30 November 2014

CIMB Islamic DALI Equity Growth Fund

A S S E T

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

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

FUND PERFORMANCE in MYR

INVESTMENT VOLATILITY

3-year
Fund Volatlity

8.04
Moderate

Lipper Analytcs

15 Nov 2014

FUND INFORMATION
Kuala Lumpur, Malaysia

Location

Malaysia

Domicile

Ringgit Malaysia

Fund Currency
Fund Size (MYR)

MYR 4.59 billion

Fund Unit

3.19 billion units

Fund Launch

5 July 1998

Fund Inception (MYR)

5 July 1998

Benchmark

FTSE Bursa Malaysia EMAS Shariah Index

Dealing

Daily (as per Bursa Malaysia trading day)

Application Fee

Up to 6.50% of NAV per unit

Management Fee

Up to 1.50% p.a. of the NAV

0.06% p.a. of the NAV

Trustee Fee

Cumulative Performance (%)

YTD 1 Month
Fund
Benchmark

0.12
-0.12

6 Months

-0.84
-1.39

-0.02
-0.76

-1.67
-2.32

1 Year 3 Years 5 Years

3.43
2.37

45.28
32.37

Since
Inception

90.34
54.77

505.40
203.74

Calendar Year Performance (%)

Fund
Benchmark

2013

2012

2011

2010

2009

2008

22.24
13.29

13.32
11.85

8.90
2.41

23.68
18.20

37.54
43.03

-32.16
-43.52

Most Recent Fund Distributions

MYR 1.4372

Unit NAV (MYR)

3 Months

Gross (Sen/Unit)
Yield (%)

2014
Jul

2013
Jul

2012
Jul

2011
Aug

2010
Mar

2008
Jun

7.25
4.76

8.25
5.62

5.62
4.44

7.08
5.61

4.50
4.69

7.00
5.83

Note: July 1998 to November 2014.

Performance data represents the combined income & capital return as a result of holding units in the fund for the
specified length of time, based on bid to bid prices. Earnings are assumed to be reinvested. Source: Lipper

CIMB-PRINCIPAL AWARDS AND ACCOLADES

Currency
MYR

ISIN Code

Bloomberg Ticker

MYU1000BB003

BHLPDAI MK

CIMB-Principal Asset Management Berhad

10th Floor, Bangunan CIMB, Jalan Semantan
Damansara Heights, 50490 Kuala Lumpur.
Tel: (603) 2084 8888
Fax: (603) 2084 8899
Website: www.cimb-principal.com.my

^Based on the fund's portfolio returns as at 15 November 2014, the Volatility Factor (VF) for this fund is 8.04 and is
classified as "Moderate" (source: Lipper). "Moderate" includes funds with VF that are above 7.860 but not more than
10.560. The VF means there is a possibility for the fund in generating an upside return or downside return around this
VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to
monthly revision and VC will be revised every six months. The fund's portfolio may have changed since this date and
there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched
in the market for at least 36 months will display the VF and its VC.
We recommend that you read and understand the contents of the Master Prospectus (Shariah-Compliant Funds) Issue
No. 7 dated 30 June 2014, which has been duly registered with the Securities Commission Malaysia, before investing
and that you keep the said Master Prospectus (Shariah-Compliant Funds) for your records. Any issue of units to which
the Master Prospectus (Shariah-Compliant Funds) relates will only be made upon receipt of the completed application
form referred to in and accompanying the Master Prospectus (Shariah-Compliant Funds), subject to the terms and
conditions therein. Investments in the Fund are exposed to stock specific risk. You can obtain a copy of the Master
Prospectus (Shariah-Compliant Funds) from the head office of CIMB-Principal Asset Management Berhad or from any
of our approved distributors.Product Highlight Sheet ("PHS") is available and that investors have the right to request
for a PHS; and the PHS and any other product disclosure document should be read and understood before making any
investment decision. There are fees and charges involved in investing in the funds. We suggest that you consider these
fees and charges carefully prior to making an investment. Unit prices and income distributions, if any, may fall or rise.
Past performance is not reflective of future performance and income distributions are not guaranteed. You are also
advised to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure
Statement/Unit Trust Loan Financing Risk Disclosure Statement before deciding to borrow to purchase units.

Page 1 of 2

30 November 2014

CIMB Islamic DALI Equity Growth Fund

A S S E T

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

FUND MANAGER'S REPORT

PORTFOLIO ANALYSIS

The Fund was down 1.67% for the month but

outperformed the benchmark by 0.65% due to the
outperformance of the Industrial and Basic Material
sectors and Cash.
At the stock level, the overweight in
Westport
and
underweight
in
Petronas
Chemicals
contributed.
On year-to-date ("YTD") basis, the Fund is
up 0.12% with an outperformance of 0.24%.

ASSET ALLOCATION
Shariah-compliant Equities (Local)

91.64%

Sukuk

0.02%

Cash

8.34%

100.00%

Total

The recent results season has been one of the worst in

recent memory where only 13% of stocks in CIMB
Securities coverage beat forecasts while 36% missed.
After the downgrades, earnings per share (EPS) growth
rates for 2015 and 2016 are at 9.2% and 9.1% with
corresponding price earnings ratio (PER) at 15.3 times
and 14.0 times. However, there is the risk of further
downgrades as the impact of lower crude oil prices on
the Oil & Gas sector is still unfolding. The introduction
of the Goods and Service Tax (GST) in April next year
will
crimp
domestic
consumption
providing
another
source of earnings downgrades.
Therefore, Bursa
Malaysia valuations continue to appear elevated.

SECTOR BREAKDOWN

We lower equity allocation from 85-95% to 80-90%.

We
continue
to
favour
defensive
dividend
stocks ;
beneficiaries of the weaker Ringgit exporters and
beneficiaries of government infrastructure projects.
In
terms of sectors, we are overweight the Technology,
Construction and Power sectors.

Trading / Services

47.30%

Industrials

11.11%

IPC

9.49%

Plantations

8.05%

Construction

6.94%

Finance

4.54%

Properties

1.57%

Consumer

1.44%

Technology

1.20%

Sukuk

0.02%

Cash

8.34%

100.00%

Total

RISK STATISTICS

TOP HOLDINGS

Beta

0.95

1 Tenaga Nasional Bhd

Malaysia

9.72%

Information Ratio

1.54

2 Digi.com Bhd

Malaysia

7.81%

Sharpe Ratio

1.17

3 Sime Darby Bhd

Malaysia

7.20%

4 Axiata Group Bhd

Malaysia

6.20%

5 Gamuda Bhd

Malaysia

4.59%

6 Telekom Malaysia Bhd

Malaysia

4.56%

7 Petronas Gas Bhd

Malaysia

4.20%

8 Westports Hldgs Bhd

Malaysia

3.25%

9 BIMB Hldg Bhd

Malaysia

3.20%

Malaysia

3.13%

3 years monthly data

10 IOI Corp Bhd

Total

53.86%

Page 2 of 2