1Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital CompanyPerformance Track Record Summary – IJ LancasterFor illustrative purposes onlyManaged Funds 28 Feb 2002 – 18 April 2013Source: Lipper, FTSE, Legis / Date: 18 April 2013This document includes performance data for the following funds:1 - AV-UKIOF - Aviva Investors UK Income Opportunities Fund (OEIC)2 - INS-UKSFG – INSYNERGY UK Shariah Growth Fund (OEIC)3 - SB Fund - Stockbridge UK Long-Short Small-Midcap Hedge Fund4 - WSF-RGSGF – Reliance Global Shariah Growth Fund (OIEC) i-class5 - WIOF-CPF - China Performance Fund (OIEC) i-class050100150200250Feb-02Jul-02Dec-02May-03Oct-03Mar-04Aug-04Jan-05Jun-05Nov-05Apr-06Sep-06Feb-07Jul-07Dec-07May-08Oct-08Mar-09Aug-09Jan-10Jun-10Nov-10Apr-11Sep-11Feb-12Jul-12Dec-12AV-UKIOF INS-UKSGF SB FundWSF-RGSGF WIOF-CPF Net WIOF-CPF GrossAll Period Annual Annual Annual AnnualReturn Total Absolute Relative IR SharpeAV-UKIOF 110.8% 14.3% 4.9% 1.37 1.11INS-UKSGF 27.3% 23.5% 0.2% 0.00 1.85SB Fund 30.4% 19.4% 8.7% n/a 2.87WSF-RGSGF 47.3% 15.5% 2.4% 0.91 1.44WIOF-CPF Net 6.6% 5.2% 3.4% 0.68 0.64WIOF-CPF Gross 10.1% 8.8% 7.0% 1.08 1.06Average 14.5% 4.4% 0.81 1.49
2Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital Company1 - AV-UKIOF - Aviva Investors UK Income Opportunities Fund (OEIC)Fund Profile and Performance OverviewThe Norwich UK Income Opportunities fund was a sub-fund ofthe Norwich Union ICVC (OEIC). The fund aimed to achieve aconsistently high level of income, with capital growth, throughinvestment in a diversified portfolio of UK equities, principallywithin small and mid cap indices. The fund transferred to MorleyFund Management in June 2006, and was renamed to theNorwich UK Income Opportunities fund in September 2006. Arigorous and structured investment process combined bothfundamental research and a proprietary quantitative analysisand valuation model. The fund was managed by Ian Lancasterover the period February 2002 to September 2007.For illustrative purposes onlyFund Performance 28 Feb 2002 – 28 Sept 2007Source: Lipper, FTSE extracted as at 12 June 2012Monthly Analysis 28 Feb 2002 – 28 Sept 2007Source: Lipper, FTSE extracted as at 12 June 2012Annualised UKIOF BenchmarkReturn 14.3% 9.0%Volatility 12.9% 12.7%Alpha 5.3%Relative Return 4.9%Sharpe 1.11 0.71IR 0.47TE 6.9%Months 67.0 67.0Years 5.6 5.6050100150200250Feb-02May-02Aug-02Nov-02Feb-03May-03Aug-03Nov-03Feb-04May-04Aug-04Nov-04Feb-05May-05Aug-05Nov-05Feb-06May-06Aug-06Nov-06Feb-07May-07Aug-07Aviva Inv - UK IncomeOpportunities TR in GB FTSE All-ShareTR-15.0%-10.0%-5.0%0.0%5.0%10.0%15.0%1-Mar-021-Jun-021-Sep-021-Dec-021-Mar-031-Jun-031-Sep-031-Dec-031-Mar-041-Jun-041-Sep-041-Dec-041-Mar-051-Jun-051-Sep-051-Dec-051-Mar-061-Jun-061-Sep-061-Dec-061-Mar-071-Jun-071-Sep-07Aviva Inv - UK IncomeOpportunities TR in GB FTSE All-ShareTR
3Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital Company2 - INS-UKSFG – INSYNERGY UK Shariah Growth Fund (OEIC)Fund Profile and Performance OverviewThe INSYNERGY UK Shariah Growth fund was launched inOctober 2008 in partnership with Islamic investment bank GulfFinance House and INSYNEGY Investment Management. Thefund aimed to achieve a consistently high level of capital growth,through investment in a diversified portfolio of Shariah-compliant UK equities. The investment strategy built on anddeveloped the disciplined quantitative analysis and valuationmodels used by Ian Lancaster whilst managing the AviviaInvestors UK Income Opportunities OIEC. The fund was managedby Ian Lancaster, assisted by Paul Bethell for the period October2008 to November 2009.For illustrative purposes onlyFund Performance 31 Oct 2008 – 27 Nov 2009Source: Lipper, Standard & Poor’s, the process of closing the fund began on the 1 Nov 2009 before final closure on the 27 Nov 2009.Data extracted as at 12 June 2012Monthly Analysis 31 Oct 2008 – 27 Nov 2009Source: Lipper, Standard & Poor’s, the process of closing the fund began on the 1 Nov 2009 before final closure on the 27 Nov 2009.Data extracted as at 12 June 2012Annualised INS-UKSGF BenchmarkReturn 23.5% 23.3%Volatility 12.7% 14.1%Alpha 0.2%Relative Return 0.2%Sharpe 1.85 1.66IR 0.00Tracking Error 5.0%Months 12.0 12.0Years 1.0 1.080.090.0100.0110.0120.0130.0140.0INS-UKSGF S&P UK Shariah TR (GBP)-6.0%-4.0%-2.0%0.0%2.0%4.0%6.0%8.0%Nov-08 Dec-08 Jan-09 Feb-09 Mar-09 Apr-09 May-09 Jun-09 Jul-09 Aug-09 Sep-09 Oct-09INS-UKSGF S&P UK Shariah TR (GBP)
4Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital Company3 - SB Fund - UK Long-Short Small-Midcap Hedge FundFund Profile and Performance OverviewThe Stockbridge fund targeted capital growth at low levels ofvolatility. The investment universe, comprising the FTSE 250and FTSE Small Cap indices, was filtered using a proprietaryquantitative model based on an extension of the approachemployed in the management of the UK IncomeOpportunities OEIC. The fund targeted annualised returns ofbetween 10-12 percent via a diversified portfolio of ~50-60stocks. Market risk was mitigated via short positions, withmarket exposure averaging ~35 percent of NAV. The fund wasmanaged by Ian Lancaster for the period Sept 2004 to March2006.For illustrative purposes onlyFund Performance and Statistics 30 Sept 2004 – 31 March 2006Source: Lipper, FTSE extracted as at 12 June 2012Monthly Analysis 30 Sept 2004 – 31 March 2006Source: Lipper extracted as at 12 June 2012Total Return 30.4% 16.4%Annualised Return 19.4% 10.7%Volatility 5.2% 4.0%Excess Return 8.7%Relative 7.9%Sharpe 2.9 1.5Sortino Ratio 5.2 1.6Annualised Alpha 10.0%9095100105110115120125130135SB Fund 250 / Smallcap 50:50 Mix Beta Net AdjPerformance SB Fund BenchmarkMthly Return Geo 1.5% 0.8%-ve Deviation 0.3% 0.5%Average +ve 1.9% 1.3%Average -ve -0.7% -1.2%+ve months 15 15-ve months 3 3% +ve months 83% 83%Max mthly loss -1.0% -1.6%Months 18.0 18.0Years 1.5 1.5-3.0%-2.0%-1.0%0.0%1.0%2.0%3.0%4.0%5.0%6.0%BetaAlpha
5Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital CompanyStockbridge – UK Long-Short Small-Midcap Hedge FundMonthly Gross & Beta Adjusted Net 30 Sept 2004 – 31 March 2006Source: Lipper, FTSE extracted as at 12 June 20120%20%40%60%80%100%120%140%160%180%200%0%10%20%30%40%50%60%70%Beta Adj Net Gross (RHS)
6Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital Company4 - WSF-RGSGF – Reliance Global Shariah Growth Fund (OIEC) i-classFund Profile and Performance OverviewThe WSF Reliance Global Shariah Growth Fund aims to achievelong-term capital growth via a portfolio of actively managedShariah-compliant equities, which may be located in anyjurisdiction or in any economic sector and quoted on aRecognised Stock Exchange. The fund applies a disciplinedinvestment methodology called ‘Cognition’. The fund waslaunched on the 17 August 2010 – this factsheet presentssimulated performance data prior to this date. The fund ismanaged by Ian Lancaster, assisted by Paul Bethell.For illustrative purposes onlySimulated and Actual Fund Performance 31 Jan 1997 – 16 April 2013Source: Legis, Standard & Poor’s, Reliance Asset Management Malaysia Sdn. Bhd as at 16 April 2013Actual Fund Performance since Launch 17 August 2010 – 16 April 2013Source: Legis, Standard & Poor’s, Reliance Asset Management Malaysia Sdn. Bhd., Data as at 16 April 20130100200300400500600Jan-97Jan-98Jan-99Jan-00Jan-01Jan-02Jan-03Jan-04Jan-05Jan-06Jan-07Jan-08Jan-09Jan-10Jan-11Jan-12Jan-13RGSGF S&P Developed BMI Shariah USD TRAnnualised RGSGF BenchmarkReturn 10.9% 5.9%Volatility 16.6% 16.6%Alpha 5.0%Relative Return 4.7%Sharpe 0.66 0.36IR 1.11TE 4.2%Months 195.0 195.0Years 16.3 16.390100110120130140150160Aug-10Nov-10Feb-11May-11Aug-11Nov-11Feb-12May-12Aug-12Nov-12Feb-13RGSGF S&P Developed BMI Shariah USD TRAnnualised RGSGF BenchmarkReturn 15.5% 12.7%Volatility 10.7% 11.4%Alpha 2.7%Relative Return 2.4%Sharpe 1.44 1.12IR 0.91TE 2.4%Years 2.7 2.7Key DataManagerShariah AdvisorFocusCustodianBenchmarkInception DateBloombergSEDOLFund ManagerVP InvestmentS&P Developed BMI ShariahStatestreet TrusteesArgyll Inv Services Ltd.CIMB Islamic Bank Bhd.Global17-Aug-10WLRGSIU GUB4Q85X3Ian LancasterPaul BethellSimulated Actual
7Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital Company5 - WIOF- CPF – China Performance Fund (OIEC) i-classFund Profile and Performance OverviewThe WSF Reliance Global Shariah Growth Fund aims to achievelong-term capital growth via a portfolio of actively managedShariah-compliant equities within the China and Hong KongShariah index. The fund applies a derivation of the disciplinedinvestment methodology called ‘Cognition’. Management of thefund was taken over on 11 May 2012 – this factsheet presentsactual performance from this date. The fund is managed by IanLancaster, assisted by Paul Bethell.For illustrative purposes onlyActual Fund Performance 11 May 2012 – 18 April 2013Source: Legis, Standard & Poor’s, Reliance Asset Management Malaysia Sdn. Bhd., Data as at 18 April 2013Actual Fund Performance 11 May 2012 – 18 April 2013‘CPF Gross’ performance has been calculated afteradding back the guaranteed annual maximum TotalExpense Ratio (TER) of 4.25% on a monthlyfrequency to the NAV performance. This adjustmentserves to better illustrate the underlyingperformance of the fund.Source: Legis, Standard & Poor’s, Reliance Asset Management Malaysia Sdn. Bhd., Data as at 18 April 2013Key DataManagerShariah AdvisorFocusCustodianBenchmarkInception DateBloombergSEDOLFund ManagerAssistant FMBMI HK/China Shariah USDCasa4Funds S.A.CIMB Islamic Bank Bhd.ChinaKBL Europe PB S.A.11-May-12WIOCIPI LXB7V0GG5Ian LancasterPaul Bethell859095100105110115120May-12May-12Jun-12Jun-12Jul-12Jul-12Aug-12Aug-12Aug-12Sep-12Sep-12Oct-12Oct-12Nov-12Nov-12Dec-12Dec-12Jan-13Jan-13Feb-13Feb-13Mar-13Mar-13Mar-13Apr-13CPF Net S&P BMI HK & China Shariah NTR (USD) CPF GrossAnnualised CPF Net CPF Gross BenchmarkReturn 5.2% 8.8% 1.7%Volatility 8.1% 8.3% 10.4%Alpha 3.5% 7.1%Relative Return 3.4% 7.0%Sharpe 0.64 1.06 0.16IR 0.68 1.08TE 4.8% 8.3%Years 0.94 0.94 0.94
8Reliance Asset Management (Malaysia) Sdn. Bhd.A Reliance Capital CompanyDisclaimerThis presentation has been prepared by Reliance Asset Management (Malaysia) Sdn Bhd (“RAMMy”) and is solely forinformation only. It may not be copied, published, circulated, reproduced or distributed in whole or part to any person withoutthe prior written consent of RAMMy. In preparing this presentation, RAMMy has relied upon and assumed the accuracy andcompleteness of all information available from public sources or which was otherwise reviewed by RAMMy. Accordingly, whilstwe have taken all reasonable care to ensure that the information contained in this presentation is not untrue or misleading atthe time of publication, we cannot guarantee its accuracy or completeness and make no representation or warranty (whetherexpress or implied) and accept no responsibility or liability for its accuracy or completeness. You should not act on theinformation contained in this presentation without first independently verifying its contents.Any opinion, management forecast or estimate contained in this presentation is based on information available as at the date ofthis presentation and reflects prevailing conditions and our views as of the date of this presentation, all of which are subject tochange at any time without notice. Such opinions, forecasts and estimates as well as the information contained herein relating tothe historical performance of various indices is for information only and is not indicative of the future or likely performance of aninvestment portfolio and should not be construed as such. RAMMy and its related and affiliated corporations together withtheir respective directors and officers may have or may take positions in the investments mentioned in this presentation andmay also perform or seek to perform broking and other investment services for the corporations whose securities are mentionedin this presentation as well as other parties. This presentation is not an offer or solicitation by anyone in any jurisdictions or toany person to whom or to which it is unlawful to make such an offer or solicitation.The historical performances presented are not indicative of the future or likely performance of an investment portfolio andshould not be construed as being indicative of or otherwise used as a proxy for future or likely performance of the investmentportfolio. The price of units and distributions payable, if any, may go down as well as up.Risk StatementThese are some of the major risks of investments a potential investor should consider carefully. Our strategy is not intended as acomplete investment programme. The risks include but not limited to investment risk, stock specific risk, sector risk, country risk,currency risk, liquidity risk and risk of Shariah non-compliance.There is also a potential conflicts of interest risk: -i) ManagementRAMMy provides management services to other clients. The investment strategies employed for other investment fundscould conflict with the investment fund/portfolio employing the Strategy outlined in this presentation. This may affect theprices and availability of the investments in which the fund/portfolio using the said Strategy. RAMMy has policies in placewhere participation in investment opportunities will be allocated on an equitable basis, taking into account such factors asthe relative amounts of capital available for new investments, relative exposure to short-term market trends, and therespective investment policies of other investment portfolios.ii) RAMMy, Custodian, Administrator, Shariah AdvisorRAMMy, its officers, employees or associates, and the Custodian, Administrator and the Shariah Advisor may from time totime provide services to, or be involved with, other investment fund/ portfolios established by parties other than RAMMywhich may have similar objectives to those of the investment fund/portfolio employing the said Strategy. As such, it ispossible that any of them may, in the course of business, have potential conflicts of interest with the investmentfund/portfolio using the Strategy. However, the Custodian, Administrator and Shariah Advisor will, at all times, uphold itsobligation to act in the best interests of the investment fund/portfolio and RAMMy will ensure that all such potentialconflicts of interest are resolved fairly and in the interests of investors/clients.