UOB Smart Gold Fund Currency Hedged : UOBSG - H

Transcription

1 UOB Smart Gold Fund Currency Hedged : UOBSG - H Interim Report (March 1, August 31, 2018) UOB Smart Gold Fund Currency Hedged 1

2 Content Page Message from the Company 1 List of Board of Directors and Management Team 2 Supervisor Report 3 Name List of Fund Manager 4 Fund Performance 5 SPDR Gold Shares (Master Fund) 6 Fund Expenses 8 Brokerage Fee 9 Fund Details of Investment, Borrowing and Obligations 10 Details of Investment in the Futures contacts 11 Financial Report 12 Portfolio Turnover Ratio (PTR) 13 Credit rating of the bank or financial institution 14 List Details of Soft Commission 15 List of Connected Person with transaction 16 Report on non-compliance of investment limit 17 Information on the exceeding of 1/3 Unit holding 18 UOB Smart Gold Fund Currency Hedged 2

3 Message from the Company To Unitholders The fund seeks to generate a return on investment by investing in SPDR Gold Trust, a fund that has a direct investment in gold bullion, at not less than 80% of the net asset value of the Fund in each accounting period. SPDR Gold Trust is managed by World Gold Trust Services, LLC which is owned by World Gold Council (WGC) and listed on various stock exchanges including New York, Japan, Hong Kong and Singapore. During this period, the fund reported negative return of 10.78%, comparing to a decline of 9.30% of its benchmark. Gold prices declined during the period as firming Fed rate hike speculation undermined demand for noninterest-bearing assets. Strong economic data in U.S. and higher inflation number encourage continuing tightening probability and pushing the U.S. dollar, which in recent years have been negatively correlated to gold prices, higher. However, uncertainty about U.S. policy under the Trump administration and geopolitical uncertainty will be supportive factors for gold prices. UOB Smart Gold Fund Currency Hedged Return During Return During Mar 1, 2018 Aug 31, 2018 Sep 1, 2017 Feb 28, 2018 Fund % -0.13% Benchmark (Thai Baht) -9.30% 0.47% Benchmark: London Gold PM Fixing Price/USD Index converted into Thai Bath As we have managed UOB Smart Gold Fund Currency Hedged for a period of half year on August 31, 2018 we would like to inform the net value to unit holder, The fund has a net asset value 128,995, Baht in asset value or its earning per unit is at Baht. In this connection, we would like to express our sincere thanks to the trust of all Unitholders has been extended to us for your investment management UOB Smart Gold Fund Currency Hedged. Should you have any further question or need more information, You can monitor or follow the announcement the net asset value of the Fund in the company website. UOB Asset Management (Thailand) Co., Ltd. (Mr. Vana Bulbon) Chief Executive Officer UOB Smart Gold Fund Currency Hedged 1

4 Board of Directors List of Board of Directors And Management Team UOB Asset Management (Thailand) Co., Ltd. 1. Mr. Lee Wai Fai Chairman Board of Director 2. Mr. Thio Boon Kiat Director 3. Mr. Sanchai Apisaksirikul Director 4. Ms. Piyaporn Ratanaprasartporn Director 5. Mr. Vana Bulbon Director and CEO Management Team 1. Mr. Vana Bulbon Chief Executive Officer 2. Mrs. Sunaree Piboonsakkul Senior Director (Operation Division) 3. Mr. Jerdphan Nithayayon Senior Director (Investment Division) 4. Ms. Rachada Tangharat Senior Director (Business Development Division) Office Location UOB Asset Management (Thailand) Co., Ltd. 23A, 25 Floor, Asia Centre Building, 173/27-30, South Sathon Road, Thungmahamek, Sathon, Bangkok 10120, Thailand Tel : Fax : UOB Smart Gold Fund Currency Hedged 2

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6 UOB Smart Gold Fund Currency Hedged Name List of Fund Manager For the period of March 1, 2018 to August 31, 2018 No. Name List of Fund Manager 1 Ms. Vannachan Ungthavorn* 2 Mr. Kittiphong Kangwankiattichai* 3 Mr. Vijak Na Chiengmai * Fund manager and portfolio manager in derivatives ( if any ). UOB Smart Gold Fund Currency Hedged 4

7 Fund Performance Registration Date Mar 14, 2012 Ending Date of Accounting Period Aug 31, 2018 Remark : 1.Return per period 2. Return per year 3. If Since inception < 1 Year Return per period, If Since inception > 1 Year Return per year - LBMA Gold Price PM index adjusted by the cost of hedging the exchange rate. To calculate the return on investments denominated in baht. - Performance measures used in this annual report comply with AIMC performance presentation standards. - Past performance / performance comparison relating to a capital market product is not a guarantee of future results. UOB Smart Gold Fund Currency Hedged 5

8 SPDR Gold Shares (Master Fund) UOB Smart Gold Fund Currency Hedged 6

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10 Called expenses from fund (Fund's direct expense) UOB Smart Gold Fund Currency Hedged Total Expenses as called from fund Table From March 1, 2018 To August 31, 2018 Amount Unit : Thousand Percentage of Net Assets Value Management fee Trustee fee Transaction fee - - Registrar fee Advisory fee - - Sale Promotion - IPO - - Sale Promotion - After IPO - - Auditing Fee Other Expenses* Total Expenses ** Remark * Other expense which each items is less than 0.01% of NAV ** Included VAT (if any) and Not included brokerage fee UOB Smart Gold Fund Currency Hedged 8

11 UOB Smart Gold Fund Currency Hedged Brokerage Fee From March 1, 2018 To August 31, 2018 Broker Name Brokerage Fee % of Total (Baht) Brokerage Fee 1 CGS-CIMB SECURITIES (THAILAND) COMPANY LIMITED 7, Commerzbank AG 5, Total 12, UOB Smart Gold Fund Currency Hedged 9

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13 Details of Instruments and the Ranking of Credit of respective Instruments in the Portfolio UOB Smart Gold Fund Currency Hedged As of August 31, 2018 Detail of investment in the Futures contacts Type of Contract Counter Party Rating Objective Market Value %NAV Maturity Date (net gain/loss) Currency Derivatives Contracts Forward Contracts TMB BANK PUBLIC COMPANY LIMITED AA- Hedging 1,808, /11/2018 1,808, THE SIAM COMMERCIAL BANK PUBLIC COMPANY LIMITED AA+ Hedging -56, /11/ , UOB Smart Gold Fund Currency Hedged 11

14 UOB Asset Management (Thailand) Co., Ltd. UOB Smart Gold Fund - Currency Hedged Financial Statement (Unaudited) Statements of Income From March 1, 2018 To August 31, 2018 Balance sheets As at August 31, 2018 Assets Investment Incomes Investments at fair value (at cost : Baht 167,110, ) 123,858, Dividend income 0.00 Cash at banks 3,555, Interest income 9, Accounts receivable Other income 15, From sales of investments 0.00 Total incomes 24, From dividend and interest 2, Expenses Deferred expenses - net 0.00 Management fee 661, Other asset 1,752, Trustee fee 22, Total Assets 129,169, Registrar fee 88, Set-up Fund Fee 0.00 Liabilities Investment advisory fee 0.00 Accounts payable From purchases of investments 0.00 Professional fee 23, Accrued expenses 148, Deferred expenses-written off 0.00 Other liabilities 25, Other expenses Total Liabilities 174, Total expenses 796, Net income (loss) from investments (771,482.36) Net assets : 128,995, Gain (Loss) on exchange rate (8,177,228.50) Net gain (loss) on investments Net assets Net realized gain (loss) on investments (2,720,515.89) Capital received from unitholders 185,468, Net unrealized gain (loss) on investments (4,039,208.47) Retained earnings Net unrealized gain (loss) on forward sold contract 1,754, Equalization account 66,469, Total net gain (loss) on investments (5,005,041.97) Retained earnings (deficit) from operations (122,942,189.54) Net assets value 128,995, Increase (Decrease) in asset from operations (13,953,752.83) Net assets value per unit Dividend payment during year 0.00 Increase (Decrease) in net asset from operations (13,953,752.83) Investment units sold at the end of the year (units) 18,546, UOB Smart Gold Fund Currency Hedged 12

15 Portfolio Turnover Ratio (PTR) UOB Smart Gold Fund Currency Hedged For the period of March 1, 2018 to August 31, % UOB Smart Gold Fund Currency Hedged 13

16 Bank of deposit Credit rating of the bank or financial institution UOB Smart Gold Fund Currency Hedged As of August 31, 2018 Credit ratings by international institution Credit ratings by domestic institution United Overseas Bank (Thai) Pcl. Baa1 (Moody) AAA (Fitch) UOB Smart Gold Fund Currency Hedged 14

17 List of Soft Commission No. Brokerage Soft Commission Reason for receiving 1 UOB Kay Hian Securities (Thai land) Public Company Limited 2 Commerzbank AG 3 Capital Nomura Securities Public Company Limited 4 CGS-CIMB Securities (Thailand) Company Limited News / Researching To help with the investment decisions UOB Smart Gold Fund Currency Hedged 15

18 List of Connected Person with transactions For the Period of March 1, 2018 to August 31, 2018 List of Connected Persons who had transactions with Fund - None - Remark : The investors can verify the Connected Persons transactions of fund directly at UOB Asset Management (Thailand) Co., Ltd. or through the website of the Company ( or The Securities and Exchange Commission ( UOB Smart Gold Fund Currency Hedged 16

19 Report on non-compliance of investment limit UOB Smart Gold Fund Currency Hedged For the Period of March 1, 2018 to August 31, 2018 Date Fund Name Ratio at the end of the day (%NAV) Ratios of the project (%NAV) cause performance -None UOB Smart Gold Fund Currency Hedged 17

20 Information on the exceeding of 1/3 unit holding UOB Smart Gold Fund Currency Hedged As of August 31, None- Remark : The investor can verify the information on the exceeding of 1/3 unit holding through the website of the company ( UOB Smart Gold Fund Currency Hedged 18

21 UOB Asset Management (Thailand) Co., Ltd. 23A, 25 Floor, Asia Centre Building, 173/27-30, South Sathon Road, Thungmahamek, Sathon, Bangkok 10120, Thailand Tel : Fax : UOB Smart Gold Fund Currency Hedged 19