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Public Shariah MFR November 2017
Public Shariah MFR November 2017
2017
Commencing at 1,748 points at end-October, the FBM KLCI trended lower due to profit-taking activities and a lack of fresh catalysts. The Index
subsequently closed at 1,718 points for the month of November to register a decline of 1.7%.
Regional markets generally trended lower, weighed by losses in the Chinese markets as well as the rotation out of technology stocks.
On Wall Street, the Dow Jones Industrial Average (DJIA) continued to touch record highs on the back of robust corporate earnings and the
progress of the tax reform bill.
North Asia
1
Economic Update Stock Market Outlook
Malaysia • Global: Investors in the U.S. market saw increased hopes for the
• Malaysia’s GDP growth accelerated from 5.8% in 2Q 2017 to a 3-year passage of the tax reform bill after House Republicans passed their
high of 6.2% in 3Q 2017 due to higher investment spending and version of the tax proposal. Meanwhile, President Trump’s nomination
export growth. Growth in investment spending increased to 6.7% from of Jerome Powell as the next Federal Reserve Chairman bodes well
4.1% while export growth gained pace to 11.8% from 9.6% over the for the market, as his assurance of gradual interest rate hikes
same period. represents continuity for the central bank’s monetary policy.
Malaysia’s GDP Growth Breakdown by Aggregate Demand • China: Despite short-term market volatility due to concerns over
Quarterly Annual tighter liquidity conditions by regulators, China’s improving economic
fundamentals will continue to help underpin the country’s growth
(%) YoY
2Q 2017 3Q 2017 2017F
^
2018F
^
momentum. Investment sentiment is expected to be supported by
positive corporate earnings revisions and further investment flows
Private Consumption 7.1 7.2 6.9 6.8 relating to the Stock-Connect programs between the stock markets in
Total Investment 4.1 6.7 7.4 5.0 Mainland China and Hong Kong.
Government Spending 3.3 4.2 2.7 1.3
• Taiwan/Korea: The Taiwanese market is expected to trade range-
Exports 9.6 11.8 8.0 2.3 bound in December as investors await the release of 4Q 2017
Imports 10.7 13.4 9.9 2.5 corporate earnings. The earnings outlook of selected Taiwanese tech
companies will depend on the orders for the iPhone X as well as the
GDP Growth 5.8 6.2 5.2-5.7 5.0-5.5 strength of the Taiwan Dollar. Meanwhile, investor sentiment in the
Korean market remains positive amid robust corporate earnings.
Malaysia’s GDP Growth Breakdown by Sector Looking ahead, the Korean market will remain supported by improving
Quarterly Annual shareholder policies and resilient corporate earnings driven by the
(%) YoY technology sector.
^
2Q 2017 3Q 2017 2017F 2018F^
Regional and Global Markets’ Valuations
Services 6.3 6.6 5.9 5.8
Historic Prospective Discount / Estimated
Manufacturing 6.0 7.0 5.5 5.3 P/E (2) P/E Premium Dividend
(x) (x) (%) Yield (%)
Agriculture 5.9 4.1 5.6 2.4
ASEAN
Mining 0.2 3.1 0.5 0.9
Thailand 12.8 17.0 +32.8 2.7
Construction 8.3 6.1 7.6 7.5
Philippines 16.1 20.1* +24.8 1.5*
GDP Growth 5.8 6.2 5.2-5.7 5.0-5.5
^ Indonesia 14.8 17.4 +17.6 2.1
Source: Department of Statistics Malaysia Economic Report 2017/2018, MOF
Singapore 14.3 15.7 +9.8 3.2
• The inflation rate eased to 3.7% in October from 4.3% in September,
Malaysia 16.4 15.6 -4.9 3.3
driven by a slower increase in transportation costs amid lower fuel
prices. Given that the inflation rate for the first 10 months of 2017 was North Asia
above the Overnight Policy Rate (OPR) of 3.0%, the real OPR has Hong Kong 12.7 13.2 +3.9 3.4
turned negative.
Taiwan 15.3 14.7 -3.9 3.8
• The Ringgit firmed by 3.4% against the United States Dollar (US$) on Korea 11.3 10.7 -5.3 1.6
expectations of a tighter monetary policy amid stronger economic data
Japan 17.5 15.7 -10.3 1.9
to close at RM4.09/US$ for the month of November. On a year-to-date
basis, the Ringgit appreciated by 9.6% against the greenback. China 'H' Shares 10.8 8.7 -19.4 3.5
Global Markets
China
U.S.(1) 17.3(3) 19.8 +14.5 1.9
• Export growth moderated to 6.9% in October from 8.1% in September Eurozone 13.9(3) 15.9 +14.4 3.8
due to slower exports to the U.S. Likewise, import growth softened to
17.2% from 18.7% over the same period. The trade surplus widened Australia 14.6 16.3 +11.6 4.3
to US$38.2 billion in October from US$28.6 billion in September. Source: Bloomberg, 30 November 2017 * As at 29 November 2017
(1)
S&P 500 Index (2) 2007-2016 historical average (3) 1997-2016 historical average
• China’s official manufacturing Purchasing Managers' Index (PMI)
edged down to 51.6 points in October from 52.4 points in September, • South-East Asia: In Indonesia, higher subsidies by the government
weighed by slower new orders and production levels. Meanwhile, the and the mid-2018 regional elections may help provide a boost to
services PMI declined to 54.3 points from 55.4 points over the same consumption. Meanwhile, Thai banks are expected to benefit from
period. improving asset quality as the economy strengthens. In Singapore,
higher growth in the services sector will be supportive of GDP growth
U.S. in 2018. The consumer sector in the Philippines is expected to
continue benefiting from strong domestic demand, spurred by
• The U.S. Institute of Supply Management’s manufacturing PMI increased infrastructure and social spending.
declined to 58.7 points in October from 60.8 points in September amid
lower new orders and production levels. The services PMI edged up • Malaysia: On the local front, sentiment is expected to be underpinned
to 60.1 points in October from 59.8 points in September over the by the recent strong economic data, the strengthening of the Ringgit
same period. as well as the recent rally in oil prices. However, any upside for the
local bourse is also dependent on the momentum of corporate
• The U.S. Personal Consumption Expenditures (PCE) inflation rate earnings and foreign fund flows.
climbed to 1.6% in September from 1.4% in August on the back of
higher food and energy prices. • Bursa Securities registered a net outflow of RM0.1 billion from foreign
funds in November, resulting in a total net outflow of RM1.3 billion in
• New non-farm jobs rebounded to 261,000 in October from 18,000 the August to November period. The inflow in the first 11 months of
jobs added in September. The unemployment rate fell to a 17-year 2017 stood at RM10.1 billion.
low of 4.1% from 4.2% over the same period.
2
Bond Market Review and Outlook
RM billion Net Foreign Fund Flows of Bursa Malaysia
6.0 • The U.S. Treasury (UST) market ended lower in November in tandem
4.4 with the high possibility of a Federal funds rate hike in December and
4.0 2.7
improved prospects of a U.S. tax reform. Yields of 3-year, 5-year and
2.1 10-year UST notes rose by 3 to 16 basis points (bps) to close at
2.0 1.0 1.89%, 2.14% and 2.41% respectively.
0.5 0.3 0.4
0.0 • The Malaysian Government Securities (MGS) benchmark yields
-0.2 -0.2 -0.1 moved lower on the back of the Ringgit’s appreciation and resilient
-2.0 -1.0 -0.8
crude oil prices. Foreign holdings of MGS decreased to RM153.22
billion in October from RM156.71 billion in September. The yields of
-4.0 3-year, 5-year and 10-year MGS fell by 5 to 7 bps to close at 3.40%,
-3.9
3.60% and 3.89% respectively.
-6.0
Nov-16 Feb-17 May-17 Aug-17 Nov-17 • The local corporate bond market was traded moderately in November.
Source: Bursa Malaysia The yields of 3-year, 5-year and 10-year AAA-rated corporate bonds
rose by 6 to 8 bps to close at 4.29%, 4.51% and 4.79% respectively.
• Malaysia’s foreign reserves firmed by 7.3% to reach US$101.5 billion
as at 15 November 2017 compared to US$94.6 billion at end-2016. At • In the AA-rated space, yields of 3-year, 5-year and 10-year bonds
the current level, the reserve position is sufficient to finance 7.5 rose by 1 to 4 bps to close at 4.49%, 4.67% and 5.01% respectively.
months of retained imports and is equivalent to 1.1 times the short-
term external debt. • Looking ahead, market participants will continue to monitor the
potential impact of the monetary policy outlook of the U.S. Federal
• At the FBM KLCI’s closing level of 1,718 points on 30 November Reserve and the European Central Bank (ECB) on global and
2017, the local stock market was trading at a prospective P/E ratio of domestic bond yields. In the domestic bond market, market
15.6x, which was below its 10-year average of 16.4x. Meanwhile, the participants will continue to monitor the timing and quantum of a
local market’s dividend yield was 3.33%. potential OPR hike in 2018.
3
Funds’ Performance Review
Equity - Local
Public Ittikal Fund (P ITTIKAL) 10.04.1997 4 5
Public Islamic Equity Fund (PIEF) 28.05.2003 4 6
Public Islamic Opportunities Fund (PIOF) 28.06.2005 5 7
Public Islamic Dividend Fund (PIDF) 14.02.2006 4 8
Public Islamic Sector Select Fund (PISSF) 13.11.2007 4 9
Public Islamic Select Treasures Fund (PISTF) 26.02.2008 5 10
Public Islamic Optimal Growth Fund (PIOGF) 08.04.2008 4 11
Public Islamic Select Enterprises Fund (PISEF) 14.08.2008 4 12
Public Islamic Alpha-40 Growth Fund (PIA40GF) 16.11.2010 4 13
Public Islamic Treasures Growth Fund (PITGF) 19.07.2011 5 14
Public Ittikal Sequel Fund (PITSEQ) 11.10.2011 4 15
Public Islamic Savings Fund (PISVF) 15.12.2011 4 16
Public Islamic Growth & Income Fund (PISGIF) 07.01.2014 4 17
Public Islamic Enterprises Equity Fund (PIENTEF) 18.03.2015 4 18
Public Islamic Advantage Growth Equity Fund (PIAVGEF) 08.09.2015 4 19
Public Islamic Emerging Opportunities Fund (PIEMOF) 30.03.2016 5 20
Equity - Regional
Public Asia Ittikal Fund (PAIF) 22.08.2006 5 21
Public Islamic Asia Dividend Fund (PIADF) 03.04.2007 5 22
Public China Ittikal Fund (PCIF) 20.11.2007 5 23
Public Islamic Asia Leaders Equity Fund (PIALEF) 19.01.2010 5 24
Public Islamic Optimal Equity Fund (PIOEF) 26.07.2016 5 25
Balanced - Local
Money Market
Public Islamic Money Market Fund (PIMMF) 05.06.2007 1 38
Public e-Islamic Cash Deposit Fund (PeICDF) 25.08.2014 1 39
*Risk level is referred as follows: 5 – Very High, 4 – High, 3 – Moderate to High, 2 – Low to Moderate and 1 – Very Low
Please refer to page 40 for page reference index of the respective funds according to alphabetical order and financial year end.
4
PUBLIC ITTIKAL FUND (P ITTIKAL)
(1)
Fund Objective 3-year
Fund Volatility
5.4
To achieve steady capital growth over the medium to long term period by investing in a portfolio of investments that complies with Shariah
principles. low
Lipper Analytics
15 Nov 17
Distribution History
0%
Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
5
PUBLIC ISLAMIC EQUITY FUND (PIEF)
Fund Objective 3-year (1)
Fund Volatility
To achieve capital growth through a diverse selection of growth stocks that complies with Shariah principles.
6.2 low
Lipper Analytics
15 Nov 17
80%
Distribution History
0%
Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
-80% Interim 5.00 30.11.07 13.3
Jun-03 Jan-07 Sep-10 Apr-14 Nov-17 2008 18.4
Final 1.50 30.5.08 4.6
Benchmark: 2009 Final 1.75 29.5.09 6.4 6.4
Kuala Lumpur Syariah Index (prior to 1 November 2007). 2010 Final 1.75 31.5.10 6.0 6.0
FTSE Bursa Malaysia EMAS Shariah Index (w.e.f. 1 November 2007). 2011 Final 2.00 31.5.11 5.9 5.9
Underlying index data are sourced from Lipper. 2012 Final 2.00 31.5.12 6.1 6.1
2013 Final 2.00 31.5.13 5.6 5.6
* Commencement Date - 17 June 2003 2014 Final 2.50 30.5.14 6.9 6.9
2015 Final 2.65 29.5.15 7.8 7.8
Asset Allocation as at 30 November 2017 2016 Final 1.25 31.5.16 3.9 3.9
Asset Type 2017 Final 1.00 31.5.17 3.0 3.0
Shariah-compliant Equities & Related Securities - Domestic 75.70% Note: Distribution yield simply measures the level of distributions and is not a measure
Shariah-compliant Equities & Related Securities - Foreign 20.02% of fund performance.
Islamic Money Market Instruments & Others 4.28%
Total 100.00%
6
PUBLIC ISLAMIC OPPORTUNITIES FUND (PIOF)
(1)
Fund Objective 3-year
Fund Volatility
To achieve capital growth through investments in companies with small market capitalisation which comply with Shariah principles.
8.0
moderate
Lipper Analytics
15 Nov 17
420%
Inari Amertron Berhad
PIOF Benchmark Uchi Technologies Berhad
350% SKP Resources Berhad
280%
Total Returns
7
PUBLIC ISLAMIC DIVIDEND FUND (PIDF)
Fund Objective 3-year (1)
Fund Volatility
To provide income by investing in a portfolio of stocks that complies with Shariah requirements and which offer or have the potential to offer
attractive dividend yields. 5.7 low
Lipper Analytics
15 Nov 17
0% Distribution History
Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
-50%
Mar-06 Feb-09 Jan-12 Dec-14 Nov-17 2008 Final 2.00 30.4.08 6.5 6.5
Benchmark: 2009 Final 1.25 30.4.09 4.9 4.9
Kuala Lumpur Syariah Index (prior to 1 November 2007). 2010 Final 1.25 30.4.10 4.0 4.0
FTSE Bursa Malaysia EMAS Shariah Index (1 November 2007 to 29 April 2010), 2011 Final 2.00 29.4.11 5.9 5.9
90% FTSE Bursa Malaysia EMAS Shariah Index and 10% 3-Month Islamic Interbank 2012 Final 2.00 30.4.12 5.7 5.7
Money Market (IIMM) rate (w.e.f. 30 April 2010). 2013 Final 2.00 30.4.13 5.4 5.4
Underlying index data are sourced from Lipper and Bank Negara Malaysia. 2014 Final 3.00 30.4.14 7.8 7.8
Interim 1.00 31.10.14 2.6
2015 5.4
* Commencement Date - 6 March 2006 Final 1.00 30.4.15 2.7
Interim 0.50 30.10.15 1.4
2016 2.8
Asset Allocation as at 30 November 2017 Final 0.50 29.4.16 1.4
Asset Type Interim 0.50 31.10.16 1.4
2017 2.8
Shariah-compliant Equities & Related Securities - Domestic 75.76% Final 0.50 28.4.17 1.4
Shariah-compliant Equities & Related Securities - Foreign 19.49% 2018 Interim 0.50 31.10.17 1.4 -
Islamic Debt Securities 0.49% Note: Distribution yield simply measures the level of distributions and is not a measure
Islamic Money Market Instruments & Others 4.26% of fund performance.
Total 100.00%
Note: Distribution yield simply measures the level of distributions and is not
-60% a measure of fund performance.
Dec-07 Jun-10 Nov-12 May-15 Nov-17
Benchmark:
Index data are sourced from Lipper.
9
PUBLIC ISLAMIC SELECT TREASURES FUND (PISTF)
Fund Objective 3-year (1)
Fund Volatility
To achieve capital growth through investment in companies with market capitalisation of up to RM6 billion which comply with Shariah requirements
in the domestic market. 8.5
high
Lipper Analytics
15 Nov 17
10
PUBLIC ISLAMIC OPTIMAL GROWTH FUND (PIOGF)
Fund Objective 3-year
(1)
Fund Volatility
To provide income and capital growth by investing in Shariah-compliant stocks which offer attractive dividend yields and growth stocks in the
domestic market. 6.2
moderate
Lipper Analytics
15 Nov 17
11
PUBLIC ISLAMIC SELECT ENTERPRISES FUND (PISEF)
Fund Objective 3-year
(1)
Fund Volatility
6.2
To achieve capital growth through investments in the largest 50 companies in terms of market capitalisation (at the point of purchase) listed on
Bursa Securities which comply with Shariah requirements. low
Lipper Analytics
15 Nov 17
Note: Distribution yield simply measures the level of distributions and is not
Benchmark: a measure of fund performance.
Index data are sourced from Lipper.
12
PUBLIC ISLAMIC ALPHA-40 GROWTH FUND (PIA40GF)
Fund Objective 3-year (1)
Fund Volatility
To achieve capital growth by investing in stocks which comply with Shariah requirements.
6.6
moderate
Lipper Analytics
15 Nov 17
0%
Distribution History
-20%
Financial Distribution (2) Distribution
Declaration Date
Dec-10 Sep-12 Jun-14 Feb-16 Nov-17 Year (Sen) Yield (%)
Note: Distribution yield simply measures the level of distributions and is not
* Commencement Date - 6 December 2010
a measure of fund performance.
13
PUBLIC ISLAMIC TREASURES GROWTH FUND (PITGF)
Fund Objective (1)
3-year
Fund Volatility
To achieve capital growth over the medium to long-term period by investing primarily in small and medium sized companies, which comply with
Shariah principles. 8.3high
Lipper Analytics
15 Nov 17
40%
2013 2.00 30.8.13 6.5
2014 2.50 29.8.14 7.9
0% 2015 1.50 28.8.15 5.7
2017 0.50 30.8.17 1.7
-40% Note: Distribution yield simply measures the level of distributions and is not
Aug-11 Mar-13 Oct-14 May-16 Nov-17 a measure of fund performance.
Benchmark:
Benchmark for PITGF is a composite of 90% FTSE Bursa Malaysia EMAS Shariah
Index (prior to 30 April 2013), 90% FTSE Bursa Malaysia Small Cap Shariah Index
(FBMSSC) (30 April 2013 to 29 April 2015), 90% customised index by FTSE based
on the constituents with market capitalisation below RM6.0 billion within the FTSE
Bursa Malaysia EMAS Shariah Index (w.e.f. 30 April 2015) and 10% 3-Month Islamic
Interbank Money Market (IIMM) rate.
Underlying index data are sourced from FTSE International Limited, Lipper and Bank
Negara Malaysia.
14
PUBLIC ITTIKAL SEQUEL FUND (PITSEQ)
Fund Objective 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long term period by investing in a portfolio of investments that complies with Shariah principles.
6.3 low
Lipper Analytics
15 Nov 17
0%
0%
Distribution History
(2)
Financial Distribution Distribution
Declaration Date
-12%
-20% Year (Sen) Yield (%)
Oct-11
Oct-11 Aug-12May-13 Jun-13 Nov-14 Apr-14 Jan-15
May-16 Nov-17
2012 1.25 30.11.12 4.7
Benchmark: 2013 1.75 29.11.13 6.0
Index data are sourced from Lipper. 2014 1.75 28.11.14 6.1
2015 0.50 30.11.15 1.7
* Commencement Date - 31 October 2011 2016 0.50 30.11.16 1.7
2017 0.50 30.11.17 1.7
Asset Allocation as at 30 November 2017
Note: Distribution yield simply measures the level of distributions and is not
Asset Type a measure of fund performance.
Shariah-compliant Equities & Related Securities - Domestic 80.64%
Shariah-compliant Equities & Related Securities - Foreign 15.05%
Islamic Money Market Instruments & Others 4.31%
Total 100.00%
15
PUBLIC ISLAMIC SAVINGS FUND (PISVF)
Fund Objective 3-year
(1)
Fund Volatility
6.2
To provide income over the medium to long-term period by investing in a portfolio of investments that complies with Shariah requirements and which
offer or have the potential to offer attractive dividend yields. moderate
Lipper Analytics
15 Nov 17
30%
IHH Healthcare Berhad
Axiata Group Berhad
Total Returns
10%
Distribution History
0% Financial Distribution Distribution (2) Declaration Distribution Annualised
Year Type (Sen) Date Yield (%) Yield (%)
-10% 2012 Final 1.00 31.12.12 3.7 3.7
Dec-11 Jun-13 Dec-14 Jun-16 Nov-17
2013 Final 0.75 31.12.13 2.5 2.5
Benchmark: Interim 0.50 30.6.14 1.7
2014 3.4
Benchmark for PISVF is a composite of 90% FTSE Bursa Malaysia EMAS Shariah Final 0.50 31.12.14 1.7
Index and 10% 3-Month Islamic Interbank Money Market (IIMM) rate. Interim 0.50 30.6.15 1.7
2015 3.4
Underlying index data are sourced from Lipper and Bank Negara Malaysia. Final 0.50 31.12.15 1.7
Interim 0.25 30.6.16 0.9
2016 2.3
* Commencement Date - 30 December 2011 Final 0.40 30.12.16 1.4
2017 Interim 0.25 30.6.17 0.8 -
Asset Allocation as at 30 November 2017 Note: Distribution yield simply measures the level of distributions and is not a measure
Asset Type of fund performance.
Shariah-compliant Equities & Related Securities - Domestic 73.57%
Shariah-compliant Equities & Related Securities - Foreign 22.86%
Islamic Money Market Instruments & Others 3.57%
Total 100.00%
16
PUBLIC ISLAMIC GROWTH & INCOME FUND (PISGIF)
Fund Objective 3-year
(1)
Fund Volatility
To seek capital growth and income by investing in a portfolio of Shariah-compliant growth and dividend stocks.
6.2
moderate
Lipper Analytics
15 Nov 17
-8%
Distribution History
(2)
Financial Distribution Distribution
Declaration Date
-16% Year (Sen) Yield (%)
Jan-14 Jan-15 Dec-15 Dec-16 Nov-17
2014 0.50 31.12.14 2.0
Benchmark: 2015 0.50 31.12.15 2.1
Index data are sourced from Lipper. 2016 0.25 30.12.16 1.1
Note: Distribution yield simply measures the level of distributions and is not
* Commencement Date - 27 January 2014 a measure of fund performance.
17
PUBLIC ISLAMIC ENTERPRISES EQUITY FUND (PIENTEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah requirements.
8%
PIENTEF Benchmark
Top 5 Holdings
Security Name
Tenaga Nasional Berhad
0% Axiata Group Berhad
IHH Healthcare Berhad
Total Returns
-8%
Distribution History
Financial Distribution (1) Distribution
Declaration Date
Year (Sen) Yield (%)
-16%
Apr-15 Dec-15 Aug-16 Apr-17 Nov-17 2017 0.50 29.9.17 2.0
Note: Distribution yield simply measures the level of distributions and is not
Benchmark: a measure of fund performance.
Benchmark for PIENTEF is a composite of 75% FTSE Bursa Malaysia Hijrah Shariah
Index, 15% customised index by S&P Dow Jones Indices, LLC based on Top 100
constituents by market capitalisation of the S&P Shariah BMI Asia Ex-Japan Index
and 10% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from S&P Dow Jones Indices, LLC, Lipper and
Bank Negara Malaysia and expressed in Ringgit terms.
18
PUBLIC ISLAMIC ADVANTAGE GROWTH EQUITY FUND (PIAVGEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a diversified portfolio of stocks that complies with Shariah requirements.
20%
15%
Security Name
Top Glove Corporation Berhad
MY E.G. Services Berhad
10% Dutch Lady Milk Industries Berhad
Total Returns
Distribution History
0%
Financial Distribution (1) Distribution
Declaration Date
Year (Sen) Yield (%)
-5%
Sep-15 Apr-16 Oct-16 May-17 Nov-17 2017 0.50 29.9.17 1.8
Note: Distribution yield simply measures the level of distributions and is not
Benchmark: a measure of fund performance.
Index data are sourced from Lipper.
19
PUBLIC ISLAMIC EMERGING OPPORTUNITIES FUND (PIEMOF)
Fund Objective
To achieve capital growth through investments in Shariah-compliant companies with mid and small market capitalisation.
6%
0%
-6%
Apr-16 Sep-16 Feb-17 Jul-17 Nov-17
Benchmark:
Benchmark for PIEMOF is a composite of 90% customised index by FTSE based
on the constituents with market capitalisation below RM6.0 billion within the FTSE
Bursa Malaysia EMAS Shariah Index and 10% 3-Month Islamic Interbank Money
Market (IIMM) rate.
Underlying index data are sourced from FTSE International Limited and Bank
Negara Malaysia.
20
PUBLIC ASIA ITTIKAL FUND (PAIF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
9.6
To achieve capital growth over the medium to long term period by investing in a - The Edge-Lipper Malaysia Fund Awards 2017:
portfolio of investments in domestic and regional markets that complies with
Shariah requirements.
. Best Equity Asia Pacific - Malaysia Provident, 3 years high
Lipper Analytics
15 Nov 17
0%
Distribution History
-40% Financial Distribution
(2)
Distribution
Sep-06 Jul-09 Apr-12 Feb-15 Nov-17 Declaration Date
Year (Sen) Yield (%)
Benchmark:
2009 0.50 30.10.09 1.9
Benchmark for PAIF is a composite of 30% Kuala Lumpur Syariah Index (prior to
2010 1.00 29.10.10 3.8
1 November 2007), 30% FTSE Bursa Malaysia EMAS Shariah Index (1 November
2007 to 29 April 2011), 30% FTSE Bursa Malaysia Hijrah Shariah Index (30 April 2011 1.25 31.10.11 5.1
2011 to 29 April 2013), 15% FTSE Bursa Malaysia Hijrah Shariah Index (w.e.f. 2012 1.00 31.10.12 3.8
30 April 2013), 15% customised index by S&P Dow Jones Indices, LLC based on 2013 0.75 31.10.13 2.8
top 20 constituents by market capitalisation of the S&P BMI Shariah Japan Index 2014 1.00 31.10.14 3.6
(w.e.f. 30 April 2013) and 70% Dow Jones Islamic Market Asia Ex-Japan IndexSM 2015 1.00 30.10.15 3.1
(prior to 1 January 2009), 70% S&P Shariah BMI Asia Ex-Japan Index (w.e.f.
2016 1.00 31.10.16 3.1
1 January 2009).
2017 1.50 31.10.17 3.9
Underlying index data are sourced from S&P Dow Jones Indices, LLC and Lipper
and expressed in Ringgit terms. Note: Distribution yield simply measures the level of distributions and is not
a measure of fund performance.
* Commencement Date - 11 September 2006
0%
Distribution History
Financial Distribution (2) Distribution
-50% Declaration Date
Year (Sen) Yield (%)
Apr-07 Dec-09 Aug-12 Apr-15 Nov-17
2011), 70% Dow Jones Islamic Market Asia Ex-Japan IndexSM (prior to 1 January 2009), 2012 0.40 30.4.12 1.7
70% S&P Shariah BMI Asia Ex-Japan Index (w.e.f. 1 January 2009) and 10% 3-Month 2013 0.40 30.4.13 1.6
Islamic Interbank Money Market (IIMM) rate. 2014 0.40 30.4.14 1.4
Underlying index data are sourced from S&P Dow Jones Indices, LLC, Lipper 2015 1.00 30.4.15 3.4
and Bank Negara Malaysia and expressed in Ringgit terms. 2016 1.00 29.4.16 3.7
2017 1.00 28.4.17 3.1
* Commencement Date - 23 April 2007
Note: Distribution yield simply measures the level of distributions and is not
a measure of fund performance.
Asset Allocation as at 30 November 2017
Asset Type
Shariah-compliant Equities & Related Securities - Domestic 9.00%
Shariah-compliant Equities & Related Securities - Foreign 85.45%
Islamic Money Market Instruments & Others 5.55%
Total 100.00%
30%
Techtronic Industries Company Limited
0%
23
PUBLIC ISLAMIC ASIA LEADERS EQUITY FUND (PIALEF)
Fund Objective Fund Award Won (1)
3-year
Fund Volatility
To achieve capital growth over the medium to long term period by - The Edge-Lipper Malaysia Fund Awards 2017:
investing mainly in stocks of companies with market capitalisation of . Best Equity Asia Pacific Ex-Japan - Malaysia Islamic, 3 years 10.3 high
US$1 billion and above in domestic and regional markets that Lipper Analytics
complies with Shariah requirements. 15 Nov 17
0%
Underlying index data are sourced from S&P Dow Jones Indices, LLC and Bank Negara 2016 0.15 30.11.16 0.5
Malaysia and expressed in Ringgit terms. Note: Distribution yield simply measures the level of distributions and is not
a measure of fund performance.
* Commencement Date - 8 February 2010
24
PUBLIC ISLAMIC OPTIMAL EQUITY FUND (PIOEF)
Fund Objective
To achieve capital growth over the medium to long-term period by investing in a diversified portfolio of stocks that complies with Shariah requirements.
30%
PIOEF Benchmark
Top 5 Holdings
24%
Security Name
Tencent Holdings Limited
18% Taiwan Semiconductor Manufacturing Company Limited
Total Returns
6%
0%
-6%
Aug-16 Dec-16 Apr-17 Aug-17 Nov-17
Benchmark:
Benchmark for PIOEF is a composite of 50% customised index by S&P Dow Jones
Indices, LLC based on Top 100 constituents by full market capitalisation of the S&P
Shariah BMI Asia Ex-Japan Index, 40% FTSE Bursa Malaysia Hijrah Shariah Index
and 10% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from S&P Dow Jones Indices, LLC, Lipper and
Bank Negara Malaysia and expressed in Ringgit terms.
25
PUBLIC ISLAMIC GROWTH BALANCED FUND (PIGRBF)
Fund Objective
To achieve capital growth over the medium to long-term period through a balanced asset allocation approach.
24%
Top 5 Holdings
PIGRBF Benchmark
Security Name
18% Press Metal Aluminium Holdings Berhad
Dialog Group Berhad
Kossan Rubber Industries Berhad
12% Hong Leong Industries Berhad
Total Returns
6%
Distribution History
0% Financial Distribution (1) Distribution
Declaration Date
Year (Sen) Yield (%)
Note: Distribution yield simply measures the level of distributions and is not
Benchmark: a measure of fund performance.
Benchmark for PIGRBF is a composite of 60% FTSE Bursa Malaysia Hijrah Shariah
Index and 40% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
26
PUBLIC ISLAMIC MIXED ASSET FUND (PIMXAF)
Fund Objective 3-year (1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing in a portfolio of investments that complies with Shariah requirements.
5.7 low
Lipper Analytics
15 Nov 17
0%
Inari Amertron Berhad
-10%
Dec-11 Jun-13 Dec-14 May-16 Nov-17 Distribution History
Benchmark: (4)
Financial Distribution Distribution
Declaration Date
Benchmark for PIMXAF is a composite of 70% FTSE Bursa Malaysia EMAS Shariah Index Year (Sen) Yield (%)
and 30% 3-Month Islamic Interbank Money Market (IIMM) rate (w.e.f. 12 December 2011). 2007 2.25 30.11.07 7.5
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
2008 1.00 28.11.08 4.8
2009 0.25 30.11.09 1.0
* Note: Upon the issuance of supplementary prospectus on 12 December 2011, Public
Islamic Balanced Fund (PIBF) has adopted its new name Public Islamic Mixed 2010 1.00 30.11.10 3.6
Asset Fund (PIMXAF) to reflect the change in fund objective, investment policy, 2011 1.00 30.11.11 3.7
investment strategy and benchmark. 2012 1.50 30.11.12 5.5
2013 1.75 29.11.13 6.2
Asset Allocation as at 30 November 2017 2014 2.00 28.11.14 7.5
Asset Type 2015 2.00 30.11.15 8.0
Shariah-compliant Equities & Related Securities - Domestic 38.52% 2016 0.40 30.11.16 1.7
Shariah-compliant Equities & Related Securities - Foreign 29.55%
Note: Distribution yield simply measures the level of distributions and is not
Islamic Debt Securities 23.85% a measure of fund performance.
Islamic Money Market Instruments & Others 8.08%
Total 100.00%
20%
PESMACF Benchmark
Distribution History
15%
Financial Distribution (1) Distribution
Declaration Date
Year (Sen) Yield (%)
Note: Distribution yield simply measures the level of distributions and is not
5%
a measure of fund performance.
0%
-5%
Dec-14 Sep-15 Jun-16 Mar-17 Nov-17
Benchmark:
Benchmark for PESMACF is a composite of 65% 3-Month Islamic Interbank Money
Market (IIMM) rate and 35% FTSE Bursa Malaysia Hijrah Shariah Index.
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
28
PUBLIC EHSAN MIXED ASSET GROWTH FUND (PESMAGF)
Fund Objective
To achieve capital growth over the medium to long-term period primarily through a portfolio allocation across Shariah-compliant equities and sukuk.
10%
Distribution History
0%
Financial Distribution (1) Distribution
Declaration Date
Year (Sen) Yield (%)
Note: Distribution yield simply measures the level of distributions and is not
Benchmark: a measure of fund performance.
Benchmark for PESMAGF is a composite of 70% FTSE Bursa Malaysia Hijrah Shariah
Index and 30% 3-Month Islamic Interbank Money Market (IIMM) rate.
Underlying index data are sourced from Lipper and Bank Negara Malaysia.
29
PUBLIC ISLAMIC ASIA TACTICAL ALLOCATION FUND (PIATAF)
Fund Objective Fund Award Won 3-year
(1)
Fund Volatility
To achieve capital growth over the medium to long-term period by investing
in a portfolio of investments in domestic and regional markets that complies
- The Edge-Lipper Malaysia Fund Awards 2017:
. Best Mixed Asset MYR Flexible - Malaysia Islamic, 3 years 9.1high
with Shariah requirements. Lipper Analytics
15 Nov 17
0%
1.7
To provide annual income to investors through investment in Islamic debt securities.
very low
Lipper Analytics
15 Nov 17
120%
80%
Total Returns
40%
0%
-40%
Sep-01 Sep-05 Oct-09 Oct-13 Nov-17
31
PUBLIC ISLAMIC ENHANCED BOND FUND (PIEBF)
Fund Objective 3-year
(1)
Fund Volatility
Seeks to provide a combination of annual income and modest capital growth primarily through a portfolio allocation across Islamic debt securities
and equities which comply with Shariah requirements. 1.6
very low
Lipper Analytics
15 Nov 17
5-year 21.74 16.63 4.01 3.12 Note: Distribution yield simply measures the level of distributions and is not
10-year 50.07 36.53 4.14 3.16 a measure of fund performance.
60%
40%
Total Returns
20%
0%
-20%
Dec-06 Sep-09 Jun-12 Mar-15 Nov-17
32
PUBLIC ISLAMIC SELECT BOND FUND (PISBF)
Fund Objective 3-year (1)
Fund Volatility
To provide annual income through investments in Islamic debt securities which have remaining maturities of 7 years and below and Islamic money
market instruments. 1.0
very low
Lipper Analytics
15 Nov 17
40%
Total Returns
20%
0%
-20%
Jul-07 Feb-10 Sep-12 Apr-15 Nov-17
33
PUBLIC ISLAMIC INCOME FUND (PI INCOME)
Fund Objective 3-year
(1)
Fund Volatility
To provide annual income over the medium to long-term period by investing in sukuk and Islamic money market instruments.
1.0
very low
Lipper Analytics
15 Nov 17
Performance of Public Islamic Income Fund vs its Benchmark Index 2012 3.50 31.7.12 3.4
Over the Following Periods Ended 30 November 2017 2013 3.75 31.7.13 3.6
PI INCOME 12-M GIA PI INCOME 12-M GIA 2014 4.00 31.7.14 3.9
(%) (%) (%) (%) 2015 3.75 31.7.15 3.7
Total Total Annualised Annualised 2016 3.00 29.7.16 2.9
Return Return Return Return 2017 3.00 31.7.17 2.9
1-year 4.13 3.11 4.13 3.11
Note: Distribution yield simply measures the level of distributions and is not
3-year 11.27 9.96 3.61 3.21 a measure of fund performance.
5-year 19.23 16.63 3.58 3.12
Since commencement 45.77 32.92 4.16 3.13
30%
Total Returns
20%
10%
0%
-10%
Sep-08 Dec-10 Apr-13 Aug-15 Nov-17
34
PUBLIC ISLAMIC INFRASTRUCTURE BOND FUND (PIINFBF)
Fund Objective (1)
3-year
Fund Volatility
To provide annual income to investors through investments in sukuk of companies in the infrastructure sector.
1.8
very low
Lipper Analytics
15 Nov 17
30%
20%
Total Returns
10%
0%
-10%
Dec-10 Sep-12 Jun-14 Feb-16 Nov-17
35
PUBLIC ISLAMIC STRATEGIC BOND FUND (PISTBF)
Fund Objective
3-year (1)
Fund Volatility
To provide annual income to investors through investments in sukuk and Islamic money market instruments.
1.5
very low
Lipper Analytics
15 Nov 17
30%
20%
Total Returns
10%
0%
-10%
Dec-10 Sep-12 Jun-14 Mar-16 Nov-17
36
PUBLIC SUKUK FUND (PSKF)
Fund Objective (1)
3-year
Fund Volatility
To provide annual income through investments in sukuk and Islamic money market instruments.
1.9 low
Lipper Analytics
15 Nov 17
20%
Total Returns
10%
0%
-10%
Aug-11 Mar-13 Oct-14 May-16 Nov-17
37
PUBLIC ISLAMIC MONEY MARKET FUND (PIMMF)
Fund Objective 3-year
(1)
Fund Volatility
0.1
To provide liquidity and current income, while maintaining capital stability by investing in instruments that comply with Shariah requirements.
very low
Lipper Analytics
15 Nov 17
Performance of Public Islamic Money Market Fund vs its Benchmark 2011 2.50 30.6.11 2.5
Index Over the Following Periods Ended 30 November 2017 2012 2.50 29.6.12 2.5
PIMMF Benchmark PIMMF Benchmark 2013 2.50 28.6.13 2.5
(%) (%) (%) (%) 2014 3.00 30.6.14 2.9
Total Total Annualised Annualised 2015 3.25 30.6.15 3.2
Return Return Return Return 2016 3.50 30.6.16 3.4
1-year 3.20 2.77 3.20 2.77
2017 4.00 30.6.17 4.0
3-year 10.10 8.71 3.25 2.82
5-year Note: Distribution yield simply measures the level of distributions and is not
16.74 14.93 3.14 2.82
a measure of fund performance.
10-year 32.84 32.82 2.88 2.88
Since commencement 34.48 35.13 2.86 2.91
PIMMF Benchmark
30%
20%
Total Returns
10%
0%
-10%
Jun-07 Jan-10 Aug-12 Apr-15 Nov-17
Benchmark:
3-Month Islamic Interbank Money Market (IIMM) rate (prior to 30 April 2010).
1-Month Islamic Interbank Money Market (IIMM) rate (30 April 2010 to 29 April 2013).
90% Public Islamic Bank 1-Month Mudharabah General Investment Account-i (30 April
2013 to 29 April 2015), 90% Public Islamic Bank 1-Month Term Deposit-i (w.e.f. 30 April
2015) and 10% Public Islamic Bank Wadiah Savings Account-i (w.e.f. 30 April 2013).
Source: Bank Negara Malaysia and Public Bank Berhad.
8% Notes: Distribution yield simply measures the level of distributions and is not
a measure of fund performance.
Total Returns
4%
2%
0%
-2%
Aug-14 Jun-15 Apr-16 Feb-17 Nov-17
Benchmark:
90% Public Islamic Bank 1-Month Mudharabah General Investment Account-i
(prior to 30 April 2015), 90% Public Islamic Bank 1-Month Term Deposit-i
(w.e.f. 30 April 2015) and 10% Public Islamic Bank Wadiah Savings Account-i.
Source: Public Bank Berhad.
39
Name of Funds by Alphabetical Order Page No. Name of Funds by Financial Year End Financial Year End Page No.
Public Asia Ittikal Fund 21 Public Islamic Emerging Opportunities Fund 31 January 20
Public China Ittikal Fund 23 Public Islamic Optimal Growth Fund 31 January 11
Public Ehsan Mixed Asset Conservative Fund 28 Public Islamic Optimal Equity Fund 28 February 25
Public Ehsan Mixed Asset Growth Fund 29 Public e-Islamic Cash Deposit Fund 31 March 39
Public e-Islamic Cash Deposit Fund 39 Public Ehsan Mixed Asset Conservative Fund 30 April 28
Public Islamic Advantage Growth Equity Fund 19 Public Ehsan Mixed Asset Growth Fund 30 April 29
Public Islamic Alpha-40 Growth Fund 13 Public Islamic Asia Dividend Fund 30 April 22
Public Islamic Asia Dividend Fund 22 Public Islamic Dividend Fund 30 April 8
Public Islamic Asia Leaders Equity Fund 24 Public Islamic Equity Fund 31 May 6
Public Islamic Asia Tactical Allocation Fund 30 Public Islamic Select Treasures Fund 31 May 10
Public Islamic Dividend Fund 8 Public Islamic Money Market Fund 30 June 38
Public Islamic Emerging Opportunities Fund 20 Public Islamic Income Fund 31 July 34
Public Islamic Enhanced Bond Fund 32 Public Islamic Opportunities Fund 31 July 7
Public Islamic Enterprises Equity Fund 18 Public Islamic Select Bond Fund 31 July 33
Public Islamic Equity Fund 6 Public Islamic Select Enterprises Fund 31 July 12
Public Islamic Growth & Income Fund 17 Public Islamic Treasures Growth Fund 31 August 14
Public Islamic Income Fund 34 Public Islamic Advantage Growth Equity Fund 30 September 19
Public Islamic Infrastructure Bond Fund 35 Public Islamic Enterprises Equity Fund 30 September 18
Public Islamic Mixed Asset Fund 27 Public Asia Ittikal Fund 31 October 21
Public Islamic Money Market Fund 38 Public Islamic Asia Tactical Allocation Fund 31 October 30
Public Islamic Optimal Equity Fund 25 Public Islamic Growth Balanced Fund 31 October 26
Public Islamic Optimal Growth Fund 11 Public China Ittikal Fund 30 November 23
Public Islamic Savings Fund 16 Public Islamic Alpha-40 Growth Fund 30 November 13
Public Islamic Sector Select Fund 9 Public Islamic Asia Leaders Equity Fund 30 November 24
Public Islamic Select Bond Fund 33 Public Islamic Infrastructure Bond Fund 30 November 35
Public Islamic Select Enterprises Fund 12 Public Islamic Mixed Asset Fund 30 November 27
Public Islamic Select Treasures Fund 10 Public Islamic Sector Select Fund 30 November 9
Public Islamic Strategic Bond Fund 36 Public Ittikal Sequel Fund 30 November 15
Public Islamic Treasures Growth Fund 14 Public Islamic Enhanced Bond Fund 31 December 32
Public Ittikal Fund 5 Public Islamic Growth & Income Fund 31 December 17
40
A copy of the Master Prospectus 1 of Public Series of Shariah-Based Funds dated 30 April 2017 and Prospectus of Public e-Islamic Cash Deposit
Fund dated 9 March 2017 have been registered by, and lodged with, the Securities Commission Malaysia (SC), which shall not be interpreted to
mean that the SC recommends the investment.
The SC shall not be liable for any non-disclosure on the part of the management company and takes no responsibility for the contents of the
Prospectuses, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of the Prospectuses.
Investors are advised to read and understand the contents of the above Prospectuses. If in doubt, please consult a professional adviser.
You have the right to request for a copy of the Product Highlights Sheet of the fund(s). You are advised to read and understand the contents of
the relevant fund’s Product Highlights Sheet before making any investment decision.
Applications by investors to purchase units of the funds must come in the form of a duly completed application form referred to and accompanying
the (relevant) Prospectuses.
Investors should note that there are fees, charges and risks involved in investing in unit trust funds. Therefore, you should consider carefully the
fees, charges and risks before making an investment decision. Please refer to the Prospectuses for more information.
Unit prices and distributions payable, if any, may go down as well as up.
Past performance of the funds should not be taken as an indication of future performance. Neither the Manager nor the Trustee guarantees the
performance of any of the funds or the repayment of capital.
The funds’ past distribution is not a guarantee of future distributions. Where unit split or distribution is declared, investors are advised that
following the issue of additional units and/or distribution, the net asset value per unit will be reduced accordingly to reflect/account for the unit split
and/or distribution.
Where a unit split is declared, investors should note that the value of their investment in Ringgit Malaysia terms will remain unchanged after the
distribution of additional units.
While it is the Manager’s policy to discourage loan financing in the purchase of units, nevertheless, this facility is available to interested investors.
However, YOU are advised to read and understand the contents of the unit trust loan financing risk disclosure statement before deciding to
borrow to purchase units.
Where a free copy of Prospectus and Product Highlights Sheet can be obtained: Unit Trust Consultants (UTCs) of Public Mutual or contact
Public Mutual Hotline: 03-6207 5000 for assistance.
Lipper Leaders:
Total Return
Lipper ratings for Total Return reflect funds’ historical total return performance relative to peers.
Consistent Return
Lipper ratings for Consistent Return reflect funds’ historical risk-adjusted returns, adjusted for volatility, relative to peers.
Preservation
Lipper ratings for Preservation reflect funds’ historical loss avoidance relative to other funds within the same asset class. Preservation ratings are relative, rather than
absolute measures, and funds named Lipper Leaders for Preservation may still experience losses periodically; those losses may be larger for equity and mixed equity
funds than fixed income funds.
The Lipper ratings are subject to change every month and are based on an equal-weighted average of percentile ranks for the Total Return, Consistent Return and
Preservation metrics over three-, five-, and ten-year periods (if applicable). The highest 20% of funds in each peer group are named Lipper Leader or a score of 5, the
next 20% receive a score of 4, the middle 20% are scored 3, the next 20% are scored 2, and the lowest 20% are scored 1.
Lipper ratings are not intended to predict future results, and Lipper does not guarantee the accuracy of this information.
Lipper Leaders (overall) - All Ratings as of 30 November 2017 - Ratings for Total Return reflect funds’ historical total return performance relative to peers. Ratings for
Consistent Return reflect funds’ historical risk-adjusted returns relative to peers. Lipper ratings for Preservation are relative, rather than absolute. Lipper Leader ratings
DO NOT take into account the effects of sales charges. Ratings are based on an equal-weighted average of percentile ranks for each measure over overall period.
41
Morningstar Rating™
The Morningstar Rating™ is a quantitative assessment of a fund’s past performance, incorporating fee, return and risk, measured from one to five stars. It uses focused
comparison groups – the Morningstar Categories – to measure the fund’s risk-adjusted performance and it places stronger emphasis on downside variations. The Top
10% of funds in a category will receive five stars, the next 22.5% will receive four stars, the middle 35% will receive three stars, the next 22.5% will receive two stars and
the bottom 10% will receive one star.
© 2017 Morningstar Asia Limited All Rights Reserved. The information contained herein:
is proprietary to Morningstar;
may not be copied (save (i) as incidentally necessary in the course of viewing it online, and (ii) in the course of printing off single copies of web pages on which it
appears for the personal non-commercial use of those authorised to view it on-line), adapted or distributed; and
is not warranted to be accurate, complete or timely.
This Morningstar-sourced information is provided to you by Public Mutual Berhad and is at your own risk. You agree that Morningstar is not responsible for any
damages or losses arising from any use of this information and that the information must not be relied upon by you the user without appropriate verification. Public
Mutual Berhad informs you as follows: (i) no investment decision should be made in relation to any of the information provided other than on the advice of a professional
financial advisor; (ii) past performances is no guarantee of future results; and (iii) the value and income derived from investments can go down as well as up.
The P ITTIKAL, PIEF, PIOF, PIDF, PAIF, PIADF, PISSF, PCIF, PISTF, PIOGF, PISEF, PIA40GF, PITGF, PITSEQ, PISVF, PIMXAF, PISGIF, PIENTEF, PESMACF,
PESMAGF, PIAVGEF, PIGRBF, PIEMOF and PIOEF are not in any way sponsored, endorsed, sold or promoted by FTSE International Limited ("FTSE") or by Bursa
Malaysia Berhad ("BURSA MALAYSIA") or by the London Stock Exchange Group companies (the "LSEG") and neither FTSE nor BURSA MALAYSIA nor LSEG makes
any warranty or representation whatsoever, expressly or impliedly, either as to the results to be obtained from the use of the FTSE BURSA MALAYSIA EMAS SHARIAH
INDEX, FTSE BURSA MALAYSIA SMALL CAP SHARIAH INDEX, FTSE BURSA MALAYSIA HIJRAH SHARIAH INDEX and the customised index by FTSE based on
the constituents with market capitalisation below RM6.0 billion within the FTSE BURSA MALAYSIA EMAS SHARIAH INDEX ("the Indices"), and/or the figure at which
the said Indices stand at any particular time on any particular day or otherwise. The Indices are compiled and calculated by FTSE. However, neither FTSE nor BURSA
MALAYSIA nor LSEG shall be liable (whether in negligence or otherwise) to any person for any error in the Indices and neither FTSE nor BURSA MALAYSIA nor LSEG
shall be under any obligation to advise any person of any error therein.
"FTSE®", "FT-SE®" and "Footsie®" are trade marks of LSEG and are used by FTSE under licence. "BURSA MALAYSIA" is a trade mark of BURSA MALAYSIA.
The S&P Shariah BMI Asia Ex-Japan Index, S&P Shariah BMI Hong Kong and China ‘H’ Shares Index, S&P Shariah BMI Taiwan Index, the customised benchmark
index for PAIF, the customised benchmark index for PIALEF, the customised benchmark index for PIA40GF, the customised benchmark index for PIENTEF and the
customised benchmark index for PIOEF are products of S&P Dow Jones Indices LLC (“SPDJI”), and have been licensed for use by Public Mutual Berhad. Standard &
Poor’s® and S&P® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark
Holdings LLC (“Dow Jones”); Standard & Poor’s®, S&P® and Dow Jones® are trademarks of the SPDJI; and these trademarks have been licensed for use by SPDJI
and sublicensed for certain purposes by Public Mutual Berhad. Public Mutual Berhad’s PAIF, PIADF, PCIF, PIALEF, PIA40GF, PIENTEF, PIATAF and PIOEF are not
sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and none of such parties make any representation regarding the
advisability of investing in such product(s) nor do they have any liability for any errors, omissions, or interruptions of the S&P Shariah BMI Asia Ex-Japan Index, S&P
Shariah BMI Hong Kong and China ‘H’ Shares Index, S&P Shariah BMI Taiwan Index, the customised benchmark index for PAIF, the customised benchmark index for
PIALEF, the customised benchmark index for PIA40GF, the customised benchmark index for PIENTEF and the customised benchmark index for PIOEF.
Notes: The total return is the overall return of the fund over the period.
The annualised return is the compounded annual rate of return of the fund over the specified period.
Fund performance should be evaluated against the benchmark index.
The performances of funds are calculated on NAV-to-NAV basis and sourced from Lipper.
Commencement date is the last day of the initial offer period.
The distribution yields of funds are computed by dividing gross distribution for the financial year/period over the Ex-NAV per unit and it is not directly
comparable with fixed deposit rate.
The asset allocation presented have been verified by the Trustees.
The stocks invested by the fund are classified according to various criteria which include the country classification assigned by international index
providers and the company’s main business interest in terms of geographical segmentation.
For more information, please contact any of our authorised UTCs, agency offices, branches Public Mutual Berhad (23419-A)
or call Public Mutual Hotline at 03-6207 5000 or visit us at our website at http://www.publicmutual.com.my Block B, Sri Damansara Business Park, Persiaran Industri,
Bandar Sri Damansara, 52200 Kuala Lumpur, Malaysia.
Tel : 03-62796800 Fax : 03-62779800
42