Shariah Financial Market Statement

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TAKAFUL IKHLAS GROWTH FUND FUND OBJECTIVE: To invest in Shariah-compliant listed equities to provide the capital growth over the medium to long term through the diversified, but growth-oriented portfolio. TARGET MARKET: Suitable for the investors who is mainly interested ingrowth and willing to take and accept higher risk in investment return. FUND MANAGER: Takaful Ikhlas Berhad. Appointed External Fund Manager: CIMB-Principal Islamic Asset Management Berhad. TOTAL RETURNS: 1 MONTH 6 MONTHS 1 YEAR 3 YEARS 5 YEARS GROWTH (%) 3.51 13.09 16.13 7.78 30.23 BENCHMARK (%) 0.25 2.95 2.71 -6.05 9.28 FUND PERFORMANCES: ASSET ALLOCATIONS: For Asset Allocation, the investment portfolio is subjected to the following: • Up to 98% of the Portfolio…show more content…
• The value of Portfolio’s holding of the share capital of any single issuer must not exceed 10% of total assets of Portfolio. • The value of the Portfolio’s holding in transferable securities issued by any single issuer must not exceed 15% of the Portfolio’s Net Asset Value (NAV) • The value of the Portfolio’s holding of the share capital of any group of companies must not exceed 20% of total asset of the Portfolio. • Shariah-compliant deposits can only be placed in licensed Financial Institutions (FIs) by Bank Negara Malaysia (BNM). FINANCIAL YEAR PERFORMANCE: GROWTH (%) BENCHMARK (%) 12-MONTH GIA HIGHEST NAV LOWEST…show more content…
Malaysia’s macroeconomic fundamentals remain strong as Gross Domestic Product (GDP) for the second quarter come in at 5.8% following a 5.6% expansion in the first quarter. Consequently, various economists have upgraded their full year GDP forecast for Malaysia to 5.2%-5.5% while the government estimate 4.3%-4.8%. Meanwhile, inflation continues to moderate to 3.2% in July after peaking at 5.1% in March. Bank Negara Malaysia (BNM) is expected to keep the Overnight Policy Rate unchanged at 3.00% for the rest of 2017. Ringgit Malaysia (RM) has established at c.4.30 to the US Dollar despite a sizeable government bond maturity during the month. Takaful Ikhlas expect the market to trade sideways despite the external headwinds from geopolitics and central banks normalisation plans as well as the net foreign outflows recorded in August for Bursa (June: +RM359m, July: +RM419m, August: -RM241m). Second quarter earnings were non-inspiring but we are hopeful that the 2H17 results will recover. Although Takaful Ikhlas expect that the markets to trade sideways, various key themes still present the good opportunity for returns. They
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