AIA India Opportunities Fund /
AIA India Balanced Fund
January 2016
Investment Objective
AIA India Opportunities Fund
To achieve long-term capital growth by investing in securities of companies which are incorporated in India or which derive sign ificant revenue or profit from India.
AIA India Balanced Fund
To achieve long-term capital growth principally from a portfolio of equity and equity-related securities of companies listed on stock exchanges in India or closely related to
the economic development and growth of India, as well as stable income with capital preservation through investments in primarily fixed income securities of high credit
quality issuers, denominated primarily in SGD, in such proportion as the manager deems fit.
Key Fund Facts
AIA India Opportunities Fund
AIA India Balanced Fund
Launch Date: 6 December 2005
Launch Price: S$ 1.000
Manager of ILP Fund: Aberdeen Asset Management Asia Limited
Name of Underlying Fund: Aberdeen India Opportunities Fund
Manager of Underlying Fund: Aberdeen Asset Management Asia Limited
Sales Charge (For Cash and SRS): 5% (included in bid-offer spread)
Sales Charge (For CPF OA): 3%
Pricing Frequency: Daily
Management Fees: 1.5% p.a. of Net Asset Value
Subscription: Cash, CPF (OA) and SRS
Bid:
Offer:
Fund Size:
S$ 1.904
S$ 2.005
S$ 224,904,834
As of 30 November 2015
As of 30 November 2015
As of 30 November 2015
Launch Date: 10 August 2005
Launch Price: S$ 1.000
Manager of ILP Fund: PineBridge Investments Singapore Limited
Name of Underlying Funds: Aberdeen India Opportunities Fund and
PineBridge International Funds - Singapore Bond Fund
Manager of Underlying Funds: Aberdeen Asset Management Asia Limited
and PineBridge Investments Singapore Limited
Sales Charge (For Cash and SRS): 5% (included in bid-offer spread)
Sales Charge (For CPF OA or SA): 3%
Pricing Frequency: Daily
Management Fees: 1.5% p.a. of Net Asset Value
Subscription: Cash, CPF (OA & SA) and SRS
Bid:
S$ 1.724
Offer:
S$ 1.815
Fund Size: S$ 338,005,888
Manager’s Commentary*
As of 30 November 2015
As of 30 November 2015
As of 30 November 2015
As of 30 November 2015
Source: Aberdeen Asset Management Asia Limited
Indian equities slipped in November as investors reeled from the BJP’s heavy defeat in Bihar’s state elections. Heightened geopolitical tensions, worries about an impending US
interest rate hike and a sharp drop in Chinese stocks amid investigations into several mainland brokerages further weighed on sentiment.
India overtook China to become the world’s fastest-growing major economy as GDP accelerated to 7.4% in the July-September quarter. However, inflation ticked up, exports
contracted further and the lacklustre industrial sector continued to dampen economic potential.
The pay commission announced an additional 24% pay hike for civil servants and retirees. Combined with standard annual wage growth, this amounts to an increase of 34.5%,
swelling government expenditure by around 0.50% of GDP and making the 2017 fiscal deficit target of 3.5% a more challenging proposition. However, it will likely boost stagnant
consumer spending, with holdings such as Godrej Consumer Products, Hindustan Unilever and ITC among the potential beneficiaries.
Elsewhere, ICICI Bank will sell a 4% stake in its life insurance venture to Premji Invest, owned by Wipro founder Azim Premji, and another 2% to Compassvale Investments, a unit of
Singapore’s Temasek Holdings. This values the venture at US$5 billion, with ICICI expected to spin it off via an IPO to unlock value.
Nestle India has resumed production of Maggi Noodles for the first since the nationwide ban. It sold 45 million packets in the first two weeks of the re-launch, suggesting the brand did
not unduly suffer from the allegations of high-lead content.
In November, Aberdeen topped up Infosys, taking advantage of its attractive valuations following recent weakness. The company continues to be a dominant force in the industry and
boasts a net-cash balance sheet. Furthermore, it is well-placed to enjoy solid growth in operating margins when the sector recovers.
Performance
AIA India Opportunities Fund
1 Month
Period
-3.30%
Fund (bid-to-bid)
-4.20%
Benchmark
Notes:
^ Annualised returns
Current benchmark: MSCI India Index
Bid-to-bid, net dividends reinvested, SGD, from Inception to
3 Months
-2.41%
-2.93%
6 Months
-4.51%
-5.51%
1 Year 3 Year^
-0.42% 13.02%
-6.86% 8.01%
As of 30 November 2015
5 Year^
Since Inception^
5.10%
7.22%
-0.18%
5.92%
AIA India Opportunities Fund
260
240
220
200
180
160
140
120
100
80
60
40
AIA India Opportunities Fund
Benchmark
Source: AIA Singapore
AIA India Opportunities Fund
AIA India Balanced Fund
1 Month
Period
-1.99%
Fund (bid-to-bid)
-2.61%
Benchmark
3 Months
-0.75%
-0.79%
6 Months
-2.43%
-3.01%
1 Year 3 Year^
0.88%
8.98%
-3.70% 5.23%
5 Year^
4.36%
1.27%
Benchmark
10 Year^
5.95%
5.91%
Since Inception^
6.00%
6.08%
AIA India Balanced Fund
Notes:
^ Annualised returns
Current benchmark: 60% MSCI India Index & 40% JP Morgan Sing Govt
Bond Index All (The combined benchmark is reflective of the fund’s
investment focus)
210
190
170
150
130
110
90
70
50
AIA India Balanced Fund
Top 10 Holdings* (Equity Investments)
HDFC
Tata Consultancy Services
Infosys
ICICI Bank
ITC
Grasim Industries
Bosch
Hindustan Unilever
Ambuja Cements
Container Corporation
Total
Benchmark
As of 30 November 2015
Holdings (%)
8.7
7.4
7.1
6.6
5.3
4.5
4.0
3.8
3.7
3.7
54.8
Sector Allocation* (Equity Investments)
As of 30 November 2015
Holdings (%)
Financials
Information Technology
Materials
Consumer Staples
Healthcare
Consumer Discretionary
Industrials
Utilities
Telecommunication Services
Cash
Total
22.2
17.1
16.3
16.1
9.8
7.6
5.4
2.6
2.3
0.6
100.0
Financials 22.2
Materials 16.3
Healthcare 9.8
Industrials 5.4
Telecommunication Services 2.3
Information Technology 17.1
Consumer Staples 16.1
Consumer Discretionary 7.6
Utilities 2.6
Cash 0.6
Notes:
1. Performance of the funds are in SGD without taking into consideration the fees and charges payable through deduction of pr emium or cancellation of
units and with net dividends reinvested.
2. All subscriptions in the AIA India Balanced Fund were held as cash during the fixed price period from 10 August 2005 till 9 September 2005, and were
invested in the underlying funds with effect from 12 September 2005.
* Information from the underlying Aberdeen India Opportunities Fund. Source: Aberdeen Asset Management Asia Limited
AIA India Opportunities Fund and AIA India Balanced Fund are investment -linked policy (ILP) funds offered by AIA Singapore Private Limited (“AIA Singapore”) and are only available under AIA
Investment-Linked Policies. AIA Singapore is the product provider. This fact sheet is prepared by AIA Singapore and the information presented is for informational use only. Investments are subject to
investment risks including the possible loss of the principal amount invested. Past performance, as well as the prediction, p rojection or forecast on the economy, securities markets or the economic
trends of the markets are not necessarily indicative of the future or likely performance of the ILP funds. The performance of the ILP funds is not guaranteed and the value of the units in the ILP funds
and the income accruing to the units, if any, may fall or rise. A product summary relating to the ILP funds is available and may be obtained from your AIA Financial Services Consultant. A potential
investor should read the product summary before deciding whether to subscribe for units in the ILP funds. AIA Singapore does not warrant or make any representations regarding the use or the
results of the use of the figures generated in terms of their correctness, accuracy, reliability, or otherwise.
E. & O. E.
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