PMB SHARIAH ASEAN STARS EQUITY FUND (MYR)**

Category

Equity

Growth

Risk

High

Medium

Horizon

Long

Medium

Daily Fund Price

NAV per Unit (RM)

0.4392

Change (RM)

0.002

Change (%)

0.4575

Closing Prices For 07 Jul 2020

*Net Aset Value (NAV) Per Unit

Objective

The Fund aims to achieve capital growth over the medium term to long term period by investing in a diversified portfolio of Shariah-compliant securities.

Financial Year End

31 October 2019

Asset Allocation

The Fund will invest in a diversified portfolio of Shariah-compliant equities listed on any recognized stock exchanges in ASEAN member countries where the respective regulatory authority is an ordinary or associate member of the International Organization of Securities Commissions (IOSCO).

It will invest between 70% to 99.5% of the Fund’s NAV in equities of any of the 300 largest Shariah-compliant companies in terms of market capitalization (at the point of purchase) listed on recognized stock exchange in any of the ASEAN member countries.

Investors Profile

This fund is suitable for investors who:

Seeking Shariah-compliant investments with growth potential;
Having medium to long term investment horizon; with
Medium to high risk tolerant

Principal Risk(s)

Equity Market Risk
Stock Specific Risk
Shariah Status Reclassification Risk
Warrant Risk
Liquidity Risk
Country Risk
Currency Risk

Trustee

CIMB Islamic Trustee Berhad

Others

Product Highlight Sheet (PHS)

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This Product Highlight Sheet (PHS) is prepared strictly for information purposes only and has not been reviewed neither endorsed by the Securities Commission Malaysia under Clause 5.15 of Guidelines on Marketing and Distribution of Unit Trust Funds. It does not have regard to the specific investment objectives or the financial situations needs of any specific person who may receive it physically or virtually. Before investing you are advised to read and understand the contents of the Master Prospectus dated 1 July 2019, the Prospectus of PMB Shariah ASEAN Stars Equity Fund dated 28 March 2018 and First Supplementary Prospectus of PMB Shariah ASEAN Stars Equity Fund dated 14 September 2018, which all had been registered with the Securities Commission Malaysia, who takes no responsibility for its contents. If in doubt, please consult a professional adviser and investors may also call our Customer Service Careline at 03-2785 9900 for further assistance.

What Unit Trust Fund Are You Investing In?

	Class of Units
	MYR Class	USD Class
Name	PMB Shariah ASEAN Stars Equity Fund
Category/ Type	Equity (Shariah)/ Growth
Initial Offer price	MYR0.5000	USD0.5000
Investment Objective	The Fund aims to achieve capital growth over the medium term to long term period by investing in a diversified portfolio of Shariah-compliant securities.
Distribution Policy	The distribution of income, if any, is incidental. Where the Fund distributes its income, such distribution will be made in the form of additional units and in the currencies in which those classes of units are denominated. The distribution will be credited to your investment account. The value of the reinvestment of distribution will be equivalent to the NAV per unit of each Class of unit on the first business day following the Distribution Date.

Investment Strategy

The designated fund manager will conduct a relative performance analysis of these 300 largest companies based on the stock price movement, growth potential, profitability and dividend yield. The relative performance analysis is to measure the performance strength among the stocks and aimed at selecting stocks for inclusion in the investment portfolio.

The designated fund manager will conduct the relative performance analysis at least on a monthly basis, or as and when significant changes in political or economic conditions in the countries, market indicators of relevant stock exchanges, or fundamentals of specific stocks that the Fund has held its investment.

The designated fund manager will actively monitor the investment portfolio of the Fund and will trade the stocks depending on the outcome of the relative performance analysis.

The Fund will maintain equity exposure within a range of 70% to 99.5% of its NAV. The remaining balance of the Fund’s NAV shall be invested in Islamic money market instruments, Islamic deposit placement, sukuk, Shariah compliant collective investment schemes and/or other Shariah compliant investment instruments.

The Fund may take temporary defensive positions that may be inconsistent with the Fund’s principal strategy corresponding to adverse economic and/or political conditions or potential sharp downturn in the equities market that may be likely leading to substantial capital loss. In such circumstances, the Manager may reallocate up to 100% of the Fund’s equity investments into other permitted investments, including Islamic money market instruments and/or Islamic deposit placements.

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
CIMB Islamic Trustee Berhad : the Trustee of the Fund
BIMB Securities Sdn Bhd : the Shariah Adviser of the Fund

Possible Outcomes

As the Fund will invest primarily in the equity market, its NAV and hence your investment capital will be subject to the 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%

*Other things remain unchanged

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

Total Return

Distribution Highlight

Portfolio Turnover Ratio (PTR)

Asset Allocation

Historical Performance

Total Annual Expenses

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.

Equity Market Risk

The performance of the Fund is subject to the volatility of the stock market which is influenced by the changes in the economic and political climate, profit rate, international stock market performance and regulatory policies. The movement of the value in the underlying investment portfolio will affect the NAV of the Fund. Any downward movement of the value will negatively impact the NAV of the Fund.

Stock Specific Risk

Prices of a particular stock may fluctuate in response to the circumstances affecting individual companies such as adverse financial performance, news of a possible merger or loss of key personnel of a company. Any adverse price movements of such stock will adversely affect the fund’s NAV.

Shariah Status Reclassification Risk

This risk refers to the risk that the currently held Shariah-compliant equities in the Fund may be reclassified as Shariah non-compliant in the periodic review of the equities by the SAC of the SC, the Shariah Adviser or the Shariah boards of the relevant Islamic indices. If this occurs, we will take the necessary steps to dispose such equities. There may be opportunity loss to the Fund due to the Fund not being allowed to retain the excess capital gains derived from the disposal of the Shariah non-compliant equities.

The designated fund manager will dispose of the equities within one month or such other period as maybe determined by the SAC of the SC if the prices are equal or above the cost of investment. Where the prices are below the cost of investment, the designated fund manager may hold on to the equities until the prices are equal to the cost of investment. If the designated fund manager decides to dispose of the equities below the cost of investment, the Fund will incur a realized loss that negatively impact the Fund’s NAV.

Warrant Risk

The Fund may hold Shariah-compliant warrants as a result of corporate actions of Shariah – compliant listed companies in which the Fund is holding their stocks. The value of warrants is influenced by the current market price of the underlying stocks, the exercise price of the warrant, the time to expiration of the warrant and the estimate of the future volatility of the underlying stock price over the life of the warrant . The warrant’s price decreases as the warrant approaches its due date especially in the event that the warrants are held and not exercised.

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 unfavorable prices.

Country Risk

Investments of the Fund in any countries may be affected by changes in the economic and political climate, restriction on currency repatriation or other developments in the law or regulations of the countries in which the Fund invests in. For example, the deteriorating economic condition of such countries may adversely affect the value of the investments undertaken by the Fund in those affected countries. This in turn may cause the net asset value of the Fund or prices of units to fall.

Currency Risk

As the investments of the Fund may be denominated in currencies other than the base currency, any fluctuation in the exchange rate between the base currency and the currencies in which the investments are denominated may have an impact on the value of these investments. Investors should be aware that if the currencies in which the investments are denominated depreciate against the base currency, this will have an adverse effect on the NAV of the Fund in the base currency and vice versa . Investors should note that any gains or losses arising from the fluctuation in the exchange rate may further increase or decrease the returns of the investment.

Currency risk at the Fund’s portfolio level

The impact of the exchange rate movement between the base currency of the fund and the currency of the underlying investments may result in a depreciation of the value of the investments as expressed in the base currency of the fund; and

Currency risk at the class level

The impact of the exchange rate movement between the base currency of the fund and the currency of the USD class may result in a depreciation of the investor’s holdings as expressed in the base currency of the fund. The risk occurs when converting the NAV per unit in the base currency to the NAV per unit in the USD class denomination at avaluation point. Investors in MYR class are not exposed to the risk as no conversion of the NAV per unit is required.

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	5.0%
Repurchase Charge	Nil
Switching Charge	1st switching – Nil
Switching Charge	2nd switching – MYR25 per switching of any Class of units.
Transfer Charge	MYR10.00

Payable indirectly by you :

Annual Management Fee	1.8% of the Fund’s NAV
Annual Trustee Fee	0.04% of the Fund’s NAV
Other Fees Charged by the Fund	Commissions/fees paid to brokers/dealers; Charges/fees paid to sub-costodian; Auditor’s fee; Tax adviser’s fee; Valuation fee; Taxes; 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.

Transaction Information :

Minimum initial investment	Individual	:	MYR 1,000.00 (for MYR Class) USD 1,000.00 (for USD Class)
Minimum initial investment	Institutional	:	MYR 10,000.00 (for MYR Class) USD 10,000.00 (for USD Class)
Minimum additional investment	Individual	:	MYR 100.00 (for MYR Class) USD 100.00 (for USD Class)
Minimum additional investment	Institutional	:	MYR 1,000.00 (for MYR Class) USD 1,000.00 (for USD Class)