Quarterly Fundamentals - July 2013 PDF

Content
CEOs Message
3
Capturing the
Opportunities of Asias
Urbanisation
4-5
Model Portfolio:
Second Quarter 2013
6-7
Fund
Factsheets
AIIMAN Growth Fund
AIIMAN Income Plus Fund
AIIMAN Select Income Fund
AUD Income Fund (AUD Class)
AUD Income Fund (RM Class)
Absolute Return Fund II
Asia Pacific (ex-Japan) Infrastructure Fund
China Select Fund
Enhanced Deposit Fund
Fixed Maturity Income Fund III
Fixed Maturity Income Fund IV
Fixed Maturity Income Fund V
Fixed Maturity Income Fund VI
Fixed Maturity Income Fund VII
Global Commodity Fund
25
27
26
18
19
31
15
28
24
33
33
34
34
35
29
Global Financial Institutions Fund
SGD Income Fund (RM Class)
SGD Income Fund (SGD Class)
Select Asia (ex-Japan) Opportunity Fund
Select Asia (ex-Japan) Quantum Fund
Select Balanced Fund
Select Bond Fund
Select Dividend Fund
Select Income Fund
Select Opportunity Fund
Structured Income Fund V
Structured Income Fund VI
Tactical Opportunity Capital Protected Fund
US Access 80 Fund
30
20
21
13
12
17
23
16
22
14
36
36
37
32
HwangIMs
Recommended Funds
8
Market Update:
Quarterly Review and
Outlook
9-11
Fund Risk Profile
38
Greetings from Hwang Investment Management Berhad!
At the advent of the selloff our fund managers
swiftly raised cash levels of most equity funds to
the region of 20%-30% to protect the capital of
the portfolios. Most equity portfolios have given
up part of the gains achieved but are still in
comfortable positive territories year-to-date.
Income and bond funds encountered similar
market forces and were also cashed up to
prevent erosion of capital. We are not rushing
back into the markets though most markets,
equity and fixed-income, both have recovered
from the recent lows. Key indicators to watch are
direction of US treasury yields and policy
statements from the US Federal Reserves.
The recent portfolio actions are good examples
of how HwangIMs funds are managed on an
absolute return basis to deliver positive returns to
our customers over the medium to long-term. We
will be true to our investment philosophy
especially in times of increased volatility to
remain nimble.
Thank you for placing your trust in us.
Best Wishes,
Teng Chee Wai
Chief Executive Officer & Executive Director
03
CEOS
MESSAGE

In the second quarter of this year, the
performance of global equity looked set to defy
the conventional wisdom of sell in May and go
away. This is supported by the recovering US
headline economic numbers, especially those
from the housing sectors and Japans Prime
Minister Shinzo Abes, ultra-loose monetary
policies. The rally in global equity came to an
abrupt end in the last week of May when
Federal Reserves chairman Ben Bernanke
hinted that the Quantitative Easing (QE) would
be tapered off in 2014, one year earlier than
previously announced. That sparked off major
corrections in equities and fixed income
instruments across the globe. With the
possibility of tighter monetary policies next year,
the US 10-year treasury yield jumped from
below 2% to a high of 2.6%, driving down bond
prices across all maturities and credits. The
darling of 2013, Real Estate Investment Trusts
(REITs) met with heavy profit-taking as market
participants expected higher funding costs to
chip away REITs rental returns.
Perceived as the medium to preserve value in
the current extremely loose monetary conditions
worldwide, gold collapsed and suffered a single-
day drop of USD300 per ounce with the
prospect of tighter money supply. The demand
for physical gold from major emerging markets
such as China and India could not arrest the
selloff this round.
The prospect of higher interest rates in US next
year prompted massive reallocation of assets
from emerging markets in favor of US Dollar
assets, causing losses in equities and fixed
income instruments in emerging markets. Asia
was not spared from the selloff as it was the
largest recipient of foreign portfolio flows while
the developed economies were marred with
slow to negative growth. The trend appeared to
be reversing.
2. TAP INTO THE URBANISATION TREND IN ASIA

APIF capitalises on the regions growth from
urbanisation and rising disposable income

The Fund invests in growth prospects in the
property and infrastructure development
sectors

Urbanisation is the driving factor for
infrastructure development. Infrastructure
investments are set to increase substantially
over the coming decades
3. TACTICAL ASSET ALLOCATION

Invests in a diversified portfolio of assets
across sectors and countries to mitigate risks

Tactical and optimal asset allocation strategy
allows flexibility in various market conditions

Active management to ensure the Fund adapts
readily to changing economic landscape
BENEFITS OF THE FUND
1. AIMS TO PROVIDE INCOME & CAPITAL
APPRECIATION

A hybrid of Real Estate Investment Trusts
(REITs) and infrastructure-related equities that
focuses on dividend yields and capital growth

The Funds strong performance since we
assumed its management in-house, is a
testimony to the effectiveness of HwangIMs
investment strategy and stock selection
process

The Fund invests after extensive research into
REITs and infrastructure-related equities to
ensure quality, stability and growth potential
of the Fund
Capturing the Opportunities of Asias Urbanisation
04
CAPTURING THE
OPPORTUNITIES OF
ASIAS URBANISATION
Hwang Asia Pacific (ex-Japan) Infrastructure Fund (APIF or the Fund) is
an income-yielding and growth fund that aims to generate regular income
stream and capital appreciation over the medium to long-term. APIF aims to
capture the opportunities of the urbanisation trend by investing in REITs and
infrastructure companies in Asia Pacific (ex-Japan).
Cumulative Return Over The Period (%)
Source: Lipper for Investment Management as at 31 May 2013
HwangIM manages APIF effective 31 March 2012
110
100
90
80
70
60
50
May 09 May 10 May 11 May 12 May 13
P
e
r
c
e
n
t
a
g
e

G
r
o
w
t
h

(
%
)
HwangIM took over
the management of APIF
b. The Funds strong performance since we assumed its management
in-house, is a testimony to the effectiveness of HwangIMs
investment strategy and stock selection process
a. A hybrid of Real Estate Investment Trusts (REITs)
and infrastructure-related equities that focuses
on dividend yields and capital growth
1. AIMS TO PROVIDE INCOME & CAPITAL APPRECIATION
Sunway REIT 4.0%
Suntec Real Estate Invtm Trust** 3.7%
China Longyuan Power Group-H** 3.2%
Indocement Tunggal Prakasa** 3.0%
Philippine Long Distance Tel** 2.9%
Frasers Commercial Trust** 2.9%
Frasers Centrepoint Trust** 2.7%
Megawide Construction Corp** 2.6%
Capitaretail China Trust** 2.5%
Mapletree Industrial Trust** 2.5%
Top 10 Holdings as at 31 May 2013
Source: HwangIM as at 31 May 2013 ** Foreign Equity
05
CAPTURING THE
OPPORTUNITIES OF
ASIAS URBANISATION
b. The Fund invests in growth prospects in the property and
infrastructure development sectors
b. Tactical and optimal asset allocation strategy allows flexibility
in various market conditions
3. TACTICAL ASSET ALLOCATION
a. Invests in a diversified portfolio of assets across sectors and
countries to mitigate risks
Asia Pacific (ex-Japan) Population Growth
Share of Construction Spending
by Region 2015-2020
589.6
744.7
1,214.5
1,564.8
1,354.1
1,455.1
(
M
i
l
l
i
o
n
)
Source: Global Strategic Trends - Out to 2040 (Fourth Edition)
South-Eastern Asia India China
2010 2040
Disclaimer: The Master Prospectus and its Supplemental Master Prospectus (if any) for the Hwang Asia Pacific (ex-Japan) Infrastructure Fund dated 18 July 2012 has been registered with the Securities
Commission Malaysia, who takes no responsibility for its contents. A copy of the Master Prospectus and its Supplemental Master Prospectus (if any) can be obtained at our office or any of our branches,
distributors or sales offices. Units will only be issued upon receipt of an application form referred to in and accompanying the Master Prospectus and its Supplemental Master Prospectus (if any). Investors
are advised to read and understand the content of the Master Prospectus and its Supplemental Master Prospectus (if any) before investing. Among others, investors should consider the fees and charges
involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Asia
Africa
North America
Latin America
Western Europe
Eastern Europe
Middle East
Percentage (%) 0 20 10 40 30 60 50
31
1
2
25
35
24
4
5
2
2
17
3
4
46
Financials
Industrials
Utilities
Oil & Gas
Telecomm
Consumer Goods
Consumer Services
Cash &
Cash Equivalent
Percentage (%) 0 10 5 20 15 35 30 25
31.8%
14.7%
10.3%
5.3%
1.5%
3.8%
26.4%
6.2%
Singapore
Malaysia
Philippines
Hong Kong
Indonesia
Thailand
Cash &
Cash Equivalent
Percentage (%) 0 10 5 20 15 30 25
20.2%
14.3%
11.8%
10.4%
26.4%
5.5%
11.4%
Source: IHS Global Insight (2011)
2015 2020
Sector Allocation as at 31 May 2013 Country Allocation as at 31 May 2013
Source: HwangIM as at 31 May 2013 Source: HwangIM as at 31 May 2013
2. TAP INTO THE URBANISATION TREND IN ASIA
a. APIF capitalises on the regions growth from urbanisation
and rising disposable income
06
MODEL PORTFOLIO:
SECOND QUARTER 2013
Review of Model Portfolios Second Quarter 2013
Despite the volatility, the Conservative, Income
Generator and Aggressive Portfolios were not heavily
impacted as it recorded returns of -0.54%, 2.02%,
and 4.45% respectively in the second quarter of
2013. However, it continue to provide a steady
growth, chalking up gains of 1.09%, 4.46% and
7.36% respectively on a year-to-date basis up till 30
June 2013. [Source: Bloomberg as at 30 June 2013]
Investment Actions
While the portfolios had to give up part of its gains
as a result of the more volatile financial markets, all
three model portfolios remain in comfortable positive
territory on a year-to-date period.
We believe that the current model portfolios are well
positioned for a recovery in the global financial
markets after the dust has settled. We remain
comfortable with the existing underlying funds of the
model portfolio thus will not be rebalancing the
portfolio for this quarter.
A positive start to the quarter took a turn for
the worse when the US Federal Reserves
chairman, Ben Bernanke, hinted that the
Quantitative Easing (QE) would be tapered off
in 2014, one year earlier than previously
announced. Bernankes comment led to a
correction in global financial markets as
investors reacted to the surprise
announcement by reallocating their assets.
Foreign fund managers were quick to sell-off their
investments within the Asian region, causing the
rapid slide in the equity market. Equity markets such
as Thailand, Indonesia and the Philippines suffered
strong outflows after raking in double digit returns
supported by heavy foreign investments from the
earlier part of the year.
Income yielding investments took the brunt of the hit
as investors priced-in the prospective appreciation
of the US Dollar, and higher interest rates. Real
Estate Investment Trusts (REITs) were met with
heavy profit-taking in anticipation that the higher
funding costs will chip away REITs rental returns.
[Source: CNN Money, 25 June 2013]
Corrections were also seen taking place within fixed
income instruments on concerns of possible tighter
monetary policies post-tapering which caused US
10-year treasury yields to spike. Yields jumped from
below 2% to a high of 2.6%, driving down bond
prices across all maturities and credits.
Nevertheless, the tactical asset allocation strategy
taken by the underlying funds have enabled the
respective Managers to raise the cash levels of the
funds to protect the capital of the portfolios.
Second Quarter 2013
-0.54%
Conservative
2.02%
Income Generator
4.45%
Aggresive
Year-to-date (till 30 June 2013)
1.09%
Conservative
4.46%
Income Generator
7.36%
Aggresive
CONSERVATIVE
The Conservative Portfolio is catered
to investors with low risk tolerance in
terms of portfolio value fluctuations.
Their primary objective is to preserve
their capital and the secondary
objective is to earn returns slightly
higher than that of local fixed
deposits. As such, expected returns
for this portfolio is approximately
5.4% a year.
INCOME GENERATOR
The Income Generator Portfolio is
suitable for investors who will be
willing to assume more equity risk with
the intention of generating a steady
income stream in addition to
participating in some degree of equity
performance. These investors should
be mindful that a decrease in the equity
portions of the portfolio could
potentially reduce the overall portfolio
returns substantially. The expected
returns for this portfolio is
approximately 7.8% a year.
AGGRESSIVE
The Aggressive Portfolio is
for investors with high risk appetites
and high expectations of investment
returns. This portfolio provides 80%
exposure to various equity funds
selected by the HwangIM investment
team. Investors of the Aggressive
Portfolio should expect swings
in portfolio values in the short to
medium-term. The expected returns
for this portfolio is approximately
10.5% a year.
* Data were generated from 1 January 2013 to 30 June 2013.
** Data were generated from 31 December 2009 to 30 June 2013.
07
MODEL PORTFOLIO:
SECOND QUARTER 2013
30%
Cash
60%
Fixed
Income
10%
Equities
20%
Cash
50%
Fixed
Income
30%
Equities
10%
Cash
40%
Fixed
Income
50%
Equities
Cash
Equities
Fixed
Income
INCOME GENERATOR
20%
20%
30%
20%
10%
-
-
0.30%
-0.12%
-0.15%
2.86%
1.57%
0.00%
0.00%
4.46%
1.99%
3.61%
7.61%
13.06%
5.85%
-1.30%
-1.01%
29.81%
Hwang Enhanced Deposit Fund
Hwang Select Bond Fund
Hwang Select Income Fund
Hwang Select Opportunity Fund
Hwang AIIMAN Growth Fund Fund
Hwang Global Emerging Markets Fund
Hwang Global Financial Institutions Fund
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
-
-
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
-
-
-
-
-
-
-
-
-
Cash
Equities
Fixed
Income
AGGRESSIVE
10%
20%
20%
30%
20%
-
-
0.15%
-0.12%
-0.10%
4.29%
3.14%
0.00%
0.00%
7.36%
2.77%
2.50%
4.55%
18.76%
12.21%
-2.59%
-2.03%
36.17%
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
-
-
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
-
-
-
-
-
-
-
-
-
Hwang AIIMAN Growth Fund
Fund
Selections
2Q13
Fund
Weight
30%
60%
5%
5%
-
Year-to-date
Weighted
Returns* Rationale
Revised
Fund Weight
Cash
Equities
Fixed
Income
CONSERVATIVE
30%
60%
5%
5%
-
0.45%
-0.37%
0.71%
0.30%
0.00%
1.09%
3.01%
10.84%
3.24%
0.30%
-0.38%
17.01%
Hwang Select Asia (ex-Japan) Opportunity Fund
Weighted
Returns
Since
Inception**
Investment
Actions
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
Unchanged
-
-
-
-
-
HWANGIMS RECOMMENDED FUNDS
Award-winning Fund
FUND
Select Bond Fund
Select Income Fund
SGD Income Fund
AUD Income Fund
AIIMAN Growth Fund
Asia Pacific (ex-Japan) Infrastructure Fund
Select Asia (ex-Japan) Opportunity Fund
FUND
CATEGORY
Bond
Bond
Fixed Income
Mixed Asset (Conservative)
Mixed Asset
Balanced
Equity
Equity
Mixed Asset
Equity
Equity
Equity
FUND
TYPE
Income
Income
Income & Growth
Income
Income & Growth
Growth & Income
Income & Growth
Growth
Income & Growth
Growth
Growth
Growth

Gl obal Equi ti es - Percentage Returns
(end March 13 - end June 13)
2.8
-6.5
3.7
5.1
-7.0
-5.0
-3.0
-1.0
1.0
3.0
5.0
P
e
r
c
e
n
t
a
g
e

R
e
t
u
r
n

(
%
)
MSCI World Index (MYR)
MSCI Emerging Markets Index (MYR)
MSCI World/Finance Index (MYR)
S&P 500 Index
Regi onal Equi ti es - Percentage Returns
-3.2
-4.1
-4.4
0.0
-3.6
-5.0
-4.0
-3.0
-2.0
-1.0
0.0
1.0
P
e
r
c
e
n
t
a
g
e

R
e
t
u
r
n
s

(
%
)
MSCI AC Asia (ex-Japan) Index (MYR)
MSCI AC Asia (ex-Japan) Small Cap Index (MYR)
Ho Chi Minh Stock Index (MYR)
Hang Seng Index (MYR)
FTSE Straits Times Index (MYR)

JULY 2013

MARKET UPDATE I monthly review and outlook
GLOBAL EQUITIES

Emerging markets took a dive over the second quarter of 2013
(2Q13). Most developed markets, however posted gains over the
period, in particular the US markets.

Both the MSCI World Index and MSCI World / Finance Index
recorded gains of 2.8% and 3.7% respectively (in MYR terms),
while the S&P 500 Index recorded a strong gain of 5.1% (in MYR
terms) over the quarter. Meanwhile, MSCI Emerging Market
Index suffered losses of 6.5% (in MYR terms).

The US equity markets were charting new highs over the 2Q13
on the back of improved economic environment. The conclusion
of the US FED meeting mid June stole the limelight as the Fed
indicated QE3 tapering. This created uncertainties and caused
volatilities across the global markets.

In Europe, the recession moderated with better confidence
numbers and PMI numbers. The latest PMI composite rose to
48.9 in June from 47.7 in May, the highest over 15 months.

Emerging markets were again the worst performer in 2Q13.
China's equity markets were impacted by worries of weak data
and a credit squeeze. China markets corrected to its lowest level
since early this year and impacted Hong Kong, Korea and Taiwan
markets. Other poorer performer was the Indonesian markets,
depressed by the Bank of Indonesia surprised rate hike.

STRATEGY: The Manager will be monitoring the global economic
recovery in particular; the US as well as the economic
development in China. The Manager is cautious and has been
increasing the level of cash in view of the volatility in the markets.

REGIONAL EQUITIES

Source: Bloomberg

Asian equities were on an up-trend until global financial
markets were shaken by Feds comment on the tapering off of
its quantitative easing program. The spike in US treasury yields
saw foreign funds moving their investments out of Asian
equity markets, causing the US Dollar to appreciate and Asian
equity markets to slide.

Asian markets suffered in the last quarter with the MSCI AC
Asia (ex Japan) Index slipping 3.6% in MYR terms. It was
reported that more than USD 8 billion has been pulled out of
Asian ex-Japan equity markets over the span of the last 3
months ending 30
th
June 2013.

Market sentiment weakened further as it faced headwinds
from the slowdown in Chinas economy. The HSBC Flash PMI
for the month of June declined for the 1
st
time in 7-months,
and recorded 48.3, the lowest reading in 9-months.
s regional
portfolios until some stability in the market is seen.

STRATEGY: In view of the volatility within global financial
markets, the Manager has reduced its exposure into markets
that had benefitted from strong foreign fund inflows such as
Thailand, Indonesia, and the Philippines. The Manager is
looking to maintain a higher level of cash for it

Source: Bloomberg

09 JULY 2013 I FUNDamentals

MGS vs Mal aysi an AA2/AA Corporate Bond Yi el ds
3
.
0
7
%
3
.
2
2
%
3
.
4
7
%
3
.
2
8
%
3
.
4
5
%
3
.
6
0
%
4
.
0
4
%
4
.
3
0
%
4
.
9
2
%
3
.
9
9
%
4
.
2
2
%4
.
7
4
%
0
.
1
3
%
0
.
2
3
%
0
.
2
1
%
-
0
.
1
8
%
-
0
.
0
8
%
-
0
.
0
5
%
-1.0%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
3YR 5YR 10YR
Yi el ds
MGS Yields (31 March 2013)
MGS Yields (30 June 2013)
MGS Yield Movement (31 March 2013 - 30 June 2013)
MYR Credit BNM AA (31 March 2013)
MYR Credit BNM AA (30 June 2013)
MYR Credit BNM AA Yield Movement (31 March 2013 - 30 June 2013)
Local Equi ti es - Percentage Returns
6.1
7.3
8.3
16.9
0.0
3.0
6.0
9.0
12.0
15.0
18.0
P
e
r
c
e
n
t
a
g
e

R
e
t
u
r
n
s

(
%
)
FBM Kuala Lumpur Composite Index (FBM KLCI)
FBM Top 100 Index
FBM Emas Shariah Index
FBM ACE Index

JULY 2013

LOCAL EQUITIES

The domestic equity market stayed on top of its regional
peers after a slow start in the year. Malaysia enjoyed steady
inflows after its key market risk of political uncertainty was
eliminated post-election, prior to the Feds comment which
caused uncertainty amongst global investors.

While its regional peers suffered from foreign outflows after a
strong showing, the KLCI remained resilient after gaining
support by domestic investors who looked to increase their
exposure after a pre-election sell-down.

The Ringgit has not been spared as Asian currencies remain
under pressure from tapering off concerns as well as slowing
regional growth expectations on the back of weaker Chinese
economic data. Strengthening of the USD will remain a key
concern for the region in the near-term.

While the equity market held up, the Ringgit tumbled against
the USD on the increasing uncertainty surrounding the Feds
exit strategy. The Ringgit was valued at RM3.1603 to USD1 on
30 June compared to RM3.0938 to USD1 at the end of March.

Strategy: The Manager has taken a more cautious approach
on the market, raising cash levels of the portfolio as volatility
in global financial markets continue. The Manager will look
for markets to stabilise before making a deployment back
into the market.

Source: Bloomberg

GLOBAL & LOCAL FIXED INCOME

Source: Bloomberg
The 2
nd
quarter of 2013 was a volatile period for bonds. Talks
emerged that the US Federal Reserve (FED)will potentially taper
off the Quantitative Easing (QE) program, leading to correction
of bonds across the globe. The US 10-year treasury yields
peaked at 2.6% and eventually recovered to 2.5%, reflecting
expectations of tighter monetary conditions once QE is reduced.
The US dollar also rallied against most Asian currencies. Against
this backdrop, volatility is expected to persist in the short-term,
albeit to a lesser extent.

Asian bonds adverse price movements were largely influenced
by the announcement of the FED. For the quarter, USD-
denominated Asian bonds as represented by JP Morgan Asia
Credit Index declined 2.4% (MYR). In China, Junes Purchasing
Managers Index was softer at 50.1, adding concerns to its GDP
growth.

The Malaysian Government Securities (MGS) yields increased
along the curve where the short-medium end increased the
most by 21-23 basis points. Regardless, Malaysias corporate
bonds held up relatively well as compared to its regional peers.
This was supported by the fact that the key event risk arising
from the 13
th
General Election has passed. Generally, Bank
Negara Malaysia is expected to keep interest rate unchanged at
3.0% for now due to global economic uncertainty while
domestic demand is supportive of growth.

Strategy: The Manager has raised cash to a large extent in order
to manage the Funds volatility. Durations have been further
reduced to well below 5 years, in view of potential rising
interest rates. Prudent credit selection remains a key to fixed
income investing and the Manager intends to maintain a very
low exposure to high yield bonds until the valuations are more
attractive.


Gl obal Commodi ti es - Percentage Returns
-7.0
-22.8
-8.0
2.0
-23.0
-19.0
-15.0
-11.0
-7.0
-3.0
1.0
P
e
r
c
e
n
t
a
g
e

R
e
t
u
r
n

(
%
)
Dow Jones-UBS Commodity Index (MYR)
Bloomberg WTI Cushing Crude Oil Spot Index (MYR)
Gold Spot (USD/oz)
Dow Jones-UBS Industrial Metals TR Sub-Index (MYR)
Gl obal Property & Infrastructure - Percentage Returns
-1.1
-11.3
1.9
-12.0
-10.0
-8.0
-6.0
-4.0
-2.0
0.0
2.0
P
e
r
c
e
n
t
a
g
e

R
e
t
u
r
n

(
%
)
UBS Warburg Global Real Estate Investors Index (MYR)
Bloomberg Asia REIT Index
MSCI AC Asia (ex Japan) Infrastructure Index

JULY 2013

GLOBAL COMMODITIES

The broader commodity sector, measured by the Dow Jones-UBS
Commodity Index, lost 7.0% in the second quarter of 2013. Most
of the commodities fell on USD strength and slowdown of China
growth.

WTI gained 7.8% in June (for the first month since March) during
the summer months in US as demand for gasoline grew to meet
the rise in consumption. In addition, refineries operating rates
shot to its highest level this year. Inventories also shrank to 48.6
million barrels in June, the lowest level since December 2012.
Concerns on possible supply disruption due to the on-going
political turmoil in Egypt provided the boost to oil prices.

Gold spot prices suffered the largest decline since 1920 as it
slumped 22.8% over the quarter, The price dropped to the lowest
level since August 2010 at USD1,180.50 an ounce but rebounded

in June on signs of increased demand for jewelry, coins and bars.
as manufacturing
sectors are weighed down by slower demand.
ing down,
coupled with the tapering of US Quantitative Easing.

Industrial metals fell 8.0% in tandem with the weakening of
manufacturing activities in China. The HSBC Flash Purchasing
Mangers Index (PMI) began trending below 50 since April and
dropped to a 9-month low of 48.3 in June

STRATEGY: The Manager maintains a cautious stance on
commodities as Chinas economy showed signs of slow

GLOBAL THEMES: REITs & INFRASTRUCTURE

Source: Bloomberg

REITs remained on a downward trend in June as bond yields in
the US continued to rise in response to talk of the tapering of US
Quantitative Easing. The Bloomberg Asia REIT Index recorded a
loss of 11. % over the quarter. 3

The MSCI AC Asia (ex Japan) Infrastructure Index gained 1.9% for
the second quarter of the year.

In terms of total returns, Singapores REITs are the second-worst
performers in Asia after South Korea in the current volatile
market. However, theyre well-positioned to weather the
volatility in the US treasury yields as the REITs have diversified
their funding sources.
ll roads, seaports and airports to support the
economic growth.
while, cash level is maintained at high level
to be deployed later.

Southeast Asias largest economy, Indonesia, is forecasted to
expand 6.3% this year. The government plans to boost spending
on power plants, to

STRATEGY: The Manager maintains a cautious stance on REITs
sector and would increase exposure into infrastructure stocks in
the short term. Mean

as at 30 June 2013^^
Fund Category (Lipper) :
Fund Type :
Benchmark^ :
:
Maturity Date :
Financial Year End :
Current NAV per unit : 1.2607
:
Initial Sales Charge : Max 5.50% of the NAV per Unit
Subscription : Cash
Annual Management Fee : 1.50% p.a
Minimum Investment : RM1,000
: RM100
Repurchase Charge : Nil
Distribution Policy
(1)
: Incidental
: 2012 - 5.00
1 Month 12 Months Fund (%) -4.85 6.23 21.50 38.49 102.19 178.99
Highest (RM) 1.3187 1.3347 Benchmark (%)^ -6.51 -3.23 3.38 13.34 4.65 40.03
Lowest (RM) 1.2361 0.9583 Source : Lipper
Sector Allocation as at 30 June 2013*
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
Asset Allocation as at 30 June 2013*
1 Equities 70.2%
2 Cash & Cash Equivalents 29.8%
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 10.9 and is classified as High (source: Lipper). High includes Funds with VF that are above 10.440 but not more than 12.835.
The Volatility Factor (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. The Fund's portfolio may have changed since this date and there is no guaranteed 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.
Aeon Credit Services M Berhad
Giordano International Ltd**
Megawide Construction Corp**
Religare Health Trust**
Media Prima Berhad
Greatview Aseptic Packaging Co**
1.3347
May 2004 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
gross investment based in RM. The value of Units may go down as well as up. Past performance is
not indicative of future performance.
Source: Lipper
Minimum Subsequent
Investment
Historical NAV as at 30 June 2013
Since Inception
Gross Income Distribution
(sen)
(2)
Hwang Select Asia (ex Japan) Quantum Fund
(formerly known as Hwang Asia Quantum Fund)
Launch Date / IOP 15 April 2004 / RM0.50
Top 10 Holdings as at 30 June 2013*
Source: Bloomberg as at 30 June 2013
Fund Size RM138.232 million
N/A
31 December
0.3672
MSCI AC Asia (ex-Japan) Small
Cap Index
Fund Information as at 30 June 2013
Performance Record as at 30 June 2013*
Equity
Growth
(NAV-NAV Prices)
* The data provided above are that of the Fund and are a percentage of NAV as at 30 June 2013. All figures are subject to frequent changes on a daily basis.
(1)
The Fund is not expected to make distribution. However, incidental distribution may be declared whenever is appropriate.
Eastern & Oriental Bhd
Allianz Malaysia Berhad
Pt Bank Cimb Niaga Tbk**
Del Monte Pacific Ltd**
Country Allocation as at 30 June 2013*
2.8%
(2)
Where distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV.
Performance Table as at 30 June 2013*
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
3.7%
3.6%
3.5%
3.2%
2.8%
3.0%
2.9%
2.8%
2.8%
50
100
150
200
250
300
350
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%
)
Financials
27.9%
Industrials
18.4%
Consumer Services
11.3%
Consumer Goods
6.1%
Technology
2.3%
Health Care
1.9%
Telecomm
1.4%
Basic Materials
0.9%
Cash & Cash
Equivalents
29.8%
Cash & Cash
Equivalents
29.8%
Thailand
3.3%
Hong Kong
6.5%
Philippine
9.5%
Indonesia
13.4%
Singapore
15.8%
Malaysia
21.8%
A total return fund that seeks to capture the high growth of developing companies within the Asia (ex-
Japan) region.
Benchmark^
AQF
This document is prepared by Hwang Investment Management Berhad for information only. The information contained herein has been obtained from sources believed in good faith to be reliable; however, no
guarantee is given in its accuracy of completeness. The Master Prospectus dated 18 July 2012 and First Supplemental Master Prospectus dated 1 September 2012 have been registered with the Securities
Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form
referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing. Among others, Investors should consider the fees and charges
Fund Type :
Benchmark^
(1)
:
:
Maturity Date :
Current NAV per unit : RM0.4781
:
Initial Sales Charge :
:
Minimum Investment :
: RM100
: Incidental
: 2008 - 5.00
Fund (%) -3.69 0.40 5.96 19.08 26.62 9.78
Benchmark (%)^ -3.74 -3.63 -3.23 7.01 20.74 -12.57
Source : Lipper
1 Month 12 Months
Highest (RM) 0.4961 0.5007
Lowest (RM) 0.4679 0.4019
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
(1)
As at 15 June 2012, the Benchmark was replaced by the MSCI AC Asia Ex Japan Index as the Fund assumed its new mandate.
(2)
3 Year
Since
Inception
Media Prima Berhad
Beijing Capital Intl Airport**
Since Inception
0.2984
0.7879
1 Month 3 Month
Year to
Date
Minimum Subsequent
Investment
1 Year
Hwang Select Asia (ex Japan) Opportunity Fund
Distribution Policy
(2)
(sen)
August 2006 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Fund, gross investment based in RM. The value of Units may go down as well as up. Past
performance is not indicative of future performance.
Source: Lipper
N/A
31 January
Cash
Fund Information as at 30 June 2013 Performance Record as at 30 June 2013*
Equity Global Cumulative Return Over The Period (%)
Subscription
RM1,000
Growth (NAV-NAV Prices)
Bank of Ayudhya Public Co Ltd**
DBS Group Holdings Ltd**
Pepsi-Cola Products Ph Inc**
*The Performance Record, Performance Table, Sector Allocation, Country Allocation and Top 10 Holdings above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures are subject to
frequent changes on a daily basis.
MSCI AC Asia ex Japan Index
Launch Date / IOP 19 July 2006 / RM0.50
Max 5.50% of the NAV per Unit
2.6%
2.9%
2.9%
2.8%
2.8%
2.8%
2.7%
3.5%
3.2%
3.0%
Greatview Aseptic Packaging Co**
China Construction Bank Corp**
Financials
26.5%
Industrials
15.2%
Consumer Services
11.2%
Consumer Goods
5.6%
Telecomm
3.8%
Oil & Gas
2.1%
Health Care
2.1%
Technology
1.7%
Basic Materials
0.7%
Cash & Cash
Equivalents
31.3%
Malaysia
18.2%
Singapore
14.8%
Hong Kong
14.1%
Indonesia
9.4%
Philippine
7.4%
Thailand
4.8%
Cash & Cash
Equivalents
31.3%
An equity fund that provides exposure to prevailing opportunities and themes through investments within the Asian (ex Japan)
region.
50
70
90
110
130
150
170
190
Aug 06 Dec 07 May 09 Sep 10 Jan 12 Jun 13
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(1)
Benchmark^
SAOF
guarantee is given in its accuracy of completeness. The Master Prospectus dated 18 July 2012 , First Supplemental Master Prospectus dated 1 September 2012 and Second Supplemental Master Prospectus dated 2
May 2013 have been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office. Units will
only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing. Among
others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative
of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
Sales Charge_Cash Sales
: Max 6.50% of NAV per Unit
Unit Trust Consultants : Max 5.50% of NAV per Unit
Sales Charge_EPF Sales : Max 3.00% of NAV per Unit
:
:
: Fund (%) -3.94 8.75 14.46 27.99 76.67 524.34
Benchmark (%)^ -0.40 7.31 6.89 12.45 39.76 201.52
: 2002 - 6.50 2008 - 10.00 Source : Lipper
2003 - 6.50 2009 - 2.00
2004 - 10.00 2010 - 5.00 Sector Allocation as at 30 June 2013*
2005 - 10.00 2011 - 5.00
2006 - 8.00 2012 - 5.10
2007 - 12.00 2013 - 10.00
1 Month 12 Months
Highest (RM) 1.0457 1.0540
Lowest (RM) 0.8886 0.7995
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
1 Equities 58.6%
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 10.4 and is classified as Moderate (source: Lipper). Moderate includes Funds with VF that are above 10.440 but not more than 12.835.
qualified funds. The Fund's portfolio may have changed since this date and there is no guaranteed 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.
^^The Morningstar Rating is an assessment of a Fund's past performance-based on both return and risk-which shows how similar investments compare with their competitors. A high rating alone is insufficient basis
for an investment decision.
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV.
* The Sector Allocation, Asset Allocation, Top 10 Holdings, Country Allocation, Performance Record and Performance Table above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures
are subject to frequent changes on a daily basis.
2.1%
2.1%
2.0%
Tune Ins Holdings Bhd
UOA Development Bhd
Hong Leong Bank Bhd
Aeon Credit Services M Berhad 2.5%
Eastern & Oriental Bhd
2.2%
2.2%
Media Prima Berhad Country Allocation as at 30 June 2013*
KLCC Property Holdings Bhd 2.7%
Since Inception
1.0626
0.4133
(sen)
(1)
Repurchase Charge Nil
Distribution Policy Distribution of income, if any,
would be on annual basis.
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
RM1,000
Minimum Subsequent
Investment
: RM100
Internal Distribution Channel
of the Manager
September 2001 to 30 June 2013 NAV-NAV prices and assuming reinvestment of distributions into
the Fund, gross investment based in RM. The value of Units may go down as well as up. Past
Source: Lipper
Subscription Cash / EPF
N/A
31 July
(NAV-NAV Prices)
Launch Date / IOP 7 September 2001 / RM0.50
2.1%
Institutional Unit Trust
Advisers
3.6%
2.8%
Equity Malaysia
Growth Performance Record as at 30 June 2013*
FTSE Bursa Malaysia Top 100
Index (FBM 100)
Financials
27.2%
Consumer Services
9.3%
Industrials
8.2%
Consumer Goods
5.0%
Telecomm
4.2%
Oil & Gas
3.6%
Technology
1.1%
Cash & Cash
Equivalents
41.4%
90
190
290
390
490
590
690
Sep 01 Sep 03 Aug 05 Aug 07 Jul 09 Jul 11 Jun 13
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(
%
)
Malaysia
40.4%
Hong Kong
5.7%
Singapore
4.7%
Indonesia
3.5%
Philippine
3.1%
Thailand
1.2%
Cash & Cash
Equivalents
41.4%
An unconstrained equity fund, anchored by Malaysian stocks with an Asian focus that attempts to provide
absolute returns across market cycles.
Benchmark^
SOF
only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing. Among others,
Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its
future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
: 1.80% p.a
:
:
Fund (%) -3.79 -1.39 7.52 21.24 40.29 -3.19
: 2008 - 0.50 Benchmark (%)^ 0.81 -4.85 4.55 13.34 33.67 -3.09
2013 - 2.50 Source : Lipper
1 Month 12 Months
Highest (RM) 0.4581 0.4710
Lowest (RM) 0.4189 0.3744
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
(3)
As at 15 June 2012, the Benchmark was replaced by the 50% MSCI AC Asia ex Japan Infrastructure Index and 50% Bloomberg Asia REIT Index as the Fund assumed its new mandate
(1)
Maximum of 1.00% of the NAV per unit for any repurchase request of Unit within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not consider a
May 2007 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
Source: Lipper
1 Month 3 Month
3 Year
Since
Inception
Minimum Subsequent
Investment
:
Year to
Date 1 Year
1% of NAV per Unit for any
investment within the first 6
months.
RM100
30 April
Mapletree Industrial Trust**
Philippine Long Distance Tel**
Since Inception
3.2%
3.2%
0.4919
Cash Subscription
Sunway REIT
China Longyuan Power Group-H**
3.7%
3.6%
0.2457
Hwang Asia Pacific (ex Japan) Infrastructure Fund
(sen)
(2)
Annual Management Fee
Equity Asia Pacific ex Japan (NAV-NAV Prices)
25 April 2007 / RM0.50
RM1,000
Launch Date / IOP
N/A
Mixed Securities Cumulative Return Over The Period (%)
(2)
* The data provided above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures are subject to frequent changes on a daily basis.
50% MSCI AC Asia ex Japan
Infrastructure Index +
50% Bloomberg Asia REIT Index
Repurchase Charge
(1)
2.2%
2.1%
2.9%
2.5%
2.2%
Frasers Centrepoint Trust**
Glow Energy Pcl**
2.1% KLCC Property Holdings Bhd
Indocement Tunggal Prakasa**
Financials
23.6%
Industrials
15.2%
Oil & Gas
7.3%
Utilities
7.0%
Telecomm
5.5%
Consumer Services
1.5%
Consumer Goods
1.1%
Technology
0.4%
Cash & Cash
Equivalents
38.5%
Malaysia
15.7%
Singapore
12.6%
Hong Kong
10.8%
Philippine
9.2%
Indonesia
7.4%
Thailand
5.9%
Cash & Cash
Equivalent
38.5%
50
60
70
80
90
100
110
120
May 07 May 08 May 09 May 10 Jun 11 Jun 12 Jun 13
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(
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)
A mixed securities fund that aims to provide a combination of income and growth through investments in the REITs and
infrastructure sector within the Asia Pacific (ex Japan) region.
(3)
APIF
Benchmark^
guarantee is given in its accuracy of completeness. The Master Prospectus dated 18 July 2012 , First Supplemental Master Prospectus dated 1 September 2012 and Second Supplemental Master Prospectus
dated 2 May 2013 have been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office.
Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing.
Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as
indicative of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
Subscription : Cash
: RM100
Income Distribution :
: 2012 - 3.05 Fund (%) -2.89 3.21 7.68 20.36 N/A 35.08
2013 - 1.00 Benchmark (%)^ -0.63 2.65 5.62 10.96 N/A 17.66
Source : Lipper
1 Month 12 Months
Highest (RM) 0.6611 0.6713
Lowest (RM) 0.6200 0.5528
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
1 Equities 68.2%
2.1%
Wing Tai Malaysia Bhd
Advanced Info Service Pcl**
Hwang Select Dividend Fund
(sen)
(1)
0.4563
0.6713
April 2011 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
Source: Lipper
1 Month 3 Month
5.5%
5.4%
4.4%
3.1%
(1)
2.7%
2.7%
Income & Growth (NAV-NAV Prices)
Equity Cumulative Return Over The Period (%)
Minimum Subsequent
Investment
Year to
Date
Axiata Group Bhd
Sunway Reit
Hong Leong Financial Group Bhd
Petronas Gas Berhad
Carlsberg Brewery M'Sia Bhd
Media Prima Berhad
Malayan Banking Bhd
2.5%
70% FTSE Bursa Malaysia Top
100 Index + 30% Dow
Jones/Asia Pacific Select
Dividend 30 Index
Launch Date / IOP
N/A
30 September
1 Year 3 Year
Since
Inception
28 March 2011 / RM0.50
Distribution of income, if any,
would be on semi-annual basis.
Since Inception
6.2%
1.9%
Financials
30.2%
Consumer Goods
12.5%
Industrials
6.9%
Telecomm
5.8%
Oil & Gas
5.7%
Consumer Services
5.2%
Utilities
1.8%
Health Care
0.1%
Cash & Cash
Equivalents
31.8%
80
90
100
110
120
130
140
150
Apr 11 Aug 11 Dec 11 Mar 12 Jul 12 Nov 12 Mar 13 Jun 13
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(
%
)
Malaysia
48.7%
Hong Kong
5.0%
Thailand
4.8%
Indonesia
3.7%
Singapore
3.7%
Philippine
2.3%
Cash & Cash
Equivalents
31.8%
An income driven, absolute return focused fund that aims for capital appreciation and semi annual income distribution
through investments in high dividend yielding equities and future potential dividend generating equities .
Benchmark^
SDF
guarantee is given in its accuracy of completeness. The Prospectus dated 28 March 2013 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the
Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectus. Investors are advised to read and
understand the content of the Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up.
The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
Sales Charge_Cash Sales
Institutional Unit Trust Advisers : Max 6.50% of NAV per Unit
Unit Trust Consultants : Max 5.50% of NAV per Unit
Sales Charge_EPF Sales : Max 3.00% of NAV per Unit
:
:
: Fund (%) -3.06 3.30 6.21 13.07 48.45 189.96
Benchmark (%)^ -0.06 4.04 4.25 7.80 24.10 91.28
Source : Lipper
:
2004 - 3.50
2005 - 4.00
2006 - 2.50
2007 - 5.00
2008 - 5.00
2009 - 5.00
1 Month 12 Months
Highest (RM) 0.6772 0.6837
Lowest (RM) 0.6411 0.5944
(%)
1 BNM Sukuk Bhd 0.00% 16.07.13 8.2%
2 Public Finance Berhad 7.50% 05.06.59 4.8%
3 Sports Toto Malaysia Sdn Bhd 5.50% 30.06.15 2.3%
4 Tanjung Bin Energy Issuer Bhd 5.55% 15.09.25 2.2%
5 Tanjung Bin Power Sdn Bhd 4.54% 16.08.19 2.1%
1 Malayan Banking Bhd
2 CIMB Group Holdings Bhd
3 KLCC Property Holdings Bhd
4 Sapura Kencana Petroleum Bhd
5
2013 - 1.00
No
The Credit Profile above are a percentage of the Fund's fixed income portion only.
^^ Foreign bonds rated either by Standard & Poor's or Moody
Credit Profile as at 30 June 2013*
Top 5 Holdings (Equity) as at 30 June 2013*
1.8%
(NAV-NAV Prices)
1.9%
1.9%
Source: Lipper
2.2%
1.9%
Top 5 Holdings (Bond) as at 30 June 2013*
Distribution Policy
Gross Income Distribution (sen)
(1)
would be on semi-annual
basis.
Credit
Since Inception
0.6837
0.4346
Coupon
Maturity
Date
^^The Morningstar Rating is an assessment of a Fund's past performance-based on both return and risk-which shows how similar investments compare with their competitors. A high rating alone is insufficient
basis for an investment decision.
(1)
Based on the Fund portfolio returns as at 31 May 2013 , the VF for this Fund is 5.9 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.235 but not more than 7.890.
N/A
50% FBM Top 100 Index +
50% Maybank 12-Month Fixed
Deposit Rate
Launch Date / IOP
: RM100
Minimum Subsequent Investment
Mixed Assets MYR Balanced
Hwang Select Balanced Fund
Dayang Enterprise Hldgs Bhd
Growth and Income
30 June
Internal Distribution Channel of the
Manager
RM1,000
28 July 2003 / RM0.50
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
2010 - 5.00
2011 - 5.00
2012 - 5.10
95
135
175
215
255
295
335
Aug 03 Apr 05 Nov 06 Jul 08 Mar 10 Nov 11 Jun 13
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(
%
)
Benchmark^
SBalancedF
Bond
42.4%
Financials
18.9%
Oil & Gas
6.4%
Industrials
4.7%
Consumer Goods
3.9%
Telecomm
3.5%
Consumer Services
1.6%
Other
1.6%
Utilities
0.9%
Cash & Cash
Equivalents
16.2%
AAA
8.18%
AA
35.69%
A
3.67%
BBB
0.69%
A^^
1.18%
BBB^^
8.69%
BB^^
1.30%
B^^
1.92%
Others
22.24%
Cash
16.45%
An absolute return focused fund that targets to provide a balance between high level of cash flow as well as
growth, through a mixture of investments in Malaysian and foreign fixed income and equities.
only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing. Among others,
Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its
future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
Current NAV per unit : AUD0.5594
:
:
:
Minimum Investment
(1)
:
:
:
Fund (%) -1.53 0.63 3.32 9.07 N/A 19.23
Benchmark (%)^ -0.24 -1.32 1.93 6.05 N/A 12.37
:
2013 - 1.00
Portfolio Yield* : 3.62%
Portfolio Duration* : 2.64 Years
1 Month 12 Months
Highest (AUD) 0.5719 0.5804
Lowest (AUD) 0.5577 0.5369
(%)
1 New South Wales Treasury** 6.00% 01.04.16 6.8%
2 Australian Government** 5.50% 21.04.23 4.5%
3 National Aus Bank Ltd** 4.10% 05.11.15 4.0%
4 Korea Gas Corp** 4.50% 25.09.15 3.9%
5 Sumitomo Mitsui Banking** 3.59% 26.02.16 3.1%
** Foreign Bond
1
2
3
4
5
** Foreign Equity
Apa Group**
National Australia Bank Ltd** 1.4%
1.4%
Maturity
Date Coupon
Transurban Group**
Goodman Group**
1.5%
31 August
80% weighted Reserve Bank of
Australia Average Rate of
Term Deposits + 20% weighted
Dow Jones Australia Select
Dividend 30 Index
(NAV-NAV Prices)
Mixed Assets Cumulative Return Over The Period (%)
Income & Growth
Launch Date / IOP 18 March 2011 / AUD0.50
AUD102.430 million
Max 3.00% of NAV per Unit
AUD1,000
Subscription
Minimum Subsequent
Investment
:
Repurchase Charge
(2)
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
(3)
Hwang AUD Income Fund (AUD Class)
1.00% of NAV per Unit for any
months.
March 2011 to 30 June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
0.5021
0.5804
Cash
Initial Sales Charge
N/A
AUD5,000
Fund Size
2.0%
1.9%
Caltex Australia Ltd**
(1)
To invest in the AUD Class, investors are required to have a foreign currency accout (Australian Dollars)with any financial institutions as all transactions relating to the AUD Class will ONLY be made via
telegraphic transfers.
* The data provided above are that of the Fund and are a percentage of NAV as a 30 June 2013 . All figures are subject to frequent changes on a daily basis.
(2)
Maximum of 1.00% of the NAV per Unit for any repurchase within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a repurchase. The
Cooling-off Period for a qualified investor is within 6 Business Days from the day the initial application for Units is received by the Manager.
Credit
Since Inception
(3)
Distribution Policy
Top 5 Holdings (Bonds) as at 30 June 2013*
No
Bond
72.7%
Financials
6.9%
Oil & Gas
3.4%
Industrials
2.8%
Consumer Services
2.2%
Utilities
0.6%
Cash & Cash
Equivalents
11.2%
90
95
100
105
110
115
120
125
Mar 11 Jul 11 Nov 11 Mar 12 Jul 12 Oct 12 Feb 13 Jun 13
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A
27.6%
Cash
20.7%
Others
18.7%
AAA
16.6%
AA
11.6%
BBB
4.8%
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as growth, through
mixture of investments in Australian fixed income and equities.
[AUD Class - Represents a Class of Untis denominated in Australian Dollars (AUD)]
Benchmark^
AUDIF-AUD
Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectus. Investors are advised to read
and understand the content of the Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well
as up. The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
:
:
Fund (%) -3.07 -8.67 -4.89 -1.35 29.48 19.22
Benchmark (%)^ -1.83 -10.47 -6.17 -4.11 24.80 14.47
:
2012 - 2.55
1 Month 12 Months
Highest (RM) 0.5593 0.5988
Lowest (RM) 0.5351 0.5351
(%)
1 New South Wales Treasury** 6.00% 01.04.16 6.8%
2 Australian Government** 5.50% 21.04.23 4.5%
3 National Australia Bank Ltd** 4.10% 05.11.15 4.0%
4 Korea Gas Corp** 4.50% 25.09.15 3.9%
5 Sumitomo Mitsui Banking** 3.59% 26.02.16 3.1%
** Foreign Bond
1
2
3
4
5
** Foreign Equity
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
Hwang AUD Income Fund (RM Class)
Distribution Policy
Launch Date / IOP 18 March 2010 / RM0.50
(NAV-NAV Prices)
Initial Sales Charge Max 3.00% of NAV per Unit
RM72.824 million
Mixed Assets
80% weighted Reserve Bank
of Australia Average Rate of
Term Deposits + 20%
weighted Dow Jones Australia
Select Dividend 30 Index
Fund Size
Income & Growth
Cash
31 August
N/A
1.4%
Transurban Group**
APA Group**
National Australia Bank Ltd**
Subscription
Credit
1.5%
1.4%
(1)
Maximum of 1.00%of the NAV per unit redeemed within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a redemption. The Cooling-off Period
for a qualified investor is within 6 Business Days from the day the initial application for Units is received by the Manager.
(2)
Minimum Subsequent
Investment
(sen)
(2)
would be on semi-annual
basis.
:
Repurchase Charge
(1)
RM100
April 2010 to 30 June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
1.9%
0.5988
Since Inception
Goodman Group**
2013 - 1.00
months.
RM1,000
0.4585
Caltex Australia Ltd** 2.0%
No Coupon
Maturity
Date
Bond
72.7%
Financials
6.9%
Oil & Gas
3.4%
Industrials
2.8%
Consumer Services
2.2%
Utilities
0.6%
Cash & Cash
Equivalents
11.2%
85
95
105
115
125
135
Apr 10 Oct 10 May 11 Nov 11 May 12 Dec 12 Jun 13
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A
27.6%
Cash
20.7%
Others
18.7%
AAA
16.6%
AA
11.6%
BBB
4.8%
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as growth, through
mixture of investments in Australian fixed income and equities.
[RM Class - Represents a Class of Units denominated in Ringgit Malaysia (RM)]
Benchmark^
AUDIF-RM
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
: 1.50% p.a
: RM100
:
:
1 Month 12 Months
Highest (RM) 0.5257 0.5309
Lowest (RM) 0.5150 0.4969
(%)
1 0.00% 15.11.13 4.8%
2 3.15% 11.03.23 4.7%
3 5.13% 29.03.49 4.1%
4 3.15% 11.07.22 3.3%
5 3.10% 08.08.16 3.2%
** Foreign Bond
1
2
3
4
5
** Foreign Equity
70% 12-Month Singapore Banks
Average FD rate + 30% FTSE
Singapore's Straits Times Index
Oversea-Chinese Banking**
Genting Singapore PLC**
United Overseas Bank Ltd**
(1)
Maximum of 1.00% of the NAV per unit for any repurchase request of Units within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a
redemption.
Hwang SGD Income Fund (RM Class)
Croesus Retail Trust**
^^ A large portion of the SGD-denominated bond universe does not have credit rating.
Mixed Assets
Income
No Coupon Credit
Maturity
Date
Since Inception
Distribution Policy
Launch Date / IOP
N/A
31 March
01 August 2012/ RM0.50
Repurchase Charge
(1)
0.4969
0.5309
Subscription Cash
2.3%
2.2%
Singapore Treasury Bill**
Suntec Real Estate Invtm Trust**
3.0%
2.6%
-Not applicable as the Fund is less than one year-
RM1,000
1.00% of NAV per Unit for the
first 6 months from the date of
investment.
Bond
60.4%
Financials
14.3%
Consumer Goods
3.5%
Industrials
3.1%
Technology
1.7%
Consumer Services
0.7%
Cash & Cash
Equivalents
16.3%
Others^^
46.6%
AA
20.1%
AAA
12.6%
BBB
11.1%
A
9.1%
Cash
0.5%
An income driven, absolute return focused fund that endeavours to provide steady income distribution through investments
primarily in SGD-denominated assets.
[RM Class - Represents a Class of Units denominated in Ringgit Malaysia (RM)]
guarantee is given in its accuracy of completeness. The Prospectus dated 1 August 2012 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the
Fund Type :
Benchmark^ :
:
Maturity Date :
Current NAV per unit : SGD0.5162
:
:
:
: 1.50% p.a
: SGD1,000
:
:
Portfolio Duration* :
1 Month 12 Months
Highest (SGD) 0.5329 0.5451
Lowest (SGD) 0.5141 0.4988
(%)
1 0.00% 15.11.13 4.8%
2 3.15% 11.03.23 4.7%
3 5.13% 29.03.49 4.1%
4 3.15% 11.07.22 3.3%
5 3.10% 08.08.16 3.2%
** Foreign Bond
1
2
3
4
5
** Foreign Equity
4.44 Years
months.
0.4988
0.5451
2.6%
2.3%
2.2%
(1)
Maximum of 1.00% of the NAV per unit for any repurchase request of Units within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a
redemption.
Croesus Retail Trust**
3.0%
No Credit
Suntec Real Estate Invt Trust**
N/A
Income
Coupon
Maturity
Date
Top 5 Holdings (Bonds) as at 31 May 2013*
Singapore Treasury Bill**
Oversea-Chinese Banking**
Since Inception
Distribution Policy
SGD5,000
Hwang SGD Income Fund (SGD Class)
Fund Size SGD87.402 million
Launch Date / IOP
Mixed Assets
Subscription Cash
(2)
Repurchase Charge
(1)
70% 12-Month Singapore Banks
Average FD rate + 30% FTSE
Singapore's Straits Times Index
^^ A large portion of the SGD-denominated bond universe does not have credit rating.
01 August 2012/ SGD0.50
31 March
Bond
60.4%
Financials
14.3%
Consumer Goods
3.5%
Industrials
3.1%
Technology
1.7%
Consumer Services
0.7%
Cash & Cash
Equivalents
16.3%
Others^^
46.6%
AA
20.1%
AAA
12.6%
BBB
11.1%
A
9.1%
Cash
0.5%
An income driven, absolute return focused fund that endeavours to provide steady income distribution through investments
primarily in SGD-denominated assets.
[SGD Class - Represents a Class of Units denominated in Singapore Dollar (SGD)]
guarantee is given in its accuracy of completeness. The Prospectus dated 1 August 2012 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the
Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectus. Investors are advised to read
and understand the content of the Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well
as up. The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
:
:
: 2005 - 2.00 2010 - 2.50
2006 - 3.50 2011 - 2.53
2007 - 3.50 2012 - 2.03
2008 - 0.50 2013 - 1.00 Fund (%) -2.97 -2.87 -0.58 6.14 29.65 92.05
2009 - 2.50 Benchmark (%)^ 0.13 2.08 2.64 5.01 15.20 44.48
Portfolio Yield* : 4.75% Source : Lipper
1 Month 12 Months
Highest (RM) 0.6753 0.6836
Lowest (RM) 0.6436 0.6302
%
1 4.00% 12.07.22 3.2%
2 3.63% 28.02.23 2.9%
3 0.00% 04.07.13 2.6%
4 5.13% 29.03.49 2.2%
5 0.00% 11.07.13 2.0%
** Foreign Bond
1
2
3
4
5
** Foreign Equity
would be on quarterly basis.
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
Mixed Assets Other Conservative
6 January 2005 / RM0.50
N/A
Launch Date / IOP
Malayan Banking Bhd
31 December
: RM100
Subscription
January 2005 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
Currency Exposure for the Fund is shown after reflecting currency forward contracts
Fund Size
Minimum Subsequent
Investment
No Coupon
Currency Exposure as at 30 June 2013*
Distribution Policy
Cash
RM1,000
RM1,948.719 million
Intime Retails Group Co Ltd**
(1)
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 4.1 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.235 but not more than 7.890.
0.9%
* The data provided above is that of the Fund and is a percentage of NAV 30 June 2013. All figures are subject to frequent changes on a daily basis.
(NAV-NAV Prices)
Cumulative Return Over The Period (%) 20% FBM Top 100 Index + 80%
Maybank 12-Month Fixed
Deposit Rate
Income and Growth
0.4770
0.6836
(sen)
(1)
Since Inception
Nil Repurchase Charge
Westpac Banking Corp**
Credit
Maturity
Date
0.9%
Standard Chartered PLC**
0.9%
BNM Sukuk Bhd
Kasikornbank Public Co Ltd**
Bank Negara
1.1%
1.0%
Bond
70.4%
Financials
9.2%
Industrials
2.2%
Telecomm
1.8%
Consumer Services
1.6%
Utilities
0.9%
Health Care
0.5%
Oil & Gas
0.1%
Cash & Cash
Equivalents
11.2%
95
110
125
140
155
170
185
200
215
Jan 05 Sep 06 May 08 Jan 10 Oct 11 Jun 13
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Malaysia Ringgit
78.9%
Singapore Dollar
8.2%
Hong Kong Dollar
5.2%
US Dollar
2.7%
Thai Baht
2.3%
Indonesian Rupiah
1.7%
Philippine Peso
0.9%
Korean Won
0.1%
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as
growth, through mixture of investments in fixed income and equities globally with an Asian focus.
Benchmark^
SIF
guarantee is given in its accuracy of completeness. The Master Prospectus dated 18 July 2012 , First Supplemental Master Prospectus dated 1 September 2012 and Second Supplemental Master Prospectus dated
2 May 2013 have been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office. Units
will only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing. Among
others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative
of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
: 1.00% p.a.
:
:
: 2005 : 2.50 2010 : 1.50
2006 : 2.50 2011 : 2.50
2007 : 2.50 2012 : 2.50 Fund (%) -2.23 -2.09 -0.66 5.00 20.74 71.40
2008 : 1.75 2013 : 1.00 Benchmark (%)^ 0.26 0.79 1.56 3.17 9.48 38.72
2009 : 2.50 Source : Lipper
1 Month 12 Months
Highest (RM) 0.6273 0.6328
Lowest (RM) 0.6053 0.6018
Credit (%)
1 0.00% 23.07.13 5.0%
2 4.00% 12.07.22 3.1%
3 3.63% 28.02.23 2.8%
4 4.50% 03.05.18 2.6%
5 6.00% 29.12.49 2.5%
6 5.75% 19.10.15 2.2%
7 4.25% 17.10.19 2.1%
8 5.13% 29.03.49 2.0%
9 3.25% 20.09.22 1.9%
10 3.45% 08.08.22 1.9%
** Foreign Bond
1 95.7%
2 2.5%
3 1.2%
4 0.6%
Malaysia Ringgit
Singapore Dollar
Indonesian Rupiah
Chinese Yuan Renminbi
Hutchison Whampoa Intl**
Travellers Int Hotel Group
SM Investment Corp**
BNM Sukuk Bhd
Westpac Banking Corp**
Parkson Retail Group Ltd**
RM100
Bond MYR Cumulative Return Over The Period (%)
Income (NAV-NAV Prices)
Maybank 12-Month Fixed
Deposit Rate
0.4929
3 Year
Since
Inception
N/A
30 June
Distribution Policy
Subscription Cash
RM1,000
Minimum Subsequent
Investment
(1)
Based on the Fund portfolio returns as at 31 May 2013 , the VF for this Fund is 2.4 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.235 but not more than 7.890.
^^Foreign bonds rated either by Standard & Poor's or Moody's
Since Inception
No Coupon
Maturity
Date
Malayan Banking Bhd
Aus New Zealand Bank**
0.6328
(sen)
(1)
August 2003 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
Source: Lipper
1 Month 3 Month
Year to
Date 1 Year
:
Cash & Cash
Equivalents
15.8%
Banks
32.2%
Consumer Services
13.5%
Real Estate
10.7%
Industrials
7.8%
Government
6.5%
Insurance
3.6%
Consumer Goods
3.6% Oil & Gas
2.7%
Others
3.7%
95
110
125
140
155
170
185
Aug 03 Apr 05 Nov 06 Jul 08 Mar 10 Oct 11 Jun 13
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Others
26.5%
BBB^^
21.9%
Cash
15.8%
A^^
14.2%
AA^^
9.7%
BB^^
4.4%
B^^
3.5%
AAA
2.3%
AA
1.7%
A
0.1%
A global bond fund with Asian focus that seeks to provide a general level of income distribution and total
returns from MYR perspective.
SBondF
Benchmark^
guarantee is given in its accuracy of completeness. The Master Prospectus dated 18 July 2012 , First Supplemental Master Prospectus dated 1 September 2012 and Second Supplemental Master Prospectush
dated 2 May 2013 have been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office.
Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectuses before investing.
Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as
indicative of its future performance.
Fund Type :
Benchmark^
(1)
:
:
Maturity Date :
:
:
:
:
: 2006 : 2.70
2007 : 4.00
2008 : 3.25
2009 : 5.15
2010 : 2.26 Fund (%) 0.24 0.79 1.51 3.07 9.16 28.58
Portfolio Yield* : 3.59% Benchmark (%)^ 0.15 0.45 0.90 1.82 5.18 16.51
Portfolio Duration* 149 Days Source : Lipper
1 Month 12 Months
Highest (RM) 1.0197 1.0197
Lowest (RM) 1.0178 1.0021
1 56.1%
2 21.6%
3 6.7%
4 8.9%
5 6.7%
1.0516
0.9983
9 - 12 months
12 - 24 months
Maturity Profile as at 30 June 2013*
0 - 3 months
3 - 6 months
Income (NAV-NAV Prices)
Since
Inception
Maybank Overnight Repo Rate
April 2005 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
Source: Lipper
1 Month 3 Month
Year to
Date 1 Year 3 Year
Money Market Cumulative Return Over The Period (%)
Nil
Cash/EPF
Minimum Subsequent
Investment
: RM10,000
2013 : 0.63
Subscription
RM30,000
Launch Date / IOP 18 April 2005 / RM1.00
Nil
N/A
30 April
The Volatility Factor (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. The Fund's portfolio may have changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the
Based on the Fund portfolio returns as at 31 May 2013 , the VF for this Fund is 0.1 and is classified as Very Low (source : Lipper). Very Low includes funds with VF that are not more than 1.235.
Repurchase Charge
Since Inception
6 - 9 months
2011 : 2.11
2012 : 3.62
(sen)
would be on monthly basis.
P1
34.6%
Cash
24.6%
AA
17.4%
AAA
16.6%
A
6.7%
95
105
115
125
135
Apr 05 Aug 06 Jan 08 May 09 Sep 10 Jan 12 Jun 13
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A money market fund that targets to provide enhanced yields over deposit rates while providing a high
level of liquidity.
Benchmark^
EDF
guarantee is given in its accuracy of completeness. The Master Prospectus dated 31 March 2013 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy
of the Master Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Master Prospectus. Investors ar
advised to read and understand the content of the Master Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any,
may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
:
: 2003 - 5.00 2010 - 3.00
2004 - 8.00 2011 - 5.00
2005 - 6.00 2012 - 3.10
2006 - 4.00 2013 - 10.00 Fund (%) -2.56 13.03 15.79 24.38 68.12 352.87
2007 - 6.00 Benchmark (%)^ -0.88 8.25 6.72 11.74 40.28 166.83
2009 - 3.00
1 Month 12 Months
Highest (RM) 1.1133 1.1133
Lowest (RM) 0.9597 0.8729
1
2
3
4
5
6
7
8
9
10
1 Equities
2 Cash & Cash Equivalents
**Shariah-compliant Financials which is inclusive of Property and REITs.
31.0%
69.0%
3.6%
3.6%
3.5%
3.4%
3.4%
3.0%
2.9%
2.9%
Hwang AIIMAN Growth Fund
0.4652
1.1133
Petronas Gas Berhad
KLCC Property Holdings Bhd
Sapura Kencana Petroleum Bhd
Dialog Group Bhd
Gas Malaysia Bhd
(1)
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 11.0 and is classified as High (source: Lipper). High includes Funds with VF that are above 10.440 but not more than 12.835.
Since
Inception
UOA Development Bhd
Axiata Group Bhd
2.7%
2.7%
Since Inception
Dayang Enterprise Hldgs Bhd
3 Month
Year to
Date 1 Year 3 Year
RM1,000
Minimum Subsequent
Investment
: RM100
Growth
(NAV-NAV Prices)
Equity Malaysia-Islamic
Cumulative Return Over The Period (%) FBM Emas Shariah Index
Launch Date / IOP 8 October 2002 / RM0.50
Digi.com Berhad
Tenaga Nasional Bhd
October 2002 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
1 Month
- Max 6.50% of the NAV Unit
for cash sales
- Max 3.00% of the NAV Unit
for EPF sales
N/A
31 August
(sen)
(1)
Oil & Gas
19.4%
Financials**
10.8%
Telecomm
10.3%
Consumer Goods
9.3%
Industrials
6.5%
Technology
3.6%
Utilities
3.4%
Other
3.2%
Consumer Services
2.5%
Cash & Cash
Equivalents
31.0%
90
140
190
240
290
340
390
440
490
Oct 02 Jul 04 Apr 06 Feb 08 Nov 09 Sep 11 Jun 13
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(
%
)
guarantee is given in its accuracy of completeness. The Master Prospectus dated 8 October 2012 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy
of the Master Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Master Prospectus. Investors
are advised to read and understand the content of the Master Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if
any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Benchmark^
AGF
A total return fund that aims for capital appreciation through investment in Shariah-compliant Malaysian
equities.
Fund Type :
Benchmark :
:
Maturity Date :
:
:
:
Annual Management Fee : 1.20% per annum
:
:
1 Month 12 Months
Highest (RM) 0.5305 0.5341
Lowest (RM) 0.5170 0.5000
%
1 0.00% 11.07.13 15.3%
2 0.00% 16.07.13 10.2%
3 3.49% 31.10.23 5.0%
4 0.00% 04.07.13 4.1%
5 5.10% 18.06.22 2.7%
1
2
3
4
5
** Foreign Equity
Credit
Maturity
Date
1.0%
BNM Sukuk Bhd
1.2%
GULF Investment Corp
Alam Sutera Realty Tbk Pt**
BNM Sukuk Bhd
Government Invt Issue
1.2%
BNM Sukuk Bhd
1.2%
Pt Telekomunikasi Indonesia**
Comfortdelgro Corporation Ltd**
Income
1.0%
* The data provided above is that of the Fund and is a percentage of NAV 30 June 2013. All figures are subject to frequent changes on a daily basis.
Distribution Policy
No Coupon
RM1,000
RM195.625 million
Top 5 Holdings (Sukuk) as at 30 June 2013*
Minimum Subsequent
Investment
0.5000
0.5341
Since Inception
Singapore Telecom Ltd**
31 March
: RM100
Subscription
Fund Size
Nil Repurchase Charge
Hwang AIIMAN Select Income Fund
Mixed Assets MYR Conservative
1 March 2013 / RM0.50
70% 12-month Maybank General
Investment Account (GIA) + 30%
FTSE Bursa Malaysia EMAS
Shariah Index (FBMSHA)
Launch Date / IOP -Not applicable as the Fund is less than one year-
N/A
Cash
Bond
61.5%
Telecomm
6.2%
Financials
3.8%
Oil & Gas
3.2%
Consumer Services
2.2%
Industrials
2.1%
Technology
1.8%
Utilities
1.0%
Health Care
0.8%
Cash & Cash
Equivalents
17.3%
Ringgit Malaysia
90.3%
Indonesia Rupiah
2.9%
Singapore Dollar
2.3%
Philippine Peso
2.2%
Thai Bhat
1.3%
Hong Kong Dollar
1.1%
An income and absolute return focused fund that aims to provide regular income stream through investment in sukuk and
Shariah-compliant equities.
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
:
:
: 2006 - 2.00
2007 - 4.00
2008 - 4.00
2009 - 2.00 Fund (%) -0.11 1.10 2.04 4.34 19.40 76.91
2010 - 4.00 Benchmark (%)^ 0.26 0.79 1.57 3.20 9.59 52.24
Portfolio Yield* : 3.48% Source : Lipper
1 Month 12 Months
Highest (RM) 0.5681 0.5701
Lowest (RM) 0.5615 0.5589
(%)
1 4.65% 03.03.22 5.3%
2 4.30% 29.01.16 4.2%
3 4.30% 08.12.17 3.7%
4 4.50% 12.07.24 3.5%
5 5.00% 05.10.17 3.5%
6 5.25% 01.03.16 2.9%
7 4.40% 30.09.21 2.8%
8 7.27% 28.10.27 2.6%
9 4.66% 14.08.20 2.5%
10 6.68% 29.04.22 2.0%
(1)
As at 15 April 2010, the Benchmark was replaced by the 12-month Maybank General Investment Account (GIA) rate as the Fund assumed its new mandate.
12-month Maybank General
Investment Account (GIA)
rate
2012 - 2.25 Performance Table as at 30 June 2013*
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
Malakoff Power Bhd
Konsortium Lebuh Utara
Tanjung Bin Power Sdn Bhd
Edaran SWM Sdn Bhd
GULF Investment Corp
Credit
Bond Cumulative Return Over The Period (%)
RM1,000
:
Income
Coupon
Subscription Cash
Maturity
Date
AmIslamic Bank Bhd
Abu Dhabi National Energy Co
Noble Group Ltd
First Resource Ltd
Axis REIT Sukuk Bhd
(NAV-NAV Prices)
(2)
No
Launch Date / IOP 28 June 2004 / RM0.50
N/A
31 August
Fund Size
RM287.489 million
0.4350
0.6280
Hwang AIIMAN Income Plus Fund
Since Inception
Top 10 Holdings (Sukuk) as at 30 June 2013*
July 2004 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
RM100
(2)
2013 - 1.00
Utilities
30.0%
Industrials
30.7%
Cash & Cash
Equivalents
18.0%
Real Estate
5.1%
Financial Services
3.7%
Technology
3.1%
Banks
2.9%
Oil & Gas
1.3%
Government
1.1%
AA
64.2%
Cash
18.0%
AAA
13.9%
A
2.9%
SOV
1.1%
95
105
115
125
135
145
155
165
175
185
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A local sukuk fund that looks to provide a total returns over the medium to long term as well as a regular income
distributions.
(1)
Benchmark^
AIPF
This document is prepared by Hwang Investment Management Berhad for information only. The information contained herein has been obtained from sources believed in good faith to be reliable; however,
no guarantee is given in its accuracy of completeness. The Master Prospectus dated 8 October 2012 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A
copy of the Master Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Master Prospectus.
Investors are advised to read and understand the content of the Master Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution
payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
:
:
Benchmark^ :
:
Maturity Date :
:
Subscription : Cash
: RM10,000
Income Distribution
(1)
: N/A
Fund (%) -6.02 -1.26 7.08 16.21 N/A 13.10
Benchmark (%)^ -7.82 -6.71 -9.17 0.84 N/A -11.12
Source : Lipper
1 Month 12 Months
Highest (RM) 0.5985 0.6031
Lowest (RM) 0.5570 0.4741
1 Tencent Holdings Ltd**
2 China Resources Gas Gp Ltd**
3 China Machinery Engineering**
4 Microport Scientific Corp**
5 Ind & Comm Bank Of China**
** Foreign Equity
(1)
The Fund is not expected to make distribution.
Hwang China Select Fund
Source: Lipper
0.4688
0.6031
80% MSCI China Index + 20%
China Securities Index 300
Citigroup First Investment
Management Litimited
N/A
31 December
Target Fund Country Allocation as at 31 May 2013#
RM44.356 million
3 Year
4.4%
Minimum Subsequent
Investment
Target Fund Manager
Target Fund
Sub-Manager
China Asset Management (Hong
Kong) Limited
Fund Size
6.8%
5.8%
4.5%
#The Target Fund Country Allocation, Target Fund Sector Allocation and Target Fund Top 5 Holdings above are that of the Fund by Citigroup First Investment Management Ltd (CFIM) and are a percentage of NAV
of the Target Fund as at 31 May 2013 as the data is provided by the Target Fund Manager after HwangIM publication cut-off date. Please note that asset exposure for the Target Fund is subject to frequent
changes on a daily basis.
Feeder Fund (Wholesale) Cumulative Return Over The Period (%)
Since
Inception
Year to
Date
Target Fund Sector Allocation as at 31 May 2013#
1 Year
Since Inception
4.1%
Target Fund Top 5 Holdings as at 31 May 2013#
1 Month 3 Month
Cons. Discretionary
3.8%
Financial
15.4%
Consumer Staples
11.5%
Energy
8.2%
Information
Technology
14.4%
Utilities
14.1%
Health Care
18.8%
Industrials
13.0%
Cash & Cash
Equivalents
0.9%
China A-Share
34.7%
Hong Kong H-Share
63.9%
China B-Share
0.5%
Cash & Cash
Equivalent
0.9%
70
80
90
100
110
120
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A feeder fund that provides exposure into the Chinese economy through investments into companies which derive their profits
from mainland China by investing into companies on official stocks markets in Hong Kong, China (A-Share and B-Share
markets), United States, Taiwan, Singapore and other countries.
Benchmark^
CSF
guarantee is given in its accuracy of completeness. The Prospectus dated 11 July 2011 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the
Fund Type :
Benchmark^ : Average of 4 cmmdty indices
1.Rogers Int Cmmdty Index
2.S&P GSCI Index
3.Dow-Jones AIG Cmmdty Index
4.Reuters/Jefferies-CRB Index
:
Maturity Date :
:
:
: Up to 1.80% p.a
Fund (%) -1.32 -8.61 -10.25 -6.99 7.95 -16.12
Benchmark (%)^ -0.34 -5.55 -4.33 -2.78 6.70 -20.91
Source : Lipper
: N/A
1 Month 12 Months
Highest (RM) 0.4368 0.5184
Lowest (RM) 0.4180 0.4159
1 WTI Crude Oil 13.9%
2 Brent Crude Oil 8.8%
3 Natural Gas 6.7%
4 Soybeans 6.2%
5 Corn 6.0%
** Foreign Equity
1
(1)
*The data provided above are that of the Fund and are a percentage of NAV as at 30 June 2013. All figures are subject to frequent changes on a daily basis.
#The data provided above are that of Schroder Alternative Solutions Commodity Fund (Target Fund) and are a percentage of NAV of the Target Fund as at 31 May 2013 as the data is provided by the Target
Fund Manager after HwangIM publication cut-off date. Please note that asset exposure for the Target Fund is subject to frequent changes on a daily basis.
Closed for purchase
Repurchase Charge : 1.00% of NAV per Unit redeemed
within the first 6 months from the
date of investment. No Charge
during the cooling-off period
Asset Allocation as at 31 May 2013#
Target Fund Asset Allocation as at 31 May 2013#
Target Fund Top 5 Holdings as at 31 May 2013#
Launch Date / IOP 20 August 2007 / RM0.50
Income Distribution
(1)
September 2007 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
N/A
30 April
Subscription
Hwang Global Commodity Fund
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 15.4 and is classified as Very High (source : Lipper). Very High includes funds with VF that are above 12.835.
Target Fund Manager : Schroder Investment
Management Limited
Feeder Fund (Wholesale) Cumulative Return Over The Period (%)
Cash
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
Schroder Alternative Solutions
Commodity Fund 99.4%
Since Inception
0.3469
0.7174
50
70
90
110
130
150
170
Sep 07 Aug 08 Aug 09 Jul 10 Jul 11 Jun 12 Jun 13
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A feeder fund that targets to capture the growth of global commodity markets through investment in
commodity related instruments.
GCF
Benchmark^
Metals
22.9%
Cash & Cash
Equivalents
6.7%
Agriculture
32.1%
Energy
38.3%
guarantee is given in its accuracy of completeness. The Information Memorandum dated 11 April 2009 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A
copy of the Information Memorandum can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Information
Memorandum. Investors are advised to read and understand the content of the Information Memorandum before investing. Among others, Investors should consider the fees and charges involved. The price of
Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Fund Type :
Sub-Manager :
Benchmark^ :
:
Maturity Date :
:
:
:
: 1.50% p.a Fund (%) -3.50 0.71 5.06 17.60 17.24 21.34
Minimum Investment : Benchmark (%)^ -1.42 2.86 11.21 24.92 23.03 -17.52
Source : Lipper
: - 1st year
- 2nd year Sector Allocation as at 30 June 2013*
- 3rd year
- 4th year
- 5th year
Nil
: N/A
1 Month 12 Months
Highest (RM) 0.6259 0.6328
Lowest (RM) 0.6028 0.5119
1
2
3
4
5
6
7
8
9
10
** Foreign Equity
(1)
JPMorgan Chase & Co**
5.2%
5.0%
4.6%
AIA Group Ltd**
Prudential Plc**
6.5%
5.6%
5.3%
1.00%
0.50%
- At maturity date
Income Distribution
(1)
0.3624
0.6328
9.7%
9.4%
Repurchase Charge 2.50%
(from the Commencement Date of
the Fund)
2.00%
1.50%
RHB Capital Bhd
Wells Fargo & Company**
Bank Of Ayudhya Public Co Ltd** 4.3%
5.2%
RM1,000
Initial Sales Charge 5.50% of the NAV per Unit
Subscription Cash
Minimum Subsequent
Investment
: RM100
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 12.3 and is classified as High (source : Lipper). High includes funds with VF that are above 10.440 but not more than 12.835.
b) the 10th business day
immediately following the date
on which the Average NAV per
Unit has reached the Target
NAV corresponding to the
relevant period.
30 September
Nikko Asset Management Asia
Ltd (Nikko AM Asia)
HSBC Holdings PLC**
Since Inception
Jun 2008 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund,
Source: Lipper
MSCI World / Finance Index
10 July 2008 / RM0.50 Launch Date / IOP
a) the 5th anniversary of the
Commencement Date (i.e. 31
July 2013).
(Provided always that the Maturity
Date shall not be a date earlier than
and including the 2nd anniversary of
the Commencement Date.)
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
Financials
70.1%
Cash & Cash
Equivalents
29.9%
30
60
90
120
150
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(
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Cash & Cash
Equivalents
29.9%
Indonesia
2.9%
Thailand
4.3%
UK
5.6%
Malaysia
US
14 4%
Singapore
14.6%
Hong Kong
15.0%
An absolute return and unconstrained fund that targets to provide a potential high level of capital
appreciation through opportunistic investment within the global financial institutions sector.
GFIF
Benchmark^
guarantee is given in its accuracy of completeness. The Prospectus dated 10 July 2009 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the
Fund Type :
Benchmark^ :
:
Maturity Date :
:
:
:
: Incidental
Fund (%) -5.05 1.89 9.96 29.84 38.39 39.08
Benchmark (%)^ 0.63 1.94 3.89 8.00 26.00 52.49
MSCI World (%) 0.01 2.81 11.45 16.79 35.60 -9.71
Historical NAV as at 30 June 2013 Source : Lipper
1 Month 12 Months
Highest (RM) 0.7275 0.7377 Sector Allocation as at 30 June 2013*
Lowest (RM) 0.6867 0.5395
1 Allianz Malaysia Berhad
2
3
4
5
6
7
8
9
10
** Foreign Equity
1 Equities 51.1%
(1)
Crescendo Corporation Berhad
Bangkok Chain Hospital Pcl**
Cebu Holdings Inc** 2.7%
2.8%
AIA Group Ltd**
1.00% of NAV per Unit
redeemed within the 6 months
from the date of investment.
January 2008 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
Subscription Cash
RM30,000
Minimum Subsequent
Investment
: RM10,000
Absolute return of 8% per
annum
2.8%
2.8%
18 December 2007 / RM0.50
N/A
31 May
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 17.0 and is classified as Very High (source: Lipper). Very High includes Funds with VF that are above 12.835.
for qualified funds. The Fund's portfolio may have changed since this date and there is no guaranteed 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.
Growth
Glow Energy Pcl**
Thai Airways International Pcl**
Repurchase Charge
Malaysian Bulk Carriers Bhd
Cocoaland Holdings Bhd
Hwang Absolute Return Fund II
0.3687
0.7377
4.6%
Since
Inception
Income Distribution
(1)
(NAV-NAV Prices)
Launch Date / IOP
3 Month
Year to
Date 1 Year 3 Year
2.9%
1 Month
3.1%
Since Inception
3.5%
3.4%
3.2%
Financials
18.9%
Industrials
11.7%
Consumer Goods
7.1%
Consumer Services
2.9% Utilities
2.8%
Health Care
2.8%
Telecomm
2.5%
Technology
2.5%
Cash & Cash
Equivalents
48.9%
s
40
65
90
115
140
165
Jan 08 Dec 08 Oct 09 Sep 10 Aug 11 Jul 12 Jun 13
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Malaysia
22.4%
Thailand
10.4%
Philippine
7.1%
Hong Kong
5.9%
Indonesia
5.3%
Cash & Cash
Equivalents
48.9%
A thematically driven and unconstrained mixed asset fund that seeks to provide total returns through
investments globally, across all sectors and asset classes.
Benchmark^
ARF II
MSCI World
no guarantee is given in its accuracy of completeness. The Information Memorandum dated 27 May 2010has been registered with the Securities Commission Malaysia, who takes no responsibility for its
contents. A copy of the Information Memorandumcan be obtained at our office or any of our sales office . Units will only be issued upon receipt of an application form referred to in and accompanying the
Information Memorandum. Investors are advised to read and understand the content of the Information Memorandum before investing. Among others, Investors should consider the fees and charges
:
Benchmark^ :
:
Maturity Date :
:
:
: 1.20% p.a
Fund (%) -0.25 0.15 4.10 4.66 13.53 18.99
: Nil Benchmark (%)^ 0.40 3.94 14.14 15.21 44.55 69.08
Source : Lipper
1 Month 12 Months
Highest (RM) 1.2047 1.2056
Lowest (RM) 1.1825 1.1166
(1)
The Fund is not expected to make distribution. However, incidental distribution may be declared whenever is appropriate
Since
Inception
0.9884
1.2056
Income Distribution
(1)
Minimum Subsequent
Investment
80% Preservation Level/Date of Highest NAV Achieved as at
30 June 2013*
3 Year
31 August
Fund Size
Subscription Cash
RM4.354 million
RM0.9645 per unit / 21 May 2013
1 Month
Effective Exposure to S&P 500 Index as at
30 June 2013*
83%
Since Inception
3 Month
Launch Date / IOP
March 2009 to 30 June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
: RM100
Repurchase Charge : 1.00% of NAV per Unit
redeemed within the first 6
months from the date of
investment. No Charge during
the cooling-off period
Year to
Date 1 Year
RM1,000
Growth (NAV-NAV Prices) Fund Type
12 March 2009 / RM1.00
N/A
20% of 12-Month Maybank
Fixed Deposit Rate and 80% of
S&P 500 Index
Hwang US Access 80 Fund
Based on the Fund portfolio returns as at 31 May 2013, the VF for this Fund is 5.2 and is classified as Low (source: Lipper). Low includes Funds with VF that are above 1.235 but not more than 7.890.
75
95
115
135
155
175
195
Mar 09 Jan 10 Nov 10 Sep 11 Aug 12 Jun 13
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Barclays Structured
Product
11.5%
Barclays OTC
Options
7.0%
Cash & Cash
Equivalents
81.6%
A growth orientated fund that seeks to provide a managed exposure to the S&P 500 Index while preserving
80% of the Fund's highest ever achieved daily NAV.
USA80
Benchmark^
no guarantee is given in its accuracy of completeness. The Prospectus dated 12 March 2013 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy
of the Prospectus can be obtained at our office or any of our sales office. Units will only be issued upon receipt of an application form referred to in and accompanying the Prospectus. Investors are advised to
read and understand the content of the Prospectus before investing. Among others, Investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down
as well as up. The past performance of the Fund should not be taken as indicative of its future performance.
Hwang Fixed Maturity Income Fund III
Fund Type :
Benchmark^ : 36-Month Maybank Fixed Deposit Rate
:
Maturity Date :
:
:
: Nil
: - 1st year 3.00%
- 2nd year 2.00%
- 3rd year 1.00%
- At maturity Nil
:
2012 - 4.635
Fund (%) -1.60 -0.71 0.79 4.50 N/A 13.95
1 Month 12 Months
Benchmark (%)^ 0.27 0.81 1.62 3.30 N/A 5.80
Highest (RM) 1.1111 1.1154 Source : Lipper
Lowest (RM) 1.0896 1.0671
No Credit Coupon Maturity Date (%)
1 6.00% 29.12.49 17.57%
2 5.13% 29.03.49 17.29%
3 2.34% 29.04.14 16.64%
4 9.50% 29.06.49 12.80%
5 2.60% 20.12.13 7.12%
Hwang Fixed Maturity Income Fund IV
Fund Type :
:
Maturity Date :
:
:
: Nil
: - 1st year 3.00%
- 2nd year 2.00%
- 3rd year 1.00%
- At maturity Nil
:
2012 - 4.64
1 Month 3 Month
Year to
Date 1 Year 3 Year
Since
Inception
1 Month 12 Months
Fund (%) -1.57 -0.64 1.91 7.20 N/A 15.84
Highest (RM) 1.1290 1.1337 Benchmark (%)^ 0.27 0.81 1.62 3.30 N/A 5.24
Lowest (RM) 1.1054 1.0786 Source : Lipper
1 9.50% 29.06.49 19.44%
2 6.13% 14.11.20 18.76%
3 6.00% 29.12.49 17.22%
4 2.60% 20.12.13 9.02%
5 5.10% 20.09.14 6.67%
1.0000
1.1337
**Foreign Bond
Since Inception
ADARO**
Standard Chartered Bank**
Theta Capital Pte Ltd**
Asset Allocation as at 30 June 2013* Top 5 Holdings (Bonds) as at 30 June 2013*
(NAV-NAV Prices) Income
06 September 2011 / RM1.00
RM132.860 million
10 October 2014
31 May
Subscription Cash
Closed for purchase
Repurchase Charge
(from the commencement Date of
the Fund)
(sen)
(1)
Fund Size
31 May
RM104.905 million
Bond (closed-ended) Cumulative Return Over The Period (%)
Subscription
Launch Date / IOP
Closed for purchase
Cash
Fund Size
Repurchase Charge
the Fund)
(sen)
(1)
0.9995
(1)
Distribution of income, if any, would be on annual basis and where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-
distribution NAV to ex-distribution NAV.
December 2011 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund, gross
investment based in RM. The value of units may go down as well as up. Past performance is not indicative of
future performance.
Source: Lipper
Since Inception
ICICI Bank Limited**
Standard Chartered Bank**
(NAV-NAV Prices)

October 2011 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the Fund, gross
investment based in RM. The value of units may go down as well as up. Past performance is not indicative of
future performance.
Source: Lipper
Since
Inception 1 Year 1 Month 3 Month
Year to
Date 3 Year
1.1154
05 December 2014
Bond (closed-ended)
Income
Launch Date / IOP 08 November 2011 / RM1.00
Bonds
90.71%
Cash & Cash
Equivalents
9.29%
95
100
105
110
115
120
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Benchmark^
FMIF3
95
100
105
110
115
120
Dec 11 Feb 12 Apr 12 Jul 12 Sep 12 Nov 12 Jan 13 Apr 13 Jun 13
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Benchmark^
FMIF4
Bonds
87.1%
Cash & Cash
Equivalents
12.9%
A 3-year, closed-ended global bond fund with a principal hold-to-maturity strategy that targets to provide stable levels of annual coupons with the potential
for a bonus coupon at Maturity (in MYR terms).
A 3-year, closed-ended global bond fund with a principal hold-to-maturity strategy that targets to provide stable levels of annual coupons with the
potential for a bonus coupon at Maturity (in MYR terms).
The Prospectus for Hwang Fixed Maturity Income Fund III dated 6 September 2011 and Hwang Fixed Maturity Income Fund IV dated 8 November 2011 have been registered with the Securities Commission Malaysia, who takes
no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or any of our sales office. The price of Units and distribution payable, if any, may go down as well as up. Please note that the Fund is
not capital protected or capital guaranteed fund. Among others, investors should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance. The document is prepared for
information purpose only.
Hwang Fixed Maturity Income Fund V
Fund Type :
:
Maturity Date :
:
:
: Nil
: - 1st year 3.00%
- 2nd year 2.00%
- 3rd year 1.00%
- At maturity Nil
: Annual basis
1 Month 12 Months
Highest (RM) 1.0754 -
Lowest (RM) 1.0540 -
No Coupon
y
Date (%)
1 9.65% 03.08.17 16.8%
2 5.13% 29.03.49 16.6%
3 5.49% 17.03.49 15.2%
4 5.88% 17.12.14 14.0%
5 9.50% 07.04.16 9.5%
** Foreign Bond
Hwang Fixed Maturity Income Fund VI
Fund Type :
:
Maturity Date :
:
:
: Nil
: - 1st year 3.00%
- 2nd year 2.00%
- 3rd year 1.00%
- At maturity Nil
: Annual basis
1 Month 12 Months
No Coupon
Maturity
Date (%)
1 5.13% 12.09.17 17.1%
2 6.80% 01.06.17 15.9%
3 8.00% 24.09.16 10.7%
4 6.41% 30.01.17 9.7%
5 9.50% 07.04.16 8.8%
** Foreign Bond
Repurchase Charge
the Fund)
Credit
Distribution Policy
(1)
1.0815
Closed for purchase
Closed for purchase
PCI Capital Ltd**
Since Inception
Shimao Property Hldg Ltd**
Cash
National Aus Bank Ltd**
1.0000
Longfor Properties Co Ltd**
Income
9 April 2016
* The Asset Allocation, Performance Record and Performance Table above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures are subject to frequent changes on a daily basis.
Bond (closed-ended)
QBE Capital Funding II LP**
National Aus Bank Ltd**
Longfor Porperties Co Ltd**
Bond (closed-ended)
Income
Launch Date / IOP 25 March 2013/ RM1.00
31 May
Subscription
Subscription Cash
Launch Date / IOP 24 September 2012 / RM1.00
18 October 2015
31 May
Repurchase Charge
the Fund)
Distribution Policy
(1)
(1)
Since Inception
1.0470
1.0000
Credit
Bonds
95.6%
Cash & Cash
Equivalents
4.4%
The Prospectus for Hwang Fixed Maturity Income FundV and Hwang Fixed Maturity Income Fund VI dated 24 September 2012 and 25 March 2013 repectively have been registered with the Securities Commission Malaysia,
who takes no responsibility for its contents. A copy of the Prospectus can be obtained at our office or any of our sales office. The price of Units and distributionpayable, if any, may go down as well as up. Please note that
the Fund is not capital protectedor capital guaranteed fund. Among others, investors should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance. The document is
prepared for information purpose only.
Cash & Cash
Equivalents
2.7%
Bonds
97.3%
Hwang Fixed Maturity Income Fund VII
Fund Type :
:
Maturity Date :
:
:
: Nil
: - 1st year 3.00%
- 2nd year 2.00%
- 3rd year 1.00%
- At maturity Nil
:
Annual basis
1 Month 12 Months
1 6.00% 28.10.25 16.05%
2 4.75% 25.11.16 12.30%
3 6.62% 02.11.15 11.89%
4 6.41% 30.01.17 11.74%
5 8.88% 28.04.17 11.66%
ICICI Bank Ltd**
1.0152
(1)
Since Inception
SBB Capital Corp**
Agile Property Holdings Ltd**
Fund Size
Repurchase Charge
the Fund)
Distribution Policy
(1)
0.9832
Bond (closed-ended)
Subscription
Launch Date / IOP
Closed for purchase
Cash
Income
28 May 2013 / RM1.00
RM134.831 million
12 June 2016
30 September
**Foreign Bond
Bonds
96.3%
Cash & Cash
Equivalents
3.7%
A 3-year, closed-ended global bond fund with a principal hold-to-maturity strategy that targets to provide stable levels of annual coupons with the potential
for a bonus coupon at Maturity (in MYR terms).
The Prospectus for Hwang Fixed Maturity Income Fund VII dated 28 May 2013 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A copy of the Prospectus can be obtained
at our office or any of our sales office. The price of Units and distribution payable, if any, may go down as well as up. Please note that the Fund is not capital protected or capital guaranteed fund. Among others, investors
should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance. The document is prepared for information purpose only.
Hwang Structured Income Fund V
Fund Type :
:
Launch Date / IOP :
Maturity Date
:
:
:
:
Repurchase Charge :
-Not applicable on Maturity Date.
2012 - 4.3101 Fund (%) -1.20 0.17 0.10 15.10 N/A 6.35
2013 - 1.4211 Benchmark (%)^ 0.26 0.78 1.55 3.15 N/A 3.97
: Malaysia Ringgit (RM)
Source : Lipper
: 5.70% p.a on nett investment amount.
Hwang Structured Income Fund VI
Fund Type :
Benchmark^ :
:
Launch Date / IOP :
Maturity Date :
:
:
:
Repurchase Charge :
-Not applicable on Maturity Date.
2012 - 3.0082 Fund (%) 0.37 0.14 0.32 9.18 N/A 7.94
2013 - 2.9918 Benchmark (%)^ 0.26 0.78 1.55 3.15 N/A 3.25
: Malaysia Ringgit (RM) Source : Lipper
: 6.0% p.a on nett investment amount.
4. HSBC Bank
5. PTT Thailand
3. Commonwealth Bank of Australia 6. Telefonica SA
Performance Record as at 30 June 2013
The Information Memorandum(IM) for Hwang Structured Income Fund V dated 8 February 2012 and Hwang Structure Income Fund VI dated 16 May 2012 has been registered with the Securities Commission Malaysia who
takes no responsibility for its Contacts. A copy of the IMccan be obtained at our office or any of our sales office. The price of Units and distributionpayable, if any, may go down as well as up. Please note that the Fund is not
capital protected or capital guaranteed fund. Among others, investors should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance. The document is prepared for
Closed for purchase
June 2012 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Fund, gross investment based in RM. The value of units may go down as well as up. Past
Source: Lipper
(1)
Distribution of income, if any, would be on quarterly basis and where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-
2. Berkshire Hathaway
Coupon Rate
Composition of Underlying Credit Basket
Cash
Nil
:
Structured Product Currency
(1)
* The Asset Allocation, Performance Record and Performance Table above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures are subject to frequent changes on a daily basis.
1 Year 3 Year
Since
Inception
1. Bank of Tokyo Mitsubishi UFJ
(1)
Structured Product (closed-ended)
Year to
Date 1 Year 3 Year
Income
- 5.0% from the commencement date up
to the day before the Maturity Date.
12-Month Maybank Fixed Deposit Rate
3 Month
Subscription
Structured Product Currency
1 Month
Closed for purchase
8 February 2012 / RM1.00
OCBC Bank (M) Bhd
Cash
Nil
31 March
Fund Size
Composition of Underlying Credit Basket
Coupon Rate
(NAV-NAV Prices)
Cumulative Return Over The Period (%) Structured Product (closed-ended)
Income
30 March 2015 or earlier if an Early Call
Event is triggered or occurrence of a
Default Event.
Since
Inception
5. Prudential PLC
20 June 2015 or earlier if an Early Call
Event is triggered or occurrence of a
Default Event.
RM396.503 million
(NAV-NAV Prices)
31 October
Year to
Date 3 Month
Structured Product Issuer OCBC Bank (M) Bhd
Performance Table as at 30 June 2013
1 Month
March 2012 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Fund, gross investment based in RM. The value of units may go down as well as up. Past
Source: Lipper
1. Standard Chartered Bank 4. Swire Pacific Ltd
2. Capitaland Ltd
:
- 5.0% from the commencement date up
to the day before the Maturity Date.
3. Telefonica S.A 6. Reliance Industries Ltd
Structured Product Issuer
Subscription
16 May 2012 / RM1.00
80
90
100
110
120
Mar 12 Jun 12 Aug 12 Nov 12 Jan 13 Apr 13 Jun 13
I
n
d
e
x
e
d

P
e
r
f
o
r
m
a
n
c
e

(
%
)
Benchmark^
STRIFIV
OCBC Structured
Product
96.9%
Cash & Cash
Equivalents
3.1%
A 3-year, closed-ended fund that seeks to provide stable levels of calendar quarterly coupons through structured product investments linked to quality Global
corporate credits.
OCBC Structured
Product
97.5%
Cash & Cash
Equivalents
2.5%
90
94
98
102
106
110
114
Jun 12 Aug 12 Oct 12 Dec 12 Feb 13 Apr 13 Jun 13
I
n
d
e
x
e
d

P
e
r
f
o
r
m
a
n
c
e

(
%
)
Benchmark^
STRIFVI
A 3-year, closed-ended fund that seeks to provide stable levels of calendar quarterly coupons through structured product investments linked to quality Global
corporate credits.
Hwang Tactical Opportunity Capital Protected Fund
Fund Type
(1)
:
Benchmark :
:
Maturity Date :
:
(2)
:
:
: 0.30% p.a
: - 1st year 1.50%
- 2nd year 1.20%
- 3rd year 0.90%
- 4th year 0.60%
- 5th year 0.30%
- At maturity Nil Fund (%) -0.16 -0.44 -2.04 2.55 1.38 -0.60
:
N/A Benchmark (%)^ 0.26 0.79 1.56 3.17 9.48 10.79
Source : Lipper
1 Hang Seng China Enterprise Index (HSCEI)
2 RICI Enchanced Excess Return Index (RICI)
3 S&P/ASX 200 Index (ASX200)
(1)
The Fund is NOT capital guaranteed fund and is subject to the credit/ default risk of the issuers of ZNIDs.
(2)
The sales charge is not negotiable
Since
Inception
9 March 2015
31 May
The Prospectus for Hwang Tactical Opportunity Capital Protected Fund dated 13 January 2010 has been registered with the Securities Commission Malaysia who takes no responsibility for its Contacts. A copy
of the Prospectus can be obtained at our office or any of our sales office. The price of Units and distribution payable, if any, may go down as well as up. Please note that the Fund is not capital protected or
capital guaranteed fund. Among others, investors should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance. The document is prepared for
Cash
1 Month 3 Month
Year to
Date 1 Year
Capital Protected (NAV-NAV Prices)
Fixed Income (closed-ended) Cumulative Return Over The Period (%)
Closed for purchase
Repurchase Charge
Income Distribution
3 Year
Composition of Underlying Index Basket
March 2010 to June 2013 NAV-NAV prices and assuming reinvestment of distributions into the
Source: Lipper
* The Asset Allocation, Performance Record and Performance Table above are that of the Fund and are a percentage of NAV as at 30 June 2013 . All figures are subject to frequent changes on a daily basi
Subscription
Maybank 12-Month Fixed Deposit Rate
Launch Date / IOP 13 January 2010 / RM1.00
3.00% of NAV per Unit
OTC Option
1.6%
ZNIDs
98.2%
Cash & Cash
Equivalents
0.2%
90
95
100
105
110
115
Jan 10 Jul 10 Jan 11 Jul 11 Dec 11 Jun 12 Dec 12 Jun 13
I
n
d
e
x

P
e
r
f
o
r
m
a
n
c
e

(
%
)
A dynamic, capital-protected fund with a maximum maturity of 5 years, that aims to achieve growth through investments into an option that seeks to
provide exposure to the growth of China and its influence towards commodity markets and Australia.
Benchmark^
TOCPF
Fund Acronym Fund Name
GFIF
SAOF
SAQF
SBalF
SBoF
SDF
SGDIF
SIF
SOF
StrIF V
StrIF VI
ToCP
USA80
Global Financial Institutions Fund
Select Asia (ex-Japan)
Opportunity Fund
Select Bond Fund
SGD Income Fund
Select Income Fund
Structured Income Fund V
Structured Income Fund VI
Tactical Opportunity Capital
Protected Fund
US Access 80 Fund
L
o
w
e
r

R
i
s
k

/

L
o
w
e
r

R
e
t
u
r
n
M
e
d
i
u
m

R
i
s
k

/

M
e
d
i
u
m

R
e
t
u
r
n
H
i
g
h
e
r

R
i
s
k

/

H
i
g
h
e
r

R
e
t
u
r
n
L
o
w
e
r

r
i
s
k

t
o

h
i
g
h
e
r

r
i
s
k

(
i
n

a
s
c
e
n
d
i
n
g

o
r
d
e
r
)
Fund Acronym Fund Name
ARF II
AGF
AIPF
ASIF
APIF
AUDIF
CSF
EDF
FMIF III
FMIF IV
FMIF V
FMIF VI
FMIF VII
GCF
Absolute Return Fund II
AIIMAN Growth Fund
AIIMAN Select Income Fund
Asia Pacific (ex-Japan)
Infrastructure Fund
AUD Income Fund
China Select Fund
Enhanced Deposit Fund
Fixed Maturity Income Fund III
Fixed Maturity Income Fund IV
Fixed Maturity Income Fund V
Fixed Maturity Income Fund VI
Fixed Maturity Income Fund VII
Global Commodity Fund
A
Q
F
C
S
F
G
C
F
G
F
I
F
S
A
O
F
S
O
F
A
R
F

I
I
A
P
I
F
A
G
F
S
D
F
S
B
a
l
F
S
t
r
l
F

V
I
S
t
r
I
F

V
A
U
D
I
F
S
I
F
U
S
A
8
0
S
B
o
F
A
I
P
F
F
M
I
F

I
V
F
M
I
F

I
I
I
T
o
C
P
E
D
F
F
M
I
F

V
F
M
I
F

V
I
F
M
I
F

V
I
I
S
G
D
I
F
A
S
I
F
Fund Risk Profile

DISCLAIMER

The information has been obtained from public sources believed to be reliable and the opinion, analysis, forecasts, projections and expectations (together Opinions) are based on
such information and are expressions of belief only. No representation or warranty, expressed or implied, is made that such information or Opinions is accurate, complete or verified
and it should not be relied upon as such. Information and Opinions presented are published for the recipients reference only, and are not to be relied upon as authoritative or without
the recipients own independent verification or in substitution for the exercise of judgment by any recipient, and are subject to change without notice. This summary is not, and should
not be construed as, an offer document or an offer or solicitation to buy or sell any investments.

For Hwang Investment Management Bhd (Hwang IM) Open-Ended Funds

The Master Prospectus dated 18 July 2012, First Supplemental Master Prospectus dated 1 September 2012 and Second Supplemental Master Prospectus dated 2 May 2013
for Hwang Select Opportunity Fund, Hwang Select Income Fund, Hwang Select Balanced Fund, Hwang Select Bond Fund, Hwang Select Asia (ex Japan) Quantum Fund
(formerly known as Hwang Asia Quantum Fund), Hwang Select Asia (ex Japan) Opportunity Fund and Hwang Asia Pacific (ex Japan) Infrastructure Fund;
The Master Prospectus dated 8 October 2012 for Hwang AIIMAN Growth Fund and Hwang AIIMAN Income Plus Fund;
The Prospectus for Hwang Enhanced Deposit Fund dated 31 March 2013;
The Prospectus for Hwang AUD Income Fund dated 18 March 2013 ;
The Prospectus for Hwang US Access 80 Fund dated 12 March 2013;
The Prospectus for Hwang Select Dividend Fund dated 28 March 2013;
The Prospectus for Hwang China Select Fund dated 11 July 2012;
The Information Memorandum for Hwang Absolute Return Fund II dated 27 May 2010;
The Prospectus for Hwang SGD Income Fund dated 1 August 2012; and
The Prospectus for Hwang AIIMAN Select Income Fund dated 1 March 2013
The Prospectuses and Information Memorandums above have been registered and deposited respectively with the Securities Commission Malaysia, who takes no responsibility for its
contents. A copy of the Prospectuses and/or Information Memorandums can be obtained at our office or any of our sales office. Units will only be issued on receipt of an application
form referred to in and accompanying the Prospectuses and/or Information Memorandum. Investors are advised to read and understand the contents of the Prospectuses and/or
Information Memorandum before investing. Among others, investors should consider the fees and charges involved. The price of Units and distribution payable, if any, may go down as
well as up. The past performance of the funds should not be taken as indicative of its future performance.

For Hwang Capital Protected Funds (Closed for purchase)

Hwang Tactical Opportunity Capital Protected Fund dated 13 January 2010 has been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. A
copy of the Prospectus can be obtained at our office or at all our respective distributors branches. Units will only be issued upon receipt of an application form referred to in and
accompanying the Prospectuses. Investors are advised to read and understand the content of the Prospectus for further details of the capital protection structure and to consider the
fees and charges involved before investing in the Fund. The price of Units and distribution payable, if any, may go down as well as up. The past performance of the Fund should not be
taken as indicative of its future performance. The fund is not guaranteed and subject to investment risks. The capital protection only applies to investors who hold their investments
until maturity date. Investors redeeming prior to maturity will not enjoy the protection on capital and will redeem at the relevant market Net Asset Value per Unit of the Fund.
Additionally, investors will be charged an exit fee. Investors are advised that there maybe a dilution of performance due to the capital protection structure being in place compared to a
conventional fund without capital protection.

For Hwang Fixed Maturity Income Fund (Closed for purchase)

The Prospectus for Hwang Fixed Maturity Income Fund III dated 6 September 2011, Hwang Fixed Maturity Income Fund IV dated 8 November 2011, Hwang Fixed Maturity Income Fund
V dated 24 September2012, Hwang Fixed Maturity Income Fund VI dated 25 March 2013 and Hwang Fixed Maturity Income Fund VII dated 28 May 2013 have been registered with
Securities Commission, who takes no responsibility for its contents. A copy of the Prospectuses can be obtained at our office or at any of our sales office. Units will only be issued on
receipt of an application form referred to in and accompanying the Prospectuses. Investors are advised to read and understand the contents of the Prospectuses before investing in the
Fund. This price of Units and distribution payable, if any, may go down as well as up. Please note that the Funds are not capital protected or capital guaranteed fund. Among others,
investors should consider the fees and charges involved. Past performance of the Fund is not indicative of future performance.

For Hwang Structured Income Fund (Closed for purchase)

The Securities Commission has approved the issue, offer or invitation in respect of the Hwang Structured Income Fund V and Hwang Structured Income Fund VI the subject of the
Information Memorandums dated respectively on 8 February 2012 and 16 May 2012 and the approval shall not be taken to indicate that the Securities Commission recommends the
investment. The Funds are not guaranteed or capital protected and are subject to investment risk. A copy of the Info Memorandums can be obtained at our office or any of our sales
office. Investors are advised to read and understand the contents of the Info Memorandums for further details of the Funds structure and to consider the fees and charges involved
before investing in the Fund. The price of Units and distributions, if any, may go down as well as up. Past performance of the Fund is not indicative of future performance.

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