Documente Academic
Documente Profesional
Documente Cultură
2018
Q U A R T E R LY F U N D R E V I E W
For funds distributed by UTCs PUBLIC MUTUAL BERHAD (23419-A)
• Higher interest rate concerns in the U.S. following the release of stronger wage growth figures in early February; and
• Concerns over escalating trade tensions between the U.S. and China following the U.S. administration’s plan to impose 25% tariffs on up to US$60
billion of annual imports from China.
Source: Bloomberg
1
Economic Update • On 22 March 2018, the U.S. administration announced its plan to impose
25% tariffs on up to US$60 billion of annual imports from China, which
Malaysia accounts for about 2.6% of China’s total exports and represents about
12% of total U.S. imports from China in 2017. On the following day,
• Malaysia’s Gross Domestic Product (GDP) growth eased from 6.2% in 3Q China announced plans to raise tariffs on $3 billion of U.S. imports, which
2017 to 5.9% in 4Q 2017 due to moderating investment spending and represents 0.1% of total U.S. exports for 2017.
export growth. Investment spending slowed from 6.7% in 3Q 2017 to
4.3% in 4Q 2017 amid lower public investment. For the full year, GDP • On 4 April 2018, China announced that it would levy 25% tariffs on
growth rose from 4.2% in 2016 to a 3-year high of 5.9% in 2017 on the imports of 106 U.S. products including soybeans, automobiles, chemicals
back of firmer export growth and domestic demand. and aircraft, in response to proposed American duties on its high-tech
goods. The tariff charges will apply to around US$50 billion of U.S. exports,
• In its latest annual report, Bank Negara Malaysia (BNM) projected GDP which represents 2% of the total U.S. exports.
growth to be sustained in a range of 5.5%-6.0% for 2018 amid resilient
consumer spending. Meanwhile, the inflation rate is forecast to moderate Stock Market Outlook
to 2.0%-3.0% in 2018 from 3.7% last year on expectations of stable global
energy and commodity prices as well as a potentially firmer Ringgit in • Global: In the months ahead, the U.S. market is likely to trade cautiously
2018. on the back of ongoing trade tensions and concerns that higher-than-
expected interest rates may dampen economic growth in the U.S. As it
Malaysia’s GDP Growth Breakdown by Aggregate Demand stands, the proposed tariffs are not projected to have a material impact
on the GDP growth rates of the U.S. and China due to the relatively low
Quarterly Annual proportion of exports involved for both countries.
(%) YoY
3Q 2017 4Q 2017 2017 2018f
• China: Despite generally robust corporate earnings results, the China
Private Consumption 7.2 7.0 7.0 7.2
market is expected to remain volatile in the near term due to uncertainties
Public Consumption 3.9 6.9 5.4 0.6 arising from the U.S.-China trade tensions. However, China’s economic
Total Investment 6.7 4.3 6.2 5.2 momentum has been driven by domestic consumption in recent years
Exports 11.8 7.1 9.6 8.8 and has become less dependent on exports. Thus, any retracement in the
market will provide buying opportunities for long-term investors.
Imports 13.4 7.4 11.0 9.1
GDP Growth 6.2 5.9 5.9 5.5-6.0 • Taiwan/Korea: In the near term, the Taiwan market is likely to trade
Source: Department of Statistics Malaysia cautiously as investors monitor the impact of U.S. tariffs on regional trade.
f = Bank Negara Malaysia forecasts Meanwhile, the Korea market is expected to trade range-bound pending
the outcome of the revised U.S.-South Korea free trade agreement as well
• On 25 January 2018, BNM raised the Overnight Policy Rate (OPR) by 25 as amid the continued strength of the Korean Won which could affect
basis points (bps) from 3.00% to 3.25% amid resilient economic growth. its exports. However, the Korea market will continue to be supported by
improving shareholder return policies and attractive market valuations.
• Commencing at RM4.05 per US$ at the end of 4Q 2017, the Ringgit
strengthened by 4.9% to close at RM3.86 per US$ in 1Q 2018. Regional and Global Markets’ Valuations
Movement of Selected Currencies against the Ringgit Historic Prospective Discount / Estimated
P/E (2) P/E Premium Dividend
Ringgit per 2017 1Q 2018 (x) (x) (%) Yield (%)
Currency* change (%) change (%) ASEAN
Indonesia Rupiah^ 0.03 +11.7 +6.6 Thailand 13.2 16.0 +21.2 2.9
Australian Dollar 2.97 +2.3 +6.6 Philippines 16.3 17.7* +8.6 1.6*
Indonesia 14.9 15.7^ +5.4 2.1^
U.S. Dollar 3.86 +10.7 +4.9
Malaysia 16.5 16.6 +0.6 3.3
Taiwan Dollar 0.13 +1.4 +3.1
Singapore 14.1 13.7^ -2.8 3.7^
Singapore Dollar 2.95 +2.4 +2.9 North Asia
Euro 4.76 -2.6 +2.0 MSCI China 11.6 13.0 +12.1 2.2
Chinese Yuan 0.62 +3.7 +1.2 Hong Kong 12.3 11.6^ -5.7 3.5^
Taiwan 15.1 14.0# -7.3 4.0#
Pound Sterling 5.43 +0.9 +0.8
Korea 11.0 9.5 -13.6 2.0
Japanese Yen^^ 3.64 +6.6 -1.0
Japan 17.2 14.0 -18.6 2.0
Source: Bloomberg
China 'H' Shares 9.7 7.8^ -19.6 4.1^
* As at 30 March 2018 ^ per 100 Rupiah ^^ per 100 Yen
Global Markets
Regional Australia 14.6 15.4^ +5.5 4.6^
Eurozone 13.9(3) 13.9^ - 4.2^
• China’s 4Q 2017 GDP growth was sustained at 6.8% compared to a similar U.S. (1) 17.3(3) 16.9^ -2.3 2.0^
growth rate in 3Q 2017, as moderating manufacturing activities were
Source: Bloomberg, 30 March 2018
mitigated by higher service activities. For the full year of 2017, China’s #
* As at 28 March 2018 ^ As at 29 March 2018 As at 31 March 2018
GDP growth gained pace to 6.9% from 6.7% in 2016 on the back of firmer (1) (2) (3)
S&P 500 Index 2008-2017 historical average 1998-2017 historical average
growth in the services sector.
• ASEAN: ASEAN markets could see continued volatility due to uncertainties
Global arising from a higher interest rate environment and U.S. protectionist
trade measures. Countries with current account deficits such as
• The Federal Reserve raised the Federal funds rate target range by 25 bps Indonesia and the Philippines may be more affected than countries with
from 1.25%-1.50% to 1.50%-1.75% at its March Federal Open Market current account surpluses such as Thailand, Singapore and Malaysia.
Committee (FOMC) meeting. The central bank projected 2 to 3 more hikes Nevertheless, ASEAN markets remain generally well-supported by the
for the rest of 2018 and raised its forecast for 2018 U.S. GDP growth to region’s firm domestic demand.
2.7% from 2.5%.
• Malaysia: Looking ahead, investors are expected to monitor the pace
• U.S. GDP growth strengthened from 2.3% in 3Q 2017 to 2.6% in 4Q 2017 of global demand and the impact of rising global trade tensions on
due mainly to higher consumer and public spending. For the full year, GDP Malaysia’s economy and corporate earnings growth.
growth rose from 1.5% in 2016 to 2.3% in 2017 amid higher investment
spending. • Bursa Securities registered a net outflow of RM0.1 billion from foreign
funds in March 2018, resulting in a total net inflow of RM2.2 billion for
• Based on consensus estimates, U.S. economic growth is projected to the first quarter of the year.
edge up from 2.3% in 2017 to 2.8% in 2018, driven by higher investment
spending on the back of the government’s tax reform measures.
2
Bond Market Review & Outlook
RM billion Net Foreign Fund Flows of Bursa Malaysia
5.0 • After moving higher in January and February, U.S. Treasury (UST) yields
4.4
declined in March as concerns over U.S.-China trade tensions prompted
4.0
3.4
investors to return to the UST market despite the rising interest rate
outlook. Overall, the UST market ended 1Q 2018 on a soft note on
3.0 2.7
expectations of stronger economic growth and higher inflation in the
2.1
2.0 U.S. resulting from the tax reform and increased government spending.
The yields of 3-year, 5-year and 10-year UST notes rose by 33 to 41 bps to
1.0 0.9
1.0 close at 2.38%, 2.56% and 2.74% respectively for the quarter.
0.5 0.4
0.3
0.0
• In Malaysia, the Malaysian Government Securities (MGS) benchmark
-0.2 -0.2 -0.1 -0.1 yields closed higher in 1Q 2018, tracking the increase in UST yields. To
-1.0 -0.8 normalise the degree of monetary accommodation, BNM increased the
-1.1 OPR by 25 bps to 3.25% at the January Monetary Policy Committee (MPC)
-2.0 meeting. Overall, the 3-year, 5-year and 10-year MGS yields rose by 1 to 13
Mar-17 Jun-17 Sep-17 Dec-17 Mar-18 bps to close at 3.45%, 3.54% and 3.94% respectively for 1Q 2018.
Source: Bursa Malaysia • Meanwhile, the yields of 3-year, 5-year and 10-year AAA-rated corporate
bonds rose by 2 and 6 bps to close at 4.33%, 4.51% and 4.82% respectively.
• Malaysia’s foreign reserves increased to US$103.9 billion as at 15 March
2018 from US$102.4 billion at end-2017. At the current level, the reserve • Looking ahead, market participants will continue to closely monitor the
position is sufficient to finance 7.3 months of retained imports and is economic and inflation outlook in the U.S. as well as the impact of rising
equivalent to 1.1 times the short-term external debt. global trade tensions on the domestic bond market.
• At the FBM KLCI’s closing level of 1,863 points on 30 March 2018, the
Quarterly Bond Yields
local stock market was trading at a prospective P/E ratio of 16.6x, which
was marginally above its 10-year average of 16.5x. Meanwhile, the local
4Q 2017 1Q 2018 Change*
market’s dividend yield was 3.28%. Tenor / Date
(%) (%) (bps)
3 Year Bonds
P/E (x)
Bursa Securities’ P/E Ratio*
U.S. Treasury Bond 1.97 2.38# +41
25.0
MGS 3.32 3.45 +13
30 Mar' 18:
16.56x 'AAA' Corporate Bond 4.28 4.33 +5
20.0
5 Year Bonds
15.0
U.S. Treasury Bond 2.21 2.56# +35
MGS 3.53 3.54 +1
%
Bursa Securities’ Dividend Yield* * in basis points #
As at 29 March 2018
8.0
31 Oct’ 08:
6.38%
6.0
30 Mar' 18:
Average:
3.28%
4.0 3.54%
2.0
0.0
08 09 10 11 12 13 14 15 16 17 18
*Source: Bloomberg
3
Our Unit Trust Funds’ Performance Review (1Q 2018)
4
The following funds’ performance is covered in this report:
Equity - Regional
Public Asia Ittikal Fund (PAIF) 22.08.2006 5 22
Public Islamic Asia Dividend Fund (PIADF) 03.04.2007 5 23
Public China Ittikal Fund (PCIF) 20.11.2007 5 24
Public Islamic Asia Leaders Equity Fund (PIALEF) 19.01.2010 5 25
Public Islamic Optimal Equity Fund (PIOEF) 26.07.2016 5 26
Balanced - Local
Public Islamic Growth Balanced Fund (PIGRBF) 07.10.2015 3 27
Mixed Asset - Local
Public Islamic Mixed Asset Fund (PIMXAF) 20.09.2005 4 28
Public Ehsan Mixed Asset Conservative Fund (PESMACF) 25.11.2014 3 29
Public Ehsan Mixed Asset Growth Fund (PESMAGF) 25.11.2014 4 30
Mixed Asset - Regional
Public Islamic Asia Tactical Allocation Fund (PIATAF) 21.08.2007 5 31
Bond / Fixed Income
Public Islamic Bond Fund (PI BOND) 15.08.2001 2 32
Public Islamic Enhanced Bond Fund (PIEBF) 28.11.2006 2 33
Public Islamic Select Bond Fund (PISBF) 10.07.2007 2 34
Public Islamic Income Fund (PI INCOME) 14.08.2008 2 35
Public Islamic Infrastructure Bond Fund (PIINFBF) 16.11.2010 2 36
Public Islamic Strategic Bond Fund (PISTBF) 30.12.2010 2 37
Public Sukuk Fund (PSKF) 19.07.2011 2 38
Money Market
Public Islamic Money Market Fund (PIMMF) 05.06.2007 1 39
Public e-Islamic Cash Deposit Fund (PeICDF) 25.08.2014 1 40
* Risk level is referred as follows: 5 – Very High, 4 – High, 3 – Moderate to High, 2 – Low to Moderate and 1 – Very Low
Please refer to page 41 for page reference index of the respective funds according to alphabetical order and financial year end.
5
PUBLIC ITTIKAL FUND (P ITTIKAL)
Fund Objective 3-year
(1)
Fund Volatility
To achieve steady capital growth over the medium to long term period by investing in a portfolio of investments that complies with 5.8
low
Shariah principles. Lipper Analytics
15 Mar 18
P ITTIKAL Benchmark
Dialog Group Berhad
400% Petronas Chemicals Group Berhad
Axiata Group Berhad
Total Returns
200%
Distribution History
Financial Distribution Distribution (2) Declaration Distribution Annualised
0%
Year Type (Sen) Date Yield (%) Yield (%)
Interim 10.00 30.11.07 9.0
-200% 2008 14.6
May-97 Jul-02 Oct-07 Jan-13 Mar-18 Final 5.00 30.5.08 5.1
2009 Final 6.00 29.5.09 7.7 7.7
Benchmark: Kuala Lumpur Syariah Index (prior to 1 November 2007).
FTSE Bursa Malaysia EMAS Shariah Index (w.e.f. 1 November 2007). 2010 Final 8.00 31.5.10 10.1 10.1
Underlying index data are sourced from Lipper. 2011 Final 8.00 31.5.11 8.8 8.8
* Commencement Date - 9 May 1997
2012 Final 5.25 31.5.12 6.5 6.5
2013 Final 5.00 31.5.13 5.5 5.5
Asset Allocation as at 30 March 2018
2014 Final 6.65 30.5.14 7.3 7.3
Asset Type
2015 Final 6.00 29.5.15 6.9 6.9
Shariah-compliant Equities & Related Securities - Domestic 77.93%
2016 Final 3.50 31.5.16 4.3 4.3
Shariah-compliant Equities & Related Securities - Foreign 17.58%
2017 Final 3.00 31.5.17 3.6 3.6
Islamic Money Market Instruments & Others 4.49%
Note: Distribution yield simply measures the level of distributions and is not a measure of
Total 100.00%
fund performance.
Benchmark (%) -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14 10.72
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 5.8 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
6
PUBLIC ISLAMIC EQUITY FUND (PIEF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through a diverse selection of growth stocks that complies with Shariah principles. 6.4
moderate
Lipper Analytics
15 Mar 18
Top 5 Holdings
Performances of PIEF and Benchmark Index Security Name
(Since Fund Commencement* to 30 March 2018) Tenaga Nasional Berhad
320%
IHH Healthcare Berhad
PIEF Benchmark
Petronas Chemicals Group Berhad
240%
Hartalega Holdings Berhad
Nestle (Malaysia) Berhad
Total Returns
160%
Benchmark (%) -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14 10.72
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.4 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
7
PUBLIC ISLAMIC OPPORTUNITIES FUND (PIOF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investments in companies with small market capitalisation which comply with Shariah principles. 7.7
moderate
Lipper Analytics
15 Mar 18
Top 5 Sectors
Performance of PIOF vs its Benchmark Index Over the
Following Periods Ended 30 March 2018 Sectors
Industrial 33.06%
PIOF Benchmark PIOF Benchmark
(%) (%) (%) (%) Communications 15.36%
Total Total Annualised Annualised Consumer, Non-cyclical 12.88%
Return Return Return Return Financial 8.97%
1-year 1.42 -16.27 1.42 -16.27 Technology 8.65%
3-year 12.51 -12.31 4.01 -4.29
5-year 51.10 23.44 8.60 4.30
Top 5 Holdings
10-year 143.59 58.44 9.31 4.71
Since Security Name
Commencement 303.55 128.65 11.59 6.72
MY E.G. Services Berhad
V.S. Industry Berhad
Performances of PIOF and Benchmark Index Inari Amertron Berhad
(Since Fund Commencement* to 30 March 2018) Uchi Technologies Berhad
420% Kossan Rubber Industries Berhad
PIOF Benchmark
350%
Benchmark (%) -43.52 43.03 18.20 2.41 11.85 32.94 -5.29 9.51 -9.42 11.11
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 7.7 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
8
PUBLIC ISLAMIC DIVIDEND FUND (PIDF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income by investing in a portfolio of stocks that complies with Shariah requirements and which offer or have the potential 6.0
low
to offer attractive dividend yields. Lipper Analytics
15 Mar 18
100%
Distribution History
50%
Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
0%
2008 Final 2.00 30.4.08 6.5 6.5
-50%
2009 Final 1.25 30.4.09 4.9 4.9
Mar-06 Mar-09 Mar-12 Mar-15 Mar-18
Benchmark: Kuala Lumpur Syariah Index (prior to 1 November 2007). 2010 Final 1.25 30.4.10 4.0 4.0
FTSE Bursa Malaysia EMAS Shariah Index (1 November 2007 to 29 April 2011 Final 2.00 29.4.11 5.9 5.9
2010), 90% FTSE Bursa Malaysia EMAS Shariah Index and 10% 3-Month
Islamic Interbank Money Market (IIMM) rate (w.e.f. 30 April 2010). 2012 Final 2.00 30.4.12 5.7 5.7
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
2013 Final 2.00 30.4.13 5.4 5.4
* Commencement Date - 6 March 2006
2014 Final 3.00 30.4.14 7.8 7.8
Asset Allocation as at 30 March 2018 Interim 1.00 31.10.14 2.6
2015 5.4
Asset Type Final 1.00 30.4.15 2.7
Shariah-compliant Equities & Related Securities - Domestic 76.23%
Interim 0.50 30.10.15 1.4
Shariah-compliant Equities & Related Securities - Foreign 17.95% 2016 2.8
Final 0.50 29.4.16 1.4
Islamic Debt Securities 0.38%
Interim 0.50 31.10.16 1.4
Islamic Money Market Instruments & Others 5.44% 2017 2.8
Final 0.50 28.4.17 1.4
Total 100.00%
2018 Interim 0.50 31.10.17 1.4 -
Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
Annual Returns for Calendar Years Ended 31 December
Calendar Year 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
(2)
Fund Return (%) -30.19 33.99 18.78 9.20 15.62 10.84 0.06 3.60 -1.62 9.38
Benchmark (%) -43.52 43.03 17.15 2.55 10.98 12.28 -3.39 2.54 -5.19 10.01
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.0 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
9
PUBLIC ISLAMIC SECTOR SELECT FUND (PISSF)
Fund Objective 3-year
(1)
Fund Volatility
To seek long-term capital appreciation by investing in a portfolio of securities, mainly equities, that complies with Shariah requirements 6.4
moderate
from market sectors in the domestic market. Lipper Analytics
15 Mar 18
Distribution History
Performances of PISSF and FTSE Bursa Malaysia EMAS Financial Year Distribution (2) Declaration Distribution
Shariah (FBMS) Index (Since Fund Commencement* to (Sen) Date Yield (%)
30 March 2018) 2009 0.50 30.11.09 2.2
90%
2010 1.00 30.11.10 3.5
PISSF FBMS Index
60% 2011 2.00 30.11.11 7.2
30%
2013 3.50 29.11.13 11.9
Benchmark (%) -43.52 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14 10.72
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.4 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
10
PUBLIC ISLAMIC SELECT TREASURES FUND (PISTF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah 7.7
moderate
requirements in the domestic market. Lipper Analytics
15 Mar 18
Distribution History
Performances of PISTF and Benchmark Index
Financial Year Distribution (2) Declaration Distribution
(Since Fund Commencement* to 30 March 2018) (Sen) Date Yield (%)
160%
2010 1.25 31.5.10 4.9
PISTF Benchmark
120% 2011 1.50 31.5.11 4.9
Fund Return (2) (%) 31.00 23.99 -0.14 9.78 17.92 -3.26 18.37 -2.67 12.52
Benchmark (%) 43.03 18.20 2.41 11.85 32.94 -5.29 15.97 -4.29 20.47
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 7.7 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
11
PUBLIC ISLAMIC OPTIMAL GROWTH FUND (PIOGF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income and capital growth by investing in Shariah-compliant stocks which offer attractive dividend yields and growth stocks 6.2
moderate
in the domestic market. Lipper Analytics
15 Mar 18
Distribution History
Performances of PIOGF and FTSE Bursa Malaysia EMAS
Financial Year Distribution (2) Declaration Distribution
Shariah (FBMS) Index (Since Fund Commencement* to (Sen) Date Yield (%)
30 March 2018)
2009 0.30 30.1.09 1.6
88%
PIOGF FBMS Index 2010 0.50 29.1.10 2.0
66%
2011 1.25 31.1.11 4.4
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.2 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
12
PUBLIC ISLAMIC SELECT ENTERPRISES FUND (PISEF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth through investments in the largest 50 companies in terms of market capitalisation (at the point of purchase) 6.6
moderate
listed on Bursa Securities which comply with Shariah requirements. Lipper Analytics
15 Mar 18
Benchmark (%) 43.03 18.20 2.41 11.85 13.29 -4.17 2.35 -6.14 10.72
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.6 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
13
PUBLIC ISLAMIC ALPHA-40 GROWTH FUND (PIA40GF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth by investing in stocks which comply with Shariah requirements. 6.6
moderate
Lipper Analytics
15 Mar 18
20%
Axiata Group Berhad
Distribution History
0%
Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
-20% 2011 0.75 30.11.11 3.0
Dec-10 Oct-12 Aug-14 May-16 Mar-18
Benchmark: Benchmark for PIA40GF is a composite of 75% FTSE Bursa Malaysia 2012 1.50 30.11.12 5.7
EMAS Shariah Index, 15% customised index by S&P Dow Jones Indices,
LLC based on Top 100 constituents by market capitalisation of the S&P 2013 1.25 29.11.13 4.4
Shariah BMI Asia Ex-Japan Index and 10% 3-Month Islamic Interbank
Money Market (IIMM) rate. 2014 1.25 28.11.14 4.5
Underlying index data are sourced from S&P Dow Jones Indices, LLC,
Lipper and Bank Negara Malaysia and expressed in Ringgit terms. 2015 0.50 30.11.15 1.8
* Commencement Date - 6 December 2010
2016 0.25 30.11.16 0.9
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.6 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
14
PUBLIC ISLAMIC TREASURES GROWTH FUND (PITGF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing primarily in small and medium sized companies, which 7.0
moderate
comply with Shariah principles. Lipper Analytics
15 Mar 18
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 7.0 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
15
PUBLIC ITTIKAL SEQUEL FUND (PITSEQ)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period by investing in a portfolio of investments that complies with Shariah 6.1
moderate
principles. Lipper Analytics
15 Mar 18
40%
DiGi.Com Berhad
20%
Distribution History
0%
Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
-20%
Oct-11 Jun-13 Jan-15 Aug-16 Mar-18 2012 1.25 30.11.12 4.7
Benchmark: Index data are sourced from Lipper. 2013 1.75 29.11.13 6.0
* Commencement Date - 31 October 2011 2014 1.75 28.11.14 6.1
Shariah-compliant Equities & Related Securities - Domestic 81.26% Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
Shariah-compliant Equities & Related Securities - Foreign 10.03%
Islamic Money Market Instruments & Others 8.71%
Total 100.00%
Fund Return (2) (%) 12.17 16.61 2.65 7.40 -4.94 12.02
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.1 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
16
PUBLIC ISLAMIC SAVINGS FUND (PISVF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income over the medium to long-term period by investing in a portfolio of investments that complies with Shariah requirements 6.2
moderate
and which offer or have the potential to offer attractive dividend yields. Lipper Analytics
15 Mar 18
Top 5 Holdings
Performances of PISVF and Benchmark Index
Security Name
(Since Fund Commencement* to 30 March 2018)
60% Tenaga Nasional Berhad
PISVF Benchmark Petronas Chemicals Group Berhad
40% IHH Healthcare Berhad
Hartalega Holdings Berhad
Total Returns
0%
Distribution History
Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
-20%
Dec-11 Jul-13 Feb-15 Sep-16 Mar-18 2012 Final 1.00 31.12.12 3.7 3.7
Benchmark: Benchmark for PISVF is a composite of 90% FTSE Bursa Malaysia EMAS 2013 Final 0.75 31.12.13 2.5 2.5
Shariah Index and 10% 3-Month Islamic Interbank Money Market
(IIMM) rate. Interim 0.50 30.6.14 1.7
Underlying index data are sourced from Lipper and Bank Negara 2014 3.4
Malaysia. Final 0.50 31.12.14 1.7
* Commencement Date - 30 December 2011
Interim 0.50 30.6.15 1.7
2015 3.4
Final 0.50 31.12.15 1.7
Asset Allocation as at 30 March 2018
Interim 0.25 30.6.16 0.9
Asset Type 2016 2.3
Final 0.40 30.12.16 1.4
Shariah-compliant Equities & Related Securities - Domestic 77.24%
Shariah-compliant Equities & Related Securities - Foreign 15.46% Interim 0.25 30.6.17 0.8
2017 1.6
Islamic Money Market Instruments & Others 7.30% Final 0.25 29.12.17 0.8
Total 100.00% Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
Fund Return (2) (%) 12.08 13.09 0.16 6.40 -3.33 14.04
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.2 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
17
PUBLIC ISLAMIC GROWTH & INCOME FUND (PISGIF)
Fund Objective 3-year
(1)
Fund Volatility
To seek capital growth and income by investing in a portfolio of Shariah-compliant growth and dividend stocks. 6.6
moderate
Lipper Analytics
15 Mar 18
0%
Nestle (Malaysia) Berhad
Benchmark: Index data are sourced from Lipper. 2015 0.50 31.12.15 2.1
Note: Distribution yield simply measures the level of distributions and is not a measure of
Asset Allocation as at 30 March 2018 fund performance.
Asset Type
Shariah-compliant Equities & Related Securities - Domestic 84.55%
Shariah-compliant Equities & Related Securities - Foreign 10.77%
Islamic Money Market Instruments & Others 4.68%
Total 100.00%
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.6 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
18
PUBLIC ISLAMIC ENTERPRISES EQUITY FUND (PIENTEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah
requirements.
-8%
Distribution History
-16% Financial Year Distribution (1) Declaration Distribution
Apr-15 Jan-16 Oct-16 Jul-17 Mar-18
(Sen) Date Yield (%)
Benchmark: Benchmark for PIENTEF is a composite of 75% FTSE Bursa Malaysia
Hijrah Shariah Index, 15% customised index by S&P Dow Jones 2017 0.50 29.9.17 2.0
Indices, LLC based on Top 100 constituents by market capitalisation
of the S&P Shariah BMI Asia Ex-Japan Index and 10% 3-Month Islamic Note: Distribution yield simply measures the level of distributions and is not a measure of
Interbank Money Market (IIMM) rate. fund performance.
Underlying index data are sourced from S&P Dow Jones Indices, LLC,
Lipper and Bank Negara Malaysia and expressed in Ringgit terms.
* Commencement Date - 7 April 2015
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
19
PUBLIC ISLAMIC ADVANTAGE GROWTH EQUITY FUND (PIAVGEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a diversified portfolio of stocks that complies with
Shariah requirements.
Top 5 Holdings
Performances of PIAVGEF and FTSE Bursa Malaysia Hijrah Security Name
Shariah (FBMHS) Index (Since Fund Commencement* to Top Glove Corporation Berhad
30 March 2018) MY E.G. Services Berhad
30%
PIAVGEF FBMHS Index Dutch Lady Milk Industries Berhad
24%
Fraser & Neave Holdings Berhad
18% QL Resources Berhad
Total Returns
12%
6% Distribution History
Financial Year Distribution (1) Declaration Distribution
0%
(Sen) Date Yield (%)
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
20
PUBLIC ISLAMIC EMERGING OPPORTUNITIES FUND (PIEMOF)
Fund Objective
To achieve capital growth through investments in Shariah-compliant companies with mid and small market capitalisation.
Top 5 Sectors
Performance of PIEMOF vs its Benchmark Index Over the
Sectors
Following Periods Ended 30 March 2018
Consumer, Non-cyclical 22.94%
PIEMOF Benchmark PIEMOF Benchmark Industrial 20.20%
(%) (%) (%) (%)
Communications 12.05%
Total Total Annualised Annualised
Return Return Return Return Financial 8.36%
1-year 6.66 -6.95 6.66 -6.95 Consumer, Cyclical 6.43%
Since
Commencement 16.73 5.64 8.28 2.86
Top 5 Holdings
Security Name
Performances of PIEMOF and Benchmark Index MY E.G. Services Berhad
(Since Fund Commencement* to 30 March 2018) Dutch Lady Milk Industries Berhad
30% Inari Amertron Berhad
PIEMOF Benchmark
V.S. Industry Berhad
24%
Padini Holdings Berhad
18%
Total Returns
-6%
Note: Distribution yield simply measures the level of distributions and is not a measure of
Apr-16 Oct-16 Apr-17 Oct-17 Mar-18 fund performance.
Benchmark: Benchmark for PIEMOF is a composite of 90% customised index by
FTSE based on the constituents with market capitalisation below
RM6.0 billion within the FTSE Bursa Malaysia EMAS Shariah Index and
10% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from FTSE International Limited
and Bank Negara Malaysia.
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
21
PUBLIC ASIA ITTIKAL FUND (PAIF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period by investing in a portfolio of investments in domestic and regional 9.8
high
markets that complies with Shariah requirements. Lipper Analytics
15 Mar 18
80%
Alibaba Group Holding Limited - ADR
Sunny Optical Technology (Group) Company Limited
40%
0%
Distribution History
Financial Year Distribution (2) Declaration Distribution
-40% (Sen) Date Yield (%)
Sep-06 Jul-09 Jun-12 May-15 Mar-18
2009 0.50 30.10.09 1.9
Benchmark: Benchmark for PAIF is a composite of 30% Kuala Lumpur Syariah Index
(prior to 1 November 2007), 30% FTSE Bursa Malaysia EMAS Shariah 2010 1.00 29.10.10 3.8
Index (1 November 2007 to 29 April 2011), 30% FTSE Bursa Malaysia
Hijrah Shariah Index (30 April 2011 to 29 April 2013), 15% FTSE Bursa 2011 1.25 31.10.11 5.1
Malaysia Hijrah Shariah Index (w.e.f. 30 April 2013), 15% customised
index by S&P Dow Jones Indices, LLC based on top 20 constituents by 2012 1.00 31.10.12 3.8
market capitalisation of the S&P BMI Shariah Japan Index (w.e.f. 30
April 2013) and 70% Dow Jones Islamic Market Asia Ex-Japan IndexSM 2013 0.75 31.10.13 2.8
(prior to 1 January 2009), 70% S&P Shariah BMI Asia Ex-Japan Index
(w.e.f. 1 January 2009). 2014 1.00 31.10.14 3.6
Underlying index data are sourced from S&P Dow Jones Indices, LLC and
Lipper and expressed in Ringgit terms. 2015 1.00 30.10.15 3.1
* Commencement Date - 11 September 2006 2016 1.00 31.10.16 3.1
Asset Type Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
Shariah-compliant Equities & Related Securities - Domestic 6.96%
Shariah-compliant Equities & Related Securities - Foreign 83.48%
Islamic Money Market Instruments & Others 9.56%
Total 100.00%
Fund Return (2) (%) -36.95 47.51 3.89 -6.52 15.35 6.07 4.55 15.42 4.22 20.12
Benchmark (%) -47.67 59.21 8.86 -6.82 14.43 10.37 7.61 16.16 5.44 19.78
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 9.8 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
22
PUBLIC ISLAMIC ASIA DIVIDEND FUND (PIADF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income by investing in a portfolio of stocks in domestic and regional markets that complies with Shariah requirements and which 9.2
high
offer or have the potential to offer attractive dividend yields. Lipper Analytics
15 Mar 18
Distribution History
0% Financial Year Distribution (2) Declaration Distribution
(Sen) Date Yield (%)
2008 0.40 30.4.08 1.8
-50%
Apr-07 Jan-10 Oct-12 Jul-15 Mar-18 2009 0.25 30.4.09 1.4
Benchmark: Benchmark for PIADF is a composite of 30% Kuala Lumpur Syariah Index
(prior to 1 November 2007), 30% FTSE Bursa Malaysia EMAS Shariah 2010 0.75 30.4.10 3.5
Index (1 November 2007 to 29 April 2011), 20% FTSE Bursa Malaysia
Hijrah Shariah Index (w.e.f. 30 April 2011), 70% Dow Jones Islamic 2011 0.40 29.4.11 1.7
Market Asia Ex-Japan IndexSM (prior to 1 January 2009), 70% S&P Shariah
BMI Asia Ex-Japan Index (w.e.f. 1 January 2009) and 10% 3-Month 2012 0.40 30.4.12 1.7
Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from S&P Dow Jones Indices, LLC, 2013 0.40 30.4.13 1.6
Lipper and Bank Negara Malaysia and expressed in Ringgit terms. 2014 0.40 30.4.14 1.4
* Commencement Date - 23 April 2007
2015 1.00 30.4.15 3.4
Asset Allocation as at 30 March 2018 2016 1.00 29.4.16 3.7
Asset Type 2017 1.00 28.4.17 3.1
Shariah-compliant Equities & Related Securities - Domestic 12.08% Note: Distribution yield simply measures the level of distributions and is not a measure of
Shariah-compliant Equities & Related Securities - Foreign 69.87% fund performance.
Benchmark (%) -47.67 59.21 8.86 -6.90 13.21 9.91 6.49 11.60 3.49 17.97
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 9.2 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
23
PUBLIC CHINA ITTIKAL FUND (PCIF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing in a portfolio of Shariah-compliant investments in the 10.4
high
greater China region and the balance in the domestic market. Lipper Analytics
15 Mar 18
0%
Distribution History
Financial Year Distribution (2) Declaration Distribution
-30%
(Sen) Date Yield (%)
2016 0.30 30.11.16 1.1
-60%
Dec-07 Jul-10 Feb-13 Aug-15 Mar-18 Note: Distribution yield simply measures the level of distributions and is not a measure of
Benchmark: Benchmark for PCIF is a composite of 50% Dow Jones Islamic Market fund performance.
Hong Kong IndexSM (prior to 1 January 2009), 50% S&P Shariah BMI
Hong Kong and China ‘H’ Shares Index (w.e.f. 1 January 2009), 30% Dow
Jones Islamic Market Taiwan IndexSM (prior to 1 January 2009), 30% S&P
Shariah BMI Taiwan Index (w.e.f. 1 January 2009) and 20% FTSE Bursa
Malaysia EMAS Shariah Index (prior to 30 April 2011), 20% FTSE Bursa
Malaysia Hijrah Shariah Index (w.e.f. 30 April 2011).
Underlying index data are sourced from S&P Dow Jones Indices, LLC and
Lipper and expressed in Ringgit terms.
* Commencement Date - 10 December 2007
Benchmark (%) -47.45 61.42 4.35 -12.20 12.84 14.34 9.17 14.83 6.90 20.38
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 10.4 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
24
PUBLIC ISLAMIC ASIA LEADERS EQUITY FUND (PIALEF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period - The Edge | Thomson Reuters Lipper Malaysia Fund Awards 2018: 10.3
high
by investing mainly in stocks of companies with market • Equity Asia Pacific ex Japan - Malaysia Islamic, 3 years Lipper Analytics
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 10.3 and is classified as “High” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
25
PUBLIC ISLAMIC OPTIMAL EQUITY FUND (PIOEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a diversified portfolio of stocks that complies with
Shariah requirements.
6%
Hartalega Holdings Berhad
Dialog Group Berhad
0%
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
26
PUBLIC ISLAMIC GROWTH BALANCED FUND (PIGRBF)
Fund Objective
To achieve capital growth over the medium to long-term period through a balanced asset allocation approach.
12%
Kossan Rubber Industries Berhad
Press Metal Aluminium Holdings Berhad
6%
0%
Distribution History
Financial Year Distribution (1) Declaration Distribution
-6%
Oct-15 Jun-16 Jan-17 Aug-17 Mar-18 (Sen) Date Yield (%)
Benchmark: Benchmark for PIGRBF is a composite of 60% FTSE Bursa Malaysia 2016 0.25 31.10.16 1.0
Hijrah Shariah Index and 40% 3-Month Islamic Interbank Money
Market (IIMM) rate. 2017 1.00 31.10.17 3.5
Underlying index data are sourced from Lipper and Bank Negara
Malaysia. Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
* Commencement Date - 27 October 2015
Note:
(1)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
27
PUBLIC ISLAMIC MIXED ASSET FUND (PIMXAF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah 5.5
low
requirements. Lipper Analytics
15 Mar 18
0%
Distribution History
Financial Year Distribution (4) Declaration Distribution
-10%
Dec-11 Jul-13 Feb-15 Aug-16 Mar-18 (Sen) Date Yield (%)
Benchmark: Benchmark for PIMXAF is a composite of 70% FTSE Bursa Malaysia
2008 1.00 28.11.08 4.8
EMAS Shariah Index and 30% 3-Month Islamic Interbank Money Market
(IIMM) rate (w.e.f. 12 December 2011). 2009 0.25 30.11.09 1.0
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
* Note: Upon the issuance of supplementary prospectus on 12 December 2011, the 2010 1.00 30.11.10 3.6
fund has adopted its new name PIMXAF to reflect the change in fund objective,
investment policy, investment strategy and benchmark. 2011 1.00 30.11.11 3.7
Shariah-compliant Equities & Related Securities - Domestic 44.04% 2014 2.00 28.11.14 7.5
Shariah-compliant Equities & Related Securities - Foreign 23.36% 2015 2.00 30.11.15 8.0
Islamic Debt Securities 26.31% 2016 0.40 30.11.16 1.7
Islamic Money Market Instruments & Others 6.29%
Note: Distribution yield simply measures the level of distributions and is not a measure of
Total 100.00% fund performance.
Fund Return (4) (%) -28.18 26.14 10.10 0.12 2.47(2) 8.14 8.84 -0.90 3.10 -4.85 5.57
(3) (2)
Benchmark (%) -27.54 25.34 11.82 -0.07 3.43 9.26 10.27 -1.84 2.90 -3.28 8.57
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 5.5 and is classified as “Low” (source : Lipper).
(2)
The figure shown is for period since PIMXAF commencement date - 12 December 2011.
(3)
Prior to 12 December 2011, the benchmark for the fund is a composite of 60% the returns of the KLSI and 40% the returns on 3-Month Islamic Interbank Money Market (IIMM) rate.
Effective from 1 November 2007 Bursa Securities replaced KLSI with FTSE Bursa Malaysia EMAS Shariah Index. The Index is an appropriate performance benchmark for balanced fund.
(4)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
28
PUBLIC EHSAN MIXED ASSET CONSERVATIVE FUND (PESMACF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income and achieve capital growth over the medium to long-term period primarily through a portfolio allocation across sukuk 3.5
low
and Shariah-compliant equities. Lipper Analytics
15 Mar 18
10%
2017 0.75 28.4.17 2.9
5% Note: Distribution yield simply measures the level of distributions and is not a measure of
fund performance.
0%
-5%
Dec-14 Oct-15 Aug-16 Jun-17 Mar-18
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 3.5 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
29
PUBLIC EHSAN MIXED ASSET GROWTH FUND (PESMAGF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period primarily through a portfolio allocation across Shariah-compliant 6.7
moderate
equities and sukuk. Lipper Analytics
15 Mar 18
Top 5 Holdings
Performances of PESMAGF and Benchmark Index Security Name
(Since Fund Commencement* to 30 March 2018) Top Glove Corporation Berhad
50% TIME dotCom Berhad
PESMAGF Benchmark
MY E.G. Services Berhad
40%
Inari Amertron Berhad
30%
Total Returns
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 6.7 and is classified as “Moderate” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
30
PUBLIC ISLAMIC ASIA TACTICAL ALLOCATION FUND (PIATAF)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments in domestic and regional 9.1
high
markets that complies with Shariah requirements. Lipper Analytics
15 Mar 18
0%
Distribution History
Financial Year Distribution (4) Declaration Distribution
-20% (Sen) Date Yield (%)
Dec-11 Jul-13 Feb-15 Aug-16 Mar-18
Benchmark: Benchmark for PIATAF is a composite of 70% S&P Shariah BMI Asia Ex- 2010 0.75 29.10.10 3.3
Japan Index and 30% 3-Month Islamic Interbank Money Market (IIMM)
rate (w.e.f. 12 December 2011). Note: Distribution yield simply measures the level of distributions and is not a measure of
Underlying index data are sourced from S&P Dow Jones Indices, LLC and fund performance.
Bank Negara Malaysia and expressed in Ringgit terms.
* Note: Upon the issuance of supplementary prospectus on 12 December 2011,
the fund has adopted its new name PIATAF to reflect the change in fund
objective, investment policy, investment strategy and benchmark.
Fund Return (4) (%) -30.73 30.36 2.08 -8.70 1.05(2) 13.58 6.56 5.06 14.57 2.69 20.33
(3) (2)
Benchmark (%) -32.05 37.54 4.23 -6.33 0.59 10.80 7.91 7.01 12.62 5.60 16.95
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 9.1 and is classified as “High” (source : Lipper).
(2)
The figure shown is for period since PIATAF commencement date - 12 December 2011.
(3)
Prior to 12 December 2011, the benchmark for the fund is a composite of 60% Dow Jones Islamic Market Asia Ex-Japan IndexSM (prior to 1 January 2009), 60% S&P Shariah BMI Asia
Ex-Japan Index (w.e.f. 1 January 2009) and 40% 3-Month Islamic Interbank Money Market (IIMM) rate.
(4)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
31
PUBLIC ISLAMIC BOND FUND (PI BOND)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investment in Islamic debt securities. 1.7
very low
Lipper Analytics
15 Mar 18
Current Fund Size : NAV : RM431.89 Million 2009 4.00 30.10.09 3.9
UNITS : 442.52 Million 2010 5.00 29.10.10 4.7
Performance of PI BOND vs its Benchmark Index Over the 2012 6.00 31.10.12 5.8
PI BOND 12-M GIA PI BOND 12-M GIA 2014 6.00 31.10.14 6.1
(%) (%) (%) (%)
2015 6.00 30.10.15 6.2
Total Total Annualised Annualised
Return Return Return Return 2016 6.00 31.10.16 6.2
1-year 4.18 3.13 4.18 3.13 2017 4.50 31.10.17 4.7
3-year 14.28 10.03 4.55 3.24 Note: Distribution yield simply measures the level of distributions and is not a measure of
5-year 23.42 16.71 4.29 3.14 fund performance.
10-year 67.77 36.30 5.31 3.14
Since
149.33 70.80 5.67 3.28
Commencement
80%
40%
0%
-40%
Sep-01 Oct-05 Dec-09 Feb-14 Mar-18
Source: Bank Negara Malaysia
* Commencement Date - 4 September 2001
Benchmark (%) 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33 3.12
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.7 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
32
PUBLIC ISLAMIC ENHANCED BOND FUND (PIEBF)
Fund Objective 3-year
(1)
Fund Volatility
Seeks to provide a combination of annual income and modest capital growth primarily through a portfolio allocation across Islamic 1.8
very low
debt securities and equities which comply with Shariah requirements. Lipper Analytics
15 Mar 18
Current Fund Size : NAV : RM79.67 Million 2009 2.00 31.12.09 1.9
UNITS : 74.32 Million 2010 3.00 30.12.10 2.8
40%
20%
0%
-20%
Dec-06 Oct-09 Aug-12 Jun-15 Mar-18
Fund Return (2) (%) -4.73 10.18 4.87 6.09 5.22 2.80 3.80 4.37 3.55 3.63
Benchmark (%) 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33 3.12
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.8 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
33
PUBLIC ISLAMIC SELECT BOND FUND (PISBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income through investments in Islamic debt securities which have remaining maturities of 7 years and below and 1.0
very low
Islamic money market instruments. Lipper Analytics
15 Mar 18
Current Fund Size : NAV : RM257.35 Million 2009 3.50 31.7.09 3.4
UNITS : 245.47 Million 2010 5.00 30.7.10 4.8
40%
Total Returns
20%
0%
-20%
Jul-07 Mar-10 Nov-12 Jul-15 Mar-18
Source: Bank Negara Malaysia
* Commencement Date - 30 July 2007
Fund Return (2) (%) 2.57 6.83 4.65 5.50 4.01 3.18 3.16 3.51 4.14 4.54
Benchmark (%) 3.45 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33 3.12
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.0 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
34
PUBLIC ISLAMIC INCOME FUND (PI INCOME)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income over the medium to long-term period by investing in sukuk and Islamic money market instruments. 1.0
very low
Lipper Analytics
15 Mar 18
Current Fund Size : NAV : RM429.94 Million 2010 3.50 30.7.10 3.3
40%
Total Returns
20%
0%
-20%
Sep-08 Jan-11 Jun-13 Nov-15 Mar-18
Benchmark (%) 3.01 2.93 3.25 3.33 2.98 2.99 3.20 3.33 3.12
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.0 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
35
PUBLIC ISLAMIC INFRASTRUCTURE BOND FUND (PIINFBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investments in sukuk of companies in the infrastructure sector. 1.8
very low
Lipper Analytics
15 Mar 18
4 3 4
Lipper Leaders (Overall Ratings) :
Lipper Classification : Bond MYR
Consistent Preservation Total Return
Return
Current Fund Size : NAV : RM397.11 Million 2012 4.00 30.11.12 3.9
Performance of PIINFBF vs its Benchmark Index Over the 2015 4.00 30.11.15 3.9
20%
10%
0%
-10%
Dec-10 Oct-12 Aug-14 May-16 Mar-18
Fund Return (2) (%) 6.02 2.80 4.37 3.72 3.91 5.29 4.47
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.8 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
36
PUBLIC ISLAMIC STRATEGIC BOND FUND (PISTBF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income to investors through investments in sukuk and Islamic money market instruments. 1.5
very low
Lipper Analytics
15 Mar 18
2 4 2
Lipper Leaders (Overall Ratings) : Morningstar RatingTM (Overall) :
Lipper Classification : Bond MYR Morningstar CategoryTM : Bonds - Malaysia (Syariah)
Consistent Preservation Total Return
Return
Current Fund Size : NAV : RM219.77 Million 2012 3.50 31.12.12 3.4
UNITS : 210.80 Million 2013 3.50 31.12.13 3.4
Performance of PISTBF vs its Benchmark Index Over the 2015 4.25 31.12.15 4.1
20%
10%
0%
-10%
Dec-10 Oct-12 Aug-14 Jun-16 Mar-18
Fund Return (2) (%) 6.33 3.66 3.16 3.58 3.46 4.56 3.52
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.5 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
37
PUBLIC SUKUK FUND (PSKF)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income through investments in sukuk and Islamic money market instruments. 1.9
low
Lipper Analytics
15 Mar 18
4 3 4
Lipper Leaders (Overall Ratings) : Morningstar RatingTM (Overall) :
Lipper Classification : Bond MYR Morningstar CategoryTM : Bonds - Malaysia (Syariah)
Consistent Preservation Total Return
Return
Current Fund Size : NAV : RM177.15 Million 2013 3.50 30.8.13 3.4
Note: Distribution yield simply measures the level of distributions and is not a measure of
PSKF 12-M GIA PSKF 12-M GIA
fund performance.
(%) (%) (%) (%)
Total Total Annualised Annualised
Return Return Return Return
1-year 4.22 3.13 4.22 3.13
3-year 13.24 10.03 4.23 3.24
5-year 20.91 16.71 3.87 3.14
Since
29.45 23.07 3.96 3.17
Commencement
20%
10%
0%
-10%
Aug-11 Apr-13 Dec-14 Jul-16 Mar-18
Fund Return (2) (%) 3.97 2.47 3.78 3.59 5.02 4.49
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 1.9 and is classified as “Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
38
PUBLIC ISLAMIC MONEY MARKET FUND (PIMMF)
Fund Objective 3-year
(1)
Fund Volatility
To provide liquidity and current income, while maintaining capital stability by investing in instruments that comply with Shariah 0.1
very low
requirements. Lipper Analytics
15 Mar 18
Performance of PIMMF vs its Benchmark Index Over the 2011 2.50 30.6.11 2.5
Since
35.94 36.39 2.88 2.91
Commencement
PIMMF Benchmark
30%
Total Returns
20%
10%
0%
-10%
Jun-07 Feb-10 Oct-12 Jul-15 Mar-18
Benchmark: 3-Month Islamic Interbank Money Market (IIMM) rate (prior to
30 April 2010).
1-Month Islamic Interbank Money Market (IIMM) rate (30 April 2010 to
29 April 2013).
90% Public Islamic Bank 1-Month Mudharabah General Investment
Account-i (30 April 2013 to 29 April 2015), 90% Public Islamic Bank
1-Month Term Deposit-i (w.e.f. 30 April 2015) and 10% Public Islamic
Bank Wadiah Savings Account-i (w.e.f. 30 April 2013).
Source: Bank Negara Malaysia and Public Bank Berhad.
* Commencement Date - 5 June 2007
Benchmark (%) 3.60 2.29 2.51 3.13 3.11 2.87 2.76 2.85 2.83 2.77
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 0.1 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
39
PUBLIC e-ISLAMIC CASH DEPOSIT FUND (PeICDF)
Fund Objective 3-year
(1)
Fund Volatility
6%
Notes: Distribution yield simply measures the level of distributions and is not a measure of
4% fund performance.
0%
-2%
Aug-14 Jul-15 Jun-16 May-17 Mar-18
Notes:
(1)
Based on the fund’s portfolio returns as at 15 March 2018, the Volatility Factor (VF) for this fund is 0.1 and is classified as “Very Low” (source : Lipper).
(2)
Fund performance and distributions payable (if any) may go down as well as up. Past performance and distributions of the fund is not indicative of future performance and
distributions.
40
Name of Funds by Alphabetical Order Page No. Name of Funds by Financial Year End Financial Year End Page No.
Public Asia Ittikal Fund 22 Public Islamic Emerging Opportunities Fund 31 January 21
Public China Ittikal Fund 24 Public Islamic Optimal Growth Fund 31 January 12
Public Ehsan Mixed Asset Conservative Fund 29 Public Islamic Optimal Equity Fund 28 February 26
Public Ehsan Mixed Asset Growth Fund 30 Public e-Islamic Cash Deposit Fund 31 March 40
Public e-Islamic Cash Deposit Fund 40 Public Ehsan Mixed Asset Conservative Fund 30 April 29
Public Islamic Advantage Growth Equity Fund 20 Public Ehsan Mixed Asset Growth Fund 30 April 30
Public Islamic Alpha-40 Growth Fund 14 Public Islamic Asia Dividend Fund 30 April 23
Public Islamic Asia Dividend Fund 23 Public Islamic Dividend Fund 30 April 9
Public Islamic Asia Leaders Equity Fund 25 Public Islamic Equity Fund 31 May 7
Public Islamic Asia Tactical Allocation Fund 31 Public Islamic Select Treasures Fund 31 May 11
Public Islamic Bond Fund 32 Public Ittikal Fund 31 May 6
Public Islamic Dividend Fund 9 Public Islamic Money Market Fund 30 June 39
Public Islamic Emerging Opportunities Fund 21 Public Islamic Income Fund 31 July 35
Public Islamic Enhanced Bond Fund 33 Public Islamic Opportunities Fund 31 July 8
Public Islamic Enterprises Equity Fund 19 Public Islamic Select Bond Fund 31 July 34
Public Islamic Equity Fund 7 Public Islamic Select Enterprises Fund 31 July 13
Public Islamic Growth & Income Fund 18 Public Islamic Treasures Growth Fund 31 August 15
Public Islamic Growth Balanced Fund 27 Public Sukuk Fund 31 August 38
Public Islamic Income Fund 35 Public Islamic Advantage Growth Equity Fund 30 September 20
Public Islamic Infrastructure Bond Fund 36 Public Islamic Enterprises Equity Fund 30 September 19
Public Islamic Mixed Asset Fund 28 Public Asia Ittikal Fund 31 October 22
Public Islamic Money Market Fund 39 Public Islamic Asia Tactical Allocation Fund 31 October 31
Public Islamic Opportunities Fund 8 Public Islamic Bond Fund 31 October 32
Public Islamic Optimal Equity Fund 26 Public Islamic Growth Balanced Fund 31 October 27
Public Islamic Optimal Growth Fund 12 Public China Ittikal Fund 30 November 24
Public Islamic Savings Fund 17 Public Islamic Alpha-40 Growth Fund 30 November 14
Public Islamic Sector Select Fund 10 Public Islamic Asia Leaders Equity Fund 30 November 25
Public Islamic Select Bond Fund 34 Public Islamic Infrastructure Bond Fund 30 November 36
Public Islamic Select Enterprises Fund 13 Public Islamic Mixed Asset Fund 30 November 28
Public Islamic Select Treasures Fund 11 Public Islamic Sector Select Fund 30 November 10
Public Islamic Strategic Bond Fund 37 Public Ittikal Sequel Fund 30 November 16
Public Islamic Treasures Growth Fund 15 Public Islamic Enhanced Bond Fund 31 December 33
Public Ittikal Fund 6 Public Islamic Growth & Income Fund 31 December 18
Public Ittikal Sequel Fund 16 Public Islamic Savings Fund 31 December 17
Public Sukuk Fund 38 Public Islamic Strategic Bond Fund 31 December 37
A copy of the Master Prospectus 1 of Public Series of Shariah-Based Funds dated 30 April 2017 and Prospectus of Public e-Islamic Cash
Deposit Fund dated 9 March 2017 have been registered by, and lodged with, the Securities Commission Malaysia (SC), which shall not
be interpreted to mean that the SC recommends the investment.
The SC shall not be liable for any non-disclosure on the part of the management company and takes no responsibility for the contents
of the Prospectuses, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for
any loss howsoever arising from or in reliance upon the whole or any part of the contents of the Prospectuses.
Investors are advised to read and understand the contents of the above Prospectuses. If in doubt, please consult a professional adviser.
You have the right to request for a copy of the Product Highlights Sheet of the fund(s). You are advised to read and understand the
contents of the relevant fund’s Product Highlights Sheet before making any investment decision.
Applications by investors to purchase units of the funds must come in the form of a duly completed application form referred to and
accompanying the (relevant) Prospectuses.
Investors should note that there are fees, charges and risks involved in investing in unit trust funds. Therefore, you should consider
carefully the fees, charges and risks before making an investment decision. Please refer to the Prospectuses for more information.
Unit prices and distributions payable, if any, may go down as well as up.
Past performance of the funds should not be taken as an indication of future performance. Neither the Manager nor the Trustee
guarantees the performance of any of the funds or the repayment of capital.
The funds’ past distribution is not a guarantee of future distributions. Where unit split or distribution is declared, investors are advised
that following the issue of additional units and/or distribution, the net asset value per unit will be reduced accordingly to reflect/
account for the unit split and/or distribution.
Where a unit split is declared, investors should note that the value of their investment in Ringgit Malaysia terms will remain unchanged
after the distribution of additional units.
While it is the Manager’s policy to discourage loan financing in the purchase of units, nevertheless, this facility is available to interested
investors. However, YOU are advised to read and understand the contents of the unit trust loan financing risk disclosure statement
before deciding to borrow to purchase units.
Where a free copy of Prospectus and Product Highlights Sheet can be obtained: Unit Trust Consultants (UTCs) of Public Mutual or
contact Public Mutual Hotline: 03-6207 5000 for assistance.
41
Lipper Leaders :
Total Return
Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers.
Consistent Return
Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns, adjusted for volatility, relative to peers.
Preservation
Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than
absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity
funds than fixed income funds.
The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return and
Preservation metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the next
20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.
Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information.
Lipper Leaders (overall) - All Ratings as of 30 March 2018 - Ratings for Total Return reflect funds’ historical total return performance relative to peers. Ratings for
Consistent Return reflect funds’ historical risk-adjusted returns relative to peers. Lipper ratings for Preservation are relative, rather than absolute. Lipper Leader ratings
DO NOT take into account the effects of sales charges. Ratings are based on an equal-weighted average of percentile ranks for each measure over overall period.
More information is available at www.lipperweb.com.
Morningstar RatingTM
The Morningstar RatingTM is a quantitative assessment of a fund’s past performance, incorporating fee, return and risk, measured from one to five stars. It uses focused
comparison groups - the Morningstar Categories - to measure the fund’s risk-adjusted performance and it places stronger emphasis on downside variations. The Top
10% of funds in a category will receive five stars, the next 22.5% will receive four stars, the middle 35% will receive three stars, the next 22.5% will receive two stars
and the bottom 10% will receive one star.
© 2018 Morningstar Asia Limited All Rights Reserved. The information contained herein:
• is proprietary to Morningstar;
• may not be copied (save (i) as incidentally necessary in the course of viewing it online, and (ii) in the course of printing off single copies of web pages on which it
appears for the personal non-commercial use of those authorised to view it on-line), adapted or distributed; and
• is not warranted to be accurate, complete or timely.
This Morningstar-sourced information is provided to you by Public Mutual Berhad and is at your own risk. You agree that Morningstar is not responsible for any damages
or losses arising from any use of this information and that the information must not be relied upon by you the user without appropriate verification. Public Mutual
Berhad informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional
financial advisor; (ii) past performances is no guarantee of future results; and (iii) the value and income derived from investments can go down as well as up.
The P ITTIKAL, PIEF, PIOF, PIDF, PAIF, PIADF, PISSF, PCIF, PISTF, PIOGF, PISEF, PIA40GF, PITGF, PITSEQ, PISVF, PIMXAF, PISGIF, PIENTEF, PESMACF, PESMAGF, PIAVGEF, PIGRBF,
PIEMOF and PIOEF are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited (“FTSE”) or by Bursa Malaysia Berhad (“BURSA MALAYSIA”)
or by the London Stock Exchange Group companies (the “LSEG”) and neither FTSE nor BURSA MALAYSIA nor LSEG makes any warranty or representation whatsoever,
expressly or impliedly, either as to the results to be obtained from the use of the FTSE BURSA MALAYSIA EMAS SHARIAH INDEX, FTSE BURSA MALAYSIA SMALL CAP
SHARIAH INDEX, FTSE BURSA MALAYSIA HIJRAH SHARIAH INDEX and the customised index by FTSE based on the constituents with market capitalisation below RM6.0
billion within the FTSE BURSA MALAYSIA EMAS SHARIAH INDEX (“the Indices”), and/or the figure at which the said Indices stand at any particular time on any particular
day or otherwise. The Indices are compiled and calculated by FTSE. However, neither FTSE nor BURSA MALAYSIA nor LSEG shall be liable (whether in negligence or
otherwise) to any person for any error in the Indices and neither FTSE nor BURSA MALAYSIA nor LSEG shall be under any obligation to advise any person of any error
therein.
“FTSE®”, “FT-SE®” and “Footsie®” are trade marks of LSEG and are used by FTSE under licence. “BURSA MALAYSIA” is a trade mark of BURSA MALAYSIA.
The S&P Shariah BMI Asia Ex-Japan Index, S&P Shariah BMI Hong Kong and China ‘H’ Shares Index, S&P Shariah BMI Taiwan Index, the customised benchmark index
for PAIF, the customised benchmark index for PIALEF, the customised benchmark index for PIA40GF, the customised benchmark index for PIENTEF and the customised
benchmark index for PIOEF are products of S&P Dow Jones Indices LLC (“SPDJI”), and have been licensed for use by Public Mutual Berhad. Standard & Poor’s® and S&P®
are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow
Jones”); Standard & Poor’s®, S&P® and Dow Jones® are trademarks of the SPDJI; and these trademarks have been licensed for use by SPDJI and sublicensed for certain
purposes by Public Mutual Berhad. Public Mutual Berhad’s PAIF, PIADF, PCIF, PIALEF, PIA40GF, PIENTEF, PIATAF and PIOEF are not sponsored, endorsed, sold or promoted
by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the advisability of investing in such product(s) nor do
they have any liability for any errors, omissions, or interruptions of the S&P Shariah BMI Asia Ex-Japan Index, S&P Shariah BMI Hong Kong and China ‘H’ Shares Index,
S&P Shariah BMI Taiwan Index, the customised benchmark index for PAIF, the customised benchmark index for PIALEF, the customised benchmark index for PIA40GF,
the customised benchmark index for PIENTEF and the customised benchmark index for PIOEF.
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43
Notes : • The total return is the overall return of the fund over the period.
• The annualised return is the compounded annual rate of return of the fund over the specified period.
• Fund performance should be evaluated against the benchmark index.
• The performances of funds are calculated on NAV-to-NAV basis and sourced from Lipper.
• Commencement date is the last day of the initial offer period.
• The distribution yields of funds are computed by dividing gross distribution for the financial year/period over the Ex-NAV per unit and it is not directly
comparable with fixed deposit rate.
• The asset allocation presented have been verified by the Trustees.
• The stocks invested by the fund are classified according to various criteria which include the country classification assigned by international index
providers and the company’s main business interest in terms of geographical segmentation.
For more information, please contact any of our authorised UTCs, agency offices, branches Public Mutual Berhad (23419-A)
or call Public Mutual Hotline at 03-6207 5000 or visit us at our website at http://www.publicmutual.com.my Block B, Sri Damansara Business Park, Persiaran Industri,
Bandar Sri Damansara, 52200 Kuala Lumpur, Malaysia.
Tel : 03-6279 6800 Fax : 03-6277 9800
44