This document summarizes the Fundsupermart.com Recommended Unit Trust Awards 2015. It lists the winning funds in various categories including core equity, bond, and balanced funds. Core equity funds were awarded for global, developed markets, emerging markets, Asia ex-Japan, and Malaysia equity exposures. Bond funds were awarded for short duration Malaysia, Malaysia, and Islamic bond funds. Balanced funds were awarded for Asia ex-Japan, Malaysia, and Islamic balanced funds. Supplementary awards included funds focused on Greater China, Europe, US, global resources, Asia ex-Japan small-mid cap, and bond funds focused on Asia ex-Japan, emerging markets, and global bonds. The event highlights top performing funds based on both quantitative and

1. 13SmartInvestor | 07. 2015 |
Fundsupermart.com
recommended
unit trusts
awards 2015
(From L-R): Mr. Wong Weiyi, General Manager of Fundsupermart Malaysia, Mr. Teng Chee Wai, Managing Director of Asset Management at Affin
Hwang Capital, Elyzza Syazreen Zailan, Fund Manager of Libra Invest Berhad, Mr. Dennis Tan, Managing Director of iFAST Capital Sdn Bhd
Datin Maznah Mahbob, Chief Executive Officer of AmInvest, Mr. Chen Fan Fai, Chief Investment Officer and Country Head, Eastspring Investments
Berhad, Encik Nazaruddin Othman, Chief Executive Officer of Federation of Investment Managers Malaysia (FIMM), Pn. Sheila Halim, Chief Executive
Officer, Amanah Mutual Berhad, Dr. Tan Chong Koay, Founder, Chief Executive Officer and Chief Corporate Development and Strategy, Pheim Unit
Trusts Berhad, Mr. Hoe Cheah How, Chief Investment Officer, RHB Asset Management Sdn Bhd, Mr. Michael Tan, Chief Marketing Officer, CIMB-
Principal Asset Management Berhad, Mr. Wong Mien, Chief Executive Officer, TA Investment Management Berhad, Ms. Lee Sook Yee, Chief Investment
Officer, Kenanga Investors Berhad, Mr. Lee Chee Ming, Head of Sales and Marketing, KAF Investment Funds Berhad, Mr. Raymond Yeung, Head,
Distribution Partners, Maybank Asset Management Sdn Bhd
CONTENTS
14 Organiser’s Message
15 Putting Trusts In Unit Trusts
16 Fund Selection Methodology
17 Winners’List
18 An Attractive Long-term Play
20 Event Highlights
22 Selected Winning Funds
42 Maximising Opportunities in Fixed Income Investments
44 Focused On Diversification
45 Bigger and Better
46 Winning Strategies
47 A Class Above
48 Staying Focused
50 Ahead of the Curve
51 Growing Stronger
52 Identifying Values

2. 14 | SmartInvestor | 07 . 2015
ORGANISER MESSAGE
It has been a rough 2015 for investors in Malaysia. GST was implemented in April
2015 and we have all been impacted by the rising cost of goods and services.
Malaysian ringgit has also suffered one of the worst declines over the past year, further
exaggerating the increases in the prices of imported goods and services. Coupled with
the uncertainties overhanging the rating of our sovereign debts, foreign investors
have been departing from our local capital markets, contributing to the paltry gains in
the KLCI index.
While investment sentiments locally may not be at its best at the moment, it’s not
all gloomy for investors, especially for those who have invested in Unit Trusts helmed
by outstanding fund managers. In this year’s Fundsupermart.com Recommended
Unit Trust Awards, we would like to highlight and applaud the fund managers who
have added value to investors by delivering outstanding performance despite the
tough conditions in the capital markets. This year, 31 unit trusts from 12 unit trust
management companies made it to the Recommended Unit Trusts list.
Our research team had placed 260 unit trusts distributed on our platform through a
rigorous assessment based on both quantitative and qualitative factors before arriving
at 31 unit trusts to recommend to investors. As you can see, the winners come from
different fund houses and so, investors should think about diversifying beyond asset
classes. It is important to think about putting your eggs with different fund houses as
it allows you to take advantage of each fund house’s expertise.
Going forward, the investment landscape is unlikely to be smooth. As we move into
the second half of the year, we have yet to see any catalyst that will be a significant
positive driver to local equity market performance. The political developments may
further keep foreign investors at bay although export-related industries are going
to benefit from the weakened ringgit. Globally, we will still need a resolution to the
Greece issue and the world prepares for the imminent tightening by the US central
bank. This is certainly a time where investors have to rely on distinguished fund
managers and we hope investors will benefit from our Recommended Unit Trusts list.
WongWeiyi
General Manager,
Fundsupermart
Malaysia
Dear readers,
Fundsupermart.com Recommended Unit Trusts Awards 2015

3. PUTTING TRUST IN UNIT TRUSTS
15SmartInvestor | 07. 2015 |
PuttingTrust in UnitTrusts
Taking the plunge into unit trust investments, especially for newcomers, can be a
daunting task. Fundsupermart’s Recommended Unit Trusts Awards, while giving
good performing funds their due recognition also offers an invaluable guide for
investors in making an informed decision. By Tony Goh
M
utual funds, or unit trust
funds as they are commonly
referred to in Malaysia, have
been showing a remarkable growth
rate in concert with the bullish equity
market performance for much of the
last decade. In fact, during the past two
decades, the segment has been one of
the fastest growing within Malaysia’s
finance industry and is today a strong
component of the domestic capital
market.
In a nutshell, there are about 36
unit trust management companies
managing 614 funds including 428
conventional and 186 shariah based
funds with 17.556 million account
holders as of 31st March 2015. The fund
size is at RM362.58 billion in net asset
value (NAV) representing 20.87% of
NAV to Bursa Malaysia’s total market
capitalisation.
For the last seven years,
Fundsupermart Malaysia, which helped
to pioneer the online trade of unit trusts
via its Fundsupermart.com platform, has
been conducting the Recommended
Fund Awards with the twin aim of
rewarding above average performing
funds and fund houses to inspire
confidence.
Mutual funds, according to Wong
Weiyi, General Manager, Fundsupermart
Malaysia, have several attractive
characteristics that make them choice
investment options, including a low
entry level of around RM1000 with
subsequent investments for as low as
RM100. They are relatively liquid as
buying and selling can be concluded on
any business day.
For the less savvy investors, the key
to successful long-term investment with
unit trusts is picking the right funds
given the variety of products available in
the market, said Wong.
Noting that many of the fund houses
here are established names known to
the public with decent track records,
Wong added that Fundsupermart’s
annual awards for best performing
funds’main aim is to provide valuable
information and guidance for investors,
especially the less sophisticated ones, to
make investment decisions.
“Akin to a new customer walking
into a restaurant for a first time,
choosing the right menu may not be
easy, and the safest option is to look
for dishes highlighted as the chef’s
recommendations. Similarly, with
more than 200 funds available on
Fundsupermart.com Recommended Unit Trusts Awards 2015

4. 16 | SmartInvestor | 07 . 2015
PUTTING TRUST IN UNIT TRUSTS
PERFORMANCE
The most objective way to determine the quality of the fund manager
is to assess the fund’s historical performance, a factor we weigh
heavily in our fund selection exercise. For this, we consider both the
magnitude of performance as well as the consistency of returns.
In the case of new funds which feed into their overseas target
funds with a longer track record, we may assess the target fund’s
performance. We recommend funds which have at least a 3-year track
record.
EXPENSE RATIO
The expense ratio is what investors pay for the management of their
fund on an annual basis. This charge is deducted from the value of the
unit trust, and it takes into account all the operating expenses that
a fund incurs, including its annual management fee, administration
costs as well as trustee and custodian fees.
Generally speaking, the lower the expense ratio, the better it is for
you, because you are incurring less costs.
RISK
Instead of purely using standard deviation as the measure of risk, we
believe that it is more appropriate to focus on how well a fund holds
up during periods when the relevant markets saw substantial decline.
As such, in our assessment of risk, we focus on the maximum decline
of a fund over a given period, and also incorporate a measure of
downside volatility, which tells us how volatile a fund is over periods
when it is los¬ing value.
BOND FUNDS
Equity funds usually track well-known stock market benchmarks,
making it easier to compare funds invested in a similar region or
country. Bond funds are
less comparable, given
their differentiated focus
on credit, country selection,
currency and duration. To
reflect the emphasis on
stability in fixed income
investments, we assign
different weightings to
the three quantitative
parameters as shown below.
OTHER QUALITATIVE
CRITERIA
In addition to looking at
the above-mentioned
qualitative parameters,
we also consider other
qualitative factors in our
analysis, including the fund
manager’s consistency in
their investment approach,
the departure of key
personnel as well as the
stability of the management team. We also incorporate our outlook
on the fixed income market to assess the merits and disadvantages of
a bond fund.
As most of the funds which invest in other regions buy
companies that predominantly have their assets and earning streams
denominated in foreign currencies, there is currency risk involved.
A gain in the MYR against another currency may reduce the returns
of the funds exposed to other currencies, while a drop in the MYR
against other currencies would increase the returns. Thus, qualitative
analysis is a necessary step to distinguish funds with superior
management ability from those which were beneficiaries of strong
market or currency movements.
As we take into account the qualitative factors, the highest-scoring
fund based on quantitative assessment in a particular category
may not necessarily be the fund we recommend, although fund
performance remains a significant factor.
METHODOLOgy
FUND NAME EQUITFUND NAME EQUITy FUND BALANCED FUND BOND FUNDFUND BALANCED FUND BOND FUNDFUND BALANCED FUND BOND FUND
Performance 60%Performance 60% 60% 40%
Expense Ratio 20%Expense Ratio 20% 20% 30%
Risk 20% 20% 30%
WEIgHTAgE OF QUANTITATIVE PARAMETERS
SOURCE: FUNDSUPERMART COMPILATIONS
our platform, a newcomer may find it
daunting to pick funds that suit his or her
investment aims and risk appetite.
“When we recommend funds, or
pick our winners for the recommended
fund awards, we look at performance,
expenses (fees and other charges
involved) and risk of the fund. Most
people just focus on performance, but
when markets go through short-term
turbulence they may be in for a shock,”
said Wong.
On the effectiveness of the
recommended fund awards in boosting
up the number of new investors into unit
trust investments, Wong said funds that
made it into the recommended fund
categories do have noticeable increase in
investors.“This is mainly because we tend
to feature these funds more in our write-
ups and when clients seek our advice on
what fund to invest,”said Wong.
Moving forward, Wong said
Fundsupermart Malaysia is looking
to expand its products and services
via its online platform, riding on the
increasing trend especially among the
younger generations who go online for
transactions.
“We hope to make some
announcements before the end of this
year on what are the new services that we
will offer, besides the tremendous growth
potential in unit trusts, as we believe the
Malaysian market still has plenty of room
to grow,”said Wong.
Fundsupermart.com Recommended Unit Trusts Awards 2015

5. 17SmartInvestor | 07. 2015 |
Category Recommended Unit Trusts 2015/16
Award Category Fund
Core Equity
Core Equity - Global Eastspring Investments Global Leaders MY Fund Eastspring Investments BerhadEastspring Investments Global Leaders MY Fund Eastspring Investments Berhad
Core Equity - Developed Markets CIMB-Principal Global Titans Fund CIMB-Principal Asset Management Berhad
Core Equity - Global Emerging Markets Eastspring Investments Global Emerging MarketsCore Equity - Global Emerging Markets Eastspring Investments Global Emerging Markets
Fund
Eastspring Investments Berhad
Core Equity - Asia ex-Japan CIMB-Principal Asia Pacific Dynamic Income Fund CIMB-Principal Asset Management BerhadCIMB-Principal Asia Pacific Dynamic Income Fund CIMB-Principal Asset Management Berhad
Core Equity - Asia ex-Japan AmAsia Pacific Equity Income AmInvestment Services Berhad
Core Equity - Asia ex-Japan (Islamic) Pheim Asia Ex-Japan Islamic FundCore Equity - Asia ex-Japan (Islamic) Pheim Asia Ex-Japan Islamic Fund Pheim Unit Trusts Berhad
Core Equity - Asia ex-Japan (Islamic) Eastspring Investments Asia Pacific ShariahCore Equity - Asia ex-Japan (Islamic) Eastspring Investments Asia Pacific Shariah
Equity Fund
Eastspring Investments Berhad
Core Equity - Asia ex-Japan (Islamic) CIMB Islamic Asia Pacific Equity FundCore Equity - Asia ex-Japan (Islamic) CIMB Islamic Asia Pacific Equity Fund CIMB-Principal Asset Management Berhad
Core Equity - Malaysia Kenanga Growth Fund Kenanga Investors Berhad
Core Equity - Malaysia Eastspring Investments Equity Income Fund Eastspring Investments BerhadEastspring Investments Equity Income Fund Eastspring Investments Berhad
Core Equity - Malaysia (Islamic) Eastspring Investments Dana al-Ilham Eastspring Investments Berhad
Core Equity - Malaysia (Islamic) Affin Hwang Aiiman Growth Fund Affin Hwang Asset Management Berhad
Bond
Bond - Malaysia (Short Duration) AmIncome Plus AmInvestment Services Berhad
Bond - Malaysia KAF Bond Fund KAF Investment Funds Berhad
Bond - Malaysia Eastspring Investments Bond Fund Eastspring Investments Berhad
Bond - Malaysia (Islamic) AMB Dana Arif Amanah Mutual Berhad
Bond - Malaysia (Islamic) Libra ASnitaBOND Fund Libra Invest Berhad
Balanced
Balanced - Asia ex-Japan RHB-OSK Asian Income Fund RHB Asset Management Sdn Bhd
Balanced - Malaysia Affin Hwang Select Balanced Fund Affin Hwang Asset Management Berhad
Balanced - Malaysia Eastspring Investments Balanced Fund Eastspring Investments Berhad
Balanced - Malaysia (Islamic) Eastspring Investments Dana Dinamik Eastspring Investments Berhad
Balanced - Malaysia (Islamic) Dana Makmur Pheim Pheim Unit Trusts Berhad
Supplementary
Sub Regional Equity - Greater China CIMB-Principal Greater China Equity Fund CIMB-Principal Asset Management BerhadSub Regional Equity - Greater China CIMB-Principal Greater China Equity Fund CIMB-Principal Asset Management BerhadSub Regional Equity - Greater China CIMB-Principal Greater China Equity Fund CIMB-Principal Asset Management Berhad
Sub Regional Equity - Europe TA European Equity Fund TA Investment Management Berhad
Sub Regional Equity - US RHB-OSK-GS US Equity Fund RHB Asset Management Sdn Bhd
Sector Equity - Global Resources AmCommodities Equity AmInvestment Services Berhad
Sector Equity - Asia ex-Japan Small to
Medium Companies
Affin Hwang Select Asia (ex Japan) Quantum
Fund
Affin Hwang Asset Management Berhad
Sector Equity - Malaysia Small to Medium
Companies
Eastspring Investments Small-cap Fund Eastspring Investments Berhad
Bond - Asia ex-Japan RHB-OSK Asian Total Return Fund RHB Asset Management Sdn Bhd
Bond - Emerging Markets RHB-OSK Emerging Markets Bond Fund RHB Asset Management Sdn Bhd
Bond - Global Maybank Global Bond Fund Maybank Asset Management Sdn Bhd
Fundsupermart Recommended
Fund Awards Winners’List
FUND AWARDS WINNERS’LIST
Fundsupermart Recommended
Fundsupermart.com Recommended Unit Trusts Awards 2015

6. 18 | SmartInvestor | 07 . 2015
AN ATTRACTIVE LONG-TERM PLAY
An Attractive Long-term Play
Amid market and economic uncertainties, the unit trust industry as one of the most
popular investment avenues still holds tremendous growth potential, and investment
opportunities are still out there especially if investors look beyond local shores.
By Tony Goh
F
oreign selling on Bursa remained
heavy throughout last month,
making it the 3rd consecutive
month foreign investors had been net
sellers of Malaysian equity.Year-to-date
foreign selling is expected to amount to
RM6.7 billion after foreign investors sold
RM926.1 million last week, according to
MIDF Research.
The research house estimated that
cumulative net foreign outflow in 2015
had reached RM6.7 billion as of end
of last week. This is reaching the same
amount of RM6.9 billion that left the
market in 2014.
In total, the sell down increased the
cumulative net foreign outflow in 2015
to RM7.5bil, surpassing the RM6.9bil
outflow for the entire 2014.“We estimate
that there is still an overhang of about
RM15bil to RM20bil of foreign portfolio
liquidity in Bursa,”according to MIDF.
Such news may be unsettling for
many investors, as the local market goes
through a period of volatility and lacks
fresh catalysts.
However, investors should not be
spooked by the dynamics of market
sentiment and evolving economic
developments and take a broader view
on investment opportunities available in
many other markets that are performing
well, said Fundsupermart Malaysia
General Manager, Wong Weiyi.
“I believe investors should look
outwards, and we like the development
going on in Asia as a whole and we
also favour Japan and China where
the financial reforms and valuation are
attractive. Investors should also keep
diversifying into the US and European
regions, where the strengthening of the
US dollar may provide additional return
potentials.
“On the European side, there is
potential for some surprising economic
upsides given the ongoing quantitative
easing,”said Wong.
On the investment outlook for
Malaysia, Wong acknowledged that
the second half of the year could be a
challenging one, given the myriad of
factors that could affect local market
sentiment, in particular the equity
market.
Besides the above-mentioned
factors, other daunting factors include
the weakening ringgit, weak commodity
prices, the 1MDB sovereign debts issue
with potential rating downgrade for
Malaysia as well as external factors
such as the debt crisis in Greece and
weakening growths in emerging
markets.
But one key factor that could have
a major impact on equity will be the
possible interest rate hikes in the US,
which will drive investors away from
more risky investment assets such as
stocks as risk-free investment returns
become more attractive.
“However, we continue to be
cautiously optimistic about the
opportunities in the local equity market
as there are still pockets of values for
stock pickings to be found in small and
Fundsupermart.com Recommended Unit Trusts Awards 2015

7. 19SmartInvestor | 07. 2015 |
mid-cap counters,”said Wong.
Fundsupermart, said Wong, has
always advocated to investors to take
a long-term view and have balanced
portfolios on investments, which tend
to be profitable regardless of short-term
market volatilities and sentiments.
Being one of the most established
investment assets in the market, unit
trusts, according to Wong, are also
increasingly important as one of the
long-term financial planning tools
with the advancement in technology
and medical care which means longer
lifespans that requires a decent amount
of savings and financial resources to
maintain.
“People who save also realise that
the rate of saving is hardly sufficient to
keep up with inflation and as a result,
there is a huge pool of customers who
need better financial solutions to buffer
against the inadequate retirement funds.
Unit trusts have proven to be a good
solution to this group of investors who
are basically aware of the problem but
less savvy about the market,”said Wong.
From FIMM’s perspective, more
Malaysians are choosing unit trust
and PRS as their preferred investment
choice to provide some buffer against
the inflation, as evident in the growth
of the NAV and the number of account
holders. FIMM is also proud to highlight
that the number of unit trust consultants
has increased 9.6% from the number
registered at the end of 2014, and we
have now 55,212 registered consultants
as of May 2015. The number of PRS
consultants has also increased by 15.2%
for the same period.
As a self-regulatory organisation, FIMM continuously endeavours to increase
the number of consultants without compromising the need to adhere to the
registration requirements, including the examination requirement. Towards this
end, FIMM is pleased to announce that we have recently published the study
guide for PRS examination in Bahasa Malaysia and Chinese language, in addition
to the English language. The inaugural exam session in Bahasa Malaysia and
Chinese language was held on 27 June this year. This implementation was a long
journey for FIMM as it requires careful consideration over the contents in the
original language before proceeding to the next step in ensuring the meaning
is not lost in translation - literally. In the words of the great British leader, Sir
Winston Churchill,“Difficulties mastered are opportunities won”. We hope that
our initiative would help to open the window of opportunity and encourage
more individuals to consider an exciting career in the fund management
industry.
FIMM has also led the industry in engaging with the SC in establishing a
Fund Disclosure Working Group to improve the standards of disclosure in the
fund’s prospectus. The essence of this project is mainly to protect the investors
by presenting fund information that can be easily understood for the purpose
of making informed investment decisions. We have the responsibility to enable
the investors to comprehend prospectuses in plain language, presented in a
clear, concise and effective manner. However, we must remember that the use
of plain language should not reduce our obligation and we must disclose the
relevant and important information to the investors. This project is currently
on-going and I am confident that this initiative will also contribute towards the
improvement in approval time on prospectuses.
We continue to live and operate in a dynamic world where financial
prospects, as we have seen in the last quarter of 2014, can change at the drop of
a hat. We are also in the process of realising the benefits of liberalisation through
ASEAN CIS Framework and the new Goods and Services Tax -GST. These will
undoubtedly provide both new challenges and opportunities for all of us and we
will need to work harder to ensure the continued growth of the industry in view
of these new developments. We strive to protect the investors by empowering
them to make the right decisions and create a successful investment experience
for themselves and their family. Investor education and awareness initiatives
will be implemented continuously and we hope that these initiatives will
elevate investors’knowledge on unit trust and PRS. FIMM remains committed
to supporting our members and will continue to act as a spokesperson for the
industry through our collaboration with the SC and other government agencies.
Comment From Nazaruddin Othman, CEO OF FIMM
Towards a More Dynamic Fund Industry
Nazaruddin Othman,
CEO of Federation of Investment
Managers Malaysia (FIMM)

8. 20 | SmartInvestor | 07 . 2015
EVENT HIGHLIGHTSFundsupermart.com Recommended Unit Trusts Awards 2015
Row 1 L-R: Dennis Tan, Managing Director of iFast Capital Sdn Bhd talking
to some guests before the start of the event. Nazaruddin Othman CEO of
FIMM delivering his opening speech. Wong Weiyi, General Manager of
Fundsupermart.Com
Row 2 L-R: Lee Chee Ming, Head Of Sales & Marketing, KAF Investment Funds
Bhd receiving the award from Tan. Fund Manager Elyzza Syazreen receiving the
award on behalf of Libra Invest Bhd. Sheila Halim, CEO of Amanah Mutual Bhd
receiving the award from Tan.
Row 3 L-R: Raymond Yeung, Head of Distribution Partners, Maybank Asset
Management Bhd receiving the award. Wong Mein, CEO of TA Investment
Management Bhd receiving the award from Tan, Lee Sook Yee, CIO receiving the
award on behalf of Kenanga Investors Bhd.
Row 4: Wong presenting a token of appreciation to Nazaruddin

9. 21SmartInvestor | 07. 2015 |
Row 1 L-R: Dr. Tan Chong Koay from Pheim Unit Trusts Bhd receiving the award,
Maznah Mahboh from AmInvestment Bhd receiving the awards. Teng Chee Wai
from Affin Hwang Capital receiving the award from Tan
Row 2 L-R: Michael Tan Chief Marketing Officer of CIMB-Principal Asset
Management Bhd receiving the award. Heo Cheah How, Chief Investment
Officer, RHB Asset Management Sdn Bhd receiving the award from Tan. Chen
Fan Fai, Chief Investment Officer and Country Head, Eastspring Investments Bhd
receiving the award.
Row 3 L-R: Wong Weiyi and Nazaruddin Othman congratulating the winners,
Wong Weiyi and members of his research team giving a press conference after
the Award Ceremony
Row 4: Guests having a sumptuous lunch buffet after the event.