Dear Unitholder, We are pleased to attach the market wrap and bond market review for the week/fortnight ended 9 May 2008 for your information. Regards Customer Service e-mail proclaimer This e-mail and any attachment is intended for the addressee(s) only and may contain information that is legally privileged and confidential. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication and its contents is strictly prohibited. If you have received this email in error, please notify us immediately by return email or our hotline 036279 5252 and delete the document. This communication has not been transmitted via a private or secure link or in encrypted form and is therefore subject to the usual hazards of Internet communications, nor can it be guaranteed that this communication has not been the subject of unauthorised interception or modification.

Public Mutual Named “Best Islamic Fund Manager In Asia” for 2nd Consecutive Year

Public Mutual Bhd won the “Best Islamic Fund Manager in Asia” Award by the Failaka Advisors for the 2nd consecutive year. The award was presented by Mr Mark J Smyth, Managing Director of Failaka Advisors to Public Mutual’s Chairman, Y. Bhg. Tan Sri Dato’ Sri Dr. Teh Hong Piow during Public Mutual’s Annual Awards Night held on 15 May 2008 at Putra World Trade Centre, Kuala Lumpur.

The Failaka Advisors, with headquarters in Dubai, UAE and offices in Chicago, USA, is a recognised leader in the field of Islamic funds research. The Failaka Islamic Fund Awards stand apart as the benchmark for excellence in the field of Islamic fund management and represents a high-water mark for award winners.

In presenting the award to Public Mutual, Mr Mark J Smyth said, for the 2nd year he is happy to present Public Mutual with the award for Best Islamic Fund Manager- Asia. He also said that in terms of Shariah-compliant funds, Public Mutual’s funds have once again outperformed the benchmarks by the highest percentages. In a market where many clients have demonstrated a preference for Islamic funds, Public Mutual is well-placed to take advantage of this demand. The team of Public Mutual have proven remarkably consistent in managing their Shariah funds and the proof is in their performance. No doubt performance has played a role in their tremendous asset growth.

In his acknowledgement speech, Tan Sri Teh expressed pride that Public Mutual is once again receiving this international recognition. “The award reflects Public Mutual's commitment to do its utmost to give value to our unitholders,” he said. Tan Sri Teh dedicated the award to Public Mutual’s board of directors, management, staff, agency force and unitholders in appreciation of their passion and zeal in helping put Public Mutual on the map of excellence.

Public Mutual is the largest private unit trust company in Malaysia, and it manages 62 funds for more than 1,800,000 accountholders. As at 30 April 2008, the total NAV of the funds managed by the company was RM27.8 billion.

URL: http://www.publicmutual.com.my/page.aspx?n...s_16052008_1340

Dear Unitholder, We are pleased to attach the market wrap for the week ended 16 May 2008 for your information. Regards Customer Service e-mail proclaimer This e-mail and any attachment is intended for the addressee(s) only and may contain information that is legally privileged and confidential. If you are not the intended recipient, you are hereby notified that any dissemination, distribution or copying of this communication and its contents is strictly prohibited. If you have received this email in error, please notify us immediately by return email or our hotline 036207 5000 and delete the document. This communication has not been transmitted via a private or secure link or in encrypted form and is therefore subject to the usual hazards of Internet communications, nor can it be guaranteed that this communication has not been the subject of unauthorised interception or modification.

thank you, david~ for the weekly report

Don't thank me. I don't take credit on that since I didn't write them. I just upload them.

Any idea what fund will have their financial year end this May? And, I have a question...

PITTIKAL just given a distribution of RM0.10/unit last Nov 07, and will distribution be given on this coming financial year end May 08?

Is distribution for a fund given 2 times a year, if any?

Distribution declared is up to the fund manager discretion. Funds with incidential distribution payout mode are not commited to pay distribution on annual basis. I believe PITTIKIAL is one of these funds. It depends on the fund performance. If the fund is doing extremely well, it could declare dividend more than once and I believed or remembered that was happened to PITTIKIAL last year.

Only dividend or income funds (funds with annual distribution payout mode) will be paying or declaring dividend annually since they're "commited" to do so.

You can check these info in the master prospectus.

David, this is really good, thanks for your explanation..
BTW... which funds are financial end for May?

This post has been edited by guanteik: May 23 2008, 06:54 AM

Funds' with financial year-ending in 31st May 08:
1) Public Balanced Fund (PBF)
2) Public Ittikal Fund (PITTIKAL)
3) Public Islamic Equity Fund (PIEF)
4) Public Dividend Select Fund (PDSF)
5) Public Far-East Select Fund (PFES)
6) Public Select Bond Fund (PSBF)
7) Public Regional Sector Fund (PRSEC)
8) Public Global Select Fund (PGSF)

So, there will be quite a numbers of funds here that hv their financial year ending in May... Will be looking on how much distribution be declare for PITTIKAL, PDSF & PRSEC

With the continual bad market performance... I would think PITTIKAL may not have distribution for this financial year...

This post has been edited by guanteik: May 23 2008, 05:31 PM

One of my fund is in the list as well. Not sure if they are going to declare distribution.

Let's hope for the best... sigh!

Well, one thing i'm very sure is PITTIKAL will surely declare distribution this time around, the question is how much.

PITTIKAL has been one of the star performer funds for PM, besides the fund has been performing or should i say recover quite well from the initial aftermath of the subprime crisis.

The the total of 8 funds in the list, PGSF will be the most likely to be not declaring any distribution.
PRSEC might most probably will declare is much lower distribution than before.

The others I would say will have good chances to have distribution. But will most probably b lower than previous year.

Anyway, lets wait till end of the month for PM to declare the distributions...no point speculating..hehe

This post has been edited by kingkong81: May 23 2008, 10:23 PM

Just a quick question out of curosity.. how do you know whether a fund will be given distribution at end customer level? E.g. for the fund mentioned by you, how do we know in advance?

I don't think the unit holder will know in advance but the master got state when's that particular fund financial year end. Whether it will declare the distribution; as I said earlier depends on the fund distribution payout method and fund performance (fund manager discretion).

Distributions makes no difference whatsoever to the total value of the fund.

It's pointless to know when distributions happen, apart from the annoying need to take it into account when looking at fund performance.

This post has been edited by howszat: May 24 2008, 03:35 PM

Got 1 noob question here.

Can I do switching of funds between PB series and PM series??

howszat,

distribution doesn't affect the value of the fund, yes..it is correct. But it is wrong to say that distribution is completely pointless and annoying

From a practical investor perspective, the total value is the same - therefore it is pointless.

With distributions, you cannot take prices at two points in time and compute a percentage figure. Many Fund managers don't tell you what the distribution is and when it happens. Those who do tell you (ie for investors), it is often much later after the fact. Therefore it is annoying.

So, which bit is wrong?

This post has been edited by howszat: May 24 2008, 03:49 PM

ok. let discuss this. Why div is not pointless. It doesn't increse the total value of the fund, agreed.

BUT, if you opt to reinvest your given div, you are investing with zero cost, ie. no service charge, unlike you investing your fresh money. Hence, you get more units with cheaper cost. Then when you are given div next year again, you are being paid based on the total number of units that you have. Reinvest your div will allow you to enjoy compounding effect - ie. div next year is being paid not only on the initial invested units but also the distributed div portion, and so on and so forth

Regarding the percentage profit, basically it doesn't affect your calculation if you opt to reinvest your money again. Only you have more units, that's it.

Afterall, it really is not hard to work on the profit percentage even after the distribution. Just check with your agent. Agents should have the system to tell you your fund performance anytime.