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A-MYR (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

January 7, 2003
August 31
1,299.93 Million
RM 0.3167
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.50% of NAV
FBM KLCI
70% - 98% in equities

Tan Sri Abdul Wahid Omar (Chairman)


Tan Sri Dato' Dr. Wan Mohd. Zahid bin Mohd. Noordin
Tan Sri Dato' Md. Desa bin Pachi

: 2% - 30% in cash or bonds (or a combination of both)

PERFORMANCE RECORD
3 Years Growth Total Return from 30 September 2013 to 30 September 2016

Asset Allocation as at 30 September 2016"

20%
80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

YTD (1 January 2016 - 30 September 2016)


1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
3 - Year (30 September 2013 - 30 September 2016)
5 - Year (30 September 2011 - 30 September 2016)
10 - Year (30 September 2006 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia.

Fund (%)
3.92
-0.31
1.82
7.77
1.46
38.12
244.51

Rank

High
0.3687
0.3687
0.5401
0.6027
0.9904

Low
0.3151
0.3151
0.3151
0.3151
0.3151

18
35
30
3

High/Low NAV (RM)


6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
3 - Year (30 September 2013 - 30 September 2016)
5 - Year (30 September 2011 - 30 September 2016)
10 - Year (30 September 2006 - 30 September 2016)
Price as at 30 September 2016
RM 0.3167
Income Distribution Declared by Management Company
Net (sen per unit)
2011
9.92
2012
9.90
2013
6.96
2014
Unit Split 1:6
2015
5.00
2016
5.00
Source : Lipper

Yield (%)
17.82
19.26
13.97
10.99
14.95

/
/
/
/

54
54
52
39

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) BURSA MALAYSIA BERHAD
7) KLCC PROPERTY HOLDINGS BERHAD
8) MALAYAN BANKING BERHAD
9) GENTING PLANTATIONS BERHAD
10) MALAYSIA AIRPORTS HOLDINGS BERHAD
" Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes

Based on the fund's portfolio returns as at 15 September 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 2016, 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 specific
risk, credit and default risk, interest rate risk, 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
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

A-MYR (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

RATING

Lipper Total Return


Lipper Consistent Return
Lipper Preservation Return

3- Year
2
2
3

5-Year
2
2
4

REVIEW

Market Review
For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa Malaysia
SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the outperformers while
Japan, China, and Thailand were laggards.
September 2016 was a volatile month for FBM KLCI initially rebounded post the United States (US) Federal Reserves decision to leave rate unchanged
following their September meeting. However, the positive sentiment was overturned by negative developments on the financial health of Deutsche
Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for RM1.1 billion to
Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger Service Charge (PSC) rate
structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that the rate is
consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.

Managers Comments
The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped to cushion
the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven Malaysia Holdings
Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US interest rate hike
by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would employ a stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default
risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2

A-JPY (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

(***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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

December 10, 2012


August 31
200
JPY 9,976
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.92% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%

80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

Since Inception (10 December 2012 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia

Fund (%)
-0.24
-9.30
-3.51
-11.30
-3.17

Benchmark
-7.88
-14.67
-5.45
-18.22
-8.38

High/Low NAV (JPY)


Since Inception (10 December 2012 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 30 September 2016
JPY 9,976
Income Distribution Declared by Management Company
Net (sen per unit)
2014
NIL
Source : Lipper
Exchange Rates JPY 100/ Ringgit -Middle Rate -BNM
31-Jul-15
32.4623
31-Dec-15
28.0545
31-Aug-15
28.7008
29-Jan-16
29.0078
30-Sep-15
26.9655
29-Feb-16
26.8622
30-Oct-15
28.0750
31-Mac-16
28.6601
30-Nov-15
28.8009
29-Apr-16
27.4901

Low
9,745
9,745
9,745

High
14,626
11,402
11,431

Yield (%)
NIL

31-May-16
30-Jun-16
29-Jul-16
30-Aug-16
30-Sep-16

27.0166
25.5463
25.5372
25.2118
24.4615

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS BERHAD
" Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes

Source: www.bnm.gov.my

*** -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 September 2016, the Volatility Factor (VF) for this fund is 14.8 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.

34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

A-JPY (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

RATING

Lipper Total Return


Lipper Consistent Return
Lipper Preservation Return

3- Year
2
2
2

REVIEW

Market Review
For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa
Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the
outperformers while Japan, China, and Thailand were laggards.
September 2016 was a volatile month for Malaysia as the FBM KLCI initially rebounded post the United States (US) Federal Reserves
decision to leave rate unchanged following their September meeting. However, the positive sentiment was overturned by negative
developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger
Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.

At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that
the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.
Managers Comments

The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped
to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven
Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US
interest rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would
employ a stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2

Standard Deviation (JPY)

15.07%
30/11/2013 - 30/09/2016
(Annualized ) - Lipper

B-JPY (RETAIL)
Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

(***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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

October 4, 2013
August 31
4,400
JPY 8,138
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.92% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%
80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"


Fund (%)
-18.95
-9.30
-3.51
-11.30
-3.18

Since Inception (4 October 2013 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia

Benchmark
-25.37
-14.67
-5.45
-18.22
-8.38

High/Low NAV (JPY)


Low
7,950
7,950
7,950

High
11,944
9,301
9,325

Since Inception (4 October 2013 - 30 September 2016)


6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 30 September 2016
JPY 8,138
Income Distribution Declared by Management Company
Accumulation Units
Source : Lipper
Exchange Rates JPY 100/Ringgit-Middle Rate -BNM
30-Oct-15
28.0750
30-Nov-15
28.8009
31-Dec-15
28.0545
29-Jan-16
29.0078
Source: www.bnm.gov.my

29-Feb-16
31-Mac-16
29-Apr-16
31-May-16

26.8622
28.6601
27.4901
27.0166

30-Jun-16
29-Jul-16
30-Aug-16
30-Sep-16

25.5463
25.5372
25.5372

24.4615

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL
Top 10 Largest Holdings in Equity"
1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS BERHAD

" Asset Allocation & Top 10 Largest Holding shown are inclusive of all
classes

***- Exhange rate between RM & JPY are not hedged therefore movement of exchange rate will be reflected in the performance of the fund
Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2016, 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 specific risk, credit and default risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

B-JPY (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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

REVIEW

Market Review
For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa
Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the
outperformers while Japan, China, and Thailand were laggards.

September 2016 was a volatile month for Malaysia as the FBM KLCI initially rebounded post the United States (US) Federal Reserves
decision to leave rate unchanged following their September meeting. However, the positive sentiment was overturned by negative
developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger
Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that
the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.
Managers Comments
The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped
to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven
Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US
interest rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would
employ a stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.

34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2

B-SGD (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

(***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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

January 31, 2013


August 31
75,000
SGD 0.4533
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.50% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%
80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

Since Inception (31 January 2013 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia
Singapore 1 Year Fixed Deposit Rate
Since Inception (31 January 2013 - 30 September 2016)
Source : Lipper (Indicies)

Fund (%)
-8.42
4.09
-2.18
-2.14
10.59

Benchmark
-15.98
-2.57
-3.38
-8.10
3.90

2.47

High/Low NAV (SGD)


Since Inception (31 January 2013 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 30 September 2016
SGD 0.4533

Low
0.4045
0.4338
0.4099

High
0.5915
0.4741
0.4741

Income Distribution Declared by Management Company


2014
Accumulation Units
Source : Lipper
Exchange Rates SGD/Ringgit -Middle Rate -BNM
30-Oct-15
0.3257
29-Feb-16
30-Nov-15
0.3315
31-Mac-16
31-Dec-15
0.3294
29-Apr-16
0.3441
29-Jan-16
31-May-16
Source: www.bnm.gov.my

0.3338
0.3446
0.3444
0.3349

30-Jun-16
29-Jul-16
30-Aug-16
30-Sep-16

0.3354
0.3327
0.3362
0.3294

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS BERHAD

" 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 September 2016, the Volatility Factor (VF) for this fund is 12.8 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

B-SGD (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

RATING

Lipper Total Return


Lipper Consistent Return
Lipper Preservation Return

3- Year
2
2
3

REVIEW

Market Review

For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader
market outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the
FTSE Bursa Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and
Singapore were the outperformers while Japan, China, and Thailand were laggards.
September 2016 was a volatile month for Malaysia as the FBM KLCI initially rebounded post the United States (US) Federal Reserves
decision to leave rate unchanged following their September meeting. However, the positive sentiment was overturned by negative
developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new
Passenger Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing
that the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable
inflation.
Managers Comments

The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this
helped to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7Eleven Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US
interest rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would
employ a stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2

Standard Deviation (USD)

15.34%
30/11/2013 - 30/09/2016
(Annualized ) - Lipper

(***UNHEDGED)

B-USD (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

September 11, 2013


August 31
110,000
USD 0.8209
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.50% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%

80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

Since Inception (11 Sept 2013 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia

Fund (%)
-18.36
7.81
-2.74
-0.92
15.47

Benchmark
-26.26
1.37
-3.42
-9.23
8.36

High
1.1758
0.8532
0.8532

Low
0.7028
0.7900
0.7109

High/Low NAV (USD)


Since Inception (11 Sept 2013 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 30 September 2016
USD 0.8209
Income Distribution Declared by Management Company
Accumulation Units
Source : Lipper
Exchange Rates USD/Ringgit -Middle Rate -BNM
31-Jul-15
0.2620
31-Aug-15
0.2373
0.2249
30-Sep-15
0.2323
30-Oct-15
30-Nov-15
0.2347
Source: www.bnm.gov.my

31-Dec-15
29-Jan-16
29-Feb-16
31-Mac-16
29-Apr-16

0.2330
0.2411
0.2370
0.2550
0.2561

31-May-16
30-Jun-16
29-Jul-16
30-Aug-16
30-Sep-16

0.2427
0.2486
0.2467
0.2469
0.2412

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS BERHAD
" Asset Allocation & Top 10 Largest Holding shown are inclusive of all
classes

*** - Exhange rate between RM & USD are not hedged therefore movement of exchange rate will be reflected in the performance of the fund
Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2016, 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 specific risk, credit and default risk, interest rate risk, 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.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

B-USD (RETAIL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

RATING

Lipper Total Return


Lipper Consistent Return
Lipper Preservation Return

3- Year
2
2
3

REVIEW

Market Review

For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa
Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the
outperformers while Japan, China, and Thailand were laggards.
September 2016 was a volatile month for Malaysia as the FBM KLCI initially rebounded post the United States (US) Federal Reserves
decision to leave rate unchanged following their September meeting. However, the positive sentiment was overturned by negative
developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger
Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that
the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.

Managers Comments
The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped
to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven
Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US interest
rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would employ a
stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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 me ntioned in the Prospectus.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2

Standard Deviation (MYR)

7.56%
30/11/2013 - 30/09/2016
(Annualized ) - Lipper

C-MYR (INSTITUTIONAL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

(***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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

September 11, 2013


August 31
432.9 Million
RM 0.3629
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.30% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%

80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

Since Inception (11 Sept 2013 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia

Fund (%)
2.64
4.10
-0.30
1.91
7.99

Benchmark
-6.56
-2.36
-1.52
-3.79
1.94

High
0.5622
0.4151
0.4151

Low
0.3611
0.3611
0.3611

High/Low NAV (MYR)


Since Inception (11 Sept 2013 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 30 September 2016
RM 0.3629

Income Distribution Declared by Management Company


Net (sen per unit)
2014
4.98
2015
5.00
2016
5.00
Source : Lipper

Yield (%)
10.00
9.95
13.31

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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.

34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

C-MYR (INSTITUTIONAL)
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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

REVIEW

Market Review
For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa
Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the
outperformers while Japan, China, and Thailand were laggards.

September 2016 was a volatile month for Malaysia as the Kuala Lumpur Composite Index (KLCI) initially rebounded post the United States
(US) Federal Reserves decision to leave rate unchanged following their September meeting. However, the positive sentiment was
overturned by negative developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger
Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that
the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.
Managers Comments
The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped
to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven
Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US interest
rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would employ a
stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Standard Deviation (USD)

15.70%
30/11/2013 - 30/09/2016
(Annualized ) - Lipper

C-USD (INSTITUTIONAL)
Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Factsheet 30 September 2016

(***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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

FUND DETAILS AS AT 30 SEPTEMBER 2016


Fund Inception
Financial Year
Unit In Circulation
Unit NAV
Fund Category
Sales Charge
Annual Management Fee
Benchmark
Asset Allocation

:
:
:
:
:
:
:
:
:
:

INVESTMENT COMMITTEE MEMBERS

January 7, 2003
August 31
20,000
USD 0.8149
Equity Fund
Up to 6.50% of NAV per unit (not inclusive of GST)
1.30% of NAV
FBM KLCI
70% - 98% in equities
2% - 30% in cash or bonds (or a combination of both)

Tan Sri Abdul Wahid Omar (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 30 September 2016

Asset Allocation as at 30 September 2016"

20%

80%

Equities

Cash & cash equivalent

Source : Lipper(G) - Equity Malaysia.


Cumulative Total Return

Asset Allocation as at 30 September 2016"

Since Inception ( 11 Sept 2013 - 30 September 2016)


YTD (1 January 2016 - 30 September 2016)
1 - Month (31 August 2016 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Source : Lipper(G) - Equity Malaysia

Fund (%)
-18.96
7.99
-2.72
-0.80
15.72

Benchmark
-26.26
1.37
-3.42
-9.23
8.36

High
1.1776
0.8462
0.8462

Low
0.6961
0.7836
0.7042

High/Low NAV (USD)


Since Inception (11 Sept 2013 - 30 September 2016)
6 - Month (31 March 2016 - 30 September 2016)
1 - Year (30 September 2015 - 30 September 2016)
Price as at 31 September 2016
USD 0.8149
Income Distribution Declared by Management Company
Net (sen per unit)
2014
NIL
Source : Lipper

Yield (%)
NIL

Exchange Rates USD/Ringgit -Middle Rate -BNM


0.2323
30-Oct-15
30-Nov-15
0.2347
31-Dec-15
0.2330
0.2411
29-Jan-16
Source: www.bnm.gov.my

29-Feb-16
31-Mac-16
29-Apr-16
31-May-16

0.2370
0.2550
0.2561
0.2427

30-Jun-16
29-Jul-16
30-Aug-16
30-Sep-16

0.2486
0.2467
0.2469
0.2412

Equities
Construction
Finance
Industrial Product
Plantations
Trading & Services
REITs
Properties
Technology
Foreign REITS
TOTAL

% of
portfolio
4.20
20.09
3.97
9.57
31.65
7.10
1.87
1.68
0.00
80.14

Top 10 Largest Holdings in Equity"


1) TENAGA NASIONAL BERHAD
2) CIMB GROUP HOLDINGS BERHAD
3) PUBLIC BANK BERHAD
4) SUNWAY REAL ESTATE INVESTMENT TRUST
5) SIME DARBY BERHAD
6) KLCC PROPERTY HOLDINGS BERHAD
7) BURSA MALAYSIA BERHAD
8) MALAYAN BANKING BERHAD
9) AXIATA GROUP BERHAD
10) GENTING PLANTATIONS BERHAD
" Asset Allocation & Top 10 Largest Holding shown are inclusive of all classes

*** - Exhange rate between RM & USD are not hedged therefore movement of exchange rate will be reflected in the performance of the fund
Investors are advised to read and understand the contents of the Master Prospectus for Conventional Funds dated 17 September 2016, 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 specific risk, credit and default risk, interest rate risk, 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.

34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 1 of 2

C-USD (INSTITUTIONAL)

Growth Fund
Smart Investment Choice for Constant Capital Growth
Fund Review as at 30 September 2016

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.

INVESTOR PROFILE
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.
* ( medium term - a period between 3 to 5 years)
** ( long term - a period of more than 5 years)

RATING

Lipper Total Return


Lipper Consistent Return
Lipper Preservation Return

3- Year
2
2
3

REVIEW

Market Review
For the month, the FTSE Bursa Malaysia Kuala Lumpur Composite Index (FBM KLCI) closed 1.5% lower at 1,653 points. The broader market
outperformed as the FTSE Bursa Malaysia EMAS Index (FBM Emas) declined by only 0.8% to close at 11,688 points while the FTSE Bursa
Malaysia SmallCap Index (FBM Small Cap Index) rose 1.5% to 15,394 points. Among regional bourses, Hong Kong and Singapore were the
outperformers while Japan, China, and Thailand were laggards.
September 2016 was a volatile month for Malaysia as the FBM KLCI initially rebounded post the United States (US) Federal Reserves
decision to leave rate unchanged following their September meeting. However, the positive sentiment was overturned by negative
developments on the financial health of Deutsche Bank, the largest German bank.
On the local corporate front, Ekovest Berhad has proposed to sell a 40% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd for
RM1.1 billion to Employees Provident Fund (EPF). Meanwhile, Transport Minister Datuk Seri Liow Tiong Lai affirmed that a new Passenger
Service Charge (PSC) rate structure would be implemented across all Malaysian airports by 1 January 2017.
At the Monetary Policy Committee (MPC) meeting, Bank Negara Malaysia maintained the Overnight Policy Rate (OPR) at 3.00% citing that
the rate is consistent with the policy stance to ensure that the domestic economy is on a steady growth path amid stable inflation.
Managers Comments
The fund outperformed the benchmark mainly due to asset allocation and stock selection. The fund was holding some cash and this helped
to cushion the fund from the decline in the general market during the month. The top performing holdings for the fund were 7-Eleven
Malaysia Holdings Berhad, Oldtown Berhad, and Genting Plantation Berhad.
The manager anticipates higher market volatility in the run up to the US Presidential Elections in Nov 2016 and the possibility of a US interest
rate hike by year end. As a result of market volatility, the manager would take advantage of market declines to add. We would employ a
stockpicking 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, strong consumer franchises, 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 2016, 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 specific risk, credit and default risk, interest rate risk, 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 me ntioned in the Prospectus.
34th Floor Menara PNB, 201-A Jalan Tun Razak, 50400 Kuala Lumpur. Tel: +603-2034 0800 Fax: +603 2163 3212/2535
Email: ambcare@pnb.com.my Website: www.ambmutual.com.my

Page 2 of 2