AIA PUBLIC TAKAFUL MONTHLY FUND PERFORMANCE UPDATE Leyes Investment Objective ‘The Fund saeks to provide a safe ard steady sream of income returns {hough invesimentsn same income secures (Suku. 'siame monsy ‘marke insumends and Sharah-approved Real EstaaInvostment Trusts (REITs sted on Bursa Malaysia. The secondary goa! ofthe Furd isto rove medium to long term capa apprecation whist preserving the apt invested Fund Details ‘Unt NAV 81 Dse 2020) = Rwoass70 ud 528 (31 Dee 2020) RM 122613!on urd Curency| Ringo Malaysia Fund neepton| 1 March 2011 (ter Pree at Inoepten = RMOs0 Fund WaragerentChaige 50% p= Investment Manager = AIABhd. Takatl Operator ‘AIA PUBLIC Takaks as of Unt Valion 1 NetAsset Va Frequene of Valuation Daly Top Holdings 11 MALAYSIA GOVERNWENT SECURITIES 220% 2 DIALOG GROUP BHO 740% 3 PENANG PORT SON BHD 20% 4 EDRASOLAR SON BHD 479% 5 UMW HOLDINGS BHO 400% Sector Allocation ay b3503 Se TS ‘"yRimonn hayes Corer icone Accour samc) Tr 1 Rt (Sours: Mayoan) ae Pvtzeremance te Ford nolan neato ts hr peomane. ‘AIA PUBLIC Takaul Bhd 2010078 288559 December 2020 Market Review Goverrmert investrent Issue (GI raliod across tho cuve folowing the Daseing of Budget 2021 a8 wel as on the back of year-end rebar ‘cts, Buying terest was futher supported bythe song MYR. which Stenginened by 131% against te greenback to close the monty atthe Yyearlow at MYR4 0208, il lvels a of erd-December 2020 wore: 3Y a 192% (10 bps), SY at 2.26% (-10 bps) 7Y af 240% (20 bps). 10¥ at 278% (4 bps). SV at3-42% (49 bps), 2OY at 3.55% (27 bps) and SOY 13.09% (28 bs), ‘Tere was one goverment seourties aucton during the month The 10Y Gi 1030 reopening auction vith a tender size of MRA Sblen and pate placement of MYRSOD millon drew a stong Bitowover (BTC) tao Of 2.6 tbe at an average yield of 2.986%. Foreign inflows inlo MYR debt secures tapered of to MYR 8 Dion in November 2020 sespte comestc headwinds in pobtes, budget and lrfavourable supply and demand dynamics. Foregn nolangs in MGS and Greased marginally 1924 6% (October 2020 24 5%) ‘On tho economic data font, Malaysia's foreign reserves rose by USDO 4 bon to USD"08 7 bison ae of 18 December 2020 (90 November 2020: USDI0S 5 ballon) The reserves are suit fo susan 88 montis of fetaned impods and 12x of sortferm enteral debt. Malaysia's expos txpanded by 43% Vear-onsYenr( YoY" November 2020 (October 2020 02% YoY), mainy aiven by higher exports of eectical & electronic procucts,riober products as well a palm ol and palm-based products Meanie. impors continued to decine by 8.0% YoY (Ociabor 2020. 8.0% YoY), on the back of a contraction In capa goods, intermediate ‘900s and consumption goods. Consequenty. rade balance narrowed to Uvet6. biton (October 2020: M22 1 bikon) Malaysia's Consumer Price index (CPI) futher weakened by 173 YoY in November 2020 (Cetober 2020: 5% Yor), onthe back ofa conracton in tanspot ( T1% Yor), housing and uslites (3.3% Yor, a5 well 25 clothing ard footwear (0 S% YoY) ndees Separate, Malaysia incur prediction ‘oclned marginal by 0 8% Yo¥'n Octobs 2020 (Septmoer20201 0%). ‘The contraction was miniy due to te decrease n mining (-10.6% Yor) Index partally fet by grow in bh manufacturing (+2 4% YoY) and eerily (110% Yay) Indices ‘On the primary corporate sukuk space, notable issuances include MYR1.1 bon Fengurusan Air Selargor'Sdn Bhd IMTR, MYREOO maion Sime Day Property Berrad NTN, and MYR5SO millon Cagamas Bera MTN amongst others Market Outlook CGiobalconral harks are expected to remain largely accommodate inthe monetary poly space wile fiscal polcy wil reman oxpansionay it ‘Support of growth As we reached he bottom of the moretry pale easing {ye tre ming of monetary poky tatening wil be nighy dependent on the grown trajectory, avalaoiy of vacanes, and doman-pul Iaton ‘look "Win an expansionary budget to boost growth and support feeonemec recovery. a wider feel fc couples wth 2 leper supp of (Goverment seeutee, wil contnue to weigh on tho yield curve. Consequenty,sustarably high det to Gross Domestic Preducts (GOP) and 8 wider fiscal ce poses greater downside nsk to the sovereign fatng, ry signe of deviation fom fecal dscpine or poli! islabaty ould poteiily tigger rating scons. Neverless. we vew thal Bank ‘Negara Malaysia's (SNM measures should remain supportive toe lcal fscanomy ithe near farm withthe fal sukuk market corinue to be Support by ample enshore Iu, e Lipper Leader Fund for: 2 Censeten Ret Maas ere ns rae re ‘Sitter on ‘Tar cocmrarts iy eauaoral in coy eetarce: mento iveriee ietsckcrg fe yous lns ofp (Siasuct arts Pan peramanas oh tnd nl avdetor ets aur petamare. Tha ele ure ese pact mh at cua psse Cte BS ‘pra creay an nt ot oahetem” 2% ivesmer-Linked Insurance Take pen chosen eels your sk apetie. Psst te Fu Fac Sea mre momen