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34q234q

August 2016

Phillip Funds Focus A MONTHLY NEWSLETTER EXCLUSIVELY FOR

INVESTMENT PROFESSIONALS

US economy grew a slower than expected pace in Q2. The economy grew at an

annual rate of 1.2% whilst the growth for Q1 was revised down from 1.1% to 0.8%. Despite consumer spending surged at annual pace of 4.2%; strongest since late 2014, business investment which include stock, supplies, equipment and buildings slipped 9.7%, with investment in the business inventories falling by USD8.1bil in between April and June. This dampened investors’ confidence for September rate hike and following Fed’s cautious approach during last rate hike.

Bank of Japan (BOJ) missed investors’ expectations of expanded stimulus. BOJ announced a modest dose of monetary stimulus on 29July 2016. BOJ’s cautious move in some way confirmed economists suspicion that the BOJ has run up against the limits of monetary policy to support growth. Monetary base expansion was kept at JPY80trillion with ETF purchases raised to JPY6trillion from JPY3.3trillion previously and doubling the foreign-currency funding support to businesses and financial institutions. ETF purchases effectively limits the blow to equity markets. However, BOJ decision not to expand asset purchases raises some questions on how Prime Minister Shinzo Abe plans to fund his JPY28trillion fiscal stimulus.

China’s official nonmanufacturing PMI and Caixin Service PMI both signalled healthy

expansion in the service sector, climbing to 53.9 and 51.7 respectively. The expansion was contributed by the rise in total new business whilst payrolls expanded slightly. The trend of outperforming services remain clear with China manufacturing PMI results particularly weak , down from 50.0 to 49.9 in July whilst the Caixin manufacturing PMI, which gauge on smaller and medium-sized companies jumped to 50.6 in July from 48.6 in June. The improvement on Caixin was broad-based across sub-components with the largest increases seen in output and new orders. In response to improved total new work, manufacturers raised their production for the first time in four months.

Most of ASEAN bourses continued its advancement in July, led by the Stock

Exchange of Thailand (SET) which jumped 5.5%, followed by Jakarta Composite Index (JCI) which surged 4.0% in July. Philippines Composite Index (PCOMP) and Straits Times Index (STI) extended their gains, recording 2.1% and 1.0% gains respectively in July whilst FTSE Bursa Malaysia KLCI (FBMKLCI) inched down in July, recording 0.1% loss in July.

Moving forward, emerging market would still remain in the limelight with pocket of

rooms available to grow. We are positive on Thailand, Indonesia and Philippines and we are also seeing upside on China market. To reflect our optimism, we are increasing our exposure to China via CIMB Principal Greater China equity fund.

A Brief Synopsis Where to Look Out For… Page

…Window to the World 2

…A Peep into Malaysia 2

…Lighting Up Your Path 3

…Walking With You 3

…PMB Model Portfolio 4

…Tracking Our Recommendations 5

…From the Scoreboard 6-11

…Appendix 12-13

B-3-6, Block B, Level 3 Unit 6 Megan Avenue II 12 Jalan Yap Kwan Seng 50450 Kuala Lumpur Malaysia Contact No: 603 – 2783 0300 E-mail: pcm@poems.com.my

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US: Employers hiring rapidly – US nonfarm payrolls increased by a

seasonally adjusted 255,000 in July whilst the unemployment rate

was unchanged at 4.9%. The job addition beat the street expectation

at 179,000 jobs for the month. The main contributor to the rapid

employment was the manufacturing sector which employed an

additional of 9,000 jobs for the month and also construction payrolls

which added 14,000 jobs following three consecutive months of

declines. The robust hiring is supportive of the view that the Fed could

raise its benchmark interest rate before the year-end.

Bank of England (BOE) expands stimulus – BOE reduced its

benchmark interest rate by 25bps to 0.25%, the lowest in the bank’s

322 years history. The rate had been at 0.5% since March 2009. The

bank also said that they could cut rates further this year, but ruled out

the possibility of negative interest rates. Other than cutting interest

rate, the bank would also introduce a series of additional measures to

support the economy which include increasing the size of a bond-

buying program by GBP60bil, increasing the assets under program to

the total of GBP435bil.

China’s Caixin Manufacturing PMI rebound - China’s key private-

sector gauge of the health of manufacturing sector rose for the first

time in 17 month, crossing the 50-level threshold that separates

contraction from expansion to rise to 50.6 in July from 48.6 in the

prior month. This reading exceeded street expectation at 48.7. This

was highly contributed by the growth of factory output at 6.2% Y-o-Y

while retail sales jumped 10.6%. This indicates that the Chinese

economy has begun to show signs of stabilizing due to the gradual

implementation of fiscal policy.

Window to the World

A Peep into Malaysia

Source: Bloomberg Note: Percentage changes are in local currencies

FBMKLCI took a dip in July– FBMKLCI slipped 0.1% in July

after a gain of 1.7% in the previous month. The index closed at

1653.3 from 1654.1 in June. Foreign investors turned net

buyers for the month, buying RM1.1bil worth of stocks,

reversing its net seller position for the year to RM959mil. Local

institution and local retailer turned net sellers, disposing

RM890mil and RM118mil worth of stocks respectively.

Ringgit closed weaker – Ringgit declined marginally by 0.9%

in July to close at RM4.07 against US Dollar compared to

RM4.03 in the previous month. The weakening of Ringgit was

mainly due to the crude oil price sank 13.9% in July and also

the political issue surrounding the nation. It damages the

sentiment on the Malaysian market which dragged the

performance against the neighboring ASEAN markets namely

Indonesia, Philippines and Indonesia.

Malaysia's 2Q16 GDP grew slower – Malaysian GDP number

was in line with market expectations, slowed down to 4% in

April-June quarter from 4.2% in the preceding quarter. During

the quarter, domestic demand grew 6.3% compared with 3.6%

in the prior quarter, however it was negated by continuous

decline in export which came in at 7% compared with 12.4%

previously. Central Bank Governor is optimistic that the country

will be able to meet the Government's full year growth target of

4% to 4.5% for 2016.

Source: Bloomberg

M-o-M

(%)

YTD (%)

China

1.7%

-15.8%

Hong Kong

5.3% -0.1%

Japan

6.4% 12.9%

Malaysia

-0.1% -2.3%

South Korea

2.3% 2.8%

US 2.8% 5.8%

Markets Performance

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BoE cuts interest rate, China’s economic data sustaining, Government policies to benefit ASEAN emerging markets Massive redemption from risky assets back to developed markets is unlikely with the interest rate cut by the Bank of England and the delay in interest rate hikes by US Federal Reserve. We reckon the European markets are stabilising post-Brexit however we remain cautious as implementation of “Brexit” remain vague. Britain could go into recession next year as initial data is already indicating weaker economic growth. We are cautiously optimistic on China as the data have largely remained at expansionary mode despite the government slowly transforming the economy from heavy industries towards consumer driven and services economy. We are positive on Asean markets namely Indonesia, Philippines and Thailand given their stable economic and political situation. We are of the view that the government infrastructure and consumer driven theme remain valid. However these markets remain stock selective markets as the valuation are already at premium due to massive foreign fund flows. We are neutral on Malaysia equity market as corporate earnings remain lacklustre. We are off the view that the markets performance would still be tepid therefore we maintain our portfolio with exception to the addition of CIMB Principal Greater China Equity to reflect the change in our view on China’s equity market. Risk-aversed, investors could consider increasing cash holdings or investing into fixed income instruments.

Lighting Up Your Path

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Actual PMB Model Portfolio* Illustrative PMB Islamic Model Portfolio*

Asset Allocation Return Asset Allocation Return

May-16 Jun-16 Jul-16 Aug-16 Jul-16 May-16 Jun-16 Jul-16 Aug-16 Jul-16

Kenanga Growth 25% 25% 20% 13% 1.7% Affin Hwang Aiiman Growth

25% - - - 0.8%

Aberdeen Islamic World Equity

- - 4% 4% 3.4% Eastspring Investments Dana al-Ilham

25% 25% 25% 25% 0.9%

Affin Hwang Select Asia Quantum

15% 15% 15% 15% 4.7% Kenanga Syariah Growth

25% 25% 25% 25% 0.9%

Eastspring Investments My Focus

5% 5% 5% 5% 0.8% Eastspring Investments Islamic Income

25% 25% 25% 25% 0.3%

Eastspring Investments Equity Income

15% 15% 20% 20% 2.0% PMB Shariah Agressive

- 25% 25% 25% -0.5%

RHB-OSK-GS US Equity

5% 5% 5% 5% 5.0%

Phillip Master Money Market

15% 15% 15% 17% 0.3%

CIMB Principal Asia Pacific Dynamic Income

7% 7% 7% 7% 6.1%

Manulife India Equity 6% 6% 2% 2% 7.0%

CIMB Principal Greater China Equity

- - - 5% 7.1%

TA European 7% 7% 7% 7% 4.3%

Total: 100% 100% 100% 100% Total: 100% 100% 100% 100%

PMB Model Portfolio

Eastspring Investments Equity Income gained 2.0%

whilst Kenanga Growth rose 1.7%. Both funds

outperformed FBMKLCI Index which declined

marginally by 0.1%. The investors turned cautious

on Malaysian market due to uncertainty on the

political front surrounding the nation.

Affin Hwang Select Asia Quantum climbed 4.7%

from the massive foreign fund inflows into emerging

markets due to mixed economic signals in

developed markets. CIMB Principal Asia Pacific

Dynamic Income surged 6.1% for the month given

its top holdings strong performance for the month of

July namely India’s Housing Development Finance

Corp which jumped 11.3%, Australia’s Ramsay

Health Care escalated 9.8%, and Hong Kong’s

Power Asset Holdings advanced 6.9%.

Source: PCM

Eastspring Investments MY Focus increased marginally by 0.8%. One of the top holdings, Kerjaya Prospek surged

14.5% for the month on the back of winning construction job for Marriot development project in Malacca, with value

amounting to RM214mil. However, this was negated by the weaker performance of its top holdings, United U-Li

Corp which edged down 1.5% after a 21.1% jump in June.

The US exposure fund RHB-OSK-GS US Equity advanced 5.0% for the month, outperforming the Dow Jones Index

which gained 2.8% on the back of strong rallies of its top holdings especially in technology and information sector.

For Eurozone exposure, TA European Equity rose 4.3% suggesting the sign of market recovery post-Brexit.

Manulife India Equity also recorded a strong 7.0% gain for the month on the back of bankruptcy quote reform and

also the monsoon weather which aided the crops production thus spurred the consumer spending in July.

For the month of July, our PMB Model portfolio gained 3.1%, outperforming FBMKLCI which slipped 0.1% for the

month whilst PMB Islamic portfolio inched up 0.6% for the month.

Source: PCM

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Name % Growth

Name

% Growth

M-o-M YTD

M-o-M YTD

MALAYSIA CONVENTIONAL

ASIA

Equity

Equity

1 Eastspring Investments Small-Cap 1.7 3.8 18

Affin Hwang Select Asia (Ex Japan) Quantum

4.7 8.1

2 Kenanga Growth 1.7 -0.8 19 Affin Hwang Select Dividend 1.7 4.5

3 Eastspring Investments MY Focus 0.8 3.3

20 RHB China-India Dynamic Growth 6.4 -2.9

4 Eastspring Investments Equity Income 2.0 6.7

21 Affin Hwang Select Opportunity 2.7 5.8

22 CIMB-Principal Asia Pacific Dynamic Income

6.1 3.3

Mixed Assets

23 CIMB Principal Greater China Equity 7.1 -0.6

5 Affin Hwang Select Balanced 1.7 3.8

6 Affin Hwang Select Income 2.2 3.5

Mixed Assets

24 Eastspring Investments Asia Select Income

2.6 1.4

Fixed Income

7 AMB Income Trust 0.7 3.3 GLOBAL

8 AmBond 0.7 3.9 Equity

25 Eastspring Investments Global Basics MY

6.5 4.4

MALAYSIA (ISLAMIC)

26 Eastspring Investments Global Emerging Markets

5.9 2.8

Equity

27 AmGlobal Property Equities 7.0 7.0

9 PMB Shariah Premier 0.3 -4.8

28 Manulife India Equity 5.2 -6.5

10 PMB Shariah Aggressive -0.5 -8.4 29 TA European 4.3 -5.1

11 Affin Hwang AIIMAN Growth 0.8 -1.2

30 CIMB Global Titans 5.2 -6.5

12 Eastspring Investments Dana al-Ilham 0.9 -3.3

13 Kenanga Syariah Growth 0.9 -1.4 MONEY MARKET

14 CIMB Islamic Balanced Growth 0.5 -2.7

31 Phillip Master Money Market 0.3 2.2

15 Dana Makmur Pheim 1.0 -1.8

OTHERS

Fixed Income

32 AmPrecious Metals 6.4 79.7

16 AmBon Islam 1.0 4.0 33 Manulife Investment Asia Pacific REIT 5.3 14.6

Tracking our Recommendations

Due to the resignation of RHB Asset Management Chief Investment Officer (CIO), we temporarily exclude RHB Smart Treasure and RHB Smart Balanced from our recommended funds until we understand the investment strategy and philosophy of the new CIO. We reckon the RHB GS US in our model portfolio and RHB China-India Dynamic Growth in the recommended funds will not get affected as they are feeder funds.

In Asia Equity Category, funds with China exposure were in positive territory lead by newly added CIMB Principal

Greater China Equity which jumped 7.1% in July. We recently added this fund to our portfolio as we opine that the China economy has bottomed and is entering into recovery phase.

For the Fixed Income Category, we are of the view that investors may want to consider having exposure to fixed income funds as per our recommendations, in light of near to medium term volatility. Overall low yield environment in developed nations will benefit emerging market bonds massively as investors seek yield.

We included AmPrecious Metals to the recommendation list as a proxy to the safe haven asset as we reckon that the global economic environment is still vague given the situation in developed countries namely US and Europe. The fund surged 6.4% in the month of July and from the start of the year, the fund had performed well with 79.7% return.

With the prolonged low interest rate environment in developed countries i.e. Japan, Europe and England and also the

further delay in the Fed interest rate hike, we reckon investors will continue to hunt for yields, benefiting REIT funds. Therefore, we added Manulife Investments Asia Pacific REIT in our recommendations.

Note: Preferred * Shariah Compliant # Watch list

Source: Lipper

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Name

Launch

Date

6-MTH

(%)

RETURN

YTD

(%)

1-YR

(%)

3-YR

(%)

STD DEV

1-YR

(%)

RTN/

RISK

RANK

ABS

(1-YR)

RANK

RAR

(1-YR)

Malaysia, Equity-Growth

Affin Hwang Equity 29/4/1993 4.03 0.81 0.35 -4.82 10.19 0.08 16 16

Affin Hwang Growth 28/6/2011 3.96 0.62 0.04 -3.89 9.83 0.05 20 22

Affin Hwang Principled Growth 22/7/2009 4.17 0.68 -0.34 -4.81 10.36 0.02 24 25

E AMB Ethical Trust 7/1/2003 1.21 -0.71 -2.09 6.83 10.84 -0.14 29 29

AMB SmallCap Trust 3/3/2004 2.56 -0.7 0 8.77 14.08 0.07 22 19

E AMB Unit Trust 26/3/1992 4.26 2.5 4.31 9.29 10.12 0.47 6 3

E AMB Value Trust A MYR 7/1/2003 3.57 1.98 0.24 -0.62 9.21 0.07 18 18

E AmDividend Income 28/3/2005 -2.61 -4.7 -2.96 10.39 9.15 -0.29 31 32

E AmMalaysia Equity 15/10/2001 -1.76 -3.82 0.51 14.43 10.6 0.10 14 15

E AmTotal Return 10/1/1989 -1.07 -3.1 -4.32 -2.05 8.92 -0.45 34 33

Areca equityTrust 23/4/2007 3.96 1.38 2.03 28.98 14.41 0.21 10 10

E CIMB-Principal Equity 1/8/1995 1.43 -0.86 -0.43 7.42 8.26 -0.01 25 26

E CIMB-Principal Equity Aggressive 3 12/3/1998 2.88 0.25 0.69 1.6 11.51 0.11 13 13

E Eastspring Investments Equity Income 18/10/2004 6.81 6.74 8.32 26.74 8.68 0.96 1 1

E Eastspring Investments Growth 29/5/2001 -0.15 -4.15 -1.72 17.74 15.81 -0.03 28 27

E Eastspring Investments MY Focus 1/3/2011 6.54 3.25 5.56 54.1 14.25 0.45 4 4

KAF Tactical 2/9/2004 7.74 2.88 0.42 -19.37 15.06 0.10 15 14

E Kenanga Growth 17/1/2000 2.77 -0.84 2.52 44.58 11.8 0.27 9 9

E Kenanga Malaysian Inc 9/11/2007 5.37 2.2 6.27 27.61 12.38 0.55 3 2

Kenanga OA Inv-Kenanga Blue Chip 23/4/2004 2.29 1.42 -1.34 -0.28 8.35 -0.12 27 28

E Kenanga Premier 26/11/1996 2.83 1.27 0.03 6.6 11.98 0.06 21 21

E Libra DividendEXTRA 18/3/2005 10.15 3.82 2.91 15.67 12.02 0.30 8 8

E Libra EquityEXTRA 10/9/1999 6.03 2.62 -0.64 2.91 16.92 0.04 26 23

Maybank Q-Opportunities 4/7/2011 1.4 -0.09 0.25 -2.32 8.7 0.07 17 17

E MIDF Amanah Dynamic 5/5/1976 -5.24 -8.16 -3.97 19.97 15.73 -0.18 33 30

MIDF Amanah Growth 2/12/1966 -2.5 -4.75 -0.29 6.95 13.46 0.04 23 24

Phillip Master Equity Growth 18/6/2003 4.39 1.73 4.05 13.45 15.51 0.33 7 7

E RHB Capital 12/4/1995 3.38 -0.07 1.46 1.12 13.79 0.17 11 12

RHB KLCI Tracker 3/4/2000 -0.25 -1.83 -2.86 -2.82 9.61 -0.26 30 31

E RHB Malaysia Dividend 4/3/2008 5.24 0.36 4.58 8.34 14.87 0.37 5 6

E RHB Smart Treasure 7/9/2004 3.37 -0.66 6.55 42.89 22.65 0.39 2 5

E TA Comet 1/10/1999 1.94 -2.45 -3.85 8.39 7.85 -0.46 32 34

TA Growth 1/7/1996 2.94 -0.98 0.21 4.83 7.88 0.06 19 20

TA High Growth 7/6/2004 4.32 0.72 1.29 -1.75 9.05 0.18 12 11

AVERAGE 2.82 -0.08 0.82 10.20 11.88 0.10

Malaysia, Equity-Islamic Growth

Aberdeen Islamic Malaysia Equity A 17/1/2013 6 2.58 -0.14 5.1 8.1 0.02 17 18

Affin Hwang Aiiman Equity 1/8/2007 2.19 -0.6 -0.28 -0.85 9.92 0.02 19 19

E Affin Hwang Aiiman Growth 8/10/2002 1.49 -1.23 -0.16 8.13 10.06 0.03 18 17

AmanahRaya Islamic Equity 23/4/2008 -0.51 -4.43 0.4 5.61 11.43 0.09 11 12

E AMB Dana Ikhlas 17/9/2002 2.37 1.28 2.02 9.12 6.15 0.35 6 4

E AMB Dana Yakin 24/11/2000 0.75 -1.5 0.07 5.39 12.2 0.06 15 15

AMB Shariah Value Plus A-MYR 16/6/2015 2.96 -1.16 1.93 7.29 0.30 7 6

AMB Shariah Value Plus C-MYR 16/6/2015 3.01 -1.1 2.11 7.28 0.32

E AmIslamic Growth 10/9/2004 -1.21 -4.38 -0.47 9.37 9.65 0.00 21 23

E AmIttikal 12/1/1993 -0.2 -3.62 0.28 8.12 9.65 0.07 13 13

BIMB i Dividend 18/3/2011 -2.63 -7.5 -7.05 -11.74 13.4 -0.48 33 33

BIMB i Growth 30/6/1994 -5.37 -11 -15.42 -15.77 16.59 -0.92 35 35

E CIMB Islamic Al-Azzam Equity 1/8/2012 -2.86 -6.95 -2.21 8.44 10.92 -0.15 27 28

E CIMB Islamic Equity Aggressive 15/6/1995 3.34 -0.11 3.23 15.23 12.53 0.31 2 5

E Eastspring Investments Dana al-Ilham 14/8/2002 0.14 -3.34 0.98 30.11 11.06 0.14 8 8

E KAF Dana Adib 25/3/2004 -4.6 -10.03 -10.58 -3 13.07 -0.79 34 34

E Kenanga Islamic 15/8/2002 1.98 -0.69 -0.08 12.21 9.59 0.04 16 16

E Kenanga OA Inv-Kenanga Ekuiti Islam 23/4/2004 4.6 1.26 3.22 10.9 10.38 0.35 3 3

E Kenanga OA Inv-Kenanga Shariah Growth Opps

23/4/2004 3.54 -0.01 0.18 14.12 10.92 0.07 14 14

E Kenanga Syariah Growth 29/1/2002 2.23 -1.42 -0.43 13.16 10.18 0.00 20 21

From the Scoreboard

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7

Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

E Libra Amanah Saham Wanita 4/5/1998 2.92 0.99 -1.21 8.25 15.01 -0.01 24 24

Manulife Shariah-Dana Ekuiti 27/5/2013 3.36 1.89 7.75 28.44 11.87 0.69 1 1

E MIDF Amanah Islamic 14/5/1971 -3.45 -6.43 -0.63 17.13 13.81 0.02 23 20

Pacific Dana Dividen 26/7/2007 2.54 -2.72 -2.39 3.39 12.24 -0.14 28 26

PMB Dana Al-Aiman 19/5/1997 -4.26 -8.27 -2.83 -1.6 10.55 -0.22 30 31

PMB Dana Bestari 3/10/2002 -4.12 -8.23 -3.1 0.51 10.74 -0.24 32 32

PMB Dana Mutiara 5/8/2004 -3.88 -7.14 -0.59 -1.12 11.13 0.00 22 22

E PMB Shariah Aggressive 21/11/2005 -0.57 -8.41 0.86 36.58 18.36 0.13 9 9

PMB Shariah Dividend 21/7/2008 2.69 -2.8 0.67 16.76 13.8 0.11 10 10

E PMB Shariah Growth 28/12/1972 -3.42 -8.12 -2.97 16.77 16.34 -0.11 31 25

E PMB Shariah Index 25/3/2002 -3.23 -5.92 -2.1 0.96 10.32 -0.16 26 30

E PMB Shariah Premier 12/6/1995 -2.08 -4.77 3.12 11.14 9.58 0.36 4 2

PMB Shariah Small-Cap 16/5/2016

PMB Shariah Tactical 29/10/1979 -3.03 -5.82 -1.9 1.57 9.69 -0.15 25 27

E RHB Dana Islam 26/10/2001 -1.95 -3.97 0.38 11.47 14.34 0.09 12 11

RHB-OSK Islamic Growth 26/1/2004

TA Dana Fokus 17/6/2008 2.60 -1.86 -2.41 -8.31 11.58 -0.16 29 29

TA Islamic 24/4/2001 1.25 -4.57 2.2 3.55 8.86 0.29 5 7

AVERAGE 0.07 -3.61 -0.77 7.92 11.35 0.01

Malaysia Equity Small Cap E CIMB-Principal Small Cap 20/4/2004 -4.79 -11.67 -4.18 9.26 20.14 -0.12 6 6

E Eastspring Investments Small-cap 29/5/2001 6.52 3.77 9.31 78.32 15.69 0.64 2 1

E KAF Vision 1/3/2000 2.07 -5.03 0.77 44.29 16.38 0.12 4 4

E Kenanga OA Inv-Kenanga Growth Opportunities

23/4/2004 4.81 2.02 3.87 21.4 12.81 0.36 3 3

MIDF Amanah Strategic 1/6/1970 -3.59 -7.03 -2.47 18.63 20.82 -0.02 5 5

E RHB Small Cap Opportunity 20/4/1998 9.5 4.13 12.13 56.14 23.05 0.61 1 2

TA Small Cap 9/2/2004 6.16 -0.40 -7.16 -4.74 12.65 -0.53 7 7

AVERAGE 2.95 -2.03 1.75 31.90 17.36 0.15

Asia Equity Offshore

Affin Hwang China Growth 11/7/2011 7.72 -15.86 -13.93 19.95 25.86 -0.44 49 49

Affin Hwang Select APAC ex-Japan REITs and Infra

25/4/2007 12.16 5.63 9.6 33.32 10.7 0.91 12 9

Affin Hwang Select Asia (ex Japan) Opportunity

18/7/2006 12.15 4.38 7.2 16.45 10.51 0.71 18 16

Affin Hwang Select Asia (ex Japan) Quantum

15/4/2004 16.44 8.14 12.37 25.66 11.73 1.05 8 5

Affin Hwang Select Dividend 28/3/2011 6.69 4.47 6.1 19.69 7.02 0.88 23 12

E Affin Hwang Select Opportunity 7/9/2001 8.97 5.75 7.14 15.38 8.1 0.89 19 10

AmASEAN Equity 6/6/2011 7.73 3.63 6.92 17.46 9.27 0.77 20 14

AmAsia Pacific Equity Income 18/4/2012 21.95 7.74 7.38 30.19 19.04 0.46 17 24

AmAsia Pacific Leisure Dividend 25/2/2013 7.78 0.78 2.56 2.72 13.57 0.25 31 31

AmAsia Pacific REITs B MYR 18/7/2011 18.79 14.84 23.27 49.01 9.3 2.31 1 1

AmAsia Pacific REITs Plus 1/7/2013 16.54 8.64 18.61 39.98 11.89 1.50 6 3

AmAsia-Pacific Property Equities 18/7/2006 15.32 5.2 11.65 28.76 13.56 0.88 10 11

AmCumulative Growth 24/7/1996 10.05 -2.5 1.99 25.62 15.34 0.20 33 33

CIMB-Principal ASEAN Equity 12/9/2007 13.07 6.31 5.26 11.11 12.07 0.48 26 23

CIMB-Principal Asia Pacific Dynamic Income MYR

25/4/2011 13.76 3.34 5 43.27 14.82 0.40 28 28

CIMB-Principal China-India-Indonesia Equity

21/1/2010 11.46 1.84 7.42 44.75 14.69 0.56 16 22

E CIMB-Principal Equity Growth & Income 15/5/1991 4.23 -0.29 -0.05 16.44 8.09 0.03 39 40

CIMB-Principal Greater China Equity 12/6/2007 14.86 -0.59 4.14 55.28 19.02 0.30 30 30

E Eastspring Investments Asia Pacific Equity MY

21/7/2005 14.79 -0.24 -1.05 23.99 19.21 0.04 41 39

Eastspring Investments Dinasti Equity 26/10/2009 12.56 0.28 5.87 34.92 16.27 0.43 24 26

Eastspring Investments Indonesia Equity MY

27/4/2011 19.34 15.12 21.98 12.83 21.64 1.02 2 7

Kenanga Asean Tactical Total Return 1/7/2015 7.71 3.46 8.51 8.18 1.04 14 6

Kenanga Asia Pacific Total Return 11/7/2013 9.75 -1.07 1.21 33.6 13.67 0.15 35 35

Kenanga Global Opportunities 21/6/2010 3.92 -7.29 -4.98 -10.37 17.34 -0.21 44 43

Libra Consumer and Leisure Asia 18/7/2007 15.48 4.44 6.38 43.11 17.13 0.44 22 25

Manulife Asian Small Cap Equity MYR 8/4/2015 6.68 -4.46 -4.6 14.87 -0.25 43 45

Manulife China Equity 7/1/2010 5.91 -11.42 -9.38 31.8 19.82 -0.40 48 48

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Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

Manulife Equity Plus 29/12/2009 4.51 2.97 5.85 15.61 9.95 0.62 25 19

Manulife Global Resources 7/1/2010 31.97 19.54 20.04 -0.3 21.99 0.94 4 8

Manulife Investment Asia-Pacific REIT 7/6/2007 19.82 14.62 21.41 49.92 11.31 1.78 3 2

Manulife Investment Greater China 21/10/2008 11.21 -3.22 -2.4 27.21 17.93 -0.05 42 42

Manulife Investment Indonesia Equity 19/10/2010 14.94 13.1 14.37 -25.79 16.81 0.88 7 13

Manulife Investment Pacific 23/6/2005 14.55 2.6 10.9 32.34 17.35 0.68 11 17

Pacific Focus China 19/5/2009 10.9 -3.79 -5.61 26.17 17.16 -0.25 45 46

E Pheim Asia Ex-Japan 30/6/2006 4.94 -4.6 -0.8 13.78 14.96 0.02 40 41

RHB Asean 2/12/2009 16.87 7.56 9.46 15.47 15.64 0.65 13 18

RHB Asia Consumer 18/1/2010 9.23 -1.05 2.54 -4.44 14.13 0.24 32 32

RHB Asia Financials 11/1/2011 9.49 -6.32 -8.17 26.11 18.77 -0.36 47 47

E RHB Asia Pacific 6/1/2006 9.44 0.79 0.31 9.36 12.92 0.08 37 38

RHB Asian Growth Opportunities 8/1/2008 13.85 1.98 8.37 23.83 15.37 0.60 15 21

RHB Big Cap China Enterprise 3/12/2007 8.35 -8.89 -6.58 34.27 19.9 -0.24 46 44

RHB China-India Dynamic Growth 11/3/2010 13.09 -2.89 -0.03 66.86 19.69 0.09 38 37

E RHB Emerging Opportunity 18/5/2004 6.29 0.44 0.89 15.64 21.28 0.14 36 36

E RHB Equity 8/8/1996 5.65 0.6 4.31 -5.08 19.37 0.31 29 29

RHB Indonesia Equity Growth 4/4/2011 19.7 15.55 19.86 5.63 16.86 1.16 5 4

E RHB Resources 16/5/2006 11.49 4.7 1.74 -1.95 14.45 0.19 34 34

RHB Singapore Income Feeder MYR 18/1/2016 4.77

TA Asian Dividend Income 15/8/2007 13.13 1.52 5.25 26.76 14.95 0.41 27 27

E TA South East Asia Equity 28/11/2005 15.21 9.08 6.77 15.38 11.96 0.60 21 20

Templeton Asian Growth MYR A 21/9/2015 7.43 1.22

Templeton Asian Smaller Companies MYR A

7/10/2015 14.95 6.65

United ASEAN Discovery 8/12/2014 8.07 8.15 11.79 16.5 0.76 9 15

AVERAGE 11.84 2.76 5.45 22.43 15.14 0.48

Equity Offshores-Others

Affin Hwang European Unconstrained-MYRH

9/11/2015 -2.15 -4.68

Affin Hwang Global Commodity 20/8/2007

Affin Hwang Global Equity MYR 23/11/2015 6.85 -3.28

AmBRIC Equity 9/11/2009

AmCommodities Equity 19/7/2010 2.8 -7.79 -8.29 -14.6 18.39 -0.38 28 26

AmGlobal Agribusiness 3/5/2007 10.48 -5.17 -9.58 10.4 19.1 -0.43 30 28

AmGlobal Emerging Market Opportunities 18/3/2008 12.57 0.3 3.74 18.57 15.36 0.31 14 14

AmGlobal Property Equities 25/10/2005 16.77 7.01 20.66 52.57 14.25 1.39 3 3

AmPan European Property Equities 6/3/2007 5.11 -5.22 6.36 72.67 22.52 0.38 9 10

AmPrecious Metals 15/11/2007 87 79.73 90.82 12.04 43.39 1.71 2 2

AmSchroder European Equity Alpha 8/8/2006 3.67 -8.67 -5.54 23.51 19.04 -0.21 24 24

BIMB-Arabesque i Global Dividend 1 - MYR

5/11/2015 7.28 -2.44

CIMB-Principal Australian Equity 20/3/2010 17.39 2.54 5.02 12.63 18.76 0.35 12 13

CIMB-Principal Global Titans 18/7/2005 3.97 -6.47 -0.23 43.19 16.59 0.06 19 19

Eastspring Investments Global Basics MY

17/1/2007 16.83 4.41 8.3 22.54 16.42 0.56 8 7

Eastspring Investments Global Emerging Markets

11/1/2008 15.07 2.76 4.51 18.09 15.3 0.36 13 11

Eastspring Investments Global Leaders MY

23/3/2006 12.67 -2.66 3.09 30.31 21.32 0.24 16 17

Franklin U.S. Opportunities MYR 8/5/2013 7.96 -1.56 -7.82 29.39 17.03 -0.40 27 27

Global Dividend - MYR 11/4/2016

Global Dividend - USD 11/4/2016

Global Multi-Asset Income MYR 17/3/2014 6.89 4.8 2.32 6.86 0.37

KAF Global Diversified Property 9/8/2007

KAF Global Equities 19/5/2006

Kenanga Global Dividend 19/3/2007 8.03 -2.3 0.88 27.76 15.91 0.13 18 18

Manulife India Equity 7/1/2010 12.86 2.63 5.47 85.5 19.89 0.36 10 12

Manulife Investment Pacific 23/6/2005 14.55 2.6 10.9 32.34 17.35 0.68 5 5

Manulife Investment U.S. Equity 21/10/2009 6.63 -2 5.08 47.54 13.05 0.44 11 9

Pacific Asia Brands 20/1/2006 9.75 -3.92 -3.94 9.6 18.3 -0.13 22 23

Pacific Focus18 16/6/2005 2.68 -5.1 -9.08 1.74 15.63 -0.53 29 29

Pacific Glb Agriculture, Infra 12/4/2010 18.48 7.26 8.77 -0.29 16.86 0.58 6 6

- 9 -

9

Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

RHB Agriculture 11/8/2011 -2.8 -3.05 -6.65 -33.96 1.61 -4.25 25 32

RHB Global Equity Yield 9/11/2005 8.38 -9.17 -7.67 15.08 21.59 -0.26 26 25

RHB Global Food Islamic Equity 11/8/2011 14.83 11.03 14.63 21.24 10.37 1.37 4 4

RHB Global Macro Opportunities MYR 1/6/2016

RHB Global Macro Opportunities USD 1/6/2016

RHB Global New Stars 24/1/2007 3.89 -9.24 -12 -8.83 17.42 -0.65 31 31

RHB Global Themes 5/1/2007

RHB Gold And General 21/7/2009 93.13 87.07 104.27 43.9 44.57 1.83 1 1

RHB Private Equity Opportunity 1 28/7/2016

RHB US Focus Equity 15/10/2010 18.35 7.93 3.28 34.21 16.67 0.27 15 16

RHB-GS BRIC Equity 11/1/2011

RHB-GS US Equity 18/5/2011 10 -3.12 -4.24 16.9 20.17 -0.12 23 22

TA BRIC and Emerging Markets 25/2/2010 7.6 0.86 -0.6 13.45 11.24 0.00 20 20

TA European Equity 20/3/2007 2.19 -5.12 2.86 37.66 13.54 0.27 17 15

TA Global Technology 26/5/2011 7.27 -3.86 8.55 54.6 19.07 0.52 7 8

Templeton Global Equity MYR A 13/4/2015 6.15 -2.38 -12.24 18.35 -0.62 32 30

AVERAGE 13.25 3.26 6.65 24.06 17.90 0.12

Asia Equity Offshore Islamic

Aberdeen Islamic APAC ex Japan Equity A MYR

2/12/2015 16.51 5.33

Aberdeen Islamic World Equity A MYR 17/1/2013 13.52 3.97 3.66 30.83 13.39 0.33 4 4

Affin Hwang Aiiman Asia (ex Japan) Growth MYR

14/12/2015 6.07 6.32

AmIslamic Greater China 8/11/2010 3.41 -4.06 -8.02 -10.86 16.11 -0.44 9 9

E AmOasis Global Islamic Equity 21/4/2006 4.51 -5.21 -2.51 21.31 13.52 -0.12 8 7

E CIMB Islamic Asia Pacific Equity 2/6/2006 8.91 -0.74 4.36 34.16 12.63 0.40 3 3

Eastspring Investments Asia Pacific Shariah Equity

22/11/2007

Manulife Investment Asia-Pacific REIT 7/6/2007 19.82 14.62 21.41 49.92 11.31 1.78 1 1

Manulife Investment Shariah Asia-Pacific 16/1/2008 12.6 1.27 5.04 11.34 14.29 0.41 2 2

Namaa' Asia-Pacific Equity Growth 15/8/2008 2.77 -5.81 -2.2 3.09 11.69 -0.13 7 8

E Pheim Asia Ex-Japan Islamic 1/11/2006 3.83 -2.33 1.83 16.89 14.44 0.19 5 5

RHB Islamic Asean Megatrend B USD 26/4/2016

RHB Islamic Asean Megatrend MYR 26/4/2016

RHB Islamic Global Developed Markets MYR

28/5/2015 6.64 -4.28 0.21 14.14 0.08 6 6

RHB-OSK Asia Pacific Maqasid 23/2/2010

AVERAGE 8.96 0.83 2.64 19.59 13.50 0.28

Malaysia Mixed Assets

Affin Hwang Aiiman Select Income 1/3/2013 5.51 4.03 4.5 11.42 4.54 0.99 9 7

E Affin Hwang Select Balanced 28/7/2003 5.7 3.84 4.64 13.45 5.2 0.90 7 8

Affin Hwang Select Income 6/1/2005 5.89 3.53 6.61 22.56 4.47 1.46 4 2

Affin Hwang Select SGD Income MYR 1/8/2012 9.18 2.91 9.67 28.94 9.7 1.00 1 6

E Affin Hwang Tactical 10/8/2010 5.2 2.55 2.73 -0.22 9.32 0.33 19 21

E AMB Balanced Trust 19/9/1994 2.68 2.02 2.68 10.41 6.16 0.46 20 15

E AMB Index-Linked Trust 16/5/2002 -0.09 -1.82 -2.28 -0.94 8.71 -0.22 32 33

E AmBalanced 16/9/2003 -0.75 -1.71 -1.71 0.18 6.61 -0.23 31 34

E AmConservative 16/9/2003 2.52 2.42 4.42 13.31 4.17 1.06 12 5

E Eastspring Investments Balanced 29/5/2001 0.22 -2.75 0.15 29.72 13.1 0.07 27 26

E Eastspring Investments Dynamic 6/11/2003 1.04 -2.33 1.54 46 13.93 0.18 25 25

InterPac Cash 25/7/2007 1.56 1.83 3.16 8.69 0.04 72.24 16 1

InterPac Dynamic Equity 25/7/2007 0.22 0.38 4.02 -3.8 4.68 0.87 14 9

KAF Enhanced Bond 30/1/2002 0.73 4.27 4.43 16.4 4.04 1.09 11 4

E KAF First 16/1/1996 1.72 -0.09 4.5 21.19 7.93 0.59 10 13

KAF Jade 1/11/2006 8.28 -6.86 -3.12 8.01 19.51 -0.07 34 29

E Kenanga Balanced 23/5/2001 3.39 1.47 2.85 11.8 7.25 0.42 18 16

E Kenanga OA Inv-Kenanga Diversified 23/4/2004 4.98 1.79 3.07 8.32 9.97 0.35 17 20

E Kenanga OA Inv-Kenanga Managed Growth

23/4/2004 5.34 2.38 4.24 8.86 9.19 0.50 13 14

Libra Resource Equity 18/3/2011 7.95 -4.85 -5.17 16.36 -0.25 35 35

E Libra TacticalEXTRA 18/3/2005 4.65 2.15 -1.13 -1.08 13.74 -0.02 30 28

- 10 -

10

Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

Maybank Q-Target Return 4/7/2011 2.92 2.59 2.02 3.06 5.82 0.37 21 17

E Pacific SELECT Balance 11/8/2003 2.05 -0.43 -2.48 -2.3 10.04 -0.20 33 32

E Pacific SELECT Income 11/8/2003 0.82 0.38 -0.5 1.85 3.47 -0.13 29 31

E Pheim Emerging Companies Balanced 28/1/2002 2.86 -2.65 0.23 12.95 10.23 0.07 26 27

E Pheim Income 28/1/2002 0.87 -0.53 1.9 11.84 3.15 0.61 23 12

E RHB Goldenlife 2020 21/2/2005 0.47 -1.4 1.68 9.74 10.28 0.21 24 23

E RHB Goldenlife 2030 21/2/2005 3.31 -0.29 3.63 12.52 14.8 0.31 15 22

E RHB Goldenlife Today 21/2/2005 3.41 3.46 5.09 15.5 3.96 1.27 5 3

E RHB Growth And Income Focus 7/1/2005 6.97 1.52 4.78 32.22 15.84 0.37 6 18

E RHB Kidsave 10/5/1999 3.67 -0.88 1.97 7.7 14.68 0.20 22 24

E RHB Smart Balanced 7/9/2004 5.36 1.68 4.52 41.68 16.05 0.35 8 19

E RHB Smart Income 7/9/2004 4.4 3.06 6.63 29.48 9.31 0.74 3 10

E RHB Thematic Growth 26/9/2007 6.59 3.26 7.52 17.04 12.83 0.63 2 11

TA Income 6/5/2002 2.42 0.66 -0.46 1.62 4.71 -0.08 28 30

AVERAGE 3.49 0.73 2.47 13.18 8.97 2.47

Malaysia Mixed Assets-Islamic

Affin Hwang Aiiman Balanced 11/11/2001 3.26 1.8 2.17 1.94 7.44 0.32 8 6

E AmIslamic Balanced 10/9/2004 0.44 -0.6 1.28 11.96 6.72 0.22 10 10

BIMB Dana Al-Falah 27/12/2001

BIMB Dana Al-Munsif 27/12/2001 -1.93 -4.32 -9.39 -10.52 10.02 -0.93 16 16

E CIMB Islamic Balanced Growth 26/5/2003 -0.26 -2.73 0.15 9.37 6.72 0.05 13 13

E CIMB Islamic Enhanced Sukuk 23/2/2005 2.51 1.71 4.02 11.09 3.15 1.27 3 1

E Dana Makmur Pheim 28/1/2002 0.37 -1.83 4.38 23.31 9.39 0.50 1 5

E Eastspring Investments Dana al-Islah 14/8/2002 1.09 1.24 2.48 9.55 3.35 0.75 7 3

E Eastspring Investments Dana Dinamik 25/2/2004 2.2 -1.79 2.72 27.18 11.12 0.29 6 7

InterPac Dana Safi 25/7/2007 -0.1 -0.54 3.74 -2.31 4.27 0.88 4 2

E KAF Dana Alif 26/2/2003 -2.25 -5.86 -5.99 1.72 9.18 -0.63 15 15

E Kenanga Islamic Balanced 6/12/2004 1.59 -0.19 0.51 8.53 6.44 0.11 11 11

Kenanga OA Inv-Kenanga Shariah Balanced

23/4/2004 -1.31 -4.65 -9.71 -21.13 9.3 -1.05 17 17

E Libra SyariahEXTRA 1/1/2003 3.52 3.23 4.21 14.17 7.34 0.60 2 4

E PMB Shariah Balanced 8/12/1997 -1.88 -3.57 -1.3 7.6 6 -0.19 14 14

E RHB Dana Hazeem 18/2/2013 3.73 -0.79 3.14 22.85 17.07 0.26 5 9

RHB Mudharabah 9/5/1996 0.39 -1.4 0.24 -3.66 9.4 0.07 12 12

TA Dana Optimix 17/1/2005 1.15 -3.72 2.11 4.66 8.91 0.28 9 8

AVERAGE 0.74 -1.41 0.28 6.84 7.99 0.16

Mixed Assets Offshore

Affin Hwang Select AUD Income MYR 18/3/2010 8.49 1.78 14.81 24.44 11.03 1.31 1 2

AmAustralia 15/3/2011 12.39 1.24 9.24 24.8 14.96 0.66 3 5

Amundi International 3/9/2015 6.77 6.77

Amundi International - USD 3/5/2016

E Eastspring Investments Asia Select Income 18/11/2005 6.39 1.37 2.77 27.02 7.05 0.42 9 9

Eastspring Investments Enhanced Income 28/5/2007 5.29 2.24 3.26 15.31 4.86 0.68 8 4

E KAF Core Income 2/9/2004 8.83 7.4 6.66 8.48 14.01 0.53 5 7

Libra IncomeEXTRA 10/9/1999 8.95 4.36 5.14 8.97 0.6 6 6

Pacific Income 18/8/2000 1.88 1.15 0.17 2.97 5.55 0.06 11 11

Pacific Real Opportunities Absolute Return 21/4/2016

RHB Asian Income MYR 5/6/2012 13.22 7.86 14.4 40.41 9.88 1.41 2 1

RHB Golden Dragon 8/5/2007 6.32 -5.31 -5.89 22.11 14 -0.37 12 12

RHB-OSK Muhibbah Income 12/3/2007 E TA Asia Pacific Islamic Balanced 7/11/2006 7.23 -0.34 4.34 17.5 9.94 0.47 7 8

E TA Global Asset Allocator 12/6/2006 4.9 -3.94 1.96 20.68 13.24 0.21 10 10

Templeton Global Balanced MYR A 5/5/2015 5.83 -0.44 -9.58 14.13 -0.64 13 13

United Bond & Equity Strategic Trust 8/9/2014 4.89 3.79 7.99 9.03 0.89 4 3

AVERAGE 7.24 2.00 4.25 20.37 10.51 0.48

- 11 -

11

Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

Fixed Income

Affin Hwang Bond 12/12/2001 3.26 3.92 4.67 11.32 1.31 3.49 19 10

Affin Hwang Flexible Maturity Income IV 21/6/2016

Affin Hwang Select Bond 28/7/2003 5.53 4.95 8.04 23.7 2.46 3.17 10 11

E AmanahRaya Unit Trust 21/9/2006 -0.84 -0.29 0.29 7.22 3.68 0.1 33 33

E AMB Dana Arif A MYR 27/4/2004 2.88 3.38 4.28 15.5 1.01 4.15 24 5

E AMB Dividend Trust 6/6/2006 7 3.88 3.62 17 6.81 0.55 30 32

E AMB Enhanced Bond Trust 27/5/2003 2.53 2.42 3.2 12.87 3.14 1.02 32 30

E AMB Lifestyle Trust Today 25/11/2004 3.62 3.51 5.99 17.67 3.79 1.56 12 23

AmBond 20/1/2000 3.18 3.89 4.24 9.35 2.18 1.92 25 20

AmConstant Multi Maturity 18/11/2010

AmConstant Multi Maturity 2 17/10/2011 E AmDynamic Bond 16/9/2003 3.21 3.6 5.09 12.56 2.73 1.84 15 21

E AmIncome Plus 17/6/2004 2.03 2.36 3.73 10.31 0.42 8.74 28 1

AmTactical Bond B MYR 29/10/2012 5.2 5.18 11.21 18.54 4.07 2.64 6 18

Amundi Bond Global Aggregate MYR 3/9/2015 -0.2 -0.2

Amundi Bond Global Aggregate USD 3/6/2016

Areca incomeTrust 23/4/2007 2.42 2.87 3.71 10.51 0.82 4.48 29 4

E CIMB-Principal Bond 15/11/1995 2.84 3.41 4.03 11.25 1.27 3.13 26 12

E CIMB-Principal Strategic Bond 23/3/2004 3.46 4.29 4.54 10.21 1.55 2.89 21 15

E Eastspring Investments Bond 29/5/2001 2.89 3.4 4.99 21.28 1.18 4.15 17 6

Eastspring Investments Bond Plus 1/4/2013 3.22 3.39 4.92 13.51 1.17 4.12 18 7

Franklin Malaysia Sukuk A MYR 18/11/2015 1.78 2.36

Franklin Malaysia Sukuk I MYR 18/11/2015 3.06 3.69

KAF Bond 1/11/2006 3.9 4.8 5.93 17 1.61 3.59 13 9

Kenanga Bond 15/8/2002 2.59 3.11 3.35 7.55 1.07 3.08 31 13

Kenanga Global Emerging Markets Debt 22/7/2008

Kenanga OA Inv-Kenanga Income Plus 23/4/2004 2.74 3.37 3.76 9.31 1.22 3.05 27 14

E Libra BondEXTRA 8/10/2002 3.54 5.76 7.77 18.49 2.06 3.65 11 8

Libra Strategic Opportunity 1/11/2012 -64.93 -73.63 -64.61 -59.41 111.14 -0.45 37 35

Manulife Bond Plus 29/12/2009 2.58 2.58 5.05 13.81 1.08 4.58 16 2

Maybank Financial Institutions Income 17/12/2009 2.81 3.26 4.34 11.79 0.94 4.52 23 3

Maybank Global Bond 4/11/2013 0.85 -3.99 -0.29 7.4 0 34 34

Maybank Q-Income 4/7/2011 0.14 0.16 5.78 10.92 5.26 1.09 14 29

Opus Dynamic Income 3/6/2009 3.72 4.7 4.67 14.87 2.06 2.23 20 19

RHB Asian High Yield-MYR 8/6/2015 12.46 10.38 9.03 7.65 1.17 9 27

E RHB Asian Total Return 26/2/2007 5.36 2.06 14.65 43.64 12.76 1.14 3 28

RHB Emerging Markets Bond 3/1/2012 10.42 6.04 14.94 41.64 12.1 1.21 1 26

RHB Energy 23/3/2009 12.02 12.05 10.4 -12.72 13.4 0.8 8 31

E RHB Income 1 18/4/2001 E RHB Income 2 26/2/2003 2.81 3.9 4.52 13.81 2.5 1.78 22 22

TA All-Cycle Commodities Income 4/5/2009 5.19 6.44 11.62 20.86 3.96 2.81 5 16

TA Total Return Fixed Income 1/10/2012 7.12 3.42 11.75 25.78 9.08 1.27 4 24

Templeton Asian Bond MYR 5/2/2013 -0.88 -1.25 -7.33 -6.37 8.67 -0.83 36 37

Templeton Global Total Return MYR 14/11/2012 -0.76 -2.54 -6.2 -3.33 8.94 -0.67 35 36

United Asian High Yield MYR 30/6/2015 8.92 4.75 14.83 11.52 1.26 2 25

United Income Plus 9/2/2015 4.22 3.56 10.49 3.61 2.80 7 17

United RMB Income & Growth MYR 28/11/2013

United Target Income Bond 7 18/7/2016

AVERAGE 2.05 1.47 3.81 11.83 7.18 2.33

Fixed Income Islamic

Affin Hwang Aiiman Global Sukuk MYR 14/12/2015

(0.57)

(2.02)

E Affin Hwang Aiiman Income Plus 28/6/2004 3.61 4.34 4.88 11.97 1.57 3.04 5 8

E AmanahRaya Syariah Trust 21/9/2006 3.42 4.01 4.39 11.21 1.43 3.01 8 9

E AMB Income Trust 19/6/1996 2.96 3.32 4.78 28.57 1.11 4.21 6 4

E AmBon Islam 26/11/2001 3.25 4.02 4.12 12.29 2.08 1.96 9 13

AmDynamic Sukuk A 12/6/2012 3.69 4.55 5.01 14.25 2.3 2.14 4 12

BIMB Dana Al-Fakhim 13/9/2012 1.67 1.95 3.29 9.35 0.08 43.07 14 1

E CIMB Islamic Enhanced Sukuk 23/2/2005 2.51 1.71 4.02 11.09 3.15 1.27 11 15

Eastspring Investments Dana Wafi 21/2/2005 2.78 3.32 3.89 10.59 1.09 3.52 13 6

- 12 -

12

Name

Launch Date

6-MTH (%)

RETURN YTD (%)

1-YR (%)

3-YR (%)

STD DEV 1-YR

(%)

RTN/ RISK

RANK ABS

(1-YR)

RANK RAR

(1-YR)

Kenanga OA Inv-Kenanga Bon Islam 23/4/2004 1.89 2.42 2.02 5.41 1.33 1.51 15 14

E Libra ASnitaBOND 18/3/2005 3.94 5.05 6.8 17.03 1.27 5.19 1 3

Libra Dana Safa 1/12/2009 2.19 2.59 4.11 12.13 0.22 18.69 10 2

Manulife Shariah-Dana Sukuk 27/5/2013 3.16 4.16 4.51 11.04 1.71 2.59 7 11

Opus Shariah Income 18/9/2013 4.27 5.11 5.61 1.68 3.26 3 7

Pacific Dana Murni 25/3/2003 2.76 3.28 3.92 10.75 1.04 3.72 12 5

E RHB Islamic Bond 25/8/2000 3.77 4.73 6.32 19.35 2.09 2.95 2 10

AVERAGE 2.83 3.28 4.51 13.22 1.48 6.68

DISCLAIMER:

This publication is solely for information only. It should not be construed as an offer or solicitation for the subscription, purchase or sale of the securities mentioned herein. The publication has been prepared by Phillip Capital Management Sdn Bhd on the basis of publicly available information, internally developed data and other sources believed to be reliable. Whilst we have taken all reasonable care to ensure that the information contained in this publication is accurate and the opinions are fair and reasonable, it does not guarantee the accuracy or completeness of this publication. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of any person or group of persons acting on such information and advice. This publication was prepared without regard to your specific investment objectives, financial situation or particular needs. Whilst views and advice given are in good faith, you should not regard the publication as a substitute for the exercise of your own judgement and should seek other professional advice for your specific investment needs or financial situations.

For Phillip Capital Management Sdn Bhd ____________________________ Nona Salleh Executive Chairperson

The Mechanism

1) Superior ranking based on risk-adjusted-return.

2) Commendable ranking based on absolute return.

3) Fund size (minimum RM25 million)

4) Check on short-term return (1-month or 3-month returns)

5) Check top holdings and sectors allocation

6) Qualitative evaluations (if needed)

The Mechanism

1) Superior ranking based on risk-adjusted-return.

2) Commendable ranking based on absolute return.

3) Fund size (minimum RM25 million)

4) Check on short-term return (1-month or 3-month returns)

5) Check top holdings and sectors allocation

6) Qualitative evaluations (if needed)

Note: ABS denotes ranking based on absolute return RAR denotes ranking based on risk-adjusted return - YTD is from 31/12/2015 to 31/07/2016.

- 1 and 3 year returns are based on rolling returns. ‘E’ EPF approved

- 13 -

13

Date KLCI m-o-m %

Change PMB Portfolio

m-o-m %

Change

PMB Islamic

Portfolio

m-o-m %

Change

July-16 1653.26 -0.1 230.4 +3.1 178.6 +0.6

June-16 1654.08 1.7 223.5 -0.6 177.5 +0.1

May-16 1626.0 -2.8 224.8 +2.1 177.2 -0.2

Apr-16 1672.72 -2.6 220.2 -0.0 177.5 -1.4

Mar-16 1717.6 +3.8 220.2 +1.4 179.7 +0.5

Feb-16 1654.8 -0.8 217.1 +0.4 178.9 -0.2

Jan-16 1667.8 -1.5 216.3 -3.8 179.3 -2.3

Dec-15 1692.51 +1.2 224.8 +0.8 183.5 +1.6

Nov-15 1672.16 +0.4 223.0 +0.1 180.6 +0.6

Oct-15 1665.71 +2.8 222.9 +2.4 179.5 +1.1

Sep-15 1621.74 +0.51 217.7 +2.2 177.5 +2.9

Aug-15 1612.74 -6.4 213.0 -3.0 172.5 -4.9

July-15 1723.14 +1.0 219.6 +0.4 181.3 +0.9

June-15 1706.64 -2.3 218.7 -0.7 179.7 -1.2

May-15 1747.52 -3.9 220.2 -0.3 181.9 -2.0

Apr-15 1818.28 -0.7 220.9 +1.6 185.6 +1.0

Mar-15 1830.78 +0.5 217.7 -0.2 183.8 -2.0

Feb-15 1821.21 +2.2 218.1 +2.0 187.5 +2.1

Jan -15 1781.26 +1.1 213.8 +3.4 183.6 +2.4

Dec-14 1761.25 -3.3 206.7 -3.0 179.3 -3.0

Nov-14 1820.89 -1.9 213.1 -1.0 184.8 -1.9

Oct-14 1855.15 +0.5 215.3 -0.5 188.4 -0.5

Sep-14 1846.31 -1.1 216.4 +0.3 189.3 +0.2

Aug-14 1866.11 -0.3 215.8 -0.2 188.9 -1.0

Jul-14 1871.36 -0.6 216.2 +1.8 190.8 +0.7

Jun-14 1882.71 +0.5 212.4 +1.6 189.5 +1.7

May-14 1873.38 +0.1 209.1 +1.1 186.3 +0.7

Apr-14 1871.52 +1.2 206.8 +0.7 185.0 +0.3

Mar-14 1849.21 +0.7 205.4 +2.4 184.5 +1.3

Feb-14 1835.66 +1.8 200.6 +2.1 182.2 +1.4

Jan-14 1804.03 -3.4 196.5 -1.0 179.7 -1.0

Dec-13 1866.96 +3.0 198.5 +1.9 181.5 +1.9

Nov-13 1812.72 +0.3 194.7 +0.9 178.0 +0.4

Oct-13 1806.85 +2.2 193.0 +0.8 177.3 +2.5

Sep-13 1768.62 +2.4 191.5 +1.5 173.1 +2.0

Aug-13 1727.58 -2.5 188.7 -1.6 169.7 -1.6

Jul-13 1772.62 -0.1 191.7 +0.8 172.5 +0.1

Jun-13 1773.54 +0.2 190.2 -2.4 172.4 -1.2

May-13 1769.22 +3.0 195.0 +5.2 174.5 +5.6

Apr-13 1717.65 +2.8 185.4 +1.7 165.3 +1.2

Appendix

- 14 -

14

Date KLCI m-o-m %

Change PMB Portfolio

m-o-m %

Change

PMB Islamic

Portfolio

m-o-m %

Change

Mar-13 1671.63 +2.1 182.3 +2.5 163.4 +1.6

Feb-13 1637.63 +0.6 177.9 +1.2 160.8 +0.1

Jan-13 1627.55 -3.6 175.8 +0.5 160.7 -1.6

Dec-12 1688.95 +4.8 175.0 +2.3 163.3 +3.3

Nov-12 1610.83 -3.7 171.1 -0.2 158.1 -2.4

Oct-12 1673.07 +2.2 171.5 +2.0 162.0 +1.3

Sep-12 1636.66 -0.6 168.2 0.0 159.9 -0.2

Aug-12 1646.11 +0.9 168.2 +1.0 160.2 +1.6

July-12 1631.60 +2.0 166.6 +2.3 157.7 +3.9

Jun-12 1599.15 +1.2 162.8 +1.1 151.9 +1.2

May-12 1580.67 +0.6 161.0 -0.9 150.1 -0.5

Apr-12 1570.61 -1.6 162.5 +0.3 150.9 -0.1

Mar-12 1596.33 +1.7 162.0 +1.4 151.1 +0.2

Feb-12 1569.65 +3.0 159.8 +3.0 150.8 +2.3

Jan-12 1521.29 -0.6 155.1 +2.7 147.4 +2.0

Dec-11 1530.73 +4.0 151.1 +1.6 144.5 +4.0

Nov-11 1472.10 -1.3 148.7 +1.9 138.9 +1.0

Sep-11 1387.13 -4.2 140.0 -3.9 132.0 -3.6

Aug-11 1447.27 -6.6 145.7 -4.9 136.9 -6.0

Jul-11 1518.91 -1.9 153.2 +0.2 145.6 +0.8

Jun-11 1579.07 +1.3 152.9 +1.0 144.5 +1.0

May-11 1558.29 +1.5 151.4 +2.6 143.1 +0.9

Apr-11 1534.95 -0.7 147.6 +1.7 141.8 -0.6

Mar-11 1545.13 +3.6 145.1 +3.6 142.7 +3.7

Feb-11 1491.25 -1.9 140.1 -1.8 137.6 -2.1

Jan-11 1519.94 +0.1 142.7 +1.8 140.5 +2.1

Dec-10 1518.91 +2.3 140.2 +4.3 137.6 +2.6

Nov-10 1485.23 -1.4 135.9 +1.4 135.0 +0.1

Oct-10 1505.56 +2.9 134.5 +2.6 134.9 +3.5

Sep-10 1,463.50 +2.9 131.9 +2.6 131.4 +3.7

Aug-10 1,422.49 +4.5 129.3 +1.5 127.7 -0.9

Jul-10 1,360.92 +3.6 127.8 +3.2 128.6 +2.5

Jun-10 1,314.02 +2.3 124.6 +0.5 126.1 +1.5

May-10 1,285.01 -4.6 124.1 -4.1 124.6 -4.3

Apr-10 1,346.38 +2.0 128.2 +1.2 128.9 +0.3

Mar-10 1,320.57 +3.9 127.0 +3.3 128.6 +2.9

Feb-10 1,270.78 +0.9 123.7 +0.3 124.9 +0.9

Jan-10 1,259.16 -1.1 123.4 -0.9 123.9 +0.1

Dec-09 1,272.78 +1.1 124.3 +1.4 123.8 +1.6

Nov-09 1,259.11 +1.3 122.9 +0.4 121.9 -0.8

* Performance includes income distribution of funds using reinvestment method.