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NAVPU
Total Fund NAV
Dealing Day
Additional Investment
PHP 10,000.00
Redemption Settlement
90 Calendar Days
135.040771
PHP 12.0-Mn
09:00 AM 11:00 AM
Banking Day
09:00 AM 11:00 AM
Next Banking Day
0.50%
of
Redemption
Amount or PHP 500.00,
Whichever is Higher
RBank-TIG trustee fee at 1.50% per annum based on daily NAV, Deutsche Bank security
custody fee at 0.02% per annum based on face value of securities under custody; external
audit fee based on the daily accrual of the previous years billing
Fees
THE UITF IS NOT A DEPOSIT AND IS NOT INSURED BY THE PHILIPPINE DEPOSIT INSURANCE
CORPORATION (PDIC).
RETURNS CANNOT BE GUARANTEED AND HISTORICAL NAVPU IS FOR ILLUSTRATION OF NAVPU
MOVEMENTS/FLUCTUATIONS ONLY.
WHEN REDEEMING, THE PROCEEDS MAY BE WORTH LESS THAN THE ORIGINAL INVESTMENT AND
ANY LOSSES WILL BE SOLELY FOR THE ACCOUNT OF THE CLIENT.
THE TRUSTEE IS NOT LIABLE FOR ANY LOSS UNLESS UPON WILLFULL DEFAULT, BAD FAITH, OR
GROSS NEGLIGENCE.
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: 17F Galleria Corporate Center, EDSA corner Ortigas Avenue, Quezon City, NCR, Philippines
: 702-9546/702-9506
: trustgroup@robinsonsbank.com.ph
: www.robinsonsbank.com.ph
145.00
BF NAVPU
140.00
Benchmark
135.00
137.593623
128.548994
130.00
STATISTICS
125.00
6/30/2016
5/31/2016
4/30/2016
3/31/2016
2/29/2016
1/31/2016
12/31/2015
11/30/2015
10/31/2015
9/30/2015
8/31/2015
7/31/2015
120.00
6/30/2015
PORTFOLIO COMPOSITION
TOP TEN HOLDINGS (% )
ASSET CLASS
ISSUER
% OF FUND
EQUITY
14.26%
SDA
Bangko Sentral
10.98%
CORP BOND
8.77%
CORP BOND
SM Prime Holdings
8.73%
CORP BOND
8.70%
COMM'L PAPER
SL AGRITECH
8.11%
EQUITY
8.02%
EQUITY
7.21%
EQUITY
6.41%
EQUITY
Energy Development (
5.96%
SDA
10.98%
COMM'L
PAPER
8.11%
CORP BOND
36.22%
EQUITY
44.69%
OTHER DISCLOSURES
Related Party Transactions
The UITF has an equity investment in URC amounting to PHP 1.706-Mn as of report cut-off date. All related party
transactions are conducted on an arms length basis and best execution basis and within the regulatory 15%
investment limit of the UITF.
Prospective investments
The UITF will continue to invest in fixed-income portfolio to include BSP-SDA, time deposits/SSA with its BoDaccredited counterparty banks, to include its own bank and tradable bonds like FXTN/ prime corporate bonds.
Investments up to a maximum 50% allocation in its Board-approved stocks in holding companies, utilities,
consumer companies, banking, and other blue-chip equities will be based on market-driven circumstances.
FUND MANAGERS OUTLOOK AND STRATEGY
Local Equity Market
nd
The local equities market ended the 2 quarter of 2016 strong at 7,796.25, up by 12.14% year-to-date. It traded
at its highest level for the year at 7,798.53 on June 29, significantly up by 28.18% from its lowest level during the
same year in January. Stable economic growth brought about by sustainable OFW remittances and the BPO
sector continued to spur investor demand, increasing the PSEi by 5.33% month-on-month, 7.35% quarter-on
quarter, and 3.06% year-on-year. Meanwhile, markets remain volatile as investors continue to be cautious
considering the decelerating global growth, with Chinas economic slowdown, the possibility of 2 rate increases
this year by the US Fed, and concerns on the Eurozone amid the Brexit. On the positive side, the peaceful
election caused optimism in the Philippine market as the newly elected president, Rodrigo Duterte took office on
June 30. Investors are optimistic with the new administrations call for change and its promise to deliver and
execute its 10-point agenda. The Duterte administration inherited a rather strong economy brought about by the
presidency of Noynoy Aquino. However, most Filipinos are craving for more as they felt that the growth of the
country wasnt as inclusive as they expected it to be. In lieu of this, investors are awaiting for cues from the
market both domestically and internationally. While the market has been rather bullish and generally in an upward
trend from the start of the year, valuations may be on the high side as the market tests the 7,800 level.
Local Fixed-Income Market
Preliminary data show that domestic liquidity (M3) grew by 13.5% year-on-year in May to reach almost P8.7
trillion. This was faster than the 12.8% (revised) expansion recorded in April, as money supply continued to
expand due largely to sustained demand for credit. This sustained expansion of M3 during the month indicates
that money supply remains sufficient to support economic growth. Meanwhile, headline inflation increased to
1.9% year-on-year in June from 1.6% in May, and was within the BSPs forecast of 1.5%-2.4% for the month.
However, the resulting year-to-date average inflation rate of 1.3% was still below the governments inflation target
range of 2%-4%. Core inflation, which excludes certain volatile food and energy items, also rose to 1.9% in June
from 1.6% the previous month. BSP Governor Amando Tetangco, Jr. noted that the higher inflation reading is
consistent with the BSPs assessment that inflation will move within target within the policy horizon.
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