monthly market update · the portfolio underperformed its benchmark, delivering 0.34% vs 0.96%.this...

MONTHLY MARKET UPDATEAUGUST 2019

มีที่ปร�กษาแนะนำให� ลงทุนยังไงก็ใช�คุณTMB Advisory ที่ปร�กษาส�วนตัวด�านการลงทุน

Data as of 30/08/2019

Global economy is likely to slow down in 2019 because of weaker trade dynamic, which is the result of the strong and prolong trade tensions between China and US. We reiterate our view that we prefer to remain cautious on equities, given concerns of sluggish global growth and heightened volatility in light of the US-China trade dispute. We prefer selective EM equity such as China and ASEAN because of their higher economic growth rate and supportive policies from central banks and government.Regarding fixed income, we don’t see a case for aggressive positions on duration. We expect interest rates to remain low but we may see more volatility in case of disappointments regarding high expectations of Central Banks rate cuts as market is priced in additional cut in 2019 already. Among fixed income space, we prefer US rates to Europe/Japan rates, and credit as search for yield is expected to continue in this low interest rate environment, and default rate outlook is still-benign.

MARKET VIEWMARKET OVERVIEWEquity markets declined across the board in August. Global growth slowdown, lowered corporate profitability expectations and expected aggressive moves from the central banks contributed to poor performance in Aug 2019. Equity market in developed countries outperformed emerging countries. UK and Japan were notably down among developed markets space while US equities were quite resilient with a limited drop. Emerging markets experienced worse results than the developed markets and geographically LATAM, especially Argentina, suffered the most.Overall, trade tensions are persisting and geopolitical risks are moving into the real economy with several indicators suggesting that global economic activity continued to weaken in the second quarter. In this environment, rates have declined amid market expectations of continuing accommodative monetary policy, particularly government bond in Germany, Italy, US treasury market also faced an inverted yield curve between 2-yr and 10-yr government bond for the first time since last financial crisis in 2008.

TABLE OF CONTENT

RISK AVERSE PORTFOLIO

CONSERVATIVE PORTFOLIO

BALANCED PORTFOLIO

ADVANCED PORTFOLIO

AGGRESSIVE PORTFOLIO

01

03

05

07

09

PLEASE SELECT THE ITEMS, FOR FURTHER INFORMATION

MARKET OVERVIEW AND MARKET VIEW (Data as of 30 Aug 2019)

PORTFOLIO OVERVIEW – AUGUST 2019

This profile is designed for risk averse investors having low risk tolerance and looking for

low expected volatility portfolio.

85%

15%

Risk Averse Portfolio Fund Risk Level

Q2/2019 Q3/2019

Benchmark:

Local Fixed Income 80%Foreign Fixed Income 20%

Portfolio Asset Allocation:Local Fixed Income 85%Foreign Fixed Income 15%

Expected Risk and Return (% p.a.) Expected return 2.18%Expected Risk 1.30%

1 2 3 4 5 6 7 8

1 2 3 4 5Investor Risk Level

Suitable Fund Risk Level

Past performance is not a guarantee or a reliable indicator for current or future performance

Benchmark Index composition : 48% ThaiBMA Government Bond (1-3 Years) + 24% Thai BMA Short Term Bond + 8% ThaiBMA Corporate Bond (above BBB)+ 20% BarclaysGlobal Aggregate Index

Investor risk level 1

Investment Objective

Quarterly Rebalancing (or when there are significant changes in market)

Asset Allocation

Model portfolio is designed for investment horizon of 1 year or longer as some funds in the model may not suitable with investor risk level

Buy - Sell And keep track of fund movements via TMB TOUCH Mobile AppMutual Fund Advisory Call. 1558 press #9

3rd Quarter 2019

Before subscribing, please refer to the Fund offering documents/prospectus for further risk factors and pre-investment disclosures.

Local Fixed Income 85% 85%

1 TMB Aggregate Bond Fund 4 30% 30%

2 TMB Bond Fund 4 30% 30%

3 TMB Thana Plus Fund 4 25% 25%

Foreign Fixed Income 15% 15%

456

TMB Global Bond FundTMB Global Income FundUnited Global Dynamic Bond-N

456

4%3%8%

0%11%

4%

100% 100%

Foreign Fixed IncomeLocal Fixed Income

01

02For customer’srisk level 1

The portfolio underperformed its benchmark, delivering 0.34% vs 0.96%.This month, the fund that detracted the most to the performance was TMB Global Income.

Maximum drawdownWorst monthLowest returnBest monthHighest return

PortfolioBenchmarkSpread

3 months 1.06%1.81%

-0.75%

1 month0.34%0.96%

-0.62%

6 months 2.15%2.74%

-0.59%

Portfolio volatilityBenchmark volatility

3 years--

1 year0.48%0.70%

5 years--

YTD2.70%3.34%

-0.64%

S.I.(% p.a.)2.39%2.58%

-0.19%

No change.

RISK AVERSE PORTFOLIO


2016---

20173.01%2.25%0.76%

20180.68%1.28%

-0.60%

2015---

2014---

Portfolio commentary

Performance analytics

Risk analysis (rolling)

Strategy

Performance Evolution (Base 100)*

Calendar year performance

Past performance (%)

Asset Allocation*

Monthly Performances and Risks statistics

Foreign Fixed Income

Local Fixed Income

14.90%

% Investment Portion

85.10%

% weight14.90%10.84%

4.07%85.10%30.13%30.03%24.94%

Bloomberg

TMBGLIN TBUNGLDBN TB

TMBAGBF TBTMBBOND TBTMBPLUS TB

ISIN

TH7232010002TH8385010005

TH5573010003TH1128010002TH1133010005

TMB GLOBAL INCOME FUNDUNITED GLOBAL DYNAMIC BOND-N

TMB AGGREGATE BOND FUND TMB BOND FUNDTMB THANAPLUS FUND


Local Fixed Income

Portfolio composition – August 2019

Table of contentMonthly Market Update – Aug 2019This summary is a part of the prospectus which only sets out information relating to the policy, return, risks and conditions of the fund. Investors must study the information in details from the full prospectus before making an investment decision. Full prospectus can be requested from a selling agent and the Management Company. Investors may also study information from the prospectus that was submitted by the Management Company to The Securities and Exchange Commission (SEC) on SEC’s website. If you have any questions, please ask your investment advisor before buying investment units. Investors should make investment only when they see that the fund is suitable to their objectives and that they can accept potential risks from such investment.

* The performance is calculated in Thai Baht, based on historical data. The performance shown is calculated with net coupons reinvested and excluding ongoing costs. The performance shown covers the complete 12-month period for each calendar year. The product(s) have no guaranteed performance or return. Further, past performance is not a guarantee or a reliable indicator for current or future performance and is not guarantee that the investor will receive the expected return as shown. The performance data do not take account of the commissions and costs incurred on the issue and redemption of units

Portfolio Benchmark

14.90%

85.10%

-0.32%04/2018-0.10%

03/20190.47%

This profile is designed for investors who have a low risk tolerance and expect a capital preservation.The portfolio usually allocates 100% to fixed income.

Benchmark :Composite Index **

Sub-fund launch date: 30/12/2016


** Index composition :

48% THAI BMA GOVERNMENT BOND TOTAL RETURN INDEX, 8% THAI CORPORATE DEBENTURE TOTAL RETURN INDEX (BBB UP), 24% THAI BMA SHORT-TERM GOVERNMENT BOND TOTAL RETURN INDEX, 20% BLOOMBERG BARCLAYS GLOBAL AGGREGATE HEDGED

Portfolio Management Fee :

Portfolio Management Fee (Exclude vat) Not Exceeding 1.5% P.A. of AUM (Actual Fee No Charge)

As of 30 August 2019

Inception to date

This profile is designed for cautious investors having a low to medium risk tolerance and looking for a

large diversification in terms of asset classes.

54%

26%

10%

10%

Conservative Portfolio


Benchmark:

Local Fixed Income 50% Foreign Fixed Income 30%

Local Equity 10% Foreign Equity 10%

Portfolio Asset Allocation:Local Fixed Income 54% Local Equity 10% Foreign Fixed Income 26% Foreign Equity 10%

1 2 3 4 5 6 7 8

1 2 3 4 5

Benchmark Index composition : 30% ThaiBMA Government Bond (1-3 Years) + 15% Thai BMA Short Term Bond + 5% ThaiBMA Corporate Bond (above BBB)+ 30% BarclaysGlobal Aggregate Index + 5% MSCI World Index+ 5% MSCI Asia ex Japan+10% SET Index

Q2/2019 Q3/2019


Investment Objective 3rd Quarter 2019

Asset Allocation



Fund Risk Level



Investor Risk Level



Local Equity 8% 10%1 Tisco High Dividend Equity Fund 6 5% 5%2 K-STAR Equity Fund – A (A) 6 3% 5%

Foreign Equity 10% 10%3 TMB India Active Equity Fund 6 2.5% 2.5%4 TMB China Opportunity Fund 6 2.5% 2.5%5 TMB Global Quality Growth Fund 6 5% 5%

Local Fixed Income 54% 54%6 TMB Aggregate Bond Fund 4 16% 16%7 TMB Bond Fund 4 25% 25%8 TMB Thana Plus Fund 4 13% 13%

Foreign Fixed Income 28% 26%9 TMB Global Bond Fund 4 11% 6%

10 TMB Global Income Fund 5 5% 13%1112

TMB Asian Bond FundUnited Global Dynamic Bond-N

46

2%10%

2%5%

100% 100%

Local EquityForeign Fixed IncomeLocal Fixed Income Foreign Equity

03

04

Asset Allocation*

Foreign EquitiesForeign Fixed Income

9.75%


26.18%Local EquitiesLocal Fixed Income

9.65%54.42%

Foreign Equities


Local Equities

Local Fixed Income

% weight9.75%2.47%5.01%2.27%

26.18%2.04%6.13%

12.89%5.12%9.65%4.87%4.78%

54.42%16.18%25.19%13.06%

Bloomberg

TMBCOPF TB TMBGQGT TB TMBIAEQ TB

TMBASD2 TBTMBGLBF TBTMBGLIN TBUNGLDBN TB

KSTAACC TBTISCOHD TB

TMBAGBF TBTMBBOND TBTMBPLUS TB

ISIN

TH5969010005 TH6351010009 TH8510010003

TH7628010004 TH2560010005TH7232010002TH8385010005

TH1557010002TH3221010004

TH5573010003TH1128010002TH1133010005

TMB CHINA OPPORTUNITY FUNDTMB GLOBAL QUALITY GROWTH FUND TMB INDIA ACTIVE EQUITY

TMB ASIAN BOND FUND TMB GLOBA L BOND FUNDTMB GLOBAL INCOME FUNDUNTIED GLOBAL DYNAMIC BOND-N

K STAR EQUITY FUND-A ACCTISCO HIGH DIVIDEND EQUITY FUND

TMB AGGREGATE BOND FUNDTMB BOND FUNDTMB THANAPLUS FUND


54.42% 26.18%

9.75%

9.65%

Table of contentMonthly Market Update – August 2019This summary is a part of the prospectus which only sets out information relating to the policy, return, risks and conditions of the fund. Investors must study the information in details from the full prospectus before making an investment decision. Full prospectus can be requested from a selling agent and the Management Company. Investors may also study information from the prospectus that was submitted by the Management Company to The Securities and Exchange Commission (SEC) on SEC’s website. If you have any questions, please ask your investment advisor before buying investment units. Investors should make investment only when they see that the fund is suitable to their objectives and that they can accept potential risks from such investment.


For customer’srisk level 2

The portfolio underperformed its benchmark delivering 0.01% vs 0.33%. This month, the fund that detracted the most to the performance was TMB Global Income.



3 months1.35%2.08%

-0.73%

1 month0.01%0.33%

-0.32%

6 months2.83%2.93%

-0.10%


3 years--

1 year2.14%2.07%

5 years--

YTD5.09%4.80%0.29%

S.I.(% p.a.)3.67%3.46%0.21%

No change.

CONSERVATIVE PORTFOLIO




Strategy





Portfolio Benchmark

-3.56%10/2018-1.44%

01/20191.58%

This portfolio is designed for investors who have low to medium risk tolerance and looking for diversification in terms of asset classes.The portfolio usually allocates 80% to fixed income and 20% to equity





30% THAI BMA GOVERNMENT BOND TOTAL RETURN INDEX, 5% MSCI ASIA EX JAPAN INDEX, 10% SET INDEX, 15% THAI BMA SHORT-TERM GOVERNMENT BOND INDEX, 5% MSCI WORLD INDEX, 5% THAI BMA CORPORATE DEBENTURE TOTAL RETURN INDEX (BBB UP), 30% BLOOMBERG BARCLAYS GLOBAL AGGREGATE HEDGED

Portfolio Management Fee : Portfolio Management Fee (Exclude vat) Not Exceeding 1.5% P.A. of AUM (Actual Fee 0.5% P.A. of AUM)


2016---

2017 6.94% 5.51% 1.43%

2018-2.05%-0.99%-1.06%

2015---

2014---


Inception to date

This profile is designed for investors having an average risk tolerance and targeting medium to long-term capital appreciation.

พฤษภาคม

Balanced Portfolio

Benchmark: Local Fixed Income 30% Foreign Fixed Income 20%Local Equity 30% Foreign Equity 20%


1 2 3 4 5 6 7 8

1 2 3 4 5

31%

21%

30%

18%

Portfolio Asset Allocation:Local Fixed Income 31% Local Equity 30% Foreign Fixed Income 21% Foreign Equity 18%

Benchmark Index composition : 18% ThaiBMA Government Bond (1-3 Years) + 9% Thai BMA Short Term Bond + 3% ThaiBMA Corporate Bond (above BBB)+ 20% Barclays GlobalAggregate Index + 10% MSCI World Index+ 10% MSCI Asia ex Japan+30% SET Index

Q2/2019 Q3/2019




Fund Risk Level



Investor Risk Level



Asset Allocation


Local Equity 29% 30%1 Tisco High Dividend Equity Fund 6 10% 10%2 K-STAR Equity Fund – A (A) 6 10% 10%3 K Mid Small Equity Fund 6 5% 0%4 TMB Thai Mid Small Minimum Variance Fund 6 0% 6%5 Krungsri Dynamic Equity Fund 6 4% 4%

Foreign Equity 18% 18%6 TMB Asian Growth Leaders Fund 6 4% 0%7 TMB China Opportunity Fund 6 2% 4%8 KTAM ASEAN Equity 6 2% 4%9 TMB India Active Equity Fund 6 2% 2%

10 TMB Global Quality Growth Fund 6 8% 8%Local Fixed Income 31% 31%

11 TMB Aggregate Bond Fund 4 17% 17%12 TMB Bond Fund 4 14% 14%

Foreign Fixed Income 22% 21%13 TMB Global Bond Fund 4 9% 5%14 TMB Global Income Fund 5 3% 10%1516


46

2%8%

2%4%

100% 100%

Local EquityForeign Fixed IncomeLocal Fixed Income Foreign Equity

05

06

KTAM ASEAN EQ-ATMB CHINA OPPORTUNITY FUNDTMB GLOBAL QUALITY GROWTH FUND TMB INDIA ACTIVE EQUITY

TMB ASIAN BOND FUND TMB GLOBAL BOND FUND TMB GLOBAL INCOME FUNDUNITED GLOBAL DYNAMIC BOND-N

K STAR EQUITY FUND-A ACCKRUNGSRI DYNAMICTISCO HIGH DIVIDEND EQUITY FUNDTMB THAI MID SMALL MINIMUM VARIANCE FUND

TMB AGGREGATE BOND FUNDTMB BOND FUND



3 months1.93%1.90%0.03%

1 month-0.81%-0.96%0.15%

6 months2.83%2.01%0.82%

YTD7.16%5.57%1.59%

S.I.(% p.a.)4.89%4.21%0.68%




Portfolio Benchmark

The portfolio outperformed its benchmark delivering -0.81% vs -0.96%. This month, the funds that contributed the most to the performance were TMB China Opportunity and KSTAR Equity.

Maximum drawdownRecovery period (days)Worst monthLowest returnBest monthHighest return


3 years--

1 year5.20%5.07%

5 years--

No change.

BALANCED PORTFOLIOPortfolio commentary



Strategy


-8.27%188

10/2018-3.25%

01/20193.22%

% weight17.77%

3.85%3.99%8.10%1.89%

21.37%2.06%5.16%

10.01%4.14%

29.26%9.84%3.82%9.65%5.95%

31.60%17.36%14.25%

Bloomberg

KTASEAN TB TMBCOPF TB TMBGQGT TB TMBIAEQ TB

TMBASD2 TBTMBGLBF TB TMBGLIN TBUNGLDBN TB

KSTAACC TBAJFSTDY TBTISCOHD TBTMBTMSV TB

TMBAGBF TB TMBBOND TB

ISIN

TH6401010009 TH5969010005 TH6351010009 TH8510010003

TH7628010004 TH2560010005TH7232010002TH8385010005

TH1557010002TH2360010007TH3221010004TH7480010001

TH5573010003 TH1128010002

Foreign Equities


Local Equities

Local Fixed Income


Asset Allocation*


17.77%



29.26%31.60%

17.77%

21.37%29.26%

31.60%



This portfolio is designed for investors who have an average risk tolerance and looking for medium to long term capital appreciation.The portfolio usually allocates 50% to fixed Income and 50% to equities.





10% MSCI AC ASIA EX JAPAN +30% BANGKOK SET + 18% THAI BOND DEALING CENTER GOVT BOND GRP 1 TOTAL RETURN INDEX +20% BLOOMBERG BARCLAYS GLOBAL AGGREGATE HEDGED +10% MSCI WORLD +3% THAI BOND DEALING CENTER CORPORATE BOND GRP 1 TOTAL RETURN INDEX (BBB UP) +9% THAI BOND DEALING CENTER SHORT TERM GOVT BOND TOTAL RETURN INDEX


Portfolio Management Fee (Exclude vat) Not Exceeding 1.5% P.A. of AUM (Actual Fee 0.5% P.A. of AUM)


2016---

2017 11.80% 10.18% 1.62%

2018-5.21%-4.04%-1.17%

2015---

2014---


Inception to date

This profile is designed for investors having a medium to high risk tolerance, preparing to bear medium to high market volatility and targeting higher long-term expected capital appreciation


Advanced Portfolio

Benchmark: Local Fixed Income 15% Foreign Fixed Income 15%Local Equity 40% Foreign Equity 30%


16%

16%

40%

25%

3%

1 2 3 4 5 6 7 8

1 2 3 4 5

Benchmark Index composition : 9% ThaiBMA Government Bond (1-3 Years) + 4.5% Thai BMA Short Term Bond + 1.5% ThaiBMA Corporate Bond (above BBB)+ 15% BarclaysGlobal Aggregate Index + 15% MSCI World Index+ 15% MSCI Asia ex Japan+40% SET Index

Q2/2019 Q3/2019

Portfolio Asset Allocation:Local Fixed Income 16% Local Equity 40% Others 3% Foreign Fixed Income 16% Foreign Equity 25%




Fund Risk Level



Investor Risk Level



Asset Allocation


Local Equity 37% 40%1 Tisco High Dividend Equity Fund 6 12% 12%2 K-STAR Equity Fund – A (A) 6 14% 14%3 K Mid Small Equity Fund 6 7% 0%4 TMB Thai Mid Small Minimum Variance Fund 6 0% 10%5 Krungsri Dynamic Equity Fund 6 4% 4%

Foreign Equity 29% 25%6 TMB Asian Growth Leaders Fund 6 7% 2%7 TMB India Active Equity Fund 6 3% 3%8 TMB China Opportunity Fund 6 3% 5%9 TMB Global Quality Growth Fund 6 8% 8%

10 ONE-European Equity Fund 6 2% 2%11 KTAM ASEAN Equity Fund 6 3% 5%12 United Global Healthcare Fund 7 3% 0%

Others 0% 3%13 TMB Global Property Fund 8 0% 3%

Local Fixed Income 16% 16%14 TMB Aggregate Bond Fund 4 16% 16%

Foreign Fixed Income 18% 16%15 TMB Global Income Fund 5 5% 10%1617


46

2%11%

2%4%

100% 100%

Local EquityForeign Fixed IncomeLocal Fixed Income Foreign Equity Others

07

Asset Allocation*

% weight24.79%

4.85%2.04%1.93%5.02%8.16%2.80%

16.32%2.07%

10.08%4.16%

39.36%13.87%

3.85%11.66%

9.99%16.45%16.45%3.08%3.08%

Bloomberg

KTASEAN TB ONEEUEQ TB TMBAGLF TB TMBCOPF TB TMBGQGT TB TMBIAEQ TB

TMBASD2 TB TMBGLIN TB UNGLDBN TB

KSTAACC TB AJFSTDY TB TISCOHD TB TMBTMSV TB

TMBAGB F TB

TMBGPRO TB

ISIN

TH6401010009 TH8488010001 TH5820010004 TH5969010005 TH6351010009 TH8510010003

TH7628010004 TH7232010002 TH8385010005

TH1557010002 TH2360010007 TH3221010004 TH7480010001

TH5573010003

TH8320010003

KTAM ASEAN EQ-AONE EUROPEAN EQUITY FUNDTMB ASIAN GROWTH LEADERS FUND TMB CHINA OPPORTUNITY FUNDTMB GLOBAL QUALITY GROWTH FUND TMB INDIA ACTIVE EQUITY

TMB ASIAN BOND FUND TMB GLOBAL INCOME FUNDUNITED GLOBAL DYNAMIC BOND-N


TMB AGGREGATE BOND FUND

TMB GLOBAL PROPERTY

Foreign Equities


Local Equities

Local Fixed Income

Others



24.79%



39.36%16.45%

Others 3.08%





3 months2.13%1.68%0.45%

1 month-1.26%-1.82%0.56%

6 months2.51%1.26%1.25%

YTD8.44%5.97%2.47%

S.I.(% p.a.)5.27%4.62%0.65%




Portfolio Benchmark

The portfolio outperformed its benchmark delivering -1.26% vs -1.82%. This month, the funds that contributed the most to the performance were TMB China Opportunity and KSTAR Equity.



3 years--

1 year7.35%7.22%

5 years--

ADVANCED PORTFOLIOPortfolio commentary




-12.04%10/2018-4.73%

01/20194.38%

The portfolio objective is to achieve medium to high expected return with medium to high risk. Hence, it is suitable for investors who expect medium to high capital growth and prepare to bear market volatility.The portfolio usually allocates 70% to equities and the remaining to fixed income.





40 % SET INDEX, 15 % MSCI ASIA EX JAPAN INDEX, 9 % THAI BMA GOVERNMENT BOND TOTAL RETURN INDEX, 15 % BLOOMBERG BARCLAYS GLOBAL AGGREGATE HEDGED TOTAL RETURN, 4% THAI BMA SHORT-TERM GOVERNMENT BOND TOTAL RETURN INDEX, 15 % MSCI WORLD INDEX, 2 % THAI BMA CORPORATE DEBENTURE TOTAL RETURN INDEX



No change.

Strategy

08


2016---

201714.90%13.50%

1.40%

2018-7.97%-6.22%-1.75%

2015---

2014---


Inception to date

24.79%

16.45%

39.36%

16.32%

3.08%

0909

This profile is designed for investors having a high risk tolerance, preparing to bear high market volatility and targeting higher long-term expected capital appreciation


Aggressive Portfolio

Benchmark: Local Equity 50%Foreign Equity 50%


4%

50%41%

5%

Portfolio Asset Allocation:Local Equity 50% Others 5%Foreign Equity 46% Foreign Fixed Income 4%

1 2 3 4 5 6 7 8

1 2 3 4 5

Benchmark Index composition : 25% MSCI World Index+ 25% MSCI Asia ex Japan+50% SET Index

Q2/2019 Q3/2019




Fund Risk Level



Investor Risk Level



Asset Allocation


Local Equity 47% 50%1 TISCO High Dividend Equity Fund 6 17% 17%2 K-STAR Equity Fund – A (A) 6 17% 17%3 K Mid Small Cap Equity Fund 6 8% 0%4 TMB Thai Mid Small Minimum Variance Fund 6 0% 11%5 Krungsri Dynamic Equity Fund 6 5% 5%

Foreign Equity 48% 41%6 TMB Asian Growth Leaders Fund 6 12% 6%7 KTAM ASEAN Equity 6 5% 7%8 TMB India Active Equity 6 5% 5%9 TMB China Opportunity 6 5% 7%

10 TMB Global Quality Growth 6 8% 8%11 Aberdeen American Growth - Smaller Company 6 4% 4%12 ONE European Equity Fund 6 4% 4%13 United Global Healthcare 7 5% 0%

Others 0% 5%14 TMB Global Property Fund 8 0% 5%

Foreign Fixed Income 5% 4%15 United Global Dynamic Bond-N 6 5% 0%16 TMB Global Income Fund 5 0% 4%

100% 100%

Local EquityForeign Fixed Income Foreign Equity Others

09

AGGRESSIVE PORTFOLIOMonthly Performances and Risks statistics




The investment objective of this portfolio is to achieve high expected return, primarily from capital gain, which should bring to face a higher volatility during investment horizon. Hence, this portfolio is suitable for investors who have high risk tolerance and prepared to bear strong market volatility.The portfolio usually allocates 100% to equities.





50% BANGKOK SET + 25% MSCI AC ASIA EX JAPAN + 25% MSCI WORLD




3 months2.20%0.90%1.30%

1 month-2.06%-3.29%1.23%

6 months1.32%

-0.66%1.98%

YTD9.52%5.68%3.84%

S.I. (% p.a.)5.33%4.81%0.52%




Portfolio Benchmark

The portfolio outperformed its benchmark delivering -2.06% vs-3.29%. This month, the funds that contributed the most to the performance were TMB China Opportunity, KSTAR Equity and TMB Global Property.



3 years--

1 year10.78%10.67%

5 years--




-17.58%10/2018-6.84%

01/20195.86%

No change.

Strategy

Asset Allocation*

10


2016---

201719.68%18.67%

1.01%

2018-12.39%

-9.62%-2.77%

2015---

2014---


41.00%


4.08%Local Equities 49.72%Others 5.20%

4.08%

49.72%

41.00%

5.20%

% weight41.00%

4.12%6.86%4.12%5.86%7.11%8.25%4.67%4.08%4.08%

49.72%17.04%

4.86%16.71%11.11%5.20%5.20%

Bloomberg

ABAGSCF TB KTASEAN TB ONEEUEQ TB TMBAGLF TB TMBCOPF TB TMBGQGT TB TMBIAEQ TB

TMBGLIN TB

KSTAACC TBAJFSTDY TBTISCOHD TBTMBTMSV TB

TMBGPRO TB

ISIN

TH6839010001 TH6401010009 TH8488010001 TH5820010004 TH5969010005 TH6351010009 TH8510010003

TH7232010002 TH1557010002TH2360010007TH3221010004TH7480010001

TH8320010003

ABERDEEN AMERICAN GROWTH - SMALLER COMP. KTAM ASEAN EQ-AONE EUROPEAN EQUITY FUNDTMB ASIAN GROWTH LEADERS FUND TMB CHINA OPPORTUNITY FUNDTMB GLOBAL QUALITY GROWTH FUND TMB INDIA ACTIVE EQUITY

TMB GLOBAL INCOME FUND


TMB GLOBAL PROPERTY

Foreign Equities


Local Equities

Others


Inception to date


Table of content

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monthly market update · the portfolio underperformed its benchmark, delivering 0.34% vs 0.96%.this...

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