Findings for IME Country Equity Market Indicator - Trial 2 (Japan Equity Market)

Short Term Unit Trust Investing

I'm putting up this blog post to summarize a recently concluded trial run for short term investing using Unit Trust fund. The trigger signal to buy (entry) and to sell (exit) for this trial will be determined by the signals triggered by my own self discovered indicator called "Country Equity Market Indicator".  

A trial will be initiated each time a buy signal is triggered for a specific country indicator. As of time of writing (26 April 2016), two trials have been triggered. One is ongoing and the other has concluded. The trials are as listed below:

1. Trial (India Equity Market) - Posted on IME Facebook Notes (Ongoing)
2. Trial 2 (Japan Equity Market) - Posted on IME Facebook Notes (Completed)

Trial 2 (Japan Equity Market)
Amount Invested : RM5,000
Platform : eUnittrust
Sales Charge : 0% (specially requested)
Fund Name : Affin Hwang Japan Growth Fund
Expected Investment Period : Between 1 week to 18 months
Exit Strategy : When sell signal for “Japan Equity Market Indicator” triggers or when loss reaches 5% (whichever comes first)

Trigger Dates
Buy signal triggered : 12th April 2016
Sell signal triggered : 19th April 2016

Profit/Loss Results
From Date: April 12, 2016
To Date: April 19, 2016
Returns: +3.7 %

Findings for this trial

• My problem here is the manual analysis that I have to carry out for the indicators. When I conduct my weekly analysis for the indicators on the 13th of April 2016 at night, I found out that the buy signal for Japan Equity Market was triggered on the 12th of April 2016.
• Despite missing the buy signal on the 12th, I decided to continue with the trial run by investing into Affin Hwang Japan Growth Fund on the 14th of April 2016. The buy in price on that date was RM0.5890 per unit
• The second problem for this trial was the sell signal triggered on the 19th April 2016. As I have mentioned earlier, I only conduct the my analysis on a weekly basis. This means that I discovered the sell signal a day later, on the 20th April 2016 at night. I conducted the sell transaction via eUnittrust the following day (21st April 2016), selling all units at RM0.5987
• The actual buy and sell transactions for this trial are as shown below:

Summary

1. Ideally, the Country Equity Market Indicator was a success for this particular trial. If the buy and sell transaction were done on the 12th and 19th April, I would have reap RM185 (+3.7%) returns from an investment of RM5000.
2. Due to late entry and late exit as per explained in the "Findings for this trial" section, I made only RM5.94 (+0.12%) instead.
3. Realizing that in order to not miss the buy or sell signals, I have spent the last weekend automating the analysis using the Macro function available on Excel. Now I am able to obtain results for each country indicator at a click of a mouse. This allows me to check the indicators on a daily basis.
4. All trials are conducted using actual money in order to indicate my confidence towards the indicators. 
5. Investing short term into unit trust requires each investment to start with 0% Sales Charge.
6. I intend to continue running trials to test the consistency of each Country Equity Market Indicator. However like all investing strategy, it is not 100% guaranteed to profit all the time. My end game is to achieve is overall positive annual returns for each country indicator.

That's all for now! Happy Investing!

P.S : If you have any questions, feel free to drop me an email at shanesee03@gmail.com

P.P.S : And don't forget to LIKE Invest Made Easy facebook by clicking HERE

P.P.P.S : I've recently launched an online learning platform called Unit Trust Made Easy to help Malaysians to kick start their own unit trust investment. For further details, check it out HERE.

Unit Trust Fund Performance Review - 1st Quarter 2016

The first quarter of 2016 (January - March 2016) has just ended and it is time we take a look at the how unit trust fund from various categories performed for the first three months of this year.

1st Quarter Performance Review by Fund Categories

Top 10 Best Performing Fund Categories - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Fund Categories (1st Quarter 2016)

In addition to the top 10 best performing fund categories, I have also included the best performing fund for each of the category above:-

1. Blended - Aggressive : Libra TacticalExtra fund (+1.70%)
2. Bonds - Malaysia (Syariah) : RHB Islamic Bond fund (+2.59%)
3. Bonds - Malaysia : KAF Enhanced Bond fund (+4.52%)
4. Blended - Conservative : AMB Lifestyle Trust Today fund (+1.99%)
5. Equity - Malaysia Large-cap : KAF Core Income fund (+5.60%)
6. Money Market - Malaysia (Syariah) : Kenanga Islamic Income Fund Series 3 (+1.78%)
7. Money Market - Malaysia : Affin Hwang Wholesale I fund (+1.21%)
8. Bonds - Emerging Markets : KAF Advantage Gem Bond fund (+2.64%)
9. Property - Indirect Asia : AmAsia Pacific REITs fund (+1.88%)
10. Blended - Balanced : AMB Balanced Trust fund (+1.63%)

Top 10 Worst Performing Fund Categories - Ranked according to YTD (1st April 2016)

Top 10 Worst Performing Fund Categories (1st Quarter 2016)

As expected, the top spot for the worst performing fund category belongs to Equity - Greater China category. With the ongoing extreme volatility at the China equity market, it is of no surprise that this category sits at the top spot with an average loss of -13.19%. The spillover of China's poor performance can be seen affecting other categories such as Equity - Asia Pacific ex-Japan (Syariah), Equity Asia Pacific ex-Japan, Equity - ASEAN and Equity - Emerging Markets. 

Another observation investors should take note is the current poor performance of Equity - Malaysia Large-cap (Syariah) category which averaged -3.04% loss in the first quarter. Despite the poor performance of this category, investors can see this as a short term opportunity for funds in this category to play catch up with the benchmark index (FTSE Bursa Malaysia EMAS Shariah TR MYR). 

Take for example 5 Star Rated Equity - Malaysia Large-cap (Syariah) fund, Eastspring Dana Al-Ilham, Dana Al-Ilham's latest YTD is -2.26% vs the benchmark index of -0.44%. If there is anything to come by, this fund (along with a few others in this category) should outperform the benchmark index in the long run as shown in the historical performance graph below:

Long term performance of Dana al-Ilham vs Benchmark Index

Is this an opportunity for investors to take advantage of the current lag of funds in this category?

1st Quarter Performance Review of Individual Unit Trust Funds

The 10 Best Performing Unit Trust Funds - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Unit Trust Funds (1st Quarter 2016)

For the first quarter, the two gold feeder type funds (only two are available for Malaysian investors) occupy the top two spots with +31.71% for AmPrecious Metal fund and +25.15% for RHB Gold and General fund. The other double digit returning fund (+14.93%) for the first quarter is a feeder fund by the name of AmAdvantage Brazil which invest into the Brazil equity market. 

Another eye catching performance is by KAF Core Income fund which returned +5.60% for the first quarter. This fund has managed to outperformed the category Equity - Malaysia Large-cap average returns of +0.83%.

1st Quarter Performance Review of Individuals Funds in a Particular Category

1) Top 10 Best Performing Funds for Category Equity-Malaysia Large-cap - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Equity-Malaysia Large-cap funds (1st Quarter 2016)

As mentioned earlier, the eye catching 1st Quarter performance of KAF Core Income Fund is certainly worth a mention here. Let us take a look at the top 5 stock holdings of this fund as of 29th February 2016:

KAF Core Income fund 5 largest stock holdings as of 29th Feb 2016

By looking at the top 5 stock holdings of this fund, we  were able to figure out the reason for the outstanding performance of this fund. 

Notice the 8.85% invested into Air Asia Bhd stock? Now let's check out the YTD performance of Air Asia Bhd stock below:

Air Asia Bhd YTD returns as of 1st April 2016

With a YTD of +41.86%, the performance of Air Asia stock is the sole reason why this fund was able to post better than average return for the 1st Quarter of 2016! 

2) Top 10 Best Performing Funds for Category Equity-Malaysia Large-cap (Syariah) - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Equity-Malaysia Large-cap (Syariah) funds (1st Quarter 2016)

Also mentioned earlier in the Top 10 Worst Performing Fund Categories review, top performing and award winnings fund in this category such as Eastspring Dana Al-Ilham is currently lagging behind the benchmark index. Investing in the long run into this fund would eventually see it outperformed the benchmark index if historical track record is proven right. Other than that, there's nothing outstanding or worth mentioning in this category for the 1st Quarter of 2016.

3) Top 10 Best Performing Funds for Category Equity-Malaysia Mid/Small-cap - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Equity-Malaysia Mid/Small-cap funds (1st Quarter 2016)

There's an interesting finding here in which I hope readers would pay attention to.

On the 20th of February 2016, I posted an article entitled "Portfolio Cash Allocation" strategy. In this post I highlighted funds from this category with the best YTD as well as their cash holdings as of 31st January 2016. Check out the table below:

Mid/Small-cap fund with best YTD as of 31 Jan 2016 and respective cash holdings as of 31 Dec 2015

From the table above, there are four funds highlighted in green (cash holdings larger than 20% as of 31 Dec 2015). Out of the four, funds (Kenanga Premier, Kenanga Growth Opportunities and Libra Equity Extra Fund) are currently sitting in the Top 10 ranking for the 1st Quarter of 2016. This goes to show the effectiveness of utilizing the Portfolio Cash Allocation strategy (after a market drop) to select the best fund for short term investment.

4) Top 10 Best Performing Funds for Category Equity-Malaysia Mid/Small-cap (Syariah) - Ranked according to YTD (1st April 2016)

Top 10 Best Performing Equity-Malaysia Mid/Small-cap (Syariah) funds (1st Quarter 2016)

This category was also part of the case study for the "Portfolio Cash Allocation" strategy in which two funds with cash holding of 20% of more as of 31 Dec 2015 were highlighted as shown in the table below:

Mid/Small-cap (Syariah) fund with best YTD as of 31 Jan 2016 and respective cash holdings as of 31 Dec 2015

Libra Amanah Saham Wanita and Kenanga Islamic both finished in the Top 10 best performing fund for 1st Quarter 2016 with Libra Amanah Saham Wanita returning +1.55% YTD while Kenanga Islamic is at -0.11% YTD.  In terms of period gain between 31 Jan 2016 till 1st April 2016, Libra Amanah Saham Wanita managed to amassed +1.68% while Kenanga Islamic added +2.15%.

Summary

For the remainder of 2016, I choose to remain bearish towards the equity market. In other words, I am advising lump sum investors to consider having minimal exposure to the equity market. If you feel the need to invest, do be selective on the category or sector to invest into. By looking at the pure economic indicators, there's potential for investors to consider investing into India and Australia.

On the other hand, dollar cost averaging investors may continue to make small amount of investments into local equity funds to accumulate more units. Remember, long term dollar cost averaging investment can only work as long as you continue to accumulate units regardless of market condition. 

That's all for IME's Unit Trust Performance Review for 1st Quarter 2016!

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P.S. : You might find this review complicated and difficult to understand if you are new to unit trust investing. Fret not as Invest Made Easy has recently launched an online learning platform called "Unit Trust Made Easy". This platform will help you to learn about unit trust as well as guide you on how to get kick start your own unit trust investment. For more information, check out Unit Trust Made Easy facebook page at https://www.facebook.com/unittrustmadeeasy/

P.P.S : If you have further questions or would like to request for a personal coaching on unit trust investment, feel free to drop me an email at shanesee03@gmail.com

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Deciphering The Top 10 Performing "Growth Category" PRS Funds

It has been quite while since I put up a post on Private Retirement Scheme (PRS).  Having received quite a number of emails asking about what funds to invest into PRS recently, I've decided to put up a sequence of postings to review top performing funds from different PRS fund categories.

For this post, I will be looking at the performance of funds under the "Growth Fund" category (one of the three Core Categories under PRS).

What are the Core Categories under PRS?

Here's a screenshot taken from PRS site indicating what are the core categories, the recommended age as well as the permitted asset allocation for for each category.

PRS Core Funds

Growth Fund Category : Selecting Top 10 Performing Funds according to 2015 Total Returns (%)

I've decided to utilize the Total Returns (%) for 2015 to select the ten (10) top performing funds from the Growth Category. These ten funds would then be used for my review.

Growth Fund Category - Top 10 PRS funds ranked according to Total Returns (%) in 2015:-

Growth Fund - Top 10 Performing PRS Funds according to 2015 Total Returns

Annual Returns for 2013, 2014, 2015 and 2016 (as of 29 Feb 2016)

Now that I have selected the 10 Growth Funds for review, let us take a look at performance of each fund in terms of annual return for 2013, 2014, 2015 and 2016 (as of 29 Feb 2016).

Growth Fund - Annual Returns for 2013, 2014, 2015 and 2016 (as of 29 Feb 2016)

• The green boxes indicate annual returns that have outperformed the dividend returns of EPF for a particular year. 
• The returns in bold indicate the highest return among the ten funds for a particular year
• N/A : fund was not launched yet or fund did not go through a full one year term

Observation

Despite the fact that all ten funds are under the same category, the gap in term of annual returns between funds vary quite a bit. Just take 2015 as a sample whereby the number one ranked fund is 11% higher as compared to the 10th ranked fund. Why such a large disparity? This can be explained by looking at the asset allocation of each PRS fund. 

Unraveling the Top Performing Core Growth Funds

As mentioned above, the best way to find out the outstanding or poor performance of a PRS fund is through its asset allocation. By knowing where money is being invested, we can then have a rough gauge of the investing strategy employed by a particular PRS fund.

1) Kenanga OnePRS Growth Fund

Asset Allocation:

Taken from Kenanga OnePRS Growth Fund Factsheet February 2016

Characteristics of this fund:

The fund is invested into Unit Trust Funds from the parent company. The general term for such investment is called "Collective Investment Scheme".

98% of the asset allocation of this PRS is invested into two unit trust funds:

• 69.15% - Kenanga Growth Fund : A top performing Equity Malaysia unit trust fund, Multiple Lipper Awards winner and rated 5 out of 5 Star by Morningstar)
• 28.86% - Kenanga Bond Fund : A very low risk fund under Category Bonds-Malaysia. Rated only 2 out of 5 Star by Morningstar

2015 Returns of Collective Investment Schemes under this PRS fund

• Kenanga OnePRS Growth returned 20.91% 
• Kenanga Bond Fund returned 2.45%.

Investors risk exposure when investing into this fund:

• Equity/Stocks in Malaysia via Unit Trust fund
• Bonds in Malaysia via Unit Trust fund

2) AmPRS - Growth Fund

Asset Allocation:

Taken from AmPRS-Growth Fund Factsheet February 2016

Characteristics of this fund:

This PRS fund contains a mixture of Collective Investment Scheme and direct equity (stocks) holdings.

The breakdown of asset allocation for this fund are as listed below:

• 31.09% - AmConservative Fund : A low risk balanced unit trust fund under Category Blended-Conservative funds. Rated 4 out of 5 Stars by Morningstar. 
• 3.93% - AmMalaysia Equity Fund : A high risk unit trust fund under Category Equity Malaysia - Large Cap funds. Rated 4 out of 5 Stars by Morningstar.
• 54.6% - Direct investment into equities (stocks) from different countries and sectors
• 10.38% - Cash and others

2015 Returns of Collective Investment Schemes under this PRS fund

• AmConservative Fund returned 5.48%
• AmMalaysia Equity Fund returned 12.26%

Investors risk exposure when investing into this fund:

• Direct equity (local and overseas)
• Equity and bonds via Unit Trust fund
• REITs
• Fixed Income instruments

The securities that the AmPRS-Growth Fund invests in will be traded and/or listed in the following countries, includes but not limited to Australia, Hong Kong, Malaysia, New Zealand, Singapore, South Korea, Taiwan and Thailand. For AmPRS-Growth Fund, foreign investments (if any) will be limited to 50% of the Fund's asset allocation.

3) Public Mutual PRS Islamic Growth Fund

Unable to locate and download factsheet from Public Mutual PRS site. No review will be done unless someone can provide me with the fund factsheet for this PRS fund.

4) CIMB Islamic PRS Plus Growth Fund

Asset Allocation:

Taken from CIMB Islamic PRS Plus Growth Fund Factsheet January 2016

Characteristics of this fund:

This PRS fund contains only Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 39.12% - CIMB Islamic Asia Pacific Equity Fund : A very high risk unit trust fund under the Category Equity-Asia Pacific ex-Japan (Syariah) funds. Rated only 3 out of 5 Stars by Morningstar.
• 29.30% - CIMB Islamic Equity Fund : Could not find information of this fund
• 15.02% - CIMB Islamic Sukuk Fund : A low risk unit trust fund under Category Bonds - Malaysia (Syariah). Rated only 3 out of 5 Stars by Morningstar
• 14.94% - CIMB Islamic Enchanced Sukuk Fund : A low risk unit trust fund under Category Blended - Conservative Category. Rated 2 out of 5 Stars by Morningstar.

2015 Returns of Collective Investment Schemes under this PRS fund

• CIMB Islamic Asia Pacific Equity Fund returned 14.87%
• CIMB Islamic Sukuk Fund returned 3.53%
• CIMB Islamic Enhanced Sukuk Fund returned 3.98%

Future Performance of this PRS fund

There is no active management for this particular PRS fund. Future performance of this PRS fund would be dependent on the performance of all the unit trust funds listed above.

Investors risk exposure when investing into this fund:

• Syariah compliant equity/stocks in Malaysia and Asia Pacific via Unit Trust fund
• Sukuks or Islamic Bonds in Malaysia via Unit Trust fund

5) Manulife Shariah PRS - Growth Fund

Asset Allocation:

Taken from Manulife Syariah PRS - Growth Fund Factsheet February 2016

Characteristics of this fund:

This PRS fund contains only Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 39.71% - Manulife Shariah-Dana Ekuiti : A high risk unit trust fund under Category Equity - Malaysia Mid/Small-cap (Syariah). Not rated yet by Morningstar.
• 24.80% - Manulife Investment As-Saad : A low risk unit trust fund under Category Bonds - Malaysia (Syariah). Rated only 3 out of 5 Stars by Morningstar
• 14.93% - Manulife Investment Al-Ma'Mun : A very low risk unit trust fund under Category Money Market - Malaysia (Syariah). Rated only 3 out of 5 Stars by Morningstar
• 10.04% - Manulife Investment Al-Faid : A high risk unit trust fund under Category Equity - Malaysia Mid/Small-cap (Syariah). Rated 4 out of 5 Stars by Morningstar.
• 9.97% - Manulife Investment Al-Fauzan : A high risk unit trust fund Category Equity - Malaysia Income Category. Rated 5 out 5 Stars by Morningstar.

2015 Returns of Collective Investment Schemes under this PRS fund

• Manulife Shariah-Dana Ekuiti returned 15.48%
• Manulife Investment As-Saad returned 2.87%
• Manulife Investment Al-Ma'Mun returned 3.34%
• Manulife Investment Al-Faid returned 9.02%
• Manulife Investment Al-Fauzan returned 9.82%

Investors risk exposure when investing into this fund:

• Syariah equities/stocks in Malaysia via Unit Trust fund
• Sukuk (Islamic Bond) in Malaysia via Unit Trust fund
• Low risk Money Market

6) AIA PAM-Growth Fund

Asset Allocation:

Taken from AIA PAM-Growth Fund Factsheet January 2016

Characteristics of this fund:

This PRS fund contains direct holdings of local equities, foreign equities, bonds as well as Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 15.60% - iShares MSCI Asia ex-Japan ETF : Could not find exact fund name. Instead found iShares MSCI Pacific ex Japan ETF which is a high risk ETF invested into equities from Australia, Hong Kong, New Zealand and Singapore. 
• 13.32% - Investec GS Asian Equity : An overseas unit trust fund under the Category Asia ex Japan Equity. Rated 3 out of 5 Stars by Morningstar UK.
• 68.32% - Direct investments into local & foreign equities as well as fixed income instruments
• 2.76% - Cash

2015 Returns of Collective Investment Schemes under this PRS fund

• iShares MSCI Asia ex-Japan ETF returned -8.88%
• Investec GS Asian Equity returned -5.44

Investors risk exposure when investing into this fund:

• Overseas equities/stocks via ETF and Unit Trust fund
• Direct equity (local and foreign)
• Fixed Income instruments such as bonds

7) RHB Retirement Series - Growth Fund

Asset Allocation:

Taken from RHB Retirement Series - Growth Fund Factsheet February 2016

Characteristics of this fund:

This PRS fund contains only Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 67.70% - RHB Goldenlife 2030 : A medium risk unit trust fund with exposure to Malaysia equities and fixed income instruments. Not rated yet by Morningstar.
• 22.11% - RHB Goldenlife Today : A low risk balanced unit trust fund under Category Blended-Conservative funds. Rated 4 out of 5 Stars by Morningstar.

2015 Returns of Collective Investment Schemes under this PRS fund

• RHB Goldenlife 2030 returned 9.30%
• RHB Goldenlife Today returned 6.47%

Investors risk exposure when investing into this fund:

• Local equities/stocks via Unit Trust funds
• Fixed Income instruments such as bonds via Unit Trust funds

8) Manulife PRS-Growth Fund

Asset Allocation:

Taken from Manulife PRS-Growth Fund Factsheet February 2016

Characteristics of this fund:

This PRS fund contains only Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 39.50% - Manulife Equity Plus Fund : A high risk unit trust fund under Category Equity - Malaysia Large-cap funds. Rated 4 out of 5 Stars by Morningstar.
• 20.01% - Manulife Bond Plus Fund : A low risk unit trust fund under Category Bonds -Malaysia funds. Rated only 3 out of 5 Stars by Morningstar.
• 15.05% - Manulife Investment Al-Ma'Mun : A very low risk unit trust fund under Category Money Market - Malaysia (Syariah). Rated only 3 out of 5 Stars by Morningstar
• 9.90% - Manulife Shariah-Dana Ekuiti : A high risk unit trust fund under Category Equity - Malaysia Mid/Small-cap (Syariah). Not rated yet by Morningstar.
• 9.89% - Manulife Investment Value Fund : A high risk unit trust fund under Category Equity - Malaysia Mid/Small-cap funds. Rated 4 out of 5 Stars by Morningstar
• 4.83% - Manulife Investment Bond Fund : A low risk unit trust fund under Category Bonds -Malaysia funds. Rated only 3 out of 5 Stars by Morningstar.
• 0.82% - Cash

2015 Returns of Collective Investment Schemes under this PRS fund

• Manulife Equity Plus Fund returned 4.91%
• Manulife Bond Plus Fund returned 5.90%
• Manulife Investment Al-Ma'Mun returned 3.34%
• Manulife Shariah-Dana Ekuiti returned 15.48%
• Manulife Investment Value Fund returned 14.89%
• Manulife Investment Bond Fund returned 3.30%

Investors risk exposure when investing into this fund:

• Local equities/stocks via Unit Trust funds
• Fixed Income instruments such as bonds via Unit Trust funds

9) CIMB-Principal PRS Plus Growth Fund

Asset Allocation:

Taken from CIMB-Princiap PRS Plus Growth Fund Factsheet January 2016

Characteristics of this fund:

This PRS fund contains only Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 38.65% - CIMB-Principal Asian Equity Fund : A very high risk unit trust fund under Category Equity - Asia Pacific ex-Japan funds. Rated 4 out of 5 Stars by Morningstar.
• 29.20% - CIMB-Principal Asia Pacific Dynamic Income Fund : A low risk unit trust fund under Category Bonds -Malaysia funds. Rated 5 out of 5 Stars by Morningstar.
• 28.19% - CIMB-Principal Bond Fund : A low risk unit trust fund under Category Bonds -Malaysia funds. Rated only 3 out of 5 Stars by Morningstar.
• 3.96% - Cash

2015 Returns of Collective Investment Schemes under this PRS fund

• CIMB-Principal Asian Equity Fund returned 9.46%
• CIMB-Principal Asia Pacific Dynamic Income Fund returned 8.91%
• CIMB-Principal Bond Fund returned 3.12%

Investors risk exposure when investing into this fund:

• Local and overseas equities/stocks via Unit Trust funds
• Fixed Income instruments such as bonds via Unit Trust funds

10) Affin Hwang PRS Growth Fund

Asset Allocation:

Taken from Affin Hwang PRS Growth Fund Factsheet January 2016

Characteristics of this fund:

This PRS fund contains a large percentage of Collective Investment Schemes.

The breakdown of asset allocation for this fund are as listed below:

• 26.4% - Affin Hwang Select Bond Fund : A low risk unit trust fund under Category Bonds - Asia funds. Not rated yet by Morningstar.
• 14.9% - Affin Hwang Select Asia (ex Japan) Quantum Fund :  A very high risk unit trust fund under Category Equity - Asia Pacific ex-Japan funds. Rated 5 out of 5 Stars by Morningstar.
• 14.3% - Affin Hwang Select Asia (ex Japan) Opportunity Fund : A very high risk unit trust fund under Category Equity - Asia Pacific ex-Japan funds. Rated only 3 out of 5 Stars by Morningstar.
• 14.2% - Affin Hwang Global Equity Fund : A wholesale feeder fund with 70% NAV invested into a target fund called Nikko AM Shenton Global Opportunities Fund. Remaining 30% is invested money market instruments.
• 9.6% - Affin Hwang Select Opportunity Fund : A high risk unit trust fund under Category Equity - Malaysia Large-cap funds. Rated 4 out of 5 Stars by Morningstar.
• 20.6% - Mixture of Cash, Money Market Instruments and Fixed Income Instruments

2015 Returns of Collective Investment Schemes under this PRS fund

• Affin Hwang Select Bond Fund returned 7.28%
• Affin Hwang Select Asia (ex Japan) Quantum Fund returned 9.40%
• Affin Hwang Select Asia (ex Japan) Opportunity Fund returned 10.30%
• Affin Hwang Global Equity Fund (this is a wholesale feeder fund where the target fund has returned 10.09% as of YTD 31 Oct 2015)
• Affin Hwang Select Opportunity Fund returned 2.03%

Investors risk exposure when investing into this fund:

• Local and overseas equities/stocks via Unit Trust funds and Wholesale feeder fund
• Local and overseas fixed income instruments such as bonds via Unit Trust funds
• Money market

SUMMARY
PRS funds with Local and Overseas Equity exposure

PRS funds containing Lipper Award Winning fund and 5 Star Morningstar rated fund

Conclusion
Based on the ample amount of information and data provided for each PRS fund, I believe you should now be able to decide which Core Growth PRS fund is suitable for you, if you intend to invest into PRS.

For those whom are not yet familiar with PRS, do check out my older postings below:

1. Private Retirement Scheme (PRS), What's In Store For Investors? - Part 1
2. Private Retirement Scheme (PRS), What Is The Expected Performance? - Part 2
3. Private Retirement Scheme (PRS), Enjoying The Benefits of Tax Relief - Part 3

That's all for this post! Do follow Invest Made Easy for upcoming reviews of other PRS categories.

Cheers and Happy Investing!

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