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2017
Q U A R T E R LY F U N D R E V I E W
For funds distributed by UTCs PUBLIC MUTUAL BERHAD (23419-A)
FBM KLCI Rose in 1Q 2017 in Tandem with Higher Global and Regional Markets
• Commencing the quarter on a firm note, the FBM KLCI trended higher in January and February amid higher oil prices and a firmer Ringgit.
• In March, institutional and retail buying interest helped the Index to touch a near 2-year intraday high of 1,760 points on 29 March 2017 before closing
at 1,740 points for a gain of 6.0% in 1Q 2017.
• Global markets traded higher in 1Q 2017 with the U.S. and United Kingdom (U.K.) markets touching record highs over the quarter.
South Korea 2,160 +3.3 -0.8 +6.6 • Meanwhile, the technology-based Nasdaq rose by 9.8% to close at 5,912
points over the same period.
Taiwan 9,812 +11.0 +0.9 +6.0
1 2 3
FBM KLCI rebounds after the FBM KLCI touches a new record FBM KLCI retreats on concerns of
Fed maintains its monthly intraday high of 1,896 points the impact of softening oil prices
bond-buying program. on 8 July 2014. on the Malaysian economy.
4 5 6 7
FBM KLCI retraces in tandem FBM KLCI rebounds FBM KLCI eases amid FBM KLCI rebounds in tandem
with the sell-down in global amid a moderate lacklustre regional markets with firmer regional markets
and regional markets. recovery in oil prices. and the weaker Ringgit. and higher oil prices.
1
Economic Update Stock Market Outlook
Malaysia
• Global: After remaining well-supported in the first two months of 2017,
the U.S. market retraced in March 2017 as Congress’ inability to pass the
• Malaysia’s Gross Domestic Product (GDP) growth gained pace from 4.3% new healthcare bill raised concerns over the new administration’s ability
in 3Q 2016 to 4.5% in 4Q 2016 on the back of higher investment spending to fulfill its other campaign pledges.
and a rebound in exports. Investment spending growth increased from
2.0% to 2.4% over the same period due to higher private investment • Meanwhile, the Federal Reserve’s decision to raise the Federal funds rate
spending. Meanwhile, exports grew by 1.3% in 4Q 2016 compared to in mid-March was well-anticipated by the market. Looking ahead, we
a decline of 1.3% in 3Q 2016 amid a rebound in manufacturing and expect investors to focus on the U.S. budget proposals for 2018 and their
electrical & electronics (E&E) exports. For the full year, the economy grew implications on the proposed tax reform and deregulation. Following the
at a slower pace of 4.2% in 2016 versus 5.0% in 2015 due to lower export recent pullback, the S&P 500 Index was trading at a premium of 5.8%
growth and a moderation in domestic demand. relative to its long-term average as at end-March.
• In its latest annual report, Bank Negara Malaysia (BNM) projected GDP
growth to be in a range of 4.3%-4.8% for 2017, up from 4.2% in 2016. This
Regional and Global Markets’ Valuations
would be driven by resilient domestic demand and firmer export growth Historic Prospective Discount / Estimated
as global trade improves. Meanwhile, inflation is forecasted at 3.0%-4.0% P/E (2) P/E Premium Dividend
for 2017 amid higher fuel prices. (x) (x) (%) Yield (%)
ASEAN
Malaysia’s GDP Growth Breakdown by Aggregate Demand
Thailand 12.8 15.5 +21.1 3.0
Quarterly Annual Philippines 16.1 17.7 +9.9 1.7
(%) YoY
3Q 2016 4Q 2016 2016 2017f Indonesia 14.8 16.0 +8.1 2.1
Private Consumption 6.4 6.2 6.1 6.0 Singapore 14.3 14.8 +3.5 3.5
Public Consumption 2.2 -4.2 1.0 -0.2 Malaysia 16.4 16.5 +0.6 3.2
Total Investment 2.0 2.4 2.7 3.3 North Asia
Hong Kong 12.7 12.0 -5.5 3.5
Exports -1.3 1.3 0.1 2.2
Japan 17.5 15.8 -9.7 2.0
Imports -2.3 0.7 0.4 1.8
Taiwan 15.3 13.7 -10.5 4.0
GDP Growth 4.3 4.5 4.2 4.3-4.8
Korea 11.3 9.9 -12.4 1.7
Source: Department of Statistics Malaysia
f = Bank Negara Malaysia forecasts China 'H' Shares 10.8 8.3 -23.1 3.6
Global Markets
• Commencing at RM4.49 per U.S. Dollar at the end of 4Q 2016, the Ringgit Australia 14.6 16.2 +11.0 4.3
strengthened by 1.4% in 1Q 2017 to close at RM4.43 per U.S. Dollar.
Eurozone 13.9(3) 15.4 +10.8 4.0
Regional U.S.(1) 17.3(3) 18.3 +5.8 2.1
Source: Bloomberg, 31 March 2017
(1)
S&P 500 Index (2) 2007-2016 historical average (3)
1997-2016 historical average
• China’s 4Q 2016 GDP growth inched up to 6.8% from 6.7% in 3Q 2016
due to firmer growth in the services sector. For the full year of 2016,
• Asia: At the National People's Congress (NPC) and the Chinese People’s
GDP growth slowed to a 26-year low of 6.7% from 6.9% in 2015 amid a
moderation in the services sector. Political Consultative Conference (CPPCC) meetings held in March, the
Chinese government reiterated its commitment to restructure state-
owned enterprises (SOEs) and reduce excess capacity. With these ongoing
Global
efforts, China’s economic growth is expected to be sustained at around
6.5%, which should help underpin the valuations of China ‘H’ shares.
• U.S. GDP growth rose from 1.7% in 3Q 2016 to 2.0% in 4Q 2016 due to
higher consumption and investment spending. For the full year of 2016, • Looking ahead, the China market is likely to react to monthly economic
U.S. GDP growth eased to 1.6% from 2.6% in 2015 amid lower investment data releases such as the level of China’s foreign reserves and Renminbi
spending and slower consumption growth. movements. A major event in April that investors are expected to focus on
is the meeting between the Chinese president and the new U.S. president,
• Based on consensus estimates, U.S. economic growth is projected to gain
pace from 1.6% in 2016 to 2.2% in 2017 amid a moderate recovery in which will determine the trade policies between the two countries going
investment spending. forward.
• The U.S. Personal Consumption Expenditures (PCE) inflation rate rose to a • U.S. trade policies remain the key uncertainty for the Taiwan market as
near 5-year high of 2.1% in February from 1.9% in January due to higher Taiwan’s economy is highly export-oriented. Any protectionist measures
energy prices. Meanwhile, the core PCE inflation rate was sustained at imposed by the U.S. may impact sentiment towards Taiwanese exporters.
1.8% over the same period. However, Taiwan’s technology companies are positioned to benefit from
the expected launch of the iPhone 8 in the second half of 2017.
• Driven by slower jobs creation in the services sector, total new non-farm
jobs eased to 235,000 jobs in February compared to a revised 238,000 • Regional tensions between China and South Korea intensified after the
jobs created in January. Meanwhile, the unemployment rate edged down deployment of South Korea’s new military defence system in early March.
to 4.7% from 4.8% over the same period. Although the impeachment of the former president in early March has
removed a major market overhang, the South Korean market is expected
• The Federal Reserve raised the Federal funds rate target range by 25 to remain volatile ahead of the presidential election in May 2017. As at
basis points (bps) from 0.50%-0.75% to 0.75%-1.00% at its Federal Open end-March, the South Korean market was trading at a 12.4% discount to
Market Committee (FOMC) meeting on 14-15 March 2017. The FOMC its long-term average.
members stated that the ongoing strength of the U.S. economy would
warrant gradual increases in the Federal funds rate. • Over in South-East Asia, the rising interest rate environment in Singapore
would continue to favour the banks as they benefit from wider net
• The U.K. gave a formal notification of its exit from the European Union interest margins. Meanwhile, the Indonesian government is holding
(EU) under Article 50 on 29 March 2017, kicking off the two-year process discussions with Standard & Poor’s (S&P) on the possibility of a sovereign
of trade negotiations with the EU. bond rating upgrade. If successful, foreign investor interest in Indonesian
equities is expected to improve.
2
• Malaysia: On the domestic front, investors are expected to monitor Bond Market Review and Outlook
external macro factors such as the U.S. tax reform, the pace of U.S.
economic activities and the outcome of the French presidential elections • Overall, the U.S. Treasury (UST) market rebounded in 1Q 2017 on concerns
in April and May. over the implementation of U.S. expansionary fiscal policies which
were anticipated to lead to higher inflation and interest rates in the
• Meanwhile, a sustained export recovery as well as measures to boost
U.S. The UST market closed the month of January on a soft note amid
domestic demand such as the ongoing implementation of infrastructure
resilient U.S. economic data, but rebounded in February following the
projects may help to underpin the local market.
Federal Reserve’s decision to keep the Federal funds rate unchanged at
• In tandem with improving sentiment in regional markets, Bursa Securities the 31 January-1 February FOMC meeting. The Federal funds rate was
registered a net inflow of RM4.4 billion from foreign funds in March 2017, subsequently increased by 25 bps from 0.50%-0.75% to 0.75%-1.00%
resulting in a total net inflow of RM5.9 billion for the first quarter of the at the 14-15 March FOMC meeting. However, the market rebounded
year. as market participants had priced in the hike prior to the March FOMC
meeting, coupled with the failure of the new U.S. administration
• Malaysia’s foreign reserves firmed by 0.3% to US$94.9 billion as at to repeal the existing U.S. healthcare plan. The yields of 5-year and
15 March 2017 compared to US$94.6 billion at end-2016. At the current 10-year U.S. Treasury notes fell by 1 and 5 bps to close at 1.92% and 2.39%
level, the reserve position is sufficient to finance 8.3 months of retained respectively, while the yield of 3-year U.S. Treasury notes rose by 4 bps to
imports and is equivalent to 1.1 times the short-term external debt. close at 1.49% over the quarter.
• Looking ahead, although the U.S. Federal Reserve increased its interest
Net Foreign Fund Flows of Bursa Malaysia rates at the March FOMC meeting, central banks in other developed
RM billion
8.0
countries will likely continue to maintain a low interest rate regime.
6.1 • On the domestic front, the Malaysian Government Securities (MGS)
6.0
4.4 market closed mixed in 1Q 2017 against the backdrop of the strengthening
4.0 of the Ringgit and a decline in U.S. Treasury yields. Meanwhile, BNM kept
the Overnight Policy Rate (OPR) unchanged at 3.00% at the January
2.0 1.7 and March Monetary Policy Committee (MPC) meetings as the MPC
1.0 1.0
0.5 0.5 committee believes that the current monetary policy stance is supportive
0.0 of domestic economic growth. Foreign holdings of MGS decreased to
-0.3 -0.4
-1.0 RM158.94 billion in February 2017 from RM168.48 billion in December
-2.0 -1.8 2016. The 3-year and 5-year MGS yields rose by 1 and 11 bps to close at
-4.0
3.53% and 3.81% respectively, while the 10-year MGS yield fell by 9 bps to
-3.9 close at 4.13% in 1Q 2017.
-4.3
-6.0
Mar-16 Jun-16 Sep-16 Dec-16 Mar-17 • For the quarter ended March 2017, the yields of 3-year and 5-year AAA-
rated corporate bonds fell by 4 and 9 bps to close at 4.25% and 4.38%
Source: Bursa Malaysia respectively, while the yield of 10-year AAA corporate bonds rose by 1 bp
to close at 4.72%.
• At the FBM KLCI’s closing level of 1,740 points on 31 March 2017, the
local stock market was trading at a prospective P/E ratio of 16.5x, which
• Looking ahead, global bond market participants will continue to be
was above its 10-year average of 16.4x. Meanwhile, the local market’s
dividend yield of 3.18% was above the 12-month fixed deposit rate of vigilant on the potential impact of the new U.S. administration’s fiscal
3.11%. and trade policies, as well as the outlook for the U.S. Federal funds rate
and its impact on the global economy and global bond yields.
Bursa Securities’ P/E Ratio*
P/E (x)
Quarterly Bond Yields
25.0
3 Year Bonds
15.0
U.S. Treasury Bond 1.45 1.49 +4
MGS 3.52 3.53 +1
%
Bursa Securities’ Dividend Yield* 'AAA' Corporate Bond 4.47 4.38 -9
8.0 10 Year Bonds
31 Oct’ 08: U.S. Treasury Bond 2.44 2.39 -5
6.38%
6.0
MGS 4.22 4.13 -9
2.0
0.0
07 08 09 10 11 12 13 14 15 16 17
* Source: Bloomberg
3
Our Unit Trust Funds’ Performance Review (1Q 2017)
3-Month Return to
Funds with the Highest
No. Nature of Funds 31 March 2017
Returns
(%)
Public Islamic Asia Dividend
1 Foreign Equity 8.31
Fund
Public Islamic Emerging
2 Domestic Equity 8.27
Opportunities Fund
Public Islamic Asia Tactical Foreign Mixed
3 8.19
Allocation Fund Asset
Public Islamic Asia Leaders
4 Foreign Equity 8.00
Equity Fund
4
The following funds’ performance is covered in this report:
Equity - Regional
Public Asia Ittikal Fund (PAIF) 22.08.2006 5 22
Public Islamic Asia Dividend Fund (PIADF) 03.04.2007 5 23
Public China Ittikal Fund (PCIF) 20.11.2007 5 24
Public Islamic Asia Leaders Equity Fund (PIALEF) 19.01.2010 5 25
Public Islamic Optimal Equity Fund (PIOEF) 26.07.2016 5 26
Balanced - Local
Public Islamic Growth Balanced Fund (PIGRBF) 07.10.2015 3 27
Mixed Asset - Local
Public Islamic Mixed Asset Fund (PIMXAF) 20.09.2005 4 28
Public Ehsan Mixed Asset Conservative Fund (PESMACF) 25.11.2014 3 29
Public Ehsan Mixed Asset Growth Fund (PESMAGF) 25.11.2014 4 30
Mixed Asset - Regional
Public Islamic Asia Tactical Allocation Fund (PIATAF) 21.08.2007 5 31
Bond / Fixed Income
Public Islamic Bond Fund (PI BOND) 15.08.2001 2 32
Public Islamic Enhanced Bond Fund (PIEBF) 28.11.2006 2 33
Public Islamic Select Bond Fund (PISBF) 10.07.2007 2 34
Public Islamic Income Fund (PI INCOME) 14.08.2008 2 35
Public Islamic Infrastructure Bond Fund (PIINFBF) 16.11.2010 2 36
Public Islamic Strategic Bond Fund (PISTBF) 30.12.2010 2 37
Public Sukuk Fund (PSKF) 19.07.2011 2 38
Money Market
Public Islamic Money Market Fund (PIMMF) 05.06.2007 1 39
Public e-Islamic Cash Deposit Fund (PeICDF) 25.08.2014 1 40
* Risk category is referred as follows: 5 – Very High, 4 – High, 3 – Moderate to High, 2 – Low to Moderate and 1 – Very Low
Please refer to page 41 for page reference index of the respective funds according to alphabetical order and financial year end.
5
PUBLIC ITTIKAL FUND (P ITTIKAL)
Fund Objective 3-year
(1)
Fund Volatility
To achieve steady capital growth over the medium to long term period by investing in a portfolio of investments that complies with 5.6
low
Shariah principles. Lipper Analytics
15 Mar 17
Singapore
0.01%
200%
Distribution History
0% Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
2007 Final 9.00 31.5.07 8.2 8.2
-200%
May-97 Apr-02 Apr-07 Apr-12 Mar-17
Interim 10.00 30.11.07 9.0
Benchmark: Kuala Lumpur Syariah Index (prior to 1 November 2007). 2008 14.6
FTSE Bursa Malaysia EMAS Shariah Index (w.e.f. 1 November 2007). Final 5.00 30.5.08 5.1
Underlying index data are sourced from Lipper. 2009 Final 6.00 29.5.09 7.7 7.7
* Commencement Date - 9 May 1997
2010 Final 8.00 31.5.10 10.1 10.1
Top 5 Holdings as at 31 March 2017 2011 Final 8.00 31.5.11 8.8 8.8
Benchmark (%) 43.69 -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 5.6 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
6
PUBLIC ISLAMIC EQUITY FUND (PIEF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through a diverse selection of growth stocks that complies with Shariah principles. 6.1
moderate
Lipper Analytics
15 Mar 17
320% Germany
1.11%
PIEF Benchmark
Indonesia
240% 0.55%
Distribution History
Total Returns
160%
Top 5 Holdings as at 31 March 2017 2013 Final 2.00 31.5.13 5.6 5.6
Fund Return (2) (%) 42.26 -34.79 33.84 17.53 4.13 15.26 11.94 0.09 4.44 -2.83
Benchmark (%) 43.69 -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 6.1 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
7
PUBLIC ISLAMIC OPPORTUNITIES FUND (PIOF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investments in companies with small market capitalisation which comply with Shariah principles. 7.4
moderate
Lipper Analytics
15 Mar 17
PIOF Benchmark
240% Distribution History
Financial Year Distribution (2) Declaration Distribution
Total Returns
Top 5 Holdings as at 31 March 2017 Note: Distribution yield simply measures the level of distributions and is not a measure
of fund performance.
Security Name
MY E.G. Services Berhad
V.S. Industry Berhad
Inari Amertron Berhad
Supermax Corporation Berhad
Syarikat Takaful Malaysia Berhad
Fund Return (2) (%) 51.19 -35.08 53.07 18.46 -4.47 16.92 28.36 3.20 18.70 -7.05
Benchmark (%) 43.69 -43.52 43.03 18.20 2.41 11.85 32.94 -5.29 9.51 -9.42
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 7.4 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
8
PUBLIC ISLAMIC DIVIDEND FUND (PIDF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income by investing in a portfolio of stocks that complies with Shariah requirements and which offer or have the potential 5.7
moderate
to offer attractive dividend yields. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Islamic Dividend Fund vs its Benchmark Communications 26.73%
Index Over the Following Periods Ended 31 March 2017 Consumer, Non-cyclical 19.23%
Industrial 11.56%
PIDF Benchmark PIDF Benchmark Utilities 9.56%
(%) (%) (%) (%) Diversified 8.73%
Total Total Annualised Annualised
Return Return Return Return
Total Assets by Country as at 31 March 2017
1-year 5.35 2.62 5.35 2.62
USA
3-year 6.93 -1.13 2.26 -0.38 9.21%
5-year 31.31 18.67 5.59 3.48 Singapore
3.00%
10-year 106.06 51.03 7.49 4.20
Taiwan
Since 2.88%
Commencement 169.62 108.30 9.37 6.85
China Malaysia
1.45% 81.31%
Performances of PIDF and Benchmark Index Great Britain
0.76%
(Since Fund Commencement* to 31 March 2017) Thailand
180% 0.72%
Indonesia
PIDF Benchmark
0.67%
120%
Distribution History
Total Returns
Benchmark (%) 43.69 -43.52 43.03 17.15 2.55 10.98 12.28 -3.39 2.54 -5.19
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 5.7 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
9
PUBLIC ISLAMIC SECTOR SELECT FUND (PISSF)
Fund Objective 3-year
(1)
Fund Volatility
To seek long-term capital appreciation by investing in a portfolio of securities, mainly equities, that complies with Shariah requirements 6.4
moderate
from market sectors in the domestic market. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Islamic Sector Select Fund vs its Communications 23.74%
Benchmark Index Over the Following Periods Ended Consumer, Non-cyclical 21.68%
Diversified 13.08%
31 March 2017 Industrial 12.58%
Utilities 10.81%
PISSF FBMS Index PISSF FBMS Index
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return
Total Assets by Country as at 31 March 2017
1-year 0.80 2.50 0.80 2.50
3-year -2.16 -2.55 -0.72 -0.86
5-year 22.07 18.45 4.06 3.44
Since Malaysia
63.53 25.26 5.41 2.44
Commencement 100.00%
30%
2010 1.00 30.11.10 3.5
0%
2011 2.00 30.11.11 7.2
Fund Return (2) (%) -31.82 36.63 30.64 7.19 8.05 14.63 -1.63 1.71 -4.45
Benchmark (%) -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 6.4 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
10
PUBLIC ISLAMIC SELECT TREASURES FUND (PISTF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah 8.2
high
requirements in the domestic market. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Islamic Select Treasures Fund vs its
Consumer, Non-cyclical 21.18%
Benchmark Index Over the Following Periods Ended Industrial 18.33%
31 March 2017 Financial 18.12%
Communications 15.95%
PISTF Benchmark PISTF Benchmark Technology 5.50%
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return
Total Assets by Country as at 31 March 2017
1-year 6.86 14.57 6.86 14.57
3-year 19.28 10.12 6.05 3.26
5-year 47.74 71.91 8.11 11.43
Since
101.08 121.82 8.03 9.21 Malaysia
Commencement 100.00%
80%
2010 1.25 31.5.10 4.9
40%
2011 1.50 31.5.11 4.9
Fund Return (2) (%) 31.00 23.99 -0.14 9.78 17.92 -3.26 18.37 -2.67
Benchmark (%) 43.03 18.20 2.41 11.85 32.94 -5.29 15.97 -4.29
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 8.2 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
11
PUBLIC ISLAMIC OPTIMAL GROWTH FUND (PIOGF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income and capital growth by investing in Shariah-compliant stocks which offer attractive dividend yields and growth stocks 6.1
moderate
in the domestic market. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Islamic Optimal Growth Fund vs Consumer, Non-cyclical 23.75%
Communications 21.27%
its Benchmark Index Over the Following Periods Ended Diversified 11.37%
31 March 2017 Utilities 9.88%
Energy 9.09%
PIOGF FBMS Index PIOGF FBMS Index
(%) (%) (%) (%)
Total Total Annualised Annualised Total Assets by Country as at 31 March 2017
Return Return Return Return
1-year 1.44 2.50 1.44 2.50
3-year 2.00 -2.55 0.66 -0.86
5-year 25.15 18.45 4.58 3.44
Since Malaysia
61.33 38.47 5.50 3.71
Commencement 100.00%
24%
2010 0.50 29.1.10 2.0
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 6.1 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
12
PUBLIC ISLAMIC SELECT ENTERPRISES FUND (PISEF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investments in the largest 50 companies in terms of market capitalisation (at the point of purchase) 6.1
moderate
listed on Bursa Securities which comply with Shariah requirements. Lipper Analytics
15 Mar 17
80%
2009 1.25 31.7.09 4.3
Note: Distribution yield simply measures the level of distributions and is not a measure
Top 5 Holdings as at 31 March 2017 of fund performance.
Security Name
Tenaga Nasional Berhad
Sime Darby Berhad
Petronas Chemicals Group Berhad
Axiata Group Berhad
IHH Healthcare Berhad
Benchmark (%) 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 6.1 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
13
PUBLIC ISLAMIC ALPHA-40 GROWTH FUND (PIA40GF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth by investing in stocks which comply with Shariah requirements. 6.3
moderate
Lipper Analytics
15 Mar 17
14
PUBLIC ISLAMIC TREASURES GROWTH FUND (PITGF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing primarily in small and medium sized companies, which 8.3
high
comply with Shariah principles. Lipper Analytics
15 Mar 17
PITGF Benchmark
To achieve capital growth over the medium to long term period by investing in a portfolio of investments that complies with Shariah 6.3
moderate
principles. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Ittikal Sequel Fund vs its Benchmark
Communications 21.16%
Index Over the Following Periods Ended 31 March 2017 Consumer, Non-cyclical 21.00%
Diversified 10.61%
PITSEQ FBMS Index PITSEQ FBMS Index Industrial 10.07%
(%) (%) (%) (%) Utilities 8.38%
Total Total Annualised Annualised
Return Return Return Return
Total Assets by Country as at 31 March 2017
1-year 3.40 2.50 3.40 2.50
China
3-year 6.83 -2.55 2.22 -0.86 5.92%
5-year 38.26 18.45 6.69 3.44 USA
3.38%
Since
45.78 29.08 7.20 4.82 Taiwan
Commencement
1.71%
Singapore Malaysia
Performances of PITSEQ and FTSE Bursa Malaysia EMAS 1.47% 85.95%
0.16%
20%
Distribution History
10% Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
0% 2012 1.25 30.11.12 4.7
Note: Distribution yield simply measures the level of distributions and is not a measure
Top 5 Holdings as at 31 March 2017 of fund performance.
Security Name
Tenaga Nasional Berhad
Sime Darby Berhad
Axiata Group Berhad
DiGi.Com Berhad
Telekom Malaysia Berhad
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 6.3 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
16
PUBLIC ISLAMIC SAVINGS FUND (PISVF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income over the medium to long-term period by investing in a portfolio of investments that complies with Shariah requirements 6.1
moderate
and which offer or have the potential to offer attractive dividend yields. Lipper Analytics
15 Mar 17
Top 5 Sectors:
Performance of Public Islamic Savings Fund vs its Benchmark Communications 25.64%
Index Over the Following Periods Ended 31 March 2017 Consumer, Non-cyclical 20.38%
Utilities 9.46%
PISVF Benchmark PISVF Benchmark Industrial 9.35%
(%) (%) (%) (%) Diversified 8.77%
Total Total Annualised Annualised
Return Return Return Return
Total Assets by Country as at 31 March 2017
1-year 5.62 2.62 5.62 2.62
USA
3-year 8.51 -1.13 2.76 -0.38 8.19%
5-year 34.51 18.67 6.10 3.48 Singapore
Since 3.42%
37.79 24.11 6.29 4.20
Commencement
Taiwan Malaysia
2.05% 84.03%
Security Name
Tenaga Nasional Berhad
Sime Darby Berhad
Telekom Malaysia Berhad
Petronas Chemicals Group Berhad
Axiata Group Berhad
Top 5 Sectors:
Performance of Public Islamic Growth & Income Fund vs Communications 26.15%
its Benchmark Index Over the Following Periods Ended Consumer, Non-cyclical 21.11%
Industrial 10.44%
31 March 2017 Utilities 10.00%
PISGIF FBMS Index PISGIF FBMS Index Energy 9.39%
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return Total Assets by Country as at 31 March 2017
1-year 2.89 2.50 2.89 2.50 Singapore
5.01%
3-year 1.30 -2.55 0.43 -0.86
Since China
2.55 3.41 0.80 1.06 2.79%
Commencement
Thailand Malaysia
0.95% 91.24%
Performances of PISGIF and FTSE Bursa Malaysia EMAS
Shariah (FBMS) Index (Since Fund Commencement* to Taiwan
0.01%
31 March 2017)
16%
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
18
PUBLIC ISLAMIC ENTERPRISES EQUITY FUND (PIENTEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah
requirements.
China
Performances of PIENTEF and Benchmark Index 3.73%
(Since Fund Commencement* to 31 March 2017) Malaysia
Taiwan 81.55%
8% 2.58%
PIENTEF Benchmark Indonesia
2.35%
0% Singapore
Total Returns
0.78%
-8%
-16%
Apr-15 Oct-15 Apr-16 Oct-16 Mar-17
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
19
PUBLIC ISLAMIC ADVANTAGE GROWTH EQUITY FUND (PIAVGEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a diversified portfolio of stocks that complies with
Shariah requirements.
Top 5 Sectors:
Performance of Public Islamic Advantage Growth Equity
Consumer, Non-cyclical 32.45%
Fund vs its Benchmark Index Over the Following Periods Industrial 18.30%
Ended 31 March 2017 Communications 17.84%
Consumer, Cyclical 12.58%
PIAVGEF FBMHS Index PIAVGEF FBMHS Index Technology 7.68%
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return
1-year 8.55 0.81 8.55 0.81 Total Assets by Country as at 31 March 2017
Since
9.68 4.58 6.32 3.02 Taiwan
Commencement
2.04%
China
Performances of PIAVGEF and FTSE Bursa Malaysia Hijrah 1.67% Malaysia
95.23%
Shariah (FBMHS) Index (Since Fund Commencement* to
31 March 2017) Singapore
12% 1.06%
PIAVGEF FBMHS Index
8%
Total Returns
4%
0%
-4%
Sep-15 Feb-16 Jun-16 Nov-16 Mar-17
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
20
PUBLIC ISLAMIC EMERGING OPPORTUNITIES FUND (PIEMOF)
Fund Objective
To achieve capital growth through investments in Shariah-compliant companies with mid and small market capitalisation.
0%
Taiwan Malaysia
-5% 1.31% 98.69%
Apr-16 Jul-16 Oct-16 Dec-16 Mar-17
21
PUBLIC ASIA ITTIKAL FUND (PAIF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period by - The Edge-Lipper Malaysia Fund Awards 2017 : 9.2
high
investing in a portfolio of investments in domestic and regional • Best Equity Asia Pacific - Malaysia Provident, 3 years Lipper Analytics
15 Mar 17
80% Thailand
1.15%
Total Returns
Distribution History
40%
Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
0% 2007 2.00 31.10.07 6.3
Benchmark (%) 25.92 -47.67 59.21 8.86 -6.82 14.43 10.37 7.61 16.16 5.44
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 9.2 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
22
PUBLIC ISLAMIC ASIA DIVIDEND FUND (PIADF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income by investing in a portfolio of stocks in domestic and regional markets that complies with Shariah requirements and which 8.3
high
offer or have the potential to offer attractive dividend yields. Lipper Analytics
15 Mar 17
Hong Kong
Performances of PIADF and Benchmark Index 6.46%
(Since Fund Commencement* to 31 March 2017) China
90% Singapore 25.97%
PIADF Benchmark 4.04%
60% Indonesia
Thailand 3.43%
3.60%
Total Returns
30%
0% Distribution History
Financial Year Distribution (2) Declaration Distribution
-30% (Sen) Date Yield (%)
2008 0.40 30.4.08 1.8
-60%
Apr-07 Oct-09 Apr-12 Oct-14 Mar-17 2009 0.25 30.4.09 1.4
Benchmark: Benchmark for PIADF is a composite of 30% Kuala Lumpur Syariah Index
(prior to 1 November 2007), 30% FTSE Bursa Malaysia EMAS Shariah 2010 0.75 30.4.10 3.5
Index (1 November 2007 to 29 April 2011), 20% FTSE Bursa Malaysia
Hijrah Shariah Index (w.e.f. 30 April 2011), 70% Dow Jones Islamic 2011 0.40 29.4.11 1.7
Market Asia Ex-Japan IndexSM (prior to 1 January 2009), 70% S&P Shariah
BMI Asia Ex-Japan Index (w.e.f. 1 January 2009) and 10% 3-Month 2012 0.40 30.4.12 1.7
Islamic Interbank Money Market (IIMM) rate. 2013 0.40 30.4.13 1.6
Underlying index data are sourced from S&P Dow Jones Indices, LLC,
Lipper and Bank Negara Malaysia and expressed in Ringgit terms. 2014 0.40 30.4.14 1.4
* Commencement Date - 23 April 2007
2015 1.00 30.4.15 3.4
Top 5 Holdings as at 31 March 2017
2016 1.00 29.4.16 3.7
Security Name
Note: Distribution yield simply measures the level of distributions and is not a measure
Tencent Holdings Limited of fund performance.
Benchmark (%) -47.67 59.21 8.86 -6.90 13.21 9.91 6.49 11.60 3.49
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 8.3 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
23
PUBLIC CHINA ITTIKAL FUND (PCIF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing in a portfolio of Shariah-compliant investments in the 10.5
very high
greater China region and the balance in the domestic market. Lipper Analytics
15 Mar 17
0% Distribution History
Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
-30%
2016 0.30 30.11.16 1.1
Note: Distribution yield simply measures the level of distributions and is not a measure
-60% of fund performance.
Dec-07 Apr-10 Aug-12 Nov-14 Mar-17
Benchmark: Benchmark for PCIF is a composite of 50% Dow Jones Islamic Market
Hong Kong IndexSM (prior to 1 January 2009), 50% S&P Shariah BMI
Hong Kong and China ‘H’ Shares Index (w.e.f. 1 January 2009), 30% Dow
Jones Islamic Market Taiwan IndexSM (prior to 1 January 2009), 30% S&P
Shariah BMI Taiwan Index (w.e.f. 1 January 2009) and 20% FTSE Bursa
Malaysia EMAS Shariah Index (prior to 30 April 2011), 20% FTSE Bursa
Malaysia Hijrah Shariah Index (w.e.f. 30 April 2011).
Underlying index data are sourced from S&P Dow Jones Indices, LLC and
Lipper and expressed in Ringgit terms.
* Commencement Date - 10 December 2007
Fund Return (2) (%) -41.91 43.81 -0.91 -20.32 8.78 11.97 10.34 10.09 6.61
Benchmark (%) -47.45 61.42 4.35 -12.20 12.84 14.34 9.17 14.83 6.90
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 10.5 and is classified as “Very High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
24
PUBLIC ISLAMIC ASIA LEADERS EQUITY FUND (PIALEF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period - The Edge-Lipper Malaysia Fund Awards 2017 : 10.1
high
by investing mainly in stocks of companies with market • Best Equity Asia Pacific Ex-Japan - Malaysia Islamic, 3 years Lipper Analytics
Fund Return (2) (%) -9.60 8.33 6.51 5.96 15.10 3.38
5%
Total Returns
Taiwan
10.76%
-5% Korea
Aug-16 Oct-16 Dec-16 Feb-17 Mar-17 8.01% Malaysia
56.43%
Benchmark: Benchmark for PIOEF is a composite of 50% customised index by S&P
Dow Jones Indices, LLC based on Top 100 constituents by full market Hong Kong
0.88%
capitalisation of the S&P Shariah BMI Asia Ex-Japan Index, 40%
FTSE Bursa Malaysia Hijrah Shariah Index and 10% 3-Month Islamic
Indonesia
Interbank Money Market (IIMM) rate.
0.54%
Underlying index data are sourced from S&P Dow Jones Indices, LLC,
Lipper and Bank Negara Malaysia and expressed in Ringgit terms.
* Commencement Date - 15 August 2016
26
PUBLIC ISLAMIC GROWTH BALANCED FUND (PIGRBF)
Fund Objective
To achieve capital growth over the medium to long-term period through a balanced asset allocation approach.
4% Distribution History
Financial Year Distribution (1) Declaration Distribution
(Sen) Date Yield (%)
0%
2016 0.25 31.10.16 1.0
Note: Distribution yield simply measures the level of distributions and is not a measure
-4%
Oct-15 Mar-16 Jul-16 Nov-16 Mar-17 of fund performance.
Benchmark: Benchmark for PIGRBF is a composite of 60% FTSE Bursa Malaysia
Hijrah Shariah Index and 40% 3-Month Islamic Interbank Money
Market (IIMM) rate.
Underlying index data are sourced from Lipper and Bank Negara
Malaysia.
* Commencement Date - 27 October 2015
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah 5.5
low
requirements. Lipper Analytics
15 Mar 17
12%
Distribution History
6% Financial Year Distribution (4) Declaration Distribution
(Sen) Date Yield (%)
0%
2007 2.25 30.11.07 7.5
Fund Return (4) (%) 22.93 -28.18 26.14 10.10 0.12 2.47(2) 8.14 8.84 -0.90 3.10 -4.85
(3) (2)
Benchmark (%) 26.54 -27.54 25.34 11.82 -0.07 3.43 9.26 10.27 -1.84 2.90 -3.28
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 5.5 and is classified as “Low” (source : Lipper).
(2)
The figure shown is for period since PIMXAF commencement date - 12 December 2011.
(3)
Prior to 12 December 2011, the benchmark for PIBF is a composite of 60% the returns of the KLSI and 40% the returns on 3-Month Islamic Interbank Money Market (IIMM) rate.
Effective from 1 November 2007 Bursa Securities replaced KLSI with FTSE Bursa Malaysia EMAS Shariah Index. The Index is an appropriate performance benchmark for balanced fund.
(4)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
28
PUBLIC EHSAN MIXED ASSET CONSERVATIVE FUND (PESMACF)
Fund Objective
To provide income and achieve capital growth over the medium to long-term period primarily through a portfolio allocation across sukuk
and Shariah-compliant equities.
Top 5 Sectors:
Performance of Public Ehsan Mixed Asset Conservative Fund Communications 6.34%
vs its Benchmark Index Over the Following Periods Ended Utilities 5.38%
Industrial 5.17%
31 March 2017
Diversified 4.04%
PESMACF Benchmark PESMACF Benchmark Consumer, Non-cyclical 2.83%
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return Total Assets by Country as at 31 March 2017
1-year 3.02 2.58 3.02 2.58
Since
8.34 6.02 3.55 2.58
Commencement
Malaysia
Performances of PESMACF and Benchmark Index 100.00%
(Since Fund Commencement* to 31 March 2017)
9%
PESMACF Benchmark
6%
Distribution History
Total Returns
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
29
PUBLIC EHSAN MIXED ASSET GROWTH FUND (PESMAGF)
Fund Objective
To achieve capital growth over the medium to long-term period primarily through a portfolio allocation across Shariah-compliant equities
and sukuk.
Performance of Public Ehsan Mixed Asset Growth Fund vs its Top 5 Sectors:
Benchmark Index Over the Following Periods Ended Consumer, Non-cyclical 18.91%
Communications 14.80%
31 March 2017 Consumer, Cyclical 10.39%
PESMAGF Benchmark PESMAGF Benchmark Industrial 9.29%
(%) (%) (%) (%) Technology 6.06%
Total Total Annualised Annualised
Return Return Return Return
1-year 8.37 1.64 8.37 1.64 Total Assets by Country as at 31 March 2017
Since
24.46 3.29 10.01 1.42 Taiwan
Commencement
1.47%
China
1.27%
Performances of PESMAGF and Benchmark Index Malaysia
(Since Fund Commencement* to 31 March 2017) Singapore 96.77%
0.28%
30%
PESMAGF Benchmark Hong Kong
0.21%
20%
Total Returns
-10%
Note: Distribution yield simply measures the level of distributions and is not a measure
Dec-14 Jul-15 Feb-16 Sep-16 Mar-17 of fund performance.
Benchmark: Benchmark for PESMAGF is a composite of 70% FTSE Bursa Malaysia Hijrah
Shariah Index and 30% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
* Commencement Date - 15 December 2014
30
PUBLIC ISLAMIC ASIA TACTICAL ALLOCATION FUND (PIATAF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period - The Edge-Lipper Malaysia Fund Awards 2017 : 9.0
high
by investing in a portfolio of investments in domestic and regional • Best Mixed Asset MYR Flexible - Malaysia Islamic, 3 years Lipper Analytics
15 Mar 17
Singapore Thailand
1.94% 1.57%
30%
15%
Distribution History
0% Financial Year Distribution (4) Declaration Distribution
(Sen) Date Yield (%)
-15%
Dec-11 Apr-13 Aug-14 Nov-15 Mar-17 2010 0.75 29.10.10 3.3
Benchmark: Benchmark for PIATAF is a composite of 70% S&P Shariah BMI Asia Ex-
Note: Distribution yield simply measures the level of distributions and is not a measure
Japan Index and 30% 3-Month Islamic Interbank Money Market (IIMM)
rate (w.e.f. 12 December 2011). of fund performance.
Underlying index data are sourced from S&P Dow Jones Indices, LLC and
Bank Negara Malaysia and expressed in Ringgit terms.
* Note: Upon the issuance of supplementary prospectus on 12 December 2011,
Public Islamic Asia Balanced Fund (PIABF) has adopted its new name Public
Islamic Asia Tactical Allocation Fund (PIATAF) to reflect the change in fund
objective, investment policy, investment strategy and benchmark.
Top 5 Holdings as at 31 March 2017
Security Name
Tencent Holdings Limited
Taiwan Semiconductor Manufacturing Company Limited
China Mobile Limited
LARGAN Precision Company Limited
TIME dotCom Berhad
Annual Returns for Calendar Years Ended 31 December
2011
Calendar Year 2008 2009 2010 2012 2013 2014 2015 2016
30/12/2010-9/12/2011 12/12/2011-30/12/2011
Fund Return (4) (%) -30.73 30.36 2.08 -8.70 1.05(2) 13.58 6.56 5.06 14.57 2.69
Benchmark (3) (%) -32.05 37.54 4.23 -6.33 0.59(2) 10.80 7.91 7.01 12.62 5.60
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 9.0 and is classified as “High” (source : Lipper).
(2)
The figure shown is for period since PIATAF commencement date - 12 December 2011.
(3)
Prior to 12 December 2011, the benchmark for PIABF is a composite of 60% Dow Jones Islamic Market Asia Ex-Japan IndexSM (prior to 1 January 2009), 60% S&P Shariah BMI Asia
Ex-Japan Index (w.e.f. 1 January 2009) and 40% 3-Month Islamic Interbank Money Market (IIMM) rate.
(4)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
31
PUBLIC ISLAMIC BOND FUND (PI BOND)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investment in Islamic debt securities. 1.7
very low
Lipper Analytics
15 Mar 17
80%
2009 4.00 30.10.09 3.9
40% 2010 5.00 29.10.10 4.7
Note: Distribution yield simply measures the level of distributions and is not a measure
of fund performance.
Fund Return (2) (%) 3.32 3.90 9.95 6.95 7.64 3.88 3.84 3.44 4.13 5.65
Benchmark (%) 3.72 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 1.7 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
32
PUBLIC ISLAMIC ENHANCED BOND FUND (PIEBF)
Fund Objective 3-year
(1)
Fund Volatility
Seeks to provide a combination of annual income and modest capital growth primarily through a portfolio allocation across Islamic 1.5
very low
debt securities and equities which comply with Shariah requirements. Lipper Analytics
15 Mar 17
Benchmark (%) 3.72 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 1.5 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
33
PUBLIC ISLAMIC SELECT BOND FUND (PISBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income through investments in Islamic debt securities which have remaining maturities of 7 years and below and 1.0
very low
Islamic money market instruments. Lipper Analytics
15 Mar 17
Benchmark (%) 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 1.0 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
34
PUBLIC ISLAMIC INCOME FUND (PI INCOME)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income over the medium to long-term period by investing in sukuk and Islamic money market instruments. 1.0
very low
Lipper Analytics
15 Mar 17
Fund Return (2) (%) 7.18 4.75 5.47 2.70 3.64 3.19 3.56 3.86
Benchmark (%) 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 1.0 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
35
PUBLIC ISLAMIC INFRASTRUCTURE BOND FUND (PIINFBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investments in sukuk of companies in the infrastructure sector. 1.8
low
Lipper Analytics
15 Mar 17
18%
2013 4.25 29.11.13 4.2
Note: Distribution yield simply measures the level of distributions and is not a measure
-9% of fund performance.
Dec-10 Jul-12 Jan-14 Aug-15 Mar-17
Fund Return (2) (%) 6.02 2.80 4.37 3.72 3.91 5.29
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 1.8 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
36
PUBLIC ISLAMIC STRATEGIC BOND FUND (PISTBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investments in sukuk and Islamic money market instruments. 1.5
very low
Lipper Analytics
15 Mar 17
16%
2013 3.50 31.12.13 3.4
-8% Note: Distribution yield simply measures the level of distributions and is not a measure
Dec-10 Jul-12 Feb-14 Sep-15 Mar-17 of fund performance.
Source: Bank Negara Malaysia
* Commencement Date - 30 December 2010
To provide annual income through investments in sukuk and Islamic money market instruments. 2.0
low
Lipper Analytics
15 Mar 17
Note: Distribution yield simply measures the level of distributions and is not a measure
-10% of fund performance.
Aug-11 Jan-13 Jun-14 Oct-15 Mar-17
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 2.0 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
38
PUBLIC ISLAMIC MONEY MARKET FUND (PIMMF)
Fund Objective 3-year
(1)
Fund Volatility
To provide liquidity and current income, while maintaining capital stability by investing in instruments that comply with Shariah 0.1
very low
requirements. Lipper Analytics
15 Mar 17
Distribution History
Performances of PIMMF and Benchmark Index
Financial Year Distribution (2) Declaration Distribution
(Since Fund Commencement* to 31 March 2017)
40% (Sen) Date Yield (%)
20%
2011 2.50 30.6.11 2.5
10% 2012 2.50 29.6.12 2.5
Fund Return (2) (%) 3.09 1.99 2.24 2.80 2.97 2.91 3.06 3.38 3.15
Benchmark (%) 3.60 2.29 2.51 3.13 3.11 2.87 2.76 2.85 2.83
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2017, the Volatility Factor (VF) for this fund is 0.1 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
39
PUBLIC e-ISLAMIC CASH DEPOSIT FUND (PeICDF)
Fund Objective
To provide liquidity and income while maintaining capital stability.
Malaysia
100.00%
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
40
Name of Funds by Alphabetical Order Page No. Name of Funds by Financial Year End Financial Year End Page No.
Public Asia Ittikal Fund 22 Public Islamic Emerging Opportunities Fund 31 January 21
Public China Ittikal Fund 24 Public Islamic Optimal Growth Fund 31 January 12
Public Ehsan Mixed Asset Conservative Fund 29 Public Islamic Optimal Equity Fund 28 February 26
Public Ehsan Mixed Asset Growth Fund 30 Public e-Islamic Cash Deposit Fund 31 March 40
Public e-Islamic Cash Deposit Fund 40 Public Ehsan Mixed Asset Conservative Fund 30 April 29
Public Islamic Advantage Growth Equity Fund 20 Public Ehsan Mixed Asset Growth Fund 30 April 30
Public Islamic Alpha-40 Growth Fund 14 Public Islamic Asia Dividend Fund 30 April 23
Public Islamic Asia Dividend Fund 23 Public Islamic Dividend Fund 30 April 9
Public Islamic Asia Leaders Equity Fund 25 Public Islamic Equity Fund 31 May 7
Public Islamic Asia Tactical Allocation Fund 31 Public Islamic Select Treasures Fund 31 May 11
Public Islamic Bond Fund 32 Public Ittikal Fund 31 May 6
Public Islamic Dividend Fund 9 Public Islamic Money Market Fund 30 June 39
Public Islamic Emerging Opportunities Fund 21 Public Islamic Income Fund 31 July 35
Public Islamic Enhanced Bond Fund 33 Public Islamic Opportunities Fund 31 July 8
Public Islamic Enterprises Equity Fund 19 Public Islamic Select Bond Fund 31 July 34
Public Islamic Equity Fund 7 Public Islamic Select Enterprises Fund 31 July 13
Public Islamic Growth & Income Fund 18 Public Islamic Treasures Growth Fund 31 August 15
Public Islamic Growth Balanced Fund 27 Public Sukuk Fund 31 August 38
Public Islamic Income Fund 35 Public Islamic Advantage Growth Equity Fund 30 September 20
Public Islamic Infrastructure Bond Fund 36 Public Islamic Enterprises Equity Fund 30 September 19
Public Islamic Mixed Asset Fund 28 Public Asia Ittikal Fund 31 October 22
Public Islamic Money Market Fund 39 Public Islamic Asia Tactical Allocation Fund 31 October 31
Public Islamic Opportunities Fund 8 Public Islamic Bond Fund 31 October 32
Public Islamic Optimal Equity Fund 26 Public Islamic Growth Balanced Fund 31 October 27
Public Islamic Optimal Growth Fund 12 Public China Ittikal Fund 30 November 24
Public Islamic Savings Fund 17 Public Islamic Alpha-40 Growth Fund 30 November 14
Public Islamic Sector Select Fund 10 Public Islamic Asia Leaders Equity Fund 30 November 25
Public Islamic Select Bond Fund 34 Public Islamic Infrastructure Bond Fund 30 November 36
Public Islamic Select Enterprises Fund 13 Public Islamic Mixed Asset Fund 30 November 28
Public Islamic Select Treasures Fund 11 Public Islamic Sector Select Fund 30 November 10
Public Islamic Strategic Bond Fund 37 Public Ittikal Sequel Fund 30 November 16
Public Islamic Treasures Growth Fund 15 Public Islamic Enhanced Bond Fund 31 December 33
Public Ittikal Fund 6 Public Islamic Growth & Income Fund 31 December 18
Public Ittikal Sequel Fund 16 Public Islamic Savings Fund 31 December 17
Public Sukuk Fund 38 Public Islamic Strategic Bond Fund 31 December 37
A copy of the Master Prospectus of Public Series of Shariah-Based Funds dated 30 April 2016 and expires on 29 April 2017, Prospectus
of Public Islamic Optimal Equity Fund dated 26 July 2016 and expires on 29 April 2017 and Prospectus of Public e-Islamic Cash Deposit
Fund dated 9 March 2017 have been registered by, and lodged with, the Securities Commission Malaysia (SC), which shall not be
interpreted to mean that the SC recommends the investment.
The SC shall not be liable for any non-disclosure on the part of the management company and takes no responsibility for the contents
of the Prospectuses, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or any part of the contents of the Prospectuses.
Investors are advised to read and understand the contents of the above Prospectuses. If in doubt, please consult a professional adviser.
You have the right to request for a copy of the Product Highlights Sheet of the fund(s). You are advised to read and understand the
contents of the relevant fund’s Product Highlights Sheet before making any investment decision.
Applications by investors to purchase units of the funds must come in the form of a duly completed application form referred to and
accompanying the (relevant) Prospectuses.
Investors should note that there are fees, charges and risks involved in investing in unit trust funds. Therefore, you should consider
carefully the fees, charges and risks before making an investment decision. Please refer to the Prospectuses for more information.
Unit prices and distributions payable, if any, may go down as well as up.
Past performance of the funds should not be taken as an indication of future performance. Neither the Manager nor the Trustee
guarantees the performance of any of the funds or the repayment of capital.
The funds’ past distribution is not a guarantee of future distributions. Where unit split or distribution is declared, investors are advised
that following the issue of additional units and/or distribution, the net asset value per unit will be reduced accordingly to reflect/
account for the unit split and/or distribution.
Where a unit split is declared, investors should note that the value of their investment in Ringgit Malaysia terms will remain unchanged
after the distribution of additional units.
While it is the Manager’s policy to discourage loan financing in the purchase of units, nevertheless, this facility is available to interested
investors. However, YOU are advised to read and understand the contents of the unit trust loan financing risk disclosure statement
before deciding to borrow to purchase units.
Where a free copy of Prospectus and Product Highlights Sheet can be obtained: Unit Trust Consultants (UTCs) of Public Mutual or
contact Public Mutual Hotline: 03-6207 5000 for assistance.
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Lipper Leaders :
Total Return
Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers.
Consistent Return
Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns, adjusted for volatility, relative to peers.
Preservation
Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than
absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity
funds than fixed income funds.
The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return and
Preservation metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the next
20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.
Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information.
Lipper Leaders (overall) - All Ratings as of 31 March 2017 - Ratings for Total Return reflect funds’ historical total return performance relative to peers. Ratings for
Consistent Return reflect funds’ historical risk-adjusted returns relative to peers. Lipper ratings for Preservation are relative, rather than absolute. Lipper Leader ratings
DO NOT take into account the effects of sales charges. Ratings are based on an equal-weighted average of percentile ranks for each measure over overall period.
More information is available at www.lipperweb.com.
Morningstar RatingTM
The Morningstar RatingTM is a quantitative assessment of a fund’s past performance, incorporating fee, return and risk, measured from one to five stars. It uses focused
comparison groups - the Morningstar Categories - to measure the fund’s risk-adjusted performance and it places stronger emphasis on downside variations. The Top
10% of funds in a category will receive five stars, the next 22.5% will receive four stars, the middle 35% will receive three stars, the next 22.5% will receive two stars
and the bottom 10% will receive one star.
© 2017 Morningstar Asia Limited All Rights Reserved. The information contained herein:
• is proprietary to Morningstar;
• may not be copied (save (i) as incidentally necessary in the course of viewing it online, and (ii) in the course of printing off single copies of web pages on which it
appears for the personal non-commercial use of those authorised to view it on-line), adapted or distributed; and
• is not warranted to be accurate, complete or timely.
This Morningstar-sourced information is provided to you by Public Mutual Berhad and is at your own risk. You agree that Morningstar is not responsible for any damages
or losses arising from any use of this information and that the information must not be relied upon by you the user without appropriate verification. Public Mutual
Berhad informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional
financial advisor; (ii) past performances is no guarantee of future results; and (iii) the value and income derived from investments can go down as well as up.
The P ITTIKAL, PIEF, PIOF, PIDF, PAIF, PIADF, PISSF, PCIF, PISTF, PIOGF, PISEF, PIA40GF, PITGF, PITSEQ, PISVF, PIMXAF, PISGIF, PIENTEF, PESMACF, PESMAGF, PIAVGEF, PIGRBF,
PIEMOF and PIOEF are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited (“FTSE”) or by Bursa Malaysia Berhad (“BURSA MALAYSIA”)
or by the London Stock Exchange Group companies (the “LSEG”) and neither FTSE nor BURSA MALAYSIA nor LSEG makes any warranty or representation whatsoever,
expressly or impliedly, either as to the results to be obtained from the use of the FTSE BURSA MALAYSIA EMAS SHARIAH INDEX, FTSE BURSA MALAYSIA SMALL CAP
SHARIAH INDEX, FTSE BURSA MALAYSIA HIJRAH SHARIAH INDEX and the customised index by FTSE based on the constituents with market capitalisation below RM6.0
billion within the FTSE BURSA MALAYSIA EMAS SHARIAH INDEX (“the Indices”), and/or the figure at which the said Indices stand at any particular time on any particular
day or otherwise. The Indices are compiled and calculated by FTSE. However, neither FTSE nor BURSA MALAYSIA nor LSEG shall be liable (whether in negligence or
otherwise) to any person for any error in the Indices and neither FTSE nor BURSA MALAYSIA nor LSEG shall be under any obligation to advise any person of any error
therein.
“FTSE®”, “FT-SE®” and “Footsie®” are trade marks of LSEG and are used by FTSE under licence. “BURSA MALAYSIA” is a trade mark of BURSA MALAYSIA.
The S&P Shariah BMI Asia Ex-Japan Index, S&P Shariah BMI Hong Kong and China ‘H’ Shares Index, S&P Shariah BMI Taiwan Index, the customised benchmark index
for PAIF, the customised benchmark index for PIALEF, the customised benchmark index for PIA40GF, the customised benchmark index for PIENTEF and the customised
benchmark index for PIOEF are products of S&P Dow Jones Indices LLC (“SPDJI”), and have been licensed for use by Public Mutual Berhad. Standard & Poor’s® and S&P®
are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow
Jones”); Standard & Poor’s®, S&P® and Dow Jones® are trademarks of the SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain
purposes by Public Mutual Berhad. Public Mutual Berhad’s PAIF, PIADF, PCIF, PIALEF, PIA40GF, PIENTEF, PIATAF and PIOEF are not sponsored, endorsed, sold or promoted
by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do
they have any liability for any errors, omissions, or interruptions of the S&P Shariah BMI Asia Ex-Japan Index, S&P Shariah BMI Hong Kong and China ‘H’ Shares Index,
S&P Shariah BMI Taiwan Index, the customised benchmark index for PAIF, the customised benchmark index for PIALEF, the customised benchmark index for PIA40GF,
the customised benchmark index for PIENTEF and the customised benchmark index for PIOEF.
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Notes : • The total return is the overall return of the fund over the period.
• The annualised return is the compounded annual rate of return of the fund over the specified period.
• Fund performance should be evaluated against the benchmark index.
• The performances of funds are calculated on NAV-to-NAV basis and sourced from Lipper.
• Commencement date is the last day of the initial offer period.
• The distribution yields of funds are computed by dividing gross distribution for the financial year/period over the Ex-NAV per unit and it is not directly
comparable with fixed deposit rate. The distribution yields for the financial year/period prior to 1 July 2007 was computed by dividing gross distribution
for the financial year/period over average selling price. These distribution yields have been adjusted by dividing gross distribution over the Ex-NAV per
unit for purpose of comparability in presentation.
• The asset allocation presented have been verified by the Trustees.
• The stocks invested by the fund are classified according to various criteria which include the country classification assigned by international index
providers and the company’s main business interest in terms of geographical segmentation.
For more information, please contact any of our authorised UTCs, agency offices, branches Public Mutual Berhad (23419-A)
or call Public Mutual Hotline at 03-6207 5000 or visit us at our website at http://www.publicmutual.com.my Block B, Sri Damansara Business Park, Persiaran Industri,
Bandar Sri Damansara, 52200 Kuala Lumpur, Malaysia.
Tel : 03-6279 6800 Fax : 03-6277 9800
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