AIA Pension and Asset Management Sdn. Bhd. (1011637-P)
AIA PAM – Growth Fund Investment Objective The Fund seeks to provide returns through capital growth.
Investment Strategy The Fund will invest in local and foreign equities with a bias towards equities with potential for growth. The Fund will also invest at least 30% of its NAV in local fixed income instruments with a minimum credit rating of “BBB3” or “P2” by RAM or equivalent rating by MARC. Fund Details Unit NAV (31 Jan 2017) Fund Size (31 Jan 2017) Fund Currency Fund Launch Fund Inception Fund Management Charge Investment Manager Basis of Unit Valuation Frequency of Unit Valuation Benchmark
: RM 1.1501 : RM 50.00 million : Ringgit Malaysia : May 16, 2013 : Jun 05, 2013 : 1.50% p.a : AIA Pension and Asset Management Sdn. Bhd. : Net Asset Value (NAV) : Daily : 30% FTSE Bursa Malaysia Top 100 Index + 30% MSCI AC Asia ex Japan Index + 40% Quant Shop MGS All Bond Index
Top Five Holding 1. Investec Global Strategy Asian Equity
iShares MSCI Asia ex-Japan ETF
Konsortium Prohawk Sdn Bhd 20/12/24
Westport Malaysia Sdn Bhd 03/04/23
Sabah Development Bank 16/08/2019
Excess 0.13% 1.11% 0.15% -0.15% Source: AIA Pension and Asset Management Sdn. Bhd., Bloomberg as at 31 Jan 2017. ^ Annualised return Market Review For fixed income, Malaysian government bonds extended gains, amid net buying interest in January. Sentiment improved as some foreign investors returned and tapped on Malaysian government bonds, aided by the recovery in Ringgit and stabilising crude oil prices. Foreign holdings in Malaysian government bonds registered a second consecutive month of decline, from 33.2% in November to 32.1% in December 2016. However, foreign selling pressure eased to RM6.04 billion in December, compared to the larger outflow of RM18.8 billion registered in the prior month. Meanwhile, Bank Negara kept interest rate unchanged at 3.00% in January, and believes that the Malaysian economy remains on track to expand as projected. For equity, the Malaysian market started 2017 on a positive note with the FBM100 Index up by 2.3% in January. Nevertheless, the market underperformed MSCI Asia ex Japan, which was up by 4.8% in MYR terms. Asian markets appeared to have shrugged off concerns about President Donald Trump’s protectionist policies and staged a strong start to the year. The local market saw some major news about M&A activities, with the announcement by Sime Darby Bhd to list its plantation and property businesses, and UMW Holdings Bhd restructuring its oil and gas business. Blue chip stocks also saw strong gains, with CIMB Group Holdings Bhd, Sime Darby Bhd and Genting Malaysia Bhd leading the pack partly driven by foreign fund inflows and M&A themes. On the foreign front, MSCI Asia ex Japan rose by 4.8% in MYR terms led by China which staged a strong rally supported by strengthening of RMB by 2.2% during the month. Hong Kong was also up following the rebound in property sector amid strong property sales while the Korean market increased on the back of positive earnings revision in the technology sector.
Risk Investment risk involves the uncertainties relating to the country’s economic situation, political condition and also price volatility of stocks held as a result of company specific risk. Risk Management The Investment Manager employs structured investment process to minimize market risk. Investment guidelines also prescribe limits in terms of single user limit and strict and frequent stock evaluation to minimize company specific risk.
Market Outlook For fixed income, sentiment in the Ringgit bond market has improved alongside with the Ringgit strength, with strong buying interest seen from both domestic and foreign investors in late January. The real money flows together with domestic liquidity may provide further support to the market in the near term. For equity, following the inauguration of President Donald Trump, he has signaled his protectionist intent on trade and imposed restriction on immigration. Nevertheless, the market has shrugged these off and focused instead on the expectation of stronger US economic growth. Given that Malaysia’s economic fundamentals are expected to remain intact supported by steady global growth, rising commodity prices and the implementation of infrastructure projects, the domestic market could continue to be well supported.
Replacement Disclosure Document dated 9 December 2016 of the AIA Private Retirement Scheme has been registered with the Securities Commission Malaysia, who takes no responsibility for their contents. Copies of the Replacement Disclosure Document and Pro duct Highlights Sheet (known as “PHS”) are available from our office and all authorised agents/distributors of AIA Pension and Asset Management Sdn Bhd and you have the right to request for the Replacement Disclosure Document and PHS. Please read and understand the contents of the Replacement Disclosure Document and PHS before making any investment decision. Units are issued upon our receipt and satisfactory processing of a duly completed application form referred to in and accompanying the Replacement Disclosure Document. In the event of discrepancy between the fact sheet and the Replacement Disclosure Document, the information in the Replacement Disclosure Document shall prevail.