the prospectus. - Fundsupermart.com

Transcription

LIBRA INVEST BERHAD
MASTER PROSPECTUS
This Master Prospectus is dated 18 March 2016 and expires on 17 March 2017
This Master Prospectus supersedes the Prospectus dated 16 February 2016 in respect
of the Libra Shariah Liquidity Fund Series 2.
Fund Name
Date of Constitution
Libra IncomeEXTRA Fund
25 August 1999
Libra EquityEXTRA Fund
25 August 1999
Libra BondEXTRA Fund
23 September 2002
Libra MoneyEXTRA Fund
23 September 2002
Libra VersatileEXTRA Fund
23 September 2002
Libra DividendEXTRA Fund
3 March 2005
Libra TacticalEXTRA Fund
3 March 2005
Libra Consumer and Leisure Asia Fund
9 May 2007
Libra Liquidity Fund
23 December 2008
Libra Resource Equity Fund
21 May 2010
Libra SyariahEXTRA Fund
7 February 1996
Libra Amanah Saham Wanita
30 April 1998
Libra ASnitaBOND Fund
3 March 2005
Libra Shariah Liquidity Fund Series 2
8 September 2014
MANAGEMENT COMPANY
TRUSTEE(S)
Libra Invest Berhad (361207-D)
Maybank Trustees Berhad (5004-P)
CIMB Commerce Trustee Berhad (313031-A)
CIMB Islamic Trustee Berhad (167913-M)
(A member of the ECM Libra Group)
INVESTORS ARE ADVISED TO READ AND UNDERSTAND THE CONTENTS OF THIS MASTER PROSPECTUS.
IF IN DOUBT, PLEASE CONSULT A PROFESSIONAL ADVISER.
FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY PROSPECTIVE
INVESTORS, SEE “RISK FACTORS” COMMENCING ON PAGE 38.
Libra Invest Berhad
Master Prospectus
i
PREFACE
Dear Investor,
This Master Prospectus contains information in relation to the Funds stated below to assist prospective
investors to make an informed assessment of the Funds for decision making purposes.
The objective of the respective Funds is as follows:
(a)
aims to provide investors with income and capital appreciation over a medium to long term
investment horizon by investing in a balanced portfolio of fixed income instruments and equities.
(b)
seeks to maximise capital returns over a medium to long term period by investing in an activelymanaged, diversified portfolio of equity and equity-related securities.
(c)
aims to provide investors with aggressive long term capital growth through investment in high
yielding fixed income securities with a relatively high level of market and financial risks.
(d)
aims to maintain a high degree of liquidity while providing current income through a direct
investment portfolio investing in short term, high quality Ringgit-denominated money market
instruments.
(e)
aims to provide investors medium to long term capital appreciation through its investments in
specified asset classes by adopting a relatively balanced approach towards equities and fixed
income exposure. The Fund aims to achieve capital growth with lower short term volatility than is
normally associated with a pure equity fund.
(f)
seeks to achieve relatively stable returns via income and capital appreciation over the medium to
long term by investing principally in high dividend yield stocks.
(g)
aims to provide investors medium to long term capital appreciation by investing principally in liquid
equities with large market capitalisation (big caps), and fixed income instruments with flexible asset
allocation.
(h)
Libra Consumer Leisure and Asia Fund
seeks to provide capital appreciation over the medium to long term by investing in a diversified
portfolio comprising stocks of companies in Asia which are considered to have strong growth
prospects and are able to benefit from the rising wealth effect of the region‟s middle class
population.
(i)
seeks to preserve capital and maintain a high degree of liquidity while providing steady income with
minimal risk by investing primarily in short term deposits.
(j)
seeks to achieve capital growth over the medium to long term period by investing primarily in
equities and equity-related securities traded globally. The Fund may also invest in fixed income
securities, structured products and money market instruments.
(k)
aims to provide investors with medium to long term capital appreciation through investments in
specified asset classes by adopting a relatively balanced approach towards equities and fixed
income exposure based on the Shariah principles. The Fund aims to achieve capital growth with
lower short term volatility than is normally associated with a pure equity fund.
ii
Libra Invest Berhad
Master Prospectus
(l)
seeks to offer relatively good and safe capital growth over the long term period by investing
principally in an actively-managed, diversified portfolio of Shariah-compliant equities and equityrelated securities.
(m)
aims to provide capital preservation with regular income over the short to medium term period by
investing in Islamic money market instruments and sukuk.
(n)
seeks to preserve capital while providing steady income by investing in short term Islamic deposits.
You may refer to Key Data section for information relating to the main features of the Funds on pages 13-23,
the specific risks of investing in the Funds on pages 38-41, the profile of investors suitable to invest in the
Funds on pages 24-25 and the fees and charges payable in respect of the Fund on pages 27-31. For
information on where Units can be bought and sold, investors may refer to the Company Directory section
which can be found on page 157.
Yours sincerely,
LEE WEI CHUNG
Chief Executive Officer / Executive Director
Libra Invest Berhad
Master Prospectus
iii
RESPONSIBILITY STATEMENTS
This Master Prospectus has been reviewed and approved by the directors of Libra Invest Berhad and they
collectively and individually accept full responsibility for the accuracy of the information. Having made all
reasonable enquiries, they confirm to the best of their knowledge and belief, there are no false or misleading
statements, or omission of other facts which would make any statement in this Master Prospectus false or
misleading.
STATEMENTS OF DISCLAIMER
The Securities Commission Malaysia has authorised the Funds and a copy of this Master Prospectus has been
registered with the Securities Commission Malaysia.
The authorisation of the Funds, and registration of this Master Prospectus, should not be taken to indicate that the
Securities Commission Malaysia recommends the said Funds or assumes responsibility for the correctness of any
statement made, opinion expressed or report contained in this Master Prospectus.
The Securities Commission Malaysia is not liable for any non-disclosure on the part of Libra Invest Berhad, the
management company responsible for the said Funds and takes no responsibility for the contents in this Master
Prospectus. The Securities Commission Malaysia makes no representation on the accuracy or completeness of
this Master Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance upon, the
whole or any part of its contents.
INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE
INVESTMENT. IF INVESTORS ARE UNABLE TO MAKE THEIR OWN EVALUATION. THEY ARE ADVISED TO
CONSULT THEIR PROFESSIONAL ADVISERS.
ADDITIONAL STATEMENTS
No units of the Funds will be issued or sold based on this Master Prospectus later than one (1) year after the date
of this Master Prospectus.
Investors should note that they may seek recourse under the Capital Markets and Services Act 2007 for breaches
of securities laws and regulations including any statement in this Master Prospectus that is false, misleading, or
from which there is a material omission; or for any misleading or deceptive act in relation to this Master
Prospectus or the conduct of any other person in relation to the Funds.
The word “EXTRA” is referring to the additional services and product features that in the opinion of the
Management Company would benefit the investors at large. The application of the word “EXTRA” to the Funds‟
names does not guarantee any return on investment.
The word “Dividend” in “DividendEXTRA” is referring to the dividend that the Fund earns from the investment
made by the fund manager. Investors are reminded that the dividend earned by the Fund is not a distribution
declared by the Fund to its investors.
Libra ASnitaBOND Fund, Libra Amanah Saham Wanita, Libra SyariahEXTRA Fund and Libra Shariah Liquidity
Fund Series 2 have been certified as being Shariah-compliant by the Shariah adviser appointed for the Libra
ASnitaBOND Fund, Libra Amanah Saham Wanita, Libra SyariahEXTRA Fund and Libra Shariah Liquidity Fund
Series 2.
Libra Invest Berhad
Master Prospectus
iv
Contents
1
Glossary
6
Corporate Directory
10
Investment Strategy
i. Standalone Asnitabond

Special Features and Advantage of Investing Through
13
oneINVEST / oneINVEST Islamic
Key Data
i. Fund Information

Fund Name, Fund Category, Fund Type, Inception date, Fund Description, Fund Objective,
Investment Strategy, Asset Allocation, Performance Benchmark, Principal Risks, Potential
Price Fluctuation, Suggested Investment Horizon for Investors, Financial Year End,
Investor‟s Profile, Distribution Policy and Units in Circulation.
ii.
Fees, Charges and Expenses

Charges Directly Incurred
- Sales Charge
- EPF Member‟s Investment Scheme
- Non-EPF Member‟s Investment Scheme
- Repurchase Charge
- Dilution Fee/Transaction Cost & Transfer Fee
- Other Charges

Fees Indirectly Incurred
- Annual Management Fee
- Annual Trustee Fee
- List of expenses directly related to the Fund
- Other Fees payable indirectly by an Investor
- Custodian Fee, Rebate and Soft Commission
iii. Transaction Information
iv. Other Information
38
Risk Factors

General risks

Specific Risks in Equity Funds

Specific Risk in Fixed Income/Sukuk Funds

Specific Risks in Money Market Funds
42
Detailed Information Of The Funds

Investment Objective, Investment Strategy, Asset Allocation, Risk Management Strategies,
Temporary Defensive Positions, Performance Benchmark

Permitted Investments

Investments Restrictions

Investment Abroad
77
Additional Information In Relation To The Funds

Policy on Application of Investment Restrictions of the Funds

Valuation of Assets

Quoted securities and suspended securities

Unquoted fixed income securities/sukuk

Quoted securities dividend

Derivatives

Collective investment schemes

Deposits

Structured products

Money market instruments
 Valuation Point for the Funds
Libra Invest Berhad
Master Prospectus
79
Shariah Investment Guidelines

Investment in Malaysia

Cleansing Process for the Fund

Zakat (tithe) for the Fund
82
Funds Performance

Average Total Returns

Annual Total Returns

Distribution Record

Portfolio Turnover Ratio (PTR)

Asset Allocation
104
Historical Financial Highlights Of The Funds
i.
Audited Financial Statement of the Funds

Statement of Comprehensive Income

Statement of Financial Position

Management Expense Ratio (MER)
114
Fees, Charges And Expenses Of The Funds
i.
Charges Directly Incured

Sales Charge

Repurchase Charge

Dilution Fee/Transaction Cost

Transfer Fee

Other Charges

Switching Fee
118
ii.

Annual Management Fee

Annual Trustee Fee
iii.
Fees or Charges of the Advisor to the Management Company
Transaction Information
i. Computation of NAV

Pricing Policy

Single Pricing

Forward Pricing

Incorrect Pricing Policy
ii.
How is the Selling Price Computed
iii. How is the Liquidation Amount Computed
iv. Transaction Details

Who can invest

How can I Purchase or Liquidate an Investment

Where can I obtain an Application Form

How do I pay for an Investment

How to Liquidate My Investment

Minimum Transaction Details for each Fund

Transfer Facility

Switching Facility

Minimum Switching

EPF Members‟ Investment Scheme

Cooling-off Policy

What Are the Important Points to Note before Investment

Anti-Money Laundering Policy

Distribution Policy and Reinvestment Policy

Liquidation Reinvestment Policy

Unclaimed Moneys Policy
v
Libra Invest Berhad
Master Prospectus
vi
124
The Management Company: Libra Invest Berhad

Corporate Profile of the Management Company

Staff Strength

Summary of Financial Position

Our Duties and Responsibilities

Material Litigation and Arbitration

Roles and Functions of the Director

Roles and Functions of the Investment Committee

The Board of Directors and Investment Committee Members

Management Staff

Duties and Responsibilities of the Fund Managers

Profile of Key Investment Personnel
131
The Shariah Adviser

Corporate Profile of Shariah Adviser

General Information of IBFIM

Experience in Advisory and Services

Roles and Responsibilities of the Shariah Adviser

Profile of the Shariah Team
133
The Trustee

Maybank Trustees Berhad (“MTB”)

CIMB Islamic Trustee Berhad

CIMB Commerce Trustee Berhad
143
Salient Terms Of The Deed
i.
Recognition of Unit Holders

Rights

Liabilities

Suspension and Deferrals

Maximum Fees and Charges Permitted by the Deed
ii.
Procedures to Increase the Direct Charges and Indirect Fees

Sales Charge

Repurchase Charge


Annual Trustee Fee
iii.
Procedures to Increase the Maximum Rate of Direct Charges and Indirect Fees in the Deed

Permitted Expenses Payable by the Funds

Removal, Replacement and Retirement of the Management Company and Trustee

Termination of the Fund

Provisions governing Unit Holders‟ Meetings

Meetings directed by Unit Holders

Unit Holders meeting convened by the Management Company

Unit Holders meeting convened by the Trustee
149
Approvals And Conditions
i. Variations and Exemptions from SC Guidelines

EquityEXTRA
150
Related – Party Transactions And Conflict Of Interest
i. Related-Party Transactions
ii. Policy on Conflict of Interest
iii. Maybank Trustees Berhad (“MTB”)
iv. CIMB Islamic Trustee Berhad
v. CIMB Commerce Trustee Berhad
Libra Invest Berhad
Master Prospectus
152
Taxation Adviser’s Letter On Taxation Of The Funds And Unit Holders
i.
Taxation of the Funds offered under the Master Prospectus and Unit holders
ii.
Taxation of the Funds
 Domestic Investments
General Taxation
Dividends and Other Exempt Income
 Foreign Investments
 Tax Deductible Expenses
 Real Property Gains Tax
iii.
Taxation of Unit Holders
155
Additional Information
156
Consents
Jurisdiction
Documents Available For Inspection
Directors’ Responsibility Statement
157
Company Directory
vii
Libra Invest Berhad
Master Prospectus
1. GLOSSARY
In this Master Prospectus, the following abbreviations or words shall have the following meanings, unless otherwise
stated:
Active Account
An account with a balance of 5,000 units or more is deemed active.
Baitul Mal
Refers to an Islamic treasury institution intended for community development as well as to
provide for disadvantaged Muslims.
BNM
Bank Negara Malaysia.
Bursa Malaysia
Bursa Malaysia Securities Berhad the stock exchange managed or operated by Bursa
Malaysia Berhad.
Business Day
A day on which Bursa Malaysia is open for trading.
CMSA
Capital Markets and Services Act 2007 as may be amended from time to time.
Cooling-Off Period
Grace period for investors to reconsider their investment.
Deed(s)
The deeds or master deeds for the respective Funds and any other supplemental deeds
or master supplemental deeds that may be entered into between the Management
Company and the Trustees and registered with the Securities Commission Malaysia.
deposits
Money placed with financial institutions in fixed or current deposit.
Eligible Market
means a market that:
(a) is regulated by a regulatory authority;
(b) operates regularly;
(c) is open to the public; and
(d) has adequate liquidity for the purposes of the Fund.
For investments in a foreign market*, a foreign market is an eligible market where it has
satisfactory provisions relating to:
(a) the regulation of the foreign market;
(b) the general carrying on of business in the market with due regard to the interests of
the public;
(c) adequacy of market information;
(d) corporate governance;
(e) disciplining of participants for conduct inconsistent with just and equitable principles
in the transaction of business, or for a contravention of, or a failure to comply with
the rules of the market; and
(f) arrangements for the unimpeded transmission of income and capital from the
foreign market.
*Note:
Investments in a foreign market are limited to markets where the regulatory authority is
an ordinary or associate member of the International Organization of Securities
Commissions (IOSCO).
Equity-related
securities
Securities that are convertible or exchangeable to equity; e.g. warrants, convertible loan
stocks.
EPF
Employees Provident Fund.
FBM100
FTSE Bursa Malaysia Top 100 Index.
FBM EMAS
Shariah Index
FTSE Bursa Malaysia EMAS Shariah Index.
1
Libra Invest Berhad
Master Prospectus
Financial
Institution
(a) If the institution is in Malaysia –
i. licensed bank;
ii. licensed investment bank; or
iii. Islamic bank;
(b)
If the institution is outside Malaysia, any institution that is licensed/
registered/approved/authorised to provide financial services by the relevant banking
regulator.
fixed income
instruments
An instrument which provides returns in the form of fixed periodic payments and the return
of principal at maturity, including but not limited to short term instruments such as
government bills, commercial papers and fixed deposit, medium term notes and long term
instruments such as bonds.
Fund(s)
Libra IncomeEXTRA Fund (“IncomeEXTRA”) ; or
Libra EquityEXTRA Fund (“EquityEXTRA”) ; or
Libra BondEXTRA Fund (“BondEXTRA”) ; or
Libra MoneyEXTRA Fund (“MoneyEXTRA”) ; or
Libra VersatileEXTRA Fund (“VersatileEXTRA”) ; or
Libra DividendEXTRA Fund (“DividendEXTRA”) ; or
Libra TacticalEXTRA Fund (“TacticalEXTRA”) ; or
Libra Consumer and Leisure Asia Fund (“LCLAF”) ; or
Libra Liquidity Fund (“LLF”) ; or
Libra Resource Equity Fund (“LREF”) ; or
Libra SyariahEXTRA Fund (“SyariahEXTRA”) ; or
Libra Amanah Saham Wanita (“ASnita”); and
Libra ASnitaBOND Fund (“ASnitaBOND”)
Libra Shariah Liquidity Fund Series 2 (“LSLF Series 2”)
(hereinafter referred to individually as “the Fund” and collectively as “the Funds”).
GIA
Refers to investment account which is based on any Shariah contracts and applicable for
investment purposes.
Guidelines
Guidelines on Unit Trust Funds issued by the Securities Commission Malaysia as may be
amended from time to time.
GST
Goods and Services Tax.
Islamic deposits
Means a sum of money accepted or paid in accordance with Shariah(a) on terms under which it will be repaid in full, with or without any gains, return or any
other consideration in money or money‟s worth, either on demand or at a time or in
circumstances agreed by or on behalf of the person making the payment and person
accepting it; or
(b) under an arrangement, on terms whereby the proceeds under the arrangement to be
paid to the person paying the sum of money shall not be less than such sum of
money,
but excludes money paid bona fide(i)
by way of an advance or a part payment under a contract for the sale, hire or
other provision of property or services, and is repayable only in the event that the
property or services are not in fact sold, hired or otherwise provided;
(ii) by way of security for the performance of a contract or by way of security in
respect of any loss which may result from the non-performance of a contract;
(iii) without limiting paragraph (ii), by way of security for the delivery up or return of
any property, whether in a particular state of repair or otherwise; and
(iv) in such other circumstances, or to or by such other person, as set out in
schedule 2 of the IFSA.
2
Libra Invest Berhad
Master Prospectus
IFSA
Islamic Financial Services Act 2013.
IUTA
Institutional Unit Trust Adviser.
Investment
Purchase of Units by investors (sale of Units by the Management Company).
Liquidation
Redemption of Units by investors (repurchase of Units by the Management Company).
long term
Means a period of more than three (3) years.
Management
Company/
Manager/LIB
Libra Invest Berhad.
MARC
Malaysian Rating Corporation Berhad.
medium term
Means a period between one (1) to three (3) years.
MSCI AC Asia
Morgan Stanley Capital International All Country Asia Consumer Discretionary Index.
MSCI AC Asia
Pacific ex-Japan
Morgan Stanley Capital International All Country Asia Pacific ex-Japan.
MSCI ACWI
Morgan Stanley Capital International All Country World Index.
NAV
Net Asset Value of a fund is the value of all the assets of the fund at a particular valuation
point less the total liabilities of the fund at the same valuation point. For the purpose of
computing the annual management fee and annual trustee fee, the NAV of the fund
should be inclusive of the management fee and trustee fee for the relevant day.
NAV per Unit
The Net Asset Value of the Fund divided by the number of Units in circulation at the same
valuation point.
OTC
Over-the-counter trades refer to the trading of financial instruments directly between two
parties without going through the securities exchange. OTC trades are negotiable and
both parties agree upon the particular of the trade prior to settlement in the future.
oneINVEST /
oneINVEST Islamic
An investment strategy which provides unlimited free switches between selected Funds
which currently comprises EquityEXTRA, DividendEXTRA, ASnita and ASnitaBOND. The
Management Company may from time to time offer this strategy for other funds under its
management. Switching from a Shariah-compliant fund to a conventional fund is not
encouraged especially for Muslim Unit Holders.
RAM
RAM Rating Services Berhad.
Ringgit/RM and
sen
Ringgit Malaysia and sen respectively.
SACSC
Shariah Advisory Council of the Securities Commission Malaysia.
SC
Securities Commission Malaysia.
Shariah
means Islamic Law comprising the whole body of rulings pertaining to human conducts
derived from the sources of Shariah.
Shariah Adviser
Refers to IBFIM or any Shariah adviser appointed for the Fund which includes its
permitted assigns, successor in title and any new or replacement Shariah adviser.
short term
Means a period of less than one (1) year.
Shariah
requirements
A phrase or expression which generally means making sure that any human conduct
must not involve any prohibition and that in performing that conduct all the essential
elements that make up the conduct must be present and each essential element must
meet all the necessary conditions required by the Shariah for that element.
Single Pricing
Selling of Units by the Management Company (i.e. when you purchase Units) and
repurchase of Units by the Management Company (i.e. when you liquidate your Units) will
be carried out at NAV per Unit (the actual value of a Unit). The sales charge or
repurchase charge (if any) would be computed separately based on your investment or
liquidation amount.
Special Resolution
Means a resolution passed at a meeting of Unit Holders duly convened in accordance
with the Deed and carried by a majority in number representing at least three-fourths of
the value of the Units held by the Unit Holders voting at the meeting in person or by proxy.
sukuk
Refers to certificates of equal value which evidence undivided ownership or investment in
the assets using Shariah principles and concepts endorsed by the SACSC.
3
Libra Invest Berhad
Master Prospectus
transferable
securities
Equities, debentures and warrants.
Trustee(s)
Respectively, Maybank Trustees Berhad, CIMB Commerce Trustee Berhad and CIMB
Islamic Trustee Berhad.
Unit
Means an undivided share in the beneficial interest and/or right in the Fund and a
measurement of the interest and/or right of a Unit Holder in the Fund.
Unit Holder
Means the person registered as the holder of a Unit or Units including persons jointly
registered for the Fund.
4
Libra Invest Berhad
Master Prospectus
Unit Trust Funds managed and administered by the Management Company are:
Abbreviated Fund Name
Fund
Unit Trust Funds:
ASnita
ASnitaBOND
BondEXTRA
LREF
DividendEXTRA
EquityEXTRA
IncomeEXTRA
LCLAF
LLF
MoneyEXTRA
SyariahEXTRA
TacticalEXTRA
VersatileEXTRA
LSLF Series 2
5
Libra Invest Berhad
Master Prospectus
2. CORPORATE DIRECTORY
Management Company
:
Registered Office
:
2nd Floor, West Wing
Bangunan ECM Libra
8 Jalan Damansara Endah
Damansara Heights
50490 Kuala Lumpur
Business Address
:
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
General Line: 603-2089 1888
Investor Care Line: 603-2089 1883
Fax: 603-2096 1020 / 2096 1662
E-mail: [email protected]
Website: www.librainvest.com
Please check our website for any changes in the addresses and contact numbers.
Board of Directors
:
Datuk Kamarudin bin Md Ali (Chairman & independent non-executive
director)
Khairudin bin Ibrahim (Independent non-executive director)
Mahadzir bin Azizan (Independent non-executive director)
Gareth Lim Tze Xiang (Non-independent non-executive director)
Chin Jon Wei (Alternate director to Gareth Lim Tze Xiang)
Lee Wei Chung (Chief executive officer & non-independent executive
director)
Investment
Committee Members
:
Mahadzir bin Azizan (Chairman & independent member)
Khairudin bin Ibrahim (Independent member)
Datuk Kamarudin bin Md Ali (Independent member)
Gareth Lim Tze Xiang (Non-independent member)
Lee Wei Chung (Non-independent member)
Company Secretary
:
Chan Soon Lee (MIA 2562)
2nd Floor, West Wing
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
ECM Libra Financial Group
Berhad, Board Audit &
Risk Management
Committee Members
:
Datuk Kamarudin bin Md Ali (Chairman & independent non-executive
director)
Dato‟ Othman bin Abdullah (Independent non-executive director)
Mahadzir bin Azizan (Independent non-executive director)
6
Libra Invest Berhad
Master Prospectus
The Trustee(s) & its Delegates
(local & foreign)
Registered Office and
Business Address
:
8th Floor, Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur
Tel : 603 - 2078 8363 / 2070 8833
Fax: 603 - 2070 9387
Local Custodian
Registered Office
:
Malayan Banking Berhad (3813-K)
50050 Kuala Lumpur
Tel : 603 - 2074 7111
Fax: 603 - 2032 1572
Business Address
:
50050 Kuala Lumpur
Tel : 603 - 2074 7111 / 2070 8833
Fax: 603 - 2070 0966
Website: www.maybank2U.com.my
Foreign Custodian
Registered Office
:
Standard Chartered Bank Malaysia Berhad (115793-P)
Level 16, Menara Standard Chartered
30, Jalan Sultan Ismail
50250 Kuala Lumpur
Tel : 603 - 2117 7777
Website: www.standardchartered.com.my
Business Address
:
Mezzanine Floor, Menara Standard Chartered
50250 Kuala Lumpur
Tel : 603 - 2781 7319 / 2781 7327
Fax: 603 - 2711 6060
E-mail : [email protected]
Registered Office
:
CIMB Islamic Trustee Berhad (167913-M)
Level 13, Menara CIMB
Jalan Stesen Sentral 2
Kuala Lumpur Sentral
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 0099
Website: www.cimb.com
Business Address
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9889
7
Libra Invest Berhad
Master Prospectus
The Trustee(s) and its Delegates
(local and foreign)
Custodian
Registered Office
:
CIMB Islamic Bank Berhad (671380-H)
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 8889
Business Address
:
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 9892
Registered Office
:
CIMB Commerce Trustee Berhad (313031-A)
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 0099
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9889
Custodian
Registered Office
:
CIMB Bank Berhad (13491-P)
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 8889
Business Address
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9892
Shariah Adviser
Registered Office
:
IBFIM (763075-W)
No 149A, 149B, 151B
Persiaran Raja Muda Musa
42000 Port Klang
Selangor Darul Ehsan
Business Address
8
Libra Invest Berhad
Master Prospectus
Business Address
:
3rd Floor, Menara Takaful Malaysia
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 603 - 2031 1010
Fax: 603 - 2078 5250
Website: www.ibfim.com
Federation of Investment
Managers Malaysia (272577-P)
:
19-06-1, 6th Floor, Wisma Tune
19, Lorong Dungun
Damansara Heights
50490 Kuala Lumpur
Auditors
:
Ernst & Young (AF 0039)
Level 23A, Menara Milenium
Jalan Damanlela
Pusat Bandar Damansara
50490 Kuala Lumpur
Tax Adviser
:
PricewaterhouseCoopers Taxation Services Sdn Bhd (464731-M)
Level 10, 1 Sentral, Jalan Travers
P.O.Box 10192
50706 Kuala Lumpur, Malaysia
Principal Bankers
:
Malayan Banking Berhad (3813-K)
Ground Floor, Block C
Kompleks Pejabat Damansara
Jalan Semantan
Bukit Damansara
50490 Kuala Lumpur
Standard Chartered Bank Malaysia Berhad (115793-P)
50250 Kuala Lumpur
Solicitors
:
Raja, Darryl & Loh
Advocates and Solicitors
18th Floor, Wisma Sime Darby
Jalan Raja Laut
50350 Kuala Lumpur
9
Libra Invest Berhad
Master Prospectus
10
3. INVESTMENT STRATEGY - oneINVEST / oneINVEST Islamic
oneINVEST /
oneINVEST Islamic
Equity
Non-Equity (Islamic)

EquityEXTRA Fund

DividendEXTRA Fund
(Equity Funds)

ASnitaBOND Fund
(Bond Fund)
Equity (Islamic)

Amanah Saham Wanita
(Equity Fund)
Unlimited Free Switches
Switching from a Shariah-compliant Fund to a conventional Fund is not encouraged especially for Muslim Unit
Holders.
oneINVEST
/
oneINVEST
Islamic is an investment strategy that comprises two types of diversified,
professionally managed unit trust funds – equity and non-equity funds, and is categorised into conventional
and Shariah-compliant funds. The strategy is designed for investors who wish to participate simultaneously in
two major asset classes while retaining total flexibility in the asset allocation decision. The Funds complement
each other in terms of their contrasting attributes and the investment strategy seeks investor’s active
participation by allowing easy, convenient switching between the Funds when there is a change in market
conditions and interest rate direction, or a change in the investor’s risk tolerance and investment objectives.
Your Choice of Asset Class
Each Fund is designed with different objectives, which allows the investor maximum flexibility to choose the Fund that
best meets his/her investment goals and risk tolerance depending on the changes in market conditions and interest
rate direction. The following Funds are open-ended unit trust funds:
 ASnitaBOND (Islamic bond/income fund);
 EquityEXTRA (equity/growth fund);
 DividendEXTRA (equity/income fund); and
 ASnita (Islamic equity/growth and to a lesser extent income fund).
You may invest in one or more Funds with complete flexibility to switch between the Funds. The switches are free
and at NAV per Unit to NAV per Unit, subject to the availability of Units. No switching fee is imposed on any of the
switches so as to encourage profit taking (if any) (i.e. from holding in equity Funds and reinvestment in bond Funds.)
The switches also facilitate „cost averaging‟ by shifting the holding in bond Funds to equity Funds gradually, over a
reasonable time interval.
Libra Invest Berhad
Master Prospectus
11
STANDALONE ASNITABOND
Investors may invest in ASnitaBOND on a standalone basis (for those who do not want or who are not ready to invest
in the equity market) without the benefit of the switch option available to them if they were to invest through
oneINVEST / oneINVEST Islamic. Investors can avail themselves to the oneINVEST / oneINVEST Islamic switch
option through a conversion facility (refer to page 27 for details).
The standalone ASnitaBOND refer to the ASnitaBOND Fund under the
which has no switch option but charges a lower sales charge.
oneINVEST / oneINVEST Islamic strategy
Special Features and Advantages of Investing Through oneINVEST / oneINVEST Islamic
Investor Driven
 Allows investor to set up an investment portfolio reflecting his/her individual risk profile, objective and investment
time frame.
Dynamic yet Flexible
 Designed for maximum flexibility by allowing multiple switches between the Funds to take advantage of changes in
market conditions and interest rate direction.
 Unlimited free of charge switches between equity Funds and non-equity Funds at NAV per Unit to NAV per Unit.
Professional Management
 Disciplined top down investment process incorporating appraisal of global and domestic economic trends, asset
class evaluation, sector analysis and security analysis.
 Prudent risk management procedures and diversification.
Active Participation by the Investor
 Enables investor to be more financially aware of changing trends in the financial markets and the impact on his/her
investments.
 Encourages investor to adopt a more pro-active approach to personal investing.
Convenience and Expertise
 The fund managers will conduct detailed investment research which the individual investor may not have the time
or resources to carry out.
 The investor is kept informed with regular performance reports and market updates.
 Rebalancing or adjustments of the portfolio can be done conveniently by filing up and submitting a switch form to
any Nationwide Investor Care and Service Centres.
Transparency and Single Pricing (with sales charge)
 It is the pricing method whereby selling of units by the Management Company (i.e. when you purchase units) and
repurchase of units by the Management Company(i.e. when you liquidate your units) will be carried out at NAV per
Unit (the actual value of a unit). The sales or repurchase charge (if any) would be computed separately based on
your net investment or liquidation amount and separate from the price per unit. With „Single Pricing‟, you invest
and liquidate at one price – NAV per Unit (i.e. there is no spread between the selling price and buying price).
 LIB adopted this practice since its establishment in September 1999 which follows the international trend.
 In this pricing methodology, investments and liquidations in unit trust funds are made at NAV per Unit at the end of
a valuation point (usually at the end of the Business Day). Hence, at the point of investment, you can readily
determine the maximum charge (computed based on your net investment amount) you would incur even before
the NAV per Unit is known. The charge is clearly stated in your confirmation of investment (separate from your net
investment sum) which is generally sent to the investor within ten (10) Business Days.
Libra Invest Berhad
Master Prospectus
12
Competitive and Fair Sales Charge
 Timely and efficient service at competitive and fair cost is the service philosophy which drives LIB. Presently, the
maximum sales charge for investments through other than through EPF Members‟ Investment Scheme is 5% of
the Fund‟s NAV.
Deal Direct
 In its commitment to bring personalised investor care and attention to its investors, LIB has made a unique stance
to offer its funds and investment expertise predominantly through its full-time salaried employees. However,
investors may opt to go through appointed third party distributors or agency force. As salaried employees of the
company, they are focused on enhancing investors‟ total investment experience with LIB over the long term.
Regular All-In-One Statement/Report

Investors will regularly receive an all-in-one statement or report showing their oneINVEST / oneINVEST Islamic
portfolio performance. Details of initial and additional investments plus value and cost of your unitholdings are
clearly set out in our regular all-in-one statement or report. These detailed updates are designed to provide you
with the necessary information to better monitor your long term investment goals.
Libra Invest Berhad
Master Prospectus
13
4. KEY DATA
Fund Information
This section is only a summary of the salient information about the Funds. Investors should read and
understand the whole Master Prospectus before making investment decisions.
Fund Name
Fund Category
Fund Type
Inception Date
IncomeEXTRA
Balanced
Income and Growth
10 September 1999
EquityEXTRA
Equity
Growth
10 September 1999
BondEXTRA
Bond
Growth
8 October 2002
MoneyEXTRA
Bond
Income
8 October 2002
VersatileEXTRA
Balanced
Growth and to a lesser extent
income
28 October 2002
DividendEXTRA
Equity
Income
18 March 2005
TacticalEXTRA
Equity
Growth
18 March 2005
LCLAF
Equity
Growth
18 July 2007
LLF
Money Market
Income
18 February 2009
LREF
Equity
Capital Growth
18 March 2011
SyariahEXTRA
Balanced(Shariah)
income
12 March 1996
ASnita
Equity(Shariah)
income
4 May 1998
ASnitaBOND
Bond(Shariah)
Income
18 March 2005
LSLF Series 2
Money Market (Shariah)
Income
4 February 2015
Page(s)
-
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
Fund Description
IncomeEXTRA
IncomeEXTRA is an open-ended unit trust fund, investing in fixed income securities
(including money market instruments) and equities.
42
EquityEXTRA
EquityEXTRA is an open-ended unit trust fund, with a medium to long term
investment horizon, which invests primarily in equities and equity-related securities.
44
BondEXTRA
BondEXTRA is an open-ended unit trust fund investing primarily in high yield, long
term fixed income securities.
46
MoneyEXTRA
MoneyEXTRA is an open-ended unit trust fund, investing primarily in very short
term, highly liquid, near cash and money market instruments and partially in fixed
income securities.
48
VersatileEXTRA
VersatileEXTRA is an open-ended unit trust fund investing in a blend of quoted
securities, bonds, and other money market instruments and other financial
derivatives.
51
DividendEXTRA
DividendEXTRA is an open-ended unit trust fund, with a medium to long term
investment horizon, which invests principally in high dividend yield stocks.
54
TacticalEXTRA
TacticalEXTRA is an open-ended unit trust fund investing in quoted equities of
companies primarily with large market capitalization (big caps), bonds and other
money market instruments according to market outlook and economic conditions.
56
LCLAF
LCLAF is an open-ended regional unit trust fund, which seeks to offer investors a
wider investment universe of quality growth stocks by investing primarily in those
that offer exposure to the consumer and leisure sector in Asia. The Fund will be a
proxy to the growth prospects of this burgeoning sector which is expected to be a
major beneficiary of rising disposable income in the region. In turn, investors will
earn potentially attractive returns. The Fund‟s key performance is to search for
positive absolute returns over the medium to long term (3-5 years) investment
horizon.
59
LLF
LLF is an open-ended unit trust fund, investing primarily in Ringgit-denominated
short term deposits with licensed financial institutions.
62
LREF
LREF is an open ended global unit trust fund which will invest at least 70% of its
NAV in equities and equity-related securities of companies that are involved in the
exploration for and the development, production and marketing resources products
such as energy, minerals, agriculture and related industries globally which are listed
on the stock exchanges of countries listed in the MSCI ACWI (except for the
excluded countries mentioned in the investment strategy of the LREF in Section 6).
64
SyariahEXTRA
SyariahEXTRA is an open-ended unit trust fund investing in a blend of quoted
Shariah-compliant equities, sukuk and other Islamic money market instruments and
other Shariah-compliant derivatives (where available), which have been approved by
the SACSC and /or the Shariah Adviser.
67
ASnita
ASnita is an open-ended unit trust fund with long term (> 5 years) investment
horizon, which invests primarily in quoted Shariah-compliant equities and equityrelated securities.
70
ASnitaBOND
ASnitaBOND is an open-ended unit trust fund with a short to medium term
investment horizon, which invests primarily in sukuk.
73
LSLF Series 2
LSLF Series 2 is an open-ended unit trust fund investing in Ringgit-denominated
short term Islamic deposits with Financial Institutions.
75
Note: We regard 1-3 years as medium term and above 3 years as long term.
Page(s)
14
Libra Invest Berhad
Master Prospectus
15
Fund Information
Fund Name
Fund Objective
Page(s)
IncomeEXTRA
The Fund aims to provide investors with income* and capital appreciation over a
medium to long term investment horizon by investing in a balanced portfolio of fixed
income instruments and equities.
42
EquityEXTRA
The primary objective of the Fund is to maximize capital returns over a medium to long
term period by investing in an actively-managed, diversified portfolio of equity and
equity-related securities.
44
BondEXTRA
The primary objective of the Fund is to provide investors with aggressive long term
capital growth through investment in high yielding fixed income securities with a
relatively high level of market and financial risks.
46
MoneyEXTRA
The primary objective of the Fund is to maintain a high degree of liquidity while
providing current income through a direct investment portfolio investing in short term,
high quality Ringgit-denominated money market instruments.
48
VersatileEXTRA
The primary objective of the Fund is to provide investors medium to long term capital
appreciation through its investments in specified asset classes by adopting a relatively
balanced approach towards equities and fixed income exposure. The Fund aims to
achieve capital growth with lower and short term volatility than is normally associated
with a pure equity fund.
51
DividendEXTRA
The Fund seeks to achieve relatively stable returns via income and capital appreciation
over the medium to long term by investing principally in high dividend yield stocks.
54
TacticalEXTRA
The Fund aims to provide investors medium to long term capital appreciation by
investing principally in liquid equities with large market capitalization (big caps), and
fixed income instruments with flexible asset allocation.
56
LCLAF
The Fund seeks to provide capital appreciation over the medium to long term by
investing in a diversified portfolio comprising stocks of companies in Asia which are
considered to have strong growth prospects and are able to benefit from the rising
wealth effect of the region‟s middle class population.
59
LLF
The Fund seeks to preserve capital and maintain a high degree of liquidity while
providing steady income with minimal risk by investing primarily in short term deposits.
62
LREF
The Fund seeks to achieve capital growth over a medium to long term period by
investing primarily in equities and equity-related securities traded globally. The Fund
may also invest in fixed income securities, structured products and money market
instruments.
64
SyariahEXTRA
The Fund aims to provide investors with medium to long term capital appreciation
through investments in specified asset classes by adopting a relatively balanced
approach towards equities and fixed income exposure based on the Shariah principles.
The Fund aims to achieve capital growth with lower short term volatility than is normally
associated with a pure equity fund.
67
ASnita
The primary objective of the Fund is to offer relatively good and safe capital growth
over the long term period by investing principally in an actively-managed, diversified
portfolio of Shariah-compliant equities and equity-related securities.
70
ASnitaBOND
The Fund aims to provide capital preservation with regular income over the short to
medium term period by investing in Islamic money market instruments and sukuk.
73
LSLF Series 2
The Fund seeks to preserve capital¹ while providing steady income² by investing in
short term Islamic deposits.
75
* Distribution of income will primarily be done by way of reinvestment into additional Units. Kindly refer to the
distribution policy at page 123 of this Master Prospectus for full details.
Note 1: We regard 1-3 years as medium term and above 3 years as long term.
Note 2:
¹ Unit Holders are to note that this is not a capital guaranteed Fund. Unit Holders’ capital is neither guaranteed nor protected.
² All income distribution will be automatically reinvested into additional Units.
Libra Invest Berhad
Master Prospectus
16
Fund Information
Fund Name
Investment Strategy
Page(s)
IncomeEXTRA
The Fund invests primarily in income-generating securities from both fixed income
and equity asset classes. The Fund will be anchored by a relatively stable portfolio of
fixed income securities which would be held for their regular income yield.
Concurrently, the Fund will also invest equities that offer high dividend yields. Growth
will be the secondary objective of the Fund, which the Manager expects to derive
from the gradual capital appreciation of the high-dividend yielding stocks, as well as
from selected picks of fundamentally undervalued stocks.
42
EquityEXTRA
The Fund invests principally in equities and equity-related securities in Malaysia.
44
BondEXTRA
The Fund invests principally in long term bonds and fixed income securities. Its key
performance is entirely in search of consistent absolute returns over the long term
investment horizon.
46
MoneyEXTRA
The Fund adopts an investment strategy which will provide a return comparable to
that of Ringgit-denominated short term money market deposits, and at the same time,
preserve the Fund‟s principal value and maintain a high degree of liquidity.
48
VersatileEXTRA
The Fund invests principally in a balanced portfolio consisting of equities, equityrelated securities and fixed income securities. Its key performance is entirely in
search of consistent absolute returns over the medium to long term investment
horizon. It is a Malaysian focus fund but it may invest up to 30% of its NAV offshore.
51
DividendEXTRA
The Fund invests principally in high dividend yield stocks. It is a Malaysian focus fund
but it may invest up to 30% of its NAV offshore.
54
TacticalEXTRA
The Fund invests primarily in a portfolio of equities comprising large-cap companies
in search for returns against the backdrop of a bullish market. During market
uncertainty, it shall adopt a relatively defensive approach and have more fixed income
exposure to provide capital preservation or to invest tactically. Its key performance is
entirely in search of absolute returns over the medium to long term investment
horizon.
56
LCLAF
The Fund will have two concurrent strategies. On a macro level, the Fund will look for
upcoming trends or emerging areas of growth in the Asian consumer and leisure
sectors. These could arise, for example, from new developments in other global
markets or from new direct investments. On a micro level, the Fund will seek
undervalued consumer and leisure related companies that have yet to be re-rated to
their intrinsic values. These companies should have a strong business franchise, be
professionally managed and have proven business strategies.
59
LLF
The Fund invests up to 100% of its NAV in Ringgit-denominated short term deposits
with licensed financial institutions.
62
LREF
The Fund aims to achieve its investment objective through a diversified investment
portfolio of equities and equity-related securities which are listed on the stock
exchanges of countries listed in the MSCI ACWI (except for the excluded countries
mentioned in the investment strategy of the LREF in Section 6). The Fund will invest
at least 70% of its NAV in equities and equity-related securities of companies that are
involved in the exploration for and the development, production and marketing of
resources products such as energy, minerals, agriculture and related industries. The
Fund may also invest in other investments depending on the market outlook and
economic conditions.
64
Libra Invest Berhad
Master Prospectus
Fund Information
SyariahEXTRA
The Fund‟s key performance is entirely in search of consistent absolute returns, over
the medium to long term investment horizon.
67
ASnita
The Fund generally adopts an investment strategy which emphasises on appropriate
asset allocations in different market conditions to enhance risk-adjusted returns.
70
ASnitaBOND
The Fund adopts an investment strategy which will provide returns comparable to that
of short term Islamic money market deposits, and at the same time preserve the
Fund‟s principal value and maintain a high degree of liquidity.
73
LSLF Series 2
The Fund will invest 100% of its NAV in Ringgit-denominated short term Islamic
deposits with Financial Institutions.
Note: The Fund‟s investment in Islamic deposits may be lower than 100% to allow for
payment of fees and expenses as permitted under the Deed.
75
17
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
IncomeEXTRA
EquityEXTRA
BondEXTRA
Asset Allocation


Page(s)
42

Minimum 40% to 60% of the Fund‟s NAV in equities;
Minimum 40% to 60% of the Fund‟s NAV in fixed income securities (including
money market instruments) and liquid assets; and
Minimum 2% of the Fund‟s NAV in liquid assets.


Minimum 70% of the Fund‟s NAV in equity and equity-related securities; and
44

Minimum 70% of the Fund‟s NAV in fixed income instruments (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies); and

46
Weighted average term to maturity is expected to be approximately 4 to 8 years,
under normal circumstances.



MoneyEXTRA
Minimum 70% of the Fund‟s NAV in cash, deposits and other liquid assets;
Up to 30% of the Fund‟s NAV will be invested in money market instruments,
bonds with a minimum rating of A3 by RAM or equivalent rating by other rating
agencies, and commercial papers with a rating of P2 by RAM or equivalent
rating by other rating agencies; and
Minimum 2% of the Fund's NAV shall be in liquid assets.
Weighted average term to maturity is expected to be approximately 1 to 24 months,
under normal circumstances.
48
Note: other liquid assets include, but are not limited to, securities issued by the
government or quasi-government bodies, including but not limited to Khazanah,
Cagamas, Danaharta, Danamodal and BNM, securities guaranteed by the
government and private debt securities which have been accorded a rating of P1 by
RAM or equivalent rating by other rating agencies.


51

40% to 60% of the Fund‟s NAV in quoted equity and equity-related securities;
40% to 60% of the Fund‟s NAV in fixed income securities (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies) and liquid assets;
and


Minimum 70% of the Fund‟s NAV in equity and equity-related securities; and
54

Minimum 70% of the Fund‟s NAV in quoted equity and equity-related
securities;
Maximum 30% of the Fund‟s NAV in fixed income securities (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies); and
56
59
VersatileEXTRA
DividendEXTRA
TacticalEXTRA



LCLAF


Generally, at least 70% of the Fund‟s NAV in equity and equity-related
securities, while maintaining a minimum of 50% in non-Malaysian equity;
Minimum 10% of the Fund‟s NAV in fixed income securities (Malaysia); and
LLF

Up to 100% of the Fund‟s NAV in short term deposits.
62
LREF




Minimum 70% of the Fund‟s NAV in equity and equity-related securities;
Maximum 28% of the Fund‟s NAV in fixed income securities;
Maximum 15% of the Fund‟s NAV in structured products; and
Minimum 2% of the Fund‟s NAV in cash or liquid assets
64
18
Libra Invest Berhad
Master Prospectus
19
Fund Information
Fund Name
Asset Allocation

SyariahEXTRA
40% to 60% of the Fund‟s NAV in quoted Shariah-compliant equities and
equity-related securities;
40% to 60% of the Fund‟s NAV in sukuk (minimum P3 or BBB3 by RAM or
equivalent rating by other rating agencies) and Islamic liquid assets; and
Minimum 2% of the Fund‟s NAV in Islamic liquid assets.
67
Minimum 70% of the Fund‟s NAV in quoted Shariah-compliant equities and
equity-related securities; and
Minimum 2% of the Fund‟s NAV in Islamic liquid assets.
70


Minimum 70% of the Fund‟s NAV in sukuk; and
Minimum 2% of the Fund‟s NAV in cash, Islamic deposits & other Islamic liquid
assets.
73

100% of the Fund‟s NAV in short term Islamic deposits.



ASnita

ASnitaBOND
Page(s)
LSLF Series 2
Note: The Fund’s investment in Islamic deposits may be lower than 100% to allow for
payment of fees and expenses as permitted under the Deed.
Fund Name
Performance Benchmark
IncomeEXTRA
50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months fixed deposit
rate (source: www.bloomberg.com) (Note 1)
42
EquityEXTRA
FBM100
44
BondEXTRA
Maybank 12-months fixed deposit rate
46
MoneyEXTRA
Average repurchase agreement (Repo) rate on the short term money market
instrument / deposits offered to the Fund
48
VersatileEXTRA
The benchmark for VersatileEXTRA is VE benchmark. VE benchmark consists of
50% FBM100 and 50% Maybank 12-months fixed deposit rate (Note 1)
51
DividendEXTRA
FBM100
54
TacticalEXTRA
The benchmark for TacticalEXTRA is TE benchmark. TE benchmark consists of
50% FBM100 and 50% Maybank 12-months fixed deposit rate (Note 2) and Other
Benchmarks # (Note 3)
56
LCLAF
MSCI AC Asia Consumer Discretionary Index (source: www.bloomberg.com)
59
LLF
Maybank Overnight Repo rate
62
LREF
MSCI ACWI
64
SyariahEXTRA
The benchmark for SyariahEXTRA is SE benchmark. SE benchmark consists of
50% FBM EMAS Shariah Index and 50% Maybank 12-months GIA-i rate (Note 1)
67
ASnita
FBM EMAS Shariah Index
70
ASnitaBOND
Maybank 6-months GIA-i Tier 1 Rate
73
LSLF Series 2
Maybank 1-month GIA-i Tier 1 Rate
75
75
Page(s)
Note 1: Over the long term, equity asset allocation would range between 40%-60% of the Fund‟s NAV and fixed
income/sukuk and cash would range between 40%-60% of the Fund‟s NAV. Therefore, the composite benchmark is a
reflection of the Fund‟s average asset allocation over the long term of 50% of the Fund‟s NAV in equity and 50% of the
Fund‟s NAV in fixed income/sukuk and cash.
Note 2: Over the long term, equity asset allocation would range between 30%-70% of the Fund‟s NAV and fixed
income and cash would range between 30%-70% of the Fund‟s NAV. Therefore, the composite benchmark is a
Fund‟s NAV in fixed income and cash.
Libra Invest Berhad
Master Prospectus
20
Note 3:
1)
If the Fund invests more than 95% of the Fund‟s NAV in equities – 100% FBM100.
2)
If the Fund invests more than 95% of the Fund‟s NAV in fixed income – 100% Maybank 12-months fixed deposit
rate.
# Investors can apply these benchmarks to assess the performance of the Fund according to such asset allocation.
Unit Holders may contact the Management Company or visit our website at www.librainvest.com to obtain the most upto-date information on the performance benchmark. Please refer to Additional Information on page 155 on how to
reach the Management Company. For IncomeEXTRA, LCLAF and LREF, please refer to www.bloomberg.com and
www.reuters.com to obtain the performance benchmark.
Fund Name
Principal Risks
IncomeEXTRA
Market Risk
 risk resulting from changes in economic outlook.
Unsystematic Risk
 risk that is specific to a company arising from changes
in business variables that are unique to the company. It
can be reduced through diversification, unlike
systematic risk (or market risk) which is inherent in the
entire market and cannot be diversified away.
Country Risk
 risk that is specific to a country that the Fund invests in.
Currency Risk
 risk resulting from fluctuation in foreign exchange rates.
Credit/Default Risk
 risk that the issuer is unable to pay interest/profit due
and/or the principal amount on time.
Interest Rate Risk
 risk resulting from unforeseen movements in the
direction of interest rates.
Liquidity Risk
 risk that a security would have to be sold below its fair
value due to low trading volume.
Market Risk
Specific Risk
 risk resulting from changes to a particular company.
Liquidity Risk
Credit/Default Risk
Liquidity Risk
Inflation/Purchasing
Power Risk
 risk that inflation would reduce the purchasing power of
money.
Interest Rate Risk
Credit/Default Risk
Market Risk
Specific Risk
Liquidity Risk
Power Risk
 risk that inflation would reduce the purchasing power of
money.
Interest Rate Risk
EquityEXTRA
BondEXTRA
and
MoneyEXTRA
VersatileEXTRA
and
TacticalEXTRA
Page(s)
38-41
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
Principal Risks
DividendEXTRA
Market Risk
Specific Risk
Liquidity Risk
Currency Risk
Country Risk
 risk that is specific to a country invested in.
Liquidity Risk
Market Risk
Specific Risk
Sectorial Risk
 risk resulting from a downturn in specific sectors.
Financial Institution
Risk
 risk that the licensed financial institution defaults on its
obligations to pay back deposit and interest on demand.
Market Risk
Country Risk
 risk that is specific to a country invested in.
Currency Risk
Sectorial Risk
 risk resulting from a downturn in specific sectors.
Specific Risk
Derivatives Risk
 risk resulting from financial contracts whose value
derived from underlying asset, reference rate or index.
Interest Rate Risk
Credit/Default Risk
 risk that the issuer is unable to pay profit due and/or the
principal amount on schedule.
Liquidity Risk
LCLAF
LLF
LREF
Page(s)
38-41
21
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
SyariahEXTRA
Principal Risks
Page(s)
Credit/Default Risk
 risk that the issuer is unable to pay profit due and/or
the principal amount on schedule.
Market Risk
Specific Risk
Liquidity Risk
 risk that a Shariah-compliant security would have to
be sold below its fair value due to low trading volume.
Power Risk
 risk that inflation would reduce the purchasing power
of money.
Interest Rate Risk
ASnita
ASnitaBOND
Note: The movement in interest rate may affect value
of investment, it does not, however, suggest that the
Fund invests in interest bearing instruments/deposit.
Reclassification of
Shariah Status Risk
 risk that a security may be classified from Shariahcompliant to Shariah non-compliant in the 6 monthly
review.
Specific Risk
Liquidity Risk
Reclassification of
Shariah Status Risk
 risk that a security may be classified from Shariahcompliant to Shariah non-compliant in the 6 monthly
review.
Credit/Default Risk
 risk that the issuer is unable to pay profit due and/or
the principal amount on time.
Liquidity Risk
Power Risk
 risk that inflation would reduce the purchasing power
of money.
Interest Rate Risk
LSLF Series 2
Note: The movement in interest rate may affect value
of investment, it does not, however suggest that the
Fund invests in interest bearing instruments/deposits.
Market Risk
Financial Institution
Risk
 risk that licensed financial institution defaults on its
obligations to pay back deposit and/or profit when
due.
Interest Rate Risk
 risk resulting from changes in the interest rate
environment that would affect the performance of the
Fund.
38-41
22
Libra Invest Berhad
Master Prospectus
Potential Price
Fluctuation
Suggested Investment
Horizon for Investors
Financial Year End
IncomeEXTRA
Medium
3 to 5 years
31 December
EquityEXTRA
Relatively High
3 to 5 years
31 December
BondEXTRA
Low to Medium
3 to 5 years
31 December
Relatively Very Low
1 to 12 months
31 December
VersatileEXTRA
Medium to High
3 to 5 years
31 December
DividendEXTRA
Medium
3 to 5 years
31 December
TacticalEXTRA
Relatively High
3 to 5 years
31 December
High
3 to 5 years
31 December
Relatively Very Low
1 to 12 months
30 September
LREF
Medium to High
Above 2 years
30 September
SyariahEXTRA
Medium to High
Above 5 years
31 December
ASnita
Relatively High
Above 5 years
31 December
ASnitaBOND
Relatively Low
3 to 5 years
31 December
LSLF Series 2
Relatively Very Low
1 to 12 months
30 September
Fund Name
MoneyEXTRA
LCLAF
LLF
23
Page(s)
-
Libra Invest Berhad
Master Prospectus
24
Fund Information
Fund Name
IncomeEXTRA
EquityEXTRA
Investor’s Profile

Investors seeking for steady absolute capital growth and income* over the
medium to long term horizon at a moderate level of risk.

Relatively aggressive investors aiming for potentially higher returns that
outperform the FBM100;
Medium to long term investors who may not have the time or expertise to
monitor investments in a risky asset class;
Investors who have spare cash with no immediate use; and
Investors who are ready to switch back into non-equity fund.



BondEXTRA
MoneyEXTRA
VersatileEXTRA

Long term investors who are seeking to invest in high yield fixed income
securities with commensurate level of risk.

Investors who are looking for a safe investment vehicle to manage their short
term cash holdings more effectively.

Investors who place high importance in ensuring that the monetary value of
their investment retains its purchasing power through steady absolute capital
growth and income over the medium to long term horizon at a moderate level
or risk; and
Investors who are seeking to invest in a balanced portfolio of equities and fixed
income securities, but do not have the time or expertise to monitor their
investment or to make the tactical call to enter or swap one asset class to the
other at the appropriate times.



DividendEXTRA




TacticalEXTRA


LCLAF



LLF

Fairly conservative investors aiming for equity returns but with less volatility
than a growth fund;
Medium to long term investors who seek to participate in a diversified portfolio
of dividend paying stocks;
Investors who have spare cash with no immediate use; and
Investors who are ready to switch back into non-equity fund/equity fund in
anticipation of a change in market condition.
Page(s)
-
Investors who want to maximise returns attributable to asset allocation;
Investors who are relatively aggressive aiming for absolute capital growth and
return through an active investment approach over the long term horizon, at a
moderate to high level of risk; and
Investors who are seeking to invest in equities and fixed income securities, but
do not have the time or expertise to monitor actively their investments or to
shift allocation between the asset classes at the appropriate times.
Investors who wish to participate in a well diversified investment portfolio in the
Asia Pacific markets;
Investors who are seeking capital growth and return but do not have the time
to monitor their investments in a risky asset class;
Investors with medium to long term investment horizon; and
Investors who have spare cash with no immediate use.
Investors who seek regular income whilst maintaining capital stability and have
a short term investment horizon with low risk tolerance.
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
Investor’s Profile

Investors who seek capital growth over a medium to long term investment
horizon; and

Investors who wish to participate in the medium to long term capital growth
potential of companies engaged in the exploration for and the development,
production and marketing of resources products such as energy, minerals,
agriculture and related industries.

Investors who place high importance in ensuring that the monetary value of
their investment retains its purchasing power, through steady absolute capital
growth and income, over the medium to long term period, at a moderate level
or risk; and

Investors who are seeking to invest in a balanced portfolio of quoted Shariahcompliant equities and sukuk, but do not have the time or expertise to monitor
their investment or to make the tactical call to enter or swap one asset class to
the other at the appropriate times.

Investors who are looking for a well diversified investment portfolio in Shariahcompliant equities and equity-related securities with the potential of providing
reasonable return, through both capital appreciation and income distribution on
their investment, over a long period of time; and

Investors who seek to invest in equities and equity-related securities that
comply with Shariah requirements but do not have the time or skills to
undertake fundamental research and to gather relevant information to guide
their investment decision.

Conservative investors who are looking for a relatively stable Shariah-compliant
investment with potentially higher returns than traditional bank deposits;

Short to medium term investors seeking exposure to the wholesale sukuk
market which is not easily accessible to retail investors;

Investors who need to use their money only in the near term or as an
emergency fund; and

Investors who want to enjoy possible above-average Maybank GIA rate return
while waiting for an opportunity to invest into Shariah-compliant equity fund.

Investors who seek regular income, have a short term investment horizon and
have a low risk tolerance.
Page(s)
-
25
Libra Invest Berhad
Master Prospectus
Distribution Policy
Units in Circulation as at
10 February 2016
IncomeEXTRA
Half yearly (if any)
75,247,030.10
EquityEXTRA
Annually (if any)
44,305,676.67
BondEXTRA
Half yearly (if any)
49,862,585.57
MoneyEXTRA
Quarterly (if any)
306,191,167.85
VersatileEXTRA
Annually (if any)
1,638,896.57
DividendEXTRA
Annually (if any)
21,091,015.09
TacticalEXTRA
Incidental
52,284,730.09
LCLAF
Annually (if any)
67,993,498.60
LLF
Quarterly (if any)
109,349,108.40
Incidental
17,757,484.56
SyariahEXTRA
Annually (if any)
71,657,393.21
ASnita
Annually (if any)
88,165,009.41
ASnitaBOND
Annually (if any)
160,093,954.51
LSLF Series 2
Monthly (if any)
Nil
Fund Name
LREF
Page(s)
-
26
Libra Invest Berhad
Master Prospectus
27
The table below describes the charges that you may incur DIRECTLY when you purchase or redeem Units of the
Funds.
Charges DIRECTLY Incurred
Sales Charge
This is the maximum sales charge permitted by each distribution channels.
Fund Name
Non-EPF Member’s Investment
Scheme
EPF Member’s Investment
Scheme
Page(s)
% of the NAV per Unit
IncomeEXTRA
5*
Not applicable
EquityEXTRA
5*
3
BondEXTRA
5*
3
MoneyEXTRA
Nil
Nil
VersatileEXTRA
5*
Not applicable
DividendEXTRA
5*
3
TacticalEXTRA
5*
3
LCLAF
5*
Not applicable
LLF
Nil
Not applicable
LREF
5*
Not applicable
SyariahEXTRA
5*
3
Asnita
5*
Not applicable
ASnitaBOND
5*
3
LSLF Series 2
Nil
Not applicable
114
*The sales charge is negotiable.
Conversion Facility:
Unit Holders can avail themselves to the oneINVEST / oneINVEST Islamic switch option between equity Funds
and non-equity Funds by paying a one-off conversion fee of 3% of the NAV per Unit less the sales charge paid earlier.
Note:
Switching from a Shariah-compliant Fund to a conventional Fund is not encouraged especially for Muslim Unit Holders.
Libra Invest Berhad
Master Prospectus
28
Conversion facility is only applicable for the following Funds:
i. EquityEXTRA
ii. DividendEXTRA
iii. ASnitaBOND
iv. ASnita
EPF Member’s Investment Scheme
As at 10 February 2016, EPF members may invest in the following EPF-approved Funds:
ASnitaBOND, BondEXTRA, DividendEXTRA, EquityEXTRA, MoneyEXTRA, SyariahEXTRA and TacticalEXTRA. The
list may be revised by EPF from time to time.
The above is only applicable to investors who purchase Units via the EPF member‟s investment scheme and is subject
to changes by EPF from time to time. Please refer to the Manager for the latest list of Funds approved by EPF for
investment.
GST
With effect from 1 April 2015, a Unit Holder or the Fund (as the case may be) shall pay a GST at the rate of 6% which
may be imposed by the relevant authority in respect of any fees, charges or expenses payable by virtue of the Deed
for the respective Fund.
Investors should be aware that such fees, charges and expenses referred to or quoted in this Master Prospectus and
the Deed are referred to or quoted as being exclusive of GST.
Libra Invest Berhad
Master Prospectus
29
The table below describes the charges that you may incur DIRECTLY when you purchase or redeem Units of the
Funds.
Charges DIRECTLY Incurred
Fund Name
Repurchase Charge
Dilution Fee/
Transaction Cost &
Transfer Fee
Other Charges
Nil
There are no other
charges (except
charges levied by
banks on remittance
of money) payable
directly by investors
when purchasing or
redeeming Units.
Page(s)
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
Nil
LCLAF
LLF
LREF
114
SyariahEXTRA
Asnita
ASnitaBOND
LSLF Series 2
The table below describes the fees and expenses that you may incur INDIRECTLY when you invest in the Funds.
Fees INDIRECTLY Incurred
Fund Name
Annual Management
Fee
IncomeEXTRA
1.15% p.a.
Fund‟s NAV
of
the
EquityEXTRA
1.65% p.a.
Fund‟s NAV
of
the
BondEXTRA
1.00% p.a.
Fund‟s NAV
of
the
MoneyEXTRA
0.50% p.a.
Fund‟s NAV
of
the
VersatileEXTRA
1.50% p.a.
Fund‟s NAV
of
the
Annual Trustee Fee
0.08% p.a. of the Fund‟s
NAV, subject to a minimum
of RM30,000.00 p.a.
of RM35,000.00 p.a.
of RM18,000.00 p.a.
of RM18,000.00 p.a.
NAV
List of expenses
directly related to the
Fund
Expenses directly related
to the Funds include
auditor fees, brokerage
commission/fees, subcustodian fee, tax and
duties imposed by the
authorities. Valuation
fees, cost for
modification of deed,
cost of production and
distribution of Funds‟
reports, cost of
convening a Unit
Holders‟ meeting, other
than those incurred by or
for the benefit of the
Management Company
or Trustee, are also
direct expenses of the
Funds.
Page(s)
115-116
Libra Invest Berhad
Master Prospectus
The table below describes the fees and expenses that you may incur INDIRECTLY when you invest in the Funds.
Fees INDIRECTLY Incurred
Fund Name
Annual Management
Fee
DividendEXTRA
1.50% p.a.
Fund‟s NAV
of
the
TacticalEXTRA
1.50% p.a.
Fund‟s NAV
of
the
Annual Trustee Fee
List of expenses
directly related to the
Fund
Page(s)
NAV (excluding foreign
custodian fee)
fee of RM18,000.00 p.a
LCLAF
1.70% p.a.
Fund‟s NAV
of
the
NAV
LLF
0.30% p.a.
Fund‟s NAV
of
the
NAV
0.08% per annum of the
Fund‟s NAV, subject to a
minimum of RM18,000 per
annum (excluding foreign
custodian fees)
LREF
1.75% p.a.
Fund‟s NAV
of
the
SyariahEXTRA
1.50% p.a.
Fund‟s NAV
of
the
ASnita
1.50% p.a.
Fund‟s NAV
of
the
ASnitaBOND
1.15% p.a.
Fund‟s NAV
of
the
NAV
LSLF Series 2
0.30% p.a.
Fund‟s NAV
of
the
NAV
NAV
of RM50,000.00 p.a.
Expenses directly related
to the Funds include
auditor fees, brokerage
commission/fees, subcustodian fee, tax and
duties imposed by the
authorities, valuation
fees, cost for
modification of deed,
cost of production and
distribution of Funds‟
reports, cost of
convening a Unit
Holders‟ meeting, and
any other than those
expenses incurred by or
for the benefit of the
Management Company
or Trustee, are also
direct expenses of the
Funds.
115-116
Note:
The above fees and charges are exclusive of GST payable by a Unit Holder or the Fund (as the case may be).
30
Libra Invest Berhad
Master Prospectus
31
Fund Name
Other fees
payable
indirectly by an
investor
Custodian Fee
IncomeEXTRA
Note 1
EquityEXTRA
-
BondEXTRA
-
MoneyEXTRA
-
VersatileEXTRA
Note 2
DividendEXTRA
Note 3
TacticalEXTRA
Nil
LCLAF
LLF
Note 3
-
LREF
Note 3
SyariahEXTRA
-
ASnita
-
ASnitaBOND
-
LSLF Series 2
-
Rebate & Soft Commission
Page(s)
The Manager will retain soft
commissions
received
from
stockbrokers, provided they are of
demonstrable benefit to the Unit
Holders. Such soft commissions
may take the form of goods and
services such as data and quotation
services,
computer
software
incidental to the management of the
Funds and investment related
publications. Rebates, if any, will be
directed to the account of the
Funds.
116-117
Custodian Fee
Note 1: IncomeEXTRA

Safekeeping fee is up to 0.06% of the NAV of the foreign portfolio according to the country which the Fund
invests in.

Transaction fee is up to USD55 per transaction according to the country which the Fund invests in.
The custodian fee will be paid to the custodian, Standard Chartered Bank (Malaysia) Berhad for investments which are
made overseas.
Note 2: VersatileEXTRA

invests in.

made overseas.
Note 3: DividendEXTRA, LCLAF and LREF

The custodian fee payable is subject to an agreement with the custodian and will depend on the number of
transaction carried out and the place at which such transaction are effected. The custodian fee will be paid to the
custodian, for investments which are made overseas.
Libra Invest Berhad
Master Prospectus
32
Fund Name
Minimum
initial
investment
Minimum additional
investment
(RM)
Regular
(RM)
Non-regular
(RM)
5,000.00
200.00
1,000.00
Minimum
liquidation
Minimum
transfer
Minimum
balance
Page(s)
5,000
5,000
121
5,000
50,000
Units
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
2,000
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
100,000.00
Not
applicable
50,000.00
10,000
5,000.00
200.00
1,000.00
2,000
100,000.00
Not
applicable
5,000.00
5,000
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
The minimum transaction amount as specified above may be reduced by the Manager from time to time at its
absolute discretion.
Libra Invest Berhad
Master Prospectus
33
Fund Name
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
Liquidation
Notice /
Frequency
For all Funds,
Units may be
liquidated on
any Business
Day. There is no
limit as to
frequency of
liquidation
transactions.
Liquidation
notice for
MoneyEXTRA is
one (1) Business
Day prior to
liquidation (T-1
day). There is no
limit as to
frequency of
liquidation
transactions.
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
For all Funds,
Units may be
liquidated on
any Business
Day. There is no
limit as to
frequency of
liquidation
transactions.
Liquidation
Proceeds
Transfer
Facility
Switching
Facility
Minimum
Switching
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
original liquidation
form by the
Management
Company.
Nil
Nil
Note 1
Note 2
Nil
Nil
The Management
Company will use
best efforts to
make payment for
MoneyEXTRA on
the next Business
Day
(T+1 day).
Nil
Nil
Nil
Nil
Note 1
Note 2
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
form by the
Management
Company.
The Management
Company will use
best efforts to
make payment for
LLF on the next
Business Day
(T+1 day).
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
form by the
Management
Company.
The Management
Company will use
best efforts to
make payment for
LSLF Series 2 on
the next Business
Day
(T+1 day).
Transfer
between
individual
account and
corporate
account is
not allowed.
Page(s)
121-122
Nil
Nil
Note 1
Note 2
Nil
Nil
Note 1: This is only offered to Active Accounts of oneINVEST / oneINVEST Islamic strategy with unlimited free
switches between equity Funds and non-equity Funds. Switching from Shariah-compliant Funds to a conventional
Fund is not encouraged especially for Muslim Unit Holders.
Note 2: This is only applicable to oneINVEST / oneINVEST Islamic investors. The minimum Units allowed for
switching is 5,000 units, or such other limit at the Management Company‟s discretion.
Libra Invest Berhad
Master Prospectus
34
Fund Name
Cooling-Off Period
Page(s)
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
Within six (6) Business Days commencing from the date of receipt of the application
by the Management Company – full refund. Applicable for initial investment by
investors in any funds managed by the Management Company for the first time.
122
Not applicable to corporate/institutional investors, staff of the Management Company
and a person registered with a body approved by the SC to deal in unit trusts.
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
Fund Name
Page(s)
Unpresented cheques for payment of liquidation requests, if not reinvested shall be
dealt with in accordance with the provisions of the Unclaimed Moneys Act, 1965.
123
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
Libra Invest Berhad
Master Prospectus
Other Information
The Deed constituting the Funds was entered into between the Management Company and the Trustee.
Fund Name
Deed(s) Date
Trustee for the Fund
IncomeEXTRA
Deed: 25 August 1999
First Supplemental Deed: 26 August 2002
Second Supplemental Deed: 23 September 2002
Supplemental Master Deed: 4 March 2009
Second Supplemental Master Deed: 6 May 2011
Third Supplemental Master Deed: 2 June 2011
Fourth Supplemental Master Deed: 1 April 2015
Maybank Trustees Berhad
EquityEXTRA
First Supplemental Deed: 26 August 2002
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
Master Deed: 3 March 2005
First Supplemental Deed: 9 May 2007
Second Supplemental Deed: 30 April 2008
Third Supplemental Master Deed: 4 March 2009
Fourth Supplemental Master Deed: 6 May 2011
Fifth Supplemental Master Deed: 17 December 2013
Sixth Supplemental Master Deed: 1 April 2015
TacticalEXTRA
Third Supplemental Deed: 3 March 2005
LCLAF
Fifth Supplemental Master Deed : 17 December 2013
35
Libra Invest Berhad
Master Prospectus
Fund Name
Deed(s) Date
Trustee for the Fund
LLF
Deed: 23 December 2008
Supplemental Deed: 6 May 2011
Second Supplemental Deed: 17 December 2013
Third Supplemental Deed: 1 April 2015
LREF
Deed: 21 May 2010
Supplemental Deed: 6 May 2011
Second Supplemental Deed: 15 May 2013
Third Supplemental Deed: 1 April 2015
SyariahEXTRA
Deed under Abrar Unit Trust Management Berhad:
7 February 1996
Supplemental Deed under Abrar Unit Trust Management
Berhad: 2 October 1998
Deed under Libra Invest Berhad: 9 August 2002
Second Supplemental Deed: 3 October 2002
Third Supplemental Master Deed : 2 June 2011
ASnita
Deed under Hijrah Unit Trust Management Berhad:
30 April 1998
Deed under Libra Invest Berhad: 2 May 2003
First Supplemental Deed: 2 January 2004
Third Supplemental Master Deed : 2 June 2011
ASnitaBOND
Fifth Supplemental Deed: 17 December 2013
LSLF Series 2
Deed: 8 September 2014
First Supplemental Deed: 15 January 2016
36
Libra Invest Berhad
Master Prospectus
37
Avenue for advice available to prospective investors.
Fund Name
Avenue for Advice
Page(s)
You may contact us should you have any doubts about the information in this Master
Prospectus or would like to know more about investing in any of the Funds, please
call Libra Investor Care at (603) 2089 1883 or you may e-mail us at
[email protected]
155
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
There are fees and charges involved and investors are advised to consider them before investing in the
Funds.
Unit prices and distributions payable, if any, may go down as well as up.
For information concerning certain risk factors which should be considered by prospective investors, see
RISK FACTORS commencing on page 38
Past performance of the Funds is not an indication of future performance. Investors who intend to finance an
investment in a Shariah-compliant fund, or for that matter any Shariah-compliant investment, are advised to
seek for Islamic financing to finance their investment.
Libra Invest Berhad
Master Prospectus
38
5. RISK FACTORS
The risk management team works in tandem with the investment team to ensure the level of risk is suitable to the
Funds‟ overall performance targets. The Funds are constructed and managed within the pre-set investment guidelines
i.e. the risk budgets. The risk mitigation strategies adopted by the Manager includes diversification, due diligence,
reviews and hedging.
The Funds may experience any combination of the risks listed below depending on the types of securities in which the
Fund invests.
Generally, the specific risks of a fund that invests primarily in equities are market risk, specific risk and liquidity risk,
whilst the specific risks of a fund that invests primarily in fixed income/sukuk are interest rate risk, credit/default risk,
inflation/purchasing power risk and liquidity risk. Risks specific to money market funds are financial institution risk and
interest rate risk.
With respect to interest rate risk, it should be noted that interest rate is a general indicator that will have an impact on
the management of Funds regardless of whether it is a Shariah-compliant fund or otherwise. This does not in any way
suggest that SyariahEXTRA, ASnita, ASnitaBOND and LSLF Series 2 will invest in conventional financial instruments.
All investments carried out for SyariahEXTRA, ASnita, ASnitaBOND and LSLF Series 2 are in accordance with the
Shariah requirements.
The Funds that invest in foreign markets may also be exposed to currency risk and country risk.
General risks:

Risk of Non-Compliance
The Fund‟s objective may be affected should the Management Company and the fund managers not adhere to the
Fund‟s investment mandate. To maintain the Fund‟s integrity, sufficient internal policies, controls and monitoring must
be in place to protect the interests of Unit Holders. In this instance, the compliance unit of the Management Company
would oversee the operations of the Fund to reduce and minimise instances of non-compliance with internal policies
and the relevant laws, regulations and guidelines.

Fund Manager Risk
The performance of the Fund depends on the experience, knowledge and expertise of the fund manager and the
investment strategies adopted. The risk remains that the securities which the fund manager selected will not perform
as expected. This could cause the Fund‟s returns to lag behind similar funds‟ returns.

Returns Not Guaranteed
As a result of the risk elements described herein, the returns from the Fund are not guaranteed. Investment returns
and the principal value will vary. When sold, an investment may be worth more or less than when purchased.

Loan Financing Risk
Investors must be aware of the inherent risk involved with loan financing of the Fund, which would include the ability to
pay instalments, which may be affected by unforeseen circumstances such as an increase in interest rate and the
ability to provide additional collateral should the value of investment fall below a certain level.
Shariah-compliant unit trust fund‟s investors are advised to seek for Islamic financing to finance their acquisition.

Political Risk
The investments of the Fund may be adversely affected by political instability as well as exchange controls, changes in
taxation, foreign investment policies, restriction on repatriation of investments and other restrictions and controls which
may be imposed by the relevant authorities in the relevant countries. The Manager shall implement a stringent
screening process in respect of the country and region prior to investing to assess the impact of such risk to the
performance of the investments.

Regulatory Risk
Any changes in national or economic policies or regulations may have an adverse effect on the capital markets and
could sequentially have an impact on the investments of the Fund. To mitigate the impact of regulatory risk, the
Manager will seek to keep abreast of regulatory developments that may affect specific investments of the Fund while
attempting to pre-empt any regulatory changes that may adversely impact the investments of the Fund.
Libra Invest Berhad
Master Prospectus
39
Specific Risks in Equity Funds:

Market Risk
This is a class of risk that inherently exists in an economy and cannot be avoided by any business or company. It is
usually due to changes in the economic outlook and affects the confidence of the broad market. Market risk cannot be
removed from an investment portfolio by diversification. Investors should, therefore, note that the performance of the
Fund might go up or down in accordance with market movement.

Specific Risk
This class of risk represents the risk unique to a particular company due to company-specific factors such as capital
structure, quality of management, nature of business, and others. This risk may be greatly reduced through
diversification. The fund manager‟s expertise will also help to reduce exposure to specific risk through proper research
prior to sector and stock selection, and by adopting defensive stock selection strategies at appropriate times.
 Liquidity Risk
In a weak and thinly traded market where the transaction volume is low, the investments in the Fund may not be
liquidated in the desired amounts without causing the market price of the securities to fall sharply. The fund manager
aims to reduce liquidity risk by investing mainly in companies with large market capitalisation of not less than RM200
million, and are fairly liquid.

Currency Risk
The Funds that invest abroad are subject to currency risk as some of their investments will be denominated in foreign
currencies. The value of these Funds as expressed in RM will fluctuate in tandem with the changes in the exchange
rate between the RM and other currencies. This risk can be mitigated by investing in a portfolio of assets with diverse
foreign currencies to avoid over-concentration in a single foreign currency. The Funds may also seek to reduce this
risk by hedging the currency exposure.

Country Risk
The Fund‟s exposure in foreign investments may be affected by risks specific to the country which it invests in. Such
risks may include changes in the general political and economic conditions, government policies, tax regime and
currency fluctuations. These changes can adversely affect operating profit as well as the value of the assets that the
Fund has invested in. Diversifying the Fund‟s exposure into various foreign markets will mitigate the country risk of the
portfolio.

Reclassification of Shariah Status Risk
This risk refers to the currently held Shariah-compliant securities in the portfolio of Shariah-compliant Funds that may
be reclassified to be Shariah non-compliant upon review of the securities by SACSC performed twice yearly. If this
occurs, the fund manager will take the necessary steps to dispose of such securities.

Derivatives Risk
The Fund may use derivative instruments as part of its investment strategy. Derivative instruments are financial
contracts whose value depends on, or are derived from, the value of an underlying asset, reference rate or index. The
derivative instruments may include futures, options, warrant and swaps and the underlying assets, rates and indices
may include bonds/sukuk, stocks, interest rates, currency exchanges rates, and bond/sukuk, stock and commodity
indices. These derivatives allow for the use of leverage which may increase the volatility in the NAV and the NAV per
Unit of the Fund, if the market goes against the position of the derivatives.
The Management Company may use derivatives such as options and futures for hedging existing positions, efficient
portfolio management and/or to meet the investment objective of the Fund.
There are various risks associated with derivatives use. The process by which the Management Company assess,
monitors and controls some of the more important types of risk such as market risk, liquidity risk and currency risk
which have a direct influence on the Fund‟s NAV are mentioned in this section. The Manager will ensure that the
exposure to derivative instruments will NOT at any time exceed 100% of the Fund‟s NAV at all times. The Fund‟s
investments in derivatives (if any) shall always be subject to the restrictions stipulated under the sub-heading,
investment spread limits; sub-paragraph of investment restriction on derivatives.
The types of derivatives that may be used by the Management Company will include those traded on an exchange
such as Bursa Malaysia and those exchanges approved by the relevant regulatory authority. For Shariah-compliant
Funds, such derivatives must comply with Shariah.
Libra Invest Berhad
Master Prospectus

40
Sectorial Risk
This is a risk that is associated with a downturn in demand for goods and services offered by a particular sector in
which the Fund invests in. Typically, this is linked to adverse economic conditions.

Credit/Default Risk
Credit risk arises when there is a possibility that an issuer is unable to pay interest/profit due and/or the principal on
time. The fund manager expects to be able to reduce credit risk substantially by conducting thorough credit analysis
before investment, by investing mainly in issues with at least a P3 by RAM or equivalent rating by other rating
agencies for short term papers and BBB by RAM or equivalent rating by other rating agencies for long term
bonds/sukuk and by diversifying the portfolio.
Investors are to note that some of the equity funds are permitted to invest in bonds/sukuk and also placement of cash
with financial institutions for diversification purposes. The credit rating of the bond/sukuk issuers and the financial
institutions may be downgraded by the rating agencies due to credit default. As a result, it may affect the performance
of the Funds.

Counterparty Risk
There is a risk that a financial institution may default on its repayment/payment obligations with regard to repurchase
agreements and other contracts, or derivative investments made by the Fund. The Management Company aims to
mitigate this risk by performing fundamental credit research and analysis to determine the creditworthiness of its
counterparty, and thereby impose careful credit limit as a precautionary step to limit any loss that may arise directly or
indirectly as a result of the defaulted transaction. Any default by the counterparty would affect the NAV of the Fund. In
mitigating this risk, the Management Company will invest in the instrument via counterparties such as banks or
financial institutions with a high credit rating, at least „A‟ by Standard & Poor‟s or its equivalent by any other reputable
domestic or global rating agency. Thereafter, the Management Company will constantly monitor the credit rating of the
counterparty. If the rating of the counterparty falls below the minimum requirements, the Management Company may
look to sell/redeem the instrument, or replace with another instrument with a similar underlying asset or another
instrument that meets the objective of the Fund.
Specific Risks in Fixed Income/Sukuk Funds:

Market Risk
This is a class of risk that inherently exists in an economy and cannot be avoided by any business or company. It is
usually due to changes in the economic outlook and affects the confidence of the broad market. Market risk cannot be
removed from an investment portfolio by diversification. Investors should, therefore, note that the performance of the
Fund might go up or down in accordance with market movement.

Credit/Default Risk
Credit risk arises when there is a possibility that an issuer is unable to pay interest/profit due and/or the principal on
time. The fund manager expects to be able to reduce credit risk substantially by conducting thorough credit analysis
before investment, by investing mainly in issues with at least a P3 by RAM or equivalent rating by other rating
agencies for short term papers and BBB by RAM or equivalent rating by other rating agencies for long term
bonds/sukuk and by diversifying the portfolio.
 Interest Rate Risk
This risk relates to unforeseen movements in the direction of interest rates. Anticipating interest rate movements is a
critical element in determining the portfolio maturity structure of the Fund. The manager‟s top-down investment
approach ensures that a thorough evaluation of macro-economic variables is undertaken before an interest rate
strategy is implemented. In addition, it is also intended to have a sufficiently diverse range of maturities of fixed income
instruments that the Fund Invests in.
The above interest rate is a general indicator that will have an impact on the management of the Fund regardless
whether it is a Shariah-compliant unit trust fund or otherwise. It does not in any way suggest that the Fund will invest in
conventional financial instruments. All the investments carried out for the Fund are in accordance with Shariah
requirements.

Liquidity Risk
Liquidity risk is defined as the ease with which a security can be sold at or near its fair value depending on the volume
traded on the market. Should a security become illiquid, it may be sold at a discount to its fair value, thus lowering that
value of the Fund‟s investments and subsequently the value of Unit Holders‟ investments. To minimise liquidity risk,
the Fund maintains sufficient level of liquid assets to meet anticipated payments and liquidation of units by Unit
Holders.
Libra Invest Berhad
Master Prospectus

41
Inflation/Purchasing Power Risk
Inflation reduces the purchasing power of money. In an inflationary environment, fixed income securities/sukuk are
exposed to higher inflation risk than inflation-linked securities. By investing mainly in short term issues, the interest rate
structure of the portfolio can be adjusted quickly in response to any perceived significant change in the inflation rate.

Derivatives Risk
The Fund may enter into derivative instruments, which are financial contracts whose value depends on, or is derived
from, the value of an underlying asset, reference rate or index. The derivative instruments may include futures,
options, warrants and swaps and the underlying assets, rates and indices may include bonds/sukuk, stocks, interest
rates, currency exchanges rates, and bond/sukuk, stock and commodity indices. These derivatives allow for the use of
leverage which may increase the volatility in the NAV and the NAV per Unit of the Fund, if the market goes against the
position of the derivatives.
The Management Company may use derivatives such as options and futures for hedging existing positions, efficient
portfolio management and/ or to meet the investment objective of the Fund.
There are various risks associated with derivatives use. The process by which the Management Company assess,
monitors and controls some of the more important types of risk such as market risk, liquidity risk and currency risk
which have a direct influence on the Fund‟s NAV are mentioned in this section. The Manager will ensure that the
exposure to derivative instruments will NOT at any time exceed 100% of the Fund‟s NAV at all times. The Fund‟s
investments in derivatives (if any) shall always be subject to the restrictions stipulated under the sub-heading,
investment spread limits; sub-paragraph of investment restriction on derivatives.
The use of non-exchange traded or OTC derivatives involve counterparty risks arising from counterparty default or a
decline in the latter‟s credit rating. In mitigating this risk, the Management Company will invest in the instrument via
counterparties such as banks or financial institutions with a high credit rating, at least „A‟ by Standard & Poor‟s or its
equivalent by any other reputable domestic or global rating agency. Thereafter, the Management Company will
constantly monitor the credit rating of the counterparty. If the rating of the counterparty falls below the minimum
requirements, the Management Company may look to sell/redeem the instrument, or replace with another instrument
with a similar underlying asset or another instrument that meets the objective of the Fund.
The types of derivatives may be used by the Management Company will include those traded on an exchange such as
Bursa Malaysia and those exchanges approved by the relevant regulatory authority. For Shariah-compliant Funds,
such derivatives must comply with Shariah.
Specific Risks in Money Market Funds:

Financial Institution Risk
Financial institution risk occurs when a licensed financial institution which the Fund placed its deposits with, defaults on
its obligations to pay back the deposits and interests/profits on demand. To mitigate financial institution risks, the Fund
will diversify its placement of deposits with different financial institutions regulated by BNM.
 Interest Rate Risk
Interest rate risk refers to how changes in the interest rate environment would affect the performance of the Fund.
Deposit rates offered by Financial Institutions will fluctuate according to the overnight policy rate determined by BNM
and this may affect the Fund‟s investments in short term Islamic deposits at the point of investment. Depending on the
deposit rates locked in at the point of investment, the Fund‟s returns may be high when deposit rates are high and the
Fund‟s returns may be low when deposit rates are low.
The above interest rate is a general indicator that will have an impact on the management of the Fund regardless
whether it is a Shariah-compliant unit trust fund or otherwise. It does not in any way suggest that the Fund will invest in
conventional financial instruments. All the investments carried out for the Fund are in accordance with Shariah
requirements.
It is important to note that events affecting the investments cannot always be foreseen. Therefore, it is not always possible to
protect investments against all risks. Different investment instruments generally exhibit different levels of risk. Please note that the
returns of the Funds are not guaranteed.
The investment of the Funds carries risk and investors are recommended to read the whole Master Prospectus to assess the risks
of the Funds.
Investors are reminded that the above list of risks may not be exhaustive and if necessary, they should consult their adviser(s),
e.g. their bankers, lawyers, stockbrokers or independent financial advisers for a better understanding of the risks.
Libra Invest Berhad
Master Prospectus
42
6. DETAILED INFORMATION OF THE FUNDS
IncomeEXTRA Fund is an open-ended unit trust fund, investing in fixed income securities (including money market
instruments) and equities.
INVESTMENT OBJECTIVE
The principal objective of the Fund is to provide income* and capital appreciation over a medium to long term
investment horizon by investing in a balanced portfolio of fixed income instruments and equities.
Any material changes to the investment objective of the Fund would require Unit Holders‟ approval.
INVESTMENT STRATEGY
The Fund will invest primarily in income-generating securities from both fixed income and equity asset classes. The
Fund will be anchored by a relatively stable portfolio of fixed income securities which would be held for their regular
income yield. Concurrently, the Fund will also invest in equities that offer high dividend yields. Growth will be the
secondary objective of the Fund, which the Manager expects to derive from the gradual capital appreciation of the
high-dividend yielding stocks, as well as from selected picks of fundamentally undervalued stocks. While the fund is
actively managed, the frequency of its trading strategy will very much depend on market opportunities.
ASSET ALLOCATION
The Fund will invest 40% to 60% in equities, 40% to 60% of the Fund will be invested in fixed income securities
(including money market instruments and liquid assets). Liquid assets will be maintained at all times at a minimum of
2% of the Fund‟s NAV.
RISK MANAGEMENT STRATEGIES
Please refer to pages 38-41 for detailed explanation of risk management strategies employed by the fund manager.
TEMPORARY DEFENSIVE POSITIONS
During adverse equity market conditions, the Fund may hold a significantly lower amount of equities than the
prescribed minimum of 40% and invest instead in liquid and defensive assets (including fixed income securities with
different maturity dates).
PERFORMANCE BENCHMARK
The composite benchmark consists of 50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months fixed
deposit rate. (Source : www.bloomberg.com)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute returns.
This means that the Fund is focused on achieving a positive return, even in a downtrend market rather than beating
the benchmark. However, as required by the Guidelines, composite benchmark comprising indices for the two major
assets classes (equity and fixed income securities) is used to provide investors with a reference point for their
investments.
Over the long term, equity asset allocation would range between 40% – 60% of the Fund‟s NAV, and fixed income
securities and cash would range between 40% – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
Fund‟s NAV in fixed income securities and cash.
By definition, absolute returns are the static measure of the actual return an asset achieves over a period of time. The
Fund seeks to deliver positive returns independent of how the fixed income securities, cash and equity market perform.
The fund manager focuses on achieving positive returns, even in a downtrend market, rather than beating the
benchmark.
Libra Invest Berhad
Master Prospectus
43
PERMITTED INVESTMENTS
Unless otherwise prohibited by the relevant authorities or any relevant law and provided always that there are no
inconsistencies with the objective of the Fund, the Fund is permitted under the Deed to invest in the following:









Securities traded on the Bursa Malaysia or any other market considered as an Eligible Market;
Securities not listed in or traded under the rules of an Eligible Market (“Unlisted Securities”);
Securities or instruments listed or traded on foreign markets where the regulatory authority is a member of the
International Organization of Securities Commissions (IOSCO);
Fixed income securities;
Money market instruments;
Collective Investment Schemes;
Derivatives for hedging purposes only;
Liquid assets; and
Any other kind of investments as permitted by the relevant authorities from time to time.
INVESTMENT RESTRICTIONS
The investment limits or restrictions for IncomeEXTRA shall be as follows, or any other limits as may be prescribed by
the SC from time to time:
Exposure Limit:
 The value of the Fund‟s investments in unlisted securities must not exceed 10% of the Fund‟s NAV.
 The above exposure limit of unlisted securities does not apply to “unlisted securities” that are:
(a) Equities not listed or quoted on a stock exchange but have been approved by the relevant regulatory authority
for such listing and quotation, and are offered directly to the Fund by the issuer;
(b) Debentures traded on an organized OTC market; and
(c) Structured products
Investment Spread Limits:
 The value of the Fund‟s investments in ordinary shares issued by any single issuer must not exceed 10% of the
Fund‟s NAV;
 The value of the Fund‟s investments in transferable securities and money market instruments issued by any single
issuer must not exceed 15% of the Fund‟s NAV;
 The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV;
 For investments in derivatives:
(a) the exposure to the underlying assets must not exceed the investment spread limits stipulated in the
Guidelines;
(b) the value of the Fund‟s OTC derivative transaction with any single counter-party must not exceed 10% of the
Fund‟s NAV; and
(c) the Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times.
 The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits,
and OTC derivatives issued by or placed with (as the case may be) any single issuer/financial institution must not
exceed 25% of the Fund‟s NAV.
 The value of the Fund‟s investments in units/shares of any collective investment scheme must not exceed 20% of
the Fund‟s NAV; and
 The value of the Fund‟s investments in transferable securities and money markets instruments issued by any
group of companies must not exceed 20% of the Fund‟s NAV.
Investment Concentration Limits:

The Fund‟s investments in transferable securities (other than debentures) must not exceed 10% of the securities
issued by single issuer;

The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer.

The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any
single issuer. However, the limit does not apply to money market instruments that do not have a pre-determined
issue size; and

The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
collective investment scheme.
INVESTMENT ABROAD
The Fund may invest in the following foreign markets: Hong Kong, Singapore, Indonesia, Thailand, Philippines, Taiwan
and Korea.
Details of the policy on the application of the investment restrictions are set out on page 77.
Libra Invest Berhad
Master Prospectus
44
EquityEXTRA Fund is an open-ended unit trust fund with a medium to long term investment horizon, which invests
primarily in equity and equity-related securities.
The primary objective of the Fund is to maximize capital returns over a medium to long term period by investing in an
actively-managed, diversified portfolio of equity and equity-related securities.
INVESTMENT STRATEGY
The fund manager for EquityEXTRA shall generally adopt an active investment strategy which emphasises on
appropriate asset allocation, for different market conditions to enhance risk-adjusted returns through riding market
cycles, situational opportunities, value emergence and trend reversal plays and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of stocks that the fund manager believes should
perform well under an anticipated economic condition. Individual stock selection will then focus on well-managed,
financially sound companies with attractive relative valuations and potential for high earnings growth over the medium
to long term time frame. The analysis includes ratio analysis on the financial performance of companies, trend analysis
to forecast future performance, and stock valuation methods. Occasionally, when market trading is skewed towards
index-linked large capitalized stocks, the Fund will attempt to track the performance of the FBM100 by adjusting its
portfolio composition accordingly. While the fund is actively managed, the frequency of its trading strategy will very much
depend on market opportunities.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities. Liquid assets will be
maintained at all times at a minimum of 2% of the Fund‟s NAV.
Please refer to pages 38-41 for detailed explanation of risk management strategies employed by the Manager.
During adverse market conditions, or when the fund manager anticipates a downturn in market conditions, the Fund
may hold significantly higher amount of liquid and defensive assets (including fixed income securities with different
maturity dates) than that prescribed by their respective mandates. The fund manager would be expected to re-align the
Fund with the principal strategies when market conditions turn for the better.
The benchmark of the Fund is FBM100. (Source : Lipper )
 Ordinary shares and other equity-related securities such as convertible securities, preference shares, warrants
listed on Bursa Malaysia or other public exchanges in Malaysia;
 Liquid assets, unlisted fixed income securities and commercial papers traded in money market;
 Futures contracts traded in futures market, for hedging purposes only;
 The securities that the Fund would deem appropriate for investment should, in general, be issued by companies
that exhibit good management track record whereby in addition to strong corporate governance, management is
transparent and look after minority interest, a sound history of long term profitability and earning resilience, a
strong balance sheet which indicates that balance sheet is not „over geared‟ * when compared to peers in the
respective industry (since each industry is slightly different), and have a good competitive position whereby the
company should be among the top 5 companies in their respective industry, in terms of market share; and
 Any other kind of investment or investments as permitted by the relevant authorities from time to time.
Note:
*The term not „over geared‟ is defined as net gearing ratio {(total debt-cash)/ total equity} of the company should not be more
than 2 times.
Libra Invest Berhad
Master Prospectus
45
The investment limits/restrictions for EquityEXTRA shall be as follows, or any other limits as may be prescribed by the
SC from time to time:
Exposure Limit:
 The value of the Fund‟s investments in unlisted bonds and fixed income securities as well as commercial papers
traded in the money market must not exceed 50% of the Fund‟s NAV.
Fund‟s NAV;
Fund‟s NAV;
 The Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times;
 For investments in derivatives, the exposure to the underlying assets of that derivative must not exceed the
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivative transaction with
any single counter-party must not exceed 10% of the Fund‟s NAV;
 The value of the Fund‟s investments in structured products issued by a single counter-party must not exceed 15%
of the Fund‟s NAV;
OTC derivatives and structured products issued by or placed with (as the case may be) any single issuer/ financial
institution must not exceed 25% of the Fund‟s NAV;
 The value of the Fund‟s investments in transferable securities and money market instruments issued by any group
of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in transferable securities (other than debentures) must not exceed 10% of the securities
issued by any single issuer;
 The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer;
 The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any
issue size; and
 The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
Libra Invest Berhad
Master Prospectus
46
BondEXTRA Fund is an open-ended unit trust fund, investing primarily in high yield, long term fixed income securities.
Its key performance is entirely in search of consistent absolute returns over the long term investment horizon. The
Fund expects to maintain a weighted average portfolio maturity appropriate to its stated investment objective. Under
normal circumstances, the weighted average term to maturity of investments is expected to be approximately 4 to 8
years.
The primary objective of the Fund is to provide investors with aggressive long term capital growth through investment
in high yielding fixed income securities with a relatively high level of market and financial risks.
INVESTMENT STRATEGY
Before constructing the portfolio of a particular fund, the fund manager will analyse the macro environment to enhance
risk-adjusted returns by identifying market cycles, situational opportunities, value emergence, trend reversal plays and
asset class rotation.
With respect to fixed income instruments, the fund manager will focus on consistent, above-average returns from
fundamental research rather than from frequent trading. The frequency of its trading strategy will depend on market
opportunities. Emphasis is placed on credit-worthiness, investment-grade issuers of debt. A disciplined application of
the „top-down‟ investment process is therefore applied, with due consideration given to the credit standing of individual
issuers. The fund manager will seek to diversify the investments of the Fund across sectors and individual securities in
order to minimize the risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in fixed income instruments with a minimum credit rating of P3 or
BBB3 by RAM or equivalent rating by other rating agencies. Liquid assets will be maintained at all times at a minimum
of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Maybank 12-months fixed deposit rate. (Source: Lipper)
Investment in the Fund is not the same as placement in a deposit with a financial institution. The capital and returns of
the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not reflect that of a
fixed deposit.

Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.
Such instruments include Malaysian government securities, treasury bills and Bank Negara bills;

Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;

Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
Libra Invest Berhad
Master Prospectus



47
Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or
MARC. The credit rating of an issue may also be enhanced through bank guarantees or corporate guarantees;
Futures contracts traded in futures market, for hedging purposes only; and
Any other kind of investment or investments as permitted by the relevant authorities from time to time.
The investment limits/restrictions for BondEXTRA are as follows, or any other limits as may prescribed by the SC from
time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are debentures traded on
an organized OTC market.
 The value of the Fund‟s investments in debentures issued by any single issuer must not exceed 20% of the Fund‟s
NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the debentures are rated by any
domestic or global rating agency to be of the best quality and offer highest safety for timely payment of interest
and principal;
 The value of the Fund‟s investments in debentures issued by any one group of companies must not exceed 30%
Fund‟s NAV;
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivatives transaction with
OTC derivatives and structured products issued by or placed with (as the case may be) any single issuer/financial
institution must not exceed 25% of the Fund‟s NAV. However, the aggregate value of the Fund‟s investment must
not exceed 30% of the Fund‟s NAV where the single issuer limit is increased to 30% of the Fund‟s NAV if the
debentures are rated by any domestic or global rating agency to be of the best quality and offer highest safety for
timely payment of interest and principal; and
the Fund‟s NAV.
 The Fund‟s investment in debentures must not exceed 20% of the debentures issued by any single issuer;
 No maximum limit is imposed if the issuer is the Malaysian Government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions;
issue size; and
 The Fund‟s investments in collective instruments schemes must not exceed 25% of the units/shares in any one
Additionally,
 BondEXTRA will normally invest at least 50% of its NAV in any one or all of the following:
o Fixed income securities with a minimum investment grade of P3 by RAM or MARC-3 by MARC for short- term
issues and BBB by RAM or equivalent rating by other rating agencies for long term issues;
o Securities issued by the Malaysian Government, BNM, banks or other licensed financial institutions;
o Issues guaranteed by the Malaysian Government, BNM, banks or other licensed financial institutions; and
o Deposits with banks or other licensed financial institutions.
If a rated corporate issue is downgraded to below the minimum credit rating of local short term rating of P3 by RAM or
MARC-3 by MARC, or local long term rating of BBB by RAM or equivalent rating by other rating agencies, and it
causes the investment limit to be breached, the fund manager would use their best efforts to dispose the holdings
before maturity, failing which, it shall be held to maturity.
Libra Invest Berhad
Master Prospectus
48
MoneyEXTRA Fund is an open-ended unit trust fund investing primarily in very short term, highly liquid, near cash,
money market instruments and partially in fixed income securities. The Fund expects to maintain a weighted average
portfolio maturity appropriate to its stated investment objective. Under normal circumstances, the weighted average
term to maturity of the investments is expected to be approximately 1 to 24 months.
The primary objective of the Fund is to maintain a high degree of liquidity while providing current income through a
direct investment portfolio investing in short term, high quality Ringgit-denominated money market instruments.
INVESTMENT STRATEGY
With respect to fixed income instruments, the fund manager will focus on consistent, above-average returns from
fundamental research rather than from frequent trading. The frequency of its trading strategy will depend on market
opportunities. Emphasis is placed on credit-worthiness, investment-grade issuers of debt. A disciplined application of
the „top-down‟ investment process is therefore applied, with due consideration given to the credit standing of individual
issuers. The fund manager will seek to diversify the investments of the Fund across sectors and individual securities in
order to minimize the risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in cash, deposits and other liquid assets. Other liquid assets
include, but are not limited to, securities issued by the government or quasi-government bodies, including but not
limited to Khazanah, Cagamas, Danaharta, Danamodal and BNM, securities guaranteed by the government and
private debt securities which have been accorded a rating of P1 by RAM or its equivalent rating by other rating
agencies.
Up to 30% of the Fund‟s NAV will be invested in money market instruments, bonds with a minimum credit rating of A3
by RAM or its equivalent by other rating agencies and commercial papers with a credit rating of P2 by RAM or its
equivalent rating by other rating agencies.
Liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Average Repurchase Agreement (Repo) rates on the short term money market
instruments/deposits offered to the Fund. (Source: Lipper)
A Repo is a transaction wherein money market instruments are sold at a particular price by one party (seller) to the
other (buyer) with a commitment on the seller‟s part to repurchase the equivalent securities from the buyer on a certain
date and at a certain price, both such date and price being fixed as part of the same transaction.
Libra Invest Berhad
Master Prospectus
49

Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.

Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;

Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;

Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or

Futures contracts traded in futures market, for hedging purposes only; and

Any other kind of investment or investments as permitted by the relevant authorities from time to time.
The investment limits/restrictions for MoneyEXTRA shall be as follows, or any other limits as may prescribe by the SC
from time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are debentures traded on
an organized OTC market.

The value of the Fund‟s investments in debentures issued by any single issuer must not exceed 20% of the Fund‟s
NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the debentures are rated by any
domestic or global rating agency to be of the best quality and offer highest safety for timely payment of interest
and principal;

The value of the Fund‟s investments in debentures issued by any one group of companies must not exceed 30%

The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV;

The Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times;

For investments in derivatives, the exposure to the underlying assets of that derivatives must not exceed the
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivatives transaction with

The value of the Fund‟s investments in structured products issued by a single counter-party must not exceed 15%

The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits,
institution must not exceed 25% of the Fund‟s NAV. However, the aggregate value of the Fund‟s investment must
not exceed 30% of the Fund‟s NAV where the single issuer limit is increased to 30% of the Fund‟s NAV if the
debentures are rated by any domestic or global rating agency to be of the best quality and offer highest safety for
timely payment of interest and principal; and

The value of the Fund‟s investments in units/shares of any collective investment scheme must not exceed 20% of
the Fund‟s NAV.
If a private debt security is downgraded to below the minimum credit rating of P2 or A3 by RAM or equivalent rating by
other rating agencies, the fund manager will assess the downgraded credit to determine the viability of the security‟s
issuer. A decision is then made on whether to dispose of the security or to hold it until maturity.
For a defaulted private debt security, meetings are held with the security‟s issuer, trustees and other holders of the
defaulted security to discuss restructuring and/or repayment plans with a view towards recovery and settlement of the
security.
Libra Invest Berhad
Master Prospectus
50

The Fund‟s investment in debentures must not exceed 20% of the debentures issued by any single issuer;

No maximum limit is imposed if the issuer is the Malaysian government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions;

The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any
issue size; and

The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
Libra Invest Berhad
Master Prospectus
51
VersatileEXTRA Fund is an open-ended unit trust fund, investing in a blend of quoted securities, bonds and other
money market instruments and financial derivatives (financial instruments that have no intrinsic value but derive their
value from an underlying instrument such as interest rates, indices and share prices). The financial derivatives are
used to manage one‟s exposure to unexpected price fluctuations in the equity and bond markets. Examples of financial
derivatives are FBM100 futures, FBM100 options and Malaysian Government Securities futures. VersatileEXTRA will
invest principally in a balanced portfolio consisting of equities, equity-related securities and fixed income securities. Its
key performance is entirely in search of consistent absolute returns over the medium to long term investment horizon.
VersatileEXTRA is a Malaysian-focus Fund but for tactical call, the Fund may invest up to 30% of its NAV offshore.
The primary objective of the Fund is to provide investors medium to long term capital appreciation through its
investments in specified asset classes by adopting a relatively balanced approach towards equities and fixed income
exposure. The Fund aims to achieve capital growth with lower and short term volatility than is normally associated with
a pure equity fund.
INVESTMENT STRATEGY
The fund manager for VersatileEXTRA shall generally adopt an active investment strategy which emphasizes on
to forecast future performance and stock valuation methods. Occasionally, when market trading is skewed towards
ASSET ALLOCATION
The Fund will invest between 40% to 60% of its NAV in quoted equity and equity-related securities. The Fund will also
invest between 40% to 60% of its NAV in fixed income securities with a minimum credit rating of P3 or BBB3 by RAM
or equivalent rating by other rating agencies and liquid assets. Liquid assets will be maintained at all times at a
minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM100 and 50% of the Maybank 12months fixed deposit rate. (Source: Lipper)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute (i.e.
positive) returns. This means that the Fund is focused on achieving a positive return, even in a downtrend market
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark comprising indices
for the two major assets classes (equity and fixed income) is used to provide investors with a reference point for their
investments.
Libra Invest Berhad
Master Prospectus
52
Over the long term, equity asset allocation would range between 40 – 60% of the Fund‟s NAV, and fixed income
securities and cash would range between 40 – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
Fund‟s NAV in fixed income and cash.
Fund seeks to deliver positive returns independent of how the fixed income, cash and equity market perform. The fund
manager focuses on achieving positive returns, even in a downtrend market, rather than beating the benchmark.
 Securities of Malaysian companies listed on a recognised stock exchange;
 Securities listed on Foreign Stock Exchanges which have been permitted by the relevant authorities from time to
time;
 Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.
 Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;
 Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
 Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or
 Futures contracts traded in futures market, for hedging purposes only; and
The investment limits/restrictions for VersatileEXTRA Fund shall be as follows, or any other limits as may be
prescribed by the SC from time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are equities not listed or
quoted on a stock exchange but have been approved by the relevant regulatory authority for such listing and
quotation, and are offered directly to the Fund by the issuer and debentures traded on an organized OTC market.
Fund‟s NAV;
Fund‟s NAV;

The value of the Fund‟s investments in transferable securities and money market instruments issued by any group
Libra Invest Berhad
Master Prospectus
53
Investment Concentration Limits
issue size; and
INVESTMENT ABROAD
The Fund may invest up to 30% of its NAV in equity and equity-related securities listed in the following foreign
markets:
 The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited in Hong Kong;
 The Stock Exchange of Thailand in Thailand; and
 The Singapore Exchange Limited (SGX) in Singapore.
Libra Invest Berhad
Master Prospectus
54
DividendEXTRA Fund is an open-ended unit trust fund with a medium to long term investment horizon, which invests
principally in high dividend yield stocks. DividendEXTRA Fund is a Malaysian focus fund but for tactical call, the Fund
may invest up to 30% of its NAV offshore.
The Fund seeks to achieve relatively stable returns via income and capital appreciation over the medium to long term
by investing principally in high dividend yield stocks.
INVESTMENT STRATEGY
The fund manager for DividendEXTRA shall generally adopt an active investment strategy which emphasises on
to forecast future performance, and stock valuation methods. Occasionally, when market trading is skewed towards
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities. Liquid assets will be
maintained at all times at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the FBM100. (Source: Lipper)

Listed ordinary shares and other equity-related securities such as convertible securities, preference shares,
warrants, liquid assets and fixed income securities traded in money market;

Futures contracts traded in futures markets of an exchange approved under the Act, for hedging purposes only;

The securities that the Fund would deem appropriate for investment should, in general, be issued by well
managed companies where dividends are expected to be maintained or grow, with potential growth of the
companies and the industry, and exhibit good management track record;and

Other kinds of investments in Malaysia and outside Malaysia as agreed by the Management Company and
Trustee, and permitted by the relevant authorities from time to time.
The securities that DividendEXTRA would deem appropriate for investment should, in general, be issued by well
managed companies where dividends are expected to be maintained or grow; with potential growth of the companies
and the industry, and exhibit good management track record.
Libra Invest Berhad
Master Prospectus
55
The investment restrictions for DividendEXTRA are as follows, or any other limits as may be prescribed by the SC from
time to time:
Exposure Limit:
quotation, and are offered directly to the Fund by the issuer.
Fund‟s NAV;
Fund‟s NAV;
issue size; and
INVESTMENT ABROAD
The Fund may invest up to 30% of its NAV in equity and equity-related securities listed in the following foreign
markets:
 The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited in Hong Kong;
 The Stock Exchange of Thailand in Thailand; and
 The Singapore Exchange Limited (SGX) in Singapore.
Libra Invest Berhad
Master Prospectus
56
TacticalEXTRA Fund is an open-ended unit trust fund investing in quoted equities of companies primarily with large
market capitalisation (big caps), bonds and other money market instruments according to the market outlook and
economic conditions. TacticalEXTRA will invest primarily in a portfolio of equities comprising of large-cap companies in
search for returns against the backdrop of a bullish market. During market uncertainty, TacticalEXTRA shall adopt a
defensive approach towards fixed income exposure to provide capital preservation or to invest tactically. Its key
performance is entirely in search of absolute returns over the medium to long term investment horizon.
The Fund aims to provide investors with medium to long term capital appreciation by investing principally in liquid
equities with large market capitalization (big caps), and fixed income instruments with flexible asset allocation.
INVESTMENT STRATEGY
The fund manager for TacticalEXTRA shall generally adopt an active investment strategy which emphasizes on
to forecast future performance and stock valuation methods. Occasionally, when market trading is skewed towards
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in quoted equity and equity-related securities. A maximum of 30%
of the Fund‟s NAV will be invested in fixed income securities with a minimum credit rating of P3 or BBB3 by RAM or
equivalent rating by other rating agencies. Liquid assets will be maintained at all times at a minimum of 5% of the
Fund‟s NAV.
may hold up to 100% in cash. The fund manager would be expected to re-align the Fund with the principal strategies
when market conditions turn for the better.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM100 and 50% of the Maybank 12months fixed deposit rate. (Source: Lipper)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute (i.e.
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark comprising indices
for the two major asset classes (equity and fixed income) is used to provide investors with a reference point for their
investments.
Over the long term, equity asset allocation would range between 30%-70% of the Fund‟s NAV and fixed income and
cash would range between 30%-70% of the Fund‟s NAV. Therefore, the composite benchmark is a reflection of the
Fund‟s average asset allocation over the long term of 50% of the Fund‟s NAV in equity and 50% of the Fund‟s NAV in
fixed income and cash.
Libra Invest Berhad
Master Prospectus
57
However, as required by the Guidelines, composite benchmark comprising indices for the two major asset classes
(equity and fixed income) is used to provide investors with a reference point for their investments.
inconsistencies with the objective of the Fund, the Fund is permitted by the Deed to invest in the following:
 Securities of Malaysian companies listed on the recognised stock exchange;
 Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
 Futures contracts traded in futures market, for hedging purposes only; and
The investment limits/restrictions for TacticalEXTRA Fund shall be as follows, or any other limits as may be prescribed
by the SC from time to time:
Exposure Limit:
Fund‟s NAV;
Fund‟s NAV;
Libra Invest Berhad
Master Prospectus
58
issue size; and
Libra Invest Berhad
Master Prospectus
59
LCLAF is an open-ended regional unit trust fund, which seeks to offer investors a wider investment universe of quality
growth stocks by investing primarily in those that offer exposure to the consumer and leisure sector in Asia. The Fund
will be a proxy to the growth prospects of this burgeoning sector which is expected to be a major beneficiary of rising
disposable income in the region. In turn, investors will earn potentially attractive returns. The Fund‟s key performance
is to search for positive absolute returns over the medium to long term (3-5 years) investment horizon.
As one of the world‟s most dynamic economic zones, Asia is seeing a rapid expansion of its middle class population
who, in turn, have increasingly more disposable income to spend. Sectors related to consumer consumption and
leisure are expected to be major beneficiaries of this trend and the Fund will target investments in such sectors which
would include gaming, hotels, airlines, retail outlets, restaurant chains, consumer electronics and other supporting
industries.
The Fund seeks to provide capital appreciation over the medium to long term by investing in a diversified portfolio
comprising stocks of companies in Asia which are considered to have strong growth prospects and are able to benefit
from the rising wealth effect of the region‟s middle class population.
INVESTMENT STRATEGY
The fund manager will look for the latest trends and themes reflective of the consumer and leisure focus of the Fund.
This would involve analysis of diverse but relevant sectors and sub-sectors ranging from tourism, hotels, airlines,
gaming, general retail, consumer electronics and premium real estate to the more economically inelastic brewing and
tobacco sectors. This list is not exhaustive and the fund manager believes there are ample areas to invest in within this
theme to enable adequate diversification for different market conditions.
The Fund‟s investment universe will primarily comprise companies with a well-established track record, a strong
business franchise, professionally run management and proven business models that give them a good competitive
edge. Many of these companies will have products and services with brand names that are well known in the region,
and in some cases, recognizable worldwide. The quality of these companies should be reflected in their financial track
record, for example, a history of steady sales growth, firm profit margins, sustained profitability and prudent balance
sheet management.
The fund manager will use an appropriate investment valuation framework to invest in only those that the fund
manager believes the stock price has yet to fully reflect the company‟s growth potential or underlying fair value. This
framework will include techniques such as measuring a company‟s prospective price-to-earnings ratio, price-to-book
ratio or enterprise value per unit against sector and regional peers, or a discounted cash flow valuation model. While
the fund is actively managed, the frequency of its trading strategy will very much depend on market opportunities.
ASSET ALLOCATION
Generally, the Fund will invest at least 70% of it‟s NAV in equity and equity-related securities, while maintaining a
minimum of 50% in non-Malaysian equity (Hong Kong, India, Indonesia, Japan, Korea, Philippines, Singapore, Taiwan,
and Thailand markets). Liquid assets shall be maintained at a minimum of 2% of the Fund‟s NAV and fixed income
securities within Malaysia shall be maintained at a minimum of 10% of the Fund‟s NAV.
Please refer to pages 38-41 for detalied explanation of risk management strategies employed by the fund manager.
In response to adverse economic or market conditions, or when the fund manager anticipates a severe downturn in the
market, the Fund as part of its risk management strategy may increase its cash exposure or hold significantly high
defensive assets, that include short term fixed income securities. This would mean reducing the equity allocation to
levels below 70%. The Fund may, when deemed appropriate, utilize futures contracts but only for hedging and risk
reduction purposes.
Libra Invest Berhad
Master Prospectus
60
The benchmark of the Fund is the MSCI AC Asia Consumer Discretionary Index. The Fund aims for absolute returns.
(Source: www.bloomberg.com)
 Securities of Malaysian companies listed on Bursa Malaysia;
 Securities in foreign markets, which markets are permitted by the relevant authorities from time to time;
 Issues by financial institution such as banker‟s acceptances and negotiable certificates of deposit;
 Liquid assets;
 Futures market and options, for hedging purposes only;
 Units or shares in other collective investment schemes; and
 Any other kind of investment as may be agreed upon by the Management Company and Trustee from time to
time, and permitted by the relevant authority.
The investment limits/restrictions for LCLAF shall be as follows, or any other limits as may be prescribed by the SC
from time to time:
Exposure Limit:
Fund‟s NAV;
Fund‟s NAV;
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC transaction with any single
counter-party must not exceed 10% of the Fund‟s NAV;
OTC derivatives and structured products issued or placed with (as the case may be) any single issuer/ financial
Libra Invest Berhad
Master Prospectus
61
issue size; and
Libra Invest Berhad
Master Prospectus
62
LLF is an open-ended unit trust fund, investing primarily in Ringgit-denominated short term deposits with licensed
financial institutions.
The Fund seeks to preserve capital and maintain a high degree of liquidity while providing steady income with minimal
risk by investing primarily in short term deposits.
INVESTMENT STRATEGY
The Fund shall generally adopt an active investment strategy which will invest up to 100% of its NAV in Ringgitdenominated short term deposits with licensed financial institutions.
ASSET ALLOCATION
The Fund will invest up to 100% of the Fund‟s NAV in Ringgit-denominated short term deposits.
To mitigate financial institution risks, the Fund will diversify its deposit placements with different financial institutions
regulated by BNM.
No temporary defensive positions will be taken as the Fund will not be investing in any securities or fixed income
instruments.
The benchmark of the Fund is the Maybank Overnight Repurchase Agreement (Repo) rates. (Source: Lipper)
 Liquid assets which consist of RM denominated deposits placed with licensed financial institutions; and
 Any other investments as may be permitted by the relevant authorities from time to time.
The investment limits/restrictions for LLF shall be as follows, or any other limits as may prescribed by the SC from time
to time:
Exposure Limits:
▪
The value of the Fund‟s investments in permitted investments must not be less than 90% of the Fund „s NAV;
▪
The value of the Fund‟s investments in permitted investments which have a remaining maturity period of not more
than 365 days must not be less than 90% of the Fund‟s NAV; and
▪
The value of the Fund‟s investments in permitted investments which have a remaining maturity period of more
than 365 days but fewer than 732 days must not exceed 10% of the Fund‟s NAV.
Libra Invest Berhad
Master Prospectus
63
▪
The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV.
Investment in the Fund is not the same as placement in a deposit with a financial institution. There are risks
involved and investors should rely on their own evaluation to assess the merits and risks when investing in
the Fund.
Libra Invest Berhad
Master Prospectus
64
LREF is an open ended global unit trust fund which will invest at least 70% of its NAV in equities and equity-related
securities of companies that are involved in the exploration for and the development, production and marketing
resources products such as energy, minerals, agriculture and related industries globally which are listed on the stock
exchanges of countries listed in the MSCI ACWI (except for the excluded countries mentioned in the investment
strategy of the LREF).
The Fund seeks to achieve capital growth over a medium to long term period by investing primarily in equities and
equity-related securities traded globally. The Fund may also invest in fixed income securities, structured products and
money market instruments.
INVESTMENT STRATEGY
The Fund aims to achieve its investment objective through a diversified investment portfolio of equity and equityrelated securities which are listed on the stock exchanges of countries listed in the MSCI ACWI (except for the
excluded countries mentioned in the investment strategy of the LREF). The fund will invest at least 70% of its NAV in
equities and equity-related securities of companies that are involved in the exploration for and the development,
production and marketing of resources products such as energy, minerals, agriculture and related industries. The Fund
may also invest in other investments depending on the market outlook and economic conditions.
The Manager will employ a multi-step investment process, combining a bottom-up investment analysis of companies
with top-down macro-analysis asset allocation at country and sector levels. Sector allocation is derived after analyzing
macroeconomic trends and country dynamics. The Manager believes that investment performance can be achieved by
employing a rigorous research process that enables them to identify sound and profitable companies that generate
excess return above the MSCI ACWI, being the benchmark‟s return as well as by identifying companies that are
undervalued.
An active investment strategy which emphasises on appropriate asset allocation, for different market conditions to
enhance risk-adjusted returns through riding market cycles, situational opportunities, value emergence and trend
reversal plays will be adopted.
As of 10 February 2016, the countries within the MSCI ACWI consist of the following:



Australia
Austria
Belgium



Egypt
Finland
France



Israel
Italy
Japan



Philippines
Poland
Portugal



Switzerland
Taiwan
Thailand



Brazil
Canada
Chile



Germany
Greece
Hong Kong



Korea
Malaysia
Mexico



Qatar
Russia
Saudi Arabia

Turkey

United Arab
Emirates



China
Colombia
Czech Republic



Hungary
India
Indonesia



Netherlands
New Zealand
Norway



Singapore
South Africa
Spain

United Kingdom

United States of
America

Denmark

Ireland

Peru

Sweden
Source :- www.msci.com
This list of countries may be reviewed by MSCI from time to time.
For the avoidance of doubt, the Manager may invest in all the countries mentioned above except Egypt, Israel, Turkey,
Colombia, Mexico, Peru and Chile. While the fund is actively managed, the frequency of its trading strategy will very much
In addition to equity and equity-related securities, the other types of investments that the Fund may, amongst others,
invest in are fixed income securities and structured products. Structured products are securities that combine the
characteristics of traditional investments (such as stocks and bonds) or non-traditional investments (such as foreign
exchanges) with financial instruments (such as options, futures contracts and swap agreements).
Libra Invest Berhad
Master Prospectus
65
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities of companies engaged in the
exploration for and the development, production and marketing of resources products such as energy, minerals,
agriculture and related industries globally which are listed on the stock exchange of countries listed in the MSCI ACWI
(except for the excluded countries mentioned above in the investment strategy of the Fund). The Fund may invest a
maximum of 28% of the Fund‟s NAV in fixed income securities and a maximum of 15% of the Fund‟s NAV in structured
products. Cash or liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
An internal allocation for cash and other liquid assets will be maintained to ensure that the Fund is able to meet
repurchase requests without jeopardising the Fund‟s performance. However, this does not preclude the Manager (after
consultation with Trustee) from lowering or raising the liquid assets level beyond the stipulated level to allow the
Manager to react to the prevailing market conditions and to manage investment risk when circumstances warrants it.
The benchmark of the Fund is MSCI ACWI.
Unit holders may refer to www.bloomberg.com and www.reuters.com to obtain the performance benchmark.
Please refer to pages 38-41 for detalied explanation of risk management strategies employed by the Manager.
During adverse market conditions, or when the Manager anticipates a downturn in market conditions, the Fund may
hold up to 100% in liquid assets, which are defensive in nature. The Manager would be expected to re-align the Fund
with principal strategies when market conditions turn for the better.









Securities traded on the Bursa Malaysia or any other market considered as an Eligible Market;
Securities not listed in or traded under the rules of an Eligible Market (“Unlisted Securities”);
Fixed income securities;
Money market instruments;
Structured products;
Derivatives instruments in Malaysia or any country globally include futures contracts traded in futures market, for
hedging purposes only;
Securities or instruments listed or traded on foreign markets where the regulatory authority is a member of the
International Organization of Securities Commissions (IOSCO);
Cash/Liquid assets; and
Any other form of investments permitted by the SC which are in line with the Fund‟s objective.
The investment limits/restrictions for LREF are as follows, or any other limits as may be prescribed by the SC from time
to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are:
(a) Equities not listed or quoted on a stock exchange but have been approved by the relevant regulatory authority
for such listing and quotation, and are offered directly to the Fund by the issuer; and
(b) Structured products.
Libra Invest Berhad
Master Prospectus
66
Fund‟s NAV;
Fund‟s NAV;
 For investments in derivatives:
- the exposure to the underlying assets must not exceed the the investment spread limits stipulated in the
Guidelines;
- the Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times.
of the Fund‟s NAV. The single counter-party limit may be exceeded if the counter-party has a minimum long term
rating that indicates very strong capacity for timely payment of financial obligations provided by any domestic or
global rating agency and the structured product has a capital protection feature;
 The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits and
structures products issued by or placed with (as the case may be) any single issuer/financial institution must not
exceed 25% of the Fund‟s NAV; and
 The value of the Fund‟s investments in transferable securities and money markets instruments issued by any
group of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer and;
issue size.
The investment limits or restrictions mentioned herein shall be complied with at all times based on the most up-to-date
value of the Fund‟s investments.
Libra Invest Berhad
Master Prospectus
67
SyariahEXTRA Fund is an open-ended unit trust fund investing in a blend of quoted Shariah-compliant equities, sukuk
and other Islamic money market instruments and Shariah-compliant derivatives (financial instruments that have no
intrinsic value, but derive their value from an underlying instrument such as indices and share prices. The Islamic
financial derivatives are used to manage one‟s exposure to unexpected price fluctuations in the Shariah-compliant
equity and sukuk markets), which have been approved by SACSC and/or the Shariah Adviser. Its key performance is
entirely in search of consistent absolute returns over the medium to long term investment horizon.
Background Information
The Fund was initially named the Abrar Investment Fund. It was formally renamed as the SyariahEXTRA Fund with the
registration of the Second Supplemental Deed with the Securities Commission Malaysia on 3 October 2002. It was first
offered to the public on 12 March 1996 as an open-ended Shariah-compliant unit trust fund, seeking to provide
investors with medium to long term capital growth, and adequate level of regular income by investing in a diversified
portfolio of Shariah-compliant equities and equity-related securities and sukuk. On 9 August 2002, pursuant to the
removal of the previous management company, Maybank Trustees Berhad (formerly known as Mayban Trustees
Berhad) appointed Libra Invest Berhad to act as the management company for Abrar Investment Fund and on 4
September 2002, the Unit Holders‟ approval was obtained in a Unit Holders‟ meeting to change the investment
objective of the Fund. The first prospectus for SyariahEXTRA Fund under the management of Libra Invest Berhad was
dated 6 November 2002.
The Fund aims to provide investors with medium to long term capital appreciation through investments in specified
asset classes by adopting a relatively balanced approach towards equities and fixed income exposure based on the
Shariah principles. The Fund aims to achieve capital growth with lower short term volatility than is normally associated
with a pure equity fund.
SHARIAH ADVISER
The Shariah Adviser for this Fund is IBFIM. Please refer to page 131 for details of their roles and responsibilities.
INVESTMENT STRATEGY
The fund manager for SyariahEXTRA shall generally adopt an active investment strategy which emphasises on
cycles, situational opportunities, value emergence and trend reversal plays; and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of Shariah-compliant stocks that the fund manager
believes should perform well under an anticipated economic condition. Individual Shariah-compliant stock selection will
then focus on well-managed, financially sound companies with attractive relative valuations and potential for high
earnings growth over the medium to long term time frame. The analysis includes ratio analysis on the financial
performance of companies, trend analysis to forecast future performance, and stock valuation methods. Occasionally,
when market trading is skewed towards index-linked large capitalized Shariah-compliant stocks, the Fund will attempt
to track the performance of the FBM EMAS Shariah Index by adjusting its portfolio composition accordingly. While the
fund is actively managed, the frequency of its trading strategy will very much depend on market opportunities.
ASSET ALLOCATION
The Fund will invest between 40% to 60% of its NAV in quoted Shariah-compliant equities and Shariah-compliant
equity-related securities. The Fund will also invest between 40% to 60% of its NAV in sukuk with a minimum credit
rating of P3 or BBB3 by RAM or equivalent rating by other rating agencies and Islamic liquid assets. Islamic liquid
assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
Libra Invest Berhad
Master Prospectus
68
may hold significantly higher amount of Islamic liquid and defensive assets (including sukuk with different maturity
dates) than that prescribed by their respective mandates. The fund manager would be expected to re-align the Fund
with the principal strategies when market conditions turn for the better.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM EMAS Shariah Index and 50% of
the Maybank 12-months GIA-i rate. (Source: Lipper)
The Fund has a flexible asset allocation between Shariah-compliant equities and sukuk with a bias for absolute (i.e.
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark indices for the two
major asset classes (Shariah-compliant equity and sukuk) is used to provide investors with a reference point for their
investments.
Over the long term, Shariah-compliant equity asset allocation would range between 40% – 60% of the Fund‟s NAV,
and sukuk and cash would range between 40% – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
reflection of the Fund‟s average asset allocation over the long term of 50% of the Fund‟s NAV in Shariah-compliant
equity and 50% of the Fund‟s NAV in sukuk and cash.
Fund seeks to deliver positive returns independent of how the sukuk, cash and Shariah-compliant equity market
perform. The fund manager focuses on achieving positive returns, even in a downtrend market, rather than beating the
benchmark.
 Shariah-compliant securities of Malaysian companies listed on the recognised stock exchange;
 Units of unrelated Shariah-compliant property trust funds listed on Bursa Malaysia;
 Unlisted Shariah-compliant securities that are not traded in or under the rules of an eligible market;
 Government and semi-government sukuk, investment accounts, and Islamic money market instruments;
 Cagamas sukuk, sukuk which are either bank-guaranteed or carrying at least a BBB3 rating by RAM or equivalent
rating by other rating agencies;
 Government Investment Issues, Islamic accepted bills, Malaysian currency balances in hand and Islamic deposits
(Malaysian currency) with licensed financial institutions;
 Islamic futures contracts traded on an exchange approved for hedging purposes only;
 In conformity with Shariah requirements the securities of companies engages in the following activities or
producing the following categories of products shall not be included in the Fund- conventional banking, insurance
and financial services; gambling; alcohol beverages; non-halal foods; interest bearing money market instruments;
and any further restrictions as may be determined by the relevant authorities;and
 Any other kind of Shariah-compliant investment or Shariah-compliant investments as permitted by the relevant
authorities from time to time.
In conformity with Shariah requirements, the securities of companies engaged in the following activities or producing
the following categories of products shall not be included in the Fund – conventional banking, insurance and financial
services; gambling; alcoholic beverages; non-halal foods; interest bearing money market instruments; and any further
restrictions as may be determined by the SACSC and/or the Shariah Adviser from time to time. In addition, the Fund
will only invest in sukuk.
The investment limits/restrictions for SyariahEXTRA shall be as follows, or any other limits as may be prescribed by
the SC from time to time:
Libra Invest Berhad
Master Prospectus
69
Exposure Limit:

The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the Fund‟s
NAV.

The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are Shariah-compliant equities not listed or quoted on a stock exchange but have been approved
by the relevant regulatory authority for such listing and quotation, and are offered directly to the Fund by the
issuer and sukuk traded on an organized OTC market.
 The value of the Fund‟s investments in ordinary Shariah-compliant shares issued by any single issuer must not
exceed 10% of the Fund‟s NAV;
 The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any single issuer must not exceed 15% of the Fund‟s NAV;
 The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed 20% of
the Fund‟s NAV;
 The Fund‟s exposure from its Shariah-compliant derivatives position should not exceed the Fund‟s NAV at all
times;
 For investments in Shariah-compliant derivatives, the exposure to the underlying assets of that Shariah-compliant
derivative must not exceed the investment spread limits stipulated in the Guidelines and the value of the Fund‟s
OTC Shariah-compliant derivative transaction with any single counter-party must not exceed 10% of the Fund‟s
NAV;
 The value of the Fund‟s investments in Islamic structured products issued by a single counter-party must not
 The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money market
instruments, Islamic deposits, OTC Shariah-compliant derivatives and Islamic structured products issued by or
placed with (as the case may be) any single issuer/institution must not exceed 25% of the Fund‟s NAV;
 The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme must
not exceed 20% of the Fund‟s NAV; and
 The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any group of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in transferable Shariah-compliant securities (other than sukuk) must not exceed 10% of
the Shariah-compliant securities issued by any single issuer;
 The Fund‟s investments in sukuk must not exceed 20% of the sukuk issued by any single issuer;
 The Fund‟s investments in Islamic money market instruments must not exceed 10% of the instruments issued by
any single issuer. However, the limit does not apply to Islamic money market instruments that do not have a predetermined issue size; and
 The Fund‟s investments in Shariah-compliant collective investment schemes must not exceed 25% of the
units/shares in any one of the Shariah-compliant collective investment scheme.
Libra Invest Berhad
Master Prospectus
70
ASnita is an open-ended unit trust fund, investing principally in quoted Shariah-compliant equity and equity-related
securities.
Background Information
ASnita was established in 1998 to help women enhance their role in society through greater participation in the
economic life of the nation. This will be achieved primarily by facilitating the development of Malaysian women as
informed savers and investors who have a high degree of financial independence. ASnita was originally established
pursuant to a Deed of Trust dated 30 April 1998 entered between Metrowangsa Unit Trusts Berhad as the
management company and Maybank Trustees Berhad (formerly known as Mayban Trustees Berhad) as the Trustee of
the Fund. In May 2003, pursuant to the removal of the previous management company, Libra Invest Berhad was
appointed by Mayban Trustees Berhad to act as the management company for ASnita. The first prospectus for ASnita
under the management of LIB was dated 1 July 2004.
The primary objective of the Fund is to offer relatively good and safe capital growth over the long term period by
investing principally in an actively-managed, diversified portfolio of Shariah-compliant equities and equity-related
securities.
SHARIAH ADVISER
INVESTMENT STRATEGY
The fund manager for ASnita shall generally adopt an active investment strategy which emphasises on appropriate
asset allocation, for different market conditions to enhance risk-adjusted returns through riding market cycles,
situational opportunities, value emergence and trend reversal plays and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of Shariah-compliant stocks that the fund manager
believes should perform well under an anticipated economic condition. Individual Shariah-compliant stock selection will
then focus on well-managed, financially sound companies with attractive relative valuations and potential for high
earnings growth over the medium to long term time frame. The analysis includes ratio analysis on the financial
performance of companies, trend analysis to forecast future performance, and stock valuation methods. Occasionally,
when market trading is skewed towards index-linked large capitalized Shariah-compliant stocks, the Fund will attempt
to track the performance of the FBM EMAS Shariah Index by adjusting its portfolio composition accordingly. While the
fund is actively managed, the frequency of its trading strategy will very much depend on market opportunities.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in quoted Shariah-compliant equities and equity-related securities.
Islamic liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
Libra Invest Berhad
Master Prospectus
71
The benchmark of the Fund is the FBM EMAS Shariah Index. (Source: Lipper)

Ordinary Shariah-compliant shares and other quoted Shariah-compliant equity-related securities such as
convertible Shariah-compliant securities, Shariah-compliant preference shares, Shariah-compliant warrants listed
on Bursa Malaysia or traded in or under the rules of other recognised stock exchange in Malaysia or foreign
markets permitted by the relevant authorities;

units or shares in other Shariah-compliant collective investment schemes;

sukuk as well as short term Islamic money market instruments and any other kinds of Shariah-compliant
investments as agreed by the Management Company and Trustee, from time to time;

Islamic futures contract traded in futures market of an exchange approved under the Act, provided that the
participation is for hedging purposes only;

In conformity with Shariah requirements the securities of companies engages in the following activities or
producing the following categories of products shall not be included in the Fund- conventional banking, insurance
and financial services; gambling; alcohol beverages; non-halal foods; interest bearing money market instruments;
and any further restrictions as may be determined by the relevant authorities;and

Any other kind of Shariah-compliant investment or Shariah-compliant investments as permitted by the relevant
authorities from time to time.
restrictions as may be determined by the relevant authorities. In addition, the Fund will only invest in stocks that are
classified as Shariah-compliant by SACSC or sukuk.
The investment limits/restrictions for ASnita shall be as follows, or any other limits as may be prescribed by the SC
from time to time:
Exposure Limit:

The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the Fund‟s
NAV.

The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are Shariah-compliant equities not listed or quoted on a stock exchange but have been approved
by the relevant regulatory authority for such listing and quotation, and are offered directly to the Fund by the
issuer.

The value of the Fund‟s investments in Shariah-compliant ordinary shares issued by any single issuer must not

The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any single issuer must not exceed 15% of the Fund‟s NAV;

The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed 20% of
the Fund‟s NAV;

The Fund‟s exposure from its Shariah-compliant derivatives position should not exceed the Fund‟s NAV at all
times;
Libra Invest Berhad
Master Prospectus




72
For investments in Shariah-compliant derivatives, the exposure to the underlying assets of that Shariah-compliant
derivative must not exceed the investment spread limits stipulated in the Guidelines and the value of the Fund‟s
OTC Shariah-compliant derivative transaction with any single counter-party must not exceed 10% of the Fund‟s
NAV;
The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money
market instruments, Islamic deposits, OTC Shariah-compliant derivatives and Islamic structured products issued
by or placed with (as the case may be) any single issuer / financial institution must not exceed 25% of the Fund‟s
NAV;
The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme must
The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any group of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in transferable Shariah-compliant securities (other than sukuk) must not exceed 10% of
the Shariah-compliant securities issued by any single issuer;
Libra Invest Berhad
Master Prospectus
73
ASnitaBOND Fund is an open-ended unit trust fund, investing principally in a portfolio comprising highly liquid, near
cash instruments as well as short to medium term sukuk. The Fund expects to maintain a weighted average portfolio
maturity appropriate to its stated investment objective. Under normal circumstances, the weighted average term to
maturity of the investments is expected to be approximately 2 to 5 years.
The Fund aims to provide capital preservation with regular income over the short to medium term period by investing in
Islamic money market instruments and sukuk.
SHARIAH ADVISER
INVESTMENT STRATEGY
The Fund will adopt an investment strategy which will provide returns comparable to that of short term Islamic money
market deposits, and which will at the same time, preserve the Fund‟s principal value and maintain a high degree of
liquidity.
With respect to sukuk, the fund manager will focus on consistent, above-average returns from fundamental research
rather than from frequent trading. The frequency of its trading strategy will depend on market opportunities. Emphasis
is placed on credit-worthiness, investment-grade issuers of sukuk. A disciplined application of the top-down investment
process is therefore applied, with due consideration given to the credit standing of individual issuers. The fund
manager will seek to diversify the investments of the Fund across sectors and individual sukuk in order to minimise the
risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in sukuk. Cash, Islamic deposits and other Islamic liquid assets will
be maintained at all times at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Maybank 6-months GIA-i Tier 1 Rate. (Source: Lipper)
Investment in the Fund is not the same as placement in a deposit with a financial institution. The capital and returns of
the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not reflect that of a
general investment account.
Libra Invest Berhad
Master Prospectus
74






Government and semi-government sukuk, General Investment Accounts, Special Investment Account, Islamic
money market instruments, private sukuk, Islamic treasury products listed on the Bursa Malaysia;
Islamic instruments issued by bank and financial institutions issued instruments;
Government Investment Issues, Islamic Accepted Bills, Malaysia currency balances in hand and Islamic deposits
(Malaysian currency) with authorised financial institutions including investment certificates;
Cagamas sukuk, sukuk which are either bank-guaranteed or carrying at least a BBB3 rating by RAM or equivalent
rating by other rating agencies;
Islamic futures contracts traded on an exchange approved under the Act provided that, the participation is for
hedging purposes and is approved by the Shariah Adviser; and
Any other kind of Shariah-compliant investments in Malaysia and outside Malaysia as agreed upon by the
Management Company and Trustee.
restrictions as may be determined by the SASCS and/or Shariah Adviser from time to time. In addition, the Fund will
only invest in sukuk.
The investment limits/restrictions for ASnitaBOND shall be as follows, or any other limits as may be prescribed by the
SC from time to time:
Exposure Limit:
 The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the Fund‟s
NAV.
 The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are sukuk traded on an organized OTC market.
 The value of the Fund‟s investments in sukuk issued by any single issuer must not exceed 20% of the Fund‟s
NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the sukuk are rated by any domestic or
global rating agency to be of the best quality and offer highest safety for timely payment of profit and principal;
 The value of the Fund‟s investments in sukuk issued by any one group of companies must not exceed 30% of the
Fund‟s NAV;
 The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed 20% of
the Fund‟s NAV;
 The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money market
instruments, Islamic deposits and Islamic structured products issued by or placed with (as the case may be) any
single issuer / financial institution must not exceed 25% of the Fund‟s NAV. However, the aggregate value of the
Fund‟s investment must not exceed 30% of the Fund‟s NAV where the single issuer limit is increased to 30% of
the Fund‟s NAV if the sukuk are rated by any domestic or global rating agency to be of the best quality and offer
highest safety for timely payment of profit and principal;
 The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme must
 No maximum limit is imposed if the issuer is the Malaysian government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions.
Libra Invest Berhad
Master Prospectus
75
The Libra Shariah Liquidity Fund Series 2 is an open-ended unit trust fund investing in Ringgit-denominated short term
Islamic deposits with Financial Institutions.
The Fund seeks to preserve capital¹ while providing steady income² by investing in short term Islamic deposits.
Note:
¹ Unit Holders are to note that this is not a capital guaranteed Fund. Unit Holders’ capital is neither guaranteed nor protected.
² All income distribution will be automatically reinvested into additional Units.
SHARIAH ADVISER
INVESTMENT STRATEGY
The Fund will invest 100% of its NAV in Ringgit-denominated short term Islamic deposits with Financial Institutions.
The Manager shall adopt an active investment strategy by monitoring short term profit rates offered by Financial
Institutions on a daily basis. The Manager seeks to maximize the Fund‟s returns by actively sourcing for and
subsequently investing in short term Islamic deposits that offer the highest profit rates available.
Note:
1.
The Fund’s investment in Islamic deposits may be lower than 100% to allow for payments of fees and expenses as
permitted under the Deed.
2.
The Fund does not have a minimum rating requirement for the Financial Institutions that it invests short term Islamic
deposits with.
ASSET ALLOCATION
The Fund‟s asset allocation is as follows:
Asset Class
% of the Fund’s NAV
Short term Islamic deposits
100%
Note:
The Fund’s investment in Islamic deposits may be lower than 100% to allow for payments of fees and expenses as permitted
under the Fund.
No temporary defensive position will be taken as the Fund will only invest in Islamic deposits.
Maybank 1-month GIA-i Tier 1 Rate (Source: www.maybank2u.com.my).
Libra Invest Berhad
Master Prospectus
76
PERMITTED INVESTMENT

Malaysian Ringgit denominated Islamic deposits placed with financial institutions.
The investment restrictions of the Fund are as follows:



The value of the Fund‟s investments in permitted investment which have a maturity period of not more than
365 days must not be less than 90% of the Fund‟s NAV;
The value of the Fund‟s investments in permitted investment which have a maturity period of more than 365
days but fewer than 732 days must not exceed 10% of the Fund‟s NAV; and
The value of the Fund‟s placements in Islamic deposits with any single Financial Institution must not exceed
20% of the Fund‟s NAV.
Investment in the Fund is not the same as placement in a deposit with a financial institution. There are risks
involved and investors should rely on their own evaluation to assess the merits and risks when investing in
the Fund.
Libra Invest Berhad
Master Prospectus
77
7. ADDITIONAL INFORMATION IN RELATION TO THE FUNDS
Policy on Application of Investment Restrictions of the Funds
IncomeEXTRA, EquityEXTRA, BondEXTRA, MoneyEXTRA, VersatileEXTRA, DividendEXTRA, TacticalEXTRA,
LCLAF, LLF, LREF, SyariahEXTRA, ASnita, ASnitaBOND and LSLF Series 2.
Any entitlement accruing on the investment held may be excluded when determining compliance with the investment
restrictions. However, the entitlement should not be exercised if the exercise results in the breach of any restrictions
specified. Nevertheless, the right of convertibility may be exercised even if it results in the breach of the restrictions,
provided there are justifiable reasons and prior approval of the Trustee has been obtained, and the Management
Company takes all necessary steps and actions to rectify the breach within a reasonable time of not more than one (1)
month from the date of the breach.
A 5% allowance in excess of any limit or restriction may be permitted, where the breach occurred through an
appreciation or depreciation of the NAV of the Fund, whether as a result of an appreciation or depreciation in the value
of the investments, or as a result of repurchase of units or payment made by the Fund. The Management Company
should not make any further acquisitions and will take necessary steps and actions to rectify the breach within a
reasonable period of not more than three (3) months from the date of the breach. Such limits and restrictions, however,
do not apply to securities that are issued or guaranteed by the government of Malaysia or BNM.
As the minimum liquid assets level for the Fund is specified to ensure sufficient short term liquidity in the Fund to meet
operating expenses and possible redemption of the Fund‟s units, where the level of liquid assets for the Fund drop
below the minimum level specified, the Management Company will take all necessary steps and actions to meet the
minimum level specified within ten (10) calendar days. If a longer period is required, such period shall be determined
by the Management Company after consultation with the Trustee.
Liquid assets of the Fund may be held in the form of cash, net creation/cancellation, net amount receivable/(payable)
from the brokers/dealers, deposits with licensed institutions and/or other institutions licensed or approved to accept
deposits and any other instruments, including short term commercial papers, which are convertible into cash within
seven (7) days as may be approved by the Trustee. Liquid assets of SyariahEXTRA, ASnita, ASnitaBOND and LSLF
Series 2 must comply with Shariah requirements.
Libra Invest Berhad
Master Prospectus
78
Valuation of Assets
The Management Company will ensure that all the assets of the respective Funds are valued at fair value and at all
times be in compliance with Schedule B of the Guidelines.

Quoted securities and suspended securities
Investments in quoted securities will be valued based on the last done prices as at the close of the Business Day of
the respective markets on the same calendar day. In the event of a suspension in the quotation of the securities for a
period exceeding 14 days, or such shorter period as agreed by the Trustee, or when the market price is not reflective
of the fair value of the securities due to abnormal market situation, then the securities should be valued at fair value, as
determined in good faith by the Management Company based on methods or bases approved by the Trustee after
appropriate technical consultation.

Unquoted fixed income securities/sukuk
Unquoted fixed income securities/sukuk are measured at fair values. The fair values of unquoted fixed income
securities/sukuk are generally obtained from the indicative market yields quoted by a bond pricing agency registered
with the SC. However, where the fund manager is of the opinion that the value of the fixed income securities/sukuk
differs from the indicative yields quoted by the bond pricing agency by more than 20 basis points, the fund manager
will value the securities based on a pricing model that reflects the prevailing market conditions provided it complies
with the requirement in the Guidelines.

Quoted securities dividends
Dividends from quoted securities are recognised on the ex-dividend date.

Derivatives
Derivative instruments are marked-to-market on a daily basis. Any changes in the value of the contracts are adjusted
for directly in the margin accounts, with a corresponding recognition in the unrealized reserves.

Collective investment schemes
Investments in collective investment schemes will be valued, based on the last published NAV per Unit or if
unavailable, other appropriate method as determined by the Management Company and approved by the Trustee.

Deposits
Valuation for investment in deposits is based on a fixed rate with interest/profit accrued on a daily basis.

Structured products
The valuation of structured products is marked-to-market on a daily basis using valuation prices quoted by the
structured products provider.

Money market instruments
Valuation of money market instruments shall be done on a daily basis using accretion method of the discount rate or
yield to maturity at which the instruments were purchased.
Valuation Point for the Funds
The valuation of NAV of Funds with no foreign investments is calculated at the end of each Business Day. In the case
of Funds with investments in foreign markets, the valuation time may be extended to 10.00 a.m. local time of the next
Business Day (T+1 day) due to the different time zones of foreign markets. Consequently, the daily NAV of Funds with
foreign investments may be published two (2) Business Days later instead of the next Business Day. The foreign
exchange rate used for valuation of foreign investment is based on bid rate obtained from Reuters or Bloomberg at
U.K. time 4.00 p.m. the same day. Unit Holders may contact the Management Company or visit our website at
www.librainvest.com to obtain the latest NAV of the Funds.
Libra Invest Berhad
Master Prospectus
79
8. SHARIAH INVESTMENT GUIDELINES
Shariah Investment Guidelines adopted by IBFIM, Cleansing Process and Zakat (tithe) for the Fund
1.
Shariah Investment Guidelines
The following matters are adopted by IBFIM in determining the Shariah status of investments of the Fund.
INVESTMENT IN MALAYSIA
Equity:
Reference for investment in local securities is based on the list of Shariah-compliant securities issued by the SACSC
twice yearly on the last Friday of May and November which is readily available at the SC‟s website.
However, for Initial Public Offering (“IPO”) companies that have yet to be determined the Shariah status by the
SACSC, IBFIM adopts the following analysis as a temporary measure in determining its Shariah status until the
SACSC releases the Shariah status of the respective companies.

Core Business Activities Analysis
Companies whose activities are not contrary to the Shariah will be classified as Shariah-compliant securities. On
the other hand, companies will be classified as Shariah non-compliant if they are involved in the following core
business activities:
a) Conventional financial services;
b) Gambling and gaming;
c) Manufacture or sale of non-halal products or related products (e.g. pork and liquor);
d) Manufacture or sale of tobacco-based products or related products;
e) Pornography;
f) Weaponry;
g) Entertainment activities that are not permitted by the Shariah; and
h) Other activities considered non-permissible according to the Shariah.

Mixed Business Activities Analysis
For companies with activities comprising both permissible and non-permissible elements, IBFIM applies two
analyses before they can be classified as Shariah-compliant. The analyses are as follows:
i)
Qualitative Analysis
In this analysis, IBFIM will look into aspects of general public perception of the companies‟ images, core
businesses which are considered important and maslahah (beneficial) to the Muslim ummah and the country, the
non-permissible elements are very small and involve matters like umum balwa (common plight and difficult to
avoid), ‘uruf (custom) and rights of the non-Muslim community which are accepted by the Shariah.
ii)
Quantitative Analysis
Companies which passed the above qualitative analysis will be further subjected to quantitative analysis. IBFIM
deduces the following to ensure that they are lower than the Shariah tolerable benchmarks:
a)
Business Activity Benchmarks
The 5% benchmark would be applicable to the following business activities:



Conventional banking;
Conventional insurance;
Gambling;
Libra Invest Berhad
Master Prospectus








80
Liquor and liquor-related activities;
Pork and pork-related activities;
Non-halal food and beverages;
Shariah non-compliant entertainment;
Interest income1 from conventional accounts and instruments (including interest income awarded arising
from a court judgement or arbitrator);
Dividends2 from Shariah non-compliant investments;
Tobacco and tobacco-related activities; and
Other activities considered non-compliant according to Shariah.
The 20% benchmark would be applicable to the following activities:





Hotel and resort operations;
Share trading;
Stockbroking business;
Rental received from Shariah non-compliant activities; and
Other activities considered non-compliant according to Shariah.
The contribution of Shariah non-compliant activities to the overall revenue/sales/turnover/income and profit
before tax of the companies will be calculated and compared against the relevant business activity
benchmarks.
Note:
1
Interest income will be compared against the companies‟ overall revenue/sales/turnover/income.
2
Dividends will be compared against the companies‟ profit before taxation.
b)
Financial Ratio Benchmarks
The financial ratios applied are as follows:

Cash over Total Assets
Cash will only include cash placed in conventional accounts and instruments, whereas cash placed in
Islamic accounts and instruments will be excluded from the calculation.

Debt over Total Assets
Debt will only include interest-bearing debt whereas Islamic debt/financing or sukuk will be excluded from
the calculation.
Both ratios, which are intended to measure riba and riba-based elements within a companies‟ balance sheet,
must be lower than 33%.
Should any of the above deductions fail to meet the benchmarks, IBFIM will not accord Shariah-compliant status
for the companies.
Sukuk and Islamic Money Market Instruments:
IBFIM will verify any sukuk and/or Islamic money market instruments based on the data available at Bond Info Hub
(www.bondinfo.bnm.gov.my) and Fully Automated System For Issuing/Tendering (https://fast.bnm.gov.my).
Libra Invest Berhad
Master Prospectus
2.
81
Cleansing Process for the Fund
a)
Wrong Investment
This refers to Shariah non-compliant investment made by the fund manager. The said investment will be
disposed of/withdrawn with immediate effect. In the event of the investment resulted in gain (through capital
gain and/or dividend/profit), the gain is to be channelled to Baitul Mal or any other charitable bodies as
advised by the Shariah Adviser. If the disposal of the investment resulted in losses to the Fund, the losses
are to be borne by the Fund Manager.
b)
Reclassification of Shariah Status of the Fund’s Investment
Reclassification of Shariah status refers to security which is reclassified as Shariah non-compliant by the
SACSC, the Shariah Adviser or the Shariah Boards of the relevant Islamic Indices. The said security will be
disposed soonest practical, once the total amount of dividends received and the market value of the Shariah
non-compliant security held equal the original investment cost.
Any capital gains arising from the disposal of the Shariah non-compliant security made at the time of the
announcement can be kept by the Fund. However, any excess capital gains derived from the disposal after
the announcement day at a market price that is higher than the closing price on the announcement day is to
be channelled to Baitul Mal or any charitable bodies as advised by the Shariah Adviser.
3.
Zakat (tithe) for the Fund
The Fund does not pay zakat on behalf of Muslim individuals and Islamic legal entities who are investors of the
Fund. Thus, investors are advised to pay zakat on their own.
Libra Invest Berhad
Master Prospectus
82
9. FUNDS PERFORMANCE
Average Total Returns (%)*
3 years
5 years
23.97
62.56
1 year
7.88
IncomeEXTRA
(Inception date: 10 Sept 1999)
Benchmark: (Note 1)
Maybank 6-months
fixed deposit rate and
IE benchmark
5.94
17.35
28.13
10 years
38.44
44.47
For the year 2015, the Fund registered a
positive return of 7.88%, outperforming the
benchmark return of 5.94%. For 2016, we
maintain our cautious stance and would
continue to hold high cash positions given
the uncertainties in the market. The Fund
would continue to invest in equities that offer
high dividend yields as well as selected
picks of fundamentally undervalued stocks.
* The average total returns of the above Fund for the respective financial years are calculated based on NAV to NAV.
IncomeEXTRA
Benchmark: (Note 1)
Maybank 6-months
fixed deposit rate and
IE benchmark
2006
2007
2008
Annual Total Returns (%)**
2009
2010
2011
2012
2013
2014
2015
4.51
4.28
-5.06
3.80
-20.72
16.07
12.98
-0.33
15.30
7.88
3.47
3.45
3.42
2.25
2.54
2.99
8.83
5.53
4.96
5.94
Source: Lipper
** The average total returns of the above Fund for the respective financial years are calculated based on NAV to NAV.
Note 1: Effective 16 August 2011, the Fund has adopted a new mandate and is now classified as a balanced fund,
where the new benchmark is IE Benchmark (50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months fixed
deposit rate). Where applicable, the Benchmark returns are the time-weighted average returns of Maybank 6-months
fixed deposit rate and IE Benchmark.
Libra Invest Berhad
Master Prospectus
83
1 year
-6.43
EquityEXTRA
Benchmark:
FBM 100
-2.89
3 years
5 years
20.06
32.96
1.49
13.38
10 years
122.77
96.00
For the year 2015, the Fund posted a loss of
6.43%, underperforming the FBM100
benchmark, which posted a negative return
of 2.89% for the same year. This was mainly
due to the heightened volatility and sell
down in the domestic market caused by
plunging oil prices and huge foreign fund
outflow. For 2016, we will continue to remain
cautious and maintain a high cash position
given the uncertainties of the market. The
Fund will continue to invest in domestic
companies with strong balance sheet and
resilient earnings.
* The average total returns of the above Fund for the respective financial years are calculated based on NAV to
NAV.
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
EquityEXTRA
23.80
Benchmark:
FBM 100
21.83
27.18
-29.89
30.44
16.35
1.40
9.22
20.77
6.25
-6.43
31.82
-39.33
45.71
21.76
1.94
9.60
11.39
-6.17
-2.89
Source: Lipper
** Annual total returns of the above Fund represents annualized returns over the specified period assuming
reinvestment of all distributions.
Libra Invest Berhad
Master Prospectus
84
3 years
5 years
12.30
34.22
1 year
5.21
BondEXTRA
(Inception date: 8 Oct 2002)
Benchmark:
Maybank 12-months
fixed deposit rate
3.30
9.96
16.86
10 years
55.28
37.50
For the year 2015, the Fund delivered
outstanding returns of 5.21%, significantly
outperforming its benchmark, the 12-month
Maybank Fixed Deposit returns of 3.30%.
The remarkable performance was due to
gains from existing investment holdings,
bond recoveries, and further boosted by
capital appreciation from new investments of
carefully selected high grade bonds, which
benefited from positive movements in
government and corporate bond markets.
New investments are made after thorough
analysis on domestic and global economic
environment, market trends and regional
fund flows.
Moving forward, the Fund will continue to
give strong emphasis on bond issuers‟ credit
strength focusing on cash flow consistency,
stringent
structure
and
experienced
management teams. The Fund is invested in
higher yielding fixed income securities in
order to provide aggressive long term capital
growth. The Fund is expected to continue to
benefit from capital appreciation of its bond
portfolio, interest income from the coupon
attached to the debt instruments and the
positively
sloped
yield
curve
that
commensurate with its duration and risk
profile.
The Fund achieved its investment objective
of providing aggressive long term capital
growth.
NAV.
BondEXTRA
Benchmark:
Maybank 12-months
fixed deposit rate
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
5.23
4.98
-3.20
9.38
-1.08
12.19
6.53
1.07
5.61
5.21
3.80
3.70
3.68
2.62
2.74
3.03
3.15
3.15
3.20
3.30
Source: Lipper
Libra Invest Berhad
Master Prospectus
85
3 years
5 years
11.05
18.53
1 year
3.93
MoneyEXTRA
Benchmark:
Average repurchase
agreement (Repo)
rate
3.29
9.79
16.35
10 years
40.06
34.31
In 2015, the Fund continues to produce
remarkable returns, outperforming its
benchmark with returns of 3.93% against
the benchmark Repo return of 3.29%. The
Fund‟s return was derived from its holdings
in short term commercial papers and fixed
income assets, as well as short term deposit
placements.
The Fund successfully met its objective to
maintain a high degree of liquidity while
providing consistent current income to its
investors. It will continue its philosophy of
providing
conservative
returns
while
maintaining fluidity of funds for its investors
to meet short term needs.
NAV.
MoneyEXTRA
Benchmark:
Average repurchase
agreement (Repo)
rate
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
3.47
3.58
3.55
3.37
3.01
3.19
3.43
3.13
3.61
3.93
3.25
3.36
3.45
2.12
2.37
2.86
3.03
3.03
3.16
3.29
Source: Lipper
Libra Invest Berhad
Master Prospectus
86
1 year
5.79
VersatileEXTRA
Benchmark:
50% FBM 100 and
50% Maybank 12months fixed deposit
rate
0.30
3 years
5 years
17.62
27.76
5.99
15.75
10 years
81.07
67.33
For the year 2015, the Fund registered
returns of 5.79% outperforming its
benchmark return of 0.3%, reversing the
loss of 1.57% recorded for 2014.
Performance largely came from exposure
close to the maximum allowable 30% to
regional markets which provided decent
capital gains and foreign currency gains on
the back of the weak Ringgit. Though we
remain cautious for 2016 and continue to
maintain high cash levels given the
uncertainties of the market, we continue to
maintain a high exposure to selective
regional markets and also positioning into
stocks with good longer term potential.
NAV.
VersatileEXTRA
Benchmark:
50% FBM 100 and
50% Maybank 12months fixed deposit
rate
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
16.92
27.64
-31.88
30.77
6.61
3.90
4.54
12.96
-1.57
5.79
12.55
17.33
-20.21
22.53
11.98
2.65
6.39
7.30
-1.52
0.30
Source: Lipper
Libra Invest Berhad
Master Prospectus
87
1 year
7.88
DividendEXTRA
(Inception date: 18 Mac 2005)
Benchmark:
FBM 100
-2.89
3 years
5 years
24.07
49.09
1.49
13.38
10 years
152.46
96.00
For the year 2015, the Fund posted gains of
7.88%,
outperforming
its
FBM100
benchmark, which registered a negative
return of 2.89% for the same year. The
regional equities market experienced
heightened volatility in 2015 caused by
global growth concerns, plunging oil prices
as well as huge foreign fund outflows. For
2016, we are maintaining a more cautious
stance and would continue to hold high cash
positions given the uncertainties in the
market. Overall, the Fund continues to meet
its objective of achieving relatively stable
returns over a medium to long term.
NAV.
2010
2011
2012
2013
2006
2007
2008
2009
2014
2015
DividendEXTRA
18.80
Benchmark:
FBM 100
21.83
26.86
-24.37
29.92
14.34
6.47
12.85
12.27
2.43
7.88
31.82
-39.33
45.71
21.76
1.94
9.60
11.39
-6.17
-2.89
Source: Lipper
Libra Invest Berhad
Master Prospectus
88
1 year
-7.00
TacticalEXTRA
Benchmark:
FBM 100 and 50%
Maybank 12-months
fixed deposit rate
0.31
3 years
5 years
8.53
21.24
5.95
15.78
10 years
133.87
68.88
For the year 2015, the Fund posted a
negative return of 7.00%, underperforming
its benchmark return of 0.31%. This was
mainly due to the heightened volatility and
sell down in the domestic market caused by
plunging oil prices and huge foreign fund
outflow. For 2016, we continue to take a
more cautious stance and would maintain
high cash positions given the uncertainties
in the market. The Fund will continue to
invest in domestic companies with strong
balance sheet and resilient earnings.
NAV.
2010
2011
2012
2013
2006
2007
2008
2009
2014
2015
TacticalEXTRA
30.04
Benchmark:
FBM 100 and 50% Maybank
13.17
12-months fixed deposit rate
37.47
-26.48
26.47
16.06
1.48
10.09
9.72
6.36
-7.00
18.00
-20.21
22.52
11.98
2.65
6.39
7.30
-1.55
0.31
Source: Lipper
Libra Invest Berhad
Master Prospectus
89
1 year
LCLAF
(Inception date: 18 July 2007)
Benchmark:
MSCI AC Asia
Consumer
Discretionary Index
3 years
5 years
14.25
45.20
56.27
Since
Inception
68.96
20.21
58.95
52.52
24.19
For the year 2015, the Fund posted a
positive return of 14.25%, underperforming
its benchmark return of 20.21% for the same
year. Throughout the year, China consumer
staples
slightly
outperformed
the
discretionary sector, with names in staples
re-rating on lower energy and raw material
prices. For 2016, we will continue to remain
cautious and maintain the high cash position
given the uncertainties of the market.
Overall, the Fund continues to meet its
objectives of maximizing capital returns over
a medium to long term and has
outperformed its benchmark since inception.
NAV.
LCLAF
(Inception date: 18 July 2007)
Benchmark:
MSCI AC Asia Consumer
Discretionary Index
2011
2012
2013
2014
2007
2008
2009
2010
5.77
-36.90
44.43
15.56
-5.85
14.30
7.24
18.51
14.25
2015
-4.13
-45.67
48.43
15.28
-13.35
11.67
24.01
-0.45
20.21
Source: Lipper
Libra Invest Berhad
Master Prospectus
90
3 years
5 years
Since
Inception
10.66
15.86
19.41
1 year
LLF
(Inception date: 18 Feb 2009)
Benchmark:
3.63
2.02
5.84
9.53
11.86
For the period under review, the Fund was
up 3.63%, outperforming its benchmark
return of 2.02%. Returns for Libra Liquidity
Fund were derived from its investments in
short term Ringgit deposits placed with
licensed financial institutions. In line with its
objective, the Fund has provided consistent
income with minimal risk while preserving
capital and maintaining a high degree of
liquidity. It aims to continue to provide
conservative returns while maintaining
fluidity of funds to meet its investors short
term needs..
NAV.
Since Inception
to 30 Sep 2009
LLF
(Inception date: 18 Feb 2009)
Benchmark:
30 Sep 30 Sep 30 Sep 30 Sep
2010
2011
2012
2013
30 Sep
2014
30 Sep
2015
1.06
1.76
1.26
2.84
3.15
3.30
3.63
0.63
1.10
1.61
1.78
1.82
1.85
2.02
Source: Lipper
Libra Invest Berhad
Master Prospectus
91
1 year
3 years
Since
Inception
-20.05
-17.79
-16.92
LREF
(Inception date: 18 March 2011)
Benchmark: (Note 2)
MSCI ACWI
22.68
43.31
46.29
During the period under review from 30th
September 2014 to 30th September 2015,
the Fund posted a negative return of 20%
and underperformed the benchmark by 43%.
Overall, resources stocks have performed
poorly as the recovery on the global
economy remains patchy and crude oil
tumbled again after a strong rebound in
1HFY15. The renew talk of slower growth in
China, timing of the fed rate hike and the
concern over the oil supply glut are the main
culprits of the weak oil price.
Outlook for other commodities such as base
metals remained negative, as soft Chinese
macro data continued to disappoint the
market.
Currently the Fund is 67% invested in equity.
The Fund is expected to increase its asset
allocation in the near term as values of the
fundamentally strong stocks emerged after
the recent sell down.
Since Inception
to 30 Sep 2011
LREF
Benchmark: (Note 2)
MSCI ACWI
-10.88
-7.98
30 Sep
30 Sep
30 Sep
2012
2013
2014
-4.57
7.74
7.76
30 Sep
2015
7.57
22.68
7.67
9.80
-20.05
Source: Lipper
Note 2:
Effective 16 August 2013, LREF adopted a new mandate and was classified as an equity fund, where the new
benchmark is MSCI ACWI. The benchmark prior to the change was 15.0% MSCI ACWI15.0% J.P. Morgan Global
Aggregate Bond Index + 17.5% S&P/ASX 200 Index + 17.5% S&P/TSX Composite Index + 17.5% AUD Deposit
Rates, Australia 1-year fixed deposit rate + 17.5% CAD Deposit Rates, Canada 1-year fixed deposit rate.
Libra Invest Berhad
Master Prospectus
92
1 year
SyariahEXTRA
Benchmark: (Note 3)
50% FBM EMAS
Shariah Index and 50%
Maybank 12-months
GIA-i rate
3 years
5 years
4.39
24.41
35.02
Since
takeover
2 Jan 2003
103.13
3.12
11.14
22.97
109.78
For the year 2015, the Fund recorded gains
of 4.39%, outperforming its benchmark
return of 3.12%. This was in spite of a
challenging domestic equities market
caused by plunging oil prices and huge
foreign fund outflow resulting in increased
volatility. For 2016, we continue to maintain
a cautious stance and would maintain high
cash positions given the uncertain economic
environment and financial markets. The
Fund will continue to invest in undervalued
domestic companies with strong balance
sheet and resilient earnings. Overall, the
Fund continues to meet its objective of
achieving relatively stable returns over a
medium to long term.
NAV.
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
SyariahEXTRA
13.08
Benchmark:
50% FBM EMAS
14.68
Shariah Index and
50% Maybank 12months GIA-i rate
18.52
-33.33
20.45
10.40
6.14
2.25
14.60
4.00
4.39
23.39
-23.21
21.44
10.32
2.92
7.51
8.24
-0.42
3.12
Source: Lipper
Note 3:
Performance data prior to 2 January 2003 is not available to LIB. With the approval of the Fund‟s Unit Holders in a
Unit Holders meeting held on 4 September 2002, the Fund has adopted a balanced approach towards Shariahcompliant equities and sukuk exposure since 3 October 2002. For the period from inception to 1 November 2002,
SyariahEXTRA was benchmarked against the Kuala Lumpur Shariah Index (KLSI). Subsequently, the new
benchmark for the Fund is the FTSE Bursa Malaysia EMAS Shariah Index as the KLSI, the previous benchmark,
was deactivated on 31 October 2007 by Bursa Malaysia.
Libra Invest Berhad
Master Prospectus
93
1 year
ASnita
(Inception date: 4 May 1998)
Benchmark: (Note 4)
FBM EMAS Shariah
Index
3 years
5 years
0.25
23.37
23.68
Since
takeover
2 May 2003
146.93
2.35
11.11
27.27
181.73
For the year 2015, the Fund posted gains of
0.25%, underperforming its FBM Emas
Shariah benchmark return of 2.35%. It was a
challenging year for domestic equities
market caused by plunging oil prices and
huge foreign fund outflow resulting in
increased volatility. For 2016, we continue to
maintain a cautious stance and would
maintain high cash positions given the
uncertain economic environment and
financial markets. The Fund will continue to
invest in undervalued domestic companies
with strong balance sheet, resilient earnings
and good longer term potential.
NAV.
ASnita
(Inception date: 4 May 1998)
Benchmark:
FBM EMAS Shariah
Index
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
15.10
29.20
-31.46
27.47
14.67
-2.38
2.69
17.59
4.66
0.25
26.52
45.57
-43.52
43.03
18.20
2.41
11.85
13.29
-4.17
2.35
Source: Lipper
Note 4:
Performance data prior to 2 May 2003 is not available to LIB. The Fund was first benchmarked against the Kuala
Lumpur Shariah Index (KLSI) in 2003 when LIB took over the management of the Fund on 2 May 2003 from the
previous management company, Metrowangsa Unit Trusts Berhad. Subsequently, the new benchmark for the Fund
is the FTSE Bursa Malaysia Emas Shariah Index as the KLSI, the previous benchmark, was deactivated on
31 October 2007 by Bursa Malaysia.
Libra Invest Berhad
Master Prospectus
94
3 years
5 years
13.33
27.54
1 year
5.10
ASnitaBOND
Benchmark:
Maybank 6-months
GIA-i Tier I Rate
3.59
10.30
17.24
10 years
56.50
34.73
In 2015, the Fund registered strong
performance of 5.10% return, significantly
beating its benchmark 6-month Maybank
General Investment Account (GIA) return of
3.59%. The performance was mainly
attributed to massive capital appreciation
from a careful selection of high grade sukuk
investments, after thorough analysis on
domestic and global economic environment,
market trends and regional fund flows.
The Fund derived its return from a selection
of sukuk, Islamic money market instruments
and Islamic deposit placements. The Fund
will continue to give strong emphasis on
sukuk issuers‟ credit strength focusing on
cashflow consistency, stringent structure and
experienced management teams. Careful
selection of sukuk and Islamic money market
instruments are carried out to allow the Fund
to benefit from higher profit returns that
commensurate with its risk profile. The Fund
focuses on being conservative from the risk
perspective
while
benefiting
from
investments in government and corporate
sukuk that conform to Shariah requirements.
The Fund achieved its investment objective
of providing capital preservation with regular
profit income over the short to medium term
period.
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
ASnitaBOND
4.81
Benchmark:
Maybank 6-months GIA-i
3.42
Tier I Rate
2.92
2.28
5.53
5.39
6.44
5.72
2.79
4.91
5.10
3.16
2.66
2.31
2.56
3.03
3.17
3.16
3.21
3.59
Source: Lipper
Libra Invest Berhad
Master Prospectus
As at 10 February 2016, the fund has yet to commence investment.
LSLF Series 2
(Inception date: 4 February 2015)
Benchmark:
Average Total Returns (%)
Since Inception
-
-
Annual Total Returns (%)
2015
LSLF Series 2
(Inception date: 4 February 2015)
Benchmark:
-
-
95
Libra Invest Berhad
Master Prospectus
96
Distribution Record
Less
Interest income
Expenses
Net distribution amount
Financial Year ended 31 December
2015
2014
RM
RM
5,180,732
(1,198,101)
3,982,631
2013
RM
-
Distribution Date
Gross distribution per Unit (sen)
Net distribution per Unit (sen)
-
30 Dec
3.99
3.99
-
NAV before distribution per Unit (RM)
NAV after distribution per Unit (RM)
-
0.5882 (29 Dec)
0.5444 (30 Dec)
-
There was no income distribution for the year 2013 and 2015. Distribution to Unit Holders for 2014 was sourced from
interest income. Distributions were automatically reinvested into IncomeEXTRA with no sales charge. The effect of
distribution made will reduce the NAV per Unit of the Fund right after the distribution, but the total wealth of the
investors just before and after distribution will remain unchanged
There was no income distribution for the year 2013, 2014 and 2015.
Interest income
Realised gain on sale of investments
Less
Expenses
Distribution Date
2015
2014
RM
RM
1,353,686
1,883,499
288,424
218,977
1,642,110
2,102,476
(315,208)
(432,131)
1,326,902
1,670,345
2013
RM
-
28 Dec
2.75
2.75
30 Dec
3.25
3.25
-
0.5408 (23 Dec)
0.5137 (28 Dec)
0.5463 (29 Dec)
0.5139 (30 Dec)
-
There was no income distribution for the year 2013. Distribution to Unit Holders for 2014 and 2015 was sourced from
interest income and realised gain on sale of investments. Distributions were automatically reinvested into BondEXTRA
with no sales charge. The effect of distribution made will reduce the NAV per Unit of the Fund right after the
distribution, but the total wealth of the investors just before and after distribution will remain unchanged.
Libra Invest Berhad
Master Prospectus
97
Distribution Record
Interest income
Less
Expenses
Distribution Date
2015
2014
RM
RM
6,041,103
4,700,838
1,382,786
2,015,850
7,423,889
6,716,688
(1,110,357)
(1,162,755)
6,313,532
5,553,933
2013
RM
4,453,740
1,963,128
6,416,868
(1,172,457)
5,244,411
26 Mar, 26 Jun
28 Sep & 28 Dec
0.42 (26 Mar)
0.52 (26 Jun)
0.53 (28 Sep)
0.53 (28 Dec)
0.42 (26 Mar)
0.52 (26 Jun)
0.53 (28 Sep)
0.53 (28 Dec)
26 Mar, 25 Jun
26 Sep & 26 Dec
0.36 (26 Mar)
0.36 (25 Jun)
0.42 (26 Sep)
0.42 (26 Dec)
0.36 (26 Mar)
0.36 (25 Jun)
0.42 (26 Sep)
0.42 (26 Dec)
26 Mar, 25 Jun
25 Sep & 26 Dec
0.36 (26 Mar)
0.36 (25 Jun)
0.36 (25 Sep)
0.36 (26 Dec)
0.36 (26 Mar)
0.36 (25 Jun)
0.36 (25 Sep)
0.36 (26 Dec)
0.5538 (25 Mar)
0.5554 (25 Jun)
0.5544 (25 Sep)
0.5546 (23 Dec)
0.5497 (26 Mar)
0.5502 (26 Jun)
0.5494 (28 Sep)
0.5496 (28 Dec)
0.5478 (25 Mar)
0.5485 (24 Jun)
0.5511 (25 Sep)
0.5519 (24 Dec)
0.5442 (26 Mar)
0.5449 (25 Jun)
0.5469 (26 Sep)
0.5479 (26 Dec)
0.5460 (25 Mar)
0.5475 (24 Jun)
0.5471 (24 Sep)
0.5478 (24 Dec)
0.5425 (26 Mar)
0.5435 (25 Jun)
0.5435 (25 Sep)
0.5443 (26 Dec)
Distribution to Unit Holders for 2013, 2014 and 2015 was sourced from interest income and realised gain on sale of
investments. Distributions were automatically reinvested into MoneyEXTRA with no sales charge. The effect of
distribution made will reduce the NAV per Unit of the Fund right after the distribution, but the total wealth of the
investors just before and after distribution will remain unchanged.
There was no income distribution for year 2013, 2014 and 2015.
Libra Invest Berhad
Master Prospectus
98
Distribution Record
Interest income
Previous year‟s realised gain
Less
Expenses
2015
2014
2013
RM
RM
RM
68,931
89,467
553,783
654,533
1,092,362
353,543
1,715,076
1,097,543
(356,403)
(326,420)
1,358,673
771,123
Distribution Date
-
5 May
8.00
8.00
13 Mar
6.00
6.00
-
0.8045(2 May)
0.7326(12 Mar)
-
0.7201(5 May)
0.6683(13 Mar)
Net distribution per Unit (sen
-
There was no income distribution for the year 2015. Distribution to Unit Holders for 2013 and 2014 was sourced from
interest income, realised gain on sale of investments and previous year‟s realised gain. Distributions were
automatically reinvested into DividendEXTRA with no sales charge. The effect of distribution made will reduce the NAV
per Unit of the Fund right after the distribution, but the total wealth of the investors just before and after distribution will
remain unchanged.
Libra Invest Berhad
Master Prospectus
99
Distribution Record
Interest income
Less
Expenses
Distribution Date
Financial Year ended 30 September
2015
2014
RM
RM
2,139,783
1,599,501
186,088
2,325,871
1,599,501
(109,647)
(114,395)
2,216,224
1,485,106
2013
RM
2,317,363
2,317,363
(440,206)
1,877,157
26 Dec, 26 Mar,
26 Jun, 28 Sep
0.39 (26 Dec)
0.39 (26 Mar)
0.45 (26 Jun)
0.45 (28 Sep)
0.39 (26 Dec)
0.39 (26 Mar)
0.45 (25 Jun)
0.45 (25 Sep)
26 Dec, 26 Mar,
25 Jun, 26 Sep
0.19 (26 Dec)
0.38 (26 Mar)
0.38 (25 Jun)
0.39 (26 Sep)
0.19 (26 Dec)
0.38 (26 Mar)
0.38 (25 Jun)
0.39 (26 Sep)
26 Mar,
25 Jun, 25 Sep
0.19 (26 Mar)
0.19 (25 Jun)
0.19 (25 Sep)
0.19 (26 Mar)
0.19 (25 Jun)
0.19 (25 Sep)
0.5281 (24 Dec)
0.5289 (25 Mar)
0.5298 (25 Jun)
0.5300 (25 Sep)
0.5243 (26 Dec)
0.5250 (26 Mar)
0.5253 (26 Jun)
0.5257 (28 Sep)
0.5241 (24 Dec)
0.5264 (25 Mar)
0.5268 (24 Jun)
0.5275 (25 Sep)
0.5223 (26 Dec)
0.5226 (26 Mar)
0.5231 (25 Jun)
0.5236 (26 Sep)
0.5176 (25 Mar)
0.5197 (24 Jun)
0.5219 (24 Sep)
0.5157 (26 Mar)
0.5178 (25 Jun)
0.5200 (25 Sep)
Distribution to Unit Holders for 2013, 2014 and 2015 was sourced from interest income and previous year‟s realised
gain. Distribution was automatically reinvested into LLF with no sales charge. The effect of distribution made will
reduce the NAV per Unit of the Fund right after the distribution, but the total wealth of the investors just before and
after distribution will remain unchanged.
Libra Invest Berhad
Master Prospectus
100
Distribution Record
Income from Islamic money market
Realised gain on sale of Shariahcompliant investments
Less
Expenses
Net distribution
Distribution Date
2015
2014
RM
RM
4,227,688
4,225,355
2013
RM
5,235,447
942,629
5,170,317
(986,440)
4,183,877
188,811
523,794
4,937,960
(983,946)
3,954,014
1,696,683
6,932,130
(1,283,093)
5,649,037
26 Mar
3.00
3.00
26 Mar
2.50
2.50
13 Mar
3.00
3.00
0.6124 (25 Mar)
0.5825 (26 Mar)
0.6016 (25 Mar)
0.5769 (26 Mar)
0.6176(12 Mar)
0.5876(13 Mar)
Distribution to Unit Holders for 2013, 2014 and 2015 was sourced from profit income, realised gain on sale of Shariahcompliant investments and previous year‟s realised gain. Distribution was automatically reinvested into ASnitaBOND
with no sales charge. The effect of distribution made will reduce the NAV per Unit of the Fund right after the
distribution, but the total wealth of the investors just before and after distribution will remain unchanged.
Libra Amanah Saham Wanita (ASnita)
There was no income distribution for the year 2015.
Libra Invest Berhad
Master Prospectus
101
Portfolio Turnover Ratio (PTR)
The following table reflects the Portfolio Turnover Ratio (PTR) of the Funds for the three (3) most recent financial
years.
Fund Name
2015
2014
2013
IncomeEXTRA
(times)
0.08
(times)
1.49
(times)
2.76
EquityEXTRA
0.82
0.66
1.51
BondEXTRA
0.72
1.74
1.93
MoneyEXTRA
0.85
1.70
2.47
VersatileEXTRA
0.69
1.46
2.03
DividendEXTRA
0.68
1.70
2.83
TacticalEXTRA
0.65
0.99
2.65
LCLAF
1.32
1.39
2.53
SyariahEXTRA
0.54
0.66
1.16
ASnita
0.74
0.90
1.31
ASnitaBOND
1.39
1.50
1.57
IncomeEXTRA, BondEXTRA, MoneyEXTRA, VersatileEXTRA, TacticalEXTRA, SyariahEXTRA, ASnita and ASnita
Bond have a lower PTR for the current year compared to the previous financial year due to a higher percentage
decrease in the average transactional value compared to the percentage decrease in the average net asset value.
EquityEXTRA has a higher PTR compared to the previous financial year due to an increase in the average
transactional value and a decrease in the average net asset value.
DividendEXTRA has a lower PTR for the current year compared to the previous financial year due to a decrease in the
average transactional value and an increase in the average net asset value.
LCLAF has a lower PTR for the current year compared to the previous financial year due to a lower percentage
increase in the average transactional value compared to the percentage increase in the average net asset value.
Fund Name
LLF
LREF
LSLF Series 2
2015
2014
2013
(times)
(times)
(times)
-
-
-
0.93
0.90
2.02
-
-
-
The LLF does not have PTR because all investments are in short term cash deposits and LREF have a higher PTR for
the current year compare to the previous financial year due to a lower percentage decrease in average transactional
value compared to the percentage decrease in the average net asset value.
The LSLF Series 2 has yet to commence investment as at 10 February 2016.
Libra Invest Berhad
Master Prospectus
Asset Allocation
2015
(%)
As at 31 December
2014
(%)
2013
(%)
IncomeEXTRA*
Unquoted fixed income securities
Quoted equities
Cash & others
32.77
55.06
12.17
31.62
57.36
11.02
37.44
57.65
4.91
EquityEXTRA
Quoted equities & equity-related securities
Cash & others
73.54
26.46
73.23
26.77
72.67
1.31
26.02
BondEXTRA
Quoted securities
Cash & others
95.71
4.29
78.22
21.78
92.43
7.57
MoneyEXTRA
Unquoted bonds
Unquoted commercial papers
Cash & others
29.00
29.35
41.65
25.94
31.29
42.77
28.52
55.58
15.90
VersatileEXTRA
Cash & others
44.65
55.35
42.33
57.67
61.22
12.41
26.37
DividendEXTRA
Cash & others
75.30
24.70
69.65
30.35
75.28
24.72
TacticalEXTRA
Cash & others
70.15
29.85
62.18
37.82
65.48
35.52
LCLAF
Cash & others
73.34
11.99
14.67
65.72
10.78
23.50
79.71
12.08
8.21
SyariahEXTRA
Quoted Shariah-compliant equities &
equity-related securities
Unquoted sukuk
Cash & Others
40.34
59.66
32.72
67.28
55.17
11.68
33.15
ASnita
Quoted Shariah-compliant equities &
equity-related securities
Cash & others
70.16
29.84
52.95
47.05
69.94
30.06
* Effective 16 August 2011, the Fund has adopted a new mandate and is now classified as a balanced fund.
102
Libra Invest Berhad
Master Prospectus
Asset Allocation
2015
(%)
As at 31 December
2014
(%)
2013
(%)
92.60
7.40
86.67
13.33
0.85
73.07
26.08
2015
(%)
As at 30 September
2014
(%)
2013
(%)
LLF
Liquid assets including short term deposits
100.00
100.00
100.00
LREF
Cash & others
66.58
33.42
80.80
19.20
84.63
15.37
-
-
-
ASnitaBOND
Islamic Commercial paper
Unquoted sukuk
Cash & Others
LSLF Series 2
Short term Islamic deposits
Past performance of the Funds is not an indication of future performance.
103
Libra Invest Berhad
Master Prospectus
104
10. HISTORICAL FINANCIAL HIGHLIGHTS OF THE FUNDS
Audited Financial Statement of the Funds
Total investment income
Less total expenditure
Net income/ (loss) before tax
Add/ (Less) taxation
Net income/ (loss) after tax
2015
2014
2013
(RM)
(RM)
(RM)
5,873,704
13,422,925
1,230,752
(923,677)
(1,198,101)
(1,584,608)
4,950,027
12,224,824
(353,856)
15,714
(98,595)
4,950,027
12,240,538
(452,451)
Total investment (loss)/ income
Net (loss)/ income before tax
Net (loss)/ income after tax
2015
2014
(RM)
(RM)
(1,000,481)
3,062,813
(798,383)
(830,282)
(1,798,864)
2,232,531
311
(1,798,864)
2,232,842
2013
(RM)
4,959,116
(664,316)
4,294,800
(14,754)
4,280,046
Net income before tax
Less taxation
Net income after tax
2015
2014
2013
(RM)
(RM)
(RM)
1,999,772
2,638,305
1,214,699
(315,208)
(432,131)
(788,365)
1,684,564
2,206,174
426,334
1,684,564
2,206,174
426,334
Less taxation
2015
2014
2013
(RM)
(RM)
(RM)
8,199,497
8,232,495
7,530,752
(1,110,357)
(1,162,755)
(1,172,457)
7,089,140
7,069,740
6,358,295
7,089,140
7,069,740
6,358,295
Libra Invest Berhad
Master Prospectus
105
Financial Year Ended 31 December
2015
2014
2013
(RM)
(RM)
(RM)
111,849
94,162
610,530
(53,952)
(69,929)
(112,915)
57,897
24,233
497,615
174
(310)
57,897
24,407
497,305
2015
2014
(RM)
(RM)
1,557,863
350,341
(360,364)
(356,403)
1,197,499
(6,062)
5,546
1,197,499
(516)
2013
(RM)
1,482,994
(326,420)
1,156,574
(12,060)
1,144,514
2015
2014
(RM)
(RM)
(1,634,639)
3,114,511
(767,377)
(855,371)
(2,402,016)
2,259,140
(2,402,016)
2,259,140
2013
(RM)
3,785,012
(937,067)
2,847,945
58
2,848,003
Taxation
Less taxation
2015
2014
2013
(RM)
(RM)
(RM)
7,971,991
8,299,219
3,597,669
(1,245,477)
(983,904)
(1,160,581)
6,726,514
7,315,315
2,437,088
6,726,514
7,315,315
2,437,088
Less taxation
2015
2014
2013
(RM)
(RM)
(RM)
2,139,783
2,144,579
7,822,353
(109,647)
(114,395)
(440,206)
2,030,136
2,030,184
7,382,147
2,030,136
2,030,184
7,382,147
Libra Invest Berhad
Master Prospectus
106
Less taxation
2015
2014
(RM)
(RM)
(2,080,128)
713,288
(238,476)
(264,056)
(2,318,604)
449,232
(2,318,604)
449,232
2013
(RM)
(241,883)
(254,084)
(495,967)
(194)
(496,161)
2015
2014
(RM)
(RM)
1,352,787
1,279,001
(445,559)
(428,715)
907,228
850,286
907,228
850,286
2013
(RM)
3,189,852
(428,730)
2,761,122
(37)
2,761,085
Total Shariah-compliant investment income
Less taxation
Less taxation
2015
2014
2013
(RM)
(RM)
(RM)
1,721,464
4,447,536
10,200,721
(1,446,399)
(1,512,380)
(1,369,938)
275,065
2,935,156
8,830,783
(15,526)
275,065
2,935,156
8,815,257
Less taxation
2015
2014
2013
(RM)
(RM)
(RM)
5,247,419
5,048,009
4,675,295
(986,440)
(983,946)
(1,283,093)
4,260,979
4,064,063
3,392,202
4,260,979
4,064,063
3,392,202
Less taxation
2015
(RM)
-
Libra Invest Berhad
Master Prospectus
107
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
39,217,302
52,128,879
7,453,111
8,436,971
46,670,413
60,565,850
2013
(RM)
70,255,532
14,806,054
85,061,586
Total liabilities excluding NAV attributable to Unit Holders
NAV attributable to Unit Holders
1,011,445
45,658,968
1,976,360
58,589,490
11,178,319
73,883,267
(13,856,941)
58,151,627
1,364,282
45,658,968
4,023,608
52,741,279
1,824,603
58,589,490
27,575,292
49,767,940
(3,459,965)
73,883,267
NAV attributable to Unit Holders is represented by:
Unit Holders‟ contribution
Realised reserves
Unrealised reserves/ (deficits)
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
23,163,598
29,587,730
9,427,204
10,962,123
32,590,802
40,549,853
2013
(RM)
27,673,833
10,141,715
37,815,548
1,092,493
31,498,309
143,409
40,406,444
408,195
37,407,353
19,942,376
9,669,831
1,886,102
31,498,309
27,051,647
10,939,175
2,415,622
40,406,444
26,285,398
8,636,095
2,485,860
37,407,353
Realised reserves
Unrealised reserves
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
24,811,705
21,995,079
1,997,146
6,787,550
26,808,851
28,782,629
2013
(RM)
48,435,080
7,741,489
56,176,569
550,125
26,258,726
663,625
28,119,004
3,773,025
52,403,544
13,887,631
12,638,506
(267,411)
26,258,726
16,105,571
12,136,521
(123,088)
28,119,004
40,925,940
15,194,488
(3,716,884)
52,403,544
Realised reserves
Unrealised deficits
Libra Invest Berhad
Master Prospectus
108
Total investments
Other assets
Total assets
As at 31 December
2015
2014
2013
(RM)
(RM)
(RM)
90,731,007
100,026,571
162,065,358
64,975,091
74,870,255
30,741,286
155,706,098
174,896,826
192,806,644
207,725
155,498,373
103,798
174,793,028
97,954
192,708,690
145,145,315
10,235,727
117,331
155,498,373
165,215,578
9,038,513
538,937
174,793,028
184,647,047
7,987,925
73,718
192,708,690
Realised reserves
Unrealised reserves
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
466,236
424,980
589,113
589,962
1,055,349
1,014,942
2013
(RM)
2,042,400
748,113
2,790,513
11,076
1,044,273
10,930
1,004,012
16,976
2,773,537
(968,095)
2,017,676
(5,308)
1,044,273
(950,459)
1,989,695
(35,224)
1,004,012
843,473
1,709,304
220,760
2,773,537
Realised reserves
Unrealised (deficits)/ reserves
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
12,234,757
10,525,117
4,076,173
4,616,280
16,310,930
15,141,397
2013
(RM)
9,132,333
3,021,772
12,154,105
62,356
16,248,574
29,009
15,112,388
22,933
12,131,172
13,395,767
2,188,177
664,630
16,248,574
13,457,080
2,262,203
(606,895)
15,112,388
9,116,675
2,563,414
451,083
12,131,172
Realised reserves
Libra Invest Berhad
Master Prospectus
109
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
24,398,412
26,760,398
11,924,221
16,353,297
36,322,633
43,113,695
2013
(RM)
25,396,116
12,868,528
38,264,644
1,543,530
34,779,103
74,340
43,039,355
61,951
38,202,693
15,452,590
18,147,510
1,179,003
34,779,103
21,310,826
22,326,678
(598,149)
43,039,355
18,733,304
18,156,272
1,313,177
38,202,693
Realised reserves
Total investments
Other assets
Total assets
As at 31 December
2015
2014
(RM)
(RM)
49,693,287
35,452,122
8,645,897
12,011,031
58,339,184
47,463,153
2013
(RM)
37,425,347
3,893,931
41,319,278
104,843
58,234,341
1,122,839
46,340,314
549,552
40,769,726
40,992,097
9,758,927
7,483,317
58,234,341
35,824,584
6,426,753
4,088,977
46,340,314
37,569,311
1,792,003
1,408,412
40,769,726
Realised reserves
Unrealised reserves
Total assets
As at 30 September
2015
2014
2013
(RM)
(RM)
(RM)
154,957,057
43,209,090
182,979,660
49,751
154,907,306
13,223
43,195,867
212,478
182,767,182
148,763,426
6,143,880
154,907,306
36,865,899
6,329,968
43,195,867
176,982,292
5,784,890
182,767,182
Realised reserves
Libra Invest Berhad
Master Prospectus
110
Total investments
Other assets
Total assets
As at 30 September
2015
2014
(RM)
(RM)
5,156,168
9,552,543
3,002,579
2,350,435
8,158,747
11,902,978
2013
(RM)
6,604,461
1,219,004
7,823,465
414,360
7,744,387
80,815
11,822,163
20,180
7,803,285
9,981,710
(1,883,248)
(354,075)
7,744,387
11,740,882
125,565
(44,284)
11,822,163
8,171,236
(418,982)
51,031
7,803,285
Realised (deficits)/ reserves
As at 31 December
2015
2014
(RM)
(RM)
2013
(RM)
Total investments – Quoted Shariah-compliant securities &
Unquoted sukuk
Other assets
Total assets
8,372,406
12,440,535
20,812,941
6,901,036
14,231,600
21,132,636
14,078,283
7,119,465
21,197,748
57,853
20,755,088
38,283
21,094,353
138,082
21,059,666
11,542,353
9,315,006
(102,271)
20,755,088
12,788,846
7,612,014
693,493
21,094,353
13,604,445
6,162,584
1,292,637
21,059,666
Realised reserves
Total investments – Unquoted sukuk
Other assets
Total assets
As at 31 December
2015
2014
2013
(RM)
(RM)
(RM)
80,760,424
74,023,637
86,085,097
6,565,147
11,463,845
31,022,517
87,325,571
85,487,482
117,107,614
87,274
87,238,297
79,139
85,408,343
656,071
116,451,543
81,750,013
5,488,260
24
87,238,297
79,997,161
4,704,045
707,137
85,408,343
111,150,410
5,462,567
(161,434)
116,451,543
Realised reserves
Libra Invest Berhad
Master Prospectus
111
As at 31 December
2015
2014
(RM)
(RM)
2013
(RM)
Total investments – Quoted and Unquoted Shariah-compliant
investments
Other assets
Total assets
40,458,323
17,333,563
57,791,886
33,833,123
30,449,670
64,282,793
42,444,288
19,234,185
61,678,473
113,796
57,678,090
378,033
63,904,760
990,423
60,688,050
5,474,728
52,322,190
(118,828)
57,678,090
11,976,463
49,413,180
2,515,117
63,904,760
11,694,909
45,189,990
3,803,151
60,688,050
Realised reserves
Total investment
Other assets
Total assets
Realised reserves
As at 30 September
2015
(RM)
-
-
Note: The Shariah Adviser confirms that the investment portfolio of Libra ASnitaBOND Fund, Libra Amanah Saham
Wanita and Libra SyariahEXTRA Fund comprise securities which have been classified as Shariah-compliant by the
SACSC. As for the securities which are not certified by the SACSC, they have reviewed the said securities and opined
that these securities are designated as Shariah-compliant.
Libra Invest Berhad
Master Prospectus
Total Annual Expenses Incurred by the Funds in the Preceding Financial Year
Financial year ended 31 December 2015.
Fund Name
Management Fee
IncomeEXTRA
(RM)
667,988
(%) *
1.15
(RM)
46,468
(%) *
0.08
(RM)
209,221
(%) *
0.43
Total Annual
Expenses
(RM)
(%) *
923,677
1.66
EquityEXTRA
620,957
1.65
37,634
0.10
139,792
0.46
798,383
2.21
BondEXTRA
280,420
1.00
19,629
0.07
15,159
0.10
315,208
1.17
MoneyEXTRA
Trustee Fee
Fund Expenses
962,871
0.50
134,802
0.07
12,684
0.03
1,110,357
0.60
VersatileEXTRA
16,404
1.50
766
0.07
36,782
3.59
53,952
5.16
DividendEXTRA
257,597
1.50
12,021
0.07
90,746
0.62
360,364
2.19
TacticalEXTRA
612,699
1.50
28,592
0.07
126,086
0.39
767,377
1.96
LCLAF
970,364
1.70
45,664
0.08
229,449
0.50
1,245,477
2.28
SyariahEXTRA
331,167
1.50
13,247
0.06
101,145
0.55
445,559
2.11
ASnita
959,826
1.50
63,988
0.10
422,585
0.76
1,446,399
2.36
ASnitaBOND
911,706
1.00
63,819
0.07
10,915
0.06
986,440
1.13
Financial year ended 30 September 2015
Fund Name
LLF
LREF
LSLF Series 2
(RM)
78,983
(%) *
0.14
(RM)
11,283
(%) *
0.02
(RM)
19,381
(%) *
0.03
Total Annual
Expenses
(RM)
(%) *
109,647
0.19
164,244
1.75
7,508
0.08
66,724
0.71
238,476
Management Fee
-
-
Trustee Fee
-
Fund Expenses
-
* reflected as a percentage of average NAV for the financial year/period.
-
-
-
2.54
-
112
Libra Invest Berhad
Master Prospectus
113
The following table reflects the management expense ratio (MER) of the Funds for the three (3) most recent financial
years.
Fund Name
2015
2014
2013
(%)
(%)
(%)
IncomeEXTRA
1.66
1.53
2.00
EquityEXTRA
2.21
2.06
2.44
BondEXTRA
1.17
1.11
1.14
MoneyEXTRA
0.60
0.58
0.58
VersatileEXTRA
5.16
3.16
2.69
DividendEXTRA
2.19
2.39
3.07
TacticalEXTRA
1.96
1.99
2.50
LCLAF
2.28
2.25
2.87
SyariahEXTRA
2.11
1.98
2.10
ASnita
2.36
2.30
2.47
ASnitaBOND
1.13
1.09
1.08
IncomeEXTRA, EquityEXTRA, BondEXTRA, VersatileEXTRA and Asnita have a higher MER for the current year
compared to the previous financial year due to a lower percentage decrease in the expenses compared to the
percentage decrease in the average net asset value.
DividendEXTRA has a lower MER for the current year compared to the previous financial year due to a lower
percentage increase in the expenses compared to the percentage increase in the average net asset value.
TacticalEXTRA has a lower MER for the current year compared to the previous financial year due to a higher
percentage decrease in the expenses compared to the percentage decrease in the average net asset value.
LCLAF has a higher MER for the current year compared to the previous financial year due to a higher percentage
increase in the expenses compared to the percentage increase in the average net asset value.
MoneyEXTRA has a fairly consistent MER as compared to previous financial year.
SyariahEXTRA and AsnitaBond have a higher MER for the current year compared to the previous financial year due to
an increase in the expenses and a decrease in the average net asset value.
Fund Name
2015
2014
2013
LLF
(%)
0.19
(%)
0.18
(%)
0.18
LREF
2.54
2.51
2.15
-
-
-
LSLF Series 2
LLF has a fairly consistent MER as compared to previous financial year.
LREF has a higher MER for the current year compared to previous financial year due to a lower percentage decrease
in the expenses compared to the percentage decrease in the average net asset value.
LSLF Series 2 has yet to commence investment as at 10 February 2016.
Past performance of the Funds is not an indication of future performance.
The audited financial statements of the Funds are disclosed in the Funds’ annual report.
The Funds’ annual reports are available upon request.
Libra Invest Berhad
Master Prospectus
114
11. FEES, CHARGES AND EXPENSES OF THE FUNDS
Charges Directly Incurred
(a)
Sales Charge
This is the maximum sales charge permitted by each distribution channels.
Fund Name
Non-EPF Member’s Investment Scheme
EPF Member’s Investment Scheme
IncomeEXTRA
5*
Not applicable
EquityEXTRA
5*
3
BondEXTRA
5*
3
MoneyEXTRA
Nil
Nil
VersatileEXTRA
5*
Not applicable
DividendEXTRA
5*
3
TacticalEXTRA
5*
3
LCLAF
5*
Not applicable
LLF
Nil
Not applicable
LREF
5*
Not applicable
SyariahEXTRA
5*
3
ASnita
5*
Not applicable
ASnitaBOND
5*
3
LSLF Series 2
Nil
Not applicable
*The sales charge is negotiable.
The sales charge payable for investments in a Fund is equivalent to the specified percentage of the NAV per Unit of
the respective Funds. There is no sales charge imposed for distribution of income reinvested for all the Funds. Please
refer to page 119 for an illustration on the calculation of the sales charge.
EPF Member’s Investment Schemes
As at 10 February 2016, EPF members may invest in the following EPF-approved Funds:
ASnitaBOND, BondEXTRA, DividendEXTRA, EquityEXTRA, MoneyEXTRA, SyariahEXTRA and TacticalEXTRA. The
list may be revised by EPF from time to time.
The above is only applicable to investors who purchase Units via the EPF member‟s investment scheme and is subject
to changes by EPF from time to time. Please refer to the Manager for the latest list of Funds approved by EPF for
investment.
(b)
Repurchase Charge
Nil
(c)
Dilution Fee/Transaction Cost
Nil
Libra Invest Berhad
Master Prospectus
(d)
Transfer Fee
Nil
(e)
Other Charges
115
There are no other charges (except charges levied by banks on remittance of money) payable directly by investors
when purchasing or liquidating units.
(f)
Switching Fee
No switching fee is imposed on all switches between equity Funds and non-equity Funds under the oneINVEST
strategy. This is to facilitate profit taking (if any), i.e. from holding in equity Funds and reinvestment in fixed income
Funds. Switching between the Funds will be at NAV per Unit to NAV per Unit. All switches are subject to availability of
Units. Switching from Shariah-compliant Funds to a conventional Fund is not encouraged especially for Muslim Unit
Holders.
Note:
With effect from 1 April 2015, a Unit Holder or the Fund (as the case may be) shall pay a GST at the rate of 6% which
may be imposed by the relevant authority in respect of any fees, charges or expenses payable by virtue of the Deed
for the respective Fund.
Investors should be aware that such fees, charges and expenses referred to or quoted in this Master Prospectus and
the Deed are referred to or quoted as being exclusive of GST.
(a)
The Management Company is entitled to an annual management fee based on the NAV of the Fund, which is accrued
daily.
The annual management fee for the following Funds are as follows:
Fund Name
IncomeEXTRA
1.15% p.a. of the Fund‟s NAV
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
LSLF Series 2
Please refer to page 118 for an illustration on the calculation of the management fee.
Libra Invest Berhad
Master Prospectus
(b)
116
Annual Trustee Fee
The annual trustee fee is based on the NAV of the Fund accrued daily and paid monthly. The rates are:
Fund Name
Annual Trustee Fee
IncomeEXTRA
0.08% p.a. of the Fund‟s NAV, subject to a minimum of RM30,000 p.a.
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
0.07% p.a. of the Fund‟s NAV (excluding foreign custodian fee and charges)
TacticalEXTRA
LCLAF
LLF
LREF
0.08% p.a. of the Fund‟s NAV, subject to a minimum of RM18,000 per annum (excluding
foreign custodian fees and charges)
SyariahEXTRA
Asnita
ASnitaBOND
LSLF Series 2
Please refer to page 118 for an illustration on the calculation of the trustee fee.
Fees or Charges of the Advisor to the Management Company
The advisory fee payable to the Shariah Adviser will be fully borne by the Management Company.
Custodian Fee
The custodian fee payable is as follows:
IncomeEXTRA

invests in.

made overseas.
VersatileEXTRA

invests in.

made overseas.
Libra Invest Berhad
Master Prospectus
117
DividendEXTRA, LCLAF and LREF

The custodian fee payable is subject to an agreement with the custodian and will depend on the number of
transaction carried out and the place at which such transaction are effected. The custodian fee will be paid to the
custodian, for investments which are made overseas.
Rebate & Soft Commissions
The Manager will retain soft commissions received from stockbrokers, provided they are of demonstrable benefit to the
Unit Holders. Such soft commissions may take the form of goods and services such as data and quotation services,
computer software incidental to the management of the Fund and investment related publications. Rebates, if any, will
be directed to the account of the Fund.
Other Expenses to Be Paid Out Of the Fund
Apart from the fees payable to the Management Company and the Trustee as described above, only fees and
expenses that are directly related to the operations of the Fund may be paid out of the Fund. These include the
following:

auditor and other professional fees;

tax and duties imposed by the authorities;

sub-custodian fee or charges (where the custodial function is delegated by the Trustee);

commissions paid to brokers in effecting the investment transactions of the Fund;

cost of convening meetings of Unit Holders other than those incurred by or for the benefit of the Management
Company or Trustee;

cost for modification of Deed save where such modification is for the benefit of the Management Company and/or
the Trustee;

cost of production and distribution of reports of the Fund, tax vouchers, dividend warrants and notices to Unit
Holders; and

other fees/expenses permitted in the Deed.
Where the Management Company or the Trustee have incurred such expenses on behalf of the Fund, it shall be duly
reimbursed by the Fund.
Other Fees Payable Indirectly by an Investor
Nil
Note:
The above fees and charges are exclusive of GST payable by a Unit Holder or the Fund (as the case may be).
There are fees and charges involved and investors are advised to consider them before investing in the
Funds.
Libra Invest Berhad
Master Prospectus
118
12. TRANSACTION INFORMATION
Pricing
Computation of NAV
The NAV of the Fund is calculated at the end of each Business Day and is defined as the total value of the Fund‟s
investment less any liabilities at that valuation point. Where applicable, investment income, interest payable, fees and
other liabilities (including management fee) will be accrued daily in arriving at the NAV of the Fund.
NAV per Unit = NAV of the Fund / Number of Units in circulation
Illustration (based on TacticalEXTRA)
Less:
Less:
NAV before deducting management fee and trustee fee for the day
Management fee for the day (1.50% per annum) 20,000,000 x 1.50% / 365
Trustee fee for the day (0.07% per annum) 20,000,000 x 0.07% / 365
NAV
Units in circulation
NAV per Unit (a) / (b)
NAV per Unit (rounded up to four decimal places)
(a)
(b)
RM
RM
RM
20,000,000.00
821.92
38.36
RM
19,999,139.72
40,000,000.00
0.499978493
0.5000
RM
RM
Illustration (based on TacticalEXTRA)
NAV before deducting management fee and trustee fee for the day
RM
20,000,000.00
Less:
Management fee for the day (1.50% per annum) 20,000,000 x 1.50% / 365
RM
821.92
Less:
Trustee fee for the day (0.07% per annum) 20,000,000 x 0.07% / 365
RM
38.36
RM
19,999,139.72
NAV
(a)
Units in circulation
(b)
NAV per Unit (a) / (b)
40,000,000.00
RM
0.499978493
NAV per Unit (rounded up to four decimal places)
RM
0.5000
Note:The charges set out above are exclusive of GST payable by a Unit Holder. Refer to details on page 28.
Pricing Policy

Single Pricing
Selling of Units by the Management Company (i.e. when you purchase Units) and repurchase of Units by the
Management Company (i.e. when you liquidate your Units) will be carried out at NAV per Unit (the actual value of a
Unit). The sales charge or repurchase charge (if any) would be computed separately based on your investment or
liquidation amount.

Forward Pricing
The single price for investment or liquidation of Units shall be the daily NAV per Unit at the next valuation point after
the Management Company receives the investment or liquidation application (i.e. forward prices are used).

Incorrect Pricing Policy
Incorrect pricing refers to pricing discrepancies in the calculation of NAV of the Fund. Should there be any incorrect
pricing, the Management Company will take immediate remedial action to rectify any incorrect pricing at the Fund
level. The Management Company‟s remedial action must extend to the reimbursement of money if the error is at or
above the threshold of 0.5% of the NAV per Unit, unless the total impact on an individual account is less than RM10.00
in absolute amount, of which no reimbursement of money is required as the reprocessing costs may be greater than
the amount of the adjustment. The Management Company is nevertheless allowed to pay any amount to the Unit
Holders or former Unit Holders even though it is less than 0.5% of the NAV per Unit or RM10.00.
Libra Invest Berhad
Master Prospectus
119
How Is the Selling Price Computed
Investors may invest in Units of the Fund on any Business Day.
The number of Units invested is determined by dividing the investment amount (excluding sales charge) with the NAV
per Unit at the next valuation point after the Management Company receives the investment application, rounded to
the nearest two decimal places.
Illustration : Determining Investment Amount & Units Entitlement
Add :
Investment amount
RM
10,000.00
Sales charge (5.00%)
RM
500.00
Total amount payable by investor
RM
10,500.00
Investment amount
RM
10,000.00
NAV per Unit
RM
0.5000
The following day, the price of a Unit i.e., the NAV per Unit, will be published in the
Manager‟s website. For example, if the NAV per Unit was RM0.5000 the number of
Units invested would be:
Divide :
Number of Units invested
20,000.00
How Is the Liquidation Amount Computed
Investors may liquidate their investment on any Business Day.
The liquidation amount is calculated by multiplying the NAV per Unit at the next valuation point after the Management
Company receives the liquidation application, with the number of units held.
Illustration : Determining Liquidation Amount
Number of Units to be liquidated
Multiply :
Less :
10,000.00
For example, if the NAV per Unit calculated at the next valuation point was
RM0.5050, the liquidation amount would be:
NAV per Unit
RM
0.5050
Liquidation amount
RM
5,050.00
RM
5,050.00
Repurchase charge (Nil)
Net amount payable to investor
NIL
The selling and repurchase prices including the NAV per Unit of the Funds are available at our website at
www.librainvest.com.
Libra Invest Berhad
Master Prospectus
Switching of units through
Entitlement
oneINVEST
/
oneINVEST
120
Islamic – Determining Investment Amount and Units
Investors investing through oneINVEST / oneINVEST Islamic may exercise unlimited free switches between equity
Funds and non-equity Funds on any Business Day within the calendar year.
Example : Switching from ASnitaBOND to EquityEXTRA
Step 1 : To determine the switching amount of ASnitaBOND
The switching amount is determined by multiplying the NAV per Unit of ASnitaBOND at the end of the Business Day
with the number of units to be switched.
Step 2 : To determine the number of units in EquityEXTRA
The number of units is calculated by dividing the switching amount with the NAV per Unit of EquityEXTRA at the end of
the Business Day and rounded to the nearest two decimal places.
Illustration : Determining the Switching Amount
Assuming an investor wishes to switch 20,000 units in
ASnitaBOND to EquityEXTRA:
Units in ASnitaBOND to be switched out
Multiply:
Divide:
20,000.00
NAV per Unit of ASnitaBOND
RM
0.5862
Switching amount
RM
11,724.00
NAV per Unit of EquityEXTRA
RM
0.5233
ASnitaBOND
EquityEXTRA
Number of units in EquityEXTRA
Therefore:
Units before switch
Units switch (out) / in
Units after switch
22,403.98
20,000.00
0.00
(20,000.00)
22,403.98
0.00
22,403.98
Transaction Details
Who Can Invest


Local and foreign individuals, investing in single or joint names (joint-holders). Persons under the age of 18 are to
jointly hold the investment with an adult.
Corporate entities, trusts, co-operatives and foundations.
How can I Purchase or Liquidate an Investment?
Investments can be purchased or liquidated at the Management Company‟s office in Kuala Lumpur or at our
authorised distributors or at our Johor Bahru Service Centre after completing an application form. Application to invest
must be accompanied by either a copy of the applicant‟s identity card, passport or other identification.
Where can I obtain an Application Form?
The Management Company‟s office in Kuala Lumpur or at our authorised distributors or at our Johor Bahru Service
Centre.
Please refer to page 157 for full details.
Libra Invest Berhad
Master Prospectus
121
How do I pay for an Investment?



By way of a standing instruction, subject to the rules and regulations of the banks.
By a crossed cheque, banker‟s draft, money order or cashier‟ order made payable to Libra Invest Berhad.
By depositing into any of the Management Company‟s bank accounts below:
Maybank:
Branch
A/C. No
Kuala Lumpur
514057-646827
Standard Chartered Bank:
Branch
A/C. No
Kuala Lumpur
312-1-4359833-1
Please note that for the purpose of investor‟s protection and risk management, no cash shall be accepted by any of the
Management Company‟s representatives or staff.
Investors are advised not to make payment in cash to any individual agent when purchasing units of a Fund.
How to Liquidate My Investment




For all Funds (except MoneyEXTRA Fund), Units may be liquidated on any Business Day by completing a
liquidation form. In the case of MoneyEXTRA Fund, liquidation notice must be given to the Management
Company one (1) Business Day prior to the liquidation (i.e. T-1 day).
For a transaction to take effect on the same day, the liquidation form must reach the Management Company on
or before 3.30 p.m.
For all Funds (except MoneyEXTRA Fund, LLF and LSLF Series 2), the liquidation of Units will be priced at NAV
per Unit calculated at the next valuation point and payment will be made within ten (10) calendar days upon
receipt of the duly completed original liquidation form by the Management Company. In the case of
MoneyEXTRA, LLF and LSLF Series 2, the Management Company will use best efforts to make payment on the
next Business Day (T+1 day).
There is no limit as to frequency of liquidation transactions.
Minimum Transaction Details for each Fund
The minimum transaction details for each Fund are stipulated in the table below:
Minimum
Minimum
Fund name
initial
Minimum additional investment
liquidation
investment
Regular
Non-regular
(RM)
(Units)
(RM)
(RM)
IncomeEXTRA
5,000.00
200.00
1,000.00
2,000
Minimum
transfer
Minimum
balance
(Units)
(Units)
5,000
5,000
EquityEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
BondEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
MoneyEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
VersatileEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
DividendEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
TacticalEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
LCLAF
5,000.00
1,000.00
2,000
5,000
5,000
50,000.00
10,000
5,000
5,000
1,000.00
2,000
5,000
5,000
LREF
5,000.00
200.00
Not
applicable
200.00
SyariahEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
ASnita
5,000.00
200.00
1,000.00
2,000
5,000
5,000
ASnitaBOND
5,000.00
1,000.00
2,000
5,000
5,000
LSLF Series 2
100,000.00
200.00
Not
applicable
5,000.00
5,000
5,000
50,000
LLF
100,000.00
Libra Invest Berhad
Master Prospectus
122
Transfer Facility
Transfer between an individual account and a corporate account is not permitted.
Switching Facility
If you invest through oneINVEST / oneINVEST Islamic, * there is no switching fee imposed on switches made
between equity Funds and non-equity Funds. This is to facilitate profit taking (if any), i.e. from holding in equity Funds
and reinvestment in fixed income Funds. Switching between Funds will be at NAV per Unit to NAV per Unit. All
switches are subject to availability of units. Switching from Shariah-compliant Funds to a conventional Fund is not
encouraged especially for Muslim Unit Holders.
*For the term of this Master Prospectus, switching facility is unlimited for Funds under the
oneINVEST
/
oneINVEST Islamic.
Minimum Switching
Minimum switching under the oneINVEST /
Management Company‟s discretion.
oneINVEST
Islamic is 5,000 units or such other limit at the
For the term of this Master Prospectus, the minimum transaction amount specified above may be reduced
by the Manager from time to time at its absolute discretion.
EPF Members’ Investment Scheme
EPF investor may withdraw from their EPF Account 1, to be invested in any of the EPF approved Funds (as per
requirements of the EPF Members‟ Investment Scheme). To apply for withdrawal, investors are required to also
complete a Borang KWSP 9N (AHL) for each application for withdrawal to invest via the EPF Members‟ Investment
Scheme.
Cooling-off Policy
If you are an investor investing in any funds managed by the Management Company for the first time, there is a
Cooling-off period of six (6) Business Days commencing from the date of receipt of the application by the Management
Company. You will obtain a full refund of your net investment amount and the sales charge (if applicable) within ten
(10) calendar days from the date we receive your notification to exercise this right.
The cooling-off right is only given to an investor, other than those listed below, who is investing in any funds managed
by the Management Company for the first time:



a corporation or institution;
a staff of the Management Company; and
a person registered with a body approved by the SC to deal in unit trusts.
This Cooling-off right is not applicable for your subsequent investments.
Illustration : Determining The Cooling-off Refund
Initial investment amount
Add: Sales charge (5%)
Total amount paid by investor
(RM)
10,000.00
500.00
10,500.00
The investor exercised the Cooling-off Right and notified the Management Company within six (6) Business Days
(Cooling-off Period).
Net amount payable to investor
10,500.00
Libra Invest Berhad
Master Prospectus
123
What Are the Important Points to Note before Investment

Applications receive by the Management Company before 3.30 p.m., on any Business Day will have the Units
issued at the Fund‟s NAV per Unit calculated at the end of that particular Business Day (i.e. forward pricing).

The Management Company reserves the right to accept or reject any application for Units if the information is
incomplete or if not accompanied by the required documents, or is not signed by authorised investors or where
there are any other reasonable grounds to reject it. Unsuccessful applicants will be notified and are entitled to a
full refund.
Anti-Money Laundering Policy
In compliance with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, the Management Company will
conduct a customer due diligence prior to opening an account as and when necessary to help detect any money
laundering activities. The Management Company is under an obligation to report to BNM should it suspect such
activities.
Distribution Policy and Reinvestment Policy
It is the intention of the Management Company to declare distribution of income. The amount of income to be
distributed will vary from period to period, depending on interest rates, market conditions, the performance and the
objective of the Fund. Income distribution may be made out of realised capital gains, net profit from Islamic deposit,
Islamic money market, net dividend income and other income received by the Fund.
It is also the Management Company‟s policy to automatically reinvest declared income distribution into additional Units
in the Fund at the end of the distribution day (at ex-distribution price) with no sales charge. For Unit Holders in
MoneyEXTRA, liquidation notice of one (1) Business Day prior to liquidation must be given to the Management
Company. Investors, who prefer to receive their income distributions in the form of cash payouts, may liquidate the
reinvested units arising from distribution of income on any Business Day.
Liquidation Reinvestment Policy
Cheques for payment of liquidation requests which remain unclaimed for six (6) months will at the Management
Company‟s absolute discretion be reinvested into additional Units of the Fund with no sales charge.
Any monies payable to Unit Holders that remain unclaimed after twelve (12) months from the date of payment shall be
dealt with by the Manager in accordance with the Unclaimed Moneys Act, 1965.
Libra Invest Berhad
Master Prospectus
124
13. THE MANAGEMENT COMPANY: LIBRA INVEST BERHAD
Corporate Profile of the Management Company
LIB was incorporated on 27 September 1995 and is licensed by the Securities Commission of Malaysia to undertake
the regulated activities of fund management and distribution of unit trusts. It is a member of the ECM Libra Financial
Group Berhad, a company listed on Bursa Malaysia.
As at 10 February 2016, LIB manages fourteen (14) unit trust funds, eight (8) wholesale funds and privately managed
funds with a total fund size of RM5.737 billion. LIB‟s clients include pension funds, public listed companies, state funds,
high net worth individuals and retail investors.
The unit trust funds managed by LIB are:
Fund Name
Fund Category/Type
Inception Date
Designated fund manager
IncomeEXTRA
Balance/Income and Growth
10 September 1999
EquityEXTRA
Equity/Growth
10 September 1999
Lee Chun Hong/
Elyzza Syazreen Zailan
Chen Wee Ying
BondEXTRA
Bond/Growth
8 October 2002
MoneyEXTRA
VersatileEXTRA
8 October 2002
28 October 2002
Charlene Chung Pei Nie
DividendEXTRA
Bond/Income
Balanced/Growth (and to a
lesser extent income)
Equity/Income
18 March 2005
TacticalEXTRA
Equity/Growth
18 March 2005
Lee Chun Hong
LCLAF
Equity/Growth
18 July 2007
Lee Chun Hong
LLF
Money Market/Income
18 February 2009
LREF
Equity/Capital Growth
Balanced (Shariah)/Growth (and
to a lesser extent income)
18 March 2011
Chen Wee Ying
12 March 1996
Unit Trust Funds
SyariahEXTRA
ASnita
Equity (Shariah)/Growth (and to
a lesser extent income)
4 May 1998
Lee Chun Hong
ASnitaBOND
Bond (Shariah)/Income
18 March 2005
LSLF Series 2
Money Market (Shariah)/ Income
4 February 2015
Staff Strength
As at 10 February 2016, LIB is backed by a strong team of 65 executives and 10 non-executive staff and has ample
financial and human resources with the necessary qualification and experiences to undertake the management activity
of the unit trust funds and private funds portfolio.
Libra Invest Berhad
Master Prospectus
125
Summary of Financial Position
Past performance of LIB based on the audited accounts for the last three financial years ended 31 January:
2015
2014
2013
(RM’000)
(RM’000)
(RM’000)
Paid-up Share Capital
6,500
6,500
6,500
Shareholders‟ Funds
13,862
13,008
12,477
Operating Revenue
12,768
12,762
13,062
Pre-Tax Profit
1,007
683
2,410
After Tax Profit
855
539
1,812
Past performance of LIB based on the audited accounts for the last three financial years ended 31 January:2015
2014
2013
(sen)
(sen)
(sen)
Net Earnings Per share
13
8
28
Net Dividend Per share
-
Our Roles, Duties and Responsibilities
LIB is engaged in the business of managing, administering, marketing and distributing unit trust funds. Our roles,
duties and responsibilities are as follows:



to manage and administer the Funds in a proper and efficient manner in accordance with the respective Deeds of
the Funds, the Guidelines and securities laws;
acceptable and efficacious business practice within the unit trust industry; and
the internal controls and policies in place at the Management Company.
As at 10 February 2016, the Manager is not engaged in any material litigation as plaintiff or defendant and the
Manager is not aware of any proceedings, pending or threatened or of any facts likely to give rise to any proceedings
which might materially and adversely affect its financial position or business.
Roles and Functions of the Board of Directors
The board of directors of the Management Company play a part in directing the affairs of the Management Company
and the funds under its management. The board of directors meets at least once every quarter to receive
recommendations and reports on investment activities from the investment committee of the Funds and the senior
representatives of the Management Company. There are five (5) directors and one (1) alternate director appointed to
the board of directors of LIB.
Name
Appointment Date
Datuk Kamarudin bin Md Ali
Designation (Independent / NonIndependent)
Chairman & independent director
Khairudin bin Ibrahim
Independent director
21 April 2003
Mahadzir bin Azizan
Independent director
25 April 2007
Gareth Lim Tze Xiang
Non-independent director
7 June 2012
Chin Jon Wei
Alternate director to Mr Gareth Lim Tze Xiang
5 September 2012
Lee Wei Chung
Non-independent director
28 December 2015
8 May 2007
Roles and Functions of the Investment Committee
The investment committee is responsible for the Fund‟s investment policies and guidelines, and shall review and
approve the investment strategies undertaken by the fund managers of the Fund. Investment committee meetings are
held quarterly or more frequently if required.
Libra Invest Berhad
Master Prospectus
The investment committee comprises three (3) independent members and three (2) non-independent members:
Name
Designation (Independent / non-independent)
Mahadzir bin Azizan
Chairman & independent member
Independent member
Independent member
Non-independent member
Lee Wei Chung
Non-independent member
The dates of appointment of the members of the investment committees of the Funds are as follows:
Fund Name
IncomeEXTRA
Mahadzir bin
Azizan
9 May 2007
Khairudin bin
Ibrahim
2 May 2003
Datuk Kamarudin
bin Md Ali
9 May 2007
Gareth Lim
Tze Xiang
2 Jul 2012
Lee Wei
Chung
28 Dec 2015
EquityEXTRA
9 May2007
2 May 2003
9 May 2007
2 Jul 2012
28 Dec 2015
BondEXTRA
9 May 2007
2 May 2003
9 May 2007
2 Jul 2012
28 Dec 2015
MoneyEXTRA
9 May 2007
2 May 2003
9 May 2007
2 Jul 2012
28 Dec 2015
VersatileEXTRA
9 May 2007
2 May 2003
9 May 2007
2 Jul 2012
28 Dec 2015
DividendEXTRA
9 May 2007
1 Mac 2005
9 May 2007
2 Jul 2012
28 Dec 2015
TacticalEXTRA
9 May 2007
1 Mac 2005
9 May 2007
2 Jul 2012
28 Dec 2015
LCLAF
5 June 2007
5 June 2007
5 June 2007
2 Jul 2012
28 Dec 2015
LREF
9 Aug 2010
9 Aug 2010
9 Aug 2010
2 Jul 2012
28 Dec 2015
LLF
22 Jan 2009
22 Jan 2009
22 Jan 2009
2 Jul 2012
28 Dec 2015
SyariahEXTRA
9 May 2007
17 Sept 2002
9 May 2007
2 Jul 2012
28 Dec 2015
ASnita
9 May 2007
2 May 2003
9 May 2007
2 Jul 2012
28 Dec 2015
ASnitaBOND
9 May 2007
1 Mac 2005
9 May 2007
2 Jul 2012
28 Dec 2015
LSLF Series 2
19 Jan 2015
19 Jan 2015
19 Jan 2015
19 Jan 2015
28 Dec 2015
The Board of Directors and Investment Committee Members
Name:
Position:
Chairman of the board of directors, independent director & independent investment
committee member
Qualification:
Bachelor of Science (Hons) Mechanical Engineering (University of Strathclyde, Glasgow),
Masters in Science (Engineering) (University of Birmingham, UK), Certificate Course in
Finance and Budgeting (University of Pittsburgh, America) and Post Graduate course
(Royal College of Defense Studies, UK)
Experience:
He served the Royal Malaysia Police (RMP) in various positions for more than 30 years
with his last appointment as Director of Management before retiring in 2006. He has
experience in logistics and finance, human resources management, development and
training.
Name:
Position:
Independent director & independent investment committee member
Qualification:
Degree in Accounting (Hons) (Universiti Kebangsaan Malaysia), Member of the Malaysian
Institute of Accountants (MIA) and Certified Practising Accountant (Australia).
Experience:
He is the partner of Afrizan Tarmili Khairul Azhar (Chartered Accountants). He was
previously from a big 4 international audit firm where he managed a portfolio of clients.
Currently, he sits in the Financial Statements Review Committee of the MIA, Public Practice
Committee of CPA Australia and in working groups of Malaysian Accounting Standards
Board (MASB).
126
Libra Invest Berhad
Master Prospectus
Name:
Mahadzir bin Azizan
Position:
Independent director & independent investment committee member
Qualification:
Barrister-At-Law (Lincoln‟s Inn), London
Experience:
He has more than 25 years experience in corporate legal matters. He is currently a director
of ECM Libra Financial Group Berhad, Syarikat Takaful Malaysia Berhad and RCE Capital
Berhad.
Name:
Position:
Non-independent non-executive director and non-independent investment committee
member
Qualification:
Bachelor of Arts in Economics (St. Catharine‟s College, University of Cambridge, UK)
Experience:
He began his career as part of Morgan Stanley‟s mergers and acquisitions practice in
Singapore. He was a pioneer member of the management teams at Tune Hotels and
AirAsia X where he was responsible for the est ablishment and development of each
company. He joined Plato Capital Limited in September 2009 as Head of Investments,
responsible for the formulation and implementation of overall investment strategy and is
presently the Chief Executive Officer of Plato Capital Limited.
Name:
Chin Jon Wei
Position:
Alternate director to Gareth Lim Tze Xiang
Qualification:
A CFA Charterholder (CFA), a Member of the Institute of Chartered Accountants in England
and Wales (ICAEW) and a Member of the Malaysian Institute of Accountants (MIA)
Experience:
He served his articleship in the audit department of a mid-tier accounting firm in Kuala
Lumpur where he led teams of junior executives in the financial statement audits of both
listed and owner-managed companies. He was subsequently a sell-side research equity
analyst at UOB Kay Hian covering mid to large cap listed plantation companies within the
South East Asian region. He joined the investment division of Plato Capital Limited in 2011
and is currently the Vice President of said division.
Name:
Lee Wei Chung
Position:
Chief executive officer, non-independent executive director & non-independent investment
committee member
Qualification:
BA (Hons) Economics, MSc International Banking and Financial Studies, Chartered
Financial Analyst (CFA)
Experience:
He has more than 20 years of working experience in buy and sells sides of the financial
services industry. A former portfolio manager for a family office and later general manager
of investment in Amanah Raya-JMF Asset Management. He has also taken roles as an
equity analyst and was the equity sales specialist as well as the head of dealing of
Macquarie Capital Malaysia.
Management Staff
Name:
Ong Lei Hua
Position:
Director, finance and operations
Qualification:
Fellow Member of the Association of Chartered Certified Accountants and a Member of
Malaysian Institute of Accountants
Experience:
She joined the holding company of LIB in 2000 and moved to LIB in 2006. She has more
than 20 years of experience in audit and finance. She started her career as an auditor with
Coopers & Lybrand which later became PricewaterhouseCoopers.
127
Libra Invest Berhad
Master Prospectus
Name:
Anis Zafirah Binti Ahmad Kamal
Position:
Compliance officer
Qualification:
Bachelor of Economics (Hons.), International Islamic University Malaysia
Experience:
She has more than 8 years of experience in the financial services industry covering banking,
unit trust and fund management. She joined LIB in 2014 as a Senior Compliance Executive.
Prior to that, she served AmanahRaya Investment Management Sdn Bhd in compliance, and
was earlier serving Kuwait Finance House (Malaysia) Berhad. She is the designated person
responsible for the compliance matters of LIB. She also has the necessary knowledge
pertaining to Shariah matters.
Name:
Azra-Banu binti Masheerul Hassan
Position:
Manager, legal
Qualification:
Bachelor of Laws (LL.B) (Hons)
Experience:
She has been working as an advocate and solicitor since 1996, doing mainly conveyancing
matters (including banking matters). She joined ECM Libra Investment Bank Berhad in 2010
and moved on to LIB in 2012.
128
Duties and Responsibilities of the Fund Managers
LIB‟s fund managers are authorized to manage the Funds in accordance with the Funds‟ stated investment objective.
This authority is subject to the requirements of this Master Prospectus, the respective Deeds, Guidelines and relevant
laws, acceptable and efficacious business practice within the unit trust industry, the policies and internal controls in
place of the Management Company. The fund managers will report to the investment committee of the Fund and will
implement the investment strategies selected by this committee.
Profile Of Key Investment Personnel
Name:
Lee Wei Chung
Position:
Chief executive officer & non-independent executive director
Qualification:
Please refer to page 127
Experience:
Please refer to page 127
Name:
Elyzza Syazreen binti Zailan
Position:
Head of fixed income
Qualification:
Bachelor of Science in Actuarial Science (University of Illinois, Urbana-Champaign, USA),
Distinction
Experience:
She started her career with ECM Libra Investment Bank Berhad under the management
associate trainee programme in 2009 where she completed training in treasury sales,
institutional stockbroking, equity research, asset management and investment banking.
Upon completing the programme, she was subsequently selected to join LIB in 2010.
Before she was promoted to head of fixed income, she held the position of senior fund
manager, where she assisted the chief investment officer-fixed income in overseeing the
overall fixed income fund performance and growth of asset under management. She has
five (5) years of experience in fund management, economics and fixed income research.
She currently holds a Capital Markets Services Representative‟s Licence.
Libra Invest Berhad
Master Prospectus
Name:
David Yong Siew Huen
Position:
Fund manager
Qualification:
The Association of Chartered Certified Accountants (ACCA)
Experience:
Having garnered nine (9) years of audit and commercial accounting experience, he started
his financial industry career in 1992 with Arab-Malaysian Securities as an analyst. In 1995
he moved to institutional sales handling a portfolio of foreign broker-dealers, local
institutions/corporates and high net-worth individuals. He joined ECM Libra Investment
Bank in 2008 to do corporate broking (sales) before transferring to LIB in December 2012.
He holds a Capital Markets Services Representative‟s Licence.
Name:
Joy-Marina Choong Wai Kwin
Position:
Fund manager
Qualification:
Bachelor of Business in Economics & Finance (RMIT University, Australia)
Experience:
She joined LIB in 2010. Prior to that she was with Hong Leong Bank Berhad, where she
has 11 years of experience in credit management and recovery. She has five (5) years of
experience in fund management and credit analysis, and holds a Capital Markets Services
Representative‟s Licence.
Name:
Ong Eu Lin
Position:
Fund manager
Qualification:
Bachelor of Economics, University of Malaya
Experience:
She joined ECM Libra Investment Bank Berhad under the management associate trainee
programme in 2009 where she completed training in treasury sales, institutional
stockbroking, equity research, asset management and investment banking. Upon
completing the programme, she was subsequently selected to join LIB in 2010. She has
five (5) years of experience in fund management, economics and fixed income research.
She currently holds a Capital Markets Services Representative‟s Licence.
Name:
Position:
Fund manager
Qualification:
MSc In Accountancy & Finance (Birmingham City University, UK) and The Association of
Chartered Certified Accountants (ACCA)
Experience:
She started her career at ECM Libra Investment Bank Berhad under the Management
Associate Programme in 2011 whereby she completed her training in finance, internal
audit, compliance, risk management, credit, research and asset management. Upon
completion of the programme, she was subsequently selected to join LIB in 2012. She has
three (3) years of experience in fund management and equity research. She currently holds
a Capital Markets Services Representative‟s Licence.
Name:
Chen Wee Ying
Position:
Fund manager
Qualification:
Master in Mathematics (University of St. Andrews)
Experience:
She started her career at ECM Libra Investment Bank Berhad under the Management
Associate Programme in 2011 whereby she completed her training in future, asset
management, finance, risk management, compliance and research. Upon completion of
the programme, she was subsequently selected to join LIB in 2012. She has three (3)
years of experience in fund management and equity research. She currently holds a
Capital Markets Services Representative‟s Licence.
129
Libra Invest Berhad
Master Prospectus
Name:
Aaron Agnel Dasan
Position:
Fund manager
Qualification:
BA Economics, University of Missouri – Kansas City, USA
Experience:
He has more than 10 years of experience in Equities and Capital markets. He began his
career in Corporate Finance with Aseambankers Malaysia Berhad (now Maybank
Investment Bank Berhad) in 2005 and was primarily involved in mergers and acquisitions.
He subsequently moved to Al Rajhi Investment Bank (Malaysia) Berhad in 2008 where he
was involved in regional Corporate Banking and Structured & Project Finance transactions.
In 2011, he joined ECM Libra Investment Bank Berhad (ECMLIB) and was involved in
advisory and initial public offerings and thereafter absorbed into Kenanga Investment Bank
Berhad (Kenanga) following the sale of ECMLIB to Kenanga. He returned to ECM Libra
Financial Group in 2014 and was transferred to Libra Invest Berhad in 2015. He currently
holds a Capital Markets Services Representative‟s Licence.
Name:
Lee Chun Hong
Position:
Fund manager
Qualification:
Bachelor of Commerce (Accounting & Finance), Certified Public Accountant (CPA),
Chartered Financial Analyst (CFA)
Experience:
He has 10 years working experience in fund management industry. He joined Libra Invest
Berhad in 2015. Prior to joining LIB, he has taken a role as an equity research analyst and
subsequently promoted to portfolio manager in Public Mutual Bhd where he had gained
experience in equity research and portfolio construction. He commenced his career as an
auditor at an international public accounting firm, PricewaterhouseCoopers before moving
to fund management.
130
Libra Invest Berhad
Master Prospectus
131
14. THE SHARIAH ADVISER
Corporate Profile of the Shariah Adviser
IBFIM has been appointed as the Shariah Adviser for Libra Amanah Saham Wanita, Libra ASnitaBOND Fund, Libra
SyariahEXTRA Fund and Libra Shariah Liquidity Fund Series 2 (“the Funds”). IBFIM is scheduled to hold regular
meeting with the Manager and/or the investment committee of the Funds on a quarterly basis. IBFIM will advise the
Manager on the selection of investment tools to be adopted. IBFIM will also counsel the mechanism of the operations
of the Funds‟ activities to ensure that the operations of the Funds comply with Shariah requirements.
General Information of IBFIM
IBFIM was incorporated as a company limited by guarantee and not having share capital in Malaysia under the
Companies Act, 1965 on 15 February 2007.
Experience in Advisory and Services
IBFIM is registered with the SC to act as a Shariah Adviser for Shariah-compliant collective investment schemes and
sukuk issuance. IBFIM is also involved in numerous Shariah-compliant private mandates as well as the Shariah
Adviser for Islamic REITs and Islamic asset management houses.
As at 10 February 2016, IBFIM has total staff strength of 94 employees, and has 120 funds under its supervision.
Roles and Responsibilities of IBFIM as the Shariah Adviser
As the Shariah Adviser, the role of IBFIM is to ensure that the operations and investments of the Funds are in
compliance with Shariah requirements. The Shariah Adviser reviews the Funds‟ investments on a monthly basis to
ensure compliance with Shariah requirements at all times and meets with the Manager on a quarterly basis to review
and advise on the Funds‟ compliance with Shariah requirements. Final responsibility for ensuring Shariah compliance
of the Funds with Shariah requirements in all relevant aspects rests solely with the Manager.
In line with the Guidelines, the roles of IBFIM as the Shariah Adviser are;
1.
ensuring that the Shariah-compliant unit trust fund (“the Funds”) are managed and administered in accordance
with the Shariah principles;
2.
providing expertise and guidance for the Funds in all matters relating to Shariah principles, including on the
Funds‟ Deed and Prospectus, its structure and investment process, and other operational and administrative
matters;
3.
consulting the SC who may consult the SACSC where there is any ambiguity or uncertainty as to an investment,
instrument, system, procedure and/or process;
4.
scrutinising the Funds‟ compliance report as provided by the compliance officer, transaction report provided by or
duly approved by the Trustee and any other report deemed necessary for the purpose of ensuring that the Funds‟
investments are in line with the Shariah principles;
5.
preparing a report to be included in the Funds‟ interim and annual report certifying whether the Funds have been
managed and administered in accordance with the Shariah principles;
6.
ensuring that the Funds comply, with any guideline, ruling or decision issued by the SC, with regard to Shariah
matters;
7.
vetting and advising on the promotional materials of the Funds; and
8.
assisting and attending to any ad-hoc meeting called by the SC and/or any other relevant authority.
Libra Invest Berhad
Master Prospectus
Profile of the Shariah Team
IBFIM‟s Shariah team consist of the following personnel:
Name
Dato’ Mohd Bakir bin Haji Mansor
Position:
Distinguished Shariah Advisor
Qualification:
Shahadah Ulya (Kolej Islam Malaya)
Experience:
He is a member of the Shariah Advisory Body of Syarikat Takaful Malaysia Berhad and sits
on the Shariah Panel Committee of Amanah Ikhtiar Malaysia. He is also the Chairman of the
Shariah Advisory Committee of BIMB Securities Sdn. Bhd.
Prior to joining IBFIM, Dato‟ Mohd Bakir was the Shariah Coordinator at Bank Islam Malaysia
Berhad (“BIMB”) and the Secretary of the Shariah Advisory Council of BIMB, from 1984 to
2001. Previously, he served at the National Council for Islamic Religious Affairs in the Prime
Minister's Department for 10 years from 1971. He was also a Chief Assistant Director at the
Islamic Research Centre for 4 years from 1981. He holds a Shahadah Ulya from Kolej Islam
Malaya.
Dato‟ Mohd Bakir was awarded “Anugerah Maulidur Rasul 1434H/2013M” by the government
of Malaysia for his contributions in promoting the Islamic finance industry.
Name:
Mohd Nasir bin Ismail
Position:
Shariah Advisor
Qualification:
Bachelor of Shariah (Hons) (University of Malaya) and Islamic Financial Planner (IFP)
Experience:
He has been with IBFIM since its incorporation in 2001. He is responsible in providing
Shariah input on the advisory, consultancy and research functions with regard to Islamic
banking, takaful, Islamic capital market and Shariah-compliant unit trust funds. Prior to joining
IBFIM, he was a faculty member of a private higher learning institution specializing in Islamic
studies, Institut Pengajian Ilmu-Ilmu Islam, Kelantan. He graduated with a Bachelor of
Shariah (Honours) Degree from the University of Malaya. He is also a designated person
responsible for Shariah matters related to the Funds.
Name:
Ahmad Zakirullah bin Mohamed Shaarani
Position:
Senior Shariah Officer
Qualification:
Master in Islamic Revealed Knowledge and Human Sciences (Honours) (International Islamic
University of Malaysia)
Experience:
He joined IBFIM in February 2008. He is responsible in providing Shariah input on the
advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic
capital market and Shariah-compliant unit trust funds. Prior to joining IBFIM, he served at
University Sains Islam Malaysia and PTPL College. He obtained his Diploma of Shariah
Islamiyyah (Honours) from Higher Institute of Islamic and Arabic Language (MADIWA),
Perak, Bachelor of Shariah Islamiyyah (Honours) Degree from Al-Azhar University, Egypt
and Master‟s Degree (with Honours) of Islamic Revealed Knowledge and Heritage (Fiqh and
Usul al-Fiqh) from the International Islamic University Malaysia. He is also a designated
person responsible for Shariah matters related to the Funds.
132
Libra Invest Berhad
Master Prospectus
133
15. THE TRUSTEE
Maybank Trustees Berhad (“MTB”) is the appointed Trustee for IncomeEXTRA, EquityEXTRA, MoneyEXTRA,
BondEXTRA, VersatileEXTRA, TacticalEXTRA, ASnita and SyariahEXTRA.
Corporate Profile of the Trustee
Name of Trustee
:
Registered Office
:
50050 Kuala Lumpur
Date of Incorporation
Staff Strength
:
:
Funds under Trusteeship
:
Directors
:
12 April 1963
As at 10 February 2016, the Trustee has a total of 33 staff, comprising twenty
six (26) executives and seven (7) non-executives.
Sixty (60) unit trust funds, five (5) wholesale funds and four (4) real estate
investment trusts/property trust funds and one (1) private retirement scheme
(consisting of four (4) funds) as at 10 February 2016
Encik Zainal Abidin Jamal (Non independent non-executive director &
chairman)
Dato‟ Mohd. Hanif bin Suadi (Non-independent non-executive director)
Dato‟ Dr Tan Tat Wai (Independent non-executive director)
Ms Ong Sau Yin (Independent non-executive director)
Financial Position
The following is a summary of the past performance of MTB based on audited accounts for the past 3 financial years:
Financial Year Ended
31 December
31 December
31 December
2014
2013
2012
(RM)
(RM)
(RM)
500,000
500,000
500,000
Shareholders‟ funds
31,450,665
21,002,473
12,107,452
Turnover
25,573,893
21,316,197
14,047,931
Pre-tax Profit
14,090,866
11,826,263
4,571,241
After tax Profit
10,448,192
8,895,021
3,428,577
Experience in Trustee Business
With more than 22 years of experience as Trustee to unit trust funds/schemes, Maybank Trustees Berhad has under
its trusteeship a total of sixty (60) unit trust funds, five (5) wholesale funds, one (1) private retirement scheme
(consisting of four (4) funds) and four (4) real estate investment trust/property trust funds as at 10 February 2016.
Key Personnel
Mr Chong Kin Tuck – Chief Executive Officer
Mr Chong Kin Tuck joined MTB in September 2014. Kin Tuck has more than 20 years of work experience in the
banking industry, covering Securities Services and Lending. This includes a banking career in Citibank for 20 years;
covering Loans operations, Mortgage business, Share Financing & Investment operations, Securities & Fund Services
operations, Securities Services product development and most recently as Head of Direct Custody & Clearing at J.P
Morgan Chase Bank Berhad.
Libra Invest Berhad
Master Prospectus
134
Mr Samuel Hwa - Head, Business Development & Strategies
Mr Samuel Hwa joined MTB in August 2013. He holds a Bachelor of Law degree from the University of London and a
Bachelor of Science in Business from Pennsylvania State University double majoring in Finance and
Marketing/Management. He started his career in America as a business analyst and later joined an insurance
company in Malaysia. Prior to joining Maybank, he was with CIMB Investment Bank Berhad. Samuel has worked in the
Securities Services industry for over 5 years.
Ms Bernice K.M Lau - Head, Operations
Ms Bernice Lau was appointed as Head, Operations in November 2013. Prior to her appointment, she was the Head,
Corporate Trust of MTB. She joined MTB in December 2008. Prior to joining MTB, she was a Legal & Compliance
Officer of UOB Trustees Bhd which subsequently merged with OSK Trustees Berhad. She has more than 8 years of
experience in trustee industry.
She holds a LL.B (Hons) from University of London and a Certificate in Legal Practice from Legal Profession Qualifying
Board, Malaysia.
Trustee’s Statement of Responsibility
The Trustee has given its willingness to assume the position and all the obligations that come along with them under
the Deed of the Fund and all relevant written laws. The Trustee is entitled to be indemnified out of the assets of the
Fund for any liability inc urred by the Trustee in performing or exercising any of its powers or duties in relation to the
Fund. This indemnity is in addition to any indemnity allowed by law. However, it does not extend to liabilities arising
from a breach of trust or failure to show the due care and diligence required of the Trustee having regard to its powers,
authorities, and discretions under the Deed.
Roles, Duties and Responsibilities of the Trustee
The Trustee‟s role is mainly to act as custodian of the Fund and to exercise all due diligence and vigilance in carrying
out its functions and duties and to safeguard the rights and interests of the Unit Holders. Apart from being the legal
owner of the Fund‟s assets, the Trustee is responsible for ensuring that the Manager performs its obligations in
accordance with the provisions of the Deed and the relevant laws.
Delegates of the Trustee
MTB has delegated its custodian function to Malayan Banking Berhad. The custodian function is run under Maybank
Custody Services (“MCS”), a unit within Malayan Banking Berhad. MCS commenced operations in 1983 and has been
appointed as custodian of unit trust funds since 1989. MCS provides clearing and custody services for Malaysian
equity and fixed income securities to domestic and foreign institutional clients. In addition, MSC offers global custody
services to domestic institutions/clients that have foreign investments.
MTB has appointed Standard Chartered Bank Malaysia Berhad (“SCBMB”), as the custodian of the foreign assets of
the Fund. The assets are held in the name of the Fund through the custodian‟s wholly owned subsidiary and nominee
company, Cartaban Nominees (Tempatan) Sdn Bhd. The assets are automatically registered into the name of the
Fund.
SCBMB was incorporated in Malaysia on 29 February 1984 under the Companies Act 1965 as a public limited
company and its subsidiary of Standard Chartered plc (the holding company of a global banking group). SCBMB was
granted a license on 1 July 1994 under the Banking and Financial Institutions Act, 1989. SCBMB has been providing
custody services for more than twenty (20) years. SCBMB has been providing sub-custody services to local investors
in Malaysia since 1995.
Both custodians act only in accordance with instructions from the Trustee.
Libra Invest Berhad
Master Prospectus
135
As at 10 February 2016, save for the suits mentioned herein below, the Trustee is not engaged in any material
litigation as plaintiff or defendant and the Trustee is not aware of any proceedings, pending or threatened or of any
facts likely to give rise to any proceedings which might materially and adversely affect its financial position or business.
1.
The bondholders of the Al-Bai Bithaman Ajil (“ABBA”) bonds (“bondholders”) issued by Pesaka Astana (M)
Sdn Bhd (“PASB”) have sued PASB for its failure to meet its bonds payment obligations under Kuala Lumpur
High Court Civil Suit No. D5(D6)-22-1810-2005 (“ABBA Suit”) and cited the Trustee as one of 12 codefendants in the ABBA Suit. The claim in the ABBA Suit is for RM149,315,000.00 or any other sum that the
Court deems fit. The other defendants in the ABBA Suit include among others the Arranger, PASB‟s Chief
Executive Officer, one of PASB‟s directors and associate companies of the Chief Executive Officer and the
said director. The Trustee has defended the ABBA Suit and its trial has concluded.
The Trustee had appealed against the decision made by the High Court on 30 June 2010 in respect of the
ABBA Suit in awarding judgement against it. The appeals proceeded on 22, 23, 26, 27, 28, 29 and 30
September 2011 and 3 October 2011. The Court of Appeal had on 8 November 2011 awarded the Trustee
and the Arranger a limited indemnity against PASB, PASB‟s Chief Executive Officer, one of PASB‟s directors
and associate companies of the Chief Executive Officer and the said director (collectively “PASB And Their
Associated Defendants”) but found the Trustee and the Arranger equally liable to the bondholders. The
Federal Court had on 5 April 2012 granted the Trustee leave to appeal to the Federal Court against certain
parts of the decision of the Court of Appeal (“Federal Court Appeal”). The Federal Court Appeal was heard on
6, 7, 8, 20, 21 and 23 November 2012 and on 2, 3 and 4 January 2013. The hearing dates of 17 to 19 October
2012 and 19 November 2012 were vacated.
The Federal Court had on 10 February 2014 delivered its decision (“Decision”) wherein it had, among others,
allowed the Trustee a full indemnity against PASB And Their Associated Defendants and reduced the
judgement sum against the Trustee to approximately RM107 million without apportionment of liability against
the Arranger.
PASB‟s Chief Executive Officer and associate companies of the Chief Executive Officer (collectively the
“Pesaka Defendants”) had filed an application for the Federal Court to grant leave to review its Decision
against them (“Review Application 1”). On 29 September 2014, the Federal Court allowed the Pesaka
Defendants‟ application to withdraw Review Application 1.
Most of the bondholders had filed an application for the Federal Court to grant leave to review its Decision in
finding the Arranger not liable (“Review Application 2”). On 29 September 2014, the Federal Court dismissed
Review Application 2.
2.
Connected to the ABBA Suit, Amanah Short Deposits Berhad [now MIDF Amanah Investment Bank Berhad
(“MIDF”)], a Noteholder of the Combined Commercial Papers and/or Medium Term Notes/Letters of
Credit/Financial Guarantee Facilities (“CP/MTN”) totalling RM13 million and issued by PASB, has sued PASB
for full payment under the CP/MTN arising from a cross-default by PASB under its ABBA bonds under Kuala
Lumpur High Court Civil Suit No. D2-22-1085-2006 (“CP/MTN Suit”). The Trustee was cited as one of 5 codefendants in the CP/MTN Suit. The claim in the CP/MTN Suit is for RM13 million or any other sum that the
Court deems fit and damages. The other defendants in the CP/MTN Suit are the Arranger, PASB‟s Chief
Executive Officer and one of PASB‟s directors. MIDF withdrew its claim against the Arranger in November
2014. The Trustee has defended the CP/MTN Suit and trial has concluded. On 14 August 2015, the High
Court dismissed MIDF‟s claim against the Trustee (“Dismissal”) and found PASB‟s Chief Executive Officer and
one of PASB‟s directors liable for MIDF‟s loss. MIDF has filed a Notice of Appeal against the Dismissal
(“Appeal”). The Appeal is scheduled for hearing on 16 March 2016.
The Trustee has obtained leave of the court to proceed with the actions against PASB given that further to an
unrelated suit a provisional liquidator had been appointed against PASB. The Trustee has also obtained leave
of the court to proceed with the actions against PASB following the court's order to wind-up PASB further to
the unrelated suit.
In any event, any successful claim that may be established against the Trustee will be covered by the
Trustee‟s insurer and/or Malayan Banking Berhad as the ultimate holding company of the Trustee. As such,
the ABBA Suit and the CP/MTN Suit will not materially affect the business or financial position of the Trustee.
Libra Invest Berhad
Master Prospectus
3.
136
Several holders of the bonds (“Bondholders”) issued by Aldwich Berhad [In Receivership] (“Aldwich”) have
sued Aldwich for its failure to settle its indebtedness to the Bondholders following the default of the said bonds
in 2010 and cited the Trustee as one of 6 co-defendants under Kuala Lumpur High Court Civil Suit No. D22NCC-1622-11/2012 (“Aldwich Bondholders‟ Suit”). The claim against the Trustee is for the sum of
RM177,248,747.31 or any other sum that the Court deems fit. The other defendants are the holding company
of Aldwich, the Chief Executive Officer of the holding company of Aldwich, the Security Agent and the
Reporting Accountant. The Trustee does not admit liability to the Aldwich Bondholders‟ Suit and has defended
it. Trial has concluded and oral submissions are fixed on 17 and 24 February 2016. The Aldwich Bondholders‟
Suit will not materially affect the business or financial position of the Trustee.”
Libra Invest Berhad
Master Prospectus
137
CIMB Islamic Trustee Berhad is the appointed Trustee for ASnitaBOND and LSLF Series 2.
CIMB Islamic Trustee Berhad (“CITB”)
50470 Kuala Lumpur
Malaysia
19 January 1988
Name of Trustee
Registered Office
:
:
Paid up Share Capital
:
:
Staff Strength
:
:
Fifteen (15) executives and four (4) non-executives as at 10 February 2016
48 funds as at 10 February 2016
Directors
:
Zahardin Omardin (Independent director & chairman, non-executive)
RM1,000,000 (200,000 ordinary shares of RM10 each and partly paid up RM 5
each)
Mohamad Safri Shahul Hamid (Non-independent director, non-executive)
Liew Pik Yoong (Non-independent director, executive)
Chief Executive Officer
:
Liew Pik Yoong
Financial Position
The following is a summary of the past performance of CITB based on audited accounts for the past three (3) financial
years ended 31 December.
2014
Year Ended 31 December
2013
2012
(RM’000)
(RM’000)
(RM’000)
Turnover*
1,000
5,018
3,403
1,000
6,573
2,788
1,000
6,311
4,000
Pre-tax Profit / (Loss)
After tax Profit / (Loss)
1,312
945
370
263
1,386
993
*Only Shariah-compliant income are recognised since the entity’s conversion to Islamic in 2012.
As at 10 February 2016, CITB acts as trustee to one (1) real estate investment trust funds, 22 unit trust funds,
22 wholesale funds and one (1) private retirement scheme (consisting of three (3) funds) and has more than 26 years
of experience as trustees to unit trust funds.
In addition to overseeing these funds, CITB also acts as trustee to private debt securities issues such as sukuk, bonds
and notes. Other than being the administrator of deceased‟s estates, executor of wills, trustee for minors or
incapacitated persons, CITB also acts as trustee for public, charitable, staff retirement, and pension/ gratuity fund
scheme, custodian trustee for associations, clubs and others.
CITB is supported by nineteen (19) staff, comprising of fifteen (15) executives and four (4) non-executive as at
10 February 2016.
Key Personnel
Liew Pik Yoong, Susan (Chief Executive Officer)
Susan holds the position of CEO, Group Trustee Services in addition to her role as Head of Securities Services in
CIMB. She joined CIMB in 2011 and has over 28 years experience in the financial market and securities industry. Prior
to CIMB, she held various leadership roles such as Head/Director of Investors & Intermediaries, Head of Securities
Services, Vice President/HOD with local foreign banks responsible for capital market products such as custody,
nominees, unit trust, fund administration and share margin services. She was also previously Chief Operating Officer
with a local foreign trustee company. Susan holds a professional degree from the Institute of Chartered Secretaries &
Administrators (ICSA)
Libra Invest Berhad
Master Prospectus
138
Lee Kooi Yoke (Chief Operating Officer)
Ms Lee holds a Bachelor Degree in Administration (Finance) from Griffith University, Australia and she is a member of
both the Certified Practising Accountants (CPA) Australia and the Malaysia Institute of Accountant and Financial
Planning Association Malaysia. She has more than 22 years of working experience in the financial industry. Prior to
her current appointment, she headed the operations of a unit trust management company responsible for transfer
agency, investment back-office, system and projects and retail and corporate agency operations. Also, prior to this
position, she headed the investment operations of an established insurance company in Malaysia and Singapore.
Roles, Duties & Responsibilities of the Trustee
The Trustee‟s functions, duties and responsibilities are set out in the Deed. The general functions, duties and
responsibilities of the Trustee include, but are not limited to, the following:
(a)
Take into custody the investments of the Fund and hold the investments in trust for the Unit Holders;
(b)
Ensure that the Manager operates and administers the Fund in accordance with the provisions of the Deed,
SC Guidelines and acceptable business practice within the unit trust industry;
(c)
As soon as practicable notify the SC of any irregularity or breach of the provisions of the Deed, SC Guidelines
and any other matters which in the Trustee's opinions may indicate that the interests of Unit Holders are not
served;
(d)
Exercise reasonable diligence in carrying out its functions and duties, in actively monitoring the operations and
management of the Fund by the Manager to safeguard the interests of Unit Holders;
(e)
Maintain, or cause the Manager to maintain, proper accounting records and other records as are
necessary to enable a complete and accurate view of the Fund to be formed and to ensure that the Fund is
operated and managed in accordance with the Deed of the Fund, Prospectus, the SC Guidelines and
securities law; and
(f)
Require that the accounts be audited at least annually.
The Trustee has covenanted in the Deed that it will exercise all due diligence and vigilance in carrying out its functions
and duties, and in safeguarding the rights and interests of Unit Holders.
The Trustee has given its willingness to assume the position as Trustee of the Fund and all the obligations in
accordance with the Deed, all relevant laws and rules of law.
Trustee’s Declaration
The Trustee is independent of the Manager. The Trustee will carry out transactions on an arm‟s length basis and on
terms which are best available for the Fund, as well as act at all times in the best interest of the Fund‟s unitholders.
The Trustee also has adequate procedures and processes in place to prevent or control conflict of interest.
Trustee’s Delegate
CITB has appointed CIMB Islamic Bank Berhad (CIMB Islamic Bank) as the Custodian of the Fund‟s assets. CIMB
Islamic Bank's ultimate holding company is CIMB Group Holdings Berhad. a listed company in Bursa Malaysia and
currently the second largest financial services provider in Malaysia.
CIMB Islamic Bank provides full fledged custodial services, typically clearing settlement and safekeep all types of
investment assets and classes, to a cross section of investors and intermediaries client base, both locally and
overseas. For the local Ringgit assets, they are held through its wholly owned nominee subsidiary “CIMB Islamic
Nominees (Tempatan) Sdn Bhd”.
For foreign non-Ringgit assets, CIMB Islamic Bank appoints global custodian as its agent bank to clear, settle and
safekeep on its behalf and to its order. The appointed global custodians are Citibank N. A, Singapore and BNP Paribas
Securities Services, Singapore
All investments are automatically registered in the name of the custodian to the order of the Trustee. CIMB Islamic
Bank Berhad acts only in accordance with instructions from the Trustee.
Libra Invest Berhad
Master Prospectus
139
As at 10 February 2016, CITB is not engaged in any material litigation and arbitration, including those pending or
threatened, and is not aware of any facts likely to give rise to any proceedings which might materially affect the
business/financial position of the Trustee or any of its delegates.
Trustee’s Obligation
The Trustee‟s obligation in respect of monies paid by an investor for the application of units arises when the monies
are received in the relevant account of the Trustee for the Funds and the Trustee‟s obligation is discharged once it has
paid the redemption amount to the Manager.
Libra Invest Berhad
Master Prospectus
140
CIMB Commerce Trustee Berhad is the appointed Trustee for LREF, DividendEXTRA, LCLAF and LLF.
Name of Trustee
: CIMB Commerce Trustee Berhad (“CCTB”)
Registered Office
: Level 13, Menara CIMB
50470 Kuala Lumpur
Malaysia
: 25 August 1994
Paid up Share Capital
:
Staff Strength
:
RM1,750,000 (350,000 ordinary shares of RM10 each and partly paid up RM 5
each)
25 executives as at 10 February 2016
Directors
:
77 funds as at 10 February 2016
:
Zahardin Omardin (Independent director & chairman, non-executive)
Chan Swee Liang Carolina (Non-independent director, non-executive)
Liew Pik Yoong (Non-independent director, executive)
Chief Executive Officer
:
Liew Pik Yoong
Financial Position
The following is a summary of the past performance of CCTB based on audited accounts for the past three (3)
financial years ended 31 December.
2014
Year Ended 31 December
2013
2012
RM’000
(RM’000)
(RM’000)
1,750
1,750
1,750
Turnover
Pre-tax Profit / (Loss)
10,375
9,872
5,692
11,739
8,502
4,216
8,600
7,917
2,596
After tax Profit / (Loss)
4,236
3,138
1,999
As at 10 February 2016, CCTB acts as trustee to one (1) real estate investment trust fund, fifty six (56) unit trust funds,
one (1) private retirement scheme (consisting of five (5) funds) and fifteen (15) wholesale funds and has more than
twenty (20) years of experience as trustee to unit trust funds.
Key Personnel
Liew Pik Yoong, Susan (Chief Executive Officer)
Susan holds the position of CEO, Group Trustee Services in addition to her role as Head of Securities Services in
CIMB. She joined CIMB in 2011 and has over 28 years experience in the financial market and securities industry. Prior
to CIMB, she held various leadership roles such as Head/Director of Investors & Intermediaries, Head of Securities
Services, Vice President/HOD with local foreign banks responsible for capital market products such as custody,
nominees, unit trust, fund administration and share margin services. She was also previously Chief Operating Officer
with a local foreign trustee company. Susan holds a professional degree from the Institute of Chartered Secretaries &
Administrators (ICSA)
Lee Kooi Yoke (Chief Operating Officer)
Ms Lee holds a Bachelor Degree in Administration (Finance) from Griffith University, Australia and she is a member of
both the Certified Practising Accountants (CPA) Australia and the Malaysia Institute of Accountant and Financial
Planning Association Malaysia. She has more than 22 years of working experience in the financial industry. Prior to
her current appointment, she headed the operations of a unit trust management company responsible for transfer
agency, investment back-office, system and projects and retail and corporate agency operations. Also, prior to this
position, she headed the investment operations of an established insurance company in Malaysia and Singapore.
Libra Invest Berhad
Master Prospectus
141
Roles, Duties & Responsibilities of the Trustee
The Trustee‟s functions, duties and responsibilities are set out in the Deed. The general functions, duties and
responsibilities of the Trustee include, but are not limited to, the following:
(a)
Take into custody the investments of the Fund and hold the investments in trust for the Unit Holders;
(b)
Ensure that the Manager operates and administers the Fund in accordance with the provisions of the Deed,
SC Guidelines and acceptable business practice within the unit trust industry;
(c)
As soon as practicable notify the SC of any irregularity or breach of the provisions of the Deed, SC Guidelines
and any other matters which in the Trustee's opinions may indicate that the interests of Unit Holders are not
served;
(d)
Exercise reasonable diligence in carrying out its functions and duties, in actively monitoring the
operations and management of the Fund by the Manager to safeguard the interests of Unit Holders;
(e)
Maintain, or cause the Manager to maintain, proper accounting records and other records as are necessary to
enable a complete and accurate view of the Fund to be formed and to ensure that the Fund is operated and
managed in accordance with the Deed of the Fund, Prospectus, the SC Guidelines and securities law; and
(f)
Require that the accounts be audited at least annually.
The Trustee has covenanted in the Deed that it will exercise all due diligence and vigilance in carrying out its functions
and duties, and in safeguarding the rights and interests of Unit Holders.
The Trustee has given its willingness to assume the position as Trustee of the Fund and all the obligations in
accordance with the Deed, all relevant laws and rules of law.
Trustee’s Declaration
The Trustee is independent of the Manager. The Trustee will carry out transactions on an arm‟s length basis and on
terms which are best available for the Fund, as well as act at all times in the best interest of the Fund‟s Unit Holders.
The Trustee also has adequate procedures and processes in place to prevent or control conflicts of interest.
Trustee’s Delegate
CCTB appointed CIMB Bank Berhad (CIMB Bank) as the Custodian of the Fund‟s assets. CIMB Bank's ultimate
holding company is CIMB Group Holdings Berhad, a listed company in Bursa Malaysia and currently the second
largest financial services provider in Malaysia.
CIMB Bank provides full fledged custodial services, typically clearing settlement and safekeeping all types of
investment assets and classes, to a cross section of investors and intermediaries client base, both locally and
overseas. For the local Ringgit assets, they are held through its wholly owned nominee subsidiary “CIMB Group
Nominees (Tempatan) Sdn Bhd”.
For foreign non-Ringgit assets, CIMB Bank appoints global custodian as its agent bank to clear, settle and safekeep
on its behalf and to its order. The appointed global custodians are Citibank N. A, Singapore and BNP Paribas
Securities Services, Singapore
All investments are automatically registered in the name of the custodian to the order of the Trustee. CIMB Bank
Berhad acts only in accordance with instructions from the Trustee.
As at 10 February 2016, CCTB is not engaged in any material litigation and arbitration, including those pending or
threatened, and is not aware of any facts likely to give rise to any proceedings which might materially affect the
business/financial position of the Trustee or any of its delegates.
Libra Invest Berhad
Master Prospectus
142
Trustee’s Obligation
The Trustee‟s obligation in respect of monies paid by an investor for the application of units arises when the monies
are received in the relevant account of the Trustee for the Funds and the Trustee‟s obligation is discharged once it has
paid the redemption amount to the Manager.
Libra Invest Berhad
Master Prospectus
143
16. SALIENT TERMS OF THE DEED
Recognition of Unit Holders
You shall be recognised as a Unit Holder when you are registered as the holder of units of the Funds. All Unit Holders
are entitled to the benefit of, be bound by and be deemed to have notice of the provisions of the Deeds.
Please be advised that if you invest in Units through an IUTA which adopts the nominee system of ownership,
you would not be considered to be a Unit Holder under the Deed and you may, consequently, not have all the
rights ordinarily exercisable by a Unit Holder (for example, the right to call for a Unit Holder’s Meeting and to
vote thereat and the right to have your particulars appearing in the register of Unit Holders of the Fund).
Rights
Unit Holders will:





Be entitled to receive distributions of income in accordance with the discretion of the Management Company in
consultation with the Trustee;
Be entitled to participate in any increase in the value of the units and such other rights and privileges provided for
in the Deed;
Be entitled to be informed of the respective Fund‟s performance by way of interim and annual reports;
Be entitled to call for a Unit Holders‟ meeting, and vote for the removal of the Trustee or the Management
Company through a Special Resolution; and
Be entitled to exercise the cooling-off (if applicable).
Liabilities
Unit Holders will:



Not be entitled to request for transfer to them of any assets held by the Fund or be entitled to interfere with the
exercise by the Trustee or the Management Company on their behalf, of the rights of the Trustee as registered
owner of such assets;
Not be liable for any amount in excess of the purchase price paid for their units or for any charges payable in
relation to those units; and
Not be obligated to indemnify the Trustee and/or the Management Company in the event, that the liabilities
incurred on behalf of the Fund exceed the net asset value of the Fund.
Suspension and Deferrals
Under the provisions of the Deed, the Trustee may suspend the sale or repurchase of Units in any such event where in
the opinion of the Trustee:


The interests of Unit Holders or potential Unit Holders would be materially affected if the sale and/or repurchased
of Units were not suspended whereupon the Trustee shall immediately call a Unit Holders‟ meeting to decide on
the next course of action; or
The circumstances are exceptional, and there is good and sufficient reason to do so, in which case the period of
suspension shall not exceed 21 days unless the consent of Unit Holders is received.
Libra Invest Berhad
Master Prospectus
Maximum Fees and Charges Permitted by the Deed
Fund Name
Annual Management
Annual Trustee Fee
Fee
% per annum of the Fund‟s NAV
Repurchase
Charge
Sales Charge
IncomeEXTRA
3.0
0.2
10
5
EquityEXTRA
3.0
0.2
10
5
DvidendEXTRA
3.0
0.2
(including local
custodian fees and
charges but excluding
foreign custodian fees
and charges)
10
5
BondEXTRA
3.0
0.2
10
5
MoneyEXTRA
3.0
0.2
10
5
Nil
Nil
10
5
10
5
10
5
5
Nil
10
5
LLF
0.5
VersatileEXTRA
3.0
0.08
(subject to a minimum
RM18,000 per annum
calculated and
accrued daily)
(excluding foreign
custodian fees and
charges)
0.2
TacticalEXTRA
3.0
0.2
LCLAF
3.0
LREF
2.0
0.2
of RM18,000 per
annum calculated and
accrued daily,
including local
custodian fees and
charges but excluding
and charges)
0.1
of RM18,000 per
annum before the
deduction of the
management fee and
trustee fee for the
relevant day excluding
and charges)
ASnitaBOND
3.0
0.2
(including local
custodian fees and
charges)
ASnita
2.0
0.3
RM50,000 per annum)
10
5
SyariahEXTRA
1.5
0.1
10
5
LSLF Series 2
0.3
0.02
Nil
Nil
144
Libra Invest Berhad
Master Prospectus
145
Procedures to Increase the Direct Charges and Indirect Fees
Sales Charge
The Management Company may not charge a sales charge at a rate higher than that disclosed in this Master
Prospectus unless:
a)
the Management Company has notified the Trustee in writing of and the effective date for the higher charge;
b)
a supplemental / replacement prospectus stating the higher charge is issued; and
c)
thirty (30) days have elapsed since the effective date of the supplemental / replacement prospectus.
Repurchase Charge
The Management Company may not charge a repurchase charge at a rate higher than that disclosed in this Master
Prospectus unless:
a)
the Management Company has notified the Trustee in writing of and the effective date for the higher charge;
b)
a supplemental / replacement prospectus in stating the higher charge is issued; and
c)
thirty (30) days have elapsed since the effective date of the supplemental / replacement prospectus.
The Management Company may not charge an annual management fee at a rate higher than that disclosed in this
Master Prospectus unless:
a)
the Management Company has come to an agreement with the Trustee on the higher rate;
b)
the Management Company has notified the Unit Holders of the higher rate and the date on which such higher
rate is to become effective; such time as may be prescribed by any relevant law shall have lapsed since the
notice is sent;
c)
a supplemental / replacement prospectus stating the higher rate is issued thereafter; and
d)
ninety (90) days have elapsed since the supplemental / replacement prospectus is issued.
Annual Trustee Fee
The Trustees may not charge an annual trustee fee at a rate higher than that disclosed in this Master Prospectus
unless:
a)
the Management Company has come to an agreement with the Trustee on the higher rate;
b)
the Management Company has notified the Unit Holders of the higher rate and the date on which such higher
rate is to become effective; such time as may be prescribed by any relevant law shall have lapsed since the
notice is sent; and
c)
a supplemental / replacement prospectus stating the higher rate is issued thereafter; and
d)
ninety (90) days have elapsed since the supplemental / replacement prospectus is issued.
Procedures to Increase the Maximum Rate of Direct Charges and Indirect Fees in the Deed
The maximum sales charge, repurchase charge, annual management fee or annual trustee fee set out in the Deed can
only be increased if a Unit Holders‟ meeting has been held in accordance with the Deed. Thereafter, a supplemental
deed proposing a modification to the Deed to increase the aforesaid charges and fees is required to be submitted for
registration with the SC accompanied by a resolution of not less than two-thirds (2/3) of all Unit Holders presents and
voting at the Unit Holders‟ meeting sanctioning the proposed modification to the Deed.
Libra Invest Berhad
Master Prospectus
146
Permitted Expenses Payable by the Funds
Only the expenses (or part thereof) which is directly related and necessary in operating and administering the Fund
may be charged to the Fund. These would include (but are not limited) to the following:
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
l)
m)
n)
o)
p)
q)
commissions/fees paid to brokers/dealers in effecting dealings in the investments of the Fund, shown on the
contract notes or confirmation notes;
taxes and other duties charged on the Fund by the government and/or other authorities;
costs, fees and expenses properly incurred by the auditor;
costs, fees and expenses incurred for the valuation of any investment of the Fund by independent valuers for
the benefit of the Fund;
costs, fees and expenses incurred for any modification of this Deed save the where such modification is for the
benefit of the Management Company and/or the Trustee;
costs, fees and expenses incurred for any meeting of Unit Holders save where such meeting is convened for the
benefit of the Management Company and/or the Trustee;
costs, commissions, fees and expenses of the sale, purchase, insurance/takaful and any other dealing of any
asset of the Fund;
costs, fees and expenses incurred in engaging any specialist approved by the Trustee for investigating or
evaluating any proposed investment of the Fund;
costs, fees and expenses incurred in engaging any valuer, adviser or contractor for the benefit of the Fund;
costs, fees and expenses incurred in the preparation and audit of the taxation, returns and accounts of the Fund;
costs, fees and expenses incurred in the termination of the Fund or the removal of the Trustee or the
Management Company and the appointment of a new trustee or management company;
costs, fees and expenses incurred in relation to any arbitration or other proceedings concerning the Fund or any
asset of the Fund, including proceedings against the Trustee or the Management Company by the other for the
benefit of the Fund (save to the extent that legal costs incurred for the defence of either of them are not ordered
by the court to be reimbursed by the Fund);
remuneration and out of pocket expenses of the independent members of the investment committee of the
Fund, unless the Management Company decides otherwise;
costs, fees and expenses deemed by the Mangement Company to have been incurred in connection with any
change or the need to comply with any change or introduction of any law, regulation or requirement (whether or
not having the force of law) of any governmental or regulatory authority;
cost and expenses incurred in relation to the distribution of income (if any);
*(where the custodial function is delegated by the Trustee) charges and fees paid to sub-custodians taking into
custody any foreign assets of the Fund; and
*cost and fees for the printing and posting of the interim reports and annual reports for the Fund.
*Note : These additional permitted expenses are applicable for LSLF Series 2 only.
Removal, Replacement, and Retirement of the Management Company and Trustee

Removal or Replacement of the Management Company
The Trustee shall take all reasonable steps to remove the Management Company if the Management Company:
a)
b)
c)
d)
e)
f)
has failed or neglected to carry out its duties to the satisfaction of the Trustee and the Trustee considers that it
would be in the interests of Unit Holders for it to do so after the Trustee has given notice to it of that opinion and
the reasons for that opinion, and has considered any representations made by the Management Company in
respect of that opinion, and after consultation with the relevant authorities and with the approval of the Unit
Holders by way of a Special Resolution; or
is in breach of any of its obligations or duties under the Deed or the relevant laws; or
has ceased to be eligible to be a management company under the relevant laws; or
has gone into liquidation, except for the purpose of amalgamation or reconstruction or some similar purpose; or
has had a receiver appointed; or
has ceased to carry on business.
Libra Invest Berhad
Master Prospectus

147
Retirement of the Management Company
The Management Company shall have the power to retire in favour of some other corporation by giving to the Trustee
three (3) months‟ (or such other period as the Management Company and the Trustee may agree upon) notice in
writing of its desire so to do, provided such retirement is approved by the relevant authorities and the retirement is in
accordance with the conditions under the Deed.

Removal or Replacement of the Trustee
The Trustee may be removed and such corporation may be appointed as Trustee of the Fund by Special Resolution of
the Unit Holders at a duly convened meeting.
The Management Company shall take all reasonable steps to replace the Trustee as soon as practicable after
becoming aware that:
a)
b)
c)
d)
e)
f)
g)
the Trustee has ceased to exist; or
the Trustee has not been validly appointed; or
the Trustee was not eligible to be appointed or to act as Trustee under any relevant law; or
the Trustee has failed or refused to act as Trustee in accordance with the provisions or covenants of the Deed
or any relevant law; or
a receiver has been appointed over the whole or a substantial part of the assets or undertaking of the Trustee
and has not ceased to act under that appointment; or
a petition has been presented for the winding up of the Trustee (other than for the purpose of and followed by a
reconstruction, unless during or following such reconstruction the Trustee becomes or is declared insolvent); or
the Trustee is under investigation for conduct that contravenes the Trust Companies Act 1949, the Trustee Act
1949, the Companies Act 1965 or any relevant law.

Retirement of the Trustee
The Trustee may retire upon giving three (3) months‟ (or such other period as the Management Company and the
Trustee may agree upon) notice in writing to the Management Company of its desire so to do, provided such
retirement is approved by the relevant authorities and the retirement is in accordance with the conditions under the
Deed.
Termination of the Fund
The duration of the Trust is indeterminate. However, the Deed provides for certain circumstances under which the
Trust may be terminated.
The Fund may be terminated or wound up upon the occurrence of any of the following events:
a)
b)
c)
d)
e)
The SC‟s approval is revoked under section 256E of the CMSA;
A Special Resolution is passed at a Unit Holders‟ meeting to terminate or wind up the Fund, following
occurrence of events stipulated under section 30(1) of the CMSA and the court has confirmed the resolution, as
required under section 301(2) of the CMSA;
A Special Resolution is passed at a Unit Holders‟ meeting to terminate or wind up the Fund;
The Fund has reached its maturity date as specified in the Deed; and
The effective date of an approved transfer scheme has resulted in the Fund, which is the subject of the transfer
scheme, being left with no asset/property.
Provisions governing Unit Holders’ Meetings
The quorum required for a meeting of the Unit Holders shall be five (5) Unit Holders, whether present in person or by
proxy, provided always that the quorum for a meeting of the Unit Holders convened for the purpose of voting on a
Special Resolution shall be five (5) Unit Holders, whether present in person or by proxy, who must hold in aggregate at
least twenty five per centum (25%) of the Units in circulation at the time of the meeting, and provided further that if the
Fund has five (5) or less Unit Holders, the quorum required for a meeting of the Unit Holders of the Fund shall be two
(2) Unit Holders, whether present in person or by proxy; if the meeting has been convened for the purpose of removing
the Management Company and/or the Trustee, the Unit Holders present in person or by proxy must hold in aggregate
at least twenty five per centum (25%) of the Units in circulation at the time of the meeting.
Libra Invest Berhad
Master Prospectus
148
Meetings directed by Unit Holders
Unless otherwise required or allowed by the relevant laws, the Management Company shall, within twenty-one (21)
days of receiving a direction from not less than fifty (50) or one-tenth (1/10) of Unit Holders at the registered office of
the Management Company, summon a meeting of the Unit Holders by:
(a)
(b)
(c)
sending by post at least seven (7) days before the date of the proposed meeting a notice of the proposed meeting
to all the Unit Holders;
publishing at least fourteen (14) days before the date of the proposed meeting an advertisement giving notice of
the proposed meeting in a national language newspaper published daily and another newspaper approved by the
relevant authorities; and
specifying in the notice the place and time of the meeting and the terms of the resolutions to be proposed at the
meeting.
The Unit Holders may direct the Management Company to summon a meeting for any purpose including, without
limitation, for the purpose of:
(a)
(b)
(c)
(d)
(e)
requiring the retirement or removal of the Management Company;
requiring the retirement or removal of the Trustee;
considering the most recent financial statements of the Fund;
giving to the Trustee such directions as the meeting thinks proper; or
considering any matter in relation to the Deed.
provided always that the Management Company shall not be obliged to summon such a meeting unless direction has
been received from not less than fifty (50) or one-tenth (1/10) of all the Unit Holders.
Unit Holders meeting convened by the Management Company
Unless otherwise required or allowed by the relevant laws and the Deed, we may convene a Unit Holders‟ meeting by
giving Unit Holders‟ at least fourteen (14) days written notice specifying the place, time and terms of the resolutions to
be proposed.
Unit Holders meeting convened by the Trustee
The Trustee may convene a Unit Holders‟ meeting by giving Unit Holders‟ at least fourteen (14) days written notice
specifying the place, time and terms of the resolution to be proposed for any purpose including, without limitation, for
the purpose of:
(a)
(b)
(c)
(d)
(e)
requiring the retirement or removal of the Management Company;
giving instructions to the Trustee or the Manager if the Trustee considers that the investment management
policies of the Management Company are not in the interests of Unit Holders;
securing the agreement of the Unit Holders to release the Trustee from any liability;
deciding on the next course of action after the Trustee has suspended the sale and repurchase of Units; and
deciding on the reasonableness of the annual management fee charged to the Fund.
In the circumstances where:
(a)
the Management Company is in liquidation;
(b)
in the opinion of the Trustee, the Management Company has ceased to carry on business, or
(c)
in the opinion of the Trustee, the Management Company has, to the prejudice of Unit Holders, failed to comply
with the Deed or contravened any of the provisions of the Act.
The Trustee shall summon a Unit Holders‟ meeting by sending by post a notice of the proposed meeting to the Unit
Holders at least twenty-one (21) days before the date of the proposed meeting; and publishing at least twenty-one (21)
days before the date of the proposed meeting an advertisement giving notice of the meeting in a national language
newspaper published daily and another newspaper permitted by the relevant authorities.
Libra Invest Berhad
Master Prospectus
149
17. APPROVALS AND CONDITIONS
Variations and Exemptions from SC Guidelines
We have obtained the approval from the SC for certain variations and exemptions from the SC‟s Guidelines for
EquityEXTRA Fund.
EquityEXTRA

EquityEXTRA has been allowed a variation to Clause 10.3.3(c) of the Guidelines issued in 1997 which states that
the value of the Fund‟s holding of unlisted securities must not exceed 10% of the Fund‟s NAV. The Fund is
allowed to invest up to 50% of the NAV of the Fund only in unlisted bonds and fixed income securities as well as
commercial papers traded in the money market.
Libra Invest Berhad
Master Prospectus
150
18. RELATED – PARTY TRANSACTIONS AND CONFLICT OF INTEREST
Related-Party Transactions
The Management Company may from time to time transact through a broker related to it. Transactions with related
stock broking company will be entered into in the normal course of business and on terms and conditions that are not
materially different from that obtainable in transactions with unrelated parties. The dealings with the related party will
be transacted at arm‟s length basis.
As at 10 February 2016, none of LIB‟s directors and substantial shareholders has any direct or indirect interest in other
corporations carrying on a similar business as LIB.
Policy on Conflict of Interest
In the course of managing a Fund, the Management Company may face conflicts of interest in respect of its respective
duties to the Fund and duties to other unit trust funds under its management. In such an event, the Management
Company is obliged to act in the best interest of all the investors and will seek to resolve any conflict of interest in
accordance with the Deeds. LIB has formulated a Code of Conduct for the Investment Committee Member in the
following areas:




to avoid any actual or potential conflict of interest;
to avoid misuse of position of trust;
to prevent misuse of inside information; and
to ensure fair treatment of Unit Holders of the Funds.
The code of conduct aims to prevent any conflicts of interest arising from an investment committee member‟s or LIB‟s
private fund management practice and the Funds‟ investment activities. Trading in securities by the employees,
investment committee members and directors of LIB is allowed, provided that policies and procedures in respect of the
personal account dealing are observed. Further, all employees are also required to disclose their portfolio holdings and
transactions on dealings to the Management Company.
As Trustee for the Funds, Maybank Trustees Berhad (MTB) confirms to the best of its knowledge that it does not have
any related party transactions with the Funds (RPT Transactions). However should there be any, MTB will ensure
compliance with the relevant regulatory requirements and its internal procedures on RPT Transactions.
Related-Party Transactions/ Conflict of Interest
CIMB Islamic Trustee Berhad is the Trustee of the Funds, where applicable there may be proposed related party
transactions and/or conflict of interest involving or in connection with the Fund in the following events:
(a)
(b)
(c)
where the Funds invest in instrument(s) offered by CIMB Group;
where the Funds being distributed by CIMB Group as IUTA; and
where the assets of the Funds are being custodised by the CIMB Group both as custodian of the Funds
(i.e.Trustee‟s delegate).
The Trustee has in place policies and procedures to deal with any conflict of interest situation. The Trustee will not
make improper use of its position as the legal registered owner of the Fund's assets to gain, directly or indirectly, and
advantage or cause detriment to the interest of the Unit Holders.
Libra Invest Berhad
Master Prospectus
151
Related-Party Transactions/ Conflict of Interest
CIMB Commerce Trustee Berhad is the Trustee of the Funds, where applicable there may be proposed related party
transactions and/or conflict of interest involving or in connection with the Fund in the following events:
(a)
(b)
(c)
where the Funds invest in instrument(s) offered by CIMB Group;
where the Funds being distribute by CIMB Group as IUTA; and
where the assets of the Funds are being custodised by the CIMB Group both as sub-custodian of the
Funds (i.e. Trustee's delegate).
The Trustee has in place policies and procedures to deal with any conflict of interest situation. The Trustee will not
make improper use of its position as the legal registered owner of the Fund's assets to gain, directly or indirectly, and
advantage or cause detriment to the interest of the Unit holders.
Libra Invest Berhad
Master Prospectus
152
19. TAXATION ADVISER’S LETTER ON TAXATION OF THE FUNDS AND
UNIT HOLDERS
(Prepared for inclusion in this Master Prospectus)
PricewaterhouseCoopers Taxation Services Sdn Bhd
Level 10, 1 Sentral, Jalan Travers
P.O.Box 10192
50706 Kuala Lumpur
The Board of Directors
Libra Invest Berhad
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
29 February 2016
TAXATION OF THE FUNDS OFFERED UNDER THE MASTER PROSPECTUS AND UNIT HOLDERS
Dear Sirs,
This letter has been prepared for inclusion in the Master Prospectus dated 18 March 2016 and expires on 17 March
in connection with the offer of units in Libra IncomeEXTRA Fund, Libra EquityEXTRA Fund, Libra BondEXTRA Fund,
MoneyEXTRA Fund, Libra VersatileEXTRA Fund, Libra DividendEXTRA Fund, Libra TacticalEXTRA Fund,
Consumer and Leisure Asia Fund, Libra Liquidity Fund, Libra Resource Equity Fund, Libra SyariahEXTRA Fund,
Amanah Saham Wanita, Libra ASnitaBOND Fund and Libra Shariah Liquidity Fund Series 2 (“the Funds”).
2017
Libra
Libra
Libra
The taxation of income for both the Funds and the Unit holders are subject to the provisions of the Malaysian Income Tax
Act 1967 (“the Act”). The applicable provisions are contained in Section 61 of the Act, which deals specifically with the
taxation of trust bodies in Malaysia.
TAXATION OF THE FUNDS
The Funds will be regarded as resident for Malaysian tax purposes since the Trustee of the Funds are resident in Malaysia.
(1)
Domestic Investments
(i)
General Taxation
Subject to certain exemptions, the income of the Funds consisting of dividends, interest (other than interest which is
exempt from tax) and other investment income derived from or accruing in Malaysia, after deducting tax allowable
expenses, is liable to Malaysian income tax at the rate of 24 per cent.
Gains on disposal of investments in Malaysia by the Funds will not be subject to income tax.
(ii)
Dividends and Other Exempt Income
Effective 1 January 2014, all companies would adopt the single-tier system. Hence, dividends received would be exempted
from tax and the deductibility of expenses incurred against such dividend income would be disregarded. There will no longer
be any tax refunds available for single- tier dividends received. Dividends received from companies under the single-tier
system would be exempted.
The Funds may receive Malaysian dividends which are tax exempt. The exempt dividends may be received from
investments in companies which had previously enjoyed or are currently enjoying the various tax incentives provided under
the law. The Funds will not be taxable on such exempt income.
Interest or discount income derived from the following investments is exempt from tax:
(a)
Securities or bonds issued or guaranteed by the government;
1
2
(b)
Debentures or sukuk , other than convertible loan stocks, approved or authorized by, or lodged with, the Securities
3
Commission Malaysia; and
(c)
Bon Simpanan Malaysia issued by Bank Negara Malaysia.
Libra Invest Berhad
Master Prospectus
153
Interest income derived from the following investments is exempt from tax:
(a)
(b)
(c)
Interest paid or credited by any bank or financial institution licensed under the Financial Services Act 2013 or
Islamic Financial Services Act 2013 with effect from 30 June 2013;
Interest paid or credited by any development financial institution regulated under the Development Financial
Institutions Act 2002 with effect from year of assessment (“YA”) 2015; and
Bonds, other than convertible loan stocks, paid or credited by any company listed in Bursa Malaysia Securities
Berhad ACE Market.
The income exempted from tax at the Fund‟s level will also be exempted from tax upon distribution to the Unit holders.
(2)
Foreign Investments
Income of the Funds in respect of income received from overseas investment is exempt from Malaysian tax by virtue of
Paragraph 28 of Schedule 6, of the Act and distributions from such income will be tax exempt in the hands of the Unit
holders. Such income from foreign investments may be subject to foreign taxes or withholding taxes. Any foreign tax
suffered on the income in respect of overseas investment is not tax refundable to the Funds.
The foreign income exempted from Malaysian tax at the Funds level will also be exempted from tax upon distribution to the
Unit holders.
(3)
Hedging Instruments
The tax treatment of hedging instruments would depend on the particular hedging instruments entered into.
Generally, any gain / loss relating to the principal portion will be treated as capital gain / loss. Gains / losses relating to
the income portion would normally be treated as revenue gains / losses. The gain / loss on revaluation will only be taxed
or claimed upon realisation. Any gain / loss on foreign exchange is treated as capital gain / loss if it arises from the
revaluation of the principal portion of the investment.
(4)
Tax Deductible Expenses
Expenses wholly and exclusively incurred in the production of gross income are allowable as deductions under Section
33(1) of the Act. In addition, Section 63B of the Act provides for tax deduction in respect of managers‟ remuneration,
expenses on maintenance of the register of unit holders, share registration expenses, secretarial, audit and accounting
fees, telephone charges, printing and stationery costs and postages based on a formula subject to a minimum of 10 per
cent and a maximum of 25 per cent of the expenses.
(5)
Real Property Gains Tax
With effect from 1 January 2014, any gains on disposal of real properties (“chargeable asset”) or shares in real property
4
companies (“chargeable asset”) would be subject to RPGT as follows:Disposal time frame
Within 3 years
In the 4th year
In the 5th year
In the 6th year and subsequent years
(6)
RPGT rates
30%
20%
15%
5%
Goods and Services Tax (“GST”)
GST has been implemented since 1 April 2015 at the rate of 6% to replace the existing sales tax and service tax.
5
Based on the draft guidelines issued, the Funds, being collective investment vehicle, will be making exempt supplies.
Hence, the Funds are not required to be registered for GST purposes. However, the Funds will incur expenses such as
management fees, trustee fees and other administrative charges which will be subject to 6% GST. The 6% input tax
incurred on such expenses will not be claimable by the Funds and represents a cost to the Funds.
TAXATION OF UNIT HOLDERS
Unit holders will be taxed on an amount equivalent to their share of the total taxable income of the Funds to the extent of
the distributions received from the Funds. The income distribution from the Funds will carry a tax credit in respect of the
Malaysian tax paid by the Funds. Unit holders will be entitled to utilise the tax credit against the tax payable on the income
distribution received by them. No additional withholding tax will be imposed on the income distribution from the Funds.
Non-resident Unit holders may also be subject to tax in their respective jurisdictions and depending on the provisions of the
relevant tax legislation and any double tax treaty with Malaysia, the Malaysian tax suffered may be creditable in the foreign
tax jurisdictions.
6
Corporate Unit holders, resident and non-resident, will generally be liable to income tax at 24 per cent on distribution of
income received from the Funds. The tax credits attributable to the distribution of income can be utilised against the tax
liabilities of these Unit holders.
Libra Invest Berhad
Master Prospectus
154
Individuals and other non-corporate Unit holders who are tax resident in Malaysia will be subject to income tax at
7
graduated rates ranging from 1 per cent to 28 per cent. Individuals and other non-corporate Unit holders who are not
8
resident in Malaysia will be subject to income tax at 28 per cent.
The distribution of exempt income and gains arising from the disposal of investments by the Funds will be exempted from
tax in the hands of the Unit holders.
Any gains realised by Unit holders (other than those in the business of dealing in securities, insurance companies or
financial institutions) on the sale or redemption of the units are treated as capital gains and will not be subject to income
tax. This tax treatment will include in the form of cash or residual distribution in the event of the winding up of the Funds.
Unit holders electing to receive their income distribution by way of investment in the form of new units will be regarded as
having purchased the new units out of their income distribution after tax.
Unit splits issued by the Funds are not taxable in the hands of Unit holders.
The issuance of units by the Funds is an exempt supply. The selling or redemption of the units is also an exempt supply and
therefore is not subject to GST. Any fee based charges related to buying of the units such as sales or service charge or
switching fees will be subject to GST at a standard rate of 6%.
We hereby confirm that the statements made in this report correctly reflect our understanding of the tax position under
current Malaysian tax legislation. Our comments above are general in nature and cover taxation in the context of
Malaysian tax legislation only and do not cover foreign tax legislation. The comments do not represent specific tax advice
to any investors and we recommend that investors obtain independent advice on the tax issues associated with their
investments in the Funds.
Yours faithfully,
for and on behalf of
PRICEWATERHOUSECOOPERS TAXATION SERVICES SDN BHD
Lim Phaik Hoon
Senior Executive Director
PricewaterhouseCoopers Taxation Services Sdn Bhd have given their written consent to the inclusion of their report as
taxation adviser in the form and context in which it appears in this Master Prospectus and have not, before the date of issue
of the Master Prospectus, withdrawn such consent.
1
Structured products approved by the Securities Commission Malaysia are deemed to be “debenture” under the Capital Markets and Services Act,
2007 and fall within the scope of exemption.
2
Persuant to the Finance Act 2015 which was gazetted on 30 December 2015, the words “Islamic Securities” were substituted with the words
“sukuk”.
3
Persuant to the Finance Act 2015 which was gazette on 30 December 2015, the words “approved by the Securities Commission” were
substituted with the words “approved or authorized by, or lodge with, the Securities Commission”.
4
A real property company is a controlled company which owns or acquires real property or shares in real property companies with a market value
of not less than 75 per cent of its total tangible assets. A controlled company is a company which does not have more than 50 members and is
controlled by not more than 5 persons.
5
Pursuant to Goods And Services Tax Guide on Fund Management (draft as at 27 October 2013) issued by the Royal Malaysian Customs.
6
Resident companies with paid up capital in respect of ordinary shares of RM2.5 million and below will pay tax at 19 per cent for the first
RM500,000 of chargeable income with the balance taxed at 24 per cent.
With effect from year of assessment (“YA”) 2009, the above shall not apply if more than –
(a)
(b)
(c)
50 per cent of the paid up capital in respect of ordinary shares of the company is directly or indirectly owned by a related company;
50 per cent of the paid up capital in respect of ordinary shares of the related company is directly or indirectly owned by the first
mentioned company;
50 per cent of the paid up capital in respect of ordinary shares of the first mentioned company and the related company is directly or
indirectly owned by another company.
“Related company” means a company which has a paid up capital in respect of ordinary shares of more than RM2.5 million at the beginning of
the basis period for a year of assessment (“YA”).
7
Pursuant to the Finance Act 2015 which was gazetted on 30 December 2015, the income tax rates for individual tax residents in Malaysia will
be increased to rates ranging from 1 to 28 per cent effective YA 2016.
8
Pursuant to the Finance Act 2015 which was gazetted on 30 December 2015, the income tax rate for non-resident individuals will be
increased to 28 per cent effective YA 2016.
Libra Invest Berhad
Master Prospectus
20. ADDITIONAL INFORMATION
Investors Services
FOR MORE INFORMATION ON:


The Fund‟s NAV per Unit


Investment details
Liquidation details
Call us during our office hours at:

03-2089 1883 (Head Office)

07-332 2148 (Johor Bahru)
Monday to Friday: 8.30 a.m. to 5.30 p.m.
(3.30 p.m cut-off time for unit transactions)

Or visit our website or send an e-mail to us at:



Website : www.librainvest.com
E-mail : [email protected]
In addition, the NAV per Unit is also available at:

Manager‟s website
EVERY INVESTOR WILL BE PROVIDED WITH:

Investment confirmation
e.g. Units holding, NAV, payment details

Details of income distribution


Unaudited half-yearly interim report
Audited annual report
e.g. Income distribution(if any) quarterly/ monthly/ half yearly/
annually/ incidental
e.g. Market review & outlook, Funds performance
e.g. Market review & outlook, Funds performance
155
Libra Invest Berhad
Master Prospectus
156
21. CONSENTS
The Trustees, auditor, Shariah Adviser, solicitors and principal bankers have given their written consent to the
inclusion in this Master Prospectus of their names in the form and context in which such names appear and have not,
before the date of issue of this Master Prospectus withdrawn their consents.
The tax adviser has given their written consent to the inclusion of the tax adviser‟s letter in the form and context in
which it appears in this Master Prospectus and has not withdrawn such consent before the date of issue of this Master
Prospectus.
22. JURISDICTION
The offering of Units or the distribution of this Master Prospectus, in any jurisdiction where action would be required for
such purpose, is not permitted outside Malaysia. Accordingly, this Master Prospectus may not be used for the purpose
of a solicitation or offer in any jurisdiction or in any circumstances in which such solicitation and offer is unauthorized.
23. DOCUMENTS AVAILABLE FOR INSPECTION
The following documents or copies thereof or other documents as may be required by the SC will be available for
inspection (without charge) for a period of not less than 12 months from the date of this Master Prospectus during
normal business hours at the registered office of the Management Company, where applicable:




The Deed of the Funds;
Latest annual an interim reports of the Funds;
Each material contract disclosed in the Prospectus and, in the case of contracts not reduced into writing, a
memorandum which gives full particulars of the contracts;
The audited financial statements of the Funds for the current financial year (where applicable) and the last three
(3) financial years or if the Funds have been established/incorporated for a period of less than three (3) years,
the entire period preceding the date of this Prospectus;
All reports, letters or other documents, valuations and statements by any expert, any part of which is extracted
or referred to in the Prospectus. Where a summary expert‟s report is included in the Prospectus, the
corresponding full expert‟s report should be made available for inspection;
Writ and relevant cause papers for all current material litigation and arbitration disclosed in the Prospectus; and

All consents given by experts disclosed in this Master Prospectus.


24. DIRECTORS’ RESPONSIBILITY STATEMENT
This Master Prospectus dated 18 March 2016 has been reviewed and approved by the directors of Libra Invest Berhad
and they collectively and individually accept full responsibility for the accuracy of the information. Having made all
reasonable enquires, they confirm to the best of their knowledge and belief, that there are no false or misleading
statements, or omission of other facts which would make any statement in this Master Prospectus dated 18 March
2016 false or misleading.
Datuk Kamarudin bin Md Ali (Chairman & Independent Non-Executive Director)
Khairudin bin Ibrahim (Independent Non-Executive Director)
Mahadzir bin Azizan (Independent Non-Executive Director)
Gareth Lim Tze Xiang (Non-Independent Non-Executive Director)
Lee Wei Chung (Chief Executive Officer & Non-Independent Executive Director)
Libra Invest Berhad
Master Prospectus
25. COMPANY DIRECTORY
HEAD OFFICE
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
Fax: 603-2096 1020 / 603-2096 1662
JOHOR – JOHOR BAHRU
No. 105 Jalan Meranti Merah
Taman Melodies
80250 Johor Bahru, Johor
Tel: 607-332 2148
Fax: 607-335 0426
AUTHORISED DISTRIBUTORS:
 Kenanga Investment Bank Berhad
8th Floor, Kenanga International
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 603-2164 9080
Fax: 603-2161 4990
 Phillip Mutual Berhad
B-2-7, Megan Avenue II
No. 12, Jalan Yap Kwan Seng
50450 Kuala Lumpur
Tel: 603-2783 0300
Fax: 603-2711 3036
 iFAST Capital Sdn Bhd
No. 30 Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 603-2149 0660
Fax: 603-2143 1218
157
Libra Invest Berhad
Master Prospectus
This page is intentionally left blank.
158
Libra Invest Berhad
Master Prospectus
This page is intentionally left blank.
159
L O A N F IN A N CIN G R ISK D IS CL OSU R E ST A T E M EN T
Investing in a Unit Trust Fund with Borrowed Money is More Risky than Investing with Your Own Savings.
You should assess if loan financing is suitable for you in light of your objectives, attitude to risk and financial circumstances. You should be aware of the risks, which would include
the following:
1.
2.
3.
4.
The higher the margin of financing (that is, the amount of money you borrow for every ringgit of your own money which you put in as deposit or down payment), the
greater the loss or gain in your investment.
You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate loan, and if interest rates rise, your total
repayment amount will be increased.
If unit prices fall beyond a certain level, you may be asked to provide additional acceptable collateral (where units are used as collateral) or pay additional amounts on
top of your normal installments. If you fail to comply within the time prescribed, your units may be sold towards the settlement of your loan.
Returns on unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years where returns are high and other
years where losses are experienced. Whether you eventually realise a gain or loss may be affected by the timing of the sale of your units. The value of units may fall just
when you want your money back even though the investment may have done well in the past.
This brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms and conditions before you decide to take a
loan. If you are in doubt about any aspect of this risk disclosure statement or the terms of the loan financing, you should consult the institution offering the loan. Shariahcompliance unit trust fund’s investor is advised to seek for Islamic financing to finance their acquisition.
Acknowledgement of Receipt of Risk Disclosure Statement
I acknowledge that I have received a copy of this Unit Trust Loan Financing Risk Disclosure Statement and understand its contents.
Signature
: _________________________________________________________
Full name
: _________________________________________________________
Date
: ________________________________________________
T E R M S
A N D
CO N DIT IO N S
1.
Application and Remittance

Payment may be made by tegraphic transfer, cheques or cashier’s order.

All cheques / cashier’s order must be made payable to Libra Invest Berhad and crossed ‘Account Payee Only’. Please ensure that the applicant’s name, holder no. (if
known) and contact no. are written on the reverse side of the cheque or cashier’s order.

A copy of the bank-in slip / banking evidence must be sent together with the Investment Form directly to the Management Company. Please ensure that the
applicant’s name, holder no. (if known) and contact no. are written on the reverse side of the bank-in slip / banking evidence.

Units will be priced at NAV based on the date of receipt of the duly completed Investment Form by the Management Company. Units will be credited upon clearance of
payment.
2.
Right of the Management Company

The Management Company reserves the right to reject any application in whole or in part without assigning any reason. Rejected applicants will be notified and the
Management Company will refund their money within 14 days from the date of receipt of the Investment Form. Payment will be made to the Applicant’s/ Holder’s
name by a crossed cheque.

All future terms and conditions, amendments are deemed to be valid.
3.
Issuance of Official Receipt and Statement of Accounts

A confirmation note will be issued to Holders within 14 business days from the date of investment.

Statement of Accounts detailing all active accounts will be issued to Holders periodically.

All correspondence will be directed to the Principal Holder at the last known address.

All items and balances shown in the confirmation notes and Statement of Accounts will be considered correct unless the Management Company is notified in
writing of any discrepancy within 14 days from the date of the confirmation notes and Statement of Accounts.
4.
Future Transactions and Payments

The Management Company upon evidence of receipt of money will process all investments without verifying the source of remittance. To protect your interest as a
Holder, you must fill up an Investment Form when making investments and attach it with your payment.

All investments and transactions will be carried out according to the instructions of authorised signatory specified in the Holder Account Opening Form or any
subsequent written notice duly received by the Management Company. Transactions are subject to the availability of units of the Fund.

Should there be any additional investment not accompanied by an instruction for allocation into the appropriate Funds, the Management Company shall have the right to
allocate the said investment according to the manner specified in the Investment Form for the initial investment or any subsequent written notice duly received by
the Management Company. For any allocation of investment into a particular fund below the minimum investment required, the Management Company reserves the
right to reject or rectify the said investment allocation in order to comply with the minimum requirement.

For lump sum investment with deferred entry fee, the deduction of chargeable entry fee from the account in the form of units will be done automatically every
calendar quarter. No advice will be issued. The chargeable entry fee will be deducted from units of a fixed income fund or from units of the larger fund in terms of
market value at Management Company’s discretion.
5.
Liquidation of Units and Cooling-Off

Holders may liquidate their units by filling up the Liquidation Form and forwarding the duly signed original form to the business address of the Management
Company or its appointed distributors.

Units shall be liquidated based on the NAV calculated at the end of the business day upon receipt of a duly completed Liquidation Form by the Management Company.

To protect the interests of the Holders, the Management Company is unable to make payments to third parties. Unless otherwise specified, all payments will be made
to the Principal Holder only.

Liquidation proceeds may be credited directly to the Holder’s bank account. If other modes of payment are selected, kindly allow sufficient time for the cheques to
reach the Holders and/or for the funds to clear.

A Cooling-Off period of 6 business days from the date of application for units is provided for the Holder to confirm the initial investment. This right is not
applicable for subsequent investments of the Holder and is not extended to corporate/institutional investors, investors who are staff/distributors of the Management
Company or investors who invest under the EPF Members’ Investment Scheme.
6.
Pre-Qualification Declaration

An individual whose total net personal assets, or total net joint assets with his or her spouse, exceed RM3 million or its equivalent in foreign currencies,
excluding the value of the individual’s primary residence; an individual who has a gross annual income exceeding RM300,000 or its equivalent in foreign
currencies per annum in the preceding 12 months; an individual who, jointly with his or her spouse, has a gross annual income exceeding RM400,000 or its
equivalent in foreign currencies in the preceding 12 months; a corporation with total net assets exceeding RM10 million or its equivalent in foreign currencies based
on the last audited accounts; a partnership with total net assets exceeding RM10 million or its equivalent in foreign currencies; a unit trust scheme or prescribed
investment scheme; a private retirement scheme; a closed-end fund; a company that is registered as a trust company under the Trust Companies Act 1949 which has
assets under management exceeding RM10 million or its equivalent in foreign currencies; a corporation that is a public company under the Companies Act 1965
which is approved by the SC to be a trustee under the Act and has assets under management exceeding RM10 million ringgit or its equivalent in foreign currencies; a
statutory body established by an Act of Parliament or an enactment of any State; a pension fund approved by the Director General of Inland Revenue under section
150 of the Income Tax Act 1967; a holder of a Capital Markets Services Licence; a licensed institution; Islamic bank; an insurance company licensed under the
Financial Services Act 2013; a takaful operator registered under the Islamic Financial Services Act 2013; a bank licensee or insurance licensee as defined under the
Labuan Financial Services and Securities Act 2010; and an Islamic bank licensee or takaful licensee as defined under the Labuan Islamic Financial Services and
Securities Act 2010.
Please note that this Declaration is not the only term relating to investments into a Wholesale Fund. Investors are advised to read and understand the
Information Memorandum and Supplemental Information Memorandum(s) (if any) for additional terms including but not limited to, minimum initial and subsequent
investment amount.
Gound Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
Fax: 603-2096 1020 / 603-2096 1662
e-mail: [email protected]
www.librainvest.com

the prospectus. - Fundsupermart.com

Transcription

Similar documents

DynamicsShip for NAV

Case Study: Calzedonia Spa

GP Investments

Anelise Libra Presentation Bratecc Offshore 2014

Barrywoods Crossing - Ferguson Properties Inc

Emery Bay at Lakepointe

NaviTrans - ERP solution for transport, forwarding and logistic

KX155 and KX165 Bendix/King NAV/COM Systems