31 August 2014

CIMB Islamic Small Cap Fund
A S S E T

MA N A GE ME N T
Available under the EPF Members Investment Scheme.

INVESTMENT VOLATILITY

FUND OBJECTIVE

3-year
Fund Volatlity

The objective of the Fund is to seek medium to long -term growth in capital by investing
principally in emerging companies listed on Bursa Malaysia and this must be in accordance
with the Shariah principles.

16.99
Very High

FUND PERFORMANCE in MYR

Lipper Analytcs

15 Aug 2014

FUND INFORMATION
Kuala Lumpur, Malaysia

Location

Malaysia

Domicile

Ringgit Malaysia

Fund Currency
Fund Size (MYR)

MYR 271.48 million

Fund Unit

244.97 million units

Fund Launch

30 April 2003

Fund Inception (MYR)

30 April 2003

Benchmark
Dealing

FTSE Bursa Malaysia Small Cap Index
Daily (as per Bursa Malaysia trading day)
6.50% of the NAV per unit

Application Fee
Management Fee

1.85% p.a. of the NAV

Trustee Fee

0.06% p.a. of the NAV

Cumulative Performance (%)
YTD 1 Month

MYR 1.1082

Unit NAV (MYR)

Fund
Benchmark

7.79
18.54

-2.99
-2.42

3 Months

6 Months

-0.07
6.60

7.69
12.61

1 Year 3 Years 5 Years
18.75
28.77

82.58
64.17

Since
Inception

143.48
89.61

159.62
228.32

Calendar Year Performance (%)

Fund
Benchmark

2013

2012

2011

2010

2009

2008

39.03
36.71

15.51
-1.63

-3.61
-7.57

30.04
24.19

46.46
55.14

-39.65
-46.56

Note: April 2003 to August 2014.
Performance data represents the combined income & capital return as a result of holding units in the fund for the
specified length of time, based on bid to bid prices. Earnings are assumed to be reinvested. Source: Lipper

CIMB-PRINCIPAL AWARDS AND ACCOLADES

Currency
MYR

ISIN Code

Bloomberg Ticker

MYU1000AW001

BHLPDAZ MK

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

^Based on the fund's portfolio returns as at 15 August 2014, the Volatility Factor (VF) for this fund is 16.99 and is
classified as "Very High" (source: Lipper). "Very High" includes funds with VF that are above 12.975. The VF means
there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class
(VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC
will be revised every six months. The fund's portfolio may have changed since this date and there is no guarantee that
the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least
36 months will display the VF and its VC.
We recommend that you read and understand the contents of the Master Prospectus (Shariah-Compliant Funds) Issue
No. 7 dated 30 June 2014, which has been duly registered with the Securities Commission Malaysia, before investing
and that you keep the said Master Prospectus (Shariah-Compliant Funds) for your records. Any issue of units to which
the Master Prospectus (Shariah-Compliant Funds) relates will only be made upon receipt of the completed application
form referred to in and accompanying the Master Prospectus (Shariah-Compliant Funds), subject to the terms and
conditions therein. Investments in the Fund are exposed to liquidity risk and stock specific risk. You can obtain a copy of
the Master Prospectus (Shariah-Compliant Funds) from the head office of CIMB-Principal Asset Management Berhad
or from any of our approved distributors. Product Highlight Sheet ("PHS") is available and that investors have the right
to request for a PHS; and the PHS and any other product disclosure document should be read and understood before
making any investment decision. There are fees and charges involved in investing in the funds. We suggest that you
consider these fees and charges carefully prior to making an investment. Unit prices and income distributions, if any,
may fall or rise. Past performance is not reflective of future performance and income distributions are not guaranteed.
You are also advised to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure
Statement/Unit Trust Loan Financing Risk Disclosure Statement before deciding to borrow to purchase units.

Page 1 of 2

31 August 2014

CIMB Islamic Small Cap Fund
A S S E T

MA N A GE ME N T
Available under the EPF Members Investment Scheme.

FUND MANAGER'S REPORT

PORTFOLIO ANALYSIS

The
Fund
fell
2.99%
in
Aug
2014
and
it
underperformed the FTSE Bursa Malaysia Small Cap
("FBMSC") Index by 0.57%. Initially the broader market
continued to rally on high volume but later in the
month mid-small cap stocks came under pressure from
profit taking activities. Fund performance in the month
was negatively impacted by the pull back of several
mid-small
cap
oil
&
gas
stocks
after
reporting
unimpressive 2Q14 corporate results. Gainers included
construction
companies
Cahaya
Mata
Sarawak
and
Muhibbah. Year-to-date ("YTD"), the Fund was up
7.79% while the benchmark has appreciated 18.54%.

ASSET ALLOCATION
Shariah-compliant Equities (Local)

91.51%

Cash

8.49%

100.00%

Total

Following the strong the second quarter of
2014
(“2Q14”) gross domestic product ("GDP") growth of 6.4%,
growth in the second half of 2014 (“2H14”) is expected
to moderate to 5.2% - 5.5% year-on-year (“y-o-y”) on the
back of a higher base last year. Nevertheless, economic
momentum
and
fundamentals
remain
intact.
Foreign
manufacturing investment
approvals
of
RM7.8
billion
for YTD May 2014 is already 84.0% of that achieved in
2013, while the corresponding number for domestic
investment of RM5.1 billion is at 78.3%.
Malaysia has
moved up four places to emerge 20th (out of 144
economies) in World Economic Forum (“WEF”) Global
Competitiveness
Index
2014-15,
the
highest
ranked
among the developing Asian economies. Our end-2014
Kuala Lumpur Composite Index (“KLCI”) target remains
unchanged at 1,920 based on 15 price earnings ratio
(“PER”) of 15.5x. While the market is in correction mode
currently, we expect the market to inch higher towards
our target in the fourth quarter of 2014 (“4Q2014”)
assisted by year end window dressing activities.

SECTOR BREAKDOWN

In terms of strategy, we plan to stay fairly invested. We
are taking some profit on recent gainers and shifting
into laggards. We will continue to focus on stock picks
for
out-performance.
The
Fund
is
overweight
Construction, Retail and Oil & Gas.

Industrials

27.16%

Trading / Services

16.55%

Properties

14.51%

Construction

10.92%

IPC

10.81%

Plantations

5.95%

Finance

2.70%

SPAC

1.95%

Consumer

0.96%

Cash

8.49%

100.00%

Total

RISK STATISTICS

TOP HOLDINGS

Beta

0.73

1 KNM Group Bhd

Malaysia

7.96%

Information Ratio

0.34

2 Cahaya Mata Sarawak Bhd

Malaysia

7.83%

Sharpe Ratio

1.15

3 Puncak Niaga Hldg Bhd

Malaysia

7.53%

4 Coastal Contract

Malaysia

6.60%

5 Naim Hldg Bhd

Malaysia

6.04%

6 Aeon Co. M Bhd

Malaysia

4.05%

3 years monthly data

Total

40.01%

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