31 August 2016
CIMB Islamic DALI Asia Pacific Equity
Growth Fund
A S S E T
MA N A GE ME N T
(formerly known as CIMB Islamic Equity Fund)
INVESTMENT VOLATILITY
FUND OBJECTIVE
To provide investors with long-term capital growth by investing principally in equities.
Fund also seeks to outperform the benchmark.
3-year
Fund Volatlity
7.37
Moderate
The
FUND PERFORMANCE in MYR
Lipper Analytcs
15 Aug 2016
190%
170%
FUND INFORMATION
150%
Location
Kuala Lumpur, Malaysia
130%
Domicile
Malaysia
110%
Ringgit Malaysia
Fund Currency
Fund Size (MYR)
MYR 346.88 million
Fund Unit
411.54 million units
90%
Fund
Benchmark
70%
Islamic Index
Dealing
Application Fee
Daily (as per Bursa Malaysia trading day)
YTD 1 Month
Management Fee
Up to 1.50% p.a. of the NAV
Fund
Benchmark
Trustee Fee
Up to 0.06% p.a. of the NAV
Calendar Year Performance (%)
MYR 0.8428
Unit NAV (MYR)
NIL
Trustee
Feb-2016
Aug-2016
Feb-2015
Aug-2015
Feb-2014
Aug-2014
Feb-2013
Aug-2013
Feb-2012
Aug-2012
Feb-2011
Aug-2011
Feb-2010
- 50%
Cumulative Performance (%)
IUTAs: Up to 6.50% of the NAV per unit
CWA: Up to 6.50% of the NAV per unit
Aug-2010
- 30%
Feb-2009
Index + 70% MSCI AC Asia ex Japan
Aug-2009
30% FTSE Bursa Malaysia EMAS Shariah
Feb-2008
- 10%
Benchmark
Aug-2008
10%
Feb-2007
8 October 2004
Aug-2007
Fund Inception (MYR)
Feb-2006
30%
Aug-2006
8 October 2004
Feb-2005
Fund Launch
Aug-2005
50%
Fund
Benchmark
-0.94
1.86
Yield (%)
6 Months
4.96
6.21
6.62
9.32
1.24
2.19
1 Year 3 Years 5 Years
3.18
7.87
21.61
17.10
Since
Inception
49.45
34.53
176.87
116.34
2015
2014
2013
2012
2011
2010
9.99
5.07
3.54
1.66
13.48
10.22
14.72
11.56
-5.82
-7.78
10.30
12.25
Most Recent Fund Distributions
Gross (Sen/Unit)
3 Months
2015
Oct
2014
Nov
2012
Nov
2012
Mar
2011
Jun
2009
Sep
5.40
6.34
5.35
6.04
4.60
5.92
4.50
6.03
4.94
6.18
4.00
7.39
Note: October 2004 to August 2016.
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.
CIMB-PRINCIPAL AWARDS AND ACCOLADES
Currency
MYR
ISIN Code
Bloomberg Ticker
MYU1000BD009
SBBIKLS MK
CIMB-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.cimb-principal.com.my
^Based on the fund's portfolio returns as at 15 August 2016, the Volatility Factor (VF) for this fund is 7.37 and is
classified as "Moderate" (source: Lipper). "Moderate" includes funds with VF that are above 6.455 but not more than
8.405. 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 (Shariah-Compliant Funds) Issue
No. 9 dated 30 June 2016, 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, currency 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 CIMB-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.
Page 1 of 2
31 August 2016
CIMB Islamic DALI Asia Pacific Equity
Growth Fund
A S S E T
MA N A GE ME N T
(formerly known as CIMB Islamic Equity Fund)
FUND MANAGER'S REPORT
PORTFOLIO ANALYSIS
The Fund posted a 1.24% return in August 2016,
underperforming the benchmark by 0.95%. By sector,
the
fund's
underperformance
was
driven
by
the
consumer
services,
property
and
telecommunication
sectors. By country, regional markets underperformed
while
Malaysia
outperformed.
Year-to-Date,
the
fund
has shed 0.94%, underperforming the benchmark by
2.80%.
ASSET ALLOCATION
Shariah-compliant Equities (Foreign)
65.62%
Shariah-compliant Equities (Local)
26.69%
Cash
7.69%
100.00%
Total
The Shariah Asian equity universe rose 2.86% in
August, with outstanding performances from China and
Thailand. Foreign fund inflows were more selective
compared to previous months, with several markets
seeing slight net outflows. Equity markets in Asia
continue to be supported by central bank easing.
Real
rates remain generally positive across the region, with
inflation continuing to ease across most countries.
Meantime, earnings revision seem to be stabilizing with
some selective upgrades. Valuations are reasonable at
12X P/E. In August, the FBM Emas Shariah Index
(FBMS) rose 1.90% to close at 12,430.50. Our market
view and strategy are still intact. We continue to expect
sluggish growth, low inflation and easy central banks
policies to support growth. As valuations are rich and
near the top end of the range, we believe that markets
will trade range-bound with a slight upward bias. Going
forward,
we
will
watch
for:
1)
Earnings
growth
stabilisation 2) Pre-election budget and 3) Progress of
GLC restructuring efforts
SECTOR BREAKDOWN
On the regional front, we look to buy on dips. As we
head into 2H16, we see positive local factors favoring
Asia
markets
balanced
against
risks
from
global
macroeconomics. Our preference is balanced between
ASEAN including India and North Asia. We intend to
generate alpha via stock selection and investments into
growth
opportunities
like
e-commerce
and
electric
vehicles.
On
the
domestic
front,
we
still
see
opportunities in the Malaysian GLC restructuring theme
in the medium term in the plantation, property and
services sectors. In a slow growth environment, we
continue to like high dividend yielders. W
COUNTRY ALLOCATION
Consumer
19.32%
Hong Kong
26.96%
Trading / Services
15.76%
Malaysia
26.69%
Telecommunications
10.61%
India
10.26%
Technology
10.19%
South Korea
10.16%
Oil & Gas
7.03%
Indonesia
4.98%
Financials
6.03%
China
4.64%
Industrials
5.76%
Philippines
3.42%
Basic Materials
2.94%
Singapore
3.38%
Utilities
2.88%
United States
1.82%
Plantations
2.85%
Cash
7.69%
Construction
2.64%
Health Care
2.09%
IPC
2.08%
Mutual Fund
1.47%
Finance
0.38%
Properties
0.28%
Cash
7.69%
Total
100.00%
100.00%
Total
TOP HOLDINGS
RISK STATISTICS
1 Tencent Hldg Ltd
Hong Kong
9.34%
2 Tenaga Nasional Bhd
Malaysia
4.64%
3 Techtronic Industries Co
Hong Kong
3.44%
4 LG Chem Ltd
South Korea
2.94%
5 Telekomunikasi TBK PT
Indonesia
2.81%
6 Singapore Telecommunications
Singapore
2.68%
Beta
0.82
7 CNOOC Ltd
Hong Kong
2.43%
Information Ratio
0.25
8 China Telecom Corp Ltd
China
2.19%
Sharpe Ratio
0.44
9 Maruti Suzuki India Ltd
India
2.17%
Hong Kong
2.14%
3 years monthly data
10 Link REIT
Total
34.78%
Page 2 of 2