Weekly Market Update - 24 August 2015

Dated 24-08-2015


Market Outlook


Equity Market Outlook

 
  • Market continued to see heightened volatility due to uncertainties surrounding a number of issues such as the expected Fed rate hike, falling commodity prices and China devaluation fears.
 
  • For funds with regional exposure, we adopted a more defensive portfolio position.
 
  • Meanwhile for funds with local exposure, we maintained the bottom-up stock picking strategy.
 
Fixed Income Outlook
 
  • The bond market traded lower on poor sentiment precipitated by the weak ringgit and the global equity rout. Yields across the sovereign curve rose, with the long end hit the worse. The 10-year benchmark rose 15 bps whilst the 20-year rose 20 bps. We foresee currency volatility ahead due to the uncertainty in the Asian emerging markets.
 
  • July inflation rose to 3.3%, better than the expected 2.9%. We think this some of this inflation has been imported due to the severely weak ringgit. 



Fund

 
% Growth MYR
31/12/14
to 21
/8/15
21/8/14
to 
21/8/15
21/8/12
to 
21/8/15
21/8/10
to 21/8/15
21/8/05
to 
21/8/15
YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs
Hong Leong Growth Fund 0.67 -2.86 19.68 31.50 83.43
Hong Leong Penny Stock Fund 9.08 3.43 29.65 58.45 149.26
Hong Leong Consumer Products Sector Fund 4.68 -6.00 10.51 57.73 197.73
Hong Leong Dana Makmur 4.99 -0.20 12.10 41.62 90.63
Hong Leong Dividend Fund 0.61 -6.37 12.51 42.06 91.26
Hong Leong Asia-Pacific Infrastructure Fund -0.68 -5.05 -3.48 -6.21 -
Hong Leong Asia-Pacific Dividend Fund -5.66 -10.85 -4.38 -1.46 -
Hong Leong Hong Kong Equity Optimizer Fund 5.48 -5.66 21.84 - -
Hong Leong Balanced Fund 7.02 2.76 16.81 40.32 107.11
Hong Leong Dana Maa'rof 3.54 0.13 8.81 29.12 105.94
Hong Leong Strategic Fund -4.18 -8.41 10.90 25.00 112.55
Hong Leong Bond Fund 2.35 3.60 9.57 20.69 53.97
Hong Leong Wholesale Bond Fund 2.56 3.90 - - -
Hong Leong Global Bond Fund -8.86 -11.53 -4.60 7.90 -
Hong Leong Asia-Pacific Income Plus Fund 0.01 0.67 3.95 - -
Hong Leong Institutional Bond Fund 2.32 3.39 9.73 17.81 -
Hong Leong Islamic Income Management Fund 1.99 3.06 8.65 14.91 -
Hong Leong Income Management Fund 2.36 3.63 10.07 16.41 -
Hong Leong Islamic Cash Management Fund 2.07 3.26 - - -
Hong Leong Islamic Institutional Income Management Fund II 2.13 3.31 - - -
Source: Lipper for Investment Management, as at 21 August 2015




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