CIMB Islamic DALI Asia Pacific Equity Growth

Fund
3-year
Fund Volatlity

31 July 2019
10.0 High
Lipper Analytcs
15 Jul 2019

Fund Objective Fund Performance

To provide investors with long-term
250%
capital growth by investing principally in
equities. The Fund also seeks to
200%
outperform the benchmark.

Currency: ISIN Code: 150%

MYR MYU1000BD009
Bloomberg Ticker: 100%
SBBIKLS MK
50%
Fund Information

Location Malaysia 0%
D 5
5

Fe 6
S 7

A 7
N 8

Ju 8

Ja 9
A 0

A 0
N 1

Ju 1

Ja 2
Au 3

M 3

O 4
M 14

D 5
5

M 6

O 7
M 17

D 8

Ju 8
9
-0

-0
l- 0

0
-0

-0

-0

1
-1

-1

-1

1
-1

-1

-1
l- 1

-1

-1

-1
l- 1
b-

n-

n-

n-

n-

g-

-
ct

ct
ay

ec

ov

ov

ay

ec

ay

ec
pr

pr

ar

ar
ep

ug
Domicile Malaysia
Ju

Ju
M

- 50%
Fund Currency Ringgit Malaysia
Fund Benchmark
Fund Size MYR 1.70 billion
(MYR) Past performance does not guarantee future results. Asset allocation and diversification do not ensure a profit or protect against a loss.
Fund Unit 1.88 billion units
Cumulative Performance (%)
Fund Launch 10 August 2004
Since
Benchmark YTD 1 Month 3 Months 6 Months 1-Year 3-Year 5-Year Inception
30% FTSE Bursa
Malaysia EMAS Shariah Fund 9.02 -1.48 -0.94 3.76 -3.29 12.31 21.01 207.16
Index + 70% MSCI AC Benchmark 6.11 -2.99 -4.28 -0.86 -7.24 14.36 16.42 142.10
Asia ex Japan Islamic
Index Calendar Year Returns (%) 2018 2017 2016 2015 2014 2013
Dealing Daily (as per Bursa Fund -15.58 20.73 -1.10 9.99 3.54 13.48
Malaysia trading day) Benchmark -16.12 24.23 3.08 5.07 1.66 10.22
Application Fee IUTAs: 6.50% of the NAV
per unit 2017 2016 2015 2014 2012 2012
Most Recent Fund Distributions Sep Sep Oct Nov Nov Mar
CWA: 6.50% of the NAV
per unit Gross (Sen/Unit) 2.00 1.00 5.40 5.35 4.60 4.50

Management 1.50% p.a. of the NAV Annualised Yield (%) 2.37 1.17 6.34 6.04 5.92 6.03
Fee Note: August 2004 to July 2019.
Performance data represents the combined income & capital return as a result of holding units in the fund for the specified length of time,
Trustee Fee 0.06% p.a. of the NAV based on bid to bid prices. Earnings are assumed to be reinvested.
Annualised yield is calculated as the most recent monthly dividend distribution multiplied by the Fund’s dividend frequency and divided by
Unit NAV (MYR) MYR 0.9052 the latest NAV.
Source : Lipper

Top 10 Holdings Fund Risk Statistics

% of net Beta
Country assets
0.83
Alibaba Group Holding Ltd Cayman Islands 6.80
Samsung Electronics Co. Ltd South Korea 6.28 Information Ratio
Tenaga Nasional Bhd Malaysia 2.85 -0.24
Link REIT Hong Kong 2.74
Sharpe Ratio
China Mobile Ltd Hong Kong 2.65
0.08
CapitaLand Mall Trust Singapore 2.60
3 years monthly data
Samsung Electronics-PFD South Korea 2.34
Cleanaway Waste Management Ltd Australia 2.24
Telekomunikasi TBK PT Indonesia 2.10
CapitaLand Commercial Trust Singapore 1.98
The holdings listed do no constitute a recommendation to purchase or sell a particular security. Cash
and/or derivative positions that are not part of the core investment strategy will not be reflected in the
top holdings list.
CIMB Islamic DALI Asia Pacific Equity Growth Fund As of 31 July 2019
Asset Allocation (%) Sector Allocation (%) Regional Allocation (%)

Cash 7.76 Cash 7.76

Financials 0.43
Thailand 2.60
Cash 7.76
Mutual Fund 0.56
Taiw an 3.00

Health Care 2.93

Australia 3.34
Utilities 5.70
Mutual Fund 0.56 Indonesia 4.65
Materials 6.16
India 5.18
Energy 7.13
China 5.35
Shariah-compliant Consumer Staples 7.24
25.28
Equities (Local)
Communication Cayman Islands 6.80
11.35
Services
Singapore 8.57
Real Estate 11.54
Shariah-compliant
Equities 66.40 Consumer South Korea 12.64
11.94
Discretionary
(Foreign)
Industrials 12.82 Hong Kong 14.83

Information Malaysia 25.28

Technology 14.44

0 10 20 30 40 50 60 70
0 5 10 15 0 5 10 15 20 25 30
Fund
Fund Fund

Source: Factset. Fund holdings and allocations shown are unaudited and may not be representative of current or future investments. Percentages may not add up to 100% due to rounding and/or
inclusion or exclusion of cash will not be reflected in the top holdings list.

Fund Manager's Report

In July, the Fund declined 1.5% in MYR terms, outperforming the Benchmark by 151 basis points (bps). Consumer goods and
Industrials contributed to the outperformance while Consumer Services was a detractor. In terms of stock selection, TSMC,
Pentamaster and Tencent contributed positively while CIMIC detracted from performance. Year-to-date, the Fund rose by 9.0%,
outperforming the Benchmark by 291 bps.

Despite the recent resumption of trade talks, US surprised investors early August by announcing it would place a 10% tariff on
US$300bn of additional Chinese goods, which will take place on Sept 1, suggesting that negotiations between US-China have not
gone smoothly. The PBOC had allowed the Renminbi to depreciate with US subsequently labeling China as a currency manipulator. In
Hong Kong, protests have snowballed into various demands including democratic reforms and independent inquiry into police
brutality.

We have started to take profits on selected stocks with lofty valuations and de-risked our Hong Kong and China exposure. Our Fund
remains barbelled and focused on capital preservation in the current environment. We would be judicious to deploy cash to quality
stocks should the opportunity arise on market correction. For Malaysia, we will continue with our stock picking and rotational strategy
where we will add growth companies with yield support. Our preference is for selective growth stocks in the utilities, basic material,
auto, oil and gas, and construction sectors. We remain cautious on the technology (which is vulnerable to re-escalation of US-China
trade war) and plantation (as muted CPO prices could potentially lead to downward earnings revision) sectors.

^Based on the fund's portfolio returns as at 15 July 2019, the Volatility Factor (VF) for this fund is 10.000 and is classified as "High" (source: Lipper). "High" includes funds
with VF that are above 8.845 but not more than 11.185. The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The
Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The
fund's portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds
launched in the market for at least 36 months will display the VF and its VC.

We recommend that you read and understand the contents of the Master Prospectus (Shariah-Compliant Funds) Issue No. 10 dated 30 June 2017, which has been duly
registered with the Securities Commission Malaysia, before investing and that you keep the said Master Prospectus (Shariah-Compliant Funds) for your records. Any issue of
units to which the Master Prospectus (Shariah-Compliant Funds) relates will only be made upon receipt of the completed application form referred to in and accompanying the
Master Prospectus (Shariah-Compliant Funds), subject to the terms and conditions therein. Investments in the Fund are exposed to country risk, currency risk, risk of
investing in emerging markets, risks associated with investment in warrants and stock specific risk. You can obtain a copy of the Master Prospectus (Shariah-Compliant
Funds) from the head office of Principal Asset Management Berhad (formerly known as CIMB-Principal Asset Management Berhad) or from any of our approved distributors .
Product Highlight Sheet ("PHS") is available and that investors have the right to request for a PHS; and the PHS and any other product disclosure document should be read
and understood before making any investment decision. There are fees and charges involved in investing in the funds. We suggest that you consider these fees and charges
carefully prior to making an investment. Unit prices and income distributions, if any, may fall or rise. Past performance is not reflective of future performance and income
distributions are not guaranteed. You are also advised to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure Statement before
deciding to obtain financing to purchase units. Where a unit split /distribution is declared, you are advised that following the issue of additional units /distribution, the NAV per
unit will be reduced from pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is declared, the value of your investment in
Malaysian ringgit will remain unchanged after the distribution of the additional units.

Carefully consider a fund's objective, risks, charges and expenses.

Visit www.principal.com.my for a prospectus containing this and other information. Please read it carefully before investing.

Principal Asset Management Berhad

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