FUND FACTSHEET – APRIL 2016
All data expressed as at 31 March 2016
unless otherwise stated
RHB SMART BALANCED FUND
This Fund aims to maximize total returns through a combination of long term growth of capital and current income consistent with the preservation of capital through a
combination of investments in companies with market capitalization of not more than RM1 billion and investments in fixed income securities.
INVESTOR PROFILE
INVESTMENT STRATEGY
This Fund is suitable for Investors who:
• willing to accept moderate risk in their investments in order to achieve long term capital growth and
income.
• 40% - 60% of NAV: Investments in securities of companies
with market capitalization of not more than RM1 billion.
• 40% - 60% of NAV: Investments in fixed income securities,
money market instruments, cash and deposits with financial
institutions.
FUND PERFORMANCE ANALYSIS
FUND DETAILS
Performance Chart Since Launch*
Investment Manager
Trustee
Fund Category
Fund Type
Launch Date
Unit NAV
Fund Size (million)
Units In Circulation (million)
Financial Year End
MER (as at 31 Mar 2015)
Min. Initial Investment
Min. Additional Investment
Benchmark
Cumulative Performance (%)*
1 Month
Fund
2.44
Benchmark
1.94
1 Year
12.39
-1.05
Fund
Benchmark
Calendar Year Performance (%)*
2015
Fund
26.34
Benchmark
4.86
3 Months
-0.73
-0.85
6 Months
9.50
4.27
YTD
-0.73
-0.85
3 Years
65.48
19.89
5 Years
86.68
18.75
Since Launch
346.18
80.34
2014
3.46
-1.12
2013
32.22
20.40
2012
11.58
0.76
Source: Lipper IM
Sales Charge
Redemption Charge
Annual Management Fee
Annual Trustee Fee
Switching Fee
Redemption Period
2011
1.27
-2.26
Distribution Policy
*The implementation of GST will be effective from 1 April 2015 at the rate
of 6% and the fees or charges payable is exclusive of GST.
*For the purpose of computing the annual management fee and annual
trustee fee, the NAV of the Fund is exclusive of the management fee and
trustee fee for the relevant day.
FUND PORTFOLIO ANALYSIS
Sector Allocation*
Unquoted Bonds
25.31%
Trading / Services
19.12%
Industrial Products
RHB Asset Management Sdn.
Bhd.
HSBC (Malaysia) Trustee Bhd
Balanced Fund
Income and Growth Fund
07 September 2004
RM1.2657
RM48.95
38.68
31 March
1.58%
RM200.00
Any amount
50% FBM Small Cap Index +
50% 12-month FD rate by
Maybank Bhd
Up to 5.26% of investment
amount
None
1.50% p.a. of NAV*
Up to 0.07% p.a. of NAV*
None
Within 10 days after receipt
the request to repurchase
Annually, if any
FUND STATISTICS
Historical NAV (RM)
1 Month
High
1.3534
Low
1.2589
12 Months
1.3669
1.1655
Since Launch
1.3669
0.4557
17.82%
Source: Lipper IM
Consumer Products
11.33%
Finance
0.55%
Cash
25.87%
0%
10%
20%
Top Holdings (%)*
ALPHA CIRCLE - 5.30% (23/02/2021)
UEM SUNRISE BHD-4.9% (30/06/2021)
PIE INDUSTRIAL BHD
BRIGHT FOCUS BHD 2.5% (24/01/2030)
UNITED U-LI CORPORATION
*As percentage of NAV
RHB Asset Management Sdn Bhd (174588-x)
30%
10.37
6.16
5.46
3.67
3.12
Historical Distributions (Last 5 Years) (Net)
Distribution
Yield (%)
(sen)
28 Mar 2016
9.0200
6.96
15 Apr 2015
8.0000
6.57
31 Mar 2014
7.5000
6.63
31 Mar 2013
31 Mar 2012
4.9350
5.62
Source: RHB Asset Management Sdn. Bhd.
Head Office: 19th Floor, Plaza OSK, Jalan Ampang, 50450 Kuala Lumpur
General Line: 603-2164 3036
FUND FACTSHEET – APRIL 2016
All data expressed as at 31 March 2016
unless otherwise stated
RHB SMART BALANCED FUND
This Fund aims to maximize total returns through a combination of long term growth of capital and current income consistent with the preservation of capital through a
combination of investments in companies with market capitalization of not more than RM1 billion and investments in fixed income securities.
MANAGER'S COMMENTS
MARKET REVIEW
The key headline in March was the further stimulus (increase bond buying from Euro60 bn a month to Euro80 bn a month) and rate cut (cut deposit rate by 10bp to minus
0.4%) announced by the ECB, which did little to boost global confidence. Brent Crude Oil price increased by +10.09% mom to USD39.60/barrel, while registering an increase of
+6.2% on the ytd basis. The uptrend was due to positive sentiments from the up-coming meeting between the OPEC and non-OPEC producers, in the hope of freezing
outputs. Crude Palm Oil (CPO) spot price continued its upward momentum to register +9.14% mom in the month of March 2016 to close at RM2676/tonnes, while on ytd
basis, it increased by 21.6%. The positive uptrend was due to more severe than expected loss in global CPO output, affected by the El Nino drought.
FBMKLCI increased by +62.83 points in the month of March 2016, to close at 1717.58 points, an increase of +3.80% month-on-month (mom), while increased by +1.48% on a
year-to-date basis (ytd). The benchmark index rebounded after registering losses in the first two months of the year due to positive sentiments from the strengthening of the
Ringgit, increasing interest from foreign investors, and rising oil prices.
The Malaysia Ringgit has strengthened to RM3.8820/USD, appreciated by +7.71% mom in March 2016. The strengthening of the Ringgit was attributed to the strengthening of
the oil prices and increasing inflows of foreign investors.
MARKET OUTLOOK & STRATEGY
Despite the recent headline on IMF downgrading world growth expectation for 2016, investors missed the key point that the world is still on positive growth post expectation
downgrade. The economic engine in the US and Europe will continue to drive the global economic engine. As for China, we view 6.5% growth target to be decent. Japan’s
headline inflation though look muted, investors have to take note that the depressed inflation is mainly contributed by low commodity prices.
In the case of Malaysia, the Bank Negara forecasted 2016’s GDP to be in the range of 4.0% to 4.5%, which we view as achievable. Export continues its positive momentum in
the first two months of the year, and we expect the trend to continue. 2016 will be the first full year of GST collection, and this will enhance government’s coffer.
In the first 3 months of the year, we are seeing investors fleeing companies with export exposure. This provides opportunity for the fund to collect companies where the
growth going forward will be driven by new product launches and capacity expansion.
DISCLAIMER:
Based on the fund’s portfolio returns as at 15 March 2016, the Volatility Factor (VF) for this fund is 13.9 and is classified as “Very High”. (source: Lipper) “Very High” includes
funds with VF that are above 10.6 (source: Lipper). The VF means there is a possibility for the fund in generating an upside return or downside return around this VF. The
Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC will be revised every six months. The fund’s
portfolio may have changed since this date and there is no guarantee that the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the
market for at least 36 months will display the VF and its VC. The VC referred to was dated 31 December 2015 which is calculated once every six months and is valid until its
next calculation date, i.e. 30 June 2016.
A Product Highlights Sheet (“PHS”) highlighting the key features and risks of the Fund is available and investors have the right to request for a PHS. Investors are advised to
obtain, read and understand the PHS and the contents of the Master Prospectus dated 15 June 2015 and its supplementary(ies) (if any) (“the Master Prospectus”) before
investing. The Master Prospectus has been registered with the Securities Commission Malaysia who takes no responsibility for its contents. Amongst others, investors should
consider the fees and charges involved. Investors should also note that the price of units and distributions payable, if any, may go down as well as up. Where a distribution is
declared, investors are advised that following the issue of additional units/distribution, the NAV per unit will be reduced from cum-distribution NAV to ex-distribution NAV.
Any issue of units to which the Master Prospectus relates will only be made on receipt of a form of application referred to in the Master Prospectus. For more details, please
call 1-800-88-3175 for a copy of the PHS and the Master Prospectus or collect one from any of our branches or authorised distributors.
The Manager wishes to highlight the specific risks of the Fund are liquidity risk of underlying investments, equity investment risks such as market risk and particular security
risk, interest rate risk, credit risk and inflation/purchasing power risk. These risks and other general risks are elaborated in the Master Prospectus.
This factsheet is prepared for information purposes only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any
specific person who may receive it. Past performance is not necessarily a guide to future performance. Returns may vary from year to year.
RHB Asset Management Sdn Bhd (174588-x)
Head Office: 19th Floor, Plaza OSK, Jalan Ampang, 50450 Kuala Lumpur
General Line: 603-2164 3036