SBM Capital Markets in partnership with Principal Financial Group brings you two UCITS Funds which provide investors with capital growth over the medium to long term through investments in Association of Southeast Asian Nations (ASEAN) assets, including equities.
All investments made by the funds are compliant with Shariah Investment Guidelines.
Benefit from a reduced entry fee of 1% till end of July 2019.
Minimum subscriptions of USD 10,000 for Islamic Equity Fund
Minimum subscriptions of USD 1,000 for Global Sukuk Fund
Subscriptions are open via any SBM counter across the island
Application Forms
The Fund is a mutual and is incorporated in Ireland. It is subject to the supervision of the Central Bank of Ireland within the scope of application of the laws of Ireland and the Fund has appointed CIMB-Principal Islamic Asset Management SdnBhd as investment manager to the Fund. The Investment Manager is regulated in Malaysia by the Securities Commission.
The Fund and the Investment Manager are not regulated and licensed by the Financial Services Commission (FSC) Mauritius. The FSC does not vouch for the financial soundness of the products or for the correctness of any statements made or opinions expressed with regards to it.
Past performance of the Fund does not guarantee future performance. The value of investments and their respective incomes may fluctuate according to market conditions. Where investment is made in currencies other than the investor’s domestic currency, the value of those investments and any receivables will be impacted by movements in exchange rates.
Prospective subscribers are expected to read and understand the prospectus and accept the risks on investment. The redemption may be deferred as mentioned in the prospectus. You are wholly responsible for ensuring that all the features and characteristics of the Fund fit your requirements.
Unless you fully understand and accept the nature of the Fund and its associated possible risks, you should not invest in the Fund.
SBM Capital Markets Ltd which is licensed by the FSC Mauritius acts as distributor of the Funds and gives no warranty or promise as to the performance or profitability of your investments or any part thereof. You may seek independent advice from a professional financial adviser before making a commitment
CIMB-PRINCIPAL Islamic Asean Equity Fund
What is the Islamic ASEAN Equity Fund?
The Principal Islamic ASEAN Equity Fund is an open-ended fund whose objective is to seek capital growth over the medium to long term. The Fund invests in equity and equity related securities comprising of depository receipts of companies that are domiciled in the ASEAN region.
What are the prospects for ASEAN markets?
ASEAN, at the current level of economic growth, is poised to become the fourth-largest market after EU, US, and China by 2030, supported by increased skilled workforce, abundant natural resources, and favorable geographic location for trade and commerce.
What is an equity fund?
An equity fund is a mutual fund that invests principally in stocks. In this case the fund is an open-ended fund, that is the fund sells shares directly to investors and redeems them as well.
Who are CIMB-Principal?
It is a joint venture between Principal Financial Group®, a member of the FORTUNE 500® and a Nasdaq-listed global financial services and CIMB Group Holdings Berhad, one of Southeast Asia’s leading universal banking groups.
Who are SBM Capital Markets Ltd?
SBM Capital Markets Ltd is a subsidiary of SBM (NBFC) Holdings Ltd and offers solutions to clients like Fund Management, Portfolio Management Services and Wealth Management Solutions, Distribution of Financial Products, Corporate Finance Advisory, Trading on both local and international markets and Structuring of Investment Products.
What about the partnership between Principal and SBM Capital Markets?
As part of its diversification strategy, SBM Capital Markets has partnered with Principal in order to offer other new investment solutions in order to satisfy its clients’ sophisticated demands.
What is the performance of the fund?
| Calendar Year Performance | |||||
|---|---|---|---|---|---|
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Fund Net | -11.39% | 20.48 | -1.85 | -10.81 | 8.19 |
What are the top 10 holdings of the fund?
| 1 | Singapore Telecommunications Ltd ORD | 8.7% |
| 2 | Telekomunikasi Indonesia (Persero) Tbk Perusahaan Perseroan PT ORD | 6.3% |
| 3 | Tenaga Nasional Bhd ORD | 4.8% |
| 4 | Airports of Thailand PCL ORD | 3.7% |
| 5 | Bermaz Auto Bhd ORD | 3.6% |
| 6 | Venture Corporation Ltd ORD | 3.4% |
| 7 | IGB Real Estate Investment Trust | 3.3% |
| 8 | Bangkok Dusit Medical Services PCL | 3.1% |
| 9 | PT Semen Indonesia (Persero) | 3.1% |
| 10 | PT United Tractors Tbk | 3.0% |
What is the base currency of the fund?
The fund is denominated in USD.
What is the minimum amount of investment?
The minimum amount is $10,000.
Is the product capital guaranteed?
No. The fund is subject to the usual investment risks.
When is the NAV Pricing done?
The NAV pricing is done daily.
Is the fund UCITs qualifying?
Yes.
Which institution will be safeguarding the fund (custodian)?
Custody will be done through counterparts of SBM Capital Markets.
Is the fund Shariah Compliant?
Yes. The fund follows guidelines as per Shariah law and is advised by renowned Shariah Advisers.
Who are the Shariah Advisers appointed by the fund?
Shariah Advisers include:
1. Sheikh Professor Dr. Yousef Abdullah Al Shubaily Professor, Comparative Jurisprudence Department, High Institute of Judiciary, Imam Muhammad bin Saud Islamic University, Kingdom of Saudi Arabia.
2. Associate Professor Dr. Aishath Muneeza, Associate Professor, International Centre for Education in Islamic Finance (INCEIF), Malaysia. She is also the chairperson of Maldives Centre for Islamic Finance.
APPLICATION PROCESS:
How do I make an application?
Applications can be made by filling up forms available at any SBM branch.
How do I redeem my investments?
Same is available together with the application forms.
What are the fees involved?
There is only an entry fee of 1.5% and no exit fee.
In how many days do I get my funds if I want to exit?
As the NAV pricing is done daily, settlement can be done at t+3.
If I have MUR, how do I invest in the USD denominated fund?
The SBM Capital Markets team will assist in the conversion of currency in line with the client.
CIMB-PRINCIPAL Global Sukuk Fund
What is a sukuk?
A sukuk is an Islamic financial certificate that complies with Shariah, or Islamic religious law. Since the traditional Western interest-paying bond structure is not permissible under Shariah laws, the issuer of a sukuk sells an investor group a certificate, and then uses the proceeds to purchase an asset, of which the investor group has partial ownership.
How is it different from conventional bonds?
Islamic law prohibits, among other things, structures that bear or charge interests. Thus, a sukuk uses the concept of asset monetization instead. Sukuks are backed by tangible assets, rather than by debt. Sukuk ownership indicates ownership of an asset that has value.
Who are the main issuers of sukuk bonds?
In the open primary sukuk market, sovereign issuers dominate with more than 50 percent share, other issuers include nonfinancial corporate issuers and quasi-sovereign institutions.
Why are sukuk increasingly popular?
Sukuk provides a viable alternative to mobilising long term savings and investment from Islamic investors as well as providing a liquidity management.
What is the Global Sukuk Fund?
The Global Sukuk Fund seeks to maximise total returns over the medium to long-term through a combination of capital growth and income by investing primarily in Shariah-compliant fixed-income securities (sukuk) issued by entities based mainly in the Middle East and Asia.
What does the fund consist of?
The fund consists of a mix of high-rated and speculative sukuks with the top three country allocation being United Arab Emirates (42.6%), Saudi Arabia (16.5%), and Indonesia (14.2%) amongst others.
What are the top 10 holdings of the fund?
| 1 | EMG Sukuk Ltd 6.2% | 6.2% |
| 2 | DIB Sukuk Ltd | 4.9% |
| 3 | AHB Sukuk Co Ltd | 4.4% |
| 4 | KSA Sukuk Ltd | 4.3% |
| 5 | FAB Sukuk Co Ltd | 4.3% |
| 6 | WARBA Tier 1 Sukuk Ltd | 3.7% |
| 7 | Perusahaan Penerbit Sbsn Indonesia III | 3.7% |
| 8 | DP World Crescent Ltd | 3.7% |
| 9 | Quantum Solar Park Semenanjung SDN BND | 3.2% |
| 10 | Perusahaan Penerbit SBSN Indonesia III | 3.1% |
What is the performance of the fund?
| Calendar Year Performance % | |||||
|---|---|---|---|---|---|
| 2018 | 2017 | 2016 | 2015 | 2014 | |
| Fund Net | -0.95 | 4.06 | - | - | - |
What is the base currency of the fund?
The fund is denominated in USD.
What is the minimum amount of investment?
The minimum amount is $1,000.
Is the product capital guaranteed?
No. The fund is subject to the usual investment risks.
When is the NAV Pricing done?
The NAV pricing is done daily.
Is the fund UCITs qualifying?
Yes.
Which institution will be safeguarding the fund (custodian)?
Custody will be done through counterparts of SBM Capital Markets.
Is the fund Shariah Compliant?
Yes. The fund follows guidelines as per Shariah law and is advised by renowned Shariah Advisers.
Who are the Shariah Advisers appointed by the fund?
Shariah Advisers include:
1. Sheikh Professor Dr. Yousef Abdullah Al Shubaily Professor, Comparative Jurisprudence Department, High Institute of Judiciary, Imam Muhammad bin Saud Islamic University, Kingdom of Saudi Arabia.
2. Associate Professor Dr. Aishath Muneeza, Associate Professor, International Centre for Education in Islamic Finance (INCEIF), Malaysia. She is also the chairperson of Maldives Centre for Islamic Finance.
APPLICATION PROCESS:
How do I make an application?
Applications can be made by filling up forms available at any SBM branch.
How do I redeem my investments?
Same is available together with the application forms.
What are the fees involved?
There is only an entry fee of 1.5% with no exit fee.
In how many days do I get my funds if I want to exit?
As the NAV pricing is done daily, settlement can be done at t+3.
If I have MUR, how do I invest in the USD denominated fund?
SBM Capital Market will assist in the conversion of currency in line with the client.