31 October 2016

CIMB Islamic DALI Equity Fund

A S S E T

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

INVESTMENT VOLATILITY

FUND OBJECTIVE
To achieve a consistent capital growth over the medium to long-term.

3-year
Fund Volatlity

6.77
Moderate

FUND PERFORMANCE in MYR

Lipper Analytcs

15 Oct 2016
240%
220%

FUND INFORMATION

200%
180%

Location

Kuala Lumpur, Malaysia

Domicile

Malaysia

160%

Ringgit Malaysia

140%

Fund Size (MYR)

MYR 868.75 million

120%

Fund Unit

770.81 million units

100%

Fund Currency

Fund
Benchmark

80%

Fund Launch

30 April 2003

60%

Fund Inception (MYR)

30 April 2003

40%
20%

Benchmark

70% FTSE Bursa Malaysia EMAS Shariah

0%

M ar-2005 M ar-2007 M ar-2009 M ar-2011 M ar-2013 M ar-2015

M ar-2004 M ar-2006 M ar-2008 M ar-2010 M ar-2012 M ar-2014 M ar-2016

Index + 30% MSCI AC Asia ex Japan

Islamic Index

Dealing
Application Fee

Daily (as per Bursa Malaysia trading day)

Cumulative Performance (%)

YTD 1 Month

IUTAs: 6.50% of the NAV per unit

CWA: 6.50% of the NAV per unit

Management Fee

1.85% p.a. of the NAV

Fund
Benchmark

Trustee Fee

0.06% p.a. of the NAV

Calendar Year Performance (%)

MYR 1.1270

Unit NAV (MYR)

Fund
Benchmark

-1.61
-0.29

Yield (%)

6 Months

2.33
2.66

6.11
5.13

0.07
-0.04

1 Year 3 Years 5 Years

0.06
1.02

11.24
6.00

Since
Inception

45.94
30.27

228.16
167.72

2015

2014

2013

2012

2011

2010

8.91
4.77

0.68
-0.70

16.73
11.48

13.80
11.71

-0.59
-3.80

9.44
11.23

Most Recent Fund Distributions

Gross (Sen/Unit)

3 Months

2016
Jun

2015
Jun

2014
Jun

2013
Jun

2012
Jun

2011
Aug

6.20
5.46

7.50
6.06

7.00
5.63

7.00
5.67

6.62
5.99

6.70
5.67

Note: April 2003 to October 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

MYU1000BC001

BHLPDA2 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 October 2016, the Volatility Factor (VF) for this fund is 6.77 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 October 2016

CIMB Islamic DALI Equity 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 fund rose 0.07% in October 2016, outperforming

the
benchmark
by
0.11%.
By
sector,
the
fund's
outperformance was driven by industrials, financials and
telecommunications.
By
country,
Malaysia
outperformed,
while
regional
equities
underperformed.
Year-to-date, the fund lost 1.61%, underperforming the
benchmark by 1.32%.

ASSET ALLOCATION
Shariah-compliant Equities (Local)

66.01%

Shariah-compliant Equities (Foreign)

27.75%

Cash

6.24%

100.00%

Total

Asian equities fell 1.5% (USD), impacted by falling oil

price,
Chinas
restrictions
on
residential
property
transactions, rising US bond yields and US Dollar
strength. For 2017, we expect Asias corporate earnings
to grow 5% yoy, a substantial recovery from the
negative growth of the past 2 years. We expect overall
returns for Asian equities in 2017 to be in the
high-single digits, supported by dividend yield of 2.5%.
Downside would be limited by global central banks
proactive policies to limit financial risks, bottoming of
inflation and a rebound in earnings growth.

SECTOR BREAKDOWN

Meanwhile, the FTSE Bursa Malaysia Emas Shariah

Index rose 0.3% in October driven by a mild pre-Budget
2017 run-up despite a weaker Ringgit and lower Brent
crude
oil
price.
We
are
cautiously
optimistic
on
Malaysia going into 2017 on the back of fewer earnings
downgrades and supportive market valuations at 1.7x
Price/Book vs 5 year averages of 2.0x. In the short term,
we expect markets to be volatile post the US elections,
but we view any pullback as a buying opportunity. We
expect a market return of c.5% for 2017.
For regional equities, we remain buyers on dips, and
intend to be fully invested. We like e-commerce, sharing
economies,
energy
and
basic
materials.
We
like
Indonesia, China and India, but we are cautious on
Thailand
and
Philippines
due
to
political
considerations.
For Malaysia, we are net buyers,
seeking
opportunities
in
the
government-linked
companies
restructuring
theme
in
the
plantation ,
logistics, services and utilities sectors. We maintain our
overweight in the construction sector.

COUNTRY ALLOCATION

Trading / Services

32.40%

Malaysia

66.01%

Industrials

12.02%

Hong Kong

10.69%

Consumer

11.58%

India

4.10%

Plantations

6.59%

South Korea

3.88%

Construction

5.80%

Indonesia

2.73%

Technology

5.37%

China

2.73%

IPC

4.70%

Singapore

1.39%

Oil & Gas

4.13%

Philippines

1.04%

Telecommunications

4.10%

United States

0.57%

Financials

1.82%

Thailand

0.31%

Basic Materials

1.77%

Taiwan

0.31%

Properties

1.15%

Cash

6.24%

Health Care

1.10%

Mutual Fund

0.48%

REITS

0.45%

Utilities

0.30%

Cash

6.24%

Total

100.00%

100.00%

Total

TOP HOLDINGS

RISK STATISTICS

1 Tenaga Nasional Bhd

Malaysia

8.54%

2 Sime Darby Bhd

Malaysia

6.52%

3 Tencent Hldg Ltd

Hong Kong

4.05%

4 Petronas Chemicals Group Bhd

Malaysia

2.84%

5 Gamuda Bhd

Malaysia

2.81%

6 Petronas Gas Bhd

Malaysia

2.73%

Beta

0.80

7 Pos Malaysia Bhd

Malaysia

2.63%

Information Ratio

0.45

8 Telekom Malaysia Bhd

Malaysia

2.35%

Sharpe Ratio

0.03

9 Felda Global Ventures Holdings

Malaysia

2.19%

Malaysia

2.15%

3 years monthly data

10 Time Dotcom Bhd

Total

36.81%

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