December 2013 - Takaful Malaysia

Transcription

ITTIZAN
ISTIQRAR
MYEQUITY INDEX FUND
MYGROWTH FUND
MYBLUE CHIPS FUND
MYDIVIDEND FUND
MYBALANCED FUND
This document provides detailed features, investment objectives, strategy and approach of the 7 Shariah-compliant funds and all other
important information that you will need to know regarding these investment funds.
1.
ITTIZAN
2.
ISTIQRAR
3.
MYEQUITY INDEX FUND
4.
MYGROWTH FUND
5.
MYBLUE CHIPS FUND
6.
MYDIVIDEND FUND
7.
MYBALANCED FUND
The choice of funds should be based on, among others, your tolerance to risk. Please seek advice from your Takaful Agent of the
company on your tolerance to risk. For Ittizan and Istiqrar, the funds are no longer being offered for new investment.
The above mentioned funds will be professionally managed by the Investment Division of Syarikat Takaful Malaysia Berhad. The
investment team comprises of a group of professional portfolio managers and investment research analysts who possess an average
of 15 years experience in fund management.
Note: The selection of investible securities is conducted in a systematic manner where the investment process is governed by internal
policies. In addition to that, the systematic investment process is strictly guided by the Company’s Shariah Advisory Body to ensure
that the Shariah principles are not compromised in every investment decision made.
DECEMBER 2013
MARKET REVIEW & OUTLOOK
FBM Emas Shariah Index and FBM KL Composite Index
FBMSI
Market Highlights
13,000
Monthly
% Chg
YTD
% Chg
1,866.96
2.99
10.54
FBM Emas Shariah
13,051.60
2.49
13.29
US Dow Jones
16,576.70
3.15
26.50
Japan Nikkei 225
16,291.31
3.98
56.72
Hong Kong Hang Seng
23,306.40
(2.41)
2.87
Singapore Straits Times
3,167.43
(0.28)
0.01
Jakarta Composite
4,274.18
0.42
(0.98)
3.66
1.78
13.05
98.42
6.15
7.19
2,659.00
0.19
9.06
(1.42)
(7.12)
FBM KLCI
1,900
12,500
1,800
12,000
11,000
1,600
10,500
1,500
10,000
9,500
1,400
FBMKLCI Index
1,700
11,500
FBMSI Index
31/12/13
FBMKLCI
9,000
1,300
8,500
MGS Yield – 5 year
Crude Oil (USD/Barrel)
CPO (RM/MT)
1,200
Dec-09
Mar-10
Jun-10
Sep-10
Dec-10
Mar-11
Jun-11
Sep-11
Dec-11
Mar-12
Jun-12
Sep-12
Dec-12
Mar-13
Jun-13
Sep-13
Dec-13
8,000
Ringgit/USD
3.28
Source: Bloomberg
Source: Bloomberg
Stock Market Review
The major Asia equity markets were mixed in December 2013 after Fed announced to start reducing its bond purchase/stimulus from USD85bil to USD75bil
beginning January 2014. As at end of December 2013, Japan’s Nikkei 225 Index rose the most among the regional bourses rising 4.0% on weakening yen.
However, the Asian bourses were in the red, the China H shares , Philippine Composite Index and the Stock Exchange of Thailand tumbled 5.5%, 5.1% and
5.3%, respectively. FBM KLCI inches higher, the index ended the month of December 2014 at 1,866.96, 3.0% m-o-m increase, bringing the year- to-date return
to 10.5%. Foreign investors continued to withdraw substantially from the local market and sold approximately RM3.1bn worth of equities in the month of
November, sending the net foreign shareholding to below 22% level.Headline inflation rate continued its rising trend to 2.9% Y-on-Y in November, from 2.8%
registered in October due to the cut in fuel subsidy which caused the prices of all related products and services to increase. The inflation rate is expected to trend
up when the electricity rate hikes and more subsidy rationalization coming into effect in 2014. Bank Negara Malaysia (BNM) which has kept the Overnight Policy
Rate (OPR) at 3.00% for more than two years is expected to increase rates by 25 - 50 basis points in 2H14.
Stock Market Outlook
Fed’s decision to begin tapering its crisis-level stimulus by January 2014 was within market expectations and the decision to keep its interest rate at its lowest for
a longer period boosted the sentiment especially for U.S market. The Federal Reserve is likely to reduce its bond purchases in USD 10bil increments over the
next seven meetings before ending the program in December 2014. As such, emerging markets may experience some volatility over the next few months due to
profit-taking activities by foreign investors. However, domestic market is expected to remain positive in January due to “January effect” and a possible CNY rally.
Fund Manager’s Comment
The funds will continue to remain invested at above 80% with active trading activities on selective high quality counters.
Bond Market Review
The Malaysia Government bonds yields rose moderately after the taper announcement made that the US Federal Reserve will start tapering its QE program
beginning in January 2014. The Fed grew comfortable in announcing the taper as the US economy has shown firmer growth outlook. It is viewed that the
economy remains resilient in face of the challenging external environment. On the other note, the Bank Negara recently released the MGS and GII auction
calendar. The Government is planning to bring down its fiscal deficit to 3.5% of GDP in 2014 from 4.0% of GDP in 2013. For the month of December 2013, The
government issued RM3.5 billion in reopening of the 3-year MGS which received a weak demand with bid-cover ratio of 1.57 times and average yield generated
was 3.29%. The Government also conducted RM2 billion on the reopening auction of the 15-year GII which attracted steady demand with bid-cover ratio of 2.87
times and average yield generated was 4.943%. As for the Corporate side, the market witnessed new issuance of RM15.6 billion in December bringing total PDS
issued to RM68.59 billion in 2013 against RM117 billion 2012
Bond Market Outlook
MGS market is expected to be fairly stable in the near term but is expected to continue to be volatile in the medium term driven by the development of external
factors amidst macro headwinds. The Interest rate risk will play a major influence on bond trading as QE questions will still plague sentiment whilst the outlook for
domestic policy direction is still hazy depending on Malaysia’s own pace of growth and inflation. Aside, the first MPC meeting is scheduled to be on 28-29
January 2014 for this month and it is expected that the central bank will maintain the OPR target with 3.00% till after 1H2014
Fund Manager’s Comment
We continue to favour short duration papers in view of the uncertainties in the market and persistence upside pressure on the yield.
Disclaimer :
This fact sheet has been prepared by Syarikat Takaful Malaysia Berhad (“Takaful Malaysia”) for general information and illustration purposes only and shall not be construed as an offer, solicitation or
recommendation to sell or buy any security or financial product. Although the materials used in preparing this presentation are obtained from sources believed to be reliable, Takaful Malaysia makes no
guarantee on the accuracy and completeness of the information. Any analysis and opinion expressed are subject to change without notification. Past performance is no guarantee of future results. Viewers are
advised to contact Takaful Malaysia or its agents for further and better particulars and information pertaining to the products offered by us. Takaful Malaysia hereby disclaims any liability of whatsoever nature
should viewers suffer losses merely relying on the information contained herein.
ITTIZAN
DECEMBER 2013
FUND’S PERFORMANCE VS BENCHMARK
For the period under review, the
FBMSI gained by 13.29% to close at
13,051.60
point.
Based
on
benchmark of 70% of the FBMSI and
the remaining 30% on 1-Month
Maybank GIA rate of 2.75%, the
blended benchmark recorded a
positive return of 10.12%. In tandem
with the benchmark, the performance
of Ittizan recorded a positive return of
16.50%
beating
the
blended
benchmark.
Ittizan vs Benchmark
40.0
Ittizan
Benchmark
35.0
Return %
30.0
25.0
20.0
* Past performance of the Fund is
not an indication of its future
performance, and the performance
is not guaranteed. The Fund returns
are calculated based on the unit price
of the Fund. Actual returns of the
Fund are on a net basis (gross of tax
and net of fees) and strictly based on
the performance of the Fund, and not
the returns earned on the actual
premiums/ contributions paid for the
investment-linked product.
15.0
10.0
5.0
0.0
Note: Cummulative Performance from FY12
FY2010*
31-Dec-10
FY2011*
31-Dec-11
FY2012
31-Dec-12
FY2013
31-Dec-13
13.77
12.74
5.22
2.56
18.07
9.15
16.50
10.12
Ittizan (%)
Benchmark (%)
ASSET ALLOCATION
3.46%
2.20%
TOP 5 INVESTMENT HOLDINGS
0.01%
8.02%
Trading/Services
No.
Sukuk
46.20%
8.76%
1
2
3
Plantation
Industrial
Products
Infrastructure
Project
Construction
4
5
Security Name (Share)
Tenaga Nasional
Berhad
Axiata Group Berhad
Sime Darby Berhad
SapuraKencana
Petroleum Berhad
Kuala Lumpur Kepong
Berhad
%
NAV
7.80
6.77
5.67
5.51
SECTOR ALLOCATION
No.
1
6
4
2
3
5
7
Sector
Trading/Services
Sukuk
Plantation
Industrial Products
Infrastructure Project
Construction
REIT
% NAV
46.20
25.03
8.76
8.02
3.46
2.20
0.01
4.51
25.03%
REIT
Investment Objective
To achieve reasonable returns and capital growth
opportunities through selected investment in
Shariah approved shares listed in Bursa Malaysia
and Shariah compliant Islamic debt securities.
Investment Strategy
Invest in a balanced asset allocation comprising
of Shariah compliant equities and Islamic debt
securities.
Asset Allocation
Equity : 30% - 70%
Sukuk/Cash : 30% - 70%
Fund Manager
Investment Division of Syarikat Takaful Malaysia
Berhad
Performance Benchmark
Combination of
 70% FBM Emas Shariah Index (FBMSI)
 30% one-month return Maybank General
Investment Account Rate (GIA)(source:
FBMSI from Bloomberg, GIA from Maybank)
Fees & Charges


Fund management fee
Max 1.5% of fund’s NAV per annum
Custodian fee
0.03% of fund’s NAV per annum
Risk Profile
Moderate
As the Fund’s investment involved marketable
securities such as stocks and Islamic debt securities
(IDS)/sukuk, the investors should be prepared to
accept some interim price volatility. Investment in IDS
carries some risks such as changes in interest rate and
credit rating of the issuer. An increase in interest rate
or downgrading of credit rating of the issuer would
result to the fall in bond prices; hence impacted the
performance of the Fund.
The key risks for this Fund are market risk, interest
rate risk, credit/default risk, specific security risk,
liquidity risk, operational risk, reclassification of
Shariah status risk. Please refer to Appendix 1 for
further details.
Risk Management
Proper asset allocation, diversification and liquidity
management are among the methods can be adopted
by the Fund Manager to manage the Fund risks. If
there is high possibility that the equity market may fall,
the exposure in equity investment would be reduced to
a lower level and vice versa.
In managing the investment risks for IDS, the Fund
Manager will adopt extensive research and analysis on
the issuer, credit rating, maturity factor, liquidity and
selected yield measures. The Fund Manager will also
constantly monitor the macro economic factors that
may impact the interest rate environment.
NAV PER UNIT
(RM)
At Inception
1.000
As at 31 December 2013
1.892
Highest last 5-years
1.949
Lowest last 5-years
1.003
Target Market
The fund is no longer being offered for new
investment.
Basis & Frequency of Unit Valuation
Please refer to Appendix 2.
Exceptional Circumstances
Disclaimer: This fact sheet has been prepared by Syarikat Takaful Malaysia Berhad (“Takaful Malaysia”) for general information and illustration purposes only and shall not be construed as an offer,
solicitation or recommendation to sell or buy any security or financial product. Although the materials used in preparing this presentation are obtained from sources believed to be reliable, Takaful Malaysia
makes no guarantee on the accuracy and completeness of the information. Any analysis and opinion expressed are subject to change without notification. Past performance is no guarantee of future results.
Viewers are advised to contact Takaful Malaysia or its agents for further and better particulars and information pertaining to the products offered by us. Takaful Malaysia hereby disclaims any liability of
whatsoever nature should viewers suffer losses merely relying on the information contained herein.
ISTIQRAR
DECEMBER 2013
For the period ending December
2013, the FBMSI gained by 13.29%
to close at 13,051.60 point. As the
fund only benchmarked 30% of the
FBMSI and the remaining 70% based
on 1-Month Maybank GIA rate of
2.75%, the blended benchmark
recorded a positive return of 5.91%.
In tandem with the positive movement
of the benchmark, the performance of
Istiqrar also recorded a positive return
of 9.04% outperforming the blended
benchmark
Istiqrar vs Benchmark
20.0
Istiqrar
18.0
Benchmark
16.0
Return %
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
FY2010*
31-Dec-10
5.80
5.47
Istiqrar (%)
Benchmark (%)
FY2011*
31-Dec-11
4.45
2.77
ASSET ALLOCATION
4.22%
No.
1.15%
Trading/Services
1
0.01%
Plantation
2
Industrial Products
22.53%
61.92%
3
4
Construction
5
To achieve relatively stable pattern of investment
returns over medium term trough selected
investment in Shariah approved shares listed in
Bursa Malaysia and Shariah-compliant fixed
income securities.
Investment Strategy
Invest in a balanced asset allocation comprising
mainly in Islamic debt securities with smaller
exposure in Shariah-compliant equity.
Asset Allocation
Equity: up to 35%
Sukuk/Cash: 65% - 100%
Fund Manager
Berhad
Combination of
 70% one-month return Maybank General
Investment Account Rate (GIA)
(Source: FBMSI from Bloomberg, GIA from
Maybank)
Fees & Charges

Rantau Abang Capital
Berhad
National Bank of Abu
Dhabi
Kapar Energy Ventures
Sdn Bhd
Binariang GSM Sdn Bhd
Jimah Energy Ventures
Sdn Bhd
%
NAV
6.15
6.08
5.92
5.78
SECTOR ALLOCATION
No.
7
1
4
2
3
6
5
Sector
Sukuk
Trading/Services
Plantation
Industrial Products
Construction
REIT
% NAV
61.92
22.53
4.60
4.22
1.77
1.15
0.01
4.58
REIT

FY2013
31-Dec-13
9.04
5.91
Sukuk
1.77%
4.60%
FY2012
31-Dec-12
7.88
5.56
Fund management fee
Max 1.5% of fund’s NAV per annum
Custodian fee
Risk Profile
Low
(IDS)/sukuk, the investors should be prepared to
accept some interim price volatility. Investment in IDS
carries some risks such as changes in interest rate and
credit rating of the issuer. An increase in interest rate
or downgrading of credit rating of the issuer would
result to the fall in bond prices; hence the impacted
performance of the Fund.
further details.
NAV PER UNIT
(RM)
At Inception
1.000
1.408
1.408
Lowest last 5-years
1.080
Target Market
The fund is no longer being offered for new
investment.
Risk Management
management are among the methods can be adopted
by the Fund Manager to manage the Fund risks. If
there is high possibility that the equity market may fall,
the exposure in equity investment would be reduced to
a lower level and vice versa.
Manager will adopt extensive research and analysis on
the issuer, credit rating, maturity factor, liquidity and
selected yield measures. The Fund Manager will also
constantly monitor the macro economic factors that
may impact the interest rate environment.
MYEQUITY INDEX FUND
DECEMBER 2013
MyEquity Index vs Benchmark
45.0
MyEquity Index
40.0
Benchmark
For the period under review, FBMSI
gained by 13.29% to close at
13,051.60 points. The performance of
MyEquity Index Fund recorded a
positive return of 19.46%. In line with
the fund’s strategy to track its
benchmark closely, its tracking error
has
consistently
within
the
parameters set by the fund. For the
period, the fund’s tracking error stood
at 0.98
1.50
Tracking Error
Return %
35.0
30.0
1.00
25.0
20.0
15.0
0.50
10.0
5.0
0.0
0.00
MyEquity Index Fund (%)
Benchmark (%)
Tracking Error
FY2010*
31-Dec-10
14.15
18.20
0.94
FY2011*
31-Dec-11
4.46
2.41
1.62
ASSET ALLOCATION
3.65%
0.05%
FY2013
31-Dec-13
19.46
13.29
0.88
Trading/Services
4.30%
Plantation
10.94%
No.
1
2
3
Industrial Products
4
11.99%
FY2012
31-Dec-12
16.66
11.85
0.75
5
Tenaga Nasional Berhad
Axiata Group Berhad
Sime Darby Berhad
SapuraKencana
Petroleum Berhad
Kuala Lumpur Kepong
Berhad
%
NAV
8.94
8.68
8.34
6.91
SECTOR ALLOCATION
No.
1
4
2
3
6
5
Sector
Trading/Services
Plantation
Industrial Products
Construction
Warrants
% NAV
61.07
11.99
10.94
4.30
3.65
0.05
6.06
Construction
61.07%
Warrants
To achieve returns that tracks the performance of FBM
Emas Shariah Index.
Investment Strategy
 Invest mainly in the top of the Index component stocks;
closely tracking the movement of the Benchmark in the
medium to long term;
 Constant rebalancing of the component stocks to
closely track the benchmark performance.
Asset Allocation
Equity: 90% - 95%
Money Market: 5% - 10%
Fund Manager
Investment Division of Syarikat Takaful Malaysia Berhad
FBM Emas Shariah Index (FBMSI)
(source : Bloomberg)
Fees & Charges


Fund management fee
1.0% - 1.5% of fund’s NAV per annum
Custodian fee
Risk Profile
Moderate
As the Fund’s stock investment consist of the
top forty of the index component stocks which
including blue chip and growth stocks, the
investors should be prepared to accept some
interim price volatility with possibility of a
severe downturn in the equity markets.
The key risks for this Fund are market risk,
specific security risk, liquidity risk, operational
risk, reclassification of Shariah status risk.
Please refer to Appendix 1 for further details.
Risk Management
Proper asset allocation, diversification and
liquidity management are among the methods
can be adopted by the Fund Manager to
manage the Fund risks such as market risk,
specific security risk and liquidity risk. If there
is high possibility that the equity market may
fall, the exposure in equity investment would
be reduced to a lower level and vice versa.
The Fund Manager will also adopt a prudent
investment selection process by investing in
selected stock universe after undergoing
some screening process.
NAV PER UNIT
(RM)
At Inception
1.000
1.730
1.730
Lowest last 5-years
0.985
Target Market
Customers who prefer moderate risk
investment profile with a moderate expected
return.
Tracking Error (TE)
TE is a measure of the deviation from the
benchmark. It measures of how closely a
portfolio follows the index to which it is
benchmark. The closer its track the
benchmark, the lesser is the amount of TE.
MYGROWTH FUND
DECEMBER 2013
fund’s benchmark, FBMSI gained by
13.29% to close at 13,051.60 point.
MyGrowth Fund also recorded a
positive return of 19.98% beating the
benchmark.
MyGrowth vs Benchmark
35.0
MyGrowth
Benchmark
30.0
Return(%)
25.0
20.0
15.0
10.0
5.0
0.0
MyGrowth Fund (%)
Benchmark (%)
FY2010*
31-Dec-10
7.71
18.20
FY2011*
31-Dec-11
3.23
2.41
ASSET ALLOCATION
4.58%
1.93%
4.76%
FY2013
31-Dec-13
19.98
13.29
No.
1
Trading/Services
Industrial Products
10.45%
FY2012
31-Dec-12
9.26
11.85
2
3
4
Plantation
5
Axiata Group Berhad
SapuraKencana Petroleum
Berhad
Petronas Gas Berhad
Kuala Lumpur Kepong Berhad
Perisai Petroleum Teknologi
Berhad
SECTOR ALLOCATION
%
NAV
4.89
4.88
4.85
4.82
No.
1
2
4
3
5
6
Sector
Trading/Services
Industrial Products
Plantation
Construction
Consumer
% NAV
52.08
13.76
10.45
4.76
4.58
1.93
4.79
Construction
13.76%
Consumer
52.08%
To achieve capital growth opportunities and dividend
income through selective investments in Shariah
approved shares listed in Bursa Malaysia.
Investment Strategy
 Invest primarily in selected Shariah compliant
equities that comprise of a diversified portfolio of
index-linked companies, blue-chip stocks and
companies with growth prospects and attractive
dividend yields that are listed on Bursa Malaysia;
 Active portfolio management - constant review on
asset allocation and stocks holding. Stock/portfolio
turnover would be practically high in search for
opportunities in capital gain and dividend yield
stocks.
Asset Allocation
Equity: 50% - 95%
Cash/Sukuk: 5% - 50%
Fund Manager
Berhad
(Source: Bloomberg)
Fees & Charges


Fund management fee
Custodian fee
Risk Profile
High
Since the fund investment also consist of growth
stocks which are normally more volatile in prices as
compared to blue chips and high dividend yield
stocks, the investors should be prepared to accept
some interim price volatility, of which sometimes can
be significant to achieve that higher return.
The key risks for this Fund are market risk, specific
security risk, interest rate risk, credit/default risk,
further details.
Risk Management
management are among the methods can be
adopted by the Fund Manager to manage the Fund
risks. If there is high possibility that the equity market
may fall, the exposure in equity investment would be
reduced to a lower level and vice versa. The Fund
Manager will also adopt a prudent investment
selection process by investing in selected stock
universe after undergoing some screening process.
Manager will adopt extensive research and analysis
on the issuer, credit rating, maturity factor, liquidity
and selected yield measures. The Fund Manager will
also constantly monitor the macro economic factors
that may impact the interest rate environment.
NAV PER UNIT
(RM)
At Inception
1.000
1.387
1.387
Lowest last 5-years
0.972
Target Market
Customers who prefer a high risk
investment profile with a high expected
return.
Basis &
Valuation
Frequency
of
Unit
MYBLUE CHIPS FUND
DECEMBER 2013
gained by 13.29% to close at
13,051.60 point. In tandem with the
positive movement of the benchmark,
the performance of MyBlue Chips
Fund also recorded a positive return
of 20.17% beating the benchmark.
MyBlueChips vs Benchmark
40.0
MyBlue Chips
Benchmark
35.0
30.0
Return(%)
25.0
20.0
15.0
10.0
5.0
0.0
FY2010*
31-Dec-10
7.01
18.20
MuBlue Chips Fund (%)
Benchmark (%)
FY2011*
31-Dec-11
2.23
2.41
ASSET ALLOCATION
4.35%
2.94%
10.43%
FY2013
31-Dec-13
20.17
13.29
Trading/Services
Plantation
Industrial Products
Infrastructure
Project
11.60%
FY2012
31-Dec-12
14.32
11.85
No.
1
2
3
4
5
Axiata Group Berhad
Sime Darby Berhad
Sapura Kencana Petroleum
Berhad
Kuala Lumpur Kepong
Berhad
SECTOR ALLOCATION
%
NAV
9.10
8.57
7.99
7.06
No.
1
4
2
3
5
Sector
Trading/Services
Plantation
Industrial Products
Construction
% NAV
59.08
11.60
10.43
4.35
2.94
6.11
Construction
59.08%
To achieve consistent capital growth in the long run
through investments in Shariah Compliant Blue Chip
Shares.
Investment Strategy
 Invest primarily in Shariah compliant equities with higher
market capitalisation to achieve long term capital
growth;
 Active portfolio management - constant review on asset
allocation and stock holding in search of stocks that
meet the objective of the Fund.
Asset Allocation
Equity: 40% - 90%
Fund Manager
(Source: Bloomberg)
Fees & Charges

Fund management fee
 Custodian fee
Risk Profile
Moderate / High
As the Fund’s stock investment focus mainly in
blue chip stocks whose prices normally do not
fluctuate as much as growth stocks, the
investors should be willing to accept some
moderate growth in principal.
specific security risk, liquidity risk, operational
risk, reclassification of Shariah status risk.
Please refer to Appendix 1 for further details.
Risk Management
manage the Fund risks. If there is high possibility
that the equity market may fall, the exposure in
equity investment would be reduced to a lower
level and vice versa. The Fund Manager will
also adopt a prudent investment selection
process by investing in selected stock universe
after undergoing some screening process.
NAV PER UNIT
(RM)
At Inception
1.000
1.410
1.410
Lowest last 5-years
0.975
Target Market
investment profile with a high expected
return.
Basis &
Valuation
Frequency
of
Unit
MYDIVIDEND FUND
DECEMBER 2013
fund’s benchmark, FBMSI gained by
13.29% to close at 13,051.60 point.
MyDividend Fund also recorded a
positive return of 18.21% beating the
benchmark.
MyDividend vs Benchmark
45.0
MyDividend
Benchmark
40.0
Return (%)
35.0
30.0
25.0
20.0
15.0
10.0
5.0
0.0
FY2010*
31-Dec-10
5.74
18.20
MyDividend Fund (%)
Benchmark (%)
FY2011*
31-Dec-11
6.39
2.41
ASSET ALLOCATION
4.36%
3.01%
0.47%
Trading/Services
No.
1
2
3
Industrial Products
4
5
11.71%
%
NAV
9.09
8.50
7.40
7.01
No.
1
4
2
3
5
6
Sector
Trading/Services
Plantation
Industrial Products
Construction
Technology
% NAV
58.80
11.71
10.21
4.36
3.01
0.47
6.14
Technology
 To achieve dividend income in the long term trough
selective investments in high dividend yield shares that
provide a minimum annual gross dividend of 4%.
 To achieve capital growth through selective investments in
Blue Chips Shares that could potentially provide capital
growth in the long run.
Investment Strategy
 Invest primarily in dividend yield stocks that provide a
minimum annual gross dividend of 4% as well as blue-chip
stocks that could potentially grow in the long run;
 At all times, exposure in stocks that yield a minimum of 4%
annual gross dividend shall be at least 50% of the equity
exposure;
Constant review on asset allocation and stock holding in
search of stocks that comply with the objective of the Fund
Asset Allocation
Equity: 40% - 90% (at least 50% in dividend yield shares)
Fund Manager
(Source: Bloomberg)
Fees & Charges

Axiata Group Berhad
Sime Darby Berhad
Sapura Kencana Petroleum
Berhad
Kuala Lumpur Kepong
Berhad
SECTOR ALLOCATION
Construction
58.80%

FY2013
31-Dec-13
18.21
13.29
Plantation
10.21%
FY2012
31-Dec-12
17.95
11.85
Fund management fee
Custodian fee
Risk Profile
Moderate
securities such as stocks and Islamic debt
securities (IDS)/sukuk, the investors should be
prepared to accept some interim price volatility.
Investment in IDS carries some risks such as
changes in interest rate and credit rating of the
issuer. An increase in interest rate or
downgrading of credit rating of the issuer would
result to the fall in bond prices; hence impacted
the performance of the Fund.
interest rate risk, credit/default risk, specific
security risk, liquidity risk, operational risk,
reclassification of Shariah status risk. Please
refer to Appendix 1 for further details.
Risk Management
manage the Fund risks. If there is high
possibility that the equity market may fall, the
exposure in equity investment would be
reduced to a lower level and vice versa.
In managing the investment risks for IDS, the
Fund Manager will adopt extensive research
and analysis on the issuer, credit rating,
maturity factor, liquidity and selected yield
measures. The Fund Manager will also
constantly monitor the macro economic factors
NAV PER UNIT
(RM)
At Inception
1.000
1.490
1.490
Lowest last 5-years
1.000
Target Market
investment profile with a moderate
expected return.
Basis &
Valuation
Frequency
of
Unit
MYBALANCED FUND
DECEMBER 2013
gained by 13.29%. Being a balanced
fund, the fund is being benchmarked
with 40% of the FBMSI and the
remaining 60% based on 12-Months
Maybank GIA rate of 3.19%, with the
blended benchmark recorded a
positive return of 7.23%. In tandem
with the positive movement of FBMSI,
the performance of MyBalanced Fund
recorded a positive return of10.23%
beating the benchmark.
MyBalanced vs Benchmark
20.0
MyBalanced
18.0
Benchmark
16.0
Return(%)
14.0
12.0
10.0
8.0
6.0
4.0
2.0
0.0
FY2011*
31-Dec-11
2.56
2.81
MyBalanced Fund (%)
Benchmark (%)
ASSET ALLOCATION
4.74%
1.80%
1.49%
26.07%
46.34%
Sukuk
2
Industrial Products
3
Infrastructure
Project
4
5
TNB Northern Bhd
Jimah Energy Ventures
Sdn Bhd
Ranhill Powertron II Sdn
Bhd
National Bank of Abu
Dhabi
Alam Maritim Resources
SECTOR ALLOCATION
%
NAV
7.59
5.84
5.35
No.
6
1
4
2
3
5
Sector
Sukuk
Trading/Services
Plantation
Industrial Products
Construction
% NAV
46.34
26.07
4.78
4.74
1.80
1.49
5.15
5.14
Construction
 To achieve moderate streams of income and
consistent capital growth over the medium-to-long
term period by investing in a diversified portfolio of
investments;
 To construct a diversified portfolio containing a
balanced mixture of equities and fixed income
securities.
Investment Strategy
Invest in a balanced asset allocation comprising of
Shariah-compliant equity, debt securities and money
market.
Asset Allocation
Equity: 10% - 40%
Sukuk/cash : 10% - 60%
Fund Manager
Berhad
Combination of
 60% 12-month return Maybank General
Investment Account Rate (GIA) (source: FBMSI
from Bloomberg, GIA from Maybank)
Fees & Charges

No.
1
Plantation

FY2013
31-Dec-13
10.23
7.23
Trading/Services
4.78%
FY2012
31-Dec-12
7.88
6.66
Fund management fee :
Custodian fee :
Risk Profile
Low / Moderate
(IDS), the investors should be prepared to accept
some interim price volatility. Investment in IDS
carries some risks such as changes in interest rate
and credit rating of the issuer. An increase in interest
rate or downgrading of credit rating of the issuer
would result to the fall in bond prices; hence
impacted the performance of the Fund.
further details.
Risk Management
management are among the methods can be
adopted by the Fund Manager to manage the Fund
risks. If there is high possibility that the equity market
may fall, the exposure in equity investment would be
reduced to a lower level and vice versa.
NAV PER UNIT
(RM)
At Inception
1.000
1.181
1.810
Lowest last 5-years
0.996
Target Market
Customers who prefer a moderate risk
investment profile with a moderate
expected return.
Manager will adopt extensive research and analysis
on the issuer, credit rating, maturity factor, liquidity
and selected yield measures. The Fund Manager will
also constantly monitor the macro economic factors
Appendix 1
DECEMBER 2013
Definition of Risks and Risk Management Techniques
1.
Market risk


2.
Liquidity risk


3.



Refers to the risk of individual security including stock or Islamic debt security invested in the portfolio. A major price change of any particular security,
which is a component of the fund’s portfolio, would affect the NAV and daily prices of the Fund.
The mechanism employed to minimize the risk is through the process of portfolio diversification and prudent investment selection process by the
Fund Manager.
Operational risk


7.
Refers to potential decrease in credit worthiness of the issuers for Islamic debt investments in the event that the issuer is faced with unexpected
financial difficulties. In the worst case scenario, the issuer may default in the payment of principal and profits for the Islamic debt securities issued,
decreasing the prices and value of that particular Islamic debt securities and thus affecting the market value of the fund.
The Fund Manager manages the risk by setting internal counterparty limits and undertaking internal credit evaluation to minimize such risk.
Specific security risk

6.
Refers to potential impact affecting the market values of investment into Islamic debt securities arising from adverse movement in interest rates.
When interest rate rise, the value of Islamic debt securities fall and vice versa, thus affecting the market value of the fund. Although the fund does not
invest in conventional bonds, any changes in interest rate trend could also affect the price and yield of Islamic debt securities as conventional interest
rate is generally used as indicative rate to determine the profit rate for the Islamic debt securities.
In managing the risks, the Fund Manager will adopt an active investment management by constantly review the fund’s strategy and portfolio.
Credit/Default risk

5.
Refers to potential impact of not being able to convert Shariah compliant investment into cash at or near its fair value, which primarily depends on the
volume traded for that particular Shariah compliant investments in the market.
The investment policy is to always maintain a prudent level of liquid assets so as to reduce liquidity risk.
Interest rate risk

4.
Refers to potential impact arising from adverse price movements that affects the market values of the investments due to changes in economic
cycles, financial market conditions, currency and interest rate. The risk may also arise due to changes in any political and regulatory forms.
Market risk is managed through portfolio diversification and asset allocation whereby the securities exposure is monitored / reduced in the event of
anticipated market weaknesses.
Refers to the risk that the Company fails to fulfill its obligation or perform other required actions because of inadequate policies and procedures,
human resources, information systems or internal control.
To minimize the risks, the Fund Manager will work with the Fund‘s Trustee, internal compliance unit and other divisions to ensure compliance with all
relevant legislations and policies and procedures are put in place at all the time.
Reclassification of Shariah status risk


Refers to potential revision on the status of Shariah compliant securities in the fund to become non-Shariah compliant in the periodic review by the
SAC.
The Fund Manager will take the necessary steps to dispose such securities in accordance with the advice from the SAC and the Shariah Advisor.
The Fund Manager will manage the investment-linked funds according to the fund strategy and target asset allocation policy. Nevertheless, the Fund Manager
may take temporary steps which may not be consistent with the stated strategy and asset allocation policy in attempting to respond to adverse market,
economic conditions.
Appendix 2
DECEMBER 2013
The Unit Price on any Valuation Date of the Investment Linked Fund shall be obtained by dividing the NAV on the business day before the Valuation Date by
the number of Units in issue of the Investment Linked Fund.
In order to determine the Unit Price of each Unit on a Valuation Date, the Net Asset Value (NAV) of the Fund shall be calculated as follows:
(a)
the amount for which in the opinion of the Company after taking such independent advice as they consider appropriate, the investments of the
Investment Linked Fund could be transacted in the open market on the Valuation Date by reference where applicable to the market dealing prices
quoted on a recognized stock exchange selected by the Company with the addition of expenses which would be incurred, plus
(b)
in respect of the interests in the nature of land and other securities or properties of whatsoever nature held in the Investment Linked Fund the amount
which in the opinion of the Company after taking such independent advice as they consider appropriate is the value of such interests on the Valuation
Date with the addition of the expenses which would be incurred if such interests were transacted on the day, plus
(c)
the amount of cash held uninvested in the Investment Linked Fund on the Valuation Date, less
(d)
the amount (if any) which the Company shall determine on the Valuation Date shall be treated as liabilities of the Investment Linked Fund, less
(e)
such amount as the Company shall consider to be just and equitable in respect of costs of valuation of any interests in the nature of land which are
comprised in the Investment Linked Fund and other expenses and outgoings properly attributable to such interest, less
(f)
the applicable Fund Management Charge
There shall be deductions from the Investment Linked Fund of such amounts as the Company in its absolute discretion considers appropriate, as due
allowances for any levy, tax, duties or any other charges of whatsoever nature arising in respect of which the Fund may become liable.
To ensure fair treatment to all certificate owners of the fund, the Company may impute the transaction costs of acquiring or disposing of assets of the fund, if the
costs are significant. To recoup the cost of acquiring and disposing of assets, the company may make a dilution or transaction cost adjustment to the NAV per
unit to recover any amount which the fund had already paid or reasonably expects to pay for the creation or cancellation of units.
The Investment-linked Funds are valued on each business day. However, the Company may alter the frequency and date on which the Unit Price shall be
calculated by giving three (3) calendar months prior written notice to the Certificate Owner.
The Company reserves the right to take the following actions that may become necessary due to change of circumstances, as a means to protect the interest of
the certificate owner.

Subject to at least three (3) months written notice, the Company may:
(a) close any of the Unit Fund or cease to allow the allocation of additional Contribution or to transfer the assets to a new fund which has similar
investment objectives;
(b) change the name of the Unit Funds;
(c) split or combine existing units of Unit Funds;
(d) make any changes that may be required due to regulatory requirement and/or the legislation.

The Company may also choose to, without prior notice, suspend unit pricing and Certificate transactions if any of the exchanges in which the Unit Fund is
invested is temporarily suspended for trading;

In circumstances considered by the Company in its absolute discretion, to be prejudicial to the interests of participants, the Company reserves the right to
defer Partial Withdrawal and Surrender payment for a period not exceeding six (6) months from the date of redemption.
Issued by Syarikat Takaful Malaysia Berhad (131646-K)
Syarikat Takaful Malaysia Berhad was incorporated on 29 November 1984 and commenced operations in July 1985. It has an authorised capital of RM500
million and a paid up capital of RM162 million. The Company was listed on the Main Board of the Malaysian Stock Exchange on 30 July 1996. In accordance
with the Takaful Act 1984, Takaful Malaysia provides two types of Takaful business namely Family Takaful Business and General Takaful Business. Takaful
Malaysia has 30 outlets nationwide with total assets of RM6.7 billion at group level.
Tel : 603 - 2268 1984, 1300-8-TAKAFUL(825 2385)
Fax : 603 - 2274 0237
Email : [email protected]
Website : takaful-malaysia.com.my

December 2013 - Takaful Malaysia

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