a) Funds are divided into 4 Main Categories consisting of:
- Asia Excluding Japan
- Equity Malaysia
- Greater China
- Fixed Income (Malaysia)
c) Movement of funds on the ranking table are indicated by the colored bars below:
Fund movements are determine by comparing their previous ranking on the 31st January 2013 with the current ranking as of 15th February 2013.
d) In the previous review, I've included a new ranking table for each category to indicate the best performing fund according to Gain/Loss within a 2 week period. This time, I've also added extra information to the ranking table such as:
- Previous ranking and current ranking table in order for investors to determine which fund is consistently performing.
- Average 2 Weeks Gain/Loss in Percentage to reflect the overall performance of funds in a particular category.
e) If this is your first time reading the review, I would suggest that you read "A Guide Towards Understanding Unit Trust Performance Table" before proceeding to the review.
f) If you still find difficulty in understanding the review, feel free to email me at sickfreak03@gmail.com to inquire.
Review
Category : Asia excluding Japan
Top 10 Best Performing Fund for Category Asia Excluding Japan (click Image to Enlarge):
2 Weeks Gain/Loss Ranking Table for Category Asia Excluding Japan:
Fund Name
|
YTD as of
15th Feb 2013 |
YTD as of
28th Feb 2013 |
2 Weeks
Gain / Loss (%) |
2 Weeks Gain/
Loss Rankings |
Previous
2 Weeks Gain/Loss Rankings |
Public Islamic Asia
Dividend Fund
|
-1.02
|
-1.29
|
-0.27
|
2
|
4
|
Eastspring Investments
Asia Pacific Shariah Equity Fund
|
2.89
|
2.08
|
-0.81
|
6
|
5
|
Public Asia Ittikal Fund
|
-1.7
|
-2.33
|
-0.63
|
4
|
8
|
MAAKL Shariah
Asia-Pacific Fund
|
0.04
|
-1.83
|
-1.87
|
8
|
N/A
|
CIMB Islamic Asia Pacific
Equity Fund
|
3.4
|
3.19
|
-0.21
|
1
|
2
|
Eastspring Investments
Asia Pacific Equity MY Fund
|
3.97
|
1.87
|
-2.1
|
9
|
7
|
Hong Leong Asia-Pacific
Dividend Fund
|
3.64
|
3.23
|
-0.41
|
3
|
3
|
PB Islamic Asia Equity
Fund
|
-1.95
|
-2.75
|
-0.8
|
5
|
9
|
Pheim Asia Ex-Japan
Islamic
|
0.71
|
-0.42
|
-1.13
|
7
|
6
|
Pheim Asia Ex-Japan
|
3.97
|
1.59
|
-2.38
|
10
|
1
|
AVERAGE 2 WEEKS GAIN/LOSS (%)
|
-1.06
|
||||
Review of Asia Excluding Japan Funds:
For the past 2 weeks, we witness Asia Excluding Japan funds losing an average of 1.06% from its YTD.
The biggest loser was Pheim Asia Ex-Japan fund, shedding 2.38% of its YTD. The drop from Rank 1 to Rank 10 in the 2 Weeks Gain/Loss ranking for Pheim Asia is a result from having 10.54% of it's funds are invested in Hong Kong equities, which is part of China.
The drop in overall performance of Asia Ex Japan funds is largely due to uncertainty in China's monetary policy. Asia countries have previously benefited from the spillover of China loosing it's monetary policy. Now certain fears have arisen about China intending to start tightening their monetary policy again. Without the loose money from China, progress and growth will be affected.
However discounting the effects of China and Hong Kong, the Asia market will still be able to see growth fueled by exports to countries other then China as well as local demand. Here's an article on Thailand's expected growth for 2013.
On the longer horizon, Public Islamic Asia Dividend Fund has overtaken Eastspring Investment Asia Pacific Shariah Equity Fund as the number 1 ranked fund in terms of 5 years annualized returns. If you've seen my previous article on the Edge-Lipper 2013 Awards, Public Islamic Asia Dividend Fund is the 2013 winner for category Equity Asia Pacific Ex Japan (3 Years and 5 Years).
While there is uncertainty over China's monetary policy, there will still be growth for the Asia region created by local demand. Investors "should" benefit from having a fund or two invested in Asia ex Japan.
(Long Term) Rank 1 Best Performing Over 5 Year Period :
Public Islamic Asia Dividend Fund
(Potential) Rank 1 Gain/Loss for 2 Week Period :
CIMB Islamic Asia Pacific Equity Fund
Review
Category : Greater China
Top 10 Best Performing Fund for Category Greater China (click Image to Enlarge):
2 Weeks Gain/Loss Ranking Table for Category Greater China:
2 Weeks Gain/Loss Ranking Table for Category Greater China:
Fund Name
|
YTD as of
15th Feb 2013 |
YTD as of
28th Feb 2013 |
2 Weeks
Gain / Loss (%) |
2 Weeks Gain/
Loss Rankings |
Previous
2 Weeks Gain/Loss Rankings |
CIMB-Principal Greater
China Equity Fund
|
3.94
|
0.3
|
-3.64
|
9
|
3
|
CIMB-Principal Greater
China Equity Fund
|
3.94
|
0.3
|
-3.64
|
9
|
3
|
PB China Pacific Equity
Fund
|
4.16
|
1.5
|
-2.66
|
6
|
8
|
Public China Ittikal Fund
|
0.22
|
-2.28
|
-2.50
|
5
|
7
|
Public China Select Fund
|
3.44
|
1.72
|
-1.72
|
1
|
6
|
AmIslamic Greater China
|
0.16
|
-2.11
|
-2.27
|
3
|
10
|
Eastspring Investments
Dinasti Equity Fund
|
2.22
|
-0.18
|
-2.40
|
4
|
5
|
Hwang China Select Fund
|
7.5
|
5.45
|
-2.05
|
2
|
1
|
MAAKL Greater China Fund
|
4.23
|
0.66
|
-3.57
|
8
|
2
|
Manulife Investment -
China Value Fund
|
7.05
|
3.64
|
-3.41
|
7
|
9
|
AVERAGE 2 WEEKS GAIN/LOSS (%)
|
-2.79
|
||||
Review of Greater China Funds:
Among the 4 categories in this review, the Greater China Fund category made the highest 2 weeks average loss of -2.79% of YTD.
Biggest loser in the 2 weeks Gain/Loss category comes from CIMB Principal Greater China Equity Fund, shedding 3.64% of it's YTD. Public China Select Fund is the most resilient of the 10 funds, shedding only 1.72% of it's YTD.
As I've mentioned in the Asia excluding Japan review, fears on China's monetary policy has seen the share prices from key sectors drop in the past two days. You can read more details HERE.
As long as uncertainties continue to exist, it is highly likely that China related funds will continue to see unit price fluctuating, going up at the slightest hint of good news and vice versa.
On the longer horizon, I believe China will continue to growth albeit with a steadier pace. With the new government coming down hard on corruption and controlling the flow of funds, this is seen as progressive and sustainable development for China. The current volatility creates an opportunity for investors to purchase more units at a lower price in order to obtain higher gains in the future.
(Long Term) Rank 1 Best Performing Over 5 Year Period :
CIMB Principal Greater China Equity Fund
(The Edge-Lipper Award winner for Equity Greater China Category - 3 Year)
Eastspring Investment Dinasti Equity Fund
Public China Select Fund
Review
Category : Equity Malaysia
Top 10 Best Performing Fund for Category Equity Malaysia (click Image to Enlarge):
2 Weeks Gain/Loss Ranking Table for Category Equity Malaysia:
Fund Name
|
YTD as of
15th Feb 2013 |
YTD as of
28th Feb 2013 |
2 Weeks
Gain / Loss (%) |
2 Weeks Gain/
Loss Rankings |
Previous
2 Weeks Gain/Loss Rankings |
MAAKL-HDBS Flexi Fund
|
-2.5
|
-1.18
|
1.32
|
2
|
3
|
Kenanga Growth Fund
|
-0.64
|
0.28
|
0.92
|
3
|
3
|
AMB Dividend Trust Fund
|
-1.24
|
-0.52
|
0.72
|
5
|
8
|
Phillip Master Equity
Growth Fund
|
-1.13
|
0.2
|
1.33
|
1
|
6
|
Kenanga Syariah Growth
Fund
|
-1.2
|
-0.55
|
0.65
|
7
|
7
|
MAAKL Dividend Fund
|
-0.73
|
0
|
0.73
|
4
|
10
|
Hwang AIIMAN Growth
|
-1.38
|
-0.7
|
0.68
|
6
|
5
|
Public Focus Select Fund
|
-0.85
|
-0.24
|
0.61
|
8
|
1
|
CIMB-Principal Equity
Fund
|
-2.12
|
-1.76
|
0.36
|
10
|
9
|
MAAKL Al-Fauzan
|
-0.56
|
-0.17
|
0.39
|
9
|
2
|
AVERAGE 2 WEEKS GAIN/LOSS (%)
|
0.77
|
||||
Review of Equity Malaysia Funds:
The average 0.77% increase in YTD crowns Equity Malaysia Category as the best performing Category for the past 2 weeks. Philip Master Equity Growth Fund is the best performing fund in the 2 Weeks Gain/Loss ranking table with 1.33% gain. MAAKL-HDBS Flexi Fund follows closely with 1.32% gain.
The past two weeks have seen the our Local Bursa in a passive mood as investors are wary of the upcoming election. Apart from a few good news coming from bluechip companies, such as Axiata announcing special dividend and Maybank posting record profits for their Financial Year End, the market has certainly seen better days.
There's not much that can be predicted now. The picture will painted clearer once the outcome of the election is decided.
(The Edge-Lipper Award winner for Equity Malaysia - 3 Year & 5 Year)
Kenanga Growth Fund
Philip Master Equity Growth Fund
Review
Category : Fixed Income (Malaysia)
Top 10 Best Performing Fund for Category Fixed Income (Malaysia) (click Image to Enlarge):
2 Weeks Gain/Loss Ranking Table for Category Fixed Income (Malaysia):
Fund Name
|
YTD as of
15th Feb 2013 |
YTD as of
28th Feb 2013 |
2 Weeks
Gain / Loss (%) |
2 Weeks Gain/
Loss Rankings |
Previous
2 Weeks Gain/Loss Rankings |
AmDynamic Bond
|
0.61
|
0.76
|
0.15
|
1
|
4
|
PB Islamic Bond Fund
|
0.03
|
0.14
|
0.11
|
5
|
5
|
KAF Bond Fund
|
0.61
|
0.73
|
0.12
|
3
|
2
|
Public Islamic Bond Fund
|
0.12
|
0.25
|
0.13
|
2
|
6
|
Public Bond Fund
|
0.44
|
0.56
|
0.12
|
3
|
2
|
RHB GoldenLife Today
|
0.09
|
0.19
|
0.10
|
6
|
7
|
PB Fixed Income Fund
|
0.54
|
0.61
|
0.07
|
7
|
1
|
Hwang AIIMAN Income Plus
|
newcomer
|
0.57
|
NA
|
NA
|
NA
|
AMB Income Trust
|
newcomer
|
7.88
|
NA
|
NA
|
NA
|
CIMB-Principal Strategic
Bond Fund
|
0.22
|
0.13
|
-0.09
|
8
|
8
|
AVERAGE 2 WEEKS GAIN/LOSS (%)
|
0.09
|
||||
Review of Fixed Income (Malaysia) Funds:
AmDymanic Bond sits on the top for both 2 Weeks Gain/Loss Rankings and 5 Year Annualized Return Ranking. Posting 0.15% gain for the past two weeks, AmDynamic Bond is the undisputed fixed income champion and was rewarded once again with the Edge-Lipper Award 2013 for Bond Malaysian Ringgit - 5 Years.
This time we see the re-entry of Hwang AIIMAN Income Plus and a new entry from AMB Income Trust into the top 10 list. What baffles me most is the YTD for AMB Income Trust which currently stands at 7.88%. It is highly unusual for a fixed income fund to post +7.88% gain in a matter of 2 months. I intend to look into this fund in one of my future post!
(The Edge-Lipper Award winner for Bond Malaysian Ringgit - 3 Year)
AMB Income Trust
(Potential) Rank 2 Gain/Loss for 2 Week Period :
Public Islamic Bond Fund*
-End of Review-
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