Takafulink Funds Report Nurturing Fruitful Futures
|
|
- Janel Scott
- 5 years ago
- Views:
Transcription
1 Takafulink Funds Report 2009 Nurturing Fruitful Futures Takafulink Reports and Statements for the year ended 31 December 2009
2 Nurturing Fruitful Futures Choice, commitment and care are key ingredients to grow a portfolio that delivers what you want. With steadfast focus, Prudential BSN Takaful continues to nurture fruitful futures for our clients by providing you a right mix of Shariah-compliant investments and constantly upgrading our level of service to you. Together we plant the seed of a flourishing future that shelters and provides for your needs... when you need it the most. Contents 2 CEO s Message 4 Fund Objectives 5 Investment Review 7 Fund Performance 8 Investment Outlook
3 Dear Certificate Holders, We have pleasure in presenting to you the PruBSN Takaful Berhad Summary and CD Rom The CD-Rom can be found on the inside back cover of this summary. The full version of the Annual Report is also available on our website at 10 Financial Highlights 14 Statement of Assets and Liabilities 17 Statement of Changes in Net Asset Value 20 Statement of Income and Expenditure 26 Notes to the Accounts 28 Statement by Directors 29 Report of the Auditors Takafulink Funds Report
4 CEO s Message During 2009 we introduced Takaful Health, a first of its kind product in the takaful industry that provides a No Claim Bonus as well as comprehensive medical cover. We also embarked on a number of initiatives aimed at further improving customer service and enhancing our distribution capabilities. Dear Customer Assalamualaikum, It gives me great pleasure to bring to you our 2009 Takafulink Report which I hope you will find useful. As you know, 2009 proved to be an extraordinarily challenging year as the global financial crisis continued to unfold. The crisis did not spare the Malaysian economy as shown by the contraction in the country s GDP of 1.7% in In response to weakening private demand, Governments and Central Banks including ours at home adopted a number of fiscal stimulus measures and as a result most economies including Malaysia s turned the corner during the last quarter of the year so that the outlook is now cautiously optimistic. For our part, Prudential BSN Takaful successfully navigated through these difficult times and we are confident that we are well positioned to take advantage of the upswing in the economy. We also gave back to the community through our CSR programme, Segunung Harapan, in collaboration with Astro which aired on Oasis channel for about 10 weeks at the end of last year. Through this programme, communities were able to come together to create opportunities for others through self-help and collaboration. 2 Takafulink Funds Report 2009
5 Looking ahead to 2010, I believe we have the right strategies in place to serve you better with new products and new services in the pipeline. Combined with the dynamism and innovativeness that lie at the core of our identity, I believe that PruBSN will be able to consolidate our leading market position. Of course, none of this would have been possible without your support and trust in our business. So on behalf of all of the staff at PruBSN I would like to say a big Thank You to you, our customers. We look forward to serving you better in 2010 and beyond. Wishing you all the best for 2010! Azim Mithani CEO, Prudential BSN Takaful Berhad Takafulink Funds Report
6 Fund Objectives The Takafulink Dana Ekuiti Fund aims to maximise returns over medium to long term by investing in high quality Syariah-approved shares listed on the Kuala Lumpur Stock Exchange. The Takafulink Dana Bon fund aims to provide medium to long term accumulation of capital by investing in selected Islamic Private Debt Securities (IPDS) and Islamic Financing Facilities (IFF) The Takafulink Dana Urus fund seeks to maximise returns over medium to long term by investing in Shariah-approved shares and Islamic Private Debt Securities (IPDS) and Islamic Financing Facilities (IFF) through Takafulink Dana Ekuiti and Takafulink Dana Bon and in any other such Takafulink funds that may become available in the future. 4 Takafulink Funds Report 2009
7 Investment Review During the period under review, the FBM Emas Shariah rose 43%, underperforming the regional markets in general with the MxAPJ rising 67% for the same period. The local equity market started 2009 on a positive note as the market rallied on optimism over potential additional stimulus the US President would unveil following his inauguration. However, the momentum was not sustained as concerns over the pace of economic recovery emerged. On the domestic front, the BNM surprised the market with a larger-than-expected 75bps cut to OPR in January 2009, on the back of declining inflationary pressures in line with the global quantitative easing measures. A month later, BNM surprised the market yet again with an earlier-than-expected 50bps cut on OPR. This came amidst political uncertainty in the state government of Perak, lower-than-expected 4Q08 GDP of 0.1% and more consensus downgrades in earnings estimates for In response, the Malaysian government announced its Second Stimulus Package worth 60 billion ( ) to buffer the Malaysian economy from a deep recession, however, the local market was dragged down by the announcements of rights issue for two index heavy weights, TM International and Maybank which the market perceived as negative. Moving into 2Q09, newsflow globally and regionally turned positive with statements coming out of US on green shoots, indicating signs of recovery appearing. The local equity market benefited from the return in risk appetite and excess liquidity in the market. Positive newsflow was maintained leading up to Invest Malaysia 2009 Conference held on 30th June Policies liberalizing the services sector and certain aspects of the financial sector, boosted market sentiment. In 3Q09, the local share market started off in a consolidation phase as investors digested the announcements from Invest Malaysia 2009 which ended on 1st July 2009 and some investors rebalanced their portfolios to reflect the changes in KL Composite Index to FTSE Bursa Malaysia KL Composite Index. When the Chinese equity market saw a steep correction as investors were spooked by talks of monetary tightening, local investors took the opportunity to take some profit as new political issues resurfaced. However, market sentiment improved on the back of better-thanexpected corporate earnings reports and the better-than-expected slower contraction of 2Q09 GDP announced (-3.9% YoY, consensus: -5.3%). In 4Q09, the market saw investors buying stocks ahead of the 2010 Budget announcement which was on 23 October On the other hand, selected telecommunication stocks were under selling pressure as fund managers raised cash for the listing of Maxis Berhad. The fairly strong 3Q09 results season was a pleasant surprise as the number of companies that beat expectations outnumbered those that disappointed consensus. The average value traded on Bursa in November improved 7% mom to 1.38bn (1.29bn in Oct) per day, partly boosted by the listing of Malaysiaís and Asean s largest IPO in 2009 Maxis Berhad. Despite concerns about Dubai s solvency and rights issues announced by selected big-cap stocks, positive corporate newsflow and potential M&A announcements helped the FBMKLCI to close 2009 at Takafulink Funds Report
8 Investment Review (cont.) Bond Market Domestically, Consumer Price Index (CPI) rose to 1.1% yoy in December 2009 for the first time since last May. The lower CPI was helped by the easing in transport and food prices. On the other hand, the resume of inflation from the lowest -2.4% yoy in July and August 2009, indicating the higher base effect is gradually wearing off. The easing inflationary pressure has given Bank Negara Malaysia (BNM) rooms to implement an accommodative monetary policy to boost economic growth. The local bond market started off 2009 stronger with the 75bps OPR cut and moderating inflation. However, sovereign bond supply concerns, Fitch s placing of Malaysia s local-currency debt rating from stable to negative, and BNM s comment that the OPR cut has been frontloaded severely affected market sentiment, and despite the 50bps OPR cut in February and the revision to the MGS auction calendar, sovereign yields ended higher in the 1Q09. Supply concerns continue to plague the sovereign bond market in 2Q09, and coupled with lower expectations of rate cuts in near future as well as Fitch Ratingís downgrade of Malaysia s long-term local currency rating from A+ to A, sovereign yield were driven north in 2Q09. Sovereign bonds strengthened at the beginning of 3Q09 amidst BNM Governor s comment that more rate cuts cannot be ruled out. However, trading in sovereign bonds turned weak on the back of lower contraction of 2Q09 GDP reported and ahead of festive month of September MGS yield rose at the beginning of 4Q09 despite a smaller target deficit of 5.6% for 2010 GDP announced during the 2010 Budget in October The higher corporate bond issuances (Mostly AAA), sapped some interest from the sovereign bonds, also contributed to higher yield in MGS. Sovereign yields improved before profit taking activities emerged towards the end of the year, as supply concerns diminished post the 2010 Budget announcement. As a result, yields were traded higher for the period under review. The 3-, 5- and 10-year sovereign bond yields rose by 29bps, 83bps and 108bps and closed at 3.24%, 3.79% and 4.25% respectively. Corporate bond yields generally moved in tandem with sovereign bond yields, albeit at a lag. Activities in the corporate bond market was supported by improving risk appetite and dominated by selected names in the AAA and AA segments, leading to a tightening in credit spreads and therefore improved returns. 6 Takafulink Funds Report 2009
9 Fund Performance Takafulink Dana Ekuiti As at 31 December 2009, the Fundís Net Asset Value per unit appreciated by 36.13% to as compared to as at 31 December Since inception (1st December 2006), the Fund registered a positive return of 19.49%. Takafulink Dana Bon As at 31 December 2009, the Net Asset Value per unit of Takaful Dana Bon increased to from as at on 31 December 2008, recording a return of 5.01% for the period under review. Since inception (1st December 2006), the Fund registered a positive return of 11.34%. Takafulink Dana Urus As at 31 December 2009, the Net Asset Value per unit of the Takafulink Dana Urus was compared to as at 31 December 2008, recording a return of 29.17% for the period under review. Since inception (1st December 2006), the Fund registered a positive return of 18.26%. Takafulink Funds Report
10 Investment Outlook Equity Despite the scepticism felt at the beginning of 2009, the global economy seems to have turned the corner as evidenced by improving economic data points in the second half of Indeed the major economies of the US and the Eurozone have already begun to register positive annualised growth in the 3rd Quarter. Similarly many countries in the region have also returned to positive growth when measured on a year-on-year basis. While the global economy is on track to recover, the pace of recovery is likely to be slow and uneven, given that the global deleveraging is still ongoing, and countries around the globe continue to depend on government policy support for sustainable growth. The outlook for 2010 is looking more challenging with central banks and governments likely to unwind the loose monetary and fiscal policies in place for most of The risk of asset bubbles and their costly aftermath will ensure more obvious tightening measures will be implemented globally by mid Domestically, we expect the PM YAB Datuk Seri Najib Tun Razak to continue to introduce more liberalization policies, economic data released should be positive given the low base of 2009, and corporate earnings is likely to continue to strengthen. Some events or factors that may lend support to the local bourse include: Improving macro fundamentals. Positive government liberalisation policies announced. More consumer friendly policies announced. More M&As and corporate restructuring activities. More IPOs in the pipeline We continue to favour a bottom-up investment strategy moving forward, whereby tactical stock selection and asset allocation will drive fund outperformance. We will continue to look for companies with stability in earnings, demonstratable competitiveness in local or overseas markets, transparency and good corporate governance practice. 8 Takafulink Funds Report 2009
11 Bond Domestically, the slow pace of economic recovery, and upward trending but still manageable inflationary pressure, will give Bank Negara Malaysia (BNM) the leeway to continue its accommodative monetary policy stance to support the domestic economic recovery. Any rate hikes in 2010 is expected to be modest given the slow pace of economic recovery. In line with the government s policy to unwind its fiscal expansion from 7.4% of GDP in 2009 to forecasted 5.6% of GDP in 2010, BNM recently released the 2010 sovereign bonds auction calendar, with a smaller number of auctions compared to 2009 (19 against 28 in 2009). With this, supply concern for the sovereign bond market has somewhat diminished. Supply and activity of corporate bonds is expected to improve in 2010 as Issuers are expected to take advantage of the low interest rate environment and improving risk appetite of investors, to lock-in cheaper borrowing costs before any rate hikes. An environment of ample liquidity, low interest rates, and wide credit spreads, will continue to be supportive of the bond market. An economic recovery and improving financials will potentially shift risk appetites to lower investment grade bonds, leading to a tightening in credit spreads and therefore improved returns. We will continue to accumulate quality issues with stable cash flow and look for trading opportunities. Takafulink Funds Report
12 Financial Highlights For the financial year ended 31 December 2009 TAKAFULINK DANA EKUITI Category % % % Shariah Approved Shares Building Materials Conglomerates Construction Consumer Finance 0.28 Industrial Media Motor Oil & Gas Plantation Power Property Technology Telecommunications Timber 0.41 Transportation Water Cash and Deposits Other Assets (0.01) Total Liabilities (1.85) (0.46) (2.78) Total Takafulink Funds Report 2009
13 Financial Highlights For the financial year ended 31 December 2009 TAKAFULINK DANA EKUITI (cont.) Category % % % Total Net Asset Value () 93,892,359 39,816,472 22,179,240 Units in Circulation 78,577,690 45,362,268 16,330,676 NAV Per Unit () Highest NAV per unit () Lowest NAV per unit () Total Return - Capital Growth 36.13% % Average Annual Return Fund Period One year 36.13% Three years 5.53% Average Annual Return Benchmark: FTSE-Bursa Malaysia Emas Shariah Index (FBMSHA) Period One year 43.03% Three years 5.10% Takafulink Funds Report
14 Financial Highlights For the financial year ended 31 December 2009 TAKAFULINK DANA BON Category % % % Islamic Debts Securities Government Bonds Quasi Government Bonds Cash and Deposits Other Assets Total Liabilities (0.80) (0.59) (0.63) Total Total Net Asset Value () 18,742,204 15,528,062 11,704,512 Units in Circulation 16,817,282 14,645,091 11,238,402 NAV Per Unit () Highest NAV per unit () Lowest NAV per unit () Total Return - Capital Growth 5.01% 1.81% 4.15 Average Annual Return Fund Period One year 5.01% Three years 3.44% Average Annual Return Benchmark: MBB 1 month Tier 2 Islamic Deposit rate Period One year 2.13% Three years 2.65% 12 Takafulink Funds Report 2009
15 Financial Highlights For the financial year ended 31 December 2009 TAKAFULINK DANA URUS Category % % % Investment in- Takafulink Dana Ekuiti Takafulink Dana Bon Other Assets 0.00 Total Total Net Asset Value () 23,037,250 9,031,083 3,047,901 Units in Circulation 19,479,632 9,864,080 2,358,805 NAV Per Unit () Highest NAV per unit() Lowest NAV per unit() Total Return - Capital Growth 29.17% % Average Annual Return Fund Period One year 29.17% Three years 5.26% Average Annual Return Benchmark: 80% FBMSHA + 20% MBB 1 month Tier 2 Islamic Deposit rate Period One year 34.02% Three years 4.95% Takafulink Funds Report
16 Statement of Assets and Liabilities as at 31 December 2009 TAKAFULINK DANA EKUITI % % Investments Shariah Approved Shares 80,481, ,572, Cash and Deposits Cash at bank 2, , Deposits 14,440, ,460, Tax Assets 410, , Other Assets 288, , Total Assets 95,623, ,002, Provision for Deferred Tax (618,566) (0.66) (80,132) (0.20) Provision for Taxation (214,554) (0.23) (97,550) (0.24) Other Liabilities (898,130) (0.96) (8,097) (0.02) Total Liabilities (1,731,250) (1.85) (185,779) (0.46) Net Asset Value of the Fund 93,892, ,816, Participants Fund Capital 84,339, ,135, Generated Income/(Accumulated Losses) carried forward 9,553, (9,318,839) (23.40) 93,892, ,816, Net Asset Value Per Unit () Number of Units 78,577,690 45,362, Takafulink Funds Report 2009
17 Statement of Assets and Liabilities as at 31 December 2009 TAKAFULINK DANA BON % % Investments Islamic Debts Securitites 16,429, ,489, Cash and Deposits Cash at bank 2, , Deposits 2,320, ,930, Other Assets 123, , Total Assets 18,874, ,620, Provision for Taxation (145,032) (0.77) (90,546) (0.58) Provision for Deferred Tax (1,145) (0.01) (178) 0.00 Other Liabilities (4,255) (0.02) (1,568) (0.01) Total Liabilities (150,432) (0.80) (92,292) (0.59) Net Asset Value of the Fund 18,724, ,528, Participants Fund Capital 17,224, ,859, Generated Income carried forward 1,499, , ,724, ,528, Net Asset Value Per Unit () Number of Units 16,817,282 14,645,091 Takafulink Funds Report
18 Statement of Assets and Liabilities as at 31 December 2009 TAKAFULINK DANA URUS % % Investments in - Takafulink Dana Ekuiti 18,737, ,938, Takafulink Dana Bon 4,300, ,092, Cash At Bank Other Assets Total Assets 23,038, ,031, Other Liabilities (821) (0.00) (322) (0.00) Total Liabilities (821) (0.00) (322) (0.00) Net Asset Value of the Fund 23,037, ,031, Participants Fund Capital 20,908, ,616, Generated Income/(Accumulated Losses) carried forward 2,129, (1,585,002) (17.55) 23,037, ,031, Net Asset Value Per Unit () Number of Units 19,479,632 9,864, Takafulink Funds Report 2009
19 Statement of Changes in Net Asset Value for the financial year ended 31 December 2009 Takafulink Dana EkuiTi Net Asset Value at beginning of year 39,816,472 22,179,240 Amounts received from units created 76,953,647 45,768,389 Amounts paid for units cancelled (41,749,862) (15,819,364) Net Income/(Outgo) 18,872,102 (12,311,793) Value of fund at end of year 93,892,359 39,816,472 Takafulink Funds Report
20 Statement of Changes in Net Asset Value for the financial year ended 31 December 2009 TAKAFULINK DANA BON Net Asset Value at beginning of year 15,528,062 11,704,512 Amounts received from units created 9,140,169 5,519,762 Amounts paid for units cancelled (6,775,176) (1,962,448) Net Income 831, ,236 Value of fund at end of year 18,724,204 15,528, Takafulink Funds Report 2009
21 Statement of Changes in Net Asset Value for the financial year ended 31 December 2009 TAKAFULINK DANA URUS Net Asset Value at beginning of year 9,031,083 3,047,901 Amounts received from units created 20,013,016 12,505,129 Amounts paid for units cancelled (9,720,942) (4,733,391) Net Income/(Outgo) 3,714,093 (1,788,556) Value of fund at end of year 23,037,250 9,031,083 Takafulink Funds Report
22 Statement of Income & Expenditure For the financial year ended 31 December 2009 TAKAFULINK DANA EKUITI Net Investment Income 1,986,007 1,464,506 Profit Income 227, ,075 Dividend income 1,758,975 1,215,431 Profits on Disposal 3,319, ,439 Securities 3,319, ,439 Unrealised Capital Gain 17,959,422 Other Income ,940 Total Income 23,264,788 3,014, Takafulink Funds Report 2009
23 TAKAFULINK DANA EKUITI (cont.) Investment Management Fees (1,001,373) (453,357) Loss on Disposal (2,702,938) (8,508,726) Securities (2,702,938) (8,508,726) Unrealised Capital Loss (6,264,693) Provision for taxation (655,439) (68,814) Other Outgo (32,936) (31,088) Total Outgo (4,392,686) (15,326,678) Net Income/(Outgo) 18,872,102 (12,311,793) (Accumulated Losses)/Generated Income brought forward (9,318,839) 2,992,954 Amount Available for Distribution Generated Income/(Accumulated Losses) carried forward 9,553,263 (9,318,839) Takafulink Funds Report
24 Statement of Income & Expenditure For the financial year ended 31 December 2009 TAKAFULINK DANA BON Net Investment Income 681, ,736 Profit Income 681, ,736 Profits on Disposal 16,327 Securities 16,327 Others Unrealised Capital Gain 297,470 Other Income 17,851 Total Income 995, , Takafulink Funds Report 2009
25 TAKAFULINK DANA BON (cont.) Investment Management Fees (85,576) (66,838) Loss on Disposal (17,200) Securities (17,200) Unrealised Capital Loss (234,724) Provision for taxation (54,552) (48,165) Other Outgo (7,270) (6,624) Total Outgo (164,598) (356,351) Net Income 831, ,236 Generated Income brought forward 668, ,262 Amount Available for Distribution Generated Income carried forward 1,499, ,498 Takafulink Funds Report
26 Statement of Income & Expenditure For the financial year ended 31 December 2009 TAKAFULINK DANA URUS Net Investment Income 209,596 71,082 Fee Rebate 209,596 71,082 Profits on Disposal 444,625 13,629 Securities 444,625 13,629 Unrealised Capital Gain 3,469,082 Other Income 4,172 Total Income 4,123,303 88, Takafulink Funds Report 2009
27 TAKAFULINK DANA URUS (cont.) Investment Management Fees (206,276) (72,568) Loss on Disposal (202,756) (433,850) Securities (202,756) (433,850) Unrealised Capital Loss (1,371,021) Provision for taxation Other Outgo (178) Total Outgo (409,210) (1,877,439) Net Income/(Outgo) 3,714,093 (1,788,556) (Accumulated Losses)/Generated Income brought forward (1,585,002) 203,554 Amount Available for Distribution Generated Income/(Accumulated Losses) carried forward 2,129,091 (1,585,002) Takafulink Funds Report
28 Notes to the Accounts 1. Summary of Significant Accounting Policies a. Basis of Accounting The financial statements have been prepared in accordance with JPI/GPI 33 The Guidelines on Investment- Linked business and the requirements of the certificate document, modified by the following: (i) for the purpose of unit pricing, investments at market value are adjusted to include future cost of acquisitions. This is to ensure equitable unit pricing for incoming, outgoing and remaining unit-holders; and (ii) for the purpose of unit pricing, provision for deferred tax is recognized on taxable and deductible temporary differences using an actuarially calculated rate of 4% instead of the statutory rate of 8%. The Board of Directors are of the opinion that since these temporary differences will only be realized in the future, the lower tax rate of 4% has been used to ensure equitable unit pricing for incoming, outgoing and remaining unit-holders. b. Investments Quoted investments are valued at the closing market prices at the end of the financial year. Unquoted loan stock/bonds are valued at the prevailing prices quoted by financial institutions. Net unrealized gains or losses in value of investments are credited or charged to the capital account. c. Dividend Income Dividend income is recognized when the right to receive payment is established. d. Profit Income Profit income is recognized on an accrual basis. 26 Takafulink Funds Report 2009
29 e. Gains/Losses on Disposal of Investments Gains or losses arising from the disposal on investment are credited or charged to the capital account. f. Investment Management fees Investment management fees are calculated in accordance with the provisions of the certificate document. g. Fee Rebate This relates to rebate of fees from the Fund Manager in respect of investment held in Takafulink Dana Ekuiti and Takafulink Dana Bon for the Takafulink Dana Urus. h. Cash and cash equivalents Cash and cash equivalents consists of cash in hand and balances with banks, excluding Islamic deposits. 2. Other Outgo comprises bank charges and custodian charges. 3. At 31 December 2009, the Funds had no contingent liabilities or commitments. 4. All amounts are stated in Ringgit Malaysia. Takafulink Funds Report
30 Statement by Directors In the opinion of the Directors, the Takafulink Funds ( Funds ) financial statements set out on pages 14 to 27, comprising the statements of assets and liabilities as at 31 December 2009 and the related Statements of Income and Expenditure and Statements of Changes in Net Asset Value for the financial year ended 31 December 2009 together with the notes thereto, have been drawn up in accordance with JPI/GPI 33 The Guidelines on Investment-Linked Business issued by Bank Negara Malaysia and give true and fair view of the financial position of the Funds as at 31 December 2009 and their financial performance and the movements in the Statements of Changes in Net Assets attributable to the unitholders of the Funds for year ended on that date. Signed in accordance with a resolution of the Directors: Adinan bin Maning Charlie Espinola Oropeza Kuala Lumpur 31 March Takafulink Funds Report 2009
31 Report of the Auditors to the Unitholders of Takafulink Funds Report on the Financial Statements We have audited the financial statements of Takafulink Funds of Prudential BSN Takaful Berhad, which comprise the Statements of Assets and Liabilities as at 31 December 2009, and the related Statements of Income and Expenditure, Statements of Changes in Net Asset Value for the year then ended, and a summary of significant accounting policies and other explanatory notes, as set out on pages 14 to 27. Directors Responsibility for the Financial Statements The Directors of the Manager are responsible for the preparation and fair presentation of these financial statements in accordance with JPI/GPI 33 The Guidelines on Investment-Linked Business. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances. Auditors Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with approved standards on auditing in Malaysia. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on our judgment, including the assessment of risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, we consider internal control relevant to the Manager s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Manager s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Directors, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Takafulink Funds Report
32 Report of the Auditors to the Unitholders of Takafulink Funds (cont.) Opinion In our opinion, the financial statements have been properly drawn up in accordance with the accounting policies set out in Note 1 to the financial statements and JPI/GPI 33 The Guidelines on Investment-Linked Business so as to give a true and fair view of the financial position of the Funds as of 31 December 2009 and of their financial performance and changes in net assets attributable to the unitholders of the Funds for the year then ended in accordance with JPI/GPI 33. Emphasis of Matter Without qualifying our opinion, we wish to draw your attention to Note 1a to the financial statements. For the purposes of unit pricing, investments are adjusted to include future cost of acquisitions, and provision for deferred tax was calculated using a rate lower than the statutory tax rate. As explained in Note 1a, the Directors are of the opinion that the above would be fairer to the unitholders in the pricing of units. The potential effect of the above matter is not significant to the pricing of units in the respective Funds. Other Matters This report is made solely to the members of the Company, as a body, in accordance with Section 174 of the Companies Act, 1965 in Malaysia and for no other purpose. We do not assume responsibility to any other person for the content of this report. KPMG Chartered Accountants Petaling Jaya, Selangor 31 March Takafulink Funds Report 2009
Prudential BSN Takaful. For All. For Life.
At PruBSN, we power our business by two key virtues innovation and dynamism. This allows us to respond to your needs efficiently and effectively. It is reflected in the innovative first-to-market Takaful
More informationTAKAFULINK FUNDS REPORT 2013
TAKAFULINK FUNDS REPORT 2013 Takafulink Reports and Statements for the year ended 31 December 2013 Contents 2 CEO s Message 4 Fund Objectives 5 Investment Review 9 Fund Performance 10 Investment Outlook
More informationunit funds Annual Report
unit funds Annual Report For The Period 1 January 2012 To 31 December 2012 Centennial Max Fund Dana Gemilang Dana Restu Dana Sejati Lion Asia Pac Fund Lion AU-i Fund Lion Balanced Fund Lion Enhanced Equity
More informationUNIT FUNDS ANNUAL REPORT
1 GREAT EASTERN LIFE ASSURANCE (MALAYSIA) BERHAD UNIT FUNDS ANNUAL REPORT 2013 UNIT FUNDS ANNUAL REPORT For The Period 1 January 2013 to 31 December 2013 Centennial Max Fund Lion AU-i Fund Lion Progressive
More informationZurich Life Insurance Malaysia Berhad. Investment-Linked Funds Annual Report 2017
Zurich Life Insurance Malaysia Berhad Investment-Linked Funds Annual Report 2017 CONTENTS PAGES FUND OBJECTIVE AND FUND PERFORMANCE 3 29 DETAILS OF INVESTMENTS EQUITY/UNIT ALLOCATION 30 57 BOND ALLOCATION
More informationTAKAFULINK DANA URUS FUND PROFILE 2016
TAKAFULINK DANA URUS FUND PROFILE 2016 TAKAFUL & US Takaful is a mutual assistance concept based on the principles of shared responsibility, cooperation and common interest. Each covered participant contributes
More informationMAA TAKAFUL BERHAD. Company No H
(Shariah Balanced Fund, Shariah Income Fund, Shariah Growth Fund, Shariah Flexi Fund and Takafulink Structured Invest Fund) FINANCIAL STATEMENTS 31 DECEMBER 2012 MAA TAKAFUL INVESTMENT-LINKED FUNDS, CONSISTING
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name Public Growth Balanced Fund () Fund Category Balanced Fund Investment Objective To achieve capital growth over the medium to long-term period through a balanced asset allocation
More informationBreakdown of Unitholdings of PGF as at 31 January 2018
Fund Information Fund Name Public Growth Fund () Fund Category Equity Fund Investment Objective To achieve long-term capital appreciation with income considered incidental. Fund Performance Benchmark The
More informationPublic Select Mixed Asset Growth Fund (PSMAGF) Breakdown of Unitholdings of PSMAGF as at 30 April 2018
Fund Information Fund Name (PSMAGF) Fund Category Mixed Asset Fund Investment Objective To achieve capital growth over the medium to long-term period primarily through a portfolio allocation across equities
More informationInvestment Linked Fund Performance Report May 2017
Investment Linked Report May 2017 General Advice Warning The information contained in this material is general information and intended for the use of professional advisers, researchers and trustees. It
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PBFI) Fund Category Bond Fund Investment Objective To provide a steady stream of annual income through its investment in private debt securities (bonds) and money market instruments.
More informationPublic Islamic Asia Tactical Allocation Fund (PIATAF) Breakdown of Unitholdings of PIATAF as at 30 April 2018
Fund Information Fund Name Public Islamic Asia Tactical Allocation Fund () Fund Category Mixed Asset (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term
More informationPublic Islamic Asia Leaders Equity Fund (PIALEF)
Fund Information Fund Name (PIALEF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long term period by investing mainly in stocks of companies
More informationNotes: Loaded units are units which have incurred a sales charge of 3% or more. 1%-load units are units which have incurred a sales charge of 1.0%.
Fund Information Fund Name (PEBF) Fund Category Bond Fund Investment Objective Seeks provide a combination of annual income and modest capital growth primarily through a portfolio allocation across quality
More informationTAKAFUL IKHLAS GROWTH FUND AUGUST 2014
Dec-11 Jan-12 Feb-12 Mar- Apr-12 May- Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar- Apr-13 May- Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar- Apr-14 May- Jun-14
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PISGIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To seek capital growth and income by investing in a portfolio of Shariahcompliant growth and dividend
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name PB Indonesia Balanced Fund () Fund Category Balanced Fund Investment Objective To achieve income and capital growth over the medium long term period by investing in a portfolio
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PAIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long term period by investing in a portfolio of investments
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name Public Islamic Treasures Growth Fund () Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium long-term period by investing
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PCIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a portfolio of Shariah-compliant
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name PB Asia Pacific Dividend Fund () Fund Category Equity Fund Investment Objective To provide income by investing in a portfolio of stocks in domestic and regional markets which
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PRSEC) Fund Category Equity Fund Investment Objective To seek long-term capital appreciation by investing in selected market sectors. Fund Performance Benchmark The benchmarks
More informationBreakdown of Unitholdings of PGF as at 31 July 2018
Fund Information Fund Name (PGF) Fund Category Equity Fund Investment Objective To achieve long-term capital appreciation with income considered incidental. Fund Performance Benchmark The benchmark of
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name Public Select Treasures Equity Fund () Fund Category Equity Fund Investment Objective To achieve capital growth over the medium long-term period by investing in a portfolio of
More informationMonthly Outlook. June Summary
Monthly Outlook June 2015 Summary Yields of US Treasuries (USTs) rallied in May, with the 2-year and 10-year yields up 4 and 9 basis points (bps) respectively as compared to end-april levels. During the
More informationFund Performance Average Total Return for the Following Years Ended 28 February 2018
Fund Information Fund Name PB Asia Emerging Growth Fund () Fund Category Equity Fund Investment Objective To achieve capital growth over the medium to long-term period by primarily investing in the securities
More informationPrudential International Investments Advisers, LLC. Global Investment Strategy May 2008
Prudential International Investments Advisers, LLC. Global Investment Strategy May 2008 By John Praveen, Chief Investment Strategist For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy. Foreign Exchange Rate
Fund Information Fund Name (PDSF) Fund Category Equity Fund Investment Objective To provide steady recurring income by investing in a portfolio of stocks which offer or have the potential to offer attractive
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy. Foreign Exchange Rate
Fund Information Fund Name (PCIF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a portfolio of Shariah-compliant
More informationBreakdown of Unitholdings of PBSCGF as at 31 March 2018
Fund Information Fund Name PB SmallCap Growth Fund () Fund Category Equity Fund Investment Objective To achieve capital growth over the medium long term period through investments in companies with small
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PIOEF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a diversified portfolio
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PIEMOF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth through investments in Shariah-compliant companies with mid and small market
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PIDF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To provide income by investing in a portfolio of stocks that complies with Shariah requirements and
More informationFinancial Market Outlook: Stocks Rebounding from July Correction, Further Gains Likely. Bond Yields Range Bound
For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com Financial Market Outlook & Strategy: Stocks Rebounding from July Correction, Further Gains Likely. Bond
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name Public Asia Ittikal Fund () Fund Category Equity (Shariah-compliant) Fund Investment Objective To achieve capital growth over the medium to long term period by investing in a
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PIADF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To provide income by investing in a portfolio of stocks in domestic and regional markets that complies
More informationTAKAFULINK DANA EKUITI DINASTI FUND PROFILE 2016
TAKAFULINK DANA EKUITI DINASTI FUND PROFILE 2016 TAKAFUL & US Takaful is a mutual assistance concept based on the principles of shared responsibility, cooperation and common interest. Each covered participant
More informationMANAGER S REPORT 30 September 2018 Performance Review From 7 May 1998 (date of launch: 16 April 1998) to 30 September 2018, the Pacific Dana Aman registered a total return of 409.74%, while its composite
More informationTAKAFULINK DANA BON FUND PROFILE 2016
TAKAFULINK DANA BON FUND PROFILE 2016 TAKAFUL & US Takaful is a mutual assistance concept based on the principles of shared responsibility, cooperation and common interest. Each covered participant contributes
More informationTAkAFUlINk FUNDS REPORT Takafulink Reports and Statements for the year ended 31 December 2016
For All For Life TAkAFUlINk FUNDS REPORT 2016 Takafulink Reports and Statements for the year ended 31 December 2016 Contents 2 CEO s Message 5 Fund Objectives 6 Investment Review 12 Fund Performance 13
More informationBreakdown of Unitholdings of PIX as at 31 January 2018
Fund Information Fund Name (PIX) Fund Category Equity Fund Investment Objective To achieve long-term capital appreciation while at the same time attempting to outperform the FTSE Bursa Malaysia Top 100
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PINDGF) Fund Category Equity Fund Investment Objective To achieve a high level of capital appreciation over the medium to long term period through investments in growth industries.
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PRS-GRF) Fund Category Core (Growth) Fund Investment Objective The Fund seeks long-term capital growth and to a lesser extent income. Fund Performance Benchmark The benchmarks
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PeFAF) Fund Category Mixed Asset Fund Investment Objective To achieve capital growth over the medium to long-term period through a portfolio allocation across equities and fixed
More informationAmMetLife Takaful Equity Fund
AmMetLife Takaful Equity Fund April Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital
More informationAmMetLife Takaful Equity Fund - NAV
AmMetLife Takaful Equity Fund October Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital
More informationAMANAH SAHAM BANK SIMPANAN NASIONAL
CONTENTS... PAGE MANAGER S REPORT... 2 1. FUND INFOATION... 2 2. FUND PERFOANCE... 3 3. MANAGER S REPORT... 6 4. STATEMENT BY MANAGER...12 5. TRUSTEE S REPORT...13 6. INDEPENDENT AUDITOR S REPORT TO THE
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PRSF) Fund Category Equity Fund Investment Objective To achieve consistent capital growth over the medium long term period and achieve a steady growth in income. Fund Performance
More informationAmMetLife Takaful Equity Fund
AmMetLife Takaful Equity Fund February Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital
More information100.00% 80.00% 60.00% 40.00% 20.00% 0.00% Nov-11. May-12. Feb %
Nov-11 Feb-12 May-12 Aug-12 Nov-12 Feb-13 May-13 Aug-13 Nov-13 Feb-14 May-14 Aug-14 Nov-14 Feb-15 May-15 Aug-15 Nov-15 Feb-16 May-16 Aug-16 Nov-16 Feb-17 May-17 TAKAFUL IKHLAS GROWTH FUND JULY 2017 FUND
More informationAmMetLife Takaful Equity Fund - NAV
AmMetLife Takaful Equity Fund June Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital growth,
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PBIBF) Fund Category Sukuk Fund Investment Objective To provide annual income to investors through investment in Islamic debt securities. Fund Performance Benchmark The benchmark
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PBASF) Fund Category Sukuk Fund Investment Objective To provide annual income to investors through investments in sukuk and Islamic money market instruments. Fund Performance
More informationGrowth & Income Fund Smart Investment Choice for Constant Capital Growth Fund Factsheet 31 January 2017
Smart Investment Choice for Constant Capital Growth Fund Factsheet 31 January 2017 The fund's objective is to provide a balance between income and *long-term capital appreciation. INVESTOR PROFILE The
More informationAmMetLife Takaful Equity Fund - NAV
AmMetLife Takaful Equity Fund Aug Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital growth,
More informationEconomic activity gathers pace
Produced by the Economic Research Unit October 2014 A quarterly analysis of trends in the Irish economy Economic activity gathers pace Positive data flow Recovery broadening out GDP growth revised up to
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name (PIDF) Fund Category Equity (Shariah-compliant) Fund Investment Objective To provide income by investing in a portfolio of stocks that complies with Shariah requirements and
More informationMalaysia Bond Flows Update
Malaysia Bond Flows Update Foreign net selloff lower in August, foreign buying to increase on improving fundamentals Economics Kenanga Investment Bank Berhad T: 603-2172 0880 OVERVIEW Foreign selloff moderated.
More informationHONG LEONG MSIG TAKAFUL BERHAD (formerly known as Hong Leong Tokio Marine Takaful Berhad) (Incorporated in Malaysia)
INVESTMENT-LINKED FUNDS FUND PERFORMANCE REPORT for the financial year ended 30 June 2011 CONTENTS PAGE Appointed Representative s Message 1 Fund Objectives 2 Investment Review HLMT i-balanced Fund 3 HLMT
More informationSHARIAH PRS-GROWTH FUND
CONTENTS PAGE 1 General Information 1 2 PRS Provider s Report 3 3 Policy On Stockbroking Rebates And Soft Commissions 11 4 Statement By The PRS Provider 12 5 Scheme Trustee s Report 13 6 Shariah Adviser
More informationFinancial Market Outlook: Further Stock Gain on Faster GDP Rebound and Earnings Recovery. Year-end Target Raised
For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com Financial Market Outlook & Strategy: FurtherStock Gains Likely, Year-end Target Raised. Bond Under Pressure
More informationPHEIM Annual Report
31 DECEMBER 2017 PHEIM Annual Report 31.12.2017 TRUST DIRECTORY MANAGER Pheim Unit Trusts Berhad (545919-A) Registered Office and Head Office: 7th Floor, Menara Hap Seng (Letter Box 12) Jalan P. Ramlee,
More informationPrudential International Investments Advisers, LLC. Global Investment Strategy June 2009
Prudential International Investments Advisers, LLC. Global Investment Strategy June 2009 By John Praveen, Chief Investment Strategist For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com
More informationCompany No H MAA TAKAFUL BERHAD
MAA TAKAFUL INVESTMENT - LINKED FUNDS (MAA Takaful Shariah Balanced Fund, MAA Takaful Shariah Income Fund, MAA Takaful Shariah Growth Fund, MAA Takaful Shariah Flexi Fund, MAA Shariah Balanced Fund 2,
More informationStructured Income Fund VIII
Affin Hwang Structured Income Fund VIII Quarterly Report 31 July 2016 MANAGER Affin Hwang Asset Management Berhad (429786-T) TRUSTEE Maybank Trustees Berhad (5004-P) AFFIN HWANG STRUCTURED INCOME FUND
More informationFund Fact Sheets. 1. myequity INDEX FUND 2. mygrowth FUND 3. myblue CHIPS FUND 4. mydividend FUND 5. mybalanced FUND 6. ITTIZAN 7.
Fund Fact Sheets This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant funds and all other important information that you will need to know regarding
More information100.00% 90.00% 80.00% 70.00% 60.00% 50.00% 40.00% 30.00% 20.00% 10.00% 0.00% Mar-12. Jun-12. Apr-12. Dec-11. Jan-12. May-12.
Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12 Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-14 Feb-14 Mar-14 Apr-14
More informationCIMB ISLAMIC MONEY MARKET FUND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2017
FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2017 CONTENTS PAGE(S) INVESTORS LETTER 1-2 MANAGER S REPORT 3-9 Fund Objective and Policy Performance Data Market Review Fund Performance Portfolio
More informationInvestment Report With Profits Fund
Investment Report 2011 With Profits Fund With Profits Fund Investment Report 2011 The information in this report should not be considered as investment advice and we recommend that you speak to a suitably
More informationInvestment Report The Flexible Guarantee Bond and Flexi Guarantee Plan
Investment Report 2011 The Flexible Guarantee Bond and Flexi Guarantee Plan The Flexible Guarantee Bond and Flexi Guarantee Plan Investment Report 2011 This information does not constitute investment advice
More informationPB Islamic Cash Management Fund (PBICMF) Breakdown of Unitholdings of PBICMF as at 30 June 2018
Fund Information Fund Name (PBICMF) Fund Category Islamic Money Market Fund Investment Objective To provide liquidity and current income, while maintaining capital stability by investing in instruments
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy
Fund Information Fund Name Public China Access Equity Fund (PCASEF) Fund Category Equity Fund Investment Objective To achieve capital growth over the medium to long-term period by investing in a portfolio
More informationSYARIKAT TAKAFUL MALAYSIA BERHAD
1 Basis of Preparation The unaudited interim financial statements have been prepared in accordance with MFRS 134: Interim Financial Reporting issued by the Malaysian Accounting Standards Board ( MASB ),
More informationFIDELITY ADVANTAGE PORTFOLIO FUND. Annual Report and Accounts
FIDELITY ADVANTAGE PORTFOLIO FUND Annual Report and Accounts December 2006 Fidelity Advantage Portfolio Fund Reports and Financial Statements Year ended 31st December 2006 Contents Pages Management and
More informationAmMetLife Takaful Equity Fund
AmMetLife Takaful Equity Fund September Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital
More informationREPORT PACIFIC ISLAMIC CASH FUND QUARTERLY. For The Financial Period From 1 January 2018 To 30 June
REPORT QUARTERLY For The Financial Period From 1 January 2018 To 30 June 2018 PACIFIC ISLAMIC CASH FUND www.pacificmutual.com.my PACIFIC MUTUAL FUND BHD (336059-U) A member of the OCBC Group CONTENTS Fund
More informationBSN DANA AL JADID CONTENTS... PAGE
CONTENTS... PAGE MANAGER S REPORT... 2 1. FUND INFORMATION... 2 2. FUND PERFORMANCE... 3 3. MANAGER S REPORT... 6 4. STATEMENT BY MANAGER... 12 5. TRUSTEE S REPORT... 13 6. SHARIAH ADVISER S REPORT...
More informationAmMetLife Takaful Equity Fund
AmMetLife Takaful Equity Fund June Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital growth,
More informationFund Fact Sheets. 1. myequity INDEX FUND 2. mygrowth FUND 3. myblue CHIPS FUND 4. mydividend FUND 5. mybalanced FUND 6. ITTIZAN 7.
Fund Fact Sheets This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant funds and all other important information that you will need to know regarding
More informationMalaysia Update. Yield Movements. Size and Composition
Malaysia Update Yield Movements The Malaysian government has been pursuing an expansive fiscal policy since the beginning of the year. On 10 March it announced an MYR60 billion stimulus package, generating
More informationBSN DANA DIVIDEN AL IFRAH CONTENTS... PAGE
CONTENTS... PAGE MANAGER S REPORT... 2 1. FUND INFORMATION... 2 2. FUND PERFORMANCE... 3 3. MANAGER S REPORT... 6 4. STATEMENT BY MANAGER... 12 5. TRUSTEE S REPORT... 13 6. SHARIAH ADVISER S REPORT...
More informationAmM e t L i f e Ta k a f u l E q u i t y Fund
AmM e t L i f e Ta k a f u l E q u i t y Fund May Launch Date 19 th March 2012 Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund
More informationFinancial Market Outlook: Stock Rally Continues with Faster & Stronger GDP Rebound, Earnings Recovery & Liquidity
For Market Commentary Interviews Contact: Lisa Villareal, 973-367-2503/lisa.villareal@prudential.com Financial Market Outlook & Strategy: Further Stock Gains with Macro Sweet Spot & Earnings Recovery.
More informationFund Fact Sheets. 1. myequity INDEX FUND 2. mygrowth FUND 3. myblue CHIPS FUND 4. mydividend FUND 5. mybalanced FUND 6. ITTIZAN 7.
Fund Fact Sheets This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant funds and all other important information that you will need to know regarding
More informationCIMB-PRINCIPAL BALANCED FUND FINANCIAL STATEMENTS
FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2017 CONTENTS PAGE(S) INVESTORS LETTER 1 MANAGER S REPORT 2-8 Fund Objective and Policy Performance Data Market Review Fund Performance Portfolio
More informationMARKET REPORT AND STRATEGY
MARKET OUTLOOK AND STRATEGY MAY 2009 Market Review The KLCI ended May 53 points or 5.4% higher to close at 1,044 points. Although the announcement of 1Q09 GDP on May 27 was indeed weak at 6.2%, nearly
More informationMARKET REVIEW & OUTLOOK February 2018
MARKET REVIEW & OUTLOOK February 2018 1.0 Fixed Income Economics During the month, Malaysia s 4Q2017 GDP was released. Real Gross Domestic Product ( GDP ) grew 5.9% YoY, slightly slower than the 6.2% recorded
More informationBSN DANA SHARIAH MONEY MARKET CONTENTS... PAGE
CONTENTS... PAGE MANAGER S REPORT... 2 1. FUND INFOATION... 2 2. FUND PERFOANCE... 3 3. MANAGER S REPORT... 6 4. STATEMENT BY MANAGER... 10 5. TRUSTEE S REPORT... 11 6. SHARIAH ADVISER S REPORT... 12 7.
More informationFund Information. Fund Name. Fund Category. Fund Investment Objective. Fund Performance Benchmark. Fund Distribution Policy. Foreign Exchange Rate
Fund Information Fund Name (PBAREIF) Fund Category Balanced Fund Investment Objective Seeks to achieve capital growth and income over the medium to long term period by investing in companies that are principally
More informationMonthly Fund Fact Sheet January 2015
AmMetLife Ta k a f u l E q u i t y Fund Moderate to High FTSE Bursa Malaysia Hijrah Shariah Index (a) Equity - Max 95% (b) Cash or cash equivalent Min 5% The Fund aims to provide the Customer with capital
More informationFOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010
FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 31 DECEMBER 2010 CONTENTS PAGE(S) INVESTOR LETTER 1-2 MANAGER'S REPORTS 3-8 Fund objective and policy Fund asset allocation Fund performance Income distribution
More informationAIA Investment Linked Funds
Investment Linked Funds Performance Report As at 30 ember aia.com.my CONTENTS CONTENTS (cont d) Message From CEO And CIO Local Bond Local Bond Market Commentary Fixed Income Fund Dana Bon Local Stock Local
More informationEASTSPRING INVESTMENTS ASIAN HIGH YIELD BOND MY FUND QUARTERLY REPORT
EASTSPRING INVESTMENTS ASIAN HIGH YIELD BOND MY FUND QUARTERLY REPORT FOR THE FINANCIAL PERIOD FROM 1 APRIL TO 30 JUNE Dear Valued Investor, Greetings from Eastspring Investments Berhad! First and foremost,
More informationFRANKLIN MALAYSIA SUKUK FUND
Audited Annual Report 30 September 2018 FRANKLIN MALAYSIA SUKUK FUND AUDITED INTERIM REPORT FOR THE FINANCIAL PERIOD FROM 1 OCTOBER 2017 TO 30 SEPTEMBER 2018 I. GENERAL INFORMATION ABOUT THE FUND II. MANAGER
More informationAMB DANA NABEEL Annual Report For the financial year ended 30 June 2018
Level 34, Menara PNB 201-A Jalan Tun Razak 50400 Kuala Lumpur, Malaysia Tel: 603-2034 0800 Fax: 603-2163 3212 / 2162 5958 www.ambmutual.com.my AMB DANA NABEEL Annual Report For the financial year ended
More informationCIMB ISLAMIC DALI EQUITY THEME FUND FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2018
FINANCIAL STATEMENTS FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2018 CONTENTS PAGE(S) INVESTORS' LETTER 1 MANAGER'S REPORT 2-10 Fund Objective and Policy Performance Data Market Review Fund Performance Portfolio
More informationSelect Bond Fund. Annual Report 31 March MANAGER Affin Hwang Asset Management Berhad ( T) TRUSTEE HSBC (Malaysia) Trustee Berhad (1281-T)
Affin Hwang Select Bond Fund Annual Report 31 March 2016 MANAGER Affin Hwang Asset Management Berhad (429786-T) TRUSTEE HSBC (Malaysia) Trustee Berhad (1281-T) AFFIN HWANG SELECT BOND FUND Annual Report
More informationIndustrial and Commercial Bank of China (Malaysia) Berhad (Company No M) (Incorporated in Malaysia)
Industrial and Commercial Bank of China (Malaysia) Berhad (Company No. 839839 M) (Incorporated in Malaysia) UNAUDITED CONDENSED INTERIM FINANCIAL STATEMENTS 30 SEPTEMBER 2014 Industrial and Commercial
More informationPRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook
PRUDENTIAL INTERNATIONAL INVESTMENTS ADVISERS, LLC. Global Investment Outlook September 2013 Financial Market Outlook: Stocks likely to Remain in Modest Uptrend with Low Rates & Plentiful Liquidity, Improving
More information