August 2010 Review

8/8/2019 August 2010 Review

1/14

MAA Vulture Fund

August 2010

Fund Type

Equity Opportunity

Fund Objective

To provide capital appreciationover the short to medium-term

using an active asset allocationstrategy to benefit from potentialtrading opportunities.

Investor Profile

Looking to take advantage ofsharp price movements andother market opportunities, viaan active asset allocation andtrading strategy.

Looking for capital appreciation

rather than steady incomestream. Willing to accept a high level of

investment risk. Have a short to medium-term

investment horizon.

Fund Details

Unit NAV (31/08/2010) RM0.476

Fund Size (31/07/2010) RM70.952m

Launch Date 1-Sep-2005

Bonus Unit Distribution(per 100 units held)

2005 -

2006 20

2007 40

2008 8

2009 12

Highest & Lowest Unit NAV(adjusted for bonus distribution)

High Low

2005 0.246 0.244

2006 0.311 0.245

2007 0.455 0.312

2008 0.470 0.284

2009 0.412 0.286

2010 Y-t-d 0.478 0.414

Fund Performance for August 2010

Market review The blue-chip FBM KLCI equity index surged 4.5% m-m in August, closing at a new year-high of

1,422, on good corporate results and strong foreign fund inflows. Trading was active and wasfocused on large blue-chip index stocks.

Malaysias 2Q 2010 real GDP grew 8.9% y-y (1Q 2010: +10.1% y-y), ahead of the consensus

estimate of 8.4% y-y. 1H 2010 real GDP grew by 9.5% y-y. Malaysias CPI inflation rate rose 1.9% y-y in July, compared with 1.7% y-y in June. The Ringgit strengthened to 3.1495 against the US$ as at end-August, from 3.1820 as at end-

July.

Fund review

The Funds unit NAV rose 3.0% m-m in August and was up 15.7% year-to-date. The Fund was 96% invested in Equities as at end-August.

Fund Strategy

Market outlook The stock market sentiment is positive on better-than-expected corporate earnings and strong

fund inflows, despite lingering concerns over the strength of the global economic recovery.Although the stock market is overbought, liquidity inflows are driving the market.

The KLCI is likely to see buying support and a longer-term uptrend. The consensus estimatesshow that corporate earnings will grow around the mid-teens in 2011.

The pace of economic recovery, fiscal and monetary tightening will be closely watched. With thegradual recovery in the global economy and the financial markets, more asset allocation isexpected to move back into equities from cash and bonds.

Fund strategy

The Fund will continually look for opportunities to invest in undervalued stocks and sectors. The improved outlook for the economy and the stock market provides a good opportunity for

trading and to buy undervalued stocks at a low price for the longer term.

Performance of MAA Vulture Fund vsFTSE Bursa Malaysia KLCI (FBM KLCI)

Total Performance Return to31/08/2010

700

800

900

1000

1100

1200

1300

1400

1500

1600

1700

Aug-08 Feb-09 Aug-09 Feb-10 Aug-10

0.20

0.25

0.30

0.35

0.40

0.45

FBM KLCI (LHS) MAA VULTURE FUND (RHS)

MAA Vulture Fund

FBM KLCI

Absolute Return

(%)

FundFBMKLCI

1 month 3.0 4.5

3 months 8.7 10.7

6 months 11.7 11.9

Yr-to-date 15.7 11.8

1 year 21.3 21.1

2 years 30.5 29.3

3 years 13.5 11.7

5 years - -

Asset Allocation as at31/08/2010

Equities

96%

Cash

Equivalent

4%

Sector Allocation as at 31/08/2010 5 Largest Holdings as at31/08/2010

2%4%

8%

11%

11%

26%

16%

16%

6%

0% 5% 10% 15% 20% 25% 30%

Property

Plantations

Telecoms

Manufacturi

Construction

Transport

Consumer

Energy

Financials

Security Name% ofNAV

Maybank 8.9

Tanjong 7.7

Tenaga Nasional 7.2Berjaya Sports Toto 6.4

CIMB 6.1

This fact sheet is prepared for information purposes only. It does not have regard to other investment objectives, financial situation and any particular needs of any specific personwho may receive it. Investors should also consider the investment risks and the fees and charges carefully. Fund performance has been calculated based on unit prices assumingbonus unit distributions were reinvested. Past performance is not necessarily indicative of future performance. Price of units and distributions, if any, may go down as well as up.

Go to www.maa.com.my for more information on MAAs Investment-Linked Products


2/14

MAA Growth Fund

August 2010

Fund Type

Equity

Fund Objective

To provide capital appreciationover the medium to long-term

through investments in adiversified portfolio of stocks withhigh growth potential.

Investor Profile

Looking to gain exposure to thestock market, particularly insectors and listed companieswith good growth potential.

Looking for capital appreciationrather than steady income

stream. Willing to accept a high level of

investment risk. Have a medium to long-term

(typically 3 to 5 years)investment horizon.

Fund Details

Unit NAV (31/08/2010) RM0.411

Fund Size (31/07/2010) RM203.155m

Launch Date 1-Jul-1998


2005 4

2006 12

2007 15

2008 6

2009 15


High Low

2005 0.284 0.226

2006 0.286 0.227

2007 0.382 0.282

2008 0.400 0.239

2009 0.370 0.241

2010 Y-t-d 0.411 0.366






July.

Fund review


Fund Strategy





Fund strategy

The Fund is well-diversified among big and small caps, and will take the opportunity on anyweakness to buy stocks with good fundamentals and dividend yields.

The Fund will invest in well-managed companies that have good long-term growth potential,strong free cash flows and good dividend yields.

Performance of MAA Growth Fund vsFTSE Bursa Malaysia KLCI (FBM KLCI)


700

800

900

1000

1100

1200

1300

1400

1500

1600

1700


0.15

0.20

0.25

0.30

0.35

0.40

FBM KLCI (LHS) MAA GROWTH FUND (RHS)

MAA Growth Fund

FBM KLCI

Absolute Return(%)

FundFBMKLCI

1 month 3.3 4.5

3 months 7.9 10.7

6 months 9.3 11.9


1 year 19.6 21.1

2 years 31.5 29.3

3 years 18.8 11.7

5 years 72.1 55.7


Equities

78%Fixed

Income

Securities

5%

Cash

Equivalent

17%


3%5%

6%7%

10%11%

13%

25%19%

0% 5% 10% 15% 20% 25% 30%

ManufacturingProperty

TransportTelecoms

PlantationsConstruction

EnergyConsumerFinancials


Maybank 6.6

Genting Malaysia 5.7

Tanjong 5.6Berjaya Sports Toto 5.2

CIMB 5.1




3/14

MAA Dana Mas Maju

(formerly known as Dana Al-Fayyadh) August 2010

Fund Type

Syariah Equity

Fund Objective


through investments in adiversified portfolio of Syariah-approved stocks (as listed by theSyariah Advisory Council of theSecurities Commission) withhigh growth potential.

Investor Profile

Looking to invest in Syariah-approved listed companies withgood growth potential.

Looking for capital appreciationrather than steady incomestream.

Willing to accept a high level ofinvestment risk. Have a medium to long-term


Fund Details

Unit NAV (31/08/2010) RM0.399

Fund Size (31/07/2010) RM76.386m

Launch Date 8-Mar-1999


2005 6

2006 12

2007 15

2008 6

2009 10


High Low

2005 0.278 0.242

2006 0.307 0.244

2007 0.421 0.304

2008 0.444 0.261

2009 0.367 0.263

2010 Y-t-d 0.400 0.362


Market review The FBM Syariah equity index rose 1.6% m-m in August, closing at a new year-high, on good

corporate results and strong foreign fund inflows. Trading was active and was focused on largeblue-chip index stocks.



July.

Fund review

The Funds unit NAV rose 1.5% m-m in August and was up 10.6% year-to-date. The Funds equity exposure was 74% of NAV as at end-August.

Fund Strategy





Fund strategy

The Fund is well-diversified among big and small caps, and will take the opportunity on anyweakness to buy stocks with good fundamentals and dividend yields.

The Fund will invest in well-managed Syariah-approved companies that have good long-termgrowth potential, strong free cash flows and good dividend yields.

Performance of MAA Dana Mas Maju vsFBM Syariah Index


4000

5000

6000

7000

8000

9000

10000

11000

12000


0.15

0.20

0.25

0.30

0.35

0.40

FBM SYARIAH INDEX (LHS) MAA DANA MAS MAJU (RHS)

MAA Dana Mas Maju

FBM Syariah Index

Absolute Return

(%)

FundFBM

Syariah

1 month 1.5 1.6

3 months 7.3 8.3

6 months 7.3 7.1

Yr-to-date 10.6 8.7

1 year 12.6 12.8

2 years 17.5 21.8

3 years 5.9 3.9

5 years 59.7 55.4


Cash

Equivalent

19%

Fixed

Income

Securities

7%

Equities

74%


2%

3%

12%

13%

13%

13%

15%

8%

22%

0% 5% 10% 15% 20% 25%

Consumer

TechnologyManufacturing

Energy

Plantations

Property

Telecoms

Transportation

Construction


Tenaga Nasional 7.4

Binariang Bonds 12/2022 5.2

Axiata 5.2PLUS 5.1

Sime Darby 5.0




4/14

MAA Balanced Fund August 2010Fund Type

Balanced

Fund Objective

To provide a balanced mix ofcapital growth and fixed income

returns through investments in adiversified portfolio of stocks andfixed income securities.

Investor Profile

Looking to have a balancedportfolio of stocks and fixedincome instruments.

Looking for steady income returnwith potential for capital growth.

Willing to accept a moderate tohigh level of investment risk.

Have a medium to long-term(typically 3 to 5 years)investment horizon.

Fund Details

Unit NAV (31/08/2010) RM0.449

Fund Size (31/07/2010) RM95.669m



2005 12

2006 12

2007 15

2008 5

2009 9


High Low

2005 0.318 0.299

2006 0.356 0.294

2007 0.433 0.355

2008 0.452 0.311

2009 0.405 0.304

2010 Y-t-d 0.449 0.404






July. Bond yields were unchanged during the month, with the 5-year MGS yielding 3.37% in August.

Fund review

The Funds unit NAV rose 3.0% m-m in August, attributed mainly to higher equity returns. As at end-July, the Fund was 56% invested in Equities and 22% in Fixed Income.

Fund Strategy





Fund strategy

The Fund will identify fundamentally attractive stocks and bonds to invest in, so as to provide abalanced return with a moderate risk level.

For equity exposure, the Fund will invest in fundamentally attractive stocks that will benefit fromlong-term economic growth and stocks that offer good dividend yields. The Fund will selectivelyinvest in fixed income instruments that meet our credit quality, duration and yield requirements.

Performance of MAA Balanced Fund vsFTSE Bursa Malaysia KLCI (FBM KLCI)


700

800

900

1000

1100

1200

1300

1400

1500

1600


0.20

0.25

0.30

0.35

0.40

0.45

FBM KLCI (LHS) MAA BALANCED FUND (RHS )

MAA Balanced Fund

FBM KLCI

Absolute Return(%)

FundBenchmark*

1 month 3.0 2.4

3 months 6.6 5.7

6 months 8.9 6.7

Yr-to-date 10.9 6.8

1 year 15.9 11.9

2 years 21.7 17.5

3 years 10.7 10.7

5 years 47.4 37.0

* 50% FBM KLCI+50% FDAsset Allocation as at31/08/10

Cash

Equivalent

22%

Fixed

Income

Securities22%

Equities

56%


2%6%

7%7%

13%13%

21%

7%

25%

0% 5% 10% 15% 20% 25% 30%

ManufacturingTelecoms

ConstructionTransportProperty

PlantationEnergy

ConsumerFinancial


Maybank 6.4

Binariang Bonds 12/2022 5.7

Tanjong 5.4Berjaya Sports Toto 4.7

Malakoff Bonds 04/2013 3.2




5/14

MAA Dana Mas Yakin August 2010Fund Type

Syariah Balanced

Fund Objective

To provide a balanced mix ofcapital growth and fixed income

returns through investments in adiversified portfolio of Syariah-approved stocks (as listed by theSyariah Advisory Council of theSecurities Commission) andIslamic fixed income securities.

Investor Profile

Looking to have a balancedportfolio of Syariah-approvedstocks and fixed incomeinstruments.

Looking for steady income return

with potential for capital growth.

Willing to accept a moderate tohigh level of investment risk.


Fund Details

Unit NAV (31/08/2010) RM0.494

Fund Size (31/07/2010) RM20.504m



2005 -

2006 -

2007 30

2008 6

2009 9


High Low

2005 - -

2006 0.341 0.333

2007 0.471 0.345

2008 0.486 0.344

2009 0.445 0.344

2010 Y-t-d 0.495 0.443


Market review The FBM Syariah equity index rose 1.6% m-m in August, closing at a new year-high, on good

corporate results and strong foreign fund inflows. Trading was active and was focused on largeblue-chip index stocks.



July. Bond yields were unchanged during the month, with the 5-year MGS yielding 3.37% in August.

Fund review

The Funds unit NAV rose 0.8% m-m in August and was up 12.6% year-to-date. As at end-August, the Fund was 53% invested in Equities and 28% in Fixed Income.

Fund Strategy





Fund strategy

The Fund will identify fundamentally attractive Syariah-approved stocks and bonds to invest in, soas to provide a balanced return with a moderate risk level.

For equity exposure, the Fund will invest in stocks that will benefit from long-term economicgrowth and stocks that offer good dividend yields. The Fund will selectively invest more in fixedincome instruments that meet our credit quality, duration and yield requirements.

Performance of MAA Dana Mas Yakin vsFBM Syariah Index


5000

6000

7000

8000

9000

10000

11000

12000


0.25

0.30

0.35

0.40

0.45

0.50

FBM SYARIAH INDEX (LHS) MAA DANA MAS YAKIN (RHS)

MAA Dana Mas Yakin

FBM Syariah Index

Absolute Return

(%)

FundBenchmark*

1 month 0.8 0.9

3 months 6.3 4.5

6 months 7.2 4.2

Yr-to-date 12.6 5.3

1 year 14.5 7.8

2 years 24.9 13.8

3 years 10.9 6.9

5 years - -

* 50% FBM Syariah+50% FDAsset Allocation as at31/08/2010

Equities

53%

Fixed

Income

Securities

28%

Cash

Equivalent

19%


5%6%

11%14%15%16%

6%

28%

0% 5% 10% 15% 20% 25% 30% 35%

EnergyConsumer

Telecoms

Property

Manufacturing

Transport

Plantations

Construction


Malakoff Bonds 04/2014 7.8

PLUS Bonds 03/2015 5.6

PLUS 5.2United Plantations 4.9

Kossan Rubber 4.0




6/14

MAA Billion Cap Fund

August 2010

Fund Type

Equity Billion Cap

Fund Objective

To provide capital appreciationover the medium to long-term by

investing in large blue-chipcompanies with a marketcapitalization of RM1bn andabove.

Investor Profile

Looking to participate in thegrowth of the economy and thestock market, via investments inlarge market capitalizedcompanies and to outperformthe KL Composite Index (KLCI).

Looking for capital appreciationrather than steady incomestream.

Willing to accept a high level ofinvestment risk.


Fund Details

Unit NAV (31/08/2010) RM0.469

Fund Size (31/07/2010) RM13.253m



2005 -

2006 20

2007 30

2008 5

2009 12


High Low

2005 0.273 0.268

2006 0.337 0.269

2007 0.457 0.340

2008 0.472 0.268

2009 0.402 0.269

2010 Y-t-d 0.469 0.403






July.

Fund review


Fund Strategy





Fund strategy

The Fund will invest in large, blue-chip companies that have good long-term growth potential,strong free cash flows and good dividend yields.

The big caps comprise many government-linked companies (GLCs) which stand to benefit fromthe recovering local economy, government projects and growth in domestic consumption.

Performance of MAA Billion Cap Fund vsFTSE Bursa Malaysia KLCI (FBM KLCI)


700

800

900

1000

1100

1200

1300

1400

1500

1600

1700


0.20

0.25

0.30

0.35

0.40

0.45

FBM KLCI (LHS) MAA BILLION CAP FUND (RHS)

MAA Billion Cap Fund

FBM KLCI

Absolute Return

(%)

FundFBMKLCI

1 month 4.6 4.5

3 months 10.8 10.7

6 months 12.7 11.9


1 year 21.8 21.1

2 years 37.8 29.3

3 years 12.0 11.7

5 years - -


Cash

Equivalent

9%Equities

91%


2%7%

15%

16%

17%

30%

13%

0% 5% 10% 15% 20% 25% 30% 35%

PropertyPlantation

Consumer

Transport

Construction

Energy

Financials


Maybank 10.8

Tanjong 9.4

CIMB 7.4Tenaga Nasional 6.3

Berjaya Sports Toto 5.7




7/14

MAA Equity Booster Fund August 2010Fund Type

Equity High Beta

Fund Objective

To provide capital appreciationover the short to medium-term

using an active asset allocationstrategy and investing in adiversified portfolio of high betastocks and equity-relatedderivatives.

Investor Profile

Looking to leverage on sharpupward price movements andother market opportunities, viainvestments in a diversifiedportfolio comprising mainly ofhigh beta stocks and equity-

related derivatives. Looking for capital appreciation

rather than steady incomestream.

Willing to accept a very highlevel of investment risk.

Have a short to medium-terminvestment horizon.

Fund Details

Unit NAV (31/08/2010) RM0.484

Fund Size (31/07/2010) RM4.227m



2005 -

2006 12

2007 30

2008 5

2009 15


High Low

2005 0.286 0.284

2006 0.342 0.276

2007 0.490 0.346

2008 0.483 0.270

2009 0.424 0.263

2010 Y-t-d 0.489 0.414






July.

Fund review


Fund Strategy





Fund strategy

Using an active trading strategy, the Fund will prudently invest in high beta securities. Due to the high volatility of such securities, the Fund will invest in high beta stocks and warrants of

fundamentally strong companies, in order to minimize overall risk.

Performance of MAA Equity Booster Fund vsFTSE Bursa Malaysia KLCI (FBM KLCI)


700

800

900

1000

1100

1200

1300

1400

1500

1600

1700


0.20

0.25

0.30

0.35

0.40

0.45

0.50

FBM KLCI (LHS) MAA EQUITY BOOSTER FUND (RHS)

MAA Equity Booster Fund

FBM KLCI

Absolute Return

(%)

FundFBMKLCI

1 month 1.7 4.5

3 months 8.3 10.7

6 months 10.8 11.9


1 year 20.7 21.1

2 years 36.6 29.3

3 years 10.7 11.7

5 years - -


Cash

Equivalent

23%Equities

77%


6%11%

13%

15%

17%

26%

13%

0% 5% 10% 15% 20% 25% 30%

Energy

Consumer

Property

Manufacturing

Transport

Financials

Construction


Maybank 9.8

Sunway Holdings 5.6

Kossan Rubber 4.8Tanjong 4.6

Hirotako Holdings 4.5




8/14

MAA Small Cap Fund

August 2010

Fund Type

Equity Small Cap

Fund Objective


through investments in adiversified portfolio of small highgrowth companies with a paid-upcapital of up to RM300m.

Investor Profile

Looking to gain exposure tosmaller listed companies withhigh growth potential.

Looking for high capital growthrather than steady incomestream.

Willing to accept a high level ofinvestment risk. Have a medium to long-term


Fund Details

Unit NAV (31/08/2010) RM0.463

Fund Size (31/07/2010) RM3.738m

Launch Date 2-Feb-2001


2005 8

2006 12

2007 20

2008 7

2009 10


High Low

2005 0.302 0.270

2006 0.333 0.273

2007 0.489 0.330

2008 0.484 0.314

2009 0.439 0.307

2010 Y-t-d 0.475 0.424


Market review The FBM Small Cap index fell 3.5% m-m in August, as interest reverted to big caps. The FBM Fledgling index fell 1.5% m-m in August. The FBM ACE (formerly Mesdaq) index fell 2.6% m-m in August. In comparison, the blue-chip FBM KLCI index rose 4.5% m-m in August.

Fund review The Funds unit NAV fell 0.8% m-m in August. Year-to-date, the Funds unit NAV was up 10.8%. The Fund was 55% invested in Equities as at end-August.

Fund Strategy

Market outlook The stock market momentum has improved on stronger-than-expected corporate earnings,

despite lingering concerns over the strength of the global economic recovery. The KLCI is likely to see buying support and a longer-term uptrend. The consensus estimates

show that corporate earnings will grow in the mid-teens in 2010 and 2011. The pace of economic recovery, fiscal and monetary tightening will be closely watched. With the

gradual recovery in the global economy and the financial markets, more asset allocation isexpected to move back into equities from cash and bonds.

Fund strategy

We see intrinsic value among small caps, which may provide better long-term growth potentialfrom a smaller base, and trade at cheaper valuations compared to their larger counterparts.

The Fund will look for well-managed emerging companies, which have high long-term growthpotential, strong cash flows and good dividend yields. Bearing in mind the liquidity and volatility ofsmall cap stocks, the Fund aims to provide consistent long-term returns.

Performance of MAA Small Cap Fund vsFBM Small Cap Index


5000

6000

7000

8000

9000

10000

11000

12000

13000

14000


0.20

0.25

0.30

0.35

0.40

0.45

FBM Small Cap Index (LHS) MAA SMALL CAP FUND (RHS)

MAA Small Cap Fund

FBM Small Cap Index

Absolute Return(%)

FundFBMSmallCap

1 month -0.8 -3.5

3 months 4.3 5.8

6 months 6.2 4.7

Yr-to-date 10.8 9.6

1 year 9.6 13.62 years 20.9 24.9

3 years 5.0 2.5

5 years 71.0 91.6


Cash

Equivalent

45%

Equities

55%


2%3%

10%

17%

18%

21%21%

8%

0% 5% 10% 15% 20% 25%

EnergyFinancials

Plantation

Technology

Property

Construction

Manufacturing

Consumer


Kossan Rubber 4.7

Media Chinese Intl 4.7

United Plantations 4.1Hirotako Holdings 3.5

Hektar REIT 3.5




9/14

MAA Technology Fund

August 2010

Fund Type

Equity Technology

Fund Objective


through investments in adiversified portfolio of stocks inthe technology, telecoms andmedia sectors.

Investor Profile

Looking to gain exposure to highgrowth companies in thetechnology, telecommunicationsand media-related sectors.

Looking for high capital growthrather than steady income

stream. Willing to accept a high level of

investment risk. Have a medium to long-term


Fund Details

Unit NAV (31/08/2010) RM0.452

Fund Size (31/07/2010) RM0.926m

Launch Date 6-Feb-2001


2005 10

2006 12

2007 12

2008 8

2009 8


High Low

2005 0.275 0.248

2006 0.310 0.260

2007 0.379 0.312

2008 0.378 0.300

2009 0.397 0.285

2010 Y-t-d 0.471 0.384


Sector review The benchmark KL Technology index fell 11.2% m-m in August, as prices of semiconductor-

related stocks fell on fears of slowing demand and over-capacity. The FBM ACE (formerly Mesdaq) index fell 2.6% m-m in August. As a comparison, the blue-chip FBM KLCI index rose 4.5% m-m in August.

Fund review

The Funds unit NAV fell 2.8% m-m in August. Year-to-date, the Funds unit NAV was up 18.5%. The Funds equity exposure was 28% of NAV as at end-August. In terms of sector exposure, the Fund had 51% of equities in technology stocks, 30% in media

stocks and 19% in telecom stocks as at end-August.

Fund Strategy

Sector outlook Electronic exports, especially semiconductors, continue to show positive growth rates, but the

growth rate is starting to slow, due to a higher base in the 2H last year. In the telecom sector, usage growth will come from wireless broadband. Cash flow and dividend

payouts are expected to be good for the big service providers. The media stocks face less competition and should benefit from a recovery in advertisement

spending. The media stocks tend to have good cash flows and dividend yields.

Fund strategy

After a strong run this year, the semiconductor stocks are showing price weakness on profit-taking.

The telecom and media sectors offer good cash flows and dividend yields. The Fund will maintain a diversified portfolio of technology-related companies, and will invest in

technology, telecom and media companies which have good long-term growth potential, decentvaluations, strong balance sheet, good cash flows and dividend yields.

Performance of MAA Technology Fund vsKL Technology Index


10

20

30

40


0.15

0.20

0.25

0.30

0.35

0.40

0.45

KL TECHNOLOGY INDEX (LHS) MAA TECHNOLOGY FUND (RHS)

MAA Technology Fund

KL Technology Index

Absolute Return(%)

Fund KL Tech

1 month -2.8 -11.2

3 months -1.0 -13.8

6 months 7.6 -5.4

Yr-to-date 18.5 6.2

1 year 23.4 16.4

2 years 28.1 8.9

3 years 26.0 -22.3

5 years 79.4 -34.6


Cash

Equivalent

72%

Equities

28%


19%

30%

51%

0% 10% 20% 30% 40% 50% 60%

Telecoms

Media

Technology


Media Chinese Intl 8.6

Malaysian Pacific Ind 6.0

Maxis 5.5Unisem 5.2

Notion VTEC 3.2




10/14

MAA Income Fund August 2010Fund Type

Income

Fund Objective

To provide a stable level ofincome through investments

predominantly in a diversifiedportfolio of fixed incomesecurities.

Investor Profile

Looking to have a portfolio ofpredominantly fixed incomeinstruments and some dividendstocks.

Looking to receive a steadyincome stream.

Willing to accept a low tomoderate level of investmentrisk.

Have a medium to long-terminvestment horizon (typically 3 to5 years).

Fund Details

Unit NAV (31/08/2010) RM0.530

Fund Size (31/07/2010) RM59.264m


Cash Dividend Distribution(per unit held)

2005 3.6 sen

2006 2.4 sen

2007 1.3 sen

2008 0.8 sen

2009 4.4 sen

Highest & Lowest Unit NAV

High Low

2005 0.539 0.502

2006 0.524 0.500

2007 0.516 0.500

2008 0.508 0.486

2009 0.544 0.499

2010 Y-t-d 0.530 0.501


Market review

Bank Negara kept the Overnight Policy Rate (OPR) on hold at 2.75% at its recent Monetary PolicyCommittee (MPC) meeting in September, citing concerns that growth momentum has moderatedin major economies.

Malaysias real economy grew by 8.9% y-y in 2Q 2010, supported by strong domestic and external

demand. The CPI inflation rate rose 1.9% y-y in July (June: +1.7% y-y). Short-term government bonds (MGS) yield curve flattened during the month. MGS gains were

skewed towards the longer-term MGS. 3-year MGS yields dropped 4 basis-points (bps) m-m to3.11% and 10-year MGS dropped 18 bps m-m to 3.69% as at end-August.

Fund review

The Funds unit NAV rose 1.2% m-m in August, boosted by gains in equity prices and stableincome generated from bonds in the portfolio.

As at end-August, the Funds fixed income exposure stood at 63% of NAV. The equity exposurewas at 9% of NAV.

Fund Strategy

Market outlook

The next MPC meeting is on 12 November. The bond market expects Bank Negara will maintainthe OPR at 2.75% for the rest of the year, due to slowing global growth and expects the globaleconomy to expand at a more moderate pace.

Bank Negara expects CPI inflation to rise at a modest pace in the coming months and to remainmoderate in 2011.

There will be only one MGS auction in September: a new issue of 3-year GII. There is likely to benet buying interest in selected short-term corporate issues in the AAA and AA-rated segments.

Fund strategy

The Fund will increase its bond portfolio when reasonably priced issues are available. The Fund will also look to invest in corporate bonds with better credit or higher yields. In order to increase returns, the Fund will invest up to 10% of NAV in stocks with high dividend

yields and low price volatility (low beta).

Performance of MAA Income Fund vs12-month Fixed Deposit Total Performance Return to31/08/2010

1.00

1.10

1.20

1.30

1.40

1.50

1.60

Jul-98 Jul-99 Jul-00 Jul-01 Jul-02 Jul-03 Jul-04 Jul-05 Jul-06 Jul-07 Jul-08 Jul-09 Jul-10

MBB 12 mth FD MAA Income Fund

Income Fund

12 mth FD

Absolute Return

(%)

Fund12 mth

FD

1 month 1.2 0.2

3 months 2.7 0.7

6 months 5.0 1.4

Yr-to-date 6.1 1.8

1 year 9.7 2.7

2 years 18.9 5.8

3 years 17.9 9.8

5 years 28.2 18.3


Equities

9%

Cash &

Deposits

28%

Fixed Income

Securities

63%


0.0%

27.3%

0.0%

0.7%

0.0%

0.0%

1.3%

33.8%

8.2%

20.5%

0.0%

8.1%

0% 10% 20% 30% 40%

Constructn

Finance

Property

Industrial

Trading

Agriculture

Water

Power

Technology

Infrastructure

Government

Others Security Name% ofNAV

Malakoff IMTN 7.8

PLUS SPV IMTN 6.7

Syabas IMTN 5.7

Binariang IMTN 5.2

AmBank Bonds 4.4

This fact sheet is prepared for information purposes only. It does not have regard to other investment objectives, financial situation and any particular needs of any specific personwho may receive it. Investors should also consider the investment risks and the fees and charges carefully. Fund performance has been calculated based on unit prices assumingcash dividend distributions were reinvested. Past performance is not necessarily indicative of future performance. Price of units and distributions, if an may go down as well as up.y,



11/14

MAA Dana Seri Mulia

(formerly known as Dana As-Salam) August 2010

Fund Type

Syariah Income

Fund Objective

To provide a stable level ofincome through investments

predominantly in a diversifiedportfolio of Islamic fixed incomesecurities.

Investor Profile

Looking to have a portfolio ofpredominantly Islamic fixedincome instruments and someSyariah-approved stocks.

Looking to receive a steadyincome stream.


Have a medium to long-terminvestment horizon (typically 3 to5 years).

Fund Details

Unit NAV (31/08/2010) RM0.520

Fund Size (31/07/2010) RM57.614m

Launch Date 8-Mar-1999


2005 2.8 sen

2006 2.3 sen

2007 2.8 sen

2008 1.4 sen

2009 3.4 sen


High Low

2005 0.532 0.503

2006 0.523 0.500

2007 0.529 0.500

2008 0.514 0.486

2009 0.534 0.500

2010 Y-t-d 0.520 0.501


Market review





Fund review

The Funds unit NAV rose 1.0% m-m in August, driven by gains in equity prices and stable incomefrom bonds in the portfolio.

As at end-August, the Funds fixed income exposure increased to 64.5% of NAV, after thepurchase of several Islamic bonds. The equity exposure was at 5.9% of NAV.

Fund Strategy

Market outlook The next MPC meeting is on 12 November. The bond market expects Bank Negara will maintain

the OPR at 2.75% for the rest of the year, due to slowing global growth and expects the globaleconomy to expand at a more moderate pace.



Fund strategy

The Fund will increase its Islamic bond portfolio when reasonably priced issues are available. The Fund will also look to invest in Islamic corporate bonds with better credit or higher yields. In order to increase returns, the Fund will invest up to 10% of NAV in Syariah-approved stocks

with high dividend yields and low price volatility (low beta).

Performance of MAA Dana Seri Mulia vs12-month Fixed Deposit


1.00

1.10

1.20

1.30

1.40

1.50

1.60

Mar-99 Mar-00 Mar-01 Mar-02 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10

MAA Dana Seri Mulia Fund MBB 12 mth FD

Dana Seri Mulia

12 mth FD

Absolute Return

(%)

Fund12 mth

FD

1 month 1.0 0.2

3 months 2.6 0.7

6 months 3.6 1.4

Yr-to-date 4.0 1.8

1 year 6.2 2.7

2 years 15.6 5.8

3 years 15.0 9.8

5 years 27.1 18.3


Equities,

5.9%

Cash &

Deposits,

29.7%

Fixed

Income

Securities,

64.5%


29.8%

0.0%

0.0%0.0%

0.0%

12.3%

28.4%

11.9%

17.7%

0.0%

0% 5% 10% 15% 20% 25% 30% 35%

Finance

Trading

IndustrialProperty

Agriculture

Road

Power

Technology

Infrastructure

Government


Islamic MGS 12.0

Malakoff IMTN 7.9

PLUS SPV IMTN 6.7

Tanjung Bin IMTN 5.5

Cagamas Bonds 4.5




12/14

MAA Capital Guaranteed Fund 2

August 2010

Fund Type

Capital Guaranteed

Fund Objective

To provide capital outlayprotection at the end of the 5-

year maturity period.

Investor Profile

Looking to have a portfolio offixed income instruments, cashand some equities.

Looking at a conservativediversified fixed income fund

with capital outlay protection andsome capital growth potential.


Have a fixed investment horizon.

Fund Details

Unit NAV (31/08/2010) RM0.609

Fund Size (31/07/2010) RM15.689m



2005 -

2006 -

2007 -

2008 -

2009 -


High Low

2005 0.508 0.500

2006 0.517 0.503

2007 0.543 0.520

2008 0.571 0.541

2009 0.606 0.569

2010 Y-t-d 0.609 0.592


Market review





Fund review

The Funds unit NAV was rose 1.0% m-m in August, driven by gains in equity prices and stableincome from bonds in the portfolio.

The Funds fixed income investment exposure was at 73% of NAV as at end-August. The equity exposure was at 8% of NAV as at end-August. The surplus cash is put in money-market placements to meet policy maturity payments.

Fund Strategy





Fund strategy

The Fund will maintain a bond portfolio with a short average portfolio duration to match theremaining capital-guaranteed period.

The Fund may invest up to 10% of NAV in equity-related securities to boost returns. Surplus cash will be placed in the money-market to prepare for redemptions at maturity. The Fund starts to mature from August 2010 to June 2011.

Performance of MAA Capital Guaranteed Fund 2 vs12-month Fixed Deposit


1.000

1.030

1.060

1.090

1.120

1.150

1.180

1.210

1.240

Oct-05 Mar-06 Aug-06 Jan-07 Jun-07 Nov-07 Apr-08 Sep-08 Feb-09 Jul-09 Dec-09 May-10

M AA M CG P2 Fu nd M BB 12 mt h FD

MCGP2

12 mth FD

Absolute Return

(%)

Fund12 mth

FD

1 month 1.0 0.2

3 months 1.7 0.7

6 months 2.5 1.4

Yr-to-date 3.0 1.8

1 year 2.0 2.7

2 years 11.1 5.8

3 years 14.0 9.8

5 years - -


Equities

8%

Cash &

Deposits

19%

Fixed

Income

Securities

73%


0.0%

19.1%

4.6%0.0%

0.0%

7.3%

0.0%

27.5%

41.6%

0% 10% 20% 30% 40% 50%

Infrastructure

Power

WaterProperty

IndustrialTechnology

Trading

Finance

Government


Short-term MGS 30.5

AmBank Senior Notes 16.8

YTL Power MTN 7.0Malakoff MTN 7.0

Binariang GSM IM NT 5.4

This fact sheet is prepared for information purposes only. It does not have regard to other investment objectives, financial situation and any particular needs of any specific personwho may receive it. Investors should also consider the investment risks and the fees and charges carefully. Fund performance has been calculated based on unit prices assumingcash dividend distributions were reinvested. Past performance is not necessarily indicative of future performance. Price of units and distributions, if any, may go down as well as up.



13/14

MAA Capital Guaranteed Fund 3

August 2010

Fund Type

Capital Guaranteed

Fund Objective

To provide capital outlayprotection at the end of the 5-

year maturity period.

Investor Profile

Looking to have a portfolio offixed income instruments, cashand some equities.


with capital outlay protection andsome capital growth potential.



Fund Details

Unit NAV (31/08/2010) RM0.591

Fund Size (31/07/2010) RM11.353m

Launch Date 18-Aug-2006


2005 -

2006 -

2007 -

2008 -

2009 -


High Low

2005 - -

2006 0.500 0.504

2007 0.523 0.504

2008 0.546 0.519

2009 0.577 0.545

2010 Y-t-d 0.591 0.577


Market review





Fund review

The Funds unit NAV was rose 0.9% m-m in August, driven by gains in equity prices and stableincome from bonds in the portfolio.

The Funds fixed income investment exposure was increased to 67.2% of NAV as at end-August. The equity exposure stood at 7.6% of NAV as at end-August.

Fund Strategy





Fund strategy

The Fund will increase its bond portfolio when reasonably priced issues are available and tomatch the remaining capital-guaranteed period.

The Fund invests up to 10% of NAV in equity-related securities to boost returns.

Performance of MAA Capital Guaranteed Fund 3 vs12-month Fixed Deposit


0.995

1.025

1.055

1.085

1.115

1.145

1.175

Aug-06 Dec-06 Apr-07 Aug-07 Dec-07 Apr-08 Aug-08 Dec-08 Apr-09 Aug-09 Dec-09 Apr-10 Aug-10

MAA MCGP3 Fund MBB 12 mth FD

MCGP3

12 mth FD

Absolute Return

(%)

Fund12 mth

FD

1 month 0.9 0.2

3 months 1.4 0.7

6 months 1.9 1.4

Yr-to-date 2.4 1.8

1 year 4.0 2.7

2 years 12.4 5.8

3 years 14.5 9.8

5 years - -


Equities,

7.6%

Cash &

Deposits,

25.1%

Fixed Income

Securities,

67.2%


0%

53%

0%27%

13%

7%

0%

0%

0%

0%

0% 10% 20% 30% 40% 50% 60%

Constructn

Government

TradingPower

Water

Finance

Technology

Property

Agriculture

IndustrialSecurity Name

% ofNAV

Short-term MGS 35.4

Malakoff MTNs 9.3

YTL Power MTN 9.2EON Bank Sub-Bonds 4.5

Ambank Senior Notes 4.4

This fact sheet is prepared for information purposes only. It does not have regard to other investment objectives, financial situation and any particular needs of any specific personwho may receive it. Investors should also consider the investment risks and the fees and charges carefully. Fund performance has been calculated based on unit prices assumingcash dividend distributions were reinvested. Past performance is not necessarily indicative of future performance. Price of units and distributions, if any, may go down as well as up.



14/14

MAA Yield Guaranteed Fund

August 2010

Fund Type

Capital and Yield Guaranteed

Fund Objective

To provide capital outlayprotection and a minimum total

yield of 16% of initial outlay atthe end of the 5-year maturityperiod.

Investor Profile

Looking to have a portfolio offixed income instruments, cashand short-term equities.


with capital outlay and yieldprotection.



Fund Details

Unit NAV (31/08/2010) RM0.525

Fund Size (31/07/2010) RM19.222m



2005 -

2006 -

2007 -

2008 -

2009 -


High Low

2005 0.508 0.500

2006 0.527 0.507

2007 0.544 0.510

2008 0.529 0.509

2009 0.563 0.512

2010 Y-t-d 0.525 0.514


Market review





Fund review

The Funds unit NAV rose 1.0% m-m in August, driven by gains in equity prices and stable incomefrom bonds in the portfolio.

The Funds fixed income investment exposure was at 84.5% of NAV. The equity exposure was at12.2% of NAV as at end-August.

The surplus cash is put in money-market placements to meet policy maturity payments.

Fund Strategy





Fund strategy

The Fund will maintain a bond portfolio with a short average portfolio duration to match theremaining capital-guaranteed period. The Fund August trade in equities to boost returns.

The Fund starts to mature from August 2010 to December 2010, and guarantees a minimum yieldof 16% at the end of the 5-year policy maturity.

Surplus cash will be placed in the money-market to prepare for redemptions at maturity.

Performance of MAA Yield Guaranteed Fund vs12 month Fixed Deposit Total Performance Return to31/08/2010

1.000

1.015

1.030

1.045

1.060

1.075

1.090

1.105

1.120

1.135

Oct-05 Mar-06 Aug-06 Jan-07 Jun-07 Nov-07 Apr-08 Sep-08 Feb-09 Jul-09 Dec-09 May-10

MAA MYGP Fund MBB 12 mth FD

MYGP

12 mth FD

Absolute Return(%)

Fund12 mth

FD

1 month 1.0 0.2

3 months 1.7 0.7

6 months 1.7 1.4

Yr-to-date 2.5 1.8

1 year -5.2 2.7

2 years 1.4 5.8

3 years 2.7 9.8

5 years - -


Equities,

12.2%

Cash &

Deposits,

3.0%

Fixed Income

Securities,

84.8%


0.0%

0.0%

23.6%

14.7%

4.7%

0.0%

57.1%

0.0%

0% 10% 20% 30% 40% 50% 60%

Infrastructure

Agriculture

Finance

Power

Water

Trading

Government

Industrial


Short-term MGS 40.7

AmBank Senior Notes 16.0

Malakoff MTN 8.3

YTL Power Bonds 4.1

EON Bank Sub-Bonds 4.0


G t f i f ti MAA I t t Li k d P d t

August 2010 Review

Documents

Transcript of August 2010 Review