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The week of 18 August– 24 August 2016
Volume 28 Number 01
Recent Performance
17 Jul 2016 17 Aug 2016 % Change
ICAP NAV (RM)
3.05
3.10
1.64
ICAP PRICE (RM)
2.29
2.30
0.44
KLCI (RM)
1,668.40
1,694.32
1.55
Total Return, From Inception
Since inception (%) Annual compound return (%)
220.80
11.36
137.06
8.29
85.34
5.86
NAV (as at 17 Aug 2016)
RM3.10
Share Price
RM2.30
Premium(+)/
-25.81%
Discount(-)
KLCI
1,694.32
*Special Dividend of 9.5 sen per share less Income Tax of 25% for the financial year ended 31 May 2013 is deducted from NAV and share price as at 17th September 2013.
NOTE: % change and Total Returns are calculated based on the announced figures plus the dividend paid.
Introduction
icapital.bizBerhad is a RM140
million Closed-end Fund, listed
on the Main Board of Bursa
Malaysia in 2005. The fund is
managed by Capital Dynamics
Asset Management Sdn Bhd and
advised by Capital Dynamics Sdn
Bhd. It is currently the only listed
closed-end fund in Malaysia.
icapital.bizBerhad
(ICAP,5108)
Fund Manager Capital Dynamics Asset Management Sdn Bhd
Paid-up Capital
140 million shares
Listed on
Bursa Malaysia’s Main Market
Structure
Closed-end
INCEPTION DATE – 19 OCTOBER 2005
KLCI = Kuala Lumpur Composite Index
ICAP CUMULATIVE PERFORMANCE IN MYR
(19 OCT 2005 TO 17 AUG 2016)
The performance of
icapital.bizBerhad for the period 19 October 2005 to 31 Dec 2015 has been independently verified. The performance for the period 1 January 2016 to 17
August 2016 is believed to be reliable, but has not been independently verified. Past performance and any forecast are not necessarily indicative of future or likely performance.
Cash balance at 11 Aug 2016:
RM 188,305.24
Add: -
Less: -
Net Cash Balance Available:
RM 188,305.24
Asset Allocation Percent (%)
Amount (RM)
Cash
91
188,305.24
Equities
9
18,950.00
Total
100
207,255.24
Counter Date bought
Qty
Price KLSE CI
Total cost Current price
+/-
Notion
24.11.2015 15,000 RM0.395 1677.03
RM5,975.29
RM0.41 +RM0.015
Benalec
26.05.2016 10,000 RM0.5004 1631.09
RM5,054.00
RM0.43 -RM0.07
CYL
26.05.2016 10,000
RM0.93 1631.09
RM9,372.11
RM0.85
-RM0.08
RM20,401.40
Comments: The Electic Trader
retains its portfolio.
HKSE:
The Hong Kong stock market
has recently been resilient
– thanks to China. But the
Federal Reserve may soon
spoil the party.
i
Capital retains
its bearish outlook for the Hang
Seng index for now.
SGX:
Singapore’s economy is stuck
in a structural rut and few
investors have recognised this
new development.
i
Capital
sticks to its bearish outlook
of the Straits Times Industrial
Average.
NIKKEI:
The economic
transformation of Japan
from 1945 to 1990 looks like
an outlier, not a norm.
i
Capital remains bearish over
the Tokyo stock market.
NYSE:
The next bear market on
the NYSE is not a question
of “if”, but “when”. When it
happens, the question is, how
mild or how severe will it be?
For now,
i
Capital retains its
bearish targets for the NYSE.
This section is an actual portfolio
supervised by Capital Dynamics.
There are actual trades with contracts.
Purchase/sale can be made on any day.
The objective of this portfolio is capital
gains. The emphasis is on short-term
trading. While the approach used will
include technical analysis, we do not
rely on them exclusively – it will be
“intelligently eclectic”. There are no
restrictions on the type of shares that
will be invested in. We would try to hold
at least 6 or more counters. But due to
the relatively small sum, some counters
may have higher weightings. Stop-loss
or trailing-stop will be used. This portfolio
started with RM50,000 cash on 1st Dec
1993. The KLSE CI was 1,015.42 points.
Stop Press
The Eclectic Trader
KLCI
Portfolio Performance at 29 Jul 2016
Source: Capital Dynamics
315.77%
62.82%
6.49% 2.17%
cumulative return annual compound return
G
| The Eclectic Trader
34
Capital Dynamics Sdn Bhd