PMB WHOLESALE SUKUK FUND
Category
Income
Wholesale Sukuk
Risk
Moderate
Horizon
Long
Medium
Daily Fund Price
NAV per Unit (RM)
1.1412
Change (RM)
0.0002
Change (%)
0.0175
Closing Prices For 09 Dec 2019
*Net Aset Value (NAV) Per Unit
Objective
The Fund aims to provide investors with consistent income stream* and steady capital appreciation in the medium to long term, by investing primarily in sukuk.
∗ Income distribution will be paid in the form of units
Financial Year End
31 December
Asset Allocation
The asset allocation for the Fund is as follows:
- Minimum 70% of the Fund’s NAV in sukuk; and
- Maximum 30% of the Fund’s NAV in Islamic money market instruments, Islamic deposit placements and/or products, Shariah-compliant collective investment schemes, and/or other permitted investments.
The asset allocation strategy will be reviewed periodically to suit market condition and expectation. The Manager will adjust its exposure in sukuk to a minimum level of 50% to mitigate any potential loss when a general downturn in the sukuk market is expected.
Concurrently, the balance will be placed in Islamic money market instruments, Islamic deposit placements and/or products, Shariah-compliant collective investment schemes and/or other Shariah-compliant permitted investment to a maximum level of 50% for income, flexibility for investment or reinvestment, or sufficient liquidity for redemption request. The level will be adjusted in accordance with the Manager’s market outlook.
Investors Profile
The fund is suitable for qualified investors who:
- have moderate risk tolerance;
- have a medium to long term investment horizon;
- seek a combination of income and capital appreciation from investments; and
- seek Shariah-compliant investments.
Principal Risk(s)
General Risks Investing in the Fund
- Financing Risk – due to the investment is made through borrowing
- Fund Manager’s Risk – due to the poor management or investment strategies
- Inflation Risk – due to the loss of purchasing power
- Non-compliance Risk – due to the breach of the laws, rules and regulations
Specific Risks Investing in the Fund
- Credit/ Default Risk – due to the non-payment and/or untimely payment of the principal amount as well as the profits when they fall due when the Fund invests in sukuk. A Fund’s investor may suffer significant capital losses with respect to their capital invested and profit purpose.
- Profit/ Interest Rate Risk – due to the change in the profit/interest rate environment affecting the performance of the sukuk portfolio of the Fund. Generally, there is an inverse relationship between profit/interest rate and sukuk prices, where an increase of profit/interest rate may lower the prices of the sukuk.
- Liquidity Risk – due to the difficulty to liquidate the investment instruments of the Fund at their fair value in view of insufficient trading volume.
Trustee
Amanahraya Trustees Berhad
Others
| Product Highlight Sheet (PHS) | 449 KB | Download File |
| Information Memorandum | 434 KB | Download File |
What Unit Trust Fund Are You Investing In?
- Investment Objective
To provide investors with consistent income stream* and a steady capital appreciation in the medium
to long term by investing primarily in sukuk. - Distribution Policy
Income distribution on an annual basis, subject to the availability of income.
Average Total Return
| Fund / Benchmark | For The Period Ended 31 December 2018 | |
| 1 Year | 3 Years | |
| PMB WSF | 4.61% | 3.59% |
| Benchmark | 3.54% | 4.19% |
Source: Lipper
Annual Total Return
Annual Total Return since inception For The Year-Ending 31 December
| Year | PMB WSF | Benchmark |
| 2018 | 4.61% | 3.54% |
| 2017 | 3.84% | 3.36% |
| 2016 | 4.13% | 3.86% |
| Financial Year End | 2018 | 2017 | 2016 |
| Gross Distribution Per Unit – Cash (sen) | 2.50 | 2.50 | 2.00 |
| Net Distribution Per Unit – Cash (sen) | 2.50 | 2.50 | 2.00 |
* Distribution is in the form of units.
| 2018 | 2017 | 2016 |
| 1.76 | 0.26 | 0.99 |
The PTR was higher than the previous year as a result of an active turnover in order to get better return
Asset Allocation.
| Year | 2018 | 2017 | 2016 |
| Sukuk | 63.98% | 65.03% | 66.93% |
| Islamic Money Market Deposits | 36.02% | 34.97% | 32.82% |
Historical Financial Highlights
Financial Year Ending 31 December
Extract of Audited Statement of Income and Expenditure
| Financial Year End 31 December | 2018 | 2017 | 2016 | |
| Total Investment Income/(loss) | (RM) | 847,120 | 704,047 | 1,104,273 |
| Total Expenses | (RM) | (131,846) | (130,683) | (164,388) |
| Net Income/(loss) before taxation | (RM) | 715,274 | 573,364 | 939,885 |
| Taxation | (RM) | – | – | – |
| Net Income/(loss) after taxation | (RM) | 715,274 | 573,364 | 939,885 |
Extract of Audited Statement of Assets and Liabilities
| Financial Year End 31 December | 2018 | 2017 | 2016 | |
| Total Investment | (RM) | 16,093,177 | 15,329,496 | 14,768,456 |
| Other Asset | (RM) | 148,470 | 188,942 | 176,235 |
| Total Assets | (RM) | 16,241,647 | 15,518,438 | 14,944,691 |
| Total Liabilities | (RM) | (391,547) | (381,796) | (302,679) |
| Net Asset Value | (RM) | 15,850,100 | 15,136,642 | 14,642,012 |
| Unit Holders Funds | (RM) | 14,983,849 | 14,623,849 | 14,342,945 |
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 | ||||
| (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | |
| PMB WSF | 119 | 0.75 | 3 | 0.02 | 10 | 0.06 | 132 | 0.83 |
Management Expenses Ratio (MER)
The MER of the Fund for the respective latest financial year are as follows:
| Fund/Financial Year End | 2018 | 2017 | 2016 |
| PMB WSF | 0.83% | 0.86% | 0.86% |
Total Return
Average Total Return
| Fund / Benchmark | For The Period Ended 31 December 2018 | |
| 1 Year | 3 Years | |
| PMB WSF | 4.61% | 3.59% |
| Benchmark | 3.54% | 4.19% |
Source: Lipper
Annual Total Return
Annual Total Return since inception For The Year-Ending 31 December
| Year | PMB WSF | Benchmark |
| 2018 | 4.61% | 3.54% |
| 2017 | 3.84% | 3.36% |
| 2016 | 4.13% | 3.86% |
Distribution Highlight
| Financial Year End | 2018 | 2017 | 2016 |
| Gross Distribution Per Unit – Cash (sen) | 2.50 | 2.50 | 2.00 |
| Net Distribution Per Unit – Cash (sen) | 2.50 | 2.50 | 2.00 |
* Distribution is in the form of units.
Portfolio Turnover Ratio (PTR)
| 2018 | 2017 | 2016 |
| 1.76 | 0.26 | 0.99 |
The PTR was higher than the previous year as a result of an active turnover in order to get better return
Asset Allocation
Asset Allocation.
| Year | 2018 | 2017 | 2016 |
| Sukuk | 63.98% | 65.03% | 66.93% |
| Islamic Money Market Deposits | 36.02% | 34.97% | 32.82% |
Historical Performance
Historical Financial Highlights
Financial Year Ending 31 December
Extract of Audited Statement of Income and Expenditure
| Financial Year End 31 December | 2018 | 2017 | 2016 | |
| Total Investment Income/(loss) | (RM) | 847,120 | 704,047 | 1,104,273 |
| Total Expenses | (RM) | (131,846) | (130,683) | (164,388) |
| Net Income/(loss) before taxation | (RM) | 715,274 | 573,364 | 939,885 |
| Taxation | (RM) | – | – | – |
| Net Income/(loss) after taxation | (RM) | 715,274 | 573,364 | 939,885 |
Extract of Audited Statement of Assets and Liabilities
| Financial Year End 31 December | 2018 | 2017 | 2016 | |
| Total Investment | (RM) | 16,093,177 | 15,329,496 | 14,768,456 |
| Other Asset | (RM) | 148,470 | 188,942 | 176,235 |
| Total Assets | (RM) | 16,241,647 | 15,518,438 | 14,944,691 |
| Total Liabilities | (RM) | (391,547) | (381,796) | (302,679) |
| Net Asset Value | (RM) | 15,850,100 | 15,136,642 | 14,642,012 |
| Unit Holders Funds | (RM) | 14,983,849 | 14,623,849 | 14,342,945 |
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 | ||||
| (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | (RM’000) | (%) | |
| PMB WSF | 119 | 0.75 | 3 | 0.02 | 10 | 0.06 | 132 | 0.83 |
Management Expenses Ratio (MER)
The MER of the Fund for the respective latest financial year are as follows:
| Fund/Financial Year End | 2018 | 2017 | 2016 |
| PMB WSF | 0.83% | 0.86% | 0.86% |
WHAT ARE THE FEES AND CHARGES OF THIS INVESTMENT?
Payable directly by you :
| Sales Charge (imposed for every transaction performed) |
Nil | |
| Repurchase Charge | Nil | |
| Switching Fee | Nil | |
| Transfer Fee | N/A | |
| Other Charges (imposed for every transaction performed) |
|
Rate is determined by the appointed bankers |
| Distribution Channel(s) |
|
Payable indirectly by you :
| Management Fee | Up to 0.75 % p.a. of the NAV of the Fund, calculated daily |
| Trustee Fee | 0.02% p.a. of the NAV of the Fund, calculated daily |
| Other Fees Charged by the Fund |
|
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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