You are on page 1of 1

RBank BALANCED FUND (Unit Investment Trust Fund) Fund Performance Report for the 1st Quarter 2011

As of March 31, 2011 Product Description and Customer Suitability


The RBank Balanced Fund is a peso-denominated unit investment trust fund (UITF) that is invested in both fixed-income securities and equities and is an investment alternative for clients looking for better returns than traditional bank deposits over a medium to long-term investment horizon. Its investment portfolio consists of deposits, government bonds, prime corporate bonds and listed equities. Minimum initial placement and maintaining balance is Php 50,000.00 while minimum additional placements are accepted at Php 10,000.00. Minimum holding period is 90 calendar days. In case of withdrawal prior to 90 days, early redemption fee of 0.50% of redemption amount or Php 500 (whichever higher) will be charged. As a UITF, the funds assets are subject to daily mark-to-market valuation and as such, clients returns are not guaranteed. Clients should be willing to take the attendant risks inherent in medium to long-term tradable fixedincome investments and listed equities. The Funds performance is benchmarked against 50% PSE index and 50% average 91 day Tbill rate.

Top Bond Holdings as of 1st Qtr 2011


% of fund BSP-SDA FXTN 5-65 RTB 5-10 RTB3-06 Globe shares JGSH shares MBT shares PCOR shares 34% 13% 13% 3% 3% 4% 3% 3% Mkt Yield 4.125% - 4.1875% 2.11% 5.69% 0.00% 891.00 24.50 64.20 14.36 Maturity < 30 days 2/21/2012 1/0/1900 1/0/1900

Fund Managers Report 1st Quarter 2011 Market Wrap The main index finished at 4,055 levels for the quarter, up by 8% month-on-month. Foreigners turned net buyers on account of political tensions in the MENA region. The market reacted positively on BSP rate hike as a signal of BSPs responsiveness to inflationary market conditions. Outlook for the 2nd Qtr 2011 We will remain invested in selected stocks and do asset rotation as trading opportunities arise. Listed corporates earnings are expected to report positive growth and we expect the equity markets to rally further in the next months.

Fund Performance / Historical Yields

The Balanced Fund posted a Yr-on-Yr net ROI of 6.54% and a YTD absolute net ROI of -0.43% with NAVPU of P 115.215113 as of March 31, 2011. On a yr-to-date basis, despite the negative yr-to-date absolute ROI, the fund still registered better returns compared to its benchmark of 1.62%
Absolute Yield net of tax & fees 6.54 % -0.43 % 15.22 % NAVPU (Php) 115.215113 115.712187 100.000000 Date 03-31-2011 12-31-2010 03-28-2008

Disclosure of Fund expenses for the 1st Quarter, 2011 per BSP regulation:
Trust fees* Security Custody fees UITF Backroom Service Provider Php 136,481.78 663.37 27,594.40

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

Note: From Jan-Mar 2011 only ; annual trust fee is 1% per annum based on net assets.

UITF Participation/ Redemption Conditions:


1. Admissions/ redemptions accepted on or before the cutoff trading of 11:30AM to be considered as transactions for the day; otherwise, the same shall be considered as next day transactions. Admissions/ redemptions shall be based on the prevailing market value of underlying investments of the UITF at date of transaction, in accordance with existing BSP rules and regulations on marking-to-market valuation of investment instruments. Redemption proceeds shall be paid out of the UITF one (1) day after transaction date.

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

PORTFOLIO MIX:

2.

3.

4.

Regular or early redemption will require the signing of the Notice of Redemption provided in the Certificate of Participation, which should be duly surrendered to the maintaining branch at time of withdrawal. Only full redemption per Certificate of Participation shall be allowed.

5.

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