This document provides a summary of a fund's performance and strategy. It had a year-to-date return of 1,849% and aims to balance risk and reward through a risk-weighted portfolio approach. The fund update notes that the Jakarta Composite Index continued to decline in June due to losses in banking, property, and plantation stocks. Foreign investors have been pulling money out of Indonesian markets due to concerns over emerging markets and protectionism. Meanwhile, inflation remains under control in Indonesia.
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Fund Fact Sheet Flexi Plus Juni 2018
1. 6 month
11.99%
YTD
1,849
Fund Objectives & Strategy
To equalize Risk Reward variants through the application of risk
weighted portfolio approach whilst optimizing peripheral trades to
achieve long-term capital & value enhancement traits. Approach
is methodically implemented to obtain sustainable increments in
Stock valuation.
Multi–Trade/Monetization Spectrum
Emphasis on Sectoral & Rotational Trade Strategies
Tactically Balancing Growth, Capital Appreciation Vs Volatility
Fund Update
JCI continued to extend losses in June, down -3.1% MoM and stretched lower 8led by
banking, property, and plantation stocks while infra stocks was t.8% YTD but relative-
ly still flat -0.5% yoy. Almost all sectors experienced negative monthly performance in
June he only sector that managed to print positive return of 2.8% MoM. JCI has been
in negative monthly return since February 2018, in line with rupiah depreciation. In
June, rupiah weakened 3.1% MoM/5.6% YTD against USD to Rp14,330/USD, the
lowest level since September 2015. Recent rupiah depreciation is more due to external
factor than domestic factor.
Trump protectionism has led global fund to risk-off EM (emerging market) assets and
prefer dollar/yen as safe haven. Foreign outflow from Indo equity market was record-
ed at Rp9.3 tln in June while from Indo bond market was Rp4.4 tln. Cumulatively since
beginning of the year, foreign investors made Rp49.9 tln outflow in Indo equity and
Rp13.0 tln in Indo bond market. Indo 10 year bond yield spiked up by 74 bps to 7.8%.
Foreign ownership in Indo bond market declined to 37.8% in June compared to 39.5%
the same period year ago. To regain foreign investor’s confidence in equity and bond
market via stability of rupiah, Bank Indonesia has tuned up policy rate by another 50
bps in June after 50 bps hike done in May, bringing 7DRR (7 day reverse repo rate) at
5.25%. Bank Indonesia has been proactive in stabilizing rupiah through spot market
and government bond market. To bolster growth amid tightening cycle, Bank Indone-
sia has relaxed LTV policy and pre-order credit mechanism in the property sector.
Oil price breaching above USD70/bbl in June, up 10.6% MoM while coal increased
3.9% MoM to USD114/ton. Of all Indonesia’s main commodity export, only palm oil
price which is labor intensive that still posted sluggish performance, -6.0% YTD/-
11.5% YoY compared to nickel that went up 21.6% YTD/60.7% YoY and coal 13.5%
YTD/41.2% YoY.
Meanwhile, June inflation was only 0.6% on monthly basis and 3.1% on annual basis
which marked the lowest inflation rate for the past four years after Ied-ul-Fitr holiday
which was usually rising up on average at 0.8% MoM. Overall inflation remained under
control within BI target range of 3.5%±1%.
12 month
8.09%
Sector Allocation (%)
NAV Growth
HPAM FLEXI PLUS
NAV
11.99%
Launch Date 18/07/2011
AUM (Rp Bn) 217
Number of Stocks 13-30
Beta 1.2
Investment Manager HP Asset Management
Custodian Bank Bank Rakyat Indonesia
Subscription Account 0206-01-005342-30-6
Subscription Fee ≤2%
Redemption Fee ≤5%
Investment Policy
Equity ≤79%
Cash & Cash Eq ≤79%
Money Market ≤79%
Portfolio Composite
Equity 90%
Fixed Income 6%
Money Market 4%
Risk Ranking Moderate to High
Fund Performance
Tactical Allocation
NEUTRAL OVERWEIGHT
JUNE 2018
Fund Rating :
2. Important Risk: The fund is actively managed and its characteristics w ill vary. Holdings show n should not be deemed as a recommendation
to buy or sell securities. Fund of funds is subject to the risk associated with the underlying HPAM funds in which its invests. Stock and bond value fluctuate
in price so the value of your investment can go down depending on the market conditions. Fixed income risks include interest-rate and credit risk. Typically,
when interest rates rise, there is a corresponding decline in bond values. Credit risk refer to the possibility that the bond issuer will not be able to make
principal and interest payments. Asset allocation strategies do not assure profit and do not protect against loss. Non-diversification of investment means
that more assets are potentially invested in fewer securities than if investments were diversified.
Before investing you should carefully consider the Fund’s investment objectives, risks, charges and expenses. This and other information are available
through request for prospectus or at our company’s website. The fund is subject to market risks (volatility) and may not be appropriate for short term
investments. Holdings and Sector weightings are subject to constant changes without notice as deemed fit by the investment management team. This
document is for sophisticated investor only and not intended for individual private investor. Performance data quoted represent past performance and is no
guarantee of future results. Investment returns and principal values may fluctuate so that an investor’s shares, when redeemed, may be worth more or less
than their original cost. Current performance may be lower or higher than that shown. All return assume reinvestment of all dividend and capital gain distri-
butions. Index performance is shown for illustrative purpose only. Conventional Non-bank institutions are prohibited from investing directly in index.
Disclaimer
Value @ Risk Matrix
Intrinsics Assessment Table
PT. Henan Putihrai Asset Management
Penthouse @ Tamara, Jendral Sudirman 24
Jakarta 12920, Indonesia
(021) 2525775
www.HPAM.co.id