Weekly Market Update - 27 July 2015

Dated 27-07-2015


Market Outlook


 Equity Market Outlook

  • We expect local market to trade sideways.
 
  • A number of undervalued export-oriented stocks have been rerated upwards recently. We expect this trend to continue. This should work in favour of the performance of our funds.
 
  • We maintain bottom-up stock picking strategy for our funds.


Fixed Income Outlook
 
  • The Malaysian Government Securities (MGS) market traded stronger last week, rallying 2-9 bps over the week. The curve steepened, with short end bonds seeing more demand than long tenured bonds. In general, there was better trading sentiment for the sovereign market, which was also assisted by the poor performance in the equity market.
 
  • Foreign reserves fell 4.7% over the last month and; now stand at USD100.5 billion, the lowest level in 5 years. We have seen Bank Negara supporting the ringgit at current levels and thus we think the ringgit will remain stable at its current level in the near term.


Fund

 
% Growth MYR
31/12/14
to 24
/7/15
24/7/14
to 24
/7/15
24/7/12
to 24
/7/15
24/7/10 to 24/7/15 24/7/05
to 24
/7/15
YTD 1 Yr 3 Yrs 5 Yrs 10 Yrs
Hong Leong Growth Fund 8.47 4.78 30.57 43.33 94.78
Hong Leong Penny Stock Fund 18.43 13.32 43.64 74.49 166.81
Hong Leong Consumer Products Sector Fund 9.36 -2.05 19.64 67.27 220.80
Hong Leong Dana Makmur 13.47 7.05 22.43 51.46 106.25
Hong Leong Dividend Fund 6.62 1.00 20.86 53.85 100.99
Hong Leong Asia-Pacific Infrastructure Fund 4.40 -1.06 6.12 -0.59 -
Hong Leong Asia-Pacific Dividend Fund 3.16 -2.21 7.58 6.21 -
Hong Leong Hong Kong Equity Optimizer Fund 9.22 -3.78 32.33 - -
Hong Leong Balanced Fund 13.34 10.18 25.31 49.51 118.21
Hong Leong Dana Maa'rof 9.23 5.23 15.91 34.62 118.03
Hong Leong Strategic Fund 3.57 -0.09 20.71 36.42 129.11
Hong Leong Bond Fund 2.63 4.66 9.46 21.14 54.76
Hong Leong Wholesale Bond Fund 3.12 4.96 - - -
Hong Leong Global Bond Fund -1.15 -3.72 6.49 19.32 -
Hong Leong Asia-Pacific Income Plus Fund 1.54 2.01 5.90 - -
Hong Leong Institutional Bond Fund 2.72 4.20 10.01 18.53 -
Hong Leong Islamic Income Management Fund 1.95 3.33 8.76 15.09 -
Hong Leong Income Management Fund 2.09 3.60 9.98 16.31 -
Hong Leong Islamic Cash Management Fund 1.84 3.27 - - -
Hong Leong Islamic Institutional Income Management Fund II 1.88 3.28 - - -
Source: Lipper for Investment Management, as at 24 July 2015





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