PMB SUKUK FUND

Category

Growth

Income

Sukuk

Risk

Horizon

Daily Fund Price

NAV per Unit (RM)

0.7255

Change (RM)

0

Change (%)

0

Closing Prices For 13 Dec 2018

*Net Aset Value (NAV) Per Unit

Objective

The objective of the Fund is to provide investors with consistent income* stream and a steady capital appreciation in the medium to long term through investments in sukuk.
Notes:

  • Any material changes to the investment objective of the Fund require Unit Holder’s approval
  • *Income distribution (if any) will be made in the form of cash or additional Units reinvested into the Fund. Kindly refer to section 9.9 of the Master Prospectus on Income Distribution and Reinvestment Policies
Financial Year End

30 November

Asset Allocation

The Fund invests  between 70% and 99.5% of its NAV in RM-denominated sukuk. The balance will be invested in Islamic money market instruments, Islamic deposit placements and/or other permitted investments.

Investors Profile

The Fund is suitable for investors who:

  • have a low to moderate risk tolerance level;
  • have medium to long term investment horizon;
  • prefer a fund that conforms to Shariah principles; and
  • seek a stable income and capital growth in the medium to long term from a Shariah-compliant fund.

Principal Risk(s)

  • Profit/Interest rate risk
  • Credit/Default risk
  • Liquidity risk

Trustee

AmanahRaya Trustees Berhad

Others

Product Highlight Sheet (PHS) 720 KB Download File

What Unit Trust Fund Are You Investing In?

  • You are investing in a unit trust fund constituted in Malaysia that aims to provide investors with consistent income stream and a steady capital appreciation in the medium to long term through investments in sukuk.
  • You may receive distribution annually ( if any) from the Fund, subject to the availability of income for the financial period . The distribution may be in the form of cash or additional units.
Investment Strategy

The Fund seeks to achieve its objective by investing between 70% and 99.5% of its NAV in RM -denominated sukuk in Malaysia issued by the Government of Malaysia, BNM, quasi- government institutions and Malaysian corporations.
The Manager will conduct fundamental and technical analysis when implementing the investment strategy. The fundamental analysis will look into, among others, the global and domestic economic outlook, domestic fiscal and monetary policy, profit/ interest rate outlook, industry and company’s growth outlook. The technical analysis will look into, among others, the price, trading volume, trends and yields, of sukuk. For investments in sukuk issued by the Malaysian corporations, the minimum credit ratings of sukuk or the issuer of sukuk at the point of purchase are as follows :
a) Long Term Ratings
AA by RAM or A by MARC or an equivalent rating by any other recognized credit rating agencies; and/or
b) Short Term Ratings
P2 by RAM or MARC – 2 by MARC or an equivalent rating by any other recognized credit rating agencies
Notes:
i) The details of the assigned rating are as below –
Tenure Agency  Symbol Definition
Long Term RAM AA An issue rated AA has high safety for
payment of financial obligations. The issuer is resilient against adverse changes in circumstances, economic conditions and/or operating environments.
MARC A Indicates that the ability to repay principal and pay interest is strong. These issues could be more vulnerable to adverse developments, both internal and external, than obligations with higher ratings.
Short Term RAM P2 An issue rated P2 has adequate safety for payment of financial obligations in the short term. The issuer is more susceptible to the effects of deteriorating circumstances than those in the highest-rated category.
MARC MARC-2 While the degree of safety regarding timely repayment of principal and payment of interest is strong, the relative degree of safety is not as high as issues rated MARC-1.

ii) MARC-1 refers to ‘the highest category; indicates a very high likelihood that principal and
interest will be paid on a timely basis.
iii) For sukuk issued by the Government of Malaysia, BNM or Malaysian quasi-government
institutions, or guaranteed by the Government of Malaysia, the requirement for the
minimum credit rating may not apply.

The Fund Manager will actively manage the Fund. However, the trading frequency of sukuk is dependent on market opportunities and the assessment of the Manager. Should the credit rating of the sukuk or the issuer of sukuk falls below the minimum credit rating, the Manager may dispose of those investments in the best interest of Unit Holders. Any balance
not invested in sukuk will be invested in Islamic money market instruments, Islamic deposit placements and/or other permitted investments. The Fund invests between 70% and 99.5% of its NAV in sukuk. The balance will be invested in
Islamic money market instruments, Islamic deposit placements and/or other permitted
investments.

Shariah Principles Applicable

  • Investor appoints PMB Investment to manage and invest the Fund under the Islamic contract of ‘Wakalah’ or Agency.
  • PMB Investment is appointed to undertake the investment activities on behalf of the investors for ‘Ujrah’ or fee.
Parties Involved

  • PMB Investment Berhad: the Manager of the Fund
  • AmanahRaya Trustees Berhad: the Trustee of the Fund
  • BIMB Securities Sdn Bhd: the Shariah Adviser of the Fund
Possible Outcomes

As the Fund will invest between 70% and 99.5% in sukuk market, its NAV and hence your investment capital will be subject to a modera te market fluctuation.
*Assuming as a result of the market movement, the Fund and your investment may possibly end with the following
outcomes:
Movement of the Fund’s NAV Outcome of your investment capital
Increase by 10% Increase by 10%
Decrease by 10% Decrease by 10%

 

Average Total Return

Fund/Benchmark For The Period Ended 30 November 2017
(16/01/2017 –
30/11/2017)
#3 Years #5 Years #10 Years
PMB SF 0.90%
SUKUK BPAM 4.31%

Source: Lipper
# Note: No comparative figure as the Fund has changes the benchmark to BPAM 3y -7y All Sukuk Index
effective 16 January 2017.

Annual Total Return

Annual Total Return for the Past 10 Financial Year-Ending 30 November

Year PMB SF
(Formerly known as PMB
Shariah Balanced Fund)
Benchmark
2017 0.79% 3.74%
2016 (0.45%) (1.12%)
2015 3.06% (0.26%)
2014 2.35% 2.96%
2013 10.33% 9.80%
2012 4.24% 6.54%
2011 (2.74%) 1.41%
2010 (3.77%) 12.80%
2009 19.89% 25.46%
2008 (24.21%) (25.95%)

Note:
Change of benchmark
i) 16 January 2017 – BPAM 3y -7y All Sukuk Index (change of Fund’s investment objective
that invest in RM-denominated Sukuk)
ii) 15 January 2013 – 50% FBMSHA + 50% 1 year KLIRR (change of Fund’s investment
objective that invest in Shariah-compliant securities)
iii) 6 July 2009 – 60% FBM Top 100 Index + 40% Maybank’s 12 month Fixed Deposit Rate
(adoption by Bursa Malaysia of FTSE Bursa Malaysia Index Series)
iv) Prior to 6 July 2009 – 60% KLCI + 40% Maybank’s 12 month Fixed Deposit Rate.

Financial Year End
2017 2016 2015
Gross Distribution Per Unit – Cash (sen) 2.00 2.50 2.50
Net Distribution Per Unit – Cash (sen) *2.00 *2.50 *2.50
2017 2016 2015
0.16 times 0.26 times 0.36 times

The PTR was lower than the previous year as a result of a decrease in trading activities
undertaken by the Fund during the financial year.

Asset Allocation.

Year 2017 2016 2015
Equities 29.04% 39.00%
Islamic Real Estate Investment Trust (REIT) 1.81% 2.85%
Collective Investment Scheme 14.29%
Deposit Placement & Others 100.00% 69.15% 43.86%

The equity exposure was reduced to 0.00%, reflecting the change in strategy adopted by the
Fund.

Historical Financial Highlights

Financial Year Ending 30 November
Extract of Audited Statement of Income and Expenditure

Financial Year End
30 November
2017 2016 2015
Total Investment Income (RM) 46,218 21,334 81,518
Total Expenses (RM) (23,621) (30,368) (25,030)
Net Income/(loss) before
taxation
(RM) 22,597 (9,034) 56,488
Taxation (RM)
Net Income/(loss) after taxation (RM) 22,597 (9,034) 56,488

Audited Statement of Assets and Liabilities

Financial Year End
30 November
2017 2016 2015
Total Investment (RM) 986,434 1,450,673 1,374,854
Other Asset (RM) 431,531 77,918 145,770
Total Assets (RM) 1,417,965 1,528,591 1,520,624
Total Liabilities (RM) (42,467) (56,040) (53,346)
Net Asset Value (RM) 1,375,498 1,472,551 1,467,278
Unit Holders Funds (RM) 1,375,498 1,472,551 1,467,278

 

 


PAST PERFORMANCE OF THE FUND IS NOT AN INDICATION OF ITS FUTURE PERFORMANCE.

Total Annual Expenses

The table below shows the total annual expenses incurred by the Fund in its respective preceding financial year-end. The percentage was calculated based on the Average NAV.

Fund Mgt Fee Trustee Fee  Fund Expenses Total Expenses
(‘000) (%) (‘000) (%) (‘000) (%) (‘000) (%)
PMB SF (Formerly
known as PMB Shariah
Balanced Fund)
11.18 0.78 0.59 0.04 10.12 0.71 21.88 1.53
Management Expenses Ratio (MER)

The MERs of the Fund for the respective latest financial year are as follows:

Fund/Financial Year End 2017 2016 2015
PMB SF (Formerly known as PMB Shariah Balanced Fund) 1.53% 1.66% 1.63%
Total Return
Average Total Return

Fund/Benchmark For The Period Ended 30 November 2017
(16/01/2017 –
30/11/2017)
#3 Years #5 Years #10 Years
PMB SF 0.90%
SUKUK BPAM 4.31%

Source: Lipper
# Note: No comparative figure as the Fund has changes the benchmark to BPAM 3y -7y All Sukuk Index
effective 16 January 2017.

Annual Total Return

Annual Total Return for the Past 10 Financial Year-Ending 30 November

Year PMB SF
(Formerly known as PMB
Shariah Balanced Fund)
Benchmark
2017 0.79% 3.74%
2016 (0.45%) (1.12%)
2015 3.06% (0.26%)
2014 2.35% 2.96%
2013 10.33% 9.80%
2012 4.24% 6.54%
2011 (2.74%) 1.41%
2010 (3.77%) 12.80%
2009 19.89% 25.46%
2008 (24.21%) (25.95%)

Note:
Change of benchmark
i) 16 January 2017 – BPAM 3y -7y All Sukuk Index (change of Fund’s investment objective
that invest in RM-denominated Sukuk)
ii) 15 January 2013 – 50% FBMSHA + 50% 1 year KLIRR (change of Fund’s investment
objective that invest in Shariah-compliant securities)
iii) 6 July 2009 – 60% FBM Top 100 Index + 40% Maybank’s 12 month Fixed Deposit Rate
(adoption by Bursa Malaysia of FTSE Bursa Malaysia Index Series)
iv) Prior to 6 July 2009 – 60% KLCI + 40% Maybank’s 12 month Fixed Deposit Rate.

Distribution Highlight
Financial Year End
2017 2016 2015
Gross Distribution Per Unit – Cash (sen) 2.00 2.50 2.50
Net Distribution Per Unit – Cash (sen) *2.00 *2.50 *2.50
Portfolio Turnover Ratio (PTR)
2017 2016 2015
0.16 times 0.26 times 0.36 times

The PTR was lower than the previous year as a result of a decrease in trading activities
undertaken by the Fund during the financial year.

Asset Allocation
Asset Allocation.

Year 2017 2016 2015
Equities 29.04% 39.00%
Islamic Real Estate Investment Trust (REIT) 1.81% 2.85%
Collective Investment Scheme 14.29%
Deposit Placement & Others 100.00% 69.15% 43.86%

The equity exposure was reduced to 0.00%, reflecting the change in strategy adopted by the
Fund.

Historical Performance
Historical Financial Highlights

Financial Year Ending 30 November
Extract of Audited Statement of Income and Expenditure

Financial Year End
30 November
2017 2016 2015
Total Investment Income (RM) 46,218 21,334 81,518
Total Expenses (RM) (23,621) (30,368) (25,030)
Net Income/(loss) before
taxation
(RM) 22,597 (9,034) 56,488
Taxation (RM)
Net Income/(loss) after taxation (RM) 22,597 (9,034) 56,488

Audited Statement of Assets and Liabilities

Financial Year End
30 November
2017 2016 2015
Total Investment (RM) 986,434 1,450,673 1,374,854
Other Asset (RM) 431,531 77,918 145,770
Total Assets (RM) 1,417,965 1,528,591 1,520,624
Total Liabilities (RM) (42,467) (56,040) (53,346)
Net Asset Value (RM) 1,375,498 1,472,551 1,467,278
Unit Holders Funds (RM) 1,375,498 1,472,551 1,467,278

 

 

Total Annual Expenses
Total Annual Expenses

The table below shows the total annual expenses incurred by the Fund in its respective preceding financial year-end. The percentage was calculated based on the Average NAV.

Fund Mgt Fee Trustee Fee  Fund Expenses Total Expenses
(‘000) (%) (‘000) (%) (‘000) (%) (‘000) (%)
PMB SF (Formerly
known as PMB Shariah
Balanced Fund)
11.18 0.78 0.59 0.04 10.12 0.71 21.88 1.53
Management Expenses Ratio (MER)

The MERs of the Fund for the respective latest financial year are as follows:

Fund/Financial Year End 2017 2016 2015
PMB SF (Formerly known as PMB Shariah Balanced Fund) 1.53% 1.66% 1.63%
You should be aware that

  • The value of your investment, and the distribution payable, may go down as well as up.
  • The return of the Fund is not guaranteed.
Liquidity Risk

Liquidity risk refers to the ease of liquidating an asset depending on the asset’s volume traded in the market. If the Fund holds assets that are illiquid, or are difficult to dispose of, the value of the Fund will be negatively affected when it has to sell such assets at unfavourable prices.

Profit / Interest Rate Risk

Note:
Change of benchmark
i) 16 January 2017 – BPAM 3y -7y All Sukuk Index (change of Fund’s investment objective that invest in RM-denominated Sukuk)
ii) 15 January 2013 – 50% FBMSHA + 50% 1 year KLIRR (change of Fund’s investment objective that invest in Shariah-compliant securities)
iii) 6 July 2009 – 60% FBM Top 100 Index + 40% Maybank’s 12 month Fixed Deposit Rate
(adoption by Bursa Malaysia of FTSE Bursa Malaysia Index Series)
iv) Prior to 6 July 2009 – 60% KLCI + 40% Maybank’s 12 month Fixed Deposit Rate.

Credit Default Risk

Credit risk relates to the creditworthiness of the issuers of the sukuk and their expected ability to make timely payment of interest and/or principal. Any adverse situations faced by the issuer may impact the value as well as liquidity of the sukuk. In the case of rated sukuk, this may lead to a credit downgrade. Default risk relates to the risk that an issuer of a sukuk either defaulting on payments or failing to make payments in a timely manner which will in turn adversely affect the value of the sukuk. This could adversely affect the value of the fund.

WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT?

Payable directly by you :

You will need to pay the following fees and charges as a percentage of your gross investment sum :

Sales Charge
(imposed for every transaction
performed)
IUTA, UTC and direct
purchase
2.0%
EPF Members’
Investment Scheme
3.0%
Repurchase Charge Nil
Switching Fee Up to RM25.00 per transaction
Transfer Fee Up to RM10.00 per transaction
Other Charges
(imposed for every transaction
performed)
 Bank charges
 Telegraphic
Transfer charges
Rate is determined by the appointed bankers
Distribution Channel(s)  IUTA
 UTC
 Direct Purchase
 Autodebit
Payable indirectly by you :

Management Fee 0.75% per annum
Trustee Fee 0.04% per annum
Other Fees Charged by the
Fund
 Commisssions/fees paid to brokers/dealers;
 Auditor’s fee;
 Tax adviser’s fee;
 Valuation fee;
 Taxes;
 Custodial Charges;
 Tax voucher/distribution warrants; and
 Any other fees/expenses permitted by the Deed
*Note: In addition, the above fees and charges are subject to the GST at the prevailing rate.

YOU SHOULD NOT MAKE PAYMENT IN CASH TO A UNIT TRUST CONSULTANT OR ISSUE A CHEQUE IN THE NAME OF A UNIT TRUST CONSULTANT

HOW IT WORKS

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Open a trust and investment account with us

Download Forms


Take an Investor Profile Assessment

Discover your profile


Choose your preferred fund to invest

Compare our funds


Monitor and manage your investment

Our Services