The top 5 funds invest into Malaysian equities.
Name of fund Return %(yr-to-date)
- Kenanga Growth Fund 11.4
- Kenanga Syariah Growth Fund 10.2
- Amislamic Growth 6.1
- Affinselect Growth Fund 4.3
- Prudential Dana Al-llham 6.5
Name of fund Return %(yr-to-date)
- Kenanga Growth Fund 11.4
- Kenanga Syariah Growth Fund 10.2
- Amislamic Growth 6.1
- Affinselect Growth Fund 4.3
- Prudential Dana Al-llham 6.5
In May, the FBM KLCI gained 1.5% (in RM terms). However, the top 5 funds flew way past the benchmark index and returned at least 2.7% during the month. A quick look at the top holdings of these funds did not yield any particular winning stocks that are common to all these funds, save for Axiata Group Berhad but the stock only rose 2.0% during the month (top 5 funds' allocation in this stock ranged from 3.4% to 7.1% of total NAV based on May 2011 factsheets). Once again, the stock-picking skills of the respective fund managers came under the spotlight.
The Consumer Price Index (CPI) in April 2011 accelerated to 3.2% year-on-year, the fastest pace in the past two years. There are also some signs that domestic demand could exert upward pressure on prices in 2H 2011, giving rise to expectations for further hikes in the Overnight Policy Rate (OPR) to 3.5% by the end of the year. To mop up the built-up global liquidity in the financial system, BNM also raised the Statutory Reserve Requirement (SRR) ratio from 2% to 3% effective from 16 May 2011.
On the currency exchange front, the RM strengthened against the euro by 1.4%, while at the same time it weakened against most other major currencies, including the Indonesian rupiah, yuan and US dollar by 1.9%, 1.9% and 1.7% respectively during the month. Since the start of 2011, the RM had risen against the US dollar 1.7% and weakened against the euro and yuan by 5.6%, and 0.2% respectively (as of 31 May 2011). (fundsupermart.com.my)
No comments:
Post a Comment