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RBANK BALANCED FUND (UITF) Fund Performance Report for the 2nd Quarter 2012 As of June 30, 2012

Product Description and Customer Suitability

The RBank Balanced Fund is a peso-denominated unit investment trust fund (UITF) that is invested in both fixed-income securities and equities and is an investment alternative for clients looking for better returns than traditional bank deposits over a medium to long-term investment horizon. Its investment portfolio consists of deposits, government bonds, prime corporate bonds and listed equities. Minimum initial placement and maintaining balance is Php 50,000.00 while minimum additional placements are accepted at Php 10,000.00. Minimum holding period is 90 calendar days. In case of withdrawal prior to 90 days, early redemption fee of 0.50% of redemption amount or Php 500 (whichever higher) will be charged. As a UITF, the funds assets are subject to daily mark-to-market valuation and as such, clients returns are not guaranteed. Clients should be willing to take the attendant risks inherent in medium to long-term tradable fixedincome investments and listed equities. The Funds performance is benchmarked against 50% PSE index and 50% average 91 day Tbill rate. Total assets as of end March stood at over Php 17 Million. Top Bond Holdings as of 2nd Qtr 2012
% of fund BSP-SDA FXTN RTB 5-10 SSA Meralco shares MWC shares SMPH shares URC shares EDC shares 48% 3% 29% Maturity < 30 days 1/27/2014 3/3/2016

3% 4% 1% 4% 1%

Fund Managers Report 2nd Quarter 2012 Market Wrap The PSE index ended on a positive note at 5,256 for end June, registering a 20% year-to-date return for the stock market. Investors returned to the equities market as local macroeconomic fundamentals remained positive. The government announced the launch of additional PPP rollouts and the country earned ratings and outlook upgrades from S& P and Moodys. Market corrections remained throughout the quarter, with news from the continuing Euro financial crisis and little progress on the US front, however, the Phil. markets remained resilient. For the bond market, yields remained low and more corporate issuers took advantage to issue new bonds with the substantial liquidity.

Fund Performance / Historical Yields

123.75 123.50 123.25 123.00 122.75 122.50 122.25 122.00 121.75

. 7.. . 1.. . 2.. . 2.. . 4.. . 1.. . 1.. . 2.. . . . . 1.. . 2.. 2.. 9.. 3..

The Balanced Fund posted a year-on-year net ROI of 4.23% and an absolute year-to-date net ROI of 3.16% with NAVPU of P123.113236 as of June 30, 2012. It under performed its benchmark of 10.27%.

Disclosure of Fund expenses for the 2nd Quarter, 2012 per BSP regulation:
Trustee Fees 79,047.87 22,437.17

Year-on-Year ROI Year-to-date ROI * Yield since inception

Absolute Yield net of tax & fees 4.23 % 3.16 % 23.11 %

NAVPU (Php) 123.113236 119.337842 100.000000

RG Outsourcing Fees Date 06-30-2012 12-31-2011 03-28-2008

Deutsche custody fees 1,603.44 119.337842 Note: From Apr-June 2012 only ; annual trust fee is 1.5% per annum based on net assets.

*absolute ROI means the incremental % change in NAVPU based on term indicated. PORTFOLIO MIX:

UITF Participation/ Redemption Conditions:

1. Admissions/ redemptions accepted on or before the cutoff trading of 11:30AM to be considered as transactions for the day; otherwise, the same shall be considered as next day transactions. Admissions/ redemptions shall be based on the prevailing market value of underlying investments of the UITF at date of transaction, in accordance with existing BSP rules and regulations on marking-to-market valuation of investment instruments. Redemption proceeds shall be paid out of the UITF one (1) day after transaction date. Regular or early redemption will require the signing of the Notice of Redemption provided in the Certificate of Participation, which should be duly surrendered to the maintaining branch at time of withdrawal. Only full redemption per Certificate of Participation shall be allowed.


Other assets 2% Deposits 4%

Net equities 13%

Govt Bonds 33%

3. 4.



The UITF is NOT a deposit and not insured by PDIC. Due to the nature of the investments, yield and potential yields cannot be guaranteed. Any income or loss arising from market fluctuations and price volatility of the securities held by the UITF, even if invested in government securities, is for the account of the Investor. As such, units of participation of the investor in the UITF, when redeemed, may be worth more or be worth less than his/her initial investment/contributions. Historical performance, when presented, is purely for reference purposes and is not a guarantee of future results. The Trustee is not liable for losses, unless upon willful default, bad faith or gross negligence.