31 December 2015

CIMB Islamic Sukuk Fund

A S S E T

MA N A GE ME N T
Available under the EPF Members Investment Scheme.

INVESTMENT VOLATILITY

FUND OBJECTIVE

3-year
Fund Volatlity

To gain higher than average income over the medium to long -term by investing in a
diversified portfolio consisting principally of Sukuk, certificates of deposit, short-term money
market instruments and other permissible investments under the Shariah principles.

1.12
Very Low

FUND PERFORMANCE in MYR

Lipper Analytcs

15 Dec 2015
80%
75%
70%

FUND INFORMATION

65%
60%

Location

Kuala Lumpur, Malaysia

55%

Domicile

Malaysia

50%

Ringgit Malaysia

Fund Currency
Fund Size (MYR)

MYR 72.56 million

Fund Unit

55.30 million units

45%
40%
35%

Fund
Benchmark

30%
25%
20%

Fund Launch

8 October 2004

Fund Inception (MYR)

8 October 2004

15%
10%
5%

Application Fee

IUTAs: Up to 2.00% of the NAV per unit

Trustee Fee

MYR 1.3121

Unit NAV (MYR)

Feb-2015

Aug-2015

Feb-2014

Aug-2014

Feb-2013

Aug-2013

Feb-2012

Aug-2012

Feb-2011

Aug-2011

Feb-2010

Aug-2010

Feb-2009

Aug-2009

Feb-2008

Aug-2008

Feb-2007

Aug-2007

Feb-2006

Cumulative Performance (%)

YTD 1 Month

Up to 0.95% p.a. of the NAV

0.06% p.a. of the NAV of the Fund

Aug-2006

Daily (as per Bursa Malaysia trading day)

CWA: Up to 2.00% of the NAV per unit

Management Fee

Feb-2005

Dealing

Quantshop GII Medium Index

Aug-2005

0%

Benchmark

Fund
Benchmark

3.53
4.87

3 Months

6 Months

1.22
2.07

1.13
1.89

0.53
0.65

1 Year 3 Years 5 Years

3.53
4.87

9.41
10.60

Since
Inception

22.52
20.09

49.70
61.85

Calendar Year Performance (%)

Fund
Benchmark

2014

2013

2012

2011

2010

2009

3.77
4.23

1.85
1.19

5.59
4.01

6.05
4.40

3.45
5.41

4.85
0.07

Most Recent Fund Distributions

Gross (Sen/Unit)
Yield (%)

2015
Apr

2014
Mar

2008
Mar

6.50
4.94

6.00
4.51

1.85
1.73

Note: October 2004 to December 2015.

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.
Source: Lipper

CIMB-PRINCIPAL AWARDS AND ACCOLADES

Currency
MYR

ISIN Code

Bloomberg Ticker

MYU1000AY007

SBBHFIZ 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 December 2015, the Volatility Factor (VF) for this fund is 1.12 and is
classified as "Very Low" (source: Lipper). "Very Low" includes funds with VF that are below 1.025. 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. 8 dated 30 June 2015, 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 credit (default) and counterparty risk, interest rate risk* and
risk of investing in emerging markets. 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.
*Note: The Fund does not invest in interest bearing instruments; the interest rate referred herein is to the general
interest rate of the country, which may affect the value of the investments of the Fund.

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31 December 2015

CIMB Islamic Sukuk Fund

A S S E T

MA N A GE ME N T
Available under the EPF Members Investment Scheme.

FUND MANAGER'S REPORT

PORTFOLIO ANALYSIS

The Funds performance for the month of December

2015 was 0.53% underperformed its benchmark by
0.12%.

ASSET ALLOCATION

The yield curve for Government Investment Issues (GII)

steepened in December with yields for the short to
medium end traded lower due to expectations that
supply for short dated issues will be limited in the
coming year. The release of 2016 auction calendar
during the month showed new issuances in the coming
year are skewed towards 7-year and above. Meanwhile,
trading volume in corporate sukuk improved slightly in
December 2015 with most trades focus on the AA
segment.

Sukuk

94.96%

Cash

5.04%

100.00%

Total

After the normalization of the Federal Reserve ("Fed")

Funds Rate by the Fed in December 2015, market will
now focus on the pace of the hiking cycle in 2016. The
market is expected to improve after local players
adopted a wait and see approach in December 2015.
Nevertheless, the uncertainty of further Fed hike in 2016
coupled with more quantitative easing by the European
Central Bank and its counterparts in Japan and China
could spawn huge volatility in the market and will surely
exert pressure on emerging markets including Malaysia .
We continue to see Overnight Policy Rate ("OPR")
staying put at current level in the near term given the
current challenging headwinds faced by the country.

SECTOR BREAKDOWN

Sukuk

94.96%

Cash

5.04%

In view of the above, we continue to remain fully

invested with focus on corporate sukuk especially on
high yielding primary issuances and repriced secondary
issuances for better yield enhancement.

100.00%

Total

RISK STATISTICS
Beta

TOP HOLDINGS
0.56

1 Special Power Vehicle

Malaysia

A1

9.17%

Information Ratio

-0.37

2 MUMTALAKAT

Malaysia

AA3

8.97%

Sharpe Ratio

-0.36

3 Jimah Energy Ventures

Malaysia

AA3

7.60%

4 UniTapah Sdn Bhd

Malaysia

AA2

7.00%

5 MMC Corporation Berhad

Malaysia

AA-

6.91%

6 Tanjung Bin Power Sdn Bhd

Malaysia

AA2

6.88%

7 Golden Assets Intl Fin Ltd

Malaysia

AA3s

6.65%

8 Sepangar Bay Power Corp

Malaysia

AA1

5.52%

9 Anih Bhd

Malaysia

AA

4.44%

Malaysia

AAA

4.12%

3 years monthly data

10 Projek Lebuhraya Usahasama Bhd

Total

67.26%

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