PMB SHARIAH SMALL-CAP FUND
Category
Equity
Growth
Risk
Horizon
Daily Fund Price
NAV per Unit (RM)
0.4296
Change (RM)
0.0179
Change (%)
4.3478
Closing Prices For 31 Mar 2020
*Net Aset Value (NAV) Per Unit
Objective
The objective of the Fund is to achieve capital growth over the medium to long term period by investing primarily in small-sized Shariah compliant companies listed on Bursa Malaysia, in term of market capitalization.
Financial Year End
31 July 2019
Asset Allocation
The Fund shall invest between 70% and 99.5% of its NAV in Shariah-compliant equity securities. The balance will be invested in Islamic money market instruments, Islamic deposit placements, sukuk, equity-related securities and/or other permitted investments
Investors Profile
The Fund is suitable for investors who:
- have a high risk tolerance level;
- have a medium to long term investment horizon;
- prefer a portfolio that conforms to Shariah principles; and
- seek for capital appreciation from an aggressive Shariah-compliant fund.
Principal Risk(s)
- Equity market risk
- Stock specific risk
- Liquidity risk
- Shariah status reclassification risk
Trustee
CIMB Islamic Trustee Berhad
Others
| Product Highlight Sheet (PHS) | 614 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 to achieve capital growth over the medium to long term period by investing primarily in small – sized Shariah compliant companies listed on the Bursa Malaysia, in term of market capitalization.
- You may receive distributions from the Fund from time to time to be decided at the sole discretion of the Managers. However, such distribution is not guaranteed. The distribution, of income, if any, will be made in the form of cash or additional units.
Investment Strategy
- The Fund shall invest between 50 % and 99.5% in a diversified portfolio of Shariah – compliant equity securities of small – sized listed companies on Bursa Malaysia with market capitalization of at least RM250 million but not more than RM1 billion (at the points of acquisition).
- However the Fund may invest up to 20% of its NAV in securities of companies with market capitalization in excess of RM1 billion but not more than RM7 billion ( at the point of acquisition).
- The Fund will focus its investment on companies with growth prospects in medium to long term horizon, reasonably good earnings, quality management and good corporate governance, as analyzed by the Manager. In view of the Fund’s objective, the designated fund manager will trade the securities depending on the securities market conditions.
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 Trustees 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
Average Total Return
| Fund / Benchmark | 1 Year | 3 Years |
| PMB SSCF |
19.99%
|
(2.16%) |
| FBM SCSI |
9.64%
|
(6.52%) |
Source: Lipper
Annual Total Return
| Year | PMB SSCF | Benchmark |
| 2019 |
(5.55%)
|
(9.72%)
|
| 2018 |
(17.37%)
|
(17.47%)
|
| 2017 | 9.64% | 19.99% |
| Financial Year End | 2019 | 2018 | 2017 |
|
Gross Distribution Per Unit – Cash (sen)
|
– | – | – |
|
Net Distribution Per Unit – Cash (sen)
|
– | – | – |
| 2019 | 2018 | 2017 |
| 0.62 times | 1.44 times | 2.82 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 | 2019 | 2018 | 2017 |
| Shariah Compliant Equities |
88.06%
|
95.22%
|
84.43%
|
| Islamic Deposit Placement & Others |
11.94%
|
4.78%
|
15.57%
|
The Fund’s exposure in equities was marginally reduced to 88.06% in 2019.
Historical Financial Highlights
Financial Year Ending 31 July
Extract of Audited Statement of Income and Expenditure
| Financial Year End | 2019 | 2018 | 2017 | |
| Total Investment Income/(loss) | (RM) | (984,365) | (4,292,454) | 1,768,445 |
| Total Expenses | (RM) | (494,718) | (629,904) | (174,795) |
| Net Income/(loss) before taxation | (RM) | (1,479,083) | (4,922,358) | 1,593,650 |
| Taxation | (RM) | – | – | – |
| Net Income/(loss) after taxation | (RM) | (1,479,083) | (4,922,358) | 1,593,650 |
Extract of Audited Statement of Assets and Liabilities
| Financial Year End | 2019 | 2018 | 2017 | |
| Total Investment | (RM) |
25,687,829
|
25,855,256
|
24,871,499
|
| Other Asset | (RM) | 180,043 | 2,492,679 | 1,448,461 |
| Total Assets | (RM) | 25,867,872 | 28,347,935 | 26,319,960 |
| Total Liabilities | (RM) |
39,070
|
(1,491,230)
|
(2,139,871)
|
| Net Asset Value | (RM) | 25,828,802 | 26,856,705 | 24,180,089 |
|
Unit Holders Funds
|
(RM) | 25,828,802 | 26,856,705 | 24,180,089 |
PAST PERFORMANCE OF THE FUND IS NOT AN INDICATION OF ITS FUTURE PERFORMANCE.
Total Annual Expenses
| Fund | Mgt Fee | Trustee Fee | Fund Expenses | Total Expenses | ||||
| (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | |
|
PMB
SSCF
|
388 | 1.50 | 13 | 0.05 | 8 | 0.03 | 409 | 1.58 |
Management Expenses Ratio (MER)
The MER of the Fund for the respective latest financial year are as follows
| Fund/Financial Year End | 2019 | 2018 | 2017 |
| PMB SSCF | 1.58% | 1.70% | 2.10% |
Total Return
Average Total Return
| Fund / Benchmark | 1 Year | 3 Years |
| PMB SSCF |
19.99%
|
(2.16%) |
| FBM SCSI |
9.64%
|
(6.52%) |
Source: Lipper
Annual Total Return
| Year | PMB SSCF | Benchmark |
| 2019 |
(5.55%)
|
(9.72%)
|
| 2018 |
(17.37%)
|
(17.47%)
|
| 2017 | 9.64% | 19.99% |
Distribution Highlight
| Financial Year End | 2019 | 2018 | 2017 |
|
Gross Distribution Per Unit – Cash (sen)
|
– | – | – |
|
Net Distribution Per Unit – Cash (sen)
|
– | – | – |
Portfolio Turnover Ratio (PTR)
| 2019 | 2018 | 2017 |
| 0.62 times | 1.44 times | 2.82 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 | 2019 | 2018 | 2017 |
| Shariah Compliant Equities |
88.06%
|
95.22%
|
84.43%
|
| Islamic Deposit Placement & Others |
11.94%
|
4.78%
|
15.57%
|
The Fund’s exposure in equities was marginally reduced to 88.06% in 2019.
Historical Performance
Historical Financial Highlights
Financial Year Ending 31 July
Extract of Audited Statement of Income and Expenditure
| Financial Year End | 2019 | 2018 | 2017 | |
| Total Investment Income/(loss) | (RM) | (984,365) | (4,292,454) | 1,768,445 |
| Total Expenses | (RM) | (494,718) | (629,904) | (174,795) |
| Net Income/(loss) before taxation | (RM) | (1,479,083) | (4,922,358) | 1,593,650 |
| Taxation | (RM) | – | – | – |
| Net Income/(loss) after taxation | (RM) | (1,479,083) | (4,922,358) | 1,593,650 |
Extract of Audited Statement of Assets and Liabilities
| Financial Year End | 2019 | 2018 | 2017 | |
| Total Investment | (RM) |
25,687,829
|
25,855,256
|
24,871,499
|
| Other Asset | (RM) | 180,043 | 2,492,679 | 1,448,461 |
| Total Assets | (RM) | 25,867,872 | 28,347,935 | 26,319,960 |
| Total Liabilities | (RM) |
39,070
|
(1,491,230)
|
(2,139,871)
|
| Net Asset Value | (RM) | 25,828,802 | 26,856,705 | 24,180,089 |
|
Unit Holders Funds
|
(RM) | 25,828,802 | 26,856,705 | 24,180,089 |
Total Annual Expenses
Total Annual Expenses
| Fund | Mgt Fee | Trustee Fee | Fund Expenses | Total Expenses | ||||
| (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | |
|
PMB
SSCF
|
388 | 1.50 | 13 | 0.05 | 8 | 0.03 | 409 | 1.58 |
Management Expenses Ratio (MER)
The MER of the Fund for the respective latest financial year are as follows
| Fund/Financial Year End | 2019 | 2018 | 2017 |
| PMB SSCF | 1.58% | 1.70% | 2.10% |
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.
Equity-related Securities Risk
The value of the equity – related securities depends on the value of the underlying equities that the securities are related to. Any upward movement in the value of the underlying equities may result an upward movement of the value of the respective equity – related securities, and vice versa. Hence, the movement of the value of the equity – related securities will affect the value of the Fund.
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, the Shariah adviser or the Shariah boards of the relevant Islamic indices. If this occurs, the Manager 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. In such an event, the Fund should : –
-
dispose of the securities within one month if the value of the securities exceeds or is equal to the investment cost on the date of announcement of the List of Shariah – compliant securities by the SAC. The Fund is allowed to keep dividends received and capital gain from the disposal of the securities up to the date of announcement of the List of Shariah – compliant securities by the SAC. However, any dividends received and excess capital gain from the disposal of Shariah non – compliant securities after the date of announcement of the List of Shariah – compliant securities by the SAC should be channeled to baitulmal and/or approved charitable bodies;
-
hold the respective securities if the market price of the said securities is below the investment cost, until the total subsequent dividends received (if any) and the market price or value of the securities is equal to the cost of investment at which time disposal has to take place within a month of attaining investment cost; or
-
dispose of the securities at the price lower than the investment cost which will result the decrease in the Fund’s value.
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, U
TC and direct
purchase
|
6.0% |
| 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)
|
|
Rate is determined by
the appointed bankers
|
| Distribution Channel(s) |
|
Payable indirectly by you :
| Management Fee | 1.5% per annum |
| Trustee Fee |
0.05% per annum
|
| Other Fees Charged by the Fund |
|
*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
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