RHB Islamic Asean Megatrend Fund Report - August 2017

Transcription

1. FUND FACTSHEET – AUGUST 2017 All data expressed as at 31 July 2017 unless otherwise stated RHB ISLAMIC ASEAN MEGATREND - MYR CLASS This Fund aims to achieve medium to long term capital appreciation through investments in Shariah-compliant securities of companies with high growth potential. INVESTOR PROFILE INVESTMENT STRATEGY This Fund is suitable for Investors who: • wish to participate in the potential and investment opportunities in Shariah-compliant securities of the fast growing ASEAN economies; and • are willing to accept higher risk in their investments in order to achieve medium to long term capital growth. • 70%-98% of NAV : Investments in Shariah-compliant equities and equity related securities. • 2%-30% of NAV : Investments in liquid assets including Islamic money market instruments and Islamic deposits with financial institutions. FUND PERFORMANCE ANALYSIS FUND DETAILS Performance Chart Since Launch* Manager Trustee Fund Category Fund Type Launch Date Base Currency Unit NAV Fund Size (million) Units In Circulation (million) Financial Year End MER (as at 31 May 2017) Min. Initial Investment Min. Additional Investment Benchmark Cumulative Performance (%)* 1 Month Fund 1.05 Benchmark 2.03 Fund Benchmark 1 Year 10.41 8.75 3 Months 2.31 1.01 6 Months 4.25 4.49 YTD 4.79 7.10 Sales Charge Redemption Charge Annual Management Fee Annual Trustee Fee Switching Fee Transfer Fee Distribution Policy Since Launch 22.79 18.10 RHB Islamic International Asset Management Berhad HSBC (Malaysia) Trustee Bhd Equity Fund (Shariahcompliant) Growth Fund 26 April 2016 United States Dollars (USD) RM1.2279 RM49.10 39.99 31 May 1.43% RM1,000.00 RM100.00 FTSE Shariah ASEAN Index (Islamic). Up to 5% of investment amount. None 1.80% p.a. of NAV* Up to 0.06% p.a. of NAV* Not applicable RM5.00 per transfer Annually, if any *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. Source: Lipper IM FUND PORTFOLIO ANALYSIS Sector Allocation* FUND STATISTICS Country Allocation* Consumer Goods Technology Telecommunications Industrials Financials Consumer Services Basic Materials Health Care Utilities Cash 21.67% 15.90% 14.25% 12.98% 9.82% 7.00% 6.57% 2.57% 2.35% 6.90% 0% 5% 10% 15% 20% Indonesia Philippines Thailand Malaysia Korea Singapore Taiwan Hong Kong China Cash 25% Top Holdings (%)* PT TELEKOMUNIKASI INDONESIA CONCEPCION INDUSTRIAL CORP CHICONY ELECTRONICS CO LTD ORD TWD10 UNIVERSAL ROBINA CORPORATION NAVER CORPORATION 27.43% 18.19% 15.69% Historical NAV (RM) 1 Month High 1.2370 Low 1.1983 12 Months 1.2370 1.1056 Since Launch 1.2370 0.9906 8.50% 6.76% Source: Lipper IM 6.11% 4.79% 3.29% 2.34% 6.90% 0% 10% 20% 30% 7.86 7.11 4.79 4.69 4.19 *As percentage of NAV RHB Islamic International Asset Management Berhad (879478-A) Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur
2. FUND FACTSHEET – AUGUST 2017 All data expressed as at 31 July 2017 unless otherwise stated RHB ISLAMIC ASEAN MEGATREND - MYR CLASS This Fund aims to achieve medium to long term capital appreciation through investments in Shariah-compliant securities of companies with high growth potential. MANAGER'S COMMENTS MARKET REVIEW Global equity markets witnessed a broad-based rally in July 2017, rising 2.7% during the month and extending YTD returns to 13.2%. Consistently low inflation prints coupled with non-passage of reform measures in the US has called into question the timeline of future rate hikes as well as the beginning and quantum of the Fed's balance sheet normalization process. On the other hand, markets expectations of ECB QE tapering and revival of growth in the Eurozone has led to a stronger Euro (+3.6% in July). Asia Ex Japan added 4.9% in July 17, lifting YTD returns to 27.5%. China advanced 8.3%, as 2Q GDP growth of 6.9% yoy beat estimates despite prior tightening from the PBoC. China and India markets had a very good run this year and the momentum get even stronger in the month of July 2017. Hang Seng Index rose 6.05% driven by positive sentiment after economic report showed Gross Domestic Product (GDP) grew 6.9% yoy which significantly beat market expectation. India’s Sensex 50 rose 5.84% driven by positive news flow on smooth implementation of GST and positive corporate results. The Korean Won (KRW) rose by 2.17% and the Thai Baht THB jumped by 2.01%, were the best-performing currencies in Asia Pacific. KRW appreciated amidst strong trade activity despite net selling from foreign investors. A weak dollar also explains the rally in these export-oriented Asian currencies. Commodities posted a strong performance in July with WTI crude up 8.28% to finish at $52.17, on optimism that Oil Producing Exporting Countries (OPEC) production cuts, declining US oil inventories contributed to the rise and cutback in capex plans by US oil producers. Other commodities such as coffee, sugar and soybean have also rally on expectation of lower production due to dry weather in North and South America. South East Asia (ASEAN) market continue to underperform the broader Asian market. MSCI ASEAN Index saw an absolute return of 2.36% led by strong gains by Singapore market (+3.19%) and Philippine (+2.23. For second consecutive month, Malaysian equity market performance de-coupled from regional market and was the only market in ASEAN that delivered absolute negative return of 0.21%. MARKET OUTLOOK AND STRATEGY For the year 2017, we expect stock market volatility across all asset class including the equity, fixed income and commodity markets. Rising political and geopolitical risks are among the concerns Investors continue to focus for the rest of 2017. Global economic recovery is clearly underway as evidence by strong demand for semiconductors and electronic products. Therefore, we expect most corporates across the Asian market will report a much improve corporate profits for 2017. Overall, we maintain overweight on equities. Our key overweight remains Philippines and Indonesia Market due to favourable demographic, rising middle income group and low household income to sustain consumption growth. We also maintain high equity allocation in Non-ASEAN market by investing in Taiwan, Korea and China markets. Taiwan and Korea markets are expected to benefit from rising global economic activities while China consumer spending is expected to be re-ignited in line with sustaining recovery in economic activities. DISCLAIMER: 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 Prospectus dated 26 April 2017 and its supplementary(ies) (if any) (“the Prospectus”) before investing. The 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 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. The Manager wishes to highlight the specific risks of the Fund are restrictive geographical market risk, equity risk, foreign investment risks such as currency risk and country risk and reclassification of Shariah status risk. These risks and other general risks are elaborated in the 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 Islamic International Asset Management Berhad (879478-A) Head Office: Level 8, Tower 2 & 3, RHB Centre, 50400 Kuala Lumpur