31 October 2018

CIMB-Principal Greater China Equity

Fund
A S S E T MA N A GE ME N T

Available under the EPF Members Investment Scheme.

INVESTMENT VOLATILITY FUND OBJECTIVE

Aims to achieve medium to long-term capital growth primarily through investment in a

3-year
portfolio of equity securities with exposure to the Greater China region consisting of the
Fund Volatlity People’s Republic of China, Hong Kong SAR and Taiwan.

14.42 Very High

Lipper Analytcs FUND PERFORMANCE in MYR
15 Oct 2018

150%

130%
FUND INFORMATION
110%

Location Kuala Lumpur, Malaysia

90%
Domicile Malaysia
Fund Currency Ringgit Malaysia 70%

Fund Size (MYR) MYR 627.86 million 50%

Fund
Benchmark
Fund Unit 725.58 million units
30%

Fund Launch 12 June 2007 10%

Fund Inception (MYR) 12 June 2007
Nov-2007
May-2008
Nov-2008
May-2009
Nov-2009
May-2010
Nov-2010
May-2011
Nov-2011
May-2012
Nov-2012
May-2013
Nov-2013
May-2014
Nov-2014
May-2015
Nov-2015
May-2016
Nov-2016
May-2017
Nov-2017
May-2018
- 10%

Benchmark The Fund adheres to the benchmark of the - 30%

Target Fund. The benchmark of the Target

- 50%
Fund is the MSCI Golden Dragon Index
Cumulative Performance (%)
Dealing Daily (as per Bursa Malaysia trading day) Since
YTD 1 Month 3 Months 6 Months 1 Year 3 Years 5 Years Inception
Application Fee 5.50% of the NAV per unit
Management Fee 1.80% p.a. of the NAV Fund -10.24 -10.34 -11.03 -10.56 -11.68 26.47 85.05 82.59
Trustee Fee 0.08% p.a. of the NAV Benchmark -15.07 -10.52 -12.28 -13.66 -16.69 10.41 49.06 48.24

Calendar Year Performance (%)

Unit NAV (MYR) MYR 0.8653 2017 2016 2015 2014 2013 2012

Fund 29.60 10.60 18.75 14.87 13.07 14.92

Benchmark 26.64 7.11 10.65 11.78 11.32 15.35

Note: June 2007 to October 2018.

Performance data represents the combined income & capital return as a result of holding units in the fund for the
specified length of time, based on bid to bid prices. Earnings are assumed to be reinvested.
Source: Lipper

CIMB-PRINCIPAL AWARDS AND ACCOLADES

^Based on the fund's portfolio returns as at 15 October 2018, the Volatility Factor (VF) for this fund is 14.42 and is
classified as "Very High" (source: Lipper). "Very High" includes funds with VF that are above 11.135. The VF means
Currency ISIN Code Bloomberg Ticker there is a possibility for the fund in generating an upside return or downside return around this VF. The Volatility Class
(VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. VF is subject to monthly revision and VC
MYR MYU1000CB001 CIMGRCH MK will be revised every six months. The fund's portfolio may have changed since this date and there is no guarantee that
the fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least
36 months will display the VF and its VC.

We recommend that you read and understand the contents of the Master Prospectus Issue No. 21 dated 30 June 2017,
which has been duly registered with the Securities Commission Malaysia, before investing and that you keep the said
Master Prospectus for your records. Any issue of units to which the Master Prospectus relates will only be made upon
receipt of the completed application form referred to in and accompanying the Master Prospectus, subject to the terms
CIMB-Principal Asset Management Berhad and conditions therein. Investments in the Fund are exposed to counterparty risk, country risk, credit and default risk,
currency risk, fund manager’s risk, legal and taxation risk, liquidity risk and stock specific risk. You can obtain a copy of
10th Floor, Bangunan CIMB, Jalan Semantan the Master Prospectus from the head office of CIMB-Principal Asset Management Berhad or from any of our approved
distributors. Product Highlight Sheet ("PHS") is available and that investors have the right to request for a PHS; and
Damansara Heights, 50490 Kuala Lumpur. the PHS and any other product disclosure document should be read and understood before making any investment
decision. There are fees and charges involved in investing in the funds. We suggest that you consider these fees and
charges carefully prior to making an investment. Unit prices and income distributions, if any, may fall or rise. Past
Tel: (603) 2084 8888 performance is not reflective of future performance and income distributions are not guaranteed. You are also advised
Fax: (603) 2084 8899 to read and understand the contents of the Financing for Investment in Unit Trust Risk Disclosure Statement/Unit Trust
Loan Financing Risk Disclosure Statement before deciding to borrow to purchase units. Where a unit split/distribution
Website: www.cimb-principal.com.my is declared, you are advised that following the issue of additional units/distribution, the NAV per unit will be reduced
from pre-unit split NAV/cum-distribution NAV to post-unit split NAV/ex-distribution NAV; and where a unit split is
declared, the value of your investment in Malaysian ringgit will remain unchanged after the distribution of the additional
units.

Page 1 of 2
 31 October 2018

CIMB-Principal Greater China Equity

Fund
A S S E T MA N A GE ME N T

Available under the EPF Members Investment Scheme.

FUND MANAGER'S REPORT PORTFOLIO ANALYSIS

The Fund declined by 10.34% during the month of

ASSET ALLOCATION
October 2018, outperformed the benchmark by 0.18%.
Year-to-date, the Fund down by 10.24%, outperformed
Schroder - ISF Greater China 99.87%
the benchmark by 4.83%. On a sector basis, positive
Cash 0.13%
stock selection in materials and an underweight in
information technology were key contributors, while 100.00%
Total
stock selection in consumer discretionary was the key
detractor.

The portfolio remains reasonably def e n s i v e l y

positioned, with most of its exposure being towards the
domestic economy and structural themes rather than
externally via exporters. We remain underweight in
technology stocks given uncertainties brought about by
regulatory headwinds and scrutiny. We are also
positioned in financials, particularly interest rate
sensitive stocks (namely Hong Kong banks with dividend
SECTOR BREAKDOWN * COUNTRY ALLOCATION *
yield support) as well as Chinese insurance companies.
In the medium term we continue to favor domestic
Chinese and Hong Kong consumption names, where we
are seeing a pick-up in offline consumption spend as
well as retail spending in Hong Kong. While market
corrections have seen some value coming through, we
have thus far only selectively added to some areas.

Our holdings in Taiwan are mainly in the area of

technology although we have also been taking profit Financials 26.00% China 60.10%
selectively. These are held across a number of Consumer Discretionary 20.60% Hong Kong 24.20%
industries including semiconductors, iPhone supply Communication services 13.50% Taiwan 12.20%
chain companies as well as other component makers.
Information Technology 11.50% Liquid Assets 2.50%
We remain focused on companies with strong
fundamentals, and with further market weakness, we will Industrials 7.30% Australia 1.00%
be looking for opportunities to re-enter or rotate as value Materials 4.90%
re-emerges. Energy 4.00%
Consumer Staples 3.80%
Health Care 3.00%
Real Estate 2.90%
Liquid Assets 2.50%

Total 100.00% Total 100.00%

TOP HOLDINGS*

1 Taiwan Semiconductor Manufacturing Taiwan 8.60%

2 Tencent Holdings China 6.80%
3 Alibaba Group Holding China 5.20%
4 China Construction Bank China 4.40%
5 China Mobile China 3.80%
RISK STATISTICS
6 Industrial & Commercial Bank of China China 3.50%
Beta 1.03 7 AIA Group Hong Kong 3.10%
Information Ratio 1.80 8 PetroChina China 3.00%
Sharpe Ratio 0.36 9 Hong Kong Exchanges & Clearing Hong Kong 2.80%
3 years monthly data
10 HSBC Holdings Hong Kong 2.80%

Total 44.00%

*Of the target fund.

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