A-MYR (RETAIL) Growth Fund Smart Investment Choice for Constant Capital Growth Fund Factsheet 31 July 2016

Transcription

1 Fund Factsheet 31 July 2016 A-MYR (RETAIL) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. FUND DETAILS AS AT 31 JULY 2016 Fund Inception : January 7, 2003 Financial Year : August 31 Unit In Circulation : 1, Million Unit NAV : RM Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.50% of NAV Benchmark : FBM KLCI Asset Allocation : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD 3 Years Growth Total Return from 31 July 2013 to 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Rank % of YTD (1 January July 2016) 1.98 Equities portfolio 1 - Month (30 June July 2016) 1.04 Construction Month (31 January July 2016) 3.57 Finance Year (31 July July 2016) / 54 Industrial Product Year (31 July July 2016) / 54 Plantations Year (31 July July 2016) / 52 Trading & Services Year (31 July July 2016) / 39 REITs 6.68 Source : Lipper(G) - Equity Malaysia. Properties 0.04 Technology 1.92 High/Low NAV (RM) TOTAL High Low 6 - Month (31 January July 2016) Year (31 July July 2016) Top 10 Largest Holdings in Equity" 3 - Year (31 July July 2016) ) TENAGA NASIONAL BERHAD 5 - Year (31 July July 2016) ) MALAYAN BANKING BERHAD 10 - Year (31 July July 2016) ) PUBLIC BANK BERHAD Price as at 31 July 2016 RM ) SUNWAY REAL ESTATE INVESTMENT TRUST 5) BURSA MALAYSIA BERHAD Income Distribution Declared by Management Company 6) KLCC PROPERTY HOLDINGS BERHAD Net (sen per unit) Yield (%) 7) AXIATA GROUP BERHAD ) SIME DARBY BERHAD ) GENTING PLANTATIONS BERHAD ) TELEKOM MALAYSIA BERHAD 2014 Unit Split 1: " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. Based on the fund's portfolio returns as at 15 July 2016, the Volatility Factor (VF) for this fund is 7.5 and its Volatility Class (VC) is classified as "Moderate" (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The VC is assigned by Lipper based on quintile ranks of VF for qualified funds. The fund's portfolio may have changed 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. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The pri ce of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from pre-unit NAV /cum-distribution NAV to postunit split NAV/ex-distribution NAV.In the case of the unit split, the value of the investment in Malaysia ringgit will remain unchanged after the distribution of the additional units. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. ambcare@pnb.com.my Website: Page 1 of 2

2 Fund Review as at 31 July 2016 A-MYR (RETAIL) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. RATING 3- Year 5-Year Lipper Total Return 2 3 Lipper Consistent Return 2 3 Lipper Preservation Return 3 4 REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and c harges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from pre-unit NAV /cum-distribution NAV to post-unit split NAV/ex-distribution NAV. In the case of the unit split, the value of the investment in Malaysia ringgit will remain unchanged after the distribution of the additional units. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 2 of 2

3 Fund Factsheet 31 July 2016 A-JPY (RETAIL) (***UNHEDGED) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. Fund Inception : December 10, 2012 Financial Year : August 31 Unit In Circulation : 200 Unit NAV : JPY 10,325 Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.92% of NAV Benchmark Asset Allocation FUND DETAILS AS AT 31 JULY 2016 : FBM KLCI : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD Growth Total Return - Since Inception until 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Benchmark % of Since Inception ( 10 December July 2016) Equities portfolio YTD (1 January July 2016) Construction Month (30 June July 2016) Finance Month (31 January July 2016) Industrial Product Year (31 July July 2016) Plantations 8.76 Source : Lipper(G) - Equity Malaysia Trading & Services REITs 6.68 Properties 0.04 Technology 1.92 High/Low NAV (JPY) TOTAL High Low Since Inception (10 December July 2016) 14,626 9, Month (31 January July 2016) 11,402 9, Year (31 July July 2016) 13,069 9,745 Price as at 31 July 2016 JPY 10,325 Top 10 Largest Holdings in Equity" 1) TENAGA NASIONAL BERHAD Income Distribution Declared by Management Company 2) MALAYAN BANKING BERHAD Net (sen per unit) Yield (%) 3) PUBLIC BANK BERHAD 2014 NIL NIL 4) SUNWAY REAL ESTATE INVESTMENT TRUST Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. 5) BURSA MALAYSIA BERHAD 6) KLCC PROPERTY HOLDINGS BERHAD Exchange Rates JPY 100/ Ringgit -Middle Rate -BNM 7) AXIATA GROUP BERHAD 29-May Oct Mac ) SIME DARBY BERHAD 30-Jun Nov Apr ) GENTING PLANTATIONS BERHAD 31-Jul Dec May ) TELEKOM MALAYSIA BERHAD 31-Aug Jan Jun Sep Feb Jul " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes Source: *** -Exhange rate between RM & JPY are not hedged therefore movement of exchange rate will be reflected in the performance of the fund Based on the fund's portfolio returns as at 15 July 2016, the Volatility Factor (VF) for this fund is 14.9 and its Volatility Class (VC) is classified as "Very High" (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The VC is assigned by Lipper based on quintile ranks of VF for qualified funds. The fund's portfolio may have changed 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. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 1 of 2

4 Fund Review as at 31 July 2016 A-JPY (RETAIL) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. ** ( longterm - a period of more than 5 years) RATING 3- Year Lipper Total Return 2 Lipper Consistent Return 2 Lipper Preservation Return 2 REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to exdistribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 2 of 2

5 Fund Factsheet 31 July 2016 B-JPY (RETAIL) Standard Deviation (JPY) 15.43% 30/11/ /07/2016 (Annualized ) - Lipper (***UNHEDGED) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. FUND DETAILS AS AT 31 JULY 2016 Fund Inception : October 4, 2013 Financial Year : August 31 Unit In Circulation : 4,660 Unit NAV : JPY 8,423 Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.92% of NAV Benchmark Asset Allocation : FBM KLCI : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD Growth Total Return - Since Inception until 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Benchmark % of Since Inception ( 4 October July 2016) Equities portfolio YTD (1 January July 2016) Construction Month (30 June July 2016) Finance Month (31 January July 2016) Industrial Product Year (31 July July 2016) Plantations 8.76 Source : Lipper(G) - Equity Malaysia Trading & Services REITs 6.68 Properties 0.04 High/Low NAV (JPY) Technology 1.92 High Low TOTAL Since Inception (4 October July 2016) 11,944 7, Month (31 January July 2016) 9,301 7, Year (31 July July 2016) 10,661 7,950 Top 10 Largest Holdings in Equity" Price as at 31 July 2016 JPY 8,423 1) TENAGA NASIONAL BERHAD 2) MALAYAN BANKING BERHAD Income Distribution Declared by Management Company 3) PUBLIC BANK BERHAD Accumulation Units 4) SUNWAY REAL ESTATE INVESTMENT TRUST Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. 5) BURSA MALAYSIA BERHAD 6) KLCC PROPERTY HOLDINGS BERHAD Exchange Rates JPY 100/Ringgit-Middle Rate -BNM 7) AXIATA GROUP BERHAD 8) SIME DARBY BERHAD 31-Aug Dec Apr ) GENTING PLANTATIONS BERHAD 30-Sep Jan May ) TELEKOM MALAYSIA BERHAD 30-Oct Feb Jun Nov Mac Jul Source: ***- Exhange rate between RM & JPY are not hedged therefore movement of exchange rate will be reflected in the performance of the fund " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 1 of 2

6 Fund Review as at 31 July 2016 B-JPY (RETAIL) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a *long term investment horizon. REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 2 of 2

7 Fund Factsheet 31 July 2016 B-SGD (RETAIL) (***UNHEDGED) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. FUND DETAILS AS AT 31 JULY 2016 Fund Inception : January 31, 2013 Financial Year : August 31 Unit In Circulation : 75,000 Unit NAV : SGD Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.50% of NAV Benchmark Asset Allocation : FBM KLCI : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD Growth Total Return - Since Inception until 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Benchmark % of Since Inception ( 31 January July 2016) Equities portfolio YTD (1 January July 2016) Construction Month (30 June July 2016) Finance Month (31 January July 2016) Industrial Product Year (31 July July 2016) Plantations 8.76 Source : Lipper(G) - Equity Malaysia Trading & Services Singapore 1 Year Fixed Deposit Rate 2.47 REITs 6.68 Since Inception (31 January July 2016) Properties 0.04 Source : Lipper (Indicies) Technology 1.92 TOTAL High/Low NAV (SGD) High Low Since Inception (31 January July 2016) Month (31 January July 2016) Top 10 Largest Holdings in Equity" 1 - Year (31 July July 2016) ) TENAGA NASIONAL BERHAD Price as at 31 July 2016 SGD ) MALAYAN BANKING BERHAD 3) PUBLIC BANK BERHAD Income Distribution Declared by Management Company 4) SUNWAY REAL ESTATE INVESTMENT TRUST 2014 Accumulation Units 5) BURSA MALAYSIA BERHAD Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. 6) KLCC PROPERTY HOLDINGS BERHAD 7) AXIATA GROUP BERHAD Exchange Rates SGD/Ringgit -Middle Rate -BNM 8) SIME DARBY BERHAD 31-Aug Dec Apr ) GENTING PLANTATIONS BERHAD 30-Sep Jan May ) TELEKOM MALAYSIA BERHAD 30-Oct Feb Jun Nov Mac Jul Source: " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes *** -Exhange rate between RM & SGD are not hedged therefore movement of exchange rate will be reflected in the performance of the fund Based on the fund's portfolio returns as at 15 July 2016, the Volatility Factor (VF) for this fund is 13.0 and its Volatility Class (VC) is classified as "Very High" (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The VC is assigned by Lipper based on quintile ranks of VF for qualified funds. The fund's portfolio may have changed 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. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cumdistribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 1 of 2

8 Fund Review as at 31 July 2016 B-SGD (RETAIL) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. RATING 3- Year Lipper Total Return 1 Lipper Consistent Return 1 Lipper Preservation Return 3 REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 2 of 2

9 Fund Factsheet 31 July 2016 B-USD (RETAIL) Standard Deviation (USD) 15.63% 30/11/ /07/2016 (Annualized ) - Lipper (***UNHEDGED) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. FUND DETAILS AS AT 31 JULY 2016 Fund Inception : September 11, 2013 Financial Year : August 31 Unit In Circulation : 265,000 Unit NAV : USD Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.50% of NAV Benchmark Asset Allocation : FBM KLCI : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD Growth Total Return - Since Inception until 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Benchmark % of Since Inception ( 11 Sept July 2016) Equities portfolio YTD (1 January July 2016) Construction Month (30 June July 2016) Finance Month (31 January July 2016) Industrial Product Year (31 July July 2016) Plantations 8.76 Source : Lipper(G) - Equity Malaysia Trading & Services REITs 6.68 Properties 0.04 High/Low NAV (USD) Technology 1.92 High Low TOTAL Since Inception (11 Sept July 2016) Month (31 January July 2016) Year (31 July July 2016) Price as at 31 July 2016 USD Top 10 Largest Holdings in Equity" 1) TENAGA NASIONAL BERHAD Income Distribution Declared by Management Company 2) MALAYAN BANKING BERHAD Accumulation Units 3) PUBLIC BANK BERHAD Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. 4) SUNWAY REAL ESTATE INVESTMENT TRUST 5) BURSA MALAYSIA BERHAD Exchange Rates USD/Ringgit -Middle Rate -BNM 6) KLCC PROPERTY HOLDINGS BERHAD 7) AXIATA GROUP BERHAD 29-May Oct Mac ) SIME DARBY BERHAD 30-Jun Nov Apr ) GENTING PLANTATIONS BERHAD 31-Jul Dec May ) TELEKOM MALAYSIA BERHAD 31-Aug Jan Jun Sep Feb Jul Source: *** - Exhange rate between RM & USD are not hedged therefore movement of exchange rate will be reflected in the performance of the fund " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 1 of 2

10 Fund Review as at 31 July 2016 B-USD (RETAIL) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and c harges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum -distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the P rospectus. Page 2 of 2

11 Fund Factsheet 31 July 2016 C-MYR (INSTITUTIONAL) Standard Deviation (MYR) 7.67% 30/11/ /07/2016 (Annualized ) - Lipper (***UNHEDGED) The fund's objective is to provide investors with capital growth through investments into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. FUND DETAILS AS AT 31 JULY 2016 Fund Inception : September 11, 2013 Financial Year : August 31 Unit In Circulation : Million Unit NAV : RM Fund Category : Equity Fund Sales Charge : Up to 6.50% of NAV per unit (not inclusive of GST) Annual Management Fee : 1.30% of NAV Benchmark : FBM KLCI Asset Allocation : 70% - 98% in equities : 2% - 30% in cash or bonds (or a combination of both) INVESTMENT COMMITTEE MEMBERS Tun Ahmad Sarji bin Abdul Hamid (Chairman) Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin Tan Sri Dato' Md. Desa bin Pachi PERFORMANCE RECORD Growth Total Return - Since Inception until 31 July 2016 Asset Allocation as at 31 July 2016" 24% 76% Equities Cash & cash equivalent Source : Lipper(G) - Equity Malaysia. Cumulative Total Return Asset Allocation as at 31 July 2016" Fund (%) Benchmark % of Since Inception ( 11 Sept July 2016) Equities portfolio YTD (1 January July 2016) Construction Month (30 June July 2016) Finance Month (31 January July 2016) Industrial Product Year (31 July July 2016) Plantations 8.76 Source : Lipper(G) - Equity Malaysia Trading & Services REITs 6.68 Properties 0.04 High/Low NAV (MYR) Technology 1.92 High Low TOTAL Since Inception (11 Sept July 2016) Month (31 January July 2016) Top 10 Largest Holdings in Equity" 1 - Year (31 July July 2016) ) TENAGA NASIONAL BERHAD Price as at 31 July 2016 RM ) MALAYAN BANKING BERHAD 3) PUBLIC BANK BERHAD Income Distribution Declared by Management Company 4) SUNWAY REAL ESTATE INVESTMENT TRUST Net (sen per unit) Yield (%) 5) BURSA MALAYSIA BERHAD ) KLCC PROPERTY HOLDINGS BERHAD Source : Extracted from the annual report of AMBVTF which has been audited by our external auditor. 7) AXIATA GROUP BERHAD ) SIME DARBY BERHAD Source : Extracted from distribution of unit statement 9) GENTING PLANTATIONS BERHAD 10) TELEKOM MALAYSIA BERHAD " Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cumdistribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 1 of 2

12 Fund Review as at 31 July 2016 C-MYR (INSTITUTIONAL) into securities that are trading at a discount to their intrinsic values, while minimising the risk in the *medium to **long-term. The fund is suitable for investors who are willing to accept risk for returns presented by the equity and bond markets, want to capitalise on the value investment approach when investing in equity and bond markets and have a **long term investment horizon. REVIEW Market Review For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed marginally lower at 1,653 points. The broader market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM EMAS) rose by 0.5% to close at 11,585 points while SmallCaps were the outperformers for July with the FTSE Bursa Malaysia SmallCap Index (FBM SmallCap Index) rising 1.6% to 15,332 points. Among regional bourses, FBM KLCI was the second worst performer after the Shenzhen Stock Exchange Composite Index (SSE Composite Index)while Australia and Japan are outperformers. The Malaysian market was a laggard due to a pullback in crude oil price. For the month, the price of Brent crude oil declined 13% to United States Dollar (USD) 43 per barrel. Foreign investor sentiment on Malaysia was also dampened by the United States (US) Department of Justice announcement to recover more than USD1 billion in assets misappropriated from 1Malaysia Development Berhad (1MDB). Markets were relatively positive in July post the June volatility on expectations of more fiscal stimulus in Japan and a lower likelihood of an interest rate hike by the United States Federal Reserve (FED)in On the local corporate front, newsflow from the Pan Borneo Highway took centre stage - a joint venture between Bina Puri Holdings Berhad and Cahya Mata Sarawak Berhad were awarded a RM1.36 billion contract for the highway while another joint venture between KKB Engineering Berhad and WCT Holdings Berhad clinched a RM1.29 billion contract for Phase 1 works on the Sarawak stretch of the proposed highway. Meanwhile, loss-making TH Heavy Engineering Berhad received a letter of intent from the Malaysian Maritime Enforcement Agency to supply three offshore patrol boats. The domestic bond market got a boost when Bank Negara Malaysia (BNM) surprised markets by cutting its key interest rate by 25 basis points to 3.0%, its first cut in seven years citing uncertainties in the global environment could weigh on the country s growth prospects. The central bank is not expected to change its key interest rate over the next few meetings. Manager s Comments The fund outperformed the benchmark mainly due to stock selection. The fund s top performing holdings were Felda Global Venture Holdings Berhad, DKSH Holdings (Malaysia) Berhad, and Unisem (Malaysia) Berhad. Post British Exit (BREXIT), markets have generally moved up in anticipation of policy action. We are wary of the sustainability of the market strength in the short term as we believe that the negative implications from BREXIT have not been fully priced into the market. In the near term, sentiment on the local bourse could also be weighed down by weak oil prices. The fund would continue to employ a stock picking strategy to generate outperformance. The focus would be on undervalued companies to ride on selected investment themes including companies that provide good and services that have relatively resilient demand, beneficiaries of higher construction spending, and companies that offer attractive dividend yield. Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2015, and the Product Highlight Sheet (PHS) before investing. The Prospectus has been registered and lodged with the Securities Commission Malaysia. Among others, investor should consider the fees and charges involved. The price of units and distributions payable, if any, may go down as well as up. Past performances of the fund should not be taken as indicative of its future performance. Where a distribution is declared, investors are advised that following the distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV. Investments in the fund is exposed to equity risk, credit risk, interest rate risk, class currency risk and country risk. Units will only be issued on receipt of an application form referred to and accompanying the Prospectus which can be obtained at Amanah Mutual Berhad and any distribution channels as mentioned in the Prospectus. Page 2 of 2