PUBLIC SMALLCAP FUND
PSMALLCAP - PUBLIC MUTUAL
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Terms and conditions:-
Disclaimer: The contents of the fund mentioned are STRICTLY for information purposes ONLY. They DO NOT represent the views of Public Mutual Berhad. The contents are intended to introduce and promote the fund. Kindly consult a Unit Trust Consultant before starting your investment. Investors are advised to read and understand the contents of the relevant Master Prospectuses, Supplemental Prospectuses, and Product Highlights Sheet (PHS) before investing. Investors should understand the risks of the fund, and compare and consider the fees, charges and costs involved in investing in the fund. A copy of the Prospectus and PHS can be viewed at our website www.publicmutual.com.my. Investors should make their own assessment of the merits and risks of the investment. If in doubt, investors should seek for professional advice. Please refer to www.publicmutual.com.my for our investment disclaimer. |
About Malaysian Pacific Industries Berhad
Malaysian Pacific Industries Berhad is an investment holding company. The principal activities engaged by its subsidiaries are that of manufacturing, assembling, testing and sale of integrated circuits, semiconductor devices, electronic components and leadframes to customers across the world. The Company's segments are Asia, The United States of America (USA), and Europe. The Company's subsidiaries include Dynacraft Industries Sdn Bhd (Dynacraft) and Carsem (M) Sdn Bhd (Carsem). Dynacraft is a manufacturer of lead frames. It designs, manufactures and supplies microelectronic packaging systems. Carsem comprises the two Ipoh plants, S-site and M-site, with S-site focusing on micro-leadframe packages (MLP) and Test, and M-site focusing on high-density leaded products.
INDUSTRY
Semiconductors
EXECUTIVE LEADERSHIP
Leng San Kwek
Non-Independent Non-Executive Chairman of the Board
Manuel Zarauza Brandulas
Managing Director, Executive Director
Zoe Lim Hoon Hwa
Company Secretary
Wei Fong Wong
Group Company Secretary
Mohamad Kamarudin bin Hassan
Independent Non-Executive Director
Key Stats
REVENUE (MM, MYR)
EPS (MYR)
Price To Earnings (TTM) | 34.88 |
|---|---|
Price To Sales (TTM) | 5.06 |
Price To Book (MRQ) | 5.61 |
Price To Cash Flow (TTM) | 19.20 |
Total Debt To Equity (MRQ) | 6.41 |
LT Debt To Equity (MRQ) | 2.15 |
Return On Investment (TTM) | 20.73 |
Return On Equity (TTM) | 14.23 |
TIME dotCom (TIME), listed on the Stock Exchange of Malaysia since 2001, is a fixed line telecommunications provider that connects businesses and homes by harnessing the talents of the most capable people and the latest available technologies.
Based in Kuala Lumpur, TIME offers a full suite of domestic and international connectivity, and data centre solutions to the Wholesale, Enterprise and Retail markets.
We also deliver pure fibre home broadband services at speeds of up to 1Gbps to consumers in Malaysia – the country’s fastest.
The Heart of Telecommunications
TIME is committed to offering complete fibre network solutions and value-added services to meet insatiable demands for fast, reliable and secure bandwidth.
We are able to deliver on our commitment thanks to the Cross Peninsular Cable System (CPCS™), our nationwide fibre optic network, the anchor our core fixed line business. Fully future-proof and resilient, the CPCS™ delivers exceptional availability, speed and reliability.
Taking It Global
Our vision is a global one, and our strategic stakes in international submarine cable systems such as Unity, Asia Pacific Gateway (APG), Asia-Africa-Europe-1 (AAE-1) and FASTER, enable us to meet this vision by connecting Asia to the rest of the world and back.
Our cable landing stations are a crucial component of our international submarine cable assets, serving as termination hubs for seamless international and domestic connectivity.
We also offer international-class storage and value-added ancillary services through our certified, carrier-neutral data centre facilities.
Continued Excellence
We have been in business for more than two decades, and have built a reputation for high-performance solutions, product innovation and unwavering customer commitment.
Our pledge is to continue pursuing service excellence and pushing the boundaries of technological performance, while offering best-in-class telecommunications solutions in Malaysia and beyond.
About D & O Green Technologies Bhd
D & O Green Technologies Berhad is a Malaysia-based investment holding company. The Company is engaged in the provision of management services (including manufacturing plant facility services). The Company's segments include Asia, Europe, United States of America and Other Countries. The Company's subsidiaries include Omega Semiconductor Sdn. Bhd. (Omega), which is an investment holding company; Dominant Opto Technologies Sdn. Bhd. (Dominant), which is engaged in manufacturing semiconductor components and machineries; Dominant Opto Technologies Korea Inc, which is engaged in merchandising semiconductor components, and Dominant Opto Technologies (Shanghai) Co., Ltd., which is engaged in development of semiconductor application technology, installation, wholesale and retail of semiconductor devices, electronic components, electrical equipment for lighting, electronic display screen, lighting fittings, import and export of related products.
INDUSTRY
Semiconductors
EXECUTIVE LEADERSHIP
Mohammed Azlan bin Hashim
Non-Independent Non-Executive Chairman of the Board
Kheng Chiong Tay
Managing Director, Executive Director
Dau Peng Cheam
Executive Director
Pei Choo Tan
Company Secretary
Chin San Goh
Non-Executive Non Independent Director
Key Stats
REVENUE (MM, MYR)
EPS (MYR)
Price To Earnings (TTM) | 91.37 |
|---|---|
Price To Sales (TTM) | 8.88 |
Price To Book (MRQ) | 28.49 |
Price To Cash Flow (TTM) | 45.79 |
Total Debt To Equity (MRQ) | 23.03 |
LT Debt To Equity (MRQ) | 7.91 |
Return On Investment (TTM) | 23.40 |
Return On Equity (TTM) | 14.75 |
Corporate Information
IGB REIT Management Sdn Bhd 201201006785 (908168-A)
CMSL/A0305/2013
Level 32, The Gardens South Tower
Mid Valley City, Lingkaran Syed Putra,
59200 Kuala Lumpur, Malaysia
Tel: 603-2289 8989
Fax: 603-2289 8802
Email : corporate-enquiry@igbreit.com
Investor Relation : investorrelations@igbreit.com
Feedback : feedback@igbreit.com
Tan Sri Dato' Prof. Lin See Yan
Chairman and Independent Non-Executive Director
Dato' Seri Robert Tan Chung Meng
Managing Director and Non-Independent Executive Director
Halim bin Haji Din
Independent Non-Executive Director
Le Ching Tai @ Lee Chen Chong
Independent Non-Executive Director
Robert Ang Kim Pack
Independent Non-Executive Director
Elizabeth Tan Hui Ning
Non-Independent Executive Director
Tan Mei Sian
Non-Independent Executive Director
Tan Lei Cheng
Non-Independent Non-Executive Director
Tan Boon Lee
Non-Independent Non-Executive Director
Anthony Patrick Barragry
Tina Chan Lai Yin
M Trustee Berhad 198701004362 (163032-V)
Tingkat 15, Menara AmFirst
No.1, Jalan 19/3
46300 Petaling Jaya
Selangor Darul Ehsan, Malaysia
Tel: 603-7954 6862
Fax: 603-7954 3712
Chartwell ITAC International Sdn Bhd 197901008026 (52312-H)
B-11-3A - B-11-05
Level 11, Gateway Corporate Suites
Gateway Kiaramas
No. 1, Jalan Desa Kiara, Mont Kiara
50480 Kuala Lumpur, Malaysia
Tel: 603-6201 6288
Fax: 603-6203 0088
PricewaterhouseCoopers PLT (LLP0014401-LCA & AF 1146)
Level 10, 1 Sentral, Jalan Rakyat
Kuala Lumpur Sentral
50470 Kuala Lumpur, Malaysia
Tel: 603-2173 1188
Fax: 603-2173 1288
Tricor Investor & Issuing House Services Sdn Bhd
197101000970(11324-H)
Unit 32-01, Level 32 Tower A
Vertical Business Suites
Avenue 3, Bangsar South
No. 8, Jalan Kerinchi
59200 Kuala Lumpur, Malaysia
Tel: 603-2783 9299
Fax: 603-2783 9222
IGB REIT seeks to own and invest in a portfolio of quality, income producing real estate used primarily for retail purposes. Its primary objective is to provide unitholders with regular and stable distributions, a sustainable long term unit price, and growth in distributable income and capital, while maintaining an appropriate capital structure.
IGB REIT is externally managed and administered by IGB REIT Management Sdn Bhd, the Manager of IGB REIT, who works to increase income and enhance asset value over time with the objective of maximising returns from investments, and consequently the distributions to unitholders. The Manager does this through active asset management, acquisition growth, and capital and risk management.
SAM Engineering & Equipment (M) Berhad (SAMEE) is a subsidiary of Singapore Aerospace Manufacturing Pte Ltd (SAM) and listed in the Main Board of Bursa Malaysia (KLSE: 9822). It is a key player in the aerospace and equipment industries.
SAMEE has manufacturing facilities strategically located in Malaysia and
Singapore to provide one-stop solution to its customers worldwide. It services
range from 5-axis machining, surface treatment to equipment integration and
automation solutions.
TAN KAI HOE
GOH WEE KENG, JEFFREY
SHUM SZE KEONG
Impact of Large and Small Cap Stocks on Fund Performance
Understanding the difference between large cap stocks and small cap stocks will enable investors to comprehend a fund’s performance better and how their prices behave in different market cycles.
A fund’s performance is dependent on its portfolio’s exposure to stocks of different sizes during various stages of a stock market cycle.
Large cap stocks vs. Small cap stocks
Large cap stocks are normally defined as companies with relatively high market capitalisation. In this context, market capitalisation refers to the total market value of a company and is obtained by multiplying the company’s stock price by the total number of shares in issue. Large cap stocks tend to be industry leaders, have established track records and generally enjoy stable earnings growth. Due to their size, they are better equipped to ride out challenging economic times compared to smaller cap stocks. As a result of these features, the share prices of large cap stocks are relatively more resilient than smaller cap stocks.
In contrast, small cap stocks tend to be new players or operate in new growth industries. Due to their smaller profit base, small cap companies can generate higher earnings growth rates compared to large cap companies. However, their earnings tend to be less predictable and are more vulnerable to changes in economic conditions. For this reason, small cap stock prices are more volatile. Thus, they are considered to be riskier investments when compared to large cap stocks.
In general, large cap stocks tend to outperform during the early stages of a market upcycle but, small-cap stocks will typically outperform large caps at the later stages of a market cycle. This shift in performance is attributed to the rotational buying interest of market participants comprising institutional as well as retail investors. As such, unit trust funds that focus on stocks of different sizes will register a range of performances depending on their portfolios’ mix of large-cap stocks versus small-cap stocks.
Performance of FBM KLCI and FBM Small Cap Index
To illustrate the volatility of small cap stocks relative to large cap stocks, Chart 1 shows the performance of the FBM KLCI and FBM Small Cap Index since 1 January 2000 to 27 February 2015. As the local market sustained losses in tandem with global markets following the dot com bubble in 2000, the subsequent 7-year period (starting from April 2001) saw the FBM KLCI rebound by 174.0% up to January 2008 before the onset of the Global Financial Crisis (GFC). Meanwhile, the FBM Small Cap Index registered a comparable gain of 158.9% over the same period.
Following the post-GFC consolidation of the domestic market, the FBM Small Cap Index rallied by 221.0% from March 2009 to an all-time high in August 2014, outperforming the FBM KLCI’s gain of 122.6% over the same period. However, as Bursa Malaysia retraced from late August 2014 to 27 February 2015, the FBM Small Cap Index fell by 14.1% as compared to the smaller decline of 2.7% registered by the FBM KLCI.
Chart 1: FTSE Bursa Malaysia KLCI and FTSE Bursa Malaysia Small Cap Index (January 2000 to 27 February 2015)
Public Mutual’s Investment Strategy
Public Mutual adopts an investment philosophy of investing primarily in stocks with strong fundamentals and resilient earnings. This investment approach enables our funds to ride through challenging periods of market volatility to deliver commendable performance over the long-term.
Since the market correction in late 2014, the resilient performance of Public Mutual’s funds reflects our fundamental approach to stock selection, which is focused on achieving consistent long-term returns. Our investment universe includes both large and small cap stocks as selected small cap companies have the potential to grow over the years into companies with larger market capitalisation. This approach to the funds’ investment process will help to provide consistent returns for unit holders over the long-term.
Rotational buying in different stages of market upturn
Following a market downturn, the subsequent rebound in the market is usually driven by buying support of institutional investors in large cap stocks. Sustained buying interest in large cap stocks over the course of a market’s extended gain may result in the valuations of these stocks reaching levels that are no longer deemed attractive. This may prompt market participants to subsequently search for value in small cap stocks. As such, rotational interest into small cap stocks generally occurs towards the mid or late part of a broad market upcycle. At this stage, retail investors become increasingly excited and active in the market.
During periods when small cap stocks outperform large cap stocks by a significant margin, unit trust funds which focus their investments in small cap stocks would inevitably outrun funds that emphasise on large cap stocks. As long as the rally in small cap stocks continues, such funds will continue to outperform other funds.
In spite of that, investors should be aware that funds which focus their investment in small cap stocks may see considerably higher volatility of returns when small cap stocks retrace and when the market sentiment for small cap stocks turns negative.
The end of the rally in small cap stocks generally signals the start of a period of consolidation in the overall market. As small cap stocks tend to have a lower level of stock trading liquidity and a smaller base of institutional holdings, their price performance are inclined to be more volatile during periods of market uncertainty. In comparison, the price performance of large cap stocks is generally more stable during periods of market weakness as buying support from institutional investors will emerge as and when these stocks fall to valuations which are deemed attractive. In this case, investors who have a preference for more consistent fund returns over the long-term should invest in funds that focus a larger proportion of their portfolios in large cap stocks with more resilient earnings prospects.
This article is prepared solely for educational and awareness purposes and should not be construed as an offer or a solicitation of an offer to purchase or subscribe to products offered by Public Mutual. No representation or warranty is made by Public Mutual, nor is there acceptance of any responsibility or liability as to the accuracy, completeness or correctness of the information contained herein.
在市场低迷之后，市场随后的反弹通常是由机构投资者对大盘股的买盘支撑推动的。在市场持续上涨的过程中，对大盘股的持续购买兴趣可能会导致这些股票的估值达到不再具有吸引力的水平。这可能会促使市场参与者随后寻找小盘股的价值。因此，对小盘股的轮换兴趣通常发生在大盘上升周期的中期或后期。在这个阶段，散户投资者在市场上变得越来越兴奋和活跃。
在小盘股大幅跑赢大盘股的时期，专注于小盘股的单位信托基金不可避免地会跑赢专注于大盘股的基金。只要小盘股的涨势继续，这类基金的表现就会继续跑赢其他基金。
尽管如此，投资者应注意，当小盘股回撤以及市场对小盘股的情绪转为负面时，专注于小盘股的基金可能会看到更大的回报波动。
小盘股上涨的结束通常标志着整个市场整合期的开始。由于小盘股往往具有较低的股票交易流动性和较小的机构持股基数，因此在市场不确定时期，其价格表现往往会更加波动。相比之下，大盘股的价格表现通常在市场疲软期间更为稳定，因为当这些股票跌至被认为具有吸引力的估值时，机构投资者的买入支持就会出现。在这种情况下，偏好更稳定的长期基金回报的投资者应该投资那些将更大比例的投资组合集中在收益前景更具弹性的大盘股的基金。
- 本地基金 （本地金 vs 外国基金， 本地金风险回酬、会来得较低）
- 目标: Capital Growth 资本增长。投资在于小资公司，所以资本增加幅度比较大
- 风险：5 （最高），建议持有5年以上。
- 投资：主要都是投资在本地迅速成长的中小型企业。
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