Fundamentals Dec 2014

MARKET UPDATE I monthly review and outlook
GLOBALEQUITIES
Source:Bloomberg
Global stock markets continued its volatile ride in November

impacted by monetary stimulus and the plunge in oil prices.
Chinas equity market ended the month as one of the top

performers on the back of dovish monetary policy by the Peoples
Bank of China (PBoC).The Organization of the Petroleum Exporting
Countries (OPEC) took no action to curtail oil output which resulted
in a plummet of oil prices to multi-year lows, putting additional
pressure on energy companies.
While US consumer confidence fell in November, the latest GDP

revision showed personal consumption expenditures grew at a
decent 2.2% quarter-on-quarter on an annualised pace in 3Q 2014.
The S&P 500 Index strengthen by 5.2% (in MYR terms) in

November 2014. Both the MSCI World Index and the MSCI
Emerging Markets Index were up by 4.5% and 1.5% respectively (in
MYR terms). The Tokyo Stock Price Index however
underperformed the MSCI World Index by 2.0% with a recorded
growth by 2.5% in November (in MYR terms).
STRATEGY: The difference between major central banks

monetary policies has become more evident, although its impact on
the global markets remains to be seen.We are raising a moderately
high cash levels for our portfolio, which will be tactically deployed..
REGIONAL EQUITIES
The broader Asian equity markets recorded a moderate growth

of 2.9% (in MYR terms), and underperformed the broader world
index as global growth concerns and declining oil prices
underpinned the performance of risky assets.
The Shanghai composite index continued its streak as one of the
top performing equity markets in the region with a 13.3% monthon-month growth in November. Retail investors continued to
increase their exposure into the market in hopes of benefitting
from a re-rating of domestic equities on the back of the Hong
Kong Shanghai Share Connect initiative.
While Chinas manufacturing PMI declined in the month of

November, the countrys service PMI has remained resilient and
signaled an increase in November in what analyst believed is
due to the recent stimulus measure taken by the PBoC. The
central bank reduced 1-year deposit rates by 25bps to 2.75%,
and 1-year lending rates to 40bps to 5.6% for the first time since
2012.
The weakening Yen also took its toll on the regional currencies
rd
which
month
in November.
dropped
for the 3 consecutive
South
Korea exporters are expected to face additional headwinds to
remain competitive as Japan and China actively looks at
depreciating its currency.
Source:Bloomberg
STRATEGY: Markets are expected to remain volatile in the near

term on the back of the continued decline in oil prices affecting
investors confidence in riskier assets. The Manager will hold on
to a more cautious view on the market and maintain a moderate
cash level for our portfolios while waiting for markets to find its
footing.
DECEMBER 2014 I FUNDamentals

LOCAL EQUITIES
Source:Bloomberg
The Malaysian equity market ended the month of November as one

of the worst performing market in the region. The KLCI Index
dipped 1.8% over the month, whilst the ACE Index, which gauges
the performance of smaller cap companies, slid 4.0% lower monthon-month.
As a net exporter of oil & gas, the domestic economy was adversely
impacted by the falling oil prices which slid to a 4-year low in
November before ending the month at USD66.15 per barrel.
Markets believe there is a possibility for further oil prices decline
given OPECs reluctance to cap production.
While the oil & gas sector underperformed, outperformance was

seen coming from the more defensive sectors such as telcos, and
utilities. Air Asias share price rebounded due to the lower oil price,
and has expressed that it is ready to lower passenger fares to boost
passenger volume.
Bank Negara maintained its overnight policy rate at 3.25% on

expectations of moderating growth in private consumption, and
exports growth.
STRATEGY: The Manager anticipates the domestic market to

remain challenging as we move into the New Year with oil prices
remaining a stumbling block for the domestic economy. We will
remain cautious and maintain a moderate cash levels for our funds,
ready to be deployed once market stabilizes.
GLOBAL & LOCAL FIXED INCOME
Fixed income markets in general rebounded from Octobers

sell-off and the rally extended into November. Encouraging U.S.
data and a surprise liquidity announcement by the Bank of
Japan helped alleviate fears about the end of the Federal
Reserves QE program as well as the domestic implications of
the global economic slowdown.
Despite the fact that US third-quarter GDP growth was revised

up to 3.9%, US Treasury yields traded lower with the 10-year
note falling below 2.2%, the lowest level in a month. The US
treasury yields were being suppressed by low global yields
(which increases demand for the relatively higher US yields) as
well as persistent demand from institutions and banks. The
period of accommodative global central bank activity is far from
over, with both BoJ and ECB vowing to protect their economies.
Asian fixed income markets remained resilient on optimism that

liquidity will continue to flow into the region led by investors
search for yields, and a structural global re-allocation toward
emerging markets.
Malaysian
bonds
were mixed after seeing
the
government
continued rise in the USD/MYR exchange rate. There were

pressures on local bonds during the last week of the month as
USD/MYR was sent surging on the heels of declining global
crude oil prices, which fell to a 4-year low in November.
Source:Bloomberg
STRATEGY: The Manager remains comfortable with the current

portfolios short duration and is constructive on Asian credits.
Low cash levels will be maintained for all fixed income
portfolios.

GLOBAL COMMODITIES
The Commodity markets rout which started at the end of June
unfortunately continued throughout November, led by the collapsing
oil prices. WTI, which traded at over $100 in June, and had fallen to
$80 by the end of October, dropped to $75 by mid-November and
then to $66 at month-end. Only a few commodities - Wheat, Nickel
and Natural Gas the most important ones managed to finish the
month in positive territory.
Precious metal equities rebounded 11% from the years low early in
the month as the gold price stabilised. The gold producers operations
have been consistent and better than expected over the last year in
contrast with historic performance.
The decline in the oil price and the devaluation of currencies against
the dollar add to the positive case with cost declines that can be as
much as 10% in coming quarters.
Wheat and corn markets remained range bound during the last two
weeks, while the soy complex managed to continue its rebound,
which was initiated in early October.
Source:Bloomberg
STRATEGY: The Target Fund Managerhas a neutral outlook on

energy sector while remaining a cautious outlook on metals and
agriculture sectors.
GLOBAL THEMES: REITs & INFRASTRUCTURE

The Asian REITs market grew 2.8% while the Asian
Infrastructure market grew 2.4% on a month-on-month basis.
The infrastructure and REITs sectors have performed well this
year due to expectations that governments will spend more to
drive the respective countries growth. REITs performed well on
the back of continued low interest rate and bond yield
environment. Expectations are for yields to continue to stay low
and even if it does rise, it will be very gradual due to the feeble
growth in the developed economies.
In Thailand, it was announced that a second Thai REIT, which
plans to invest in industrial properties (warehouses and
factories for rent), has already been approved by the regulator
and will be launched in December 2014.
President Xi Jinping announced in November that China will put
US$40 billion (HK$310 billion) into a Silk Road Fund to improve
infrastructure links across the Asia-Pacific.
The Manager focuses
STRATEGY:
on emerging Asia
infrastructure companies where its governments are allocating
ever increasing amount of their government budget into
developing the sector. The fund has an overweight exposure to
Indonesia, Thailand and Philippines and the Manager continues
to be positive with the infrastructure prospects there.
Source:Bloomberg
Content
Market Update: Monthly Review & Outlook
1-3
Affin Hwangs Recommended Funds
Fund Risk Classification
39
Fund Factsheets
Absolute Return Fund II
32
PRS Conservative Fund
Aiiman Growth Fund
26
PRS Growth Fund
Aiiman Income Plus Fund
28
PRS Moderate Fund
Aiiman PRS Shariah Growth Fund
10
Select AUD Income Fund (AUD Class)
18
Aiiman Select Income Fund
27
Select AUD Income Fund (RM Class)
19
ASEAN Flexi Fund
12
Select Asia (ex Japan) Opportunity Fund
13
China Growth Fund
30
Select Asia (ex Japan) Quantum Fund
11
Enhanced Deposit Fund
25
Select Asia Pacific (ex Japan) REITS and Infrastructure Fund
15
Fixed Maturity Income Fund IV
33
Select Balanced Fund
17
Fixed Maturity Income Fund V
33
Select Bond Fund (RM Class)
23
Fixed Maturity Income Fund VI
34
Select Bond Fund (USD Hedged-Class)
24
Fixed Maturity Income Fund VII
34
Select Dividend Fund
16
Fixed Maturity Income Fund VIII
35
Select Income Fund
22
Fixed Maturity Income Fund IX
35
Select Opportunity Fund
14
Fixed Maturity Income Fund X
36
Select SGD Income Fund (RM Class)
20
Fixed Maturity Income Fund XI
36
Select SGD Income Fund (SGD Class)
21
Fixed Maturity Income Fund XII
37
Structured Income Fund V
38
Global Commodity Fund
31
Structured Income Fund VII
38
Japan Growth Fund
29
Tactical Opportuinty Capital Protected Fund
37
Disclaimer:
This presentation has been prepared by Affin Hwang Asset Management Berhad (formerly known as Hwang Investment Management Berhad) (hereinafter referred to as Affin Hwang
Capital) specific for its use, a specific target audience, and for discussion purposes only. All information contained within this presentation belongs to Affin Hwang Capital and may not be
copied, distributed or otherwise disseminated in whole or in part without written consent of Affin Hwang Capital.
The information contained in this presentation may include, but is not limited to opinions, analysis, forecasts, projections and expectations (collectively referred to as Opinions). Such
information has been obtained from various sources including those in the public domain, are merely expressions of belief. Although this presentation has been prepared on the basis of
information and/or Opinions that are believed to be correct at the time the presentation was prepared, Affin Hwang Capital makes no expressed or implied warranty as to the accuracy and
completeness of any such information and/or Opinions.
As with any forms of financial products, the financial product mentioned herein (if any) carries with it various risks. Although attempts have been made to disclose all possible risks involved,
the financial product may still be subject to inherent risk that may arise beyond our reasonable contemplation. The financial product may be wholly unsuited for you, if you are adverse to the
risk arising out of and/or in connection with the financial product.
Affin Hwang Capital is not acting as an advisor or agent to any person to whom this presentation is directed. Such persons must make their own independent assessments of the contents of
this presentation, should not treat such content as advice relating to legal, accounting, taxation or investment matters and should consult their own advisers.
Affin Hwang Capital and its affiliates may act as a principal and agent in any transaction contemplated by this presentation, or any other transaction connected with any such transaction, and may
as a result earn brokerage, commission or other income. Nothing in this presentation is intended to be, or should be construed as an oer to buy or sell, or invitation to subscribe for, any securities.
Neither Affin Hwang Capital nor any of its directors, employees or representatives are to have any liability (including liability to any person by reason of negligence or negligent misstatement) from any
statement, opinion, information or matter (expressed or implied) arising out of, contained in or derived from or any omission from this presentation, except liability under statute that cannot be excluded.
Asset Management
Wills & Trusts
Promotion period: 20 October 2014 to 28 February 2015
1. Trust Nomination
Promotional Fee
RM88 (inclusive of stamp duty)
Actual Fee
RM110 + RM10 (stamp duty)
2. Pacific Will Writing
Will Type
Standard Will
Intermediate I
Intermediate II
Intermediate III
Comprehensive I
Comprehensive II
Exclusive I
Exclusive II
Principal Fees
No. of
clauses
1 10
11 16
17 22
23 28
29 34
35 40
40 46
Above 46
Supplementary* Fees
Actual
Discounted
Actual
Discounted
RM 350
RM 500
RM 600
RM 800
RM 1,000
RM 1,200
RM 1,500
RM 1,800
RM 280
RM 400
RM 480
RM 640
RM 800
RM 960
RM 1,200
RM 1,440
RM 200
RM 250
RM 300
RM 400
RM 500
RM 600
RM 750
RM 900
RM 160
RM 200
RM 240
RM 320
RM 400
RM 480
RM 600
RM 720
*Applicable for 1 person only (Principals spouse, parents or children)

Note: Includes Will Writing service only and does not include lifetime custodian service
3. Pacific Will Plan

Will Type
Standard Will
Intermediate I
Intermediate II
Intermediate III
Comprehensive I
Comprehensive II
Exclusive I
Exclusive II
Principal Fees
No. of
clauses
1 10
11 16
17 22
23 28
29 34
35 40
41 46
Above 46
Supplementary* Fees
Actual
Discounted
Actual
Discounted
RM 1,050
RM 1,200
RM 1,300
RM 1,500
RM 1,700
RM 1,900
RM 2,200
RM 2,500
RM 840
RM 960
RM 1,040
RM 1,200
RM 1,369
RM 1,520
RM 1,760
RM 2,000
RM 900
RM 950
RM 1,000
RM 1,100
RM 1,200
RM 1,300
RM 1,450
RM 1,600
RM 720
RM 760
RM 800
RM 880
RM 960
RM 1,040
RM 1,160
RM 1,280
*Applicable for 1 person only (Principals spouse, parents or children)

Note: Includes Will Writing and lifetime custodian service
4. Pacific Will Rewriting

Will Type
No. of clauses
Actual Principal Fees
1 10
11 16
17 22
23 28
29 34
35 40
41 46
Above 46
RM 180
RM 250
RM 300
RM 400
RM 500
RM 600
RM 750
RM 900
Standard Will
Intermediate I
Intermediate II
Intermediate III
Comprehensive I
Comprehensive II
Exclusive I
Exclusive II
*A copy of the latest Will must be provided
Affin Hwang Asset Management Bhd (429786-T)

(Formerly known as Hwang Investment Management Bhd)
Suite 11-01, 11th Floor, Menara Keck Seng, 203 Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia
Toll Free Number: 1800 88 7080 T: +603 2116 6000 F: +603 2116 6100 W: www.affinhwangam.com
*Promotional Fees
RM 120
(for any number of clauses)
excludes life time original Will Custody
RM 500
(for any number of clauses)
with life time original Will Custody
Affin Hwangs
Recommended Funds
FUNDS
FUND CATEGORY
FUND TYPE
Select Bond Fund
Bond
Income
Select AUD Income Fund
Mixed Asset
Income & Growth
Select Balanced Fund
Balanced
Growth & Income
Select Income Fund
Fixed Income
Income & Growth
Select SGD Income Fund
Mixed Asset (Conservative)
Income
Select Asia (ex Japan) Opportunity Fund
Equity
Growth
Select Asia Pacific (ex Japan) REITs and Infrastructure Fund
Mixed Asset
Income & Growth
Select Dividend Fund
Equity
Income & Growth
Select Opportunity Fund
Equity
Growth
ASEAN Flexi Fund
Mixed Asset
Growth & Income
China Growth Fund
Feeder (Wholesale)
Growth
Japan Growth Fund
Equity
Growth
Select Asia (ex Japan) Quantum Fund
Equity
Growth
Aiiman Income Plus Fund
Bond
Income
Aiiman Select Income Fund
Mixed Asset (Conservative)
Income
Aiiman Growth Fund
Equity
Growth
CONVENTIONAL FUNDS
SHARIAH FUNDS
Award-winning Fund
Affin Hwang Select Income Fund: The Edge-Lipper Fund Awards 2014, Mixed Asset MYR Conservative 5 Years
Affin Hwang Select Balanced Fund: The Edge-Lipper Fund Awards 2014, Mixed Asset MYR Balanced (Malaysia) 5 Years & 10 Years
Affin Hwang Select Opportunity Fund: The Edge-Lipper Fund Awards 2014, Equity Malaysia Diversified 5 Years
Affin Hwang Aiiman Growth Fund: Morningstar Awards 2014, Islamic Malaysia Equity
Asset Management
Affin Hwang PRS Growth Fund

(formerly known as Hwang PRS Growth Fund)
A Fund that facilitates the accumulation of retirement savings by Members for their retirement needs, by aiming to generate capital growth.
Fund Category
Core (Growth)
Benchmark
35% FTSE Bursa Malaysia Top
100 Index + 35% MSCI AC Asia
ex Japan Index + 30% Maybank
12-Month FD rate
Launch Date / IOP
02 November 2012 / RM0.50
Maturity Date
N/A
Financial Year End
31 July
Subscription
Cash
Sales Charge
Not applicable
Redemption Charge
Not applicable
Fees by the PPA
Annual Fee (2)
RM8.00 per annum
Pre-Retirement Withdrawal
RM25 for each withdrawal request
Annual Management Fee
1.8% per annum
Minimum Investment
RM100
Performance Record as at 30 November 2014*

Cumulative Return Over The Period (%)
:
:
:
:
:
:
:
:
:
:
:
Performance Table as at 30 November 2014*

Total
Return(%)
1 Month
1 Year
3 Year
Fund
1.0
7.4
N/A
0.3
3.9
Benchmark
N/A
130
Indexed Performance (%)
Name of Scheme
Affin Hwang Private Retirement
Scheme
125
120
Since
Inception
18.5
14.9
Source: Lipper
PRSG
115
Annualised
Return(%)
Fund
Benchmark
110
105
Benchmark
100
1 Year
7.4
3.9
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
8.8
7.1
Year To
Date
6.7
2.8
2013
8.7
8.0
2012
2.3
3.4
2011
-
Gross Distribution
(sen)
2.00
2.00
Yield
(%)
3.9
3.7
Source: Lipper
95
Nov 12
Mar 13
Jun 13
Oct 13
Jan 14
May 14
Aug 14
Nov 14
November 2012 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of Units may go
down as well as up. Past performance is not indicative of future performance.
Source: Lipper
Top Holdings as at 30 November 2014*

Affin Hwang Select Bond Fund
Affin Hwang Select Opportunity Fund
Affin Hwang Select Asia (Ex Japan) Quantum
Fund
Affin Hwang Select Asia (Ex Japan)
Opportunity Fund
Affin Hwang Japan Growth Fund
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
Income Distribution History

34.1%
25.8%
19.9%
13.9%
2013
2014
(1)
Distribution Policy : Distribution of income, if any, would be on annual basis
5.1%
Country Allocation of Underlying Asset as at
30 November 2014*
Asset Allocation of Underlying Asset as at

30 November 2014*
37.1%
Malaysia
Fixed Income
Instruments
50.9%
19.9%
US
Singapore
Equities
Cash & Cash

Equivalents
Indonesia
40.0%
9.1%
Japan
5.1%
Hong Kong
5.0%
Korea
3.5%
Australia
2.9%
Others
Minimum Subsequent
Investment
RM50
8.7%
6.7%
Cash & Cash Equivalents
2.1%
9.1%
As at 30 November 2014*
Fund Size
RM32.0 million
NAV Per Unit
RM0.5509
* The data provided above is that of the Fund and is a percentage of NAV 30 November 2014. All figures are subject to frequent changes on a daily basis.
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are calculated
based on the total dividend payout/NAV at the start of the calendar year
(2)
The Private Pension Adminstrator (PPA) Annual Fee is not payable by the Member for the year the Member's account is first opened and the year(s) where no contribution has been made.
This document is prepared by Affin Hwang Asset Management Bhd (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer invitation to subscribe or purchase any securities. The information
contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future performance. Prices and
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Disclosure Document (RDD) dated 22 September
2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understand the contents of the PHS and the RDD before
investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RDD Investors should also consider the fees and charges involved. A copy of the PHS and the RDD can
be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
07
Affin Hwang PRS Moderate Fund

(formerly known as Hwang PRS Moderate Fund)
A Fund that seeks income and capital growth from its investments to facilitate the accumulation of retirement savings for Members' retirement needs.
Fund Category
Core (Moderate)
Benchmark
100 Index + 30% Dow
Jones/Asia Pacific Select
Dividend 30 Index + 40%
Maybank 12-Month FD Rate
Launch Date / IOP
Maturity Date
N/A
Financial Year End
31 July
Subscription
Cash

:
:
:
:
:
:
:
:
:
:
:

Total
1 Month
1 Year
3 Year
Return(%)
Fund
0.9
6.8
N/A
-1.4
1.1
Benchmark
N/A
130
125
Name of Scheme
Scheme
120
Source: Lipper
PRSM
115
Annualised
Return(%)
Fund
Benchmark
110
105
Benchmark
Mar 13
Jun 13
Oct 13
Jan 14
May 14
Aug 14
Nov 14

Source: Lipper

Affin Hwang Select Bond Fund
Affin Hwang Select Dividend Fund
Affin Hwang Select Asia (Ex Japan)
Opportunity Fund
Affin Hwang Select Balanced Fund
Fees by the PPA

Annual Fee (2)
RM8.00 per annum
1.5% per annum
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
7.3
4.3
Calendar Year
Return(%)
Fund
Benchmark
Year To
Date
5.9
-0.2
2013
7.4
7.9
2012
1.4
1.2
2011
-
Gross Distribution
(sen)
1.50
1.50
Yield
(%)
3.0
2.8
Source: Lipper

32.7%
25.1%
23.6%
17.2%
Sales Charge
Not applicable
Redemption Charge
Not applicable
1 Year
6.8
1.1
Source: Lipper
100
95
Nov 12
Since
Inception
15.3
8.9

30 November 2014*
2013
2014
(1)
Distribution Policy : Distribution of income, if any, would be on semi-annual

basis
Country Allocation of Underlying Asset as at

30 November 2014*
42.4%
Malaysia
47.9%
Equities
Fixed Income
Instruments
Money Market
Instruments
Cash & Cash
Equivalents
Singapore
43.6%
0.2%
8.4%
5.1%
Hong Kong
4.6%
Australia
Minimum Investment
RM100
6.9%
Indonesia
Korea
4.1%
2.8%
Thailand
2.4%
Others
2.1%
Minimum Subsequent
Investment
RM50
21.4%
US
8.4%
Fund Size
RM12.6 million
NAV Per Unit
RM0.5454
(1)
(2)
08
Affin Hwang PRS Conservative Fund

(formerly known as Hwang PRS Conservative Fund)
A Fund that aims to provide Members with a capital preservation for their retirement needs.
Fund Category
Core (Conservative)

:
:
:
:
Benchmark
Maybank 12-Month Fixed
Deposit Rate
Launch Date / IOP
Maturity Date
N/A
Financial Year End
31 July
Subscription
Cash
Sales Charge
Not applicable
:
:
:
:
:
:
:

Total
1 Month
1 Year
3 Year
Return(%)
Fund
-0.2
3.7
N/A
0.3
3.2
Benchmark
N/A
115
Name of Scheme
Scheme
PRSC
110
Source: Lipper
105
Benchmark
100

1.3% per annum
Minimum Investment
RM100
Minimum Subsequent
Investment
RM50
Annualised
Return(%)
Fund
Benchmark
1 Year
3.7
3.2
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
4.3
3.2
Year To
Date
2.3
2.9
2013
6.1
3.2
2012
0.4
0.3
2011
-
Gross Distribution
(sen)
1.00
1.00
Yield
(%)
2.0
1.9
Source: Lipper
95
Nov 12
Mar 13
Jun 13
Oct 13
Jan 14
May 14
Aug 14
Nov 14

Source: Lipper

Affin Hwang Aiiman Income Plus Fund
Affin Hwang Aiiman Growth Fund
Affin Hwang Enhanced Deposit Fund
0% Orix Leasing Malaysia (30.04.15)
0% RHB Capital Bhd (07.05.15)

30 November 2014*
Fixed Income
Instruments
Source: Lipper
2013
2014
(1)

basis
58.9%
Money Market
Instruments
23.2%
Equities
Cash & Cash
Equivalents
Calendar Year
Return(%)
Fund
Benchmark

42.2%
17.0%
10.5%
10.1%
10.1%
Redemption Charge
Not applicable
Fees by the PPA
Annual Fee (2)
RM8.00 per annum
Since
Inception
8.9
6.5
14.2%
3.8%
Fund Size
RM4.9 million
NAV Per Unit
RM0.5241
(1)
(2)
09
Affin Hwang Aiiman PRS Shariah Growth Fund

(formerly known as Hwang AIIMAN PRS Shariah Growth Fund)
A Fund that facilitate the accumulation of Shariah-compliant retirement savings by Members for their retirement needs, the Fund aims to generate capital
growth through investments in a collective investment scheme that invests primarily in Shariah-compliant equities.
Name of Scheme
Scheme


Total
Return(%)
1 Month
1 Year
3 Year
Fund
-2.0
5.3
N/A
-2.3
2.4
Benchmark
N/A
:
145
:
:
:
Benchmark
FTSE Bursa Malaysia Emas
Shariah Index
Launch Date / IOP
Maturity Date
N/A
:
:
:
:
:
:
:
APRSSG
Fund Category
Feeder (Equity)
Source: Lipper
135
Annualised
Return(%)
Fund
Benchmark
125
115
Benchmark
95
Nov 12
Mar 13
Jun 13
Oct 13
Jan 14
May 14
Aug 14
Nov 14

Source: Lipper
Subscription
Cash
Target Fund Holding as at 30 November 2014*

Calendar Year
Return(%)
Fund
Benchmark
5 Year
N/A
N/A
Since
Inception
12.6
8.5
Year To
Date
2.8
-0.1
2013
21.7
13.3
2012
1.6
4.3
2011
-
Gross Distribution
(sen)
2.00
3.00
Yield
(%)
3.9
5.0
2013
2014
(1)
Redemption Charge
Not applicable
Minimum Investment
RM100
3 Year
N/A
N/A
Source: Lipper
98.5%
Sales Charge
Not applicable

1.8% per annum
1 Year
5.3
2.4
Source: Lipper
105
Financial Year End

31 July
Fees by the PPA

Annual Fee (2)
RM8.00 per annum
Since
Inception
27.2
18.0
Target Fund Asset Allocation as at

30 November 2014*
Equities
Cash & Cash

Equivalents
98.5%
1.5%
Minimum Subsequent
Investment
RM50
As at 30 Nov 2014*
Fund Size
RM21.4 million
NAV Per Unit
RM0.5855
(1)
(2)
10
Affin Hwang Select Asia (ex Japan) Quantum Fund

(formerly known as Hwang Select Asia (ex Japan) Quantum Fund)
A total return fund that seeks to capture the high growth of developing companies within the Asia (ex-Japan) region.
Fund Category
Equity

Fund Type
Growth
Launch Date / IOP

15 April 2004 / RM0.50
Benchmark
MSCI AC Asia (ex-Japan) Small
Cap Index
350

Total
Return(%)
1 Month 1 Year
3 Year
0.6
10.6
73.7
Fund
1.1
7.5
34.5
Benchmark
(2)
300
Since
Inception
208.2
60.7
Source: Lipper
SAQF
250
Annualised
Return(%)
Fund
Benchmark
200
150
1 Year
10.6
7.5
3 Year
20.2
10.4
5 Year
20.4
3.4
Since
Inception
11.2
4.6
Year To
Date
10.5
5.6
2013
21.5
12.3
2012
27.4
15.1
2011
6.2
-26.1
Gross Distribution
(sen)
5.00
5.00
Yield
(%)
5.9
4.8
Source: Lipper
100
Benchmark
Maturity Date
N/A
Financial Year End
31 December
50
May 04
Jun 06
Jul 08
Sep 10
Oct 12
Nov 14
May 2004 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of Units may
go down as well as up. Past performance is not indicative of future performance.
Source: Lipper
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
Initial Sales Charge

Max 5.5% of the NAV per unit
Subscription
Cash
1.5% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Repurchase Charge
Nil
As at 30 November 2014
Fund Size
RM164.5 million
NAV Per Unit
RM1.3369
Overall rating**

Equities
BGF Retail Co Ltd
Elnusa Tbk Pt
Bekasi Fajar Indus Estate Tbk
Berjaya Food Bhd
Capitaretail China Trust
Religare Health Trust
ISEC Healthcare Ltd
Allianz Malaysia Bhd
Eastern & Oriental Bhd
Aeon Credit Services M Bhd

%
4.4%
4.2%
4.1%
4.0%
3.8%
3.7%
3.6%
3.3%
3.1%
2.9%
Sector Allocation as at 30 November 2014*

Financials
(1)
Distribution Policy : Incidental
Country Allocation as at 30 November 2014*
11.6%
Indonesia
16.2%
15.9%
Oil & Gas
9.2%
Singapore
Consumer
Services
9.0%
Korea
Industrials
Health Care
7.9%
5.4%
Cash & Cash

Equivalents
26.9%
Malaysia
24.3%
Consumer
Goods
2012
2013
32.7%
4.4%
Philippines
2.2%
China
1.7%
Cash & Cash

Equivalents
32.7%
* The data provided above are that of the Fund and are a percentage of NAV as at 30 November 2014. All figures are subject to frequent changes on a daily basis.
**The Morningstar Rating is an assessment of a Fund's past performance-based on both return and risk-which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment
decision.
(1)
The Fund is not expected to make distribution. However, incidental distribution may be declared wheneveris appropriate. Where a distribution is declared, investors are advised that following the issue of additional Units/distribution,
the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are calculated based on the total dividend payout/NAV at the start of the calendar year.
(2)
From inception to 23 June 2006, the Kuala Lumpur Emas Index was used as benchmarkuntil it was discontinued by the exchangeas of 26 June 2006. The Benchmark was replaced by the FTSE Bursa Malaysia Small-Cap Index from
26 June 2006 onwards. As of 4 February 2008, MSCI AC Asia ex-Japan Small Cap Index was used as the Benchmark as the Fund assumed its new mandate.
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 9.6 and is classified as Moderate (source: Lipper). Moderate includes Funds with VF that are above 7.860 but not more than 10.560.
The VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio
may have changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.
This document is prepared by Affin Hwang Asset Management Bhd (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer or invitation to subscribe or purchase any securities. The
information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future
performance. Prices and distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus
(RMP) dated 22 September 2014 and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its
contents. Investors are advised to read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the
PHS and the Prospectuses. Investors should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if
in doubt, investors should seek independent advice.
11
Hwang Asean Flexi Fund

A mixed asset fund that seeks to provide capital appreciation and regular income over the medium to long term period via investments in the ASEAN region.
Fund Category
Mixed-asset

Total
Return(%)
1 Month
1 Year
3 Year
Fund Type
Growth & Income
Benchmark
50% FTSE/ASEAN 40 Index (for
equity investments) + 50% JACI
Investment Grade Index (for fixed
income investments)
Since
Inception
"Not applicable as the Fund is less than one year"
Annualised
Return(%)
1 Year
3 Year
Since
Inception
5 Year
Launch Date / IOP

8 September 2014 / RM0.50
Calendar Year
Return(%)
Maturity Date
N/A
Year To
Date
2013
2012
2011
Financial Year End

30 November
Subscription
Cash

Bonds
Coupon Maturity Date
Issuer
PTT Exploration & Prod
4.88%
18.06.19
SBB Capital Corp
6.62%
02.11.15

%
4.9%
1.5%
Equities
Tenaga Nasional Bhd
Westports Holdings Bhd
Hong Leong Bank Bhd
ISEC Healthcare Ltd
%
4.4%
4.0%
3.8%
3.7%
3.4%
(1)
Distribution Policy : Distribution of income, if any, would be on annual

basis

1.8% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100

Repurchase Charge
1.0% of the NAV per Unit for any
investment within the first 6
months.
Fund Size
RM70.4 million
Financial
26.0%
Telecomm
8.1%
Bonds
Utilities
Oil & Gas
33.3%
Singapore
9.5%
Industrials
Health Care
Malaysia
12.4%
Consumer Services
Consumer Goods
NAV Per Unit

RM0.5078
17.9%
9.6%
Indonesia
6.4%
Thailand
4.8%
Philippines
4.4%
3.4%
Hong Kong
8.0%
6.3%
2.2%
2.4%
22.6%
Credit Profile as at 30 November 2014*

BBB^^
BB^^
Cash & Cash

Equivalents
22.6%
76.6%
23.4%
^^Foreign bonds rated either by Standard & Poor's or Moody's

The Credit Profile above are a percentage of the Fund's fixed income portion only.
* The data provided above is that of the Fund and is a percentage of NAV as at 30 November 2014 . All figures are subject to frequent changes on a daily basis
The distribution is subject to availability of income, the Fund will distribute income on an annual basis after the end of the first financial year of the Fund.
(1)
This document is prepared by Affin Hwang Asset Management Bhd (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer or invitation to subscribe or purchase any securities. The information
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus and Supplemental Prospectus dated 8 September 2014
has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understand the contents of the PHS and the Prospectuses before
investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors should also consider the fees and charges involved. A copy of the PHS and the
Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
12
Affin Hwang Select Asia (Ex Japan) Opportunity Fund

(formerly known as Hwang Select Asia (ex Japan) Opportunity Fund)
An equity fund that provides exposure to prevailing opportunities and themes through investments within the Asian (ex Japan) region.
Fund Category
Equity

190
Fund Type
Growth
Launch Date / IOP

19 July 2006 / RM0.50
(1)
170
Benchmark
MSCI AC Asia ex Japan Index
130
Annualised
Return(%)
Fund
Benchmark
110
90
Financial Year End

31 January
50
Apr 08
Dec 09
Jul 11
Mar 13
1 Year
6.6
8.9
3 Year
12.0
9.9
5 Year
2.9
4.9
Since
Inception
1.9
0.7
Year To
Date
6.4
8.3
2013
6.2
8.2
2012
23.9
13.8
2011
-14.4
-6.3
Gross Distribution
(sen)
5.00
Yield
(%)
6.9
Source: Lipper
Benchmark
Aug 06
Since
Inception
17.1
5.9
Source: Lipper
SAOF
150
70
Maturity Date
N/A

Total
Return(%)
1 Month
1 Year
3 Year
1.9
6.6
40.6
Fund
2.9
8.9
32.7
Benchmark
Nov 14
August 2006 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper

Subscription
Cash
1.5% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Repurchase Charge
Nil

Equities
Tencent Holdings Ltd
Alibaba Group Holding Ltd
CJ Korea Express Co Ltd
Digi. com Bhd
Bumitama Agri Ltd
BGF Retail Co Ltd
Total Access Communication Pcl

%
4.4%
4.3%
4.1%
3.9%
3.5%
3.3%
3.2%
3.1%
3.0%
3.0%
NAV Per Unit

RM0.5101
Distribution Policy : Incidental
Malaysia
15.0%
Consumer Goods
13.5%
Telecomm
10.3%
Technology
6.7%
5.4%
Health Care
3.0%
Utilities
2.9%
Indonesia
12.7%
China
12.6%
8.3%
Singapore
7.7%
Taiwan
Others
12.6%
9.6%
Hong Kong
Thailand
27.3%
Korea
7.2%
Consumer Services
Oil & Gas
(2)
Industrials
Fund Size
RM122.4 million
2008
4.6%
2.8%
1.8%
12.6%
* The data provided above are that of the Fund and are a percentage of NAV as at 30 November 2014 . All figures are subject to frequent changes on a daily basis.
(1)
As at 15 June 2012, the Benchmark was replaced by the MSCI AC Asia Ex Japan Index.
(2)
The Fund is not expected to make distribution. However, incidentaldistribution may be declared whenever is appropriate. Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the
NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are calculated based on the total dividend payout/NAV at the start of the calendar y
contained herein has been obtained from sources believed in good faith to be reliable, however, no guaranteeis given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future performance. Prices and
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus (RMP) dated 22 September
2014 and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised
to read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors
should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek
independent advice.
13

(formerly known as Hwang Select Opportunity Fund)
An unconstrained equity fund, anchored by Malaysian stocks with an Asian focus that attempts to provide absolute returns across
market cycles.
Fund Category
Equity


Total
Return(%)
1 Month
1 Year
3 Year
0.3
6.3
57.8
Fund
-2.3
-0.6
23.8
Benchmark
Fund Type
Growth
Benchmark
FTSE Bursa MalaysianTop 100
Index (FBM100)
Launch Date / IOP
Maturity Date
N/A
Financial Year End
31 July

Cash Sales
EPF Sales
Subscription
Cash / EPF
1.5% per annum
790
690
SOF
590
Source: Lipper
490
Annualised
Return(%)
Fund
Benchmark
390
290
190
Benchmark
90
Sep 01
Dec 03
Feb 06
Apr 08
Jul 10
Sep 12
September 2001 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper

Equities
Tenaga Nasional Bhd
Axiata Group Bhd
Hong Leong Bank Bhd
QL Resources Bhd
Berjaya Food Bhd
Aeon Credit Services M Bhd
BGF Retail Co Ltd
Repurchase Charge
Nil
Fund Size
RM781.3 million
NAV Per Unit
RM0.9591
3 Year
16.4
7.4
5 Year
15.2
8.3
Since
Inception
15.8
8.8
Year To
Date
4.8
-2.9
2013
21.3
11.4
2012
21.7
9.6
2011
6.6
1.9
%
5.8%
4.8%
4.8%
4.2%
3.6%
2.7%
2.7%
2.6%
2.6%
2.5%
Income Distribution History (past 10 years)

Gross Distribution
(sen)
10.00
2005
2006
8.00
2007
12.00
2008
10.00
2009
2.00
2010
5.00
2011
5.00
2012
5.10
2013
10.00
2014
5.00
Yield
(%)
11.5
12.1
15.3
11.7
4.4
7.3
6.5
6.6
11.4
5.2
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
(1)

Financials

22.9%
Industrials
Malaysia
50.1%
14.5%
Consumer Goods
China
9.4%
Telecomm
Indonesia
8.2%
Utilities
5.8%
Consumer Services
5.6%
Oil & Gas
4.4%
Technology
4.3%
Health Care
Overall rating**
1 Year
6.3
-0.6
Source: Lipper
Nov 14
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Since
Inception
593.5
205.2
2.7%
22.3%
8.9%
5.9%
Korea
4.9%
Singapore
4.3%
Hong Kong
2.0%
Thailand
1.6%
22.3%
* The data provided above is that of the Fund and is a percentage of NAV as at 30 November 2014 . All figures are subject to frequent changes on a daily basis.
**The Morningstar Rating is an assessment of a Fund's past performance-based on both return and risk-which shows how similar investments compare with their competitors. A high rating alone is insufficient basis for an investment decision.
(1)
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 8.3 and is classified as Moderate (source: Lipper). Moderate includes Funds with VF that are above7.860 but not more than 10.560.
The VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio may have
changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus dated 22 September 2014 and
Supplemental Master Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and
understand the contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors should also
consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
14
Affin Hwang Select Asia Pacific (ex Japan) REITs and Infrastructure Fund
(formerly known as Hwang Asia Pacific (ex Japan) REITs and Infrastructure Fund)
A mixed assets fund that aims to provide a combination of income and growth through investments in the REITs and infrastructure sector within the Asia
Pacific (ex Japan) region.
Fund Type
Income and Growth
Benchmark
50% MSCI AC Asia ex Japan
Infrastructure Index + 50%
Bloomberg Asia REIT Index
Launch Date / IOP
25 April 2007 / RM0.50
Maturity Date
N/A
Financial Year End
30 April
Max 5.5% of the NAV per Unit
Subscription
Cash
1.8% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Repurchase Charge
Nil
Fund Size
RM109.4 million
NAV Per Unit
RM0.4545

120
Fund Category
Mixed Assets
110

Total
Return(%)
1 Month
1 Year
3 Year
Fund
3.2
15.2
49.7
Benchmark
2.6
14.6
35.7
(2)
Benchmark
Since
Inception
11.4
12.2
Source: Lipper
100
90
Annualised
Return(%)
Fund
Benchmark
80
70
SAPRIF
60
1 Year
15.2
14.6
3 Year
14.4
10.7
5 Year
7.7
6.3
Since
Inception
1.4
1.5
Year To
Date
14.0
14.0
2013
8.5
6.2
2012
20.3
12.0
2011
-4.4
-1.6
Gross Distribution
(sen)
0.50
5.00
1.50
Yield
(%)
1.1
10.7
3.6
Source: Lipper
50
May 07
Aug 08
Nov 09
Feb 11
May 12
Aug 13
Nov 14
May 2007 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper

Equities
Tenaga Nasional Bhd
Sunway REIT
Frasers Commercial Trust
Fortune REIT
Mapletree Greater China
Airports Of Thailand Pcl
Yinson Holdings Bhd
PT Telekomunikasi Indonesia
6.8%
6.2%
6.1%
5.8%
4.6%
4.5%
4.4%
4.3%
4.2%
4.1%
Financials
(1)
basis

Malaysia
28.7%
Singapore
17.0%
Utilities
Cash & Cash

Equivalents
2008
2013
2014
50.7%
Industrials
Oil & Gas
Source: Lipper
Telecomm
Calendar Year
Return(%)
Fund
Benchmark
26.6%
Thailand
8.7%
Philippines
8.1%
Indonesia
8.1%
10.6%
6.3%
1.3%
Hong Kong
14.0%
5.8%
14.0%
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are
calculated based on the total dividend payout/NAV at the start of the calendar year
(2)
As at 15 June 2012, the Benchmark was replaced by the 50% MSCI AC Asia ex Japan Infrastructure Index and 50% Bloomberg Asia REIT Ind
dated 22 September 2014 and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents.
Investors are advised to read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the
Prospectuses. Investors should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt,
investors should seek independent advice.
15

(formerly known as Hwang Select Dividend Fund)
An income driven, absolute return focused fund that aims for capital appreciation and semi annual income distribution through
investments in high dividend yielding equities and future potential dividend generating equities .
Fund Type
Income & Growth
Benchmark
100 Index + 30% Dow Jones/Asia
Pacific Select Dividend 30 Index

SDF
Annualised
Return(%)
Fund
Benchmark
120
Maturity Date
N/A
Financial Year End
30 September
80
Apr 11
Benchmark
Mar 12
Jan 13
Dec 13

1.5% per annum
Minimum Investment
RM1,000
Subscription
Cash / EPF
Minimum Subsequent
Investment
RM100
Repurchase Charge
Nil
Fund Size
RM219.9 million
NAV Per Unit
RM0.6440
Nov 14
5 Year
N/A
N/A
Since
Inception
12.1
5.0
Year To
Date
8.8
-2.7
2013
10.9
10.9
2012
28.0
10.6
2011
-2.0
-0.7
Gross Distribution
(sen)
3.10
4.00
3.00
Yield
(%)
6.2
6.7
4.8

%
6.4%
4.6%
4.3%
4.3%
4.2%
4.0%
2.9%
2.7%
2.4%
2.4%
2012
2013
2014
(1)

basis

Malaysia
Indonesia
8.9%
Korea
48.1%
5.7%
5.2%
7.9%
Utilities
Telecomm
4.6%
Consumer Services
4.3%
Oil & Gas
3.9%
Other
3 Year
16.3
6.8
Source: Lipper
12.9%
Industrials
Health Care
Calendar Year
Return(%)
Fund
Benchmark
27.5%
Financials
Consumer Goods
1 Year
10.7
-0.6
Source: Lipper
April 2011 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper

Equities
Tenaga Nasional Bhd
Berjaya Auto Bhd
IJM Land Bhd
Malayan Banking Bhd
Hong Leong Financial Group Bhd
Reach Energy Bhd
Airports of Thailand PCL
Spritzer Bhd

Cash Sales
EPF Sales
Since
Inception
51.4
20.2
Source: Lipper
140
100
Launch Date / IOP

28 March 2011 / RM0.50

Total
Return(%)
1 Month
1 Year
3 Year
Fund
-0.1
10.7
57.3
Benchmark
-2.4
-0.6
22.4
160
Fund Category
Equity
2.2%
1.5%
26.3%
Singapore
4.0%
Philippines
3.8%
Thailand
3.5%
China
1.9%
Hong Kong
1.5%
26.3%
Overall rating**
decision.
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distributionNAV to ex-distribution NAV. The yield of the distributions are calculated
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 6.4 and is classified as Low (source: Lipper). Low includes Funds with VF that are above 1.115 but not more than 7.860.
The VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio may
have changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Prospectus (RP) dated 22 September 2014 has
been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of the PHS and the RP before investing.
Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RP. Investors should also consider the fees and charges involved. A copy of the PHS and the RP can be
obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
16

(formerly known as Hwang Select Balanced Fund)
An absolute return focused fund that targets to provide a balance between high level of cash flow as well as growth, through a
mixture of investments in Malaysian and foreign fixed income and equities.
Fund Category
Balanced

335
Fund Type
Growth and Income
Launch Date / IOP

28 July 2003 / RM0.50
Maturity Date
N/A
Financial Year End
30 June
Cash Sales
EPF Sales
Subscription
Cash / EPF
1.5% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Repurchase Charge
Nil
295
Benchmark
50% FBM Top 100 Index + 50%
Maybank 12-Month Fixed Deposit
Rate
SBAF
Annualised
Return(%)
Fund
Benchmark
215
175
1 Year
3.2
1.3
3 Year
9.7
5.3
5 Year
11.0
5.8
Since
Inception
10.0
5.5
Year To
Date
1.8
0.0
2013
11.1
7.3
2012
13.7
6.4
2011
7.8
2.7

Gross Distribution
(sen)
4.00
2005
2.50
2006
5.00
2007
2008
5.00
5.00
2009
5.00
2010
5.00
2011
5.10
2012
3.00
2013
2.00
2014
Yield
(%)
7.5
5.4
9.3
8.2
11.0
9.1
8.3
8.5
4.8
3.0
Source: Lipper
Benchmark
135
95
Aug 03
Jul 05
May 07
Apr 09
Feb 11
Jan 13
Nov 14

distributions into the Fund, gross investment based in RM. The value of Units may go down
as well as up. Past performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
Public Finance Bhd
7.50%
05.06.59
WCT Holdings Bhd
2.50%
28.12.15
Pacific Radiance Ltd
4.30%
29.08.18
Edaran SWM Sdn Bhd
4.90%
05.10.16
BGSM Mgmt Sdn Bhd
7.10%
28.12.22
%
2.1%
1.3%
1.2%
1.1%
1.1%
Equities
Tenaga Nasional Bhd
Hong Leong Bank Bhd
Axiata Group Bhd
QL Resources Bhd
%
3.8%
2.5%
2.3%
2.1%
2.0%

Bond
Source: Lipper
(1)
Distribution Policy : Distribution of income, if any, would be on semiannual basis
6.6%
BBB^^
Oil & Gas
5.9%
Others
5.1%
Utilities
3.8%
Consumer Services
3.4%
Other
3.3%

Maturity
Date
12.0%
AAA
9.3%
Industrials
Telecomm
57.1%
AA
13.2%
Financials
Coupon
Calendar
Year
Fund
Benchmark
42.2%
Consumer Goods
NAV Per Unit

RM0.6517
Portfolio Duration
3.7 years
Source: Lipper
255
Fund Size
RM531.8 million
Portfolio Yield
4.1%

Total
Since
Return(%)
1 Month
1 Year 3 Year Inception
Fund
-0.2
3.2
31.9
208.8
Benchmark
-1.0
1.3
16.9
97.0
7.2%
10.5%
8.1%
P1
2.0%
A^^
1.9%
B^^
1.4%
Cash
7.0%
(%)
^^ Bonds rated either by Standard & Poor's or Moody
Overall rating**
decision.
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 5.3 and is classified as Low (source: Lipper). Low includes Funds with VF that are above 1.115 but not more than 7.860.
(1)
(RMP) dated 22 September 2014 and Supplemental Master Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its
contents. Investors are advised to read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS
and the Prospectuses. Investors should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt,
investors should seek independent advice.
17
Affin Hwang Select AUD Income Fund_AUD class

(formerly known as Hwang AUD Income Fund_AUD class)
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as growth, through mixture of investments in
Australian fixed income and equities.
[AUD Class - Represents a Class of Units denominated in Australian Dollars (AUD)]
Fund Type
Income & Growth
Benchmark
80% Reserve Bank of Australia
Average Rate of Term Deposits +
20% Dow Jones Australia Select
Dividend 30 Index


Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.7
7.3
24.1
Benchmark
-0.9
2.5
15.9
140
Fund Category
Mixed Assets
130
Since
Inception
30.8
18.7
Source: Lipper
SAUDIF
120
Annualised
Return(%)
Fund
Benchmark
110
Benchmark
100
1 Year
7.3
2.5
3 Year
7.5
5.0
5 Year
N/A
N/A
Since
Inception
7.5
4.7
Year To
Date
7.0
2.0
2013
5.9
5.6
2012
9.7
7.4
2011
5.2
2.7
Gross Distribution
(cents)
2.50
2.00
0.75
Yield
(%)
2.7
3.6
1.3
Source: Lipper
Launch Date / IOP

18 March 2011 / AUD0.50
Maturity Date
N/A
90
Mar 11
Feb 12
Jan 13
Dec 13
Nov 14
March 2011 to November 2014 NAV-NAV prices and assuming reinvestment of distributions
into the Fund, gross investment based in AUD. The value of Units may go down as well as
up. Past performance is not indicative of future performance.
Source: Lipper
Calendar
Year
Fund
Benchmark
Source: Lipper
Financial Year End

31 August
Subscription
Cash
1.5% per annum
Minimum Investment (1)
AUD5,000
Minimum Subsequent
Investment
AUD1,000
Repurchase Charge (2)
months.
Fund Size
AUD131.1 million
NAV Per Unit
AUD0.5952
Portfolio Yield
3.7%
Portfolio Duration
3.8 years

Bonds
Issuer
Australian Government
3.94%
21.04.37
CIMB Bank Bhd
4.38%
25.09.19
Crown Group Finance Ltd
4.50%
18.11.19
Lend Lease Finance Ltd
6.00%
13.05.20
ICICI Bank Ltd
6.13%
03.04.19

%
3.4%
3.4%
3.3%
2.8%
2.8%
Equities
Goodman Group
Orora Ltd
Telstra Corporation Ltd
Transurban Group
Sydney Airport
%
1.6%
1.6%
1.4%
1.2%
1.2%

Bond
Industrials
Financials
(3)

74.8%
BBB
44.1%
6.5%
4.8%
Telecomm
1.4%
Health Care
1.0%
Basic Materials
1.0%
Utilities
0.5%
Consumer Goods
0.5%
2012
2013
2014
30.0%
AA
AAA
Cash
9.6%
13.2%
5.0%
7.7%
* The data provided above are that of the Fund and are a percentage of NAV as a 30 November 2014 . All figures are subject to frequent changes on a daily basis.
(1)
To invest in the AUD Class, investors are required to have a foreign currency accout (Australian Dollars)with any financial institutions as all transactions relating to the AUD Class will ONLY be made via telegraphic transfers.
(2)
Maximum of 1.00% of the NAV per Unit for any repurchase within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a repurchase. The Cooling-off Period for a qualified
investor is within 6 Business Days from the day the initial application for Units is received by the Manager.
(3)
based on the total dividend payout/NAV at the start of the calendar yea
18
Affin Hwang Select AUD Income Fund_RM class

(formerly known as Hwang AUD Income Fund_RM class)
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as growth, through mixture of
investments in Australian fixed income and equities.
[RM Class - Represents a Class of Units denominated in Ringgit Malaysia (RM)]
Fund Type
Income & Growth
Benchmark
80% Reserve Bank of Australia
Average Rate of Term Deposits +
20% Dow Jones Australia Select
Dividend 30 Index


Total
Since
Return(%)
1 Month
Fund
-0.1
5.1
9.4
28.7
Benchmark
-1.7
0.4
2.2
18.9
145
Fund Category
Mixed Assets
SAUDIF
135
Source: Lipper
125
Annualised
Return(%)
Fund
Benchmark
115
Benchmark
105
95
Launch Date / IOP

18 March 2010 / RM0.50
Maturity Date
N/A
Financial Year End
31 August
Subscription
Cash
1.5% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
NAV Per Unit

RM0.5521
Portfolio Yield
3.7%
5 Year
N/A
N/A
Since
Inception
5.6
3.8
Year To
Date
5.4
0.4
2013
-2.5
-2.9
2012
7.4
5.4
2011
10.4
6.8

Gross Distribution
(sen)
2.50
2011
2.55
2012
2013
2.00
2014
1.50
Yield
(%)
4.7
4.6
3.5
2.8
Source: Lipper
Apr 10
Mar 11
Feb 12
Jan 13
Dec 13
Nov 14
April 2010 to November 2014 NAV-NAV prices and assuming reinvestment of distributions
into the Fund, gross investment based in RM. The value of Units may go down as well as up.
Past performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
Australian Government
3.94%
21.04.37
CIMB Bank Bhd
4.38%
25.09.19
Crown Group Finance Ltd
4.50%
18.11.19
Lend Lease Finance Ltd
6.00%
13.05.20
ICICI Bank Ltd
6.13%
03.04.19
%
3.4%
3.4%
3.3%
2.8%
2.8%
Equities
Goodman Group
Orora Ltd
Telstra Corporation Ltd
Transurban Group
Sydney Airport
%
1.6%
1.6%
1.4%
1.2%
1.2%
Bond
Industrials
Financials
Fund Size
RM52.5 million
3 Year
3.0
0.7
85

months.
1 Year
5.1
0.4
Source: Lipper
(2)

74.8%
44.1%
BBB
6.5%
4.8%
Telecomm
1.4%
Health Care
1.0%
Basic Materials
1.0%
Utilities
0.5%
Consumer Goods
0.5%
Calendar
Year
Fund
Benchmark
30.0%
AA
AAA
Cash
9.6%
Portfolio Duration
3.8 years
13.2%
5.0%
7.7%
(1)
Maximum of 1.00% of the NAV per unit redeemed within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a redemption. The Cooling-off Period for a qualified investor is
within 6 Business Days from the day the initial application for Units is received by the Manager.
(2)
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 7.5 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.115 but not more than 7.860.
19
Affin Hwang Select SGD Income Fund_RM class

(formerly known as Hwang SGD Income Fund_RM class)
An income driven, absolute return focused fund that endeavours to provide steady income distribution through investments primarily in SGD-denominated
assets.
Fund Type
Income
Benchmark
70% 12-Month Singapore Banks
Average FD rate + 30%
Singapore's FTSE Straits Times
Index


Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.7
5.5
N/A
Benchmark
1.9
2.9
N/A
125
Fund Category
Mixed Assets
120
Source: Lipper
115
SSGDIF
110
Annualised
Return(%)
Fund
Benchmark
105
100
Benchmark
Maturity Date
N/A
Financial Year End
31 March
Subscription
Cash
1.5% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
90
Aug 12
Jan 13
May 13
Sep 13
Feb 14
Jun 14
Nov 14

Source: Lipper

Bonds
Issuer
Genting Singapore PLC
5.13%
12.09.17
Oversea-Chinese Bk Corp
3.15%
11.03.18
United Overseas Bk Ltd
3.15%
11.07.17
LMIRT Capital Pte Ltd
4.88%
06.07.15
Olam International Ltd
6.75%
29.01.15
Fund Size
RM231.4 million
NAV Per Unit
RM0.5478
Portfolio Yield
3.4%
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
6.2
3.2
%
4.9%
4.3%
2.7%
2.7%
2.6%
Equities
Singapore Telecom Ltd
Capitaland Ltd
OCBC Corp Ltd
Bumitama Agri Ltd
%
4.1%
3.5%
3.4%
3.3%
2.2%
Bonds
Year To
Date
5.4
2.2
2013
6.4
3.8
2012
2.4
1.2
2011
-
Gross Distribution
(sen)
1.00
1.50
Yield
(%)
2.0
2.8
Source: Lipper
2013
2014
(2)

62.1%
Financials
Calendar
Year
Fund
Benchmark

1.0% of the NAV per Unit for the
first 6 months from the date of
investment.
1 Year
5.5
2.9
Source: Lipper
95
Launch Date / IOP

01 August 2012/ RM0.50
Since
Inception
14.7
7.4
Others^^
54.3%
16.1%
Telecomm
4.1%
Consumer Goods
3.7%
BBB
26.1%
AA
Health Care
2.0%
Consumer Services
1.9%
Industrials
1.2%
P1
8.8%
15.1%
3.2%
1.3%
Portfolio Duration
3.5 years
^^ A large portion of the SGD-denominated bond universe does not have credit
rating.
(1)
Maximum of 1.00% of the NAV per unit for any repurchase request of Units within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a redemption.
(2)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV.
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Prospectus (RP) dated 22 September 201 4 has
20
Affin Hwang Select SGD Income Fund_SGD class

(formerly known as Hwang SGD Income Fund_SGD class)
An income driven, absolute return focused fund that endeavours to provide steady income distribution through investments primarily in SGD-denominated
assets.
[SGD Class - Represents a Class of Units denominated in Singapore Dollar (SGD)]
Fund Type
Income
Benchmark
70% 12-Month Singapore Banks
Average FD rate + 30%
Singapore's FTSE Straits Times
Launch Date / IOP
01 August 2012/ SGD0.50
Maturity Date
N/A
Financial Year End
31 March
Max 3.0% of NAV per Unit
Subscription
Cash
1.5% per annum
SGD5,000
Minimum Subsequent
Investment
SGD1,000
months.
Fund Size
SGD97.0 million
NAV Per Unit
SGD0.5324
Portfolio Yield
3.4%


Total
Return(%)
1 Month
1 Year 3 Year
Fund
-0.5
4.5
N/A
Benchmark
0.7
1.9
N/A
130
Fund Category
Mixed Assets
120
Since
Inception
10.6
3.5
Source: Lipper
SSGDIF
Annualised
Return(%)
Fund
Benchmark
110
100
Benchmark
90
Aug 12
Jan 13
May 13
Sep 13
Feb 14
Jun 14
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
4.5
1.5
Year To
Date
5.1
2.0
2013
2.9
0.3
2012
2.3
1.1
2011
-
Gross Distribution
(cents)
1.00
1.00
Yield
(%)
2.0
1.9
Source: Lipper
Nov 14

distributions into the Fund, gross investment based in SGD. The value of Units may go down
Source: Lipper
Calendar
Year
Fund
Benchmark
Source: Lipper

Bonds
Issuer
5.13%
12.09.17
Oversea-Chinese Bk Corp
3.15%
11.03.18
United Overseas Bk Ltd
3.15%
11.07.17
LMIRT Capital Pte Ltd
4.88%
06.07.15
6.75%
29.01.15
%
4.9%
4.3%
2.7%
2.7%
2.6%
Equities
Singapore Telecom Ltd
Capitaland Ltd
OCBC Corp Ltd
Bumitama Agri Ltd
4.1%
3.5%
3.4%
3.3%
2.2%
2013
2014
(3)

Bonds

62.1%
Financials
Others^^
54.3%
16.1%
Telecomm
4.1%
Consumer Goods
3.7%
Health Care
2.0%
Consumer Services
1.9%
Industrials
1.2%
1 Year
4.5
1.9
BBB
26.1%
AA
P1
15.1%
3.2%
1.3%
8.8%
Portfolio Duration
3.5 years
^^ A large portion of the SGD-denominated bond universe does not have credit
rating.
(1)
Investors are required to have a foreign currency account (Singapore Dollars) with any financial institutions as all transactions relating to the SGD Class will ONLY be made via telegraphic transfers.
(2)
Maximum of 1.00% of the NAV per unit for any repurchase request of Units within the first 6 months from the date of investment by Unit Holders. The exercise of a cooling-off right is not considered a redemption.
(3)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV.
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Prospectus(RP) dated 22 September 201 4 has
21
Affin Hwang Select Income Fund

(formerly known as Hwang Select Income Fund)
An income driven, absolute return focused fund that targets to provide a high level of cash flow as well as growth, through mixture of
investments in fixed income and equities globally with an Asian focus.
Fund Type
Income and Growth
Benchmark
70% JP Morgan Asia Credit
Investment Grade Index + 30%
Dow Jones/Asia Pacific Select
Dividend 30 Index
Launch Date / IOP
6 January 2005 / RM0.50
Maturity Date
N/A
Financial Year End
31 December
Subscription
Cash
1.2% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100


Total
Return(%)
1 Month
1 Year 3 Year
1.4
7.0
28.0
Fund
0.4
8.3
21.1
Benchmark
235
(2)
Fund Category
Fixed Income
215
Source: Lipper
195
SIF
175
Annualised
Return(%)
Fund
Benchmark
155
135
115
Benchmark
95
Jan 05
Jun 06
Nov 07
Apr 09
Aug 10
Jan 12
As at 30 November 2014
Fund Size
RM1,096.7 million

Bonds
Issuer
5.13%
29.03.49
Sompo Japan Ins Inc
5.33%
28.03.73
SBB Capital Corp
6.62%
29.11.49
Theta Capital Pte Ltd
6.13%
14.11.20
Malayan Banking Bhd
3.25%
20.09.22
%
3.2%
2.8%
2.2%
1.9%
1.9%
Equities
Tenaga Nasional Bhd
Hong Leong Financial Group Bhd
Malayan Banking Bhd
PT Telekomunikasi Indonesia
%
1.9%
1.7%
1.6%
1.5%
1.5%
NAV Per Unit

RM0.6837
Portfolio Yield
4.2%
Portfolio Duration
3.3 years
Financials
3 Year
8.6
6.6
5 Year
8.0
5.7
Since
Inception
7.9
5.0
Year To
Date
6.6
7.0
2013
2.9
7.2
2012
15.1
4.5
2011
5.6
2.9

Gross Distribution
(sen)
2.00
2005
3.50
2006
3.50
2007
0.50
2008
2.50
2009
2.50
2010
2011
2.53
2012
2.03
2.50
2013
1.50
2014
Yield
(%)
4.1
7.1
6.8
1.0
5.1
4.5
4.3
3.4
3.8
2.3
Nov 14
January 2005 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper
Bond
1 Year
7.0
8.3
Source: Lipper
Jun 13
Calendar
Year
Fund
Benchmark
Source: Lipper
(1)
Distribution Policy : Distribution of income, if any, would be on

quarterly basis
Currency Exposure as at 30 November 2014*

Repurchase Charge
Nil
Since
Inception
111.8
61.4
Ringgit Malaysia
71.5%
59.5%
US Dollar
10.2%
21.4%
Consumer Goods
5.0%
Indonesia Rupiah
5.3%
Industrials
4.1%
Singapore Dollar
4.5%
3.4%
Utilities
2.8%
Hong Kong Dollar
Telecomm
2.2%
Korean Won
2.1%
Health Care
1.9%
Philippine Peso
2.0%
2.3%
Thai Baht
1.8%
Currency Exposure for the Fund is shown after reflecting currency forward contracts
Overall rating**
(1)
(2)
As at 18 July 2013, the Benchmark was replaced by 70% JP Morgan Asia Credit Investment Grade Index and 30% Dow Jones/Asia Pacific Select Dividend 30 Index.
Based on the Fund's portfolio returns as at 31 October 2014, theVolatility Factor (VF) for this Fund is 4.3 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.115 but not more than 7.860.
This document is prepared by Affin Hwang Asset Management Berhad (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer or invitation to subscribe or purchase any securities. The
information contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future performance.
Prices and distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus (RMP) dated 22
September 2014 and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are
advised to read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses.
Investors should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek
independent advice
22
Affin Hwang Select Bond Fund_RM class

(formerly known as Hwang Select Bond Fund_RM class)
A global bond fund with Asian focus that seeks to provide a general level of income distribution and total returns from MYR perspective.
Fund Type
Income
Benchmark
JP Morgan Asia Credit
Investment Grade Index
Launch Date / IOP
28 July 2003 / RM0.50


Total
Return(%)
1 Month
1 Year 3 Year
Fund
1.0
8.1
23.0
Benchmark
1.7
12.0
21.5
(2)
195
Fund Category
Bond
Since
Inception
89.4
60.6
Source: Lipper
175
SBOF
155
Annualised
Return(%)
Fund
Benchmark
135
Benchmark
115
1 Year
8.1
12.0
3 Year
7.1
6.7
5 Year
6.1
5.2
Since
Inception
5.8
4.3
Year To
Date
7.3
10.9
2013
2.4
5.9
2012
11.2
3.2
2011
5.3
3.0

Gross Distribution
(sen)
2.50
2005
2.50
2006
2.50
2007
2008
1.75
2009
2.50
1.50
2010
2011
2.50
2012
2.50
2013
2.50
2014
1.50
Yield
(%)
4.7
4.7
4.6
3.2
4.7
2.7
4.3
4.3
4.0
2.5
Source: Lipper
95
Maturity Date
N/A
Financial Year End
30 June
Subscription
Cash
1.0% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Aug 03
Jun 05
May 07
Mar 09
Feb 11
Dec 12
Nov 14

Source: Lipper

Bonds
Issuer
Travellers Int Htl Gp Inc
5.75%
19.10.15
CLP Power HK Fin Ltd
4.25%
29.05.49
Franshion Brilliant Ltd
5.75%
19.03.19
6.13%
14.11.20
LS Finance Ltd
4.25%
16.10.22
DBNGP Fin Co Pty Ltd
6.00%
11.10.19
Shimao Property Hldgs Ltd
8.13%
22.01.21
SBB Capital Corp
6.62%
29.11.49
5.38%
06.11.19
New World China Land Ltd
Malayan Banking Bhd
3.25%
20.09.22
%
4.8%
4.6%
3.8%
3.7%
3.4%
3.2%
2.8%
2.8%
2.8%
2.7%

quarterly basis
Banks
NAV Per Unit

RM0.6391
Portfolio Yield
4.8%
Portfolio Duration
2.8 years
Overall rating**
19.0%
Utilities
8.4%
Oil & Gas

Financial Services
Insurance
Consumer Goods
Industrials
Government

22.1%
Real Estate
Fund Size
RM368.0 million
Source: Lipper
(1)

Repurchase Charge
Nil
Calendar
Year
Fund
Benchmark
BBB^^
23.1%
BB^^
21.2%
Others
6.9%
18.8%
A^^
3.5%
16.6%
AAA
2.9%
4.3%
AA^^
1.9%
4.2%
AA
0.9%
P1
0.3%
Cash
7.4%
3.7%
0.7%
7.4%

Malaysia Ringgit
US Dollar
Indonesia Rupiah
Australia Dollar
74.9%
21.1%
3.9%
0.1%
(1)
(2)
As at 18 July 2013, the Benchmark was replaced by the JP Morgan Asia Credit Investment Grade Index.
Based on the Fund's portfolio returns as at 31 October 2014 , the Volatility Factor (VF) for this Fund is 2.5 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.115 but not more than 7.860.
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus (RMP) dated 22 September 2014
and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read
and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors should
also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
23
Affin Hwang Select Bond Fund_USD Hedged class

(formerly known as Hwang Select Bond Fund_USD Hedged class)
A global bond fund with Asian focus that seeks to provide a general level of income distribution and total returns from USD perspective.
[USD Hedged-class - Represents a Class of Units denominated in US Dollar (USD)]
Fund Type
Income
Benchmark
JP Morgan Asia Credit
Investment Grade Index
Launch Date / IOP
18 July 2013 / USD0.50
Maturity Date
N/A
Financial Year End
30 June
Subscription
Cash
1.0% per annum
USD5,000
Minimum Subsequent
Investment
USD1,000
Repurchase Charge
Nil
Fund Size
USD1.8 million
NAV Per Unit
USD0.5144
Portfolio Yield
4.8%
Portfolio Duration
2.8 years


Total
Since
Return(%)
1 Month
Fund
0.8
5.9
N/A
3.4
Benchmark
0.8
8.5
N/A
10.3
115
Fund Category
Bond
Source: Lipper
110
Benchmark
Annualised
Return(%)
Fund
Benchmark
105
100
SBOF
95
Jul 13
Oct 13
Dec 13
Mar 14
Jun 14
Aug 14
Nov 14

Bonds
Issuer
Travellers Int Htl Gp Inc
5.75%
19.10.15
CLP Power HK Fin Ltd
4.25%
29.05.49
5.75%
19.03.19
6.13%
14.11.20
LS Finance Ltd
4.25%
16.10.22
DBNGP Fin Co Pty Ltd
6.00%
11.10.19
8.13%
22.01.21
SBB Capital Corp
6.62%
29.11.49
5.38%
06.11.19
New World China Land Ltd
Malayan Banking Bhd
3.25%
20.09.22
%
4.8%
4.6%
3.8%
3.7%
3.4%
3.2%
2.8%
2.8%
2.8%
2.7%
26.6%
22.1%
Banks
19.0%
Government
Year To
Date
5.3
9.0
2013
-1.8
1.2
2012
-
2011
-
Gross Distribution
(cents)
0.25
Yield
(%)
0.5
Source: Lipper
2014
(2)

quarterly basis
BBB^^
23.1%
BB^^
21.2%
Others
18.8%
A^^
6.9%
Oil & Gas
Industrials
Calendar
Year
Fund
Benchmark
8.4%
Utilities
Consumer Goods
Since
Inception
2.5
7.4
Consumer Services
Insurance
5 Year
N/A
N/A
Financial Services
3 Year
N/A
N/A
Source: Lipper
July 2013 to November 2014 NAV-NAV prices and assuming reinvestment of distributions
into the Fund, gross investment based in USD. The value of Units may go down as well as
up. Past performance is not indicative of future performance.
Source: Lipper
Real Estate
1 Year
5.9
8.5
3.5%
2.9%
1.9%
16.6%
AAA
4.3%
AA^^
4.2%
AA
0.9%
P1
0.3%
Cash
7.4%
3.7%
0.7%
7.4%

Malaysia Ringgit
US Dollar
Indonesia Rupiah
Australia Dollar
74.9%
21.1%
3.9%
0.1%
(1)
Investors are required to have a foreign currency account (US Dollars) with any financial institutions as all transactions relating to the USD class will ONLY be made via telegraphic transfers.
(2)
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus (RMP) dated 22 September
2014 and SupplementalMaster Prospectus dated 21 November 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to
read and understandthe contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors
should also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent
advice.
24

(formerly known as Hwang Enhanced Deposit Fund)
A money market fund that targets to provide enhanced yield over deposit rates while providing a high level of liquidity.
Fund Category
Money Market


Total
Return(%)
1 Month
1 Year
3 Year
Fund
0.3
3.2
9.6
Benchmark
0.2
1.9
5.6
Fund Type
Income
Benchmark
Maybank Overnight Repo Rate
Launch Date / IOP
18 April 2005 / RM1.00
145
135
Since
Inception
34.7
23.2
Source: Lipper
AHEDF
125
115
Benchmark
105
Annualised
Return(%)
Fund
Benchmark
1 Year
3.2
1.9
3 Year
3.1
1.9
5 Year
3.0
1.7
Since
Inception
3.2
2.2
Year To
Date
2.9
1.7
2013
3.1
2.0
2012
3.0
1.8
2011
2.9
1.7
Gross Distribution
(sen)
2.70
4.00
3.25
5.15
2.26
2.11
3.62
1.33
0.81
Yield
(%)
2.7
3.9
3.2
5.0
2.3
2.1
3.6
1.3
0.8
Source: Lipper
Maturity Date
N/A
Financial Year End
30 April
95
Apr 05
Nov 06
Jul 08
Feb 10
Sep 11
Apr 13
Nov 14
April 2005 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of Units
may go down as well as up. Past performance is not indicative of future
performance.
Source: Lipper
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper

Nil
Subscription
Cash / EPF
0.5% per annum
Minimum Investment
RM10,000
Minimum Subsequent
Investment
RM10,000
Repurchase Charge
Nil
At as 30 November 2014*
Fund Size
RM144.4 million
NAV Per Unit
RM1.0505
Portfolio Yield
4.0%
Portfolio Duration
129 days
P1
28.4%
AA
AAA
14.7%
5.8%
51.1%
Cash
2006
2007
2008
2009
2010
2011
2012
2013
2014
(1)
Distribution Policy : Distribution of income, if any, would be on monthly

basis
Maturity Profile as at 30 November 2014*

49.2%
0 - 3 months
23.2%
3 - 6 months
14.5%
6 - 9 months
11.7%
9 - 12 months
12 - 24 months
1.4%
(1)
Based on the Fund's portfolio returns as at 31 October 2014 , the Volatility Factor (VF) for this Fund is 0.1 and is classified as Very Low (source : Lipper). Very Low includes funds with VF that are not more than 1.115.
The VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio
may have changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.
(RMP) dated 22 September 2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe
contents of the PHS and the MP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RMP. Investors should also consider the fees and charges
involved. A copy of the PHS and RMP the can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
25

(formerly known as Hwang AIIMAN Growth Fund)
A total return fund that aims for capital appreciation through investment in Shariah-compliant Malaysian equities.
Fund Category
Equity

590
Fund Type
Growth
Benchmark
FBM Emas Shariah Index
Launch Date / IOP
8 October 2002 / RM0.50
490

Cash Sales
sales by IUTA (1)
for sales by IDC & UTC (1)
EPF Sales
Subscription
Cash / EPF
1.5% per annum
AGF
390
Annualised
Return(%)
Fund
Benchmark
290
Benchmark
90
Oct 02
Oct 04
Oct 06
Oct 08
Oct 10
Oct 12
Nov 14
October 2002 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper

Equities
Tenaga Nasional Bhd
Axiata Group Bhd
Digi.com Bhd
Genting Plantations Bhd
MISC Bhd
Gamuda Bhd
Telekom Malaysia Bhd
Dialog Group Bhd
%
8.0%
5.1%
4.2%
3.9%
3.9%
3.5%
3.4%
3.3%
3.2%
3.0%
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
Since
Inception
402.9
173.3
Source: Lipper
190
Maturity Date
N/A
Financial Year End
31 August

Total
Return(%)
1 Month
1 Year
3 Year
Fund
-2.0
6.3
54.6
Benchmark
-2.3
2.4
32.4
1 Year
6.3
2.4
3 Year
15.6
9.8
5 Year
14.0
9.1
Since
Inception
14.3
8.7
Year To
Date
3.3
-0.1
2013
24.5
13.3
2012
16.6
11.9
2011
4.7
2.4

Gross Distribution
(sen)
6.00
2005
4.00
2006
6.00
2007
5.00
2008
3.00
2009
3.00
2010
5.00
2011
3.10
2012
10.00
2013
5.00
2014
Yield
(%)
8.0
7.2
9.2
6.5
5.7
4.1
5.9
3.7
10.7
4.7
Source: Lipper
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
(2)

basis

Industrials
Repurchase Charge
Nil
20.1%
Financials^
14.7%
Telecomm
12.7%
Consumer Goods
Fund Size
RM508.4 million
12.1%
Oil & Gas
9.2%
Utilities
Consumer Services
NAV Per Unit

RM1.0434
8.0%
3.9%
Technology
1.2%
Health Care
1.2%
17.0%
Overall rating**
^
Shariah-compliant Financials which is inclusive of Property and REITs.
decision.
(1)
The maximum sales charge of 6.5% may be imposed by Institutional Unit Trust Agents (IUTA) and 5.5% by Internal Distribution Channel of the Management Company (IDC) and Unit Trust Consultants (UTC).
(2)
Where distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distributionNAV to ex-distribution NAV. The yield of the distributions are calculated
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 9.8 and is classified as Moderate (source: Lipper). Moderate includes Funds with VF that are above 7.860 but not more than 10.560.
information contained herein has been obtained from sources believed in good faith to be reliable, however, no guaranteeis given in its accuracy or completeness. Past performance of the Fund is not indicative of its future performance.
Prices and distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Master Prospectus (RMP) dated 22
September 2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of the PHS and
the RMP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RMP. Investors should also consider the fees and charges involved. A copy of the
PHS and the RMP can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
26
Affin Hwang Aiiman Select Income Fund

(formerly known as Hwang AIIMAN Select Income Fund)
An income and absolute return focused fund that aims to provide regular income stream through investment in sukuk and Shariah-compliant equities.
Fund Type
Income
Benchmark
70% 12-month Maybank General
Investment Account (GIA) + 30%
FTSE Bursa Malaysia EMAS
Shariah Index (FBMSHA)


Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.0
6.1
N/A
-0.5
3.0
N/A
Benchmark
120
Fund Category
Mixed Assets
115
Since
Inception
11.6
8.9
Source: Lipper
ASIF
110
105
Annualised
Return(%)
Fund
Benchmark
Benchmark
100
1 Year
6.1
3.0
3 Year
N/A
N/A
5 Year
N/A
N/A
Since
Inception
6.7
5.1
Year To
Date
4.9
2.1
2013
6.4
6.7
2012
-
2011
-
Gross Distribution
(sen)
1.00
Yield
(%)
1.9
Source: Lipper
Launch Date / IOP

1 March 2013 / RM0.50
Maturity Date
N/A
Financial Year End
31 March
Subscription
Cash
1.2% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100
95
Mar 13
Jun 13
Oct 13
Jan 14
Apr 14
Aug 14
Nov 14
March 2013 to November 2014 NAV-NAV prices and assuming reinvestment of distributions
into the Fund, gross investment based in RM. The value of Units may go down as well as up.
Source: Lipper

Sukuk
Issuer
Al-'Aqar Capital Sdn Bhd
4.35%
04.05.18
First Resource Ltd
4.45%
31.07.17
Gamuda Bhd
4.21%
26.10.18
GULF Investment Corp
5.10%
18.06.22
5.25%
01.03.16
%
5.4%
5.4%
5.1%
2.8%
2.7%
Equities
Tenaga Nasional Bhd
Axiata Group Bhd
Matrix Concepts Hldgs Bhd
Digi.com Bhd
Genting Plantations Bhd
3.0%
2.1%
1.8%
1.7%
1.7%
Fund Size
RM185.3 million
NAV Per Unit
RM0.5480
Portfolio Yield
4.3%
Portfolio Duration
3.8 years
Source: Lipper
2014
(1)

Repurchase Charge
Nil
Calendar
Year
Fund
Benchmark
Sukuk

62.1%
Telecomm
8.5%
Industrials
8.1%
Financials
5.1%
Consumer Goods
5.0%
Oil & Gas
3.3%
Utilities
3.0%
Technology
2.0%
2.8%
Ringgit Malaysia
88.0%
Singapore Dollar
4.4%
Indonesia Rupiah
3.4%
US Dollar
1.4%
Hong Kong Dollar
1.3%
Thai Baht
1.0%
Korean Won
0.5%
(1)
This document is prepared by Affin Hwang Asset Management Bhd (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer or invitation to subscribe or purchase any securities. The inform
contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not indicative of its future performance. Prices and
27

(formerly known as Hwang AIIMAN Income Plus Fund)
A local sukuk fund that looks to provide total returns over the medium to long term as well as a regular income distributions.
Fund Type
Income
Benchmark
12-month Maybank General
Investment Account (GIA) rate
Launch Date / IOP
28 June 2004 / RM0.50
Maturity Date
N/A
Financial Year End
31 August
Cash Sales
EPF Sales
Subscription
Cash / EPF
1.0% per annum
Minimum Investment
RM1,000
Minimum Subsequent
Investment
RM100

200
Fund Category
Bond
(1)
185
AIPF
Source: Lipper
170
155
140
Fund Size
RM274.6 million
NAV Per Unit
RM0.5578
Portfolio Yield
4.5%
Portfolio Duration
4.4 years
Annualised
Return(%)
Fund
Benchmark
Benchmark
125
110
1 Year
3.3
3.2
3 Year
3.6
3.2
Year To
Date
3.1
3.0
2013
2.2
3.2
Since
5 Year Inception
5.0
6.0
3.7
4.6
Source: Lipper
95
Jul 04
Feb 07
Sep 09
Apr 12
Nov 14
July 2004 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper

Sukuk
Issuer
5.25%
01.03.16
First Resource Ltd
4.30%
08.12.17
GII
4.44%
22.05.24
Al-'Aqar Capital SB
4.35%
04.05.18
Edaran SWM SB
5.00%
05.10.17
03.03.22
Abu Dhabi Natl Energy
4.65%
Axis REIT Sukuk Bhd
4.50%
12.07.24
Gamuda Bhd
4.21%
26.10.18
BGSM Mgmt SB
4.90%
27.12.18
Tanjung Bin Power SB
4.66%
14.08.20
%
4.8%
3.8%
3.7%
3.7%
3.7%
3.6%
3.6%
3.6%
3.5%
2.6%
15.7%
Consumer Goods
Gross Distribution
(sen)
2.00
4.00
4.00
2.00
4.00
2.40
2.25
1.90
1.25
Yield
(%)
4.1
7.2
8.4
3.7
7.5
4.4
4.0
3.4
2.3
Source: Lipper
2006
2007
2008
2009
2010
2011
2012
2013
2014
(2)
Distribution Policy : Distribution of income, if any, would be on quarterly

basis
73.4%
AA
17.6%
AAA
11.8%
Real Estate
Oil & Gas
2011
8.0
3.1
24.6%
Financial Services
Government
2012
5.1
3.2

31.0%
Utilities
Calendar
Year
Fund
Benchmark

Industrials
Repurchase Charge
Nil

Total
Since
Return(%)
1 Month
Fund
0.3
3.3
11.2
82.7
Benchmark
0.3
3.2
9.9
59.2
6.6%
SOV
4.7%
4.7%
1.3%
Cash
4.3%
4.3%
Overall rating**
decision.
(1)
As at 15 April 2010, the Benchmark was replaced by the 12-month Maybank General Investment Account (GIA) rate as the Fund assumed its new mandate.
(2)
calculated based on the total dividend payout/NAV at the start of the calendar year.
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 1.1 and is classified as Very Low (source: Lipper). Very Low includes Funds with VF that are not more than 1.115.
(RMP) dated 22 September 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents
of the PHS and the RMP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RMP. Investors should also consider the fees and charges involved.
A copy of the PHS and the RMP can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
28

(formerly known as Hwang Select Japan Quantum Fund)
An equity fund that provides exposure into Japanese economy by investing in under valued Japanese companies with growth potential.
Fund Category
Equity

Total
Return(%)
1 Month
1 Year
3 Year
Fund Type
Growth
Benchmark
TOPIX (Tokyo Stock Price Index)
Total Return Index
Annualised
Return(%)
Launch Date / IOP

3 March 2014 / RM0.50
Calendar Year
Return(%)
Subscription
Cash
1.8% per annum
Minimum Investment
RM1,000
3 Year
5 Year
Since
Inception
Year To
Date
2013
2012
2011
Maturity Date
N/A

1 Year
External Fund Manager

Nikko Asset Management Co. Ltd
Financial Year End

Last day of February
Since
Inception
Top 10 Holdings as at 30 November 2014*

Equities
Toyota Motor Corp
Mitsubishi UF J Fin Group Inc
Mazda Motor Corp
Espec Corp
Tsurumi Manufacturing Co Ltd
Honda Motor Co Ltd
Senshu Electric Co Ltd
Sac'S Bar Holdings Inc
Sumitomo Mitsui Financial Gp
Taihei Dengyo Kaisha Ltd
Minimum Subsequent
Investment
RM100

%
4.6%
2.2%
2.2%
1.6%
1.6%
1.6%
1.6%
1.5%
1.4%
1.4%
30.6%
Industrials
16.3%
Consumer Goods
12.7%
Financial
Consumer Services
6.7%
Basic Materials
7.0%
Utilities
2.7%
Technology
2.6%
Telecomm
1.4%
Others
1.4%
18.8%
Repurchase Charge
1.0% of the NAV per Unit within
the first 6 months from the date of
investment
Income Distribution(1)
Incidental
Fund Size
RM124.5 million
NAV Per Unit
RM0.6021
(1)
The Fund is not expected to make distribution. However, incedental distribution may be declared whenever is appropriate.
performance. Prices and distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Prospectus (RP)
dated 22 September 2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of
the PHS and the RP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RP. Investors should also consider the fees and charges involved. A
copy of the PHS and the RP can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
29
Affin Hwang China Growth Fund

(formerly known as Hwang China Select Fund)
A feeder fund that provides exposure into the Chinese economy through investments into companies which derive their profits from mainland China by
investing into companies on official stocks markets in Hong Kong, China (A-Share and B-Share markets), United States, Taiwan, Singapore and other
countries.
Fund Type
Growth
Target Fund Manager
Citigroup First Investment
Management Limited
Target Fund Sub-Manager
China Asset Management (Hong
Kong) Limited


Total Return(%)
Fund
Benchmark
145
Fund Category
Feeder Fund (Wholesale)
AHCGF
130
1 Month
5.1
6.2
1 Year
11.1
8.3
3 Year
48.3
33.9
Since
Inception
43.0
15.5
1 Year
11.1
8.3
3 Year
14.0
10.2
5 Year
N/A
N/A
Since
Inception
11.3
4.4
Year To
Date
8.2
10.3
2013
25.1
7.0
2012
11.7
12.9
2011
-5.4
-13.3
Source: Lipper
115
Annualised
Return(%)
Fund
Benchmark
100
85
Benchmark
Source: Lipper
70
Target Fund
China Select Fund
Benchmark
80% MSCI China Index + 20%
China Securities Index 300
Launch Date / IOP
11 July 2011 / RM0.50
Maturity Date
N/A
Financial Year End
31 December
Jul 11
May 12
Mar 13
Jan 14
Nov 14
July 2011 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper
Target Fund Top Holdings as at 31 October 2014#

Equities
Petrochina Co Ltd
Avichina Industry & Technology Co Ltd
Wanhua Chemical Group Co Ltd
Foshan Haitian Flavouring&Fd Co Ltd
6.3%
5.2%
3.9%
3.8%
3.7%
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
Asset Allocation as at 31 October 2014**

China Select Fund
99.8%
0.2%
**The data provided above are that of the Fund and are a percentage of NAV as at 31 October 2014.

Target Fund Sector Allocation as at 31 October 2014#
Subscription
Cash
1.8% per annum
Minimum Investment
RM30,000
Minimum Subsequent
Investment
RM10,000
Repurchase Charge
Nil
Financial
13.2%
Cons. Discretionary
12.9%
Information Technology
12.9%
Industrials
11.2%
Materials
Consumer Staples
Hong Kong HShare
65.6%
China A-Share
27.1%
9.0%
Utilities
Energy
Target Fund Country Allocation as at 31 October 2014#
7.8%
Others
2.2%
6.9%
6.4%
Cash & Cash

Equivalents
5.1%
5.1%
Income Distribution
N/A (1)
Fund Size
RM101.4 million
NAV Per Unit
RM0.7149
Overall Morningstar Rating of
Target Fund**
#The data provided above are that of the Fund by Citigroup First Investment Management Ltd (CFIM) and is a percentage of NAV of the Target Fund as at 31 October 2014 as the data is provided by the Target Fund Manager after Affin Hwang
Asset Management Bhd publication cut-off date. Please note that asset exposure for the Target Fund is subject to frequent changes on a daily basis.
**As at 31 October 2014, out of 216 Funds in the Greater China Category. This rating reflects only the rating of the China Select Fund and it does not represent the rating of Affin Hwang China Growth Fund which is unrated by Morningstar
Morningstar Rating is an assessment of a Fund's past performance-based on both return and risk which shows how similar investment compare with their competitors. A high rating alone is insufficient basis for an investment decision.
(1)
The Fund is not expected to make distribution.

distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Infomation Memorandum (RIM) dated 22 September
2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of the PHS and the RIM before
investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RIM. Investors should also consider the fees and charges involved. A copy of the PHS and the RIM can be
30
Affin Hwang Global Commodity Fund

(formerly known as Hwang Global Commodity Fund)
A feeder fund that targets to capture the growth of global commodity markets through investment in commodity related instruments.
Fund Type
Growth
Benchmark
Average of 4 commodity indices
1.Rogers Int Commodity Index
2.S&P GSCI Index
3.Dow-Jones AIG Commodity Index
4.Reuters/Jefferies-CRB Index

150
Launch Date / IOP

20 August 2007 / RM0.50
Maturity Date
N/A
Financial Year End
30 April
Subscription
Cash
AHGCF
Annualised
Return(%)
Fund
Benchmark
110
90
70
Benchmark
1 Year
-12.5
-6.1
3 Year
-8.5
-5.5
5 Year
-3.8
-2.6
Since
Inception
-4.0
-4.6
Year To
Date
-14.5
-7.4
2013
-7.0
2.0
2012
-0.3
-4.1
2011
-6.9
-4.2
Source: Lipper
50
Nov 08
Feb 10
Apr 11
Jul 12
Sep 13
Nov 14
September 2007 to November 2014 NAV-NAV prices and assuming reinvestment

of distributions into the Fund, gross investment based in RM. The value of Units
may go down as well as up. Past performance is not indicative of future
performance.
Source: Lipper
Target Fund Top Holdings as at 31 October 2014#

Security Exposure
%
WTI Crude Oil
17.6%
Gold
9.4%
Natural Gas
8.7%
Live Cattle
6.8%
Sugar
6.6%
Asset Allocation as at 31 October 2014#
Calendar Year
Return(%)
Fund
Benchmark
Source: Lipper
Target Fund Asset Allocation as at 31 October 2014#
39.5%
Energy
34.6%
Agriculture
97.8%
2.2%
Metals
**The data provided above are that of the Fund and are a percentage of NAV as at 31 October
2014.
Cash & Cash

Equivalents
Schroder Alternative Solutions Commodity Fund


Up to 1.8% per annum
Since
Inception
-25.7
-10.0
Source: Lipper
130
Sep 07
Target Fund Manager

Schroder Investment
Management Limited

Total
Return(%)
1 Month
1 Year
3 Year
Fund
-2.6
-12.5
-23.5
Benchmark
-1.4
-6.1
-9.9
170
Index Performance (%)
Fund Category
Feeder Fund (Wholesale)
20.3%
5.6%
Minimum Investment
Closed for purchase
Repurchase Charge
1.0% of the NAV per Unit
redeemed within the first 6
months from the date of
investment. No Charge during
the cooling-off period
Income Distribution (1)
N/A
Fund Size
RM10.2 million
NAV Per Unit
RM0.3717
*The data provided above are that of the Fund and are a percentage of NAV as at 30 November 2014. All figures are subject to frequent changes on a daily basis.
#The data provided above are that of Schroder Alternative Solutions Commodity Fund (Target Fund) and are a percentage of NAV of the Target Fund as at 31 October 2014 as the data is provided by the Target Fund Manager after
HwangIM publication cut-off date. Please note that asset exposure for the Target Fund is subject to frequent changes on a daily basis.
(1)
The Fund is not expected to make distribution.
Based on the Fund's portfolio returns as at 31 October 2014, theVolatility Factor (VF) for this Fund is 12.4 and is classified as High (source : Lipper). High includes funds with VF that are above 10.560 but not more than 12.975.
contained herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future performance. Prices
and distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Information Memorandum (RIM) dated 22
September 2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of the PHS and
the RIM before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RIM. Investors should also consider the fees and charges involved. A copy of the
PHS and the RIM can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
31
Affin Hwang Absolute Return Fund II

(formerly known as Hwang Absolute Return Fund II)
A thematically driven and unconstrained mixed asset fund that seeks to provide total returns through investments globally, across all
sectors and asset classes.
Fund Type
Growth
Benchmark
Absolute return of 8% per annum
Launch Date / IOP
18 December 2007 / RM0.50

215
AHARFII
190
Fund Category
Mixed Assets
165
Financial Year End

31 May
Benchmark
Annualised
Return(%)
Fund
Benchmark
115
90
MSCI World
Feb 09
Apr 10
Jun 11
Jul 12
Sep 13
Fund Size
RM102.8 million
Year To
Date
15.9
7.3
2013
23.9
8.0
2012
34.4
8.0
2011
-18.0
8.0
Malaysia
4.1%
Technology
4.0%
2.8%
Telecomm
1.9%
Other
1.8%
11.5%
China
6.2%
Consumer Services
27.1%
Indonesia
11.7%
Consumer Goods
Health Care
13.9%
5.9%
Hong Kong
5.8%
Thailand
34.1%

Equities
Tenaga Nasional Bhd
BGF Retail Co Ltd
AIA Group Ltd
IKang Healthcare Group Inc
Alibaba Group Holding Ltd
Kumpulan Europlus Bhd
Kerry Logistics Network Ltd
9.6%
Korea
Singapore
Income Distribution (2)

Incidental
Calendar Year
Return(%)
Fund
Benchmark
19.6%
Financials
Minimum Subsequent
Investment
RM10,000
Repurchase Charge
1.0% of the NAV per Unit
redeemed within the 6 months
from the date of investment.
Since
Inception
9.0
8.0
Source: Lipper
Utilities
Minimum Investment
RM30,000
5 Year
10.2
8.0
Nov 14
January 2008 to November 2014 NAV-NAV prices and assuming reinvestment of

Source: Lipper
Industrials
Performance Fee
20.0% of the increase in the NAV
per unit over and above the hurdle
value (1)
3 Year
22.5
8.0
Source: Lipper
Jan 08

1.0% per annum
1 Year
21.5
8.0
40

Subscription
Cash
Since
Inception
81.5
70.1
17.2
Source: Lipper
140
65
Maturity Date
N/A

Total
Return(%)
1 Month
1 Year
3 Year
2.1
21.5
83.8
Fund
0.6
8.0
26.0
Benchmark
4.5
12.5
57.1
MSCI World
4.4%
1.7%
34.1%
%
6.2%
4.0%
3.4%
3.2%
3.0%
2.8%
2.8%
2.7%
2.6%
2.6%
NAV Per Unit

RM0.9074
(1)
Hurdle value is the Fund's high water mark plus 8.00%. High water mark refers to the highest NAV per Unit that the Fund has achieved at the end of the preceding performance period. The performance period is always measure from 1
June to 31 May every year, to coincide with the start and the end of the Fund's financial year.
(2)
The Fund is not expected to make distribution. However, incidental distribution may be declared whenever is appropriate.
Based on the Fund's portfolio returns as at 31 October 2014, the Volatility Factor (VF) for this Fund is 10.9 and is classified as High (source: Lipper). High includes Funds with VF that are above 10.560 but not more than 12.975.
The (VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio may
distribution payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Replacement Information Memorandum (RIM) dated 22
September 2014 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read and understandthe contents of the PHS and the
RIM before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the RIM. Investors should also consider the fees and charges involved. A copy of the PHS and
the RIM can be obtained at our office or any of our sales offices. The Fund may not be suitable for all and if in doubt, investors should seek independent advice.
32
Affin Hwang Fixed Maturity Income Fund IV

(formerly known as Hwang Fixed Maturity Income Fund IV)
A 3-year, closed-ended global bond fund with a principal hold-to-maturity strategy that targets to provide stable levels of annual coupons with the potential for a
bonus coupon at Maturity (in MYR terms).

Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.4
5.1
N/A
Benchmark
0.3
3.3
N/A
135
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
36-Month Maybank Fixed Deposit
Rate
Launch Date / IOP
Maturity Date
05 December 2014
Financial Year End
31 May
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
From the commencement date
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
AHFMIFIV
125
Since
Inception
26.3
10.2
Source: Lipper
115

105
95
Dec 11
Gross Distribution
(sen)
4.64
4.64
Benchmark
Jul 12
Feb 13
Sep 13
Apr 14
Nov 14
December 2011 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of units may go down as
well as up. Past performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
Eon Bank Bhd
5.75%
02.12.19
Hong Leong Fin Gp Bhd
4.05%
02.12.14
2012
2013
Yield
(%)
4.6
4.3
(1)

basis
Asset Allocation as at 30 November 2014*

%
14.0%
5.8%
Cash & Cash

Equivalents
80.1%
Bonds
19.9%
Fund Size
RM85.6 million
NAV Per Unit
RM1.1619
Affin Hwang Fixed Maturity Income Fund V

(formerly known as Hwang Fixed Maturity Income Fund V)
Maturity Date
18 October 2015
Financial Year End

31 May
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil


Total
1 Month
1 Year 3 Year
Return(%)
Fund
0.4
5.7
N/A
Benchmark
0.3
3.3
N/A
135
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
125
Since
Inception
17.3
7.1
Source: Lipper
AHFMIFV
115
105
Gross Distribution
(sen)
4.64
4.64
Benchmark
95
Sep 12
Jan 13
Jun 13
Oct 13
Feb 14
Jul 14
Nov 14
September 2012 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of units may go down as
well as up. Past performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
5.13%
29.03.49
PCI Capital Ltd
5.88%
17.12.14
National Capital Trust
5.49%
17.03.49
6.75%
29.01.18
Hutchison Whampoa
6.00%
29.12.49
2013
2014
Yield
(%)
4.5
4.4
(1)
basis

%
19.0%
15.5%
14.8%
9.0%
9.0%
Bonds
Cash & Cash

Equivalents
93.8%
6.2%
Fund Size
RM175.4 million
NAV Per Unit
RM1.0764
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are calculated based
on the total dividend payout/NAV at the start of the calendar year
This document is prepared by Affin Hwang Asset Management Bhd (formerly known as Hwang Investment Management Bhd) (429786-T). It is not intended to be an offer invitation to subscribe or purchase any securities. The information contained
herein has been obtained from sources believed in good faith to be reliable, however, no guarantee is given in its accuracy or completeness. Past performance of the Fund is not an indicative of its future performance. Prices and distribution
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus for Affin Hwang Fixed Maturity Income Fund IV dated 8 November 2011
and Affin Hwang Fixed Maturity Income Fund V dated 24 September 2012 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to
read and understand the contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors should
also consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Funds may not be suitable for all and if in doubt, investors should seek independent advice.
33
Affin Hwang Fixed Maturity Income Fund VI

(formerly known as Hwang Fixed Maturity Income Fund VI)
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP

120
25 March 2013/ RM1.00
Maturity Date
9 April 2016
115
Since
Inception
14.3
5.5
Source: Lipper
110
AHFMIFVI
105
Benchmark
100
95
Apr 13
Financial Year End

31 May
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM207.0 million
NAV Per Unit
RM1.0936

Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.7
9.8
N/A
Benchmark
0.3
3.0
N/A
Jul 13
Nov 13
Feb 14
May 14
Aug 14
Nov 14
April 2013 to November 2014 NAV-NAVprices and assuming reinvestment of distributions into
the Fund, gross investment based in RM. The value of units may go down as well as up. Past
performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
5.13%
12.09.17
National Australia Bk Ltd
8.00%
24.09.16
Petron Corp
7.50%
06.08.18
QBE Capital Funding II LP
6.80%
01.06.17
Hutchison Whampoa
6.00%
07.05.17
Gross Distribution
(sen)
4.64
2014
Yield
(%)
4.5
(1)

basis

%
18.2%
10.8%
10.5%
9.9%
8.9%
Bonds
Cash & Cash

Equivalents
99.7%
0.3%
Affin Hwang Fixed Maturity Income Fund VII

(formerly known as Hwang Fixed Maturity Income Fund VII)
28 May 2013/ RM1.00
Maturity Date
12 June 2016
Financial Year End

30 September
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM144.6 million
NAV Per Unit
RM1.0757


Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.6
8.1
N/A
Benchmark
0.3
3.3
N/A
120
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
115
Since
Inception
12.4
4.9
Source: Lipper
110
AHFMIFVII
105
95
Jun 13
Benchmark
100
Aug 13
Nov 13
Jan 14
Apr 14
Jun 14
Sep 14
Nov 14
June 2013 to November 2014 NAV-NAVprices and assuming reinvestment of distributions into
the Fund, gross investment based in RM. The value of units may go down as well as up. Past
performance is not indicative of future performance.
Source: Lipper

Bonds
Issuer
5.13%
12.09.17
Hutchison Whampoa
6.00%
28.10.15
ICICI Bank Ltd
4.75%
25.11.16
SBB Capital Corp
6.62%
02.11.15
QBE Capital Funding II LP
6.80%
01.06.17
Gross Distribution
(sen)
4.64
2014
Yield
(%)
4.5
(1)
basis

%
16.1%
15.9%
12.4%
12.1%
11.1%
96.2%
Bonds
Cash & Cash

Equivalents
3.8%
(1)
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus for Affin Hwang Fixed Maturity Income Fund VI dated 25 March 2013
and Affin Hwang Fixed Maturity Income Fund VII dated 28 May 2013 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read
and understand the contents of the PHS and the Prospectuses before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectuses. Investors should also
consider the fees and charges involved. A copy of the PHS and the Prospectuses can be obtained at our office or any of our sales offices. The Funds may not be suitable for all and if in doubt, investors should seek independent advice.
34
Affin Hwang Fixed Maturity Income Fund VIII

(formerly known as Hwang Fixed Maturity Income Fund VIII)
Fund Size
RM203.6 million
NAV Per Unit
RM1.0347

Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.1
7.8
N/A
Benchmark
0.3
3.3
N/A

120
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
1 October 2013 / RM1.00
Maturity Date
21 October 2016
Financial Year End
30 April
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
115
AHFMIFVIII
Since
Inception
8.2
3.7
Source: Lipper
110
105
100
95
Oct 13
Gross Distribution
(sen)
4.64
Benchmark
Jan 14
Mar 14
Jun 14
Sep 14
Nov 14
October 2013 to November 2014 NAV-NAV prices and assuming reinvestment of distributions
into the Fund, gross investment based in RM. The value of units may go down as well as up.
Source: Lipper

Bonds
Coupon
Maturity Date
Issuer
Greentown China Hldgs Ltd
8.50%
04.02.16
ABN Amro Bank
4.70%
25.10.17
Standard Chartered PLC
6.41%
30.01.17
Parkson Retail Group Ltd
4.50%
03.05.18
Hutchison Whampoa
6.00%
07.05.17
2014
Yield
(%)
4.6
(1)
basis

%
13.0%
10.7%
10.3%
9.4%
9.0%
98.8%
Bonds
Cash & Cash

Equivalents
1.2%
Affin Hwang Fixed Maturity Income Fund IX

(formerly known as Hwang Fixed Maturity Income Fund IX)
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
Maturity Date
9 December 2016
Financial Year End
30 April
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM152.3 million
NAV Per Unit
RM1.0911

Total
1 Month
1 Year 3 Year
Return(%)
Since
Inception

Source: Lipper


Bonds
Issuer
Majid Futtaim Hldgs LLC
7.13%
29.10.18
5.13%
12.09.17
Standard Chartered PLC
4.00%
12.07.17
11.00%
08.03.15
5.38%
17.10.18

%
14.8%
11.9%
11.5%
11.4%
9.3%
92.5%
Bonds
Cash & Cash

Equivalents
7.5%
* The data provided above are that of the Fund and are a percentage of NAV as at 29 August 2014 . All figures are subject to frequent changes on a daily basis.
(1)
Where a distribution is declared, investors are advised that following the issue of additional Units/distribution, the NAV per Unit will be reduced from cum-distribution NAV to ex-distribution NAV. The yield of the distributions are calculated based on
the total dividend payout/NAV at the start of the calendar year
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus for Affin Hwang Fixed Maturity Income Fund VIII dated 1 October 2013
and Affin Hwang Fixed Maturity Income Fund IX dated 6 November 2013 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read
35
Affin Hwang Fixed Maturity Income Fund X

(formerly known as Hwang Fixed Maturity Income Fund X)
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
8 January 2014 / RM1.00
Maturity Date
24 February 2017
Financial Year End
30 April
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM210.9 million
NAV Per Unit
RM1.0718

Total
1 Month
1 Year 3 Year
Return(%)
Since
Inception


Bonds
Issuer
Malayan Banking Bhd
3.25%
20.09.17
Petron Corp
7.50%
06.08.18
5.13%
12.09.17
Hutchison Whampoa
6.00%
07.05.17
PT Bk Rakyat Indo Persero
2.95%
28.03.18

%
13.1%
11.2%
11.0%
10.4%
9.7%
97.6%
Bonds
Cash & Cash

Equivalents
2.4%
Affin Hwang Fixed Maturity Income Fund XI

(formerly known as Hwang Fixed Maturity Income Fund XI)
Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
1 July 2014 / RM1.00
Maturity Date
4 August 2017
Financial Year End
30 April
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM268.9 million
NAV Per Unit
RM1.0273

Total
Return(%)
1 Month
1 Year 3 Year
Since
Inception


Bonds
Issuer
PTT Exploration & Pdt
4.88%
18.06.19
Greenland HK Hldgs Ltd
4.38%
07.08.17
Krung Thai Bank PLC
5.20%
26.12.19
SMC Global Power Hldgs
7.50%
07.11.19
ABN Amro Bank
4.70%
25.10.17

%
14.3%
10.1%
9.3%
8.6%
8.1%
Bonds
Cash & Cash

Equivalents
98.3%
1.8%
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus for Affin Hwang Fixed Maturity Income Fund X dated 8 January 2014
and Affin Hwang Fixed Maturity Income Fund XI dated 10 June 2014 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised to read
36
Affin Hwang Fixed Maturity Income Fund XII

Fund Category
Bond (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
23 October 2014 / RM1.00
Maturity Date
17 November 2017
Financial Year End
30 April
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
1st year
3.0%
2nd year
2.0%
3rd year
1.0%
At maturity
Nil
Fund Size
RM276.5 million
NAV Per Unit
RM1.0006

Total
1 Month
1 Year 3 Year
Return(%)
Since
Inception


Bonds
Issuer
PTT Exploration & PDT
4.88%
18.06.49
Rolta LLC
10.75%
16.05.18
5.00%
02.11.49
Sinochem Global Cap Co Lt
Citic Pacific Ltd
7.88%
15.04.49
OCBC Wing Hang Bk Ltd
6.00%
21.03.18

%
7.5%
6.9%
5.7%
5.2%
5.1%
Cash & Cash

Equivalents
56.9%
43.1%
Bonds
Affin Hwang Tactical Opportunity Capital Protected Fund

(formerly known as Hwang Tactical Opportunity Capital Protected Fund)
A dynamic, capital-protected fund with a maximum maturity of 5 years, that aims to achieve growth through investments into an option that
seeks to provide exposure to the growth of China and its influence towards commodity markets and Australia
Total
Return(%)
1 Month
1 Year 3 Year
Fund
0.3
1.9
-1.6
Benchmark
0.3
3.2
9.8

120
Fund Category
Fixed Income (closed-ended)
Fund Type
Capital protected
Benchmark
Maybank 12-Month Fixed Deposit
Rate
Launch Date / IOP
13 January 2010 / RM1.00
Maturity Date
9 March 2015
Financial Year End
31 May
0.3% per annum
Minimum Investment
Closed for purchase
Repurchase Charge
1.5%
1st year
2nd year
1.2%
3rd year
0.9%
4thyear
0.6%
5th year
0.3%
At maturity
Nil
Benchmark
Since
Inception
2.5
15.5
Source: Lipper
110
100
AHTOCPF
90
Jan 10
Sep 10
Jun 11
Feb 12
Oct 12
Jul 13
Mar 14
Nov 14
January 2010 to November 2014 NAV-NAVprices and assuming reinvestment of distributions

into the Fund, gross investment based in RM. The value of units may go down as well as up.
Source: Lipper
Composition of Underlying Index Basket

Hang Seng China Enterprise Index (HSCEI)
RICI Enchanced Excess Return Index (RICI)
S&P / ASX 200 Index (ASX200)
Income Distribution
Distribution Policy : The Fund is not expected to make
distribution
ZNIDs
Cash & Cash

Equivalents
99.99%
0.01%
Fund Size
RM16.3 million
NAV Per Unit
RM1.0251
Based on the Fund's portfolio returns as at 31 October 2014 the Volatility Factor (VF) for this Fund is 3.8 and is classified as Low (source : Lipper). Low includes funds with VF that are above 1.115 but not more than 7.860.
The VF means there is a possibility for the Fund in generating an upside return or downside return around this VF. The Volatility Class (VC) is assigned by Lipper based on quintile ranks of VF for qualified funds. The Fund's portfolio may have
changed since this date and there is no guaranteed that the Fund will continue to have the same VF or VC in the future. Presently, only funds launched in the market for at least 36 months will display the VF and its VC.
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Prospectus for Affin Hwang Fixed Maturity Income Fund XI dated 10 June 2014 and
Affin Hwang Tactical Opportunity Capital Protected Fund dated 13 June 2010 have been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are advised
to read and understand the contents of the PHS and the RP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the Prospectus. Investors should also consider
the fees and charges involved. A copy of the PHS and the Prospectus can be obtained at our office or any of our sales offices. The Funds may not be suitable for all and if in doubt, investors should seek independent advice.
37
Affin Hwang Structured Income Fund V

(formerly known as Hwang Structured Income Fund V)
A 3-year, closed-ended fund that seeks to provide stable levels of calendar quarterly coupons through structured product investments linked to quality Global
corporate credits.

Total
Return(%)
1 Month
1 Year
3 Year
Fund
0.0
7.1
N/A
Benchmark
0.3
3.2
N/A
135
Fund Category
Structured Product (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
08 February 2012 / RM1.00
Maturity Date
30 March 2015 or earlier if an Early
call Event is tringgered or
occurrence of a Default Event.
Financial Year End
31 March
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
5.0% from the commencement
date up to the day before the
Maturity Date.
125
Source: Lipper
AHSTRIFV
115
105
95
85
Mar 12
Since
Inception
17.4
8.7
Gross Distribution
(sen)
4.31
5.68
4.28
Benchmark
Oct 12
Apr 13
Oct 13
Apr 14
Nov 14
March 2012 to November 2014 NAV-NAV prices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of units may go
Source: Lipper
Composition of Underlying Credit Basket

1. Standard Chartered Bank
2. Capitaland Ltd
3. Telefonica S.A
4. Swire Pacific Ltd
5. Prudential PLC
6. Reliance Industries Ltd
2012
2013
2014
(1)
Yield
(%)
4.3
5.7
4.2
Distribution Policy : Distribution of income, if any, would be on quarterly basis

OCBC Structured
Product
Cash & Cash
Equivalents
97.5%
2.5%
Not applicable on Maturity Date.

Fund Size
RM402.4 million
NAV Per Unit
RM1.0189
Affin Hwang Structured Income Fund VIII

(formerly known as Hwang Structured Income Fund VIII)
A 3-year, closed-ended fund that seeks to provide stable levels of calendar quarterly coupons through structured product investments linked to quality Global
corporate credits.

Total
1 Month
1 Year
3 Year
Return(%)
Fund
-0.6
9.2
N/A
Benchmark
0.3
3.2
N/A
115
Fund Category
Structured Product (closed-ended)
Fund Type
Income
Benchmark
Rate
Launch Date / IOP
15 August 2013 / RM1.00
Maturity Date
20 September 2016 or earlier if an
Early call Event is tringgered or
occurrence of a Default Event.
Financial Year End
31 October
Nil
Minimum Investment
Closed for purchase
Repurchase Charge
5.0% from the commencement
date up to the day before the
Maturity Date.
Not applicable on Maturity Date.
Fund Size
RM337.3 million
NAV Per Unit
RM1.0015
110
AHSTRIFVIII
Since
Inception
5.9
4.0
Source: Lipper
105
100
Benchmark

Gross Distribution
(sen)
1.40
4.23
95
90
Sep 13
Jan 14
Jun 14
Nov 14
Septemeber 2013 to November 2014 NAV-NAVprices and assuming reinvestment of

distributions into the Fund, gross investment based in RM. The value of units may go
Source: Lipper
Composition of Underlying Credit Basket

1. Petroleo Brasileiro SA
2. HSBC Bank Plc
3. Temasek Holdings Pte Ltd
4. Crown Ltd
5. Volkswagen Aktiengesellschaft
6. PCCW-HKT Telephone Ltd
7. Reliance Industries Ltd
8. Bank of America Corporation
9. Republic of Indonesia
10. Alliance SE
2013
2014
(1)
Yield
(%)
1.4
4.4
Distribution Policy : Distribution of income, if any, would be on quarterly basis

OCBC Structured
Product
Cash & Cash
Equivalents
99.4%
0.6%
(1)
payable, if any, can go down as well as up. A Product Highlights Sheet (PHS) is available for the Fund and investors have the right to request for a copy of it. The Information Memorandum (IM) for Affin Hwang Structured Income Fund V dated 8
February 2012 and Affin Hwang Structured Income Fund VIII dated 15 Agust 2013 has been registered as well as the PHS has been lodged with the Securities Commission Malaysia, who takes no responsibility for its contents. Investors are
advised to read and understand the contents of the PHS and the RP before investing. Application for Units can only be made on receipt of a form of application referred to in and accompanying the PHS and the IM. Investors should also consider
the fees and charges involved. A copy of the PHS and the IM can be obtained at our office or any of our sales offices. The Funds may not be suitable for all and if in doubt, investors should seek independent advice.
38
Fund Risk
Classification
FUNDS
SCORE
RISK CATEGORY
GROUP
0-5
Very Low
G1
6 - 11
Low
G2
12 - 18
Moderate
G3
19 - 25
High
G4
26 - 32
Very High
G5
Affin Hwang Aiiman Cash Fund I

(Formerly known as Hwang AIIMAN Cash Fund)
Affin Hwang Aiiman Money Market Fund
(Formerly known as Affin Islamic Money Market Fund)
(Formerly known as Hwang Enhanced Deposit Fund)
Affin Hwang Select Cash Fund
(Formerly known as Hwang Select Cash Fund)
(Formerly known as Hwang AIIMAN Income Plus Fund)
Affin Hwang Bond Fund
(Formerly known as Affin Capital Fund)
Affin Hwang PRS Conservative Fund
(Formerly known as Hwang PRS Conservative Fund)
Affin Hwang Select Bond Fund (RM Class / USD Hedged-Class)
(Formerly known as Hwang Select Bond Fund)
Affin Hwang Aiiman Balanced Fund
(Formerly known as Dana Islamiah Affin)
Affin Hwang Aiiman Select Income Fund
(Formerly known as Hwang AIIMAN Select Income Fund)
Affin Hwang PRS Moderate Fund
(Formerly known as Hwang PRS Moderate Fund)
Affin Hwang Select AUD Income Fund (AUD Class / RM Class)
(Formerly known as Hwang AUD Income Fund)
(Formerly known as Hwang Select Balanced Fund)
Affin Hwang Select Income Fund
(Formerly known as Hwang Select Income Fund)
Affin Hwang Select SGD Income Fund (RM Class / SGD Class)
(Formerly known as Hwang SGD Income Fund)
Affin Hwang Aiiman Equity Fund
(Formerly known as Affin Islamic Equity Fund)
(Formerly known as Hwang AIIMAN Growth Fund)
Affin Hwang Aiiman PRS Shariah Growth Fund
(Formerly known as Hwang AIIMAN PRS Shariah Growth Fund)
Affin Hwang Equity Fund
(Formerly known as Affin Equity Fund)
Affin Hwang Growth Fund
(Formerly known as Affin Quantum Fund)
Affin Hwang Principled Growth Fund
(Formerly known as Affin Select Growth Fund)
Affin Hwang PRS Growth Fund
(Formerly known as Hwang PRS Growth Fund)
Affin Hwang Select Asia (ex Japan) Opportunity Fund
(Formerly known as Hwang Select Asia (ex Japan) Opportunity Fund)
Affin Hwang Select Asia Pacific (ex Japan) REITs and Infrastructure Fund
(Formerly known as Hwang Asia Pacific (ex Japan) REITs and Infrastructure Fund)
(Formerly known as Hwang Select Dividend Fund)
(Formerly known as Hwang Select Opportunity Fund)
Affin Hwang Tactical Fund
(Formerly known as Affin Tactical Fund)
Affin Hwang Absolute Return Fund II
(Formerly known as Hwang Absolute Return Fund II)
Affin Hwang China Growth Fund
(Formerly known as Hwang China Select Fund)
(Formerly known as Hwang Select Japan Quantum Fund)
Affin Hwang Select Asia (ex Japan) Quantum Fund
(Formerly known as Hwang Select Asia (ex Japan) Quantum Fund)
Hwang ASEAN Flexi Fund
Note: Investors are advised to take the Suitability Assessment Test before investing to determine your risk profile.
39
Asset Management

Fundamentals Dec 2014

Uploaded by

Copyright:

Available Formats

Fundamentals Dec 2014

Uploaded by

Document Information

Original Description:

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

Fundamentals Dec 2014

Uploaded by

Copyright:

Available Formats

MARKET UPDATE I monthly review and outlook

Global stock markets continued its volatile ride in November

Chinas equity market ended the month as one of the top

While US consumer confidence fell in November, the latest GDP

The S&P 500 Index strengthen by 5.2% (in MYR terms) in

STRATEGY: The difference between major central banks

The broader Asian equity markets recorded a moderate growth

While Chinas manufacturing PMI declined in the month of

STRATEGY: Markets are expected to remain volatile in the near

DECEMBER 2014 I FUNDamentals

MARKET UPDATE I monthly review and outlook

The Malaysian equity market ended the month of November as one

While the oil & gas sector underperformed, outperformance was

Bank Negara maintained its overnight policy rate at 3.25% on

STRATEGY: The Manager anticipates the domestic market to

GLOBAL & LOCAL FIXED INCOME

Fixed income markets in general rebounded from Octobers

Despite the fact that US third-quarter GDP growth was revised

Asian fixed income markets remained resilient on optimism that

continued rise in the USD/MYR exchange rate. There were

STRATEGY: The Manager remains comfortable with the current

DECEMBER 2014 I FUNDamentals

MARKET UPDATE I monthly review and outlook

STRATEGY: The Target Fund Managerhas a neutral outlook on

GLOBAL THEMES: REITs & INFRASTRUCTURE

The Manager focuses

DECEMBER 2014 I FUNDamentals

Affin Hwangs Recommended Funds

Fund Risk Classification

PRS Conservative Fund

Aiiman Growth Fund

PRS Growth Fund

Aiiman Income Plus Fund

PRS Moderate Fund

Aiiman PRS Shariah Growth Fund

Select AUD Income Fund (AUD Class)

Aiiman Select Income Fund

Select AUD Income Fund (RM Class)

ASEAN Flexi Fund

Select Asia (ex Japan) Opportunity Fund

China Growth Fund

Select Asia (ex Japan) Quantum Fund

Enhanced Deposit Fund

Select Asia Pacific (ex Japan) REITS and Infrastructure Fund

Fixed Maturity Income Fund IV

Select Balanced Fund

Fixed Maturity Income Fund V

Select Bond Fund (RM Class)

Fixed Maturity Income Fund VI

Select Bond Fund (USD Hedged-Class)

Fixed Maturity Income Fund VII

Select Dividend Fund

Fixed Maturity Income Fund VIII

Select Income Fund

Fixed Maturity Income Fund IX

Select Opportunity Fund

Fixed Maturity Income Fund X

Select SGD Income Fund (RM Class)

Fixed Maturity Income Fund XI