIO ANALYSIS Asset Allocation* FUND STATISTICS Country Allocation* Consumer Staples 70.00% Materials 9.78% Consumer Discretionary 5.69% Health Care 2.59% Industrials 2.44% Cash 9.50% 0% 20% Top Holdings (%)* ASTRA AGRO LESTARI TBK PT PPB GROUP BHD TA ANN HOLDINGS BHD FIRST RESOURCES LTD D&L INDUSTRIES INC *As percentage of NAV 40% 60% Indonesia Malaysia Japan South Korea Singapore Philippines China United States Taiwan United Kingdom Cash 80% 27.71% 17.47% 15.62% 7.53% 4.73% 4.69% 3.62% 3.52% 2.81% 2.80% 9.50% 0% 5% 10% 15% Historical NAV (RM) 1 Month High 0.4445 Low 0.4368 12 Months 0.4805 0.3554 Since Launch 0.5931 0.3554 Source: Lipper IM 20% 25% 30% 6.87 5.95 5.10 4.74 4.70 RHB Islamic International Asset Management Berhad (879478-A) Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur
2. FUND FACTSHEET - JANUARY 2021 All data expressed as at 31 December 2020 unless otherwise stated RHB GLOBAL FOOD ISLAMIC EQUITY FUND The Fund aims to achieve medium to long-term capital appreciation , through investments in Shariah-compliant securities of companies that are involved in the food based and/or food-related businesses globally. MANAGER'S COMMENTS MARKET REVIEW Equity markets staged a strong rally to advanced 4.5% in December 2020 to cap off one of the most tumultuous years. Availability of vaccine trumped the intensification the second wave in Europe and the United States (US) and helped the global growth recovery circumvent any substantial dent, as numerous countries started inoculating their populations. As a result, growth-sensitive commodities extended their winning streak with Brent Crude adding 8.8%, Iron Ore (+24.9%), Copper (+2.5%), Silver (+16.6%). The vaccine optimism together with the second pandemic relief bill in US helped Developed Markets return 4.1% in December 2020, with the US rising 4.0%, Europe 4.6% and Japan 4.0%. Meanwhile Asia ex-Japan scaled 6.6% in December 2020 to finish off the year at the top of the regional rankings at 22.5%. Korea rose 15.6% in December 2020 (year-todate: 42.6%) was driven by the technology hardware sector while strong export orders thrusted Taiwan up 10.3%. ASEAN ended a sobering year (year-to-date: -9.3%) Malaysia specifically was a key standout within ASEAN markets, ending at +4.1% vs its other emerging counterparts which all closed in the red (Indonesia -5.5%, Philippines – 3.6% and Thailand -9.2%). MARKET OUTLOOK 2020 will definitely be a year to remember for a long time. But despite the emergence of Coronavirus Disease 2019 (COVID-19) at the start of the year and much of the world spent their time under lockdowns, majority of markets still managed to record positive returns with some reaching double digits or record highs. Investors are looking at beyond 1H21 now and the expectations are the economy will recover strongly from 2H21 due to the availability of vaccines which will result in more countries opening up their economy. The key themes for 2021 is the recovery in the economy and global trade. Hence, we expect cyclical sectors to benefit as the economy recovers. Also, we opined that Environment Social and Governance (ESG) factors will be one of the important criteria in picking stocks as well. We foresee the return of global funds to Asian markets in 2021. We do expect equity market to go higher as corporate earnings improve along with the gradual recovery in the economy and foreign inflows moving back into the region. Uncertainties are still prevailing due to the surging local COVID-19 that may force further lockdowns that would overshadow optimism over recent vaccine developments. DISCLAIMER: Based on the fund’s portfolio returns as at 14 December 2020, the Volatility Factor (VF) for this fund is 11.8 and is classified as “Moderate”. (source: Lipper) “Moderate” includes funds with VF that are above 9.6 but not more than 12.8 (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 30 June 2020 which is calculated once every six months and is valid until its next calculation date, i.e. 31 December 2020. 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 contents of the PHS and Prospectus dated 15 March 2017 and its supplementary(ies) (if any) (“collectively known as the Prospectus”) before investing. The Prospectus has been registered with the Securities Commission Malaysia ("SC") who takes no responsibility for its contents. The SC’s approval or authorization, or the registration of the Prospectus should not be taken to indicate that the SC has recommended the fund. 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 Prospectus relates will only be made on receipt of a form of application referred to in the Prospectus. For more details, please call 1-800-88-3175 for a copy of the PHS and the Prospectus or collect one from any of our branches or authorised distributors. . If in any doubt, consult your banker, lawyer, stockbroker or an independent financial adviser. The Manager wishes to highlight the specific risks of the Fund are market risk, particular securities risk, reclassification of Shariah status risk, single sector risk, interest rate risk, credit / default risk, currency risk , country risk and equity related securities risk. These risks and other general risks are elaborated in the Prospectus. This Fund 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. This Fund Factsheet has not been reviewed by the SC. RHB Islamic International Asset Management Berhad (879478-A) Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur