avenue invest berhad

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LIBRA INVEST BERHAD
MASTER PROSPECTUS
This Master Prospectus is dated 18 March 2014 and expires on 17 March 2015
Fund Name
Date of Constitution
Libra IncomeEXTRA Fund
25 August 1999
Libra EquityEXTRA Fund
25 August 1999
Libra BondEXTRA Fund
23 September 2002
Libra MoneyEXTRA Fund
23 September 2002
Libra VersatileEXTRA Fund
23 September 2002
Libra DividendEXTRA Fund
3 March 2005
Libra TacticalEXTRA Fund
3 March 2005
Libra Consumer and Leisure Asia Fund
9 May 2007
Libra Liquidity Fund
23 December 2008
Libra Resource Equity Fund
21 May 2010
(Formerly known as Libra Canada Australia Resource Economies Fund)
Libra SyariahEXTRA Fund
7 February 1996
Libra Amanah Saham Wanita
30 April 1998
Libra ASnitaBOND Fund
3 March 2005
MANAGEMENT COMPANY
TRUSTEE(S)
Libra Invest Berhad (361207-D)
Maybank Trustees Berhad (5004-P)
CIMB Commerce Trustee Berhad (313031-A)
CIMB Islamic Trustee Berhad (167913-M)
(A member of the ECM Libra Group)
INVESTORS ARE ADVISED TO READ AND UNDERSTAND THE CONTENTS OF THIS MASTER PROSPECTUS.
IF IN DOUBT, PLEASE CONSULT A PROFESSIONAL ADVISER.
FOR INFORMATION CONCERNING CERTAIN RISK FACTORS WHICH SHOULD BE CONSIDERED BY PROSPECTIVE
INVESTORS, SEE “RISK FACTORS” COMMENCING ON PAGE 35.
Libra Invest Berhad
Master Prospectus
i
PREFACE
Dear Investor,
This Master Prospectus contains information in relation to the Funds stated below to assist prospective
investors to make an informed assessment of the Funds for decision making purposes.
The objective of the respective Funds is as follows:
(a)
aims to provide investors with income and capital appreciation over a medium to long-term
investment horizon by investing in a balanced portfolio of fixed income instruments and equities.
(b)
seeks to maximise capital returns over the medium to long term period by investing in an activelymanaged, diversified portfolio of equity and equity-related securities.
(c)
aims to provide investors with aggressive long-term capital growth through investment in high
yielding fixed income securities with a relatively high level of market and financial risks.
(d)
aims to maintain a high degree of liquidity while providing current income through a direct
investment portfolio investing in short-term, high quality Ringgit-denominated money market
instruments.
(e)
aims to provide investors medium to long-term capital appreciation through its investments in
specified asset classes by adopting a relatively balanced approach towards equities and fixed
income exposure. The Fund aims to achieve capital growth with lower short-term volatility than is
normally associated with a pure equity fund.
(f)
seeks to achieve relatively stable returns via income and capital appreciation over the medium to
long-term by investing principally in high dividend yield stocks.
(g)
aims to provide investors medium to long-term capital appreciation by investing principally in liquid
equities with large market capitalisation (big caps), and fixed income instruments with flexible asset
allocation.
(h)
Libra Consumer Leisure and Asia Fund
seeks to provide capital appreciation over the medium to long-term by investing in a diversified
portfolio comprising stocks of companies in Asia which are considered to have strong growth
prospects and are able to benefit from the rising wealth effect of the region‟s middle class
population.
(i)
seeks to preserve capital and maintain a high degree of liquidity while providing steady income with
minimal risk by investing primarily in short-term deposits.
(j)
seeks to achieve capital growth over the medium to long-term period by investing primarily in
equities and equity-related securities traded globally. The Fund may also invest in fixed income
securities, structured products and money market instruments.
(k)
aims to provide investors with medium to long-term capital appreciation through investments in
specified asset classes by adopting a relatively balanced approach towards equities and fixed
income exposure based on the Shariah principles. The Fund aims to achieve capital growth with
lower short-term volatility than is normally associated with a pure equity fund.
ii
Libra Invest Berhad
Master Prospectus
(l)
seeks to offer relatively good and safe capital growth over the long-term period by investing
principally in an actively-managed, diversified portfolio of Shariah-compliant equities and equityrelated securities.
(m)
aims to provide capital preservation with regular income over the short to medium-term period by
investing in Islamic money market instruments and other sukuk.
You may refer to Key Data section for information relating to the main features of the Funds on pages 12-21,
the specific risks of investing in the Funds on pages 36-38, the profile of investors suitable to invest in the
Funds on pages 22-23 and the fees and charges payable in respect of the Fund on pages 24-29 For
information on where Units can be bought and sold, investors may refer to the Company Directory section
which can be found on page 152.
Yours sincerely,
MOHD FADZIL BIN MOHAMED
Chief Executive Officer / Executive Director
Libra Invest Berhad
Master Prospectus
iii
RESPONSIBILITY STATEMENTS
This Master Prospectus has been reviewed and approved by the directors of Libra Invest Berhad and they
collectively and individually accept full responsibility for the accuracy of the information. Having made all
reasonable enquiries, they confirm to the best of their knowledge and belief, there are no false or misleading
statements, or omission of other facts which would make any statement in this Master Prospectus false or
misleading.
STATEMENTS OF DISCLAIMER
The Securities Commission Malaysia has authorized the Funds and a copy of this Master Prospectus has been
registered with the Securities Commission Malaysia.
The authorization, and registration of this Master Prospectus, should not be taken to indicate that the Securities
Commission Malaysia recommends the Funds or assumes responsibility for the correctness of any statement
made or opinion or report expressed in this Master Prospectus.
The Securities Commission Malaysia is not liable for any non-disclosure on the part of Libra Invest Berhad, the
management company responsible for the Funds and takes no responsibility for the contents in this Master
Prospectus. The Securities Commission Malaysia makes no representation on the accuracy or completeness of
this Master Prospectus, and expressly disclaims any liability whatsoever arising from, or in reliance upon, the
whole or any part of its contents.
INVESTORS SHOULD RELY ON THEIR OWN EVALUATION TO ASSESS THE MERITS AND RISKS OF THE
INVESTMENT. IN CONSIDERING THE INVESTMENT, INVESTORS WHO ARE IN DOUBT ON THE ACTION TO
BE TAKEN SHOULD CONSULT THEIR PROFESSIONAL ADVISERS IMMEDIATELY.
ADDITIONAL STATEMENTS
No units of the Funds will be issued or sold based on this Master Prospectus later than one (1) year after the date
of this Master Prospectus.
Investors are advised to note that recourse for false or misleading statements or acts made in connection with this
Master Prospectus is directly available through sections 248, 249 and 357 of the Capital Markets and Services
Act 2007.
The word “EXTRA” is referring to the additional services and product features that in the opinion of the
Management Company would benefit the investors at large. The application of the word “EXTRA” to the Funds‟
names does not guarantee any return on investment.
The word “Dividend” in “DividendEXTRA” is referring to the dividend that the Fund earns from the investment
made by the fund manager. Investors are reminded that the dividend earned by the Fund is not a distribution
declared by the Fund to its investors.
Libra ASnitaBOND Fund, Libra Amanah Saham Wanita and Libra SyariahEXTRA Fund have been certified as
being Shariah-compliant by the Shariah adviser appointed for the Libra ASnitaBOND Fund, Libra Amanah Saham
Wanita and Libra SyariahEXTRA Fund.
Libra Invest Berhad
Master Prospectus
iv
Contents
1
Glossary
5
Corporate Directory
9
Investment Strategy
i.
Standalone Asnitabond

Special Features and Advantage of Investing Through
12
Key Data
i.
Fund Information

Fund Name, Fund Category, Fund Type, Inception date, Fund Description, Fund Objective,
Investment Strategy, Asset Allocation, Performance Benchmark, Principal Risks, Potential
Price Fluctuation, Suggested Investment Horizon for Investors, Investor‟s Profile,
Distribution Policy and Unit in Circulation.
ii.
iii.
iv.
Fees and Charges

Charges Directly Incurred
- Sales Charge
- EPF Member‟s Investment Scheme

Fees Indirectly Incurred
- Annual Management Fee
- Annual Trustee Fee
- List of expenses directly related to the Fund
- Other Fees payable indirectly by an Investor
- Custodian Fee, Rebate and Soft Commission
Transaction Information
Other Information
35
Risk Factors

General risks

Specific Risks in Equity Funds

Specific Risk in Fixed Income/Sukuk Funds

Specific Risks in Money Market Funds
39
Detailed Information Of The Funds




74
76
oneINVEST / oneINVEST Islamic
Investment Objective, Investment Strategy, Asset Allocation, Risk Management Strategies,
Temporary Defensive Positions, Performance Benchmark
Permitted Investments
Investments Restrictions
Investment Abroad
Additional Information In Relation To The Funds

Policy on Application of Investment Restrictions of the Funds

Valuation of Assets

Quoted securities and suspended securities

Unquoted fixed income securities/sukuk

Quoted Securities Dividend

Derivatives

Collective investment schemes

Deposits

Structured Products

Money Market Instruments
 Valuation Point for the Funds
Shariah Investment Guidelines

Investment in Malaysia

Investment in Foreign Markets

Cleansing Process for the Fund

Zakat (tithe) for the Fund
Libra Invest Berhad
Master Prospectus
80
Funds Performance

Average Total Returns,

Annual Total Returns

Distribution Record

Portfolio Turnover Ratio (PTR)

Asset Allocation
101 Historical Financial Highlights Of The Funds
i.
Audited Financial Statement of the Funds

Statement of Comprehensive Income

Statement of Financial Position

Management Expense Ratio (MER)
110 Fees, Charges and Expenses Of The Funds
i.
Charges Directly Incured

Sales Charge

Repurchase Charge

Dilution Fee/Transaction Cost

Transfer Fee

Other Charges

Switching Fee
ii.
iii.

Annual Management Fee

Annual Trustee Fee
Fees or Charges of the Advisor to the Management Co
114 Transaction Information
i.
Computation of NAV

Pricing Policy

Single Pricing

Forward Pricing

Incorrect Pricing Policy
120
ii.
How is the Selling Price Computed
iii.
How is the Liquidation Amount Computed
iv.
Transaction Details

Who can invest

How can I Purchase or Liquidate an Investment

Where can I obtain an Application Form

How do I pay for an Investment

How to Liquidate My Investment

Minimum Transaction Details for each Fund

Transfer Facility

Switching Facility

Minimum Switching

EPF Members‟ Investment Scheme

Cooling-off Policy

What Are the Important Points to Note before Investment

Anti-Money Laundering Policy

Distribution Policy and Reinvestment Policy

Liquidation Reinvestment Policy

Unclaimed Moneys Policy
The Management Company : Libra Invest Berhad

Corporate Profile of the Management Company

Staff Strength

Summary of Financial Position

Our Duties and Responsibilities

Material Litigation and Arbitration
v
Libra Invest Berhad
Master Prospectus
vi






Roles and Functions of Director
Roles and Functions of the Investment Committee
The Board of Directors and Investment Committee Members
Management Staff
Duties and Responsibilities of the Fund Managers
Profile of Key Investment Personnel
127
The Shariah Adviser

Corporate Profile of Shariah Adviser

General Information of IBFIM

Experience in Advisory and Services

Roles and Responsibilities of the Shariah Adviser

Profile of the Shariah Team
129
The Trustee

Maybank Trustees Berhad (“MTB”)

CIMB Islamic Trustee Berhad

CIMB Commerce Trustee Berhad
138
Salient Terms Of The Deed
i.
Recognition of Unit Holders

Rights

Liabilities

Suspension and Deferrals

Maximum Fees and Charges Permitted by the Deed
ii.
Procedures to Increase the Direct Charges and Indirect Fees

Sales Charge

Repurchase Charge


Annual Trustee Fee
iii.
Procedures to Increase the Maximum Rate of Direct Charges and Indirect Fees in
the deed

Permitted Expenses Payable by the Funds

Removal, Replacement and Retirement of the Management Company and Trustee

Termination of the fund

Provision governing Unit Holders Meetings

Meetings directed by Unit Holders

Unit Holder meeting convened by the Management Company

Unit Holder meeting convened by the Trustee
144
Approvals and Conditions
i.
Variations and Exemptions from SC Guidelines

EquityEXTRA
145
Related – Party Transactions and Conflict Of Interest
i.
Maybank Trustees Berhad (“MTB”)
ii.
iii.
147
Taxation Adviser’s Letter On Taxation Of The Funds And Unit Holders
i.
Taxation of the fund offered under the Master Prospectus and Unit holders
ii.
Taxation of the funds
 Domestic Investments
- General Taxation
- Dividends and Other Exempt Income
 Foreign Investment
 Tax Deductible Expenses
 Real Property Gain Tax
iii.
Taxation of Unitholders
Libra Invest Berhad
Master Prospectus
150
Additional Information
151
Consents,
Jurisdiction
Documents Available For Inspection
Directors’ Responsibility Statement
152
Company Directory
vii
Libra Invest Berhad
Master Prospectus
1
1. GLOSSARY
In this Master Prospectus, the following abbreviations or words shall have the following meanings, unless otherwise
stated:
Active Account
An account with a balance of 5,000 units or more is deemed active.
Baitulmal
The bodies who keep or manage the financial and property state, the treasury.
BNM
Bank Negara Malaysia.
Bursa Malaysia
Bursa Malaysia Securities Berhad the stock exchange managed or operated by Bursa
Malaysia Berhad.
Business Day
A day on which Bursa Malaysia is open for trading.
CMSA
Capital Markets and Services Act 2007 as may be amended from time to time.
Cooling-Off Period
Grace period for investors to re-consider their investment.
Deed(s)
The deeds or master deeds for the respective Funds and any other supplemental deeds
or master supplemental deeds that may be entered into between the Management
Company and the Trustees and registered with the Securities Commission of Malaysia.
deposits
Money placed with financial institutions in fixed or current deposit.
Eligible Market
means a market that:
(a) is regulated by a regulatory authority;
(b) operates regularly;
(c) is open to the public; and
(d) has adequate liquidity for the purposes of the Fund.
For investments in a foreign market*, a foreign market is an eligible market where it has
satisfactory provisions relating to:
(a) the regulation of the foreign market;
(b) the general carrying on of business in the market with due regard to the interests of
the public;
(c) adequacy of market information;
(d) corporate governance;
(e) disciplining of participants for conduct inconsistent with just and equitable principles
in the transaction of business, or for a contravention of, or a failure to comply with
the rules of the market; and
(f) arrangements for the unimpeded transmission of income and capital from the
foreign market.
*Note:
Investments in a foreign market are limited to markets where the regulatory authority is
a member of the International Organization of Securities Commissions (IOSCO).
Equity-related
securities
Securities that are convertible or exchangeable to equity; e.g. warrants, convertible loan
stocks.
EPF
Employees Provident Fund.
FBM100
FTSE Bursa Malaysia Top 100 Index.
FBM EMAS
Shariah Index
FTSE Bursa Malaysia EMAS Shariah Index.
Financial
Institution
(a) If the institution is in Malaysia –
i. licensed bank;
ii. licensed investment bank; or
iii. Islamic bank;
Libra Invest Berhad
Master Prospectus
2
((b) If the institution is outside Malaysia, any institution that is licensed/
registered/approved/authorized to provide financial services by the relevant banking
regulator.
fixed income
instruments
An instrument which provides returns in the form of fixed periodic payments and the return
of principal at maturity, including but not limited to short term instruments such as
government bills, commercial papers and fixed deposit, medium term notes and long term
instruments such as bonds.
Fund(s)
Libra IncomeEXTRA Fund (“IncomeEXTRA”) ; or
Libra EquityEXTRA Fund (“EquityEXTRA”) ; or
Libra BondEXTRA Fund (“BondEXTRA”) ; or
Libra MoneyEXTRA Fund (“MoneyEXTRA”) ; or
Libra VersatileEXTRA Fund (“VersatileEXTRA”) ; or
Libra DividendEXTRA Fund (“DividendEXTRA”) ; or
Libra TacticalEXTRA Fund (“TacticalEXTRA”) ; or
Libra Consumer and Leisure Asia Fund (“LCLAF”) ; or
Libra Liquidity Fund (“LLF”) ; or
Libra Resource Equity Fund (“LREF”) ; or
Libra SyariahEXTRA Fund (“SyariahEXTRA”) ; or
Libra Amanah Saham Wanita (“ASnita”); and
Libra ASnitaBOND Fund (“ASnitaBOND”)
(hereinafter referred to individually as “the Fund” and collectively as the Funds”)
GIA
General Investment Account (GIA) is an investment account that works on profit
sharing basis and fixed income basis respectively.
Guidelines
Guidelines on Unit Trust Funds issued by the Securities Commission Malaysia as may
be amended from time to time.
IUTA
Institutional Unit Trust Adviser.
Investment
Purchase of Units by investors (sale of Units by the Management Company).
Liquidation
Redemption of Units by investors (repurchase of Units by the Management Company).
long term
Means a period of more than three (3) years.
Management
Company/
Manager/LIB
Libra Invest Berhad.
MARC
Malaysian Rating Corporation Berhad.
medium term
Means a period between one (1) to three (3) years.
MSCI AC Asia
Morgan Stanley Capital International All Country Asia Consumer Discretionary Index.
MSCI AC Asia
Pacific ex-Japan
Morgan Stanley Capital International All Country Asia Pacific ex-Japan.
MSCI ACWI
Morgan Stanley Capital International All Country World Index.
NAV
Net Asset Value of a fund is the value of all the assets of the fund at a particular
valuation point less the total liabilities of the fund at the same valuation point. For the
purpose of computing the annual management fee and annual trustee fee, the NAV of
the fund should be inclusive of the management fee and trustee fee for the relevant
day.
NAV per Unit
The Net Asset Value of the Fund divided by the number of Units in circulation at the
same valuation point.
Libra Invest Berhad
Master Prospectus
OTC
oneINVEST /
oneINVEST Islamic
3
Over-the-counter trades refer to the trading of financial instruments directly between
two parties without going through the securities exchange. OTC trades are negotiable
and both parties agree upon the particular of the trade prior to settlement in the future.
An investment strategy which provides unlimited free switches between selected
Funds which currently comprises EquityEXTRA, DividendEXTRA, ASnita and
ASnitaBOND. The Management Company may from time to time offer this strategy for
other funds under its management. Switching from a Shariah-compliant fund to a
conventional fund is not encouraged especially for Muslim Unit Holders.
RAM
RAM Rating Services Berhad.
Ringgit/RM and sen
Ringgit Malaysia and sen respectively.
SACSC
Shariah Advisory Council of the Securities Commission Malaysia.
SC
Securities Commission Malaysia.
Shariah
Islamic Law comprising the whole body of rulings pertaining to human conducts
derived from sources of Shariah.
short term
Means a period of less than one (1) year.
Shariah
requirements
A phrase or expression which generally means making sure that any human conduct
must not involve any prohibition and that in performing that conduct all the essential
elements that make up the conduct must be present and each essential element must
meet all the necessary conditions required by the Shariah for that element.
Single Pricing
Selling of Units by the Management Company (i.e. when you purchase Units) and
repurchase of Units by the Management Company (i.e. when you liquidate your Units)
will be carried out at NAV per Unit (the actual value of a Unit). The sales charge or
repurchase charge (if any) would be computed separately based on your investment
or liquidation amount.
Special Resolution
Means a resolution passed at a meeting of Unit Holders duly convened in accordance
with the Deed and carried by a majority in number representing at least three-fourths
of the value of the Units held by the Unit Holders voting at the meeting in person or by
proxy.
sukuk
Refers to certificates of equal value which evidence undivided ownership or
investment in the assets using Shariah principles and concepts endorsed by the
SACSC, but shall not include any agreement for a financing/investment where the
financier/investor and customer/investee are signatories to the agreement and where
the financing/investment of money is in the ordinary course of business of the
financier/investor, and any promissory note issued under the terms of such an
agreement.
transferable
securities
Equities, debentures and warrants.
Trustee(s)
Respectively, Maybank Trustees Berhad, CIMB Commerce Trustee Berhad and CIMB
Islamic Trustee Berhad.
Unit
A measurement of the interest and/or right of a Unit Holder in the Fund and means a
unit of the Fund.
Unit Holder
The person for the time being who is registered pursuant to the deed as a holder of
Units, including a Jointholder.
Libra Invest Berhad
Master Prospectus
Funds managed and administered by the Management Company are:
Abbreviated Fund Name
Fund
Unit Trust Funds:
ASnita
ASnitaBOND
BondEXTRA
LREF
DividendEXTRA
EquityEXTRA
IncomeEXTRA
LCLAF
LLF
MoneyEXTRA
SyariahEXTRA
TacticalEXTRA
VersatileEXTRA
Wholesale Funds :
(this is applicable for Qualified Investor only)
LDS
Libra Dana Safa
LIIF 1
Libra Institutional Income Fund 1
LSOF
Libra Strategic Opportunity Fund
LPIF
Libra PREMIER Income Fund
LAIF
Libra AMMAR Income Fund
LMEF II
Libra MoneyEXTRA Fund II
LVOF
Libra Value Opportunity Fund
4
Libra Invest Berhad
Master Prospectus
2. CORPORATE DIRECTORY
Management Company
:
Registered Office
:
2nd Floor, West Wing
Bangunan ECM Libra
8 Jalan Damansara Endah
Damansara Heights
50490 Kuala Lumpur
Business Address
:
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
General Line: 603-2089 1888
Investor Care Line: 603-2089 1883
Fax: 603-2096 1020 / 2096 1662
E-mail: invest@ecmlibra.com
Website: www.librainvest.com
Please check our website for any changes in the addresses and contact numbers
Board of Directors
:
Datuk Kamarudin bin Md Ali (Chairman & independent non-executive
director)
Khairudin bin Ibrahim (Independent non-executive director)
Mahadzir bin Azizan (Independent non-executive director)
Gareth Lim Tze Xiang (Non-independent non-executive director)
Chin Jon Wei (Alternate director to Gareth Lim Tze Xiang)
Mohd Fadzil bin Mohamed (Chief executive officer/non-independent
executive director)
Investment
Committee Members
:
Mahadzir bin Azizan (Chairman & independent member)
Khairudin bin Ibrahim (Independent member)
Datuk Kamarudin bin Md Ali (Independent member)
Gareth Lim Tze Xiang (Non-independent member)
Mohd Fadzil bin Mohamed (Non-independent member)
Azlin binti Arshad (Non-independent member)
Company Secretary
:
Chan Soon Lee (MIA 2562)
2nd Floor, West Wing
Bangunan ECM Libra
8, Jalan Damansara Endah
Damansara Heights
50480 Kuala Lumpur
ECM Libra Financial Group
Berhad, Board Audit &
Risk Management
Committee Members
:
Datuk Kamarudin bin Md Ali (Chairman & independent non-executive
director)
Dato‟ Othman bin Abdullah (Independent non-executive director)
Mahadzir bin Azizan (Independent non-executive director)
5
Libra Invest Berhad
Master Prospectus
The Trustee(s) & its Delegates
(local & foreign)
Registered Office and
Business Address
:
34th Floor, Menara Maybank
100, Jalan Tun Perak
50050 Kuala Lumpur
Tel : 603 - 2078 8363 / 2070 8833
Fax: 603 - 2070 9387
Local Custodian
Registered Office
:
Malayan Banking Berhad (3813-K)
50050 Kuala Lumpur
Tel : 603 - 2074 7111
Fax: 603 - 2032 1572
Business Address
:
50050 Kuala Lumpur
Tel : 603 - 2074 7111 / 2070 8833
Fax: 603 - 2070 0966
Website : www.maybank2U.com.my
Foreign Custodian
Registered Office
:
Standard Chartered Bank Malaysia Berhad (115793-P)
Level 16, Menara Standard Chartered
30, Jalan Sultan Ismail
50250 Kuala Lumpur
Tel : 603 - 2117 7777
Website: www.standardchartered.com.my
Business Address
:
Mezzanine Floor, Menara Standard Chartered
50250 Kuala Lumpur
Tel : 603 - 2781 7319 / 2781 7327
Fax: 603 - 2711 6060
E-mail : my.securitiesservices@sc.com
Registered Office
:
CIMB Islamic Trustee Berhad (167913-M)
Level 13, Menara CIMB
Jalan Stesen Sentral 2
Kuala Lumpur Sentral
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 0099
Website : www.cimb.com
Business Address
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9889
6
Libra Invest Berhad
Master Prospectus
The Trustee(s) and its Delegates
(local and foreign)
Custodian
Registered Office
:
CIMB Islamic Nominees (Tempatan) Sdn Bhd (8424-H)
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 8889
Website : www.cimb.com
Business Address
:
50470 Kuala Lumpur
Tel : 603 - 2261 8888
Fax: 603 - 2261 9892
Registered Office
:
CIMB Commerce Trustee Berhad (313031-A)
50470 Kuala Lumpur
Tel: 03 - 2261 8888
Fax: 03 - 2261 0099
Web: www.cimb.com
Business Address
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9889
Custodian
Registered Office
:
CIMB Group Nominees (Tempatan) Sdn Bhd (274740-T)
Business Address
:
50470 Kuala Lumpur
Tel : 03 - 2261 8888
Fax: 03 - 2261 9892
Shariah adviser
Registered Office
:
IBFIM (763075-W)
No 149A, 149B, 151B
Persiaran Raja Muda Musa
42000 Port Klang
Selangor Darul Ehsan
50470 Kuala Lumpur
Tel: 03 - 2261 8888
Fax: 03 - 2261 8889
Web: www.cimb.com
7
Libra Invest Berhad
Master Prospectus
Business Address
:
3rd Floor, Menara Takaful Malaysia
Jalan Sultan Sulaiman
50000 Kuala Lumpur
Tel : 603 - 2031 1010
Fax: 603 - 2078 5250
Website : www.ibfim.com
Federation of Investment
Managers Malaysia (272577-P)
:
19-06-1, 6th Floor, PNB Damansara
19, Lorong Dungun
Damansara Heights
50490 Kuala Lumpur
Tel : 603 - 2093 2600
Fax: 603 - 2093 2700
E-mail: info@fimm.com.my
Auditors
:
Ernst & Young (AF 0039)
Level 23A, Menara Milenium
Jalan Damanlela
Pusat Bandar Damansara
50490 Kuala Lumpur
Tel: 603-7495 8000
Fax: 603-2095 5332
Tax Adviser
:
PricewaterhouseCoopers Taxation Services Sdn Bhd (464731-M)
Level 10, 1 Sentral, Jalan Travers
P.O.Box 10192
50706 Kuala Lumpur, Malaysia
Tel : 603 - 2173 1188
Fax: 603 - 2173 1288
Principal Bankers
:
Malayan Banking Berhad (3813-K)
Ground Floor, Block C
Kompleks Pejabat Damansara
Jalan Semantan
Bukit Damansara
50490 Kuala Lumpur
Standard Chartered Bank Malaysia Berhad (115793-P)
50250 Kuala Lumpur
Tel: 603 - 2117 7777
Website: www.standardchartered.com.my
Solicitors
:
Raja Darryl & Loh
Advocates and Solicitors
18th Floor, Wisma Sime Darby
Jalan Raja Laut
50350 Kuala Lumpur
Malaysia.
Tel: 603 - 2694 9999
Fax: 603 - 2698 4759
8
Libra Invest Berhad
Master Prospectus
9
3. INVESTMENT STRATEGY - oneINVEST / oneINVEST Islamic
oneINVEST /
oneINVEST Islamic
Equity
Non-Equity (Islamic)

EquityEXTRA Fund

DividendEXTRA Fund
(Equity Funds)

ASnitaBOND Fund
(Bond Fund)
Equity (Islamic)

Amanah Saham Wanita
(Equity Fund)
Unlimited Free Switches
Switching from a Shariah-compliant Fund to a conventional Fund is not encouraged especially for Muslim
Unit Holders.
oneINVEST
/ oneINVEST Islamic is an investment strategy that comprises two types of diversified,
professionally managed unit trust funds – equity and non-equity Funds, and is categorised into
conventional and Shariah-compliant funds. The strategy is designed for investors who wish to participate
simultaneously in two major asset classes while retaining total flexibility in the asset allocation decision.
The Funds complement each other in terms of their contrasting attributes and the investment strategy
seeks investor’s active participation by allowing easy, convenient switching between the Funds when there
is a change in market conditions and interest rate direction, or a change in the investor’s risk tolerance and
investment objectives.
Your Choice of Asset Class
Each Fund is designed with different objectives, which allows the investor maximum flexibility to choose the Fund
that best meets his investment goals and risk tolerance depending on the changes in market conditions and interest
rate direction. The following Funds are open-ended unit trust funds:
 ASnitaBOND (Islamic bond/income fund);
 EquityEXTRA (equity/growth fund);
 DividendEXTRA (equity/income fund); and
 ASnita (Islamic equity/growth and to a lesser extent income fund).
You may invest in one or more Funds with complete flexibility to switch between the Funds. The switches are free
and at NAV per Unit to NAV per Unit, subject to the availability of Units. No switching fee is imposed on any of the
switches so as to encourage profit taking (if any) (i.e. from holding in equity Funds and reinvestment in bond
Funds.) The switches also facilitate „cost averaging‟ by shifting the holding in bond Funds to equity Funds gradually,
over a reasonable time interval.
Libra Invest Berhad
Master Prospectus
10
STANDALONE ASNITABOND
Investors may invest in ASnitaBOND on a standalone basis (for those who do not want or who are not ready to
invest in the equity market) without the benefit of the switch option available to them if they were to invest through
oneINVEST / oneINVEST Islamic. Investors can avail themselves to the oneINVEST / oneINVEST Islamic switch
option through a conversion facility (refer to page 24 for details).
The standalone ASnitaBOND refer to the ASnitaBOND Fund under the oneINVEST /
which has no switch option but charges a lower sales charge.
oneINVEST Islamic strategy
Special Features and Advantages of Investing Through oneINVEST / oneINVEST Islamic
Investor Driven
 Allows investor to set up an investment portfolio reflecting his individual risk profile, objective and investment
time frame.
Dynamic yet Flexible
 Designed for maximum flexibility by allowing multiple switches between the Funds to take advantage of
changes in market conditions and interest rate direction.
 Unlimited free of charge switches between equity Funds and non-equity Funds at NAV per Unit to NAV per
Unit.
Professional Management
 Disciplined top down investment process incorporating appraisal of global and domestic economic trends, asset
class evaluation, sector analysis and security analysis.
 Prudent risk management procedures and diversification.
Active Participation by the Investor
 Enables investor to be more financially aware of changing trends in the financial markets and the impact on his
investments.
 Encourages investor to adopt a more pro-active approach to personal investing.
Convenience and Expertise
 The fund managers will conduct detailed investment research which the individual investor may not have the
time or resources to carry out.
 The investor is kept informed with regular performance reports and market updates.
 Rebalancing or adjustments of the portfolio can be done conveniently by filing up and submitting a switch form
to any Nationwide Investor Care and Service Centres.
Transparency and Single Pricing (with sales charge)
 It is the pricing method whereby selling of units by the Management Company (i.e. when you purchase units)
and repurchase of units by the Management Company(i.e. when you liquidate your units) will be carried out at
NAV per Unit (the actual value of a unit). The sales or repurchase charge (if any) would be computed
separately based on your net investment or liquidation amount and separate from the price per unit. With
„Single Pricing‟, you invest and liquidate at one price – NAV per Unit (i.e. there is no spread between the selling
price and buying price).
 LIB adopted this practice since its establishment in September 1999 which follows the international trend.
 In this pricing methodology, investments and liquidations in unit trust funds are made at NAV per Unit at the
end of a valuation point (usually at the end of the Business Day). Hence, at the point of investment, you can
readily determine the maximum charge (computed based on your net investment amount) you would incur even
before the NAV per Unit is known. The charge is clearly stated in your confirmation of investment (separate
from your net investment sum) which is generally sent to the investor within ten (10) Business Days.
Libra Invest Berhad
Master Prospectus
11
Competitive and Fair Sales Charge
 Timely and efficient service at competitive and fair cost is the service philosophy which drives LIB. Presently,
the maximum sales charge for investments through other than through EPF Members‟ Investment Scheme is
5% of the Fund‟s NAV.
Deal Direct
 In its commitment to bring personalised investor care and attention to its investors, LIB has made a unique
stance to offer its funds and investment expertise predominantly through its full-time salaried employees.
However, investors may opt to go through appointed third party distributors or agency force. As salaried
employees of the company, they are focused on enhancing investors‟ total investment experience with LIB over
the long term.
Regular All-In-One Statement/Report

Investors will regularly receive an all-in-one statement/report showing their oneINVEST / oneINVEST Islamic
portfolio performance. Details of initial and additional investments plus value and cost of your unitholdings are
clearly set out in our regular all-in-one statement/report. These detailed updates are designed to provide you
with the necessary information to better monitor your long term investment goals.
Libra Invest Berhad
Master Prospectus
12
4. KEY DATA
Fund Information
This section is only a summary of the salient information about the Funds. Investors should read and
understand the whole Master Prospectus before making investment decisions.
Fund Name
Fund Category
Fund Type
Inception Date
IncomeEXTRA
Balanced
Income and Growth
10 September 1999
EquityEXTRA
Equity
Growth
10 September 1999
BondEXTRA
Bond
Growth
8 October 2002
MoneyEXTRA
Bond
Income
8 October 2002
VersatileEXTRA
Balanced
Growth and to a lesser extent
income
28 October 2002
DividendEXTRA
Equity
Income
18 March 2005
TacticalEXTRA
Equity
Growth
18 March 2005
LCLAF
Equity
Growth
18 July 2007
LLF
Money Market
Income
18 February 2009
LREF
Equity
Capital Growth
18 March 2011
SyariahEXTRA
Balanced(Shariah)
income
12 March 1996
ASnita
Equity(Shariah)
income
4 May 1998
ASnitaBOND
Bond(Shariah)
Income
18 March 2005
Page(s)
-
Libra Invest Berhad
Master Prospectus
13
Fund Information
Fund Name
Fund Description
IncomeEXTRA
IncomeEXTRA is an open-ended unit trust fund, investing in fixed income securities
(including money market instruments) and equities.
39
EquityEXTRA
EquityEXTRA is an open-ended unit trust fund, with a medium to long-term
investment horizon, which invests primarily in equities and equity-related securities.
42
BondEXTRA
BondEXTRA is an open-ended unit trust fund investing primarily in high yield, longterm fixed income securities.
44
MoneyEXTRA
MoneyEXTRA is an open-ended unit trust fund, investing primarily in very shortterm, highly liquid, near cash and money market instruments and partially in fixed
income securities.
46
VersatileEXTRA
VersatileEXTRA is an open-ended unit trust fund investing in a blend of quoted
securities, bonds, and other money market instruments and other financial
derivatives.
49
DividendEXTRA
DividendEXTRA is an open-ended unit trust fund, with a medium to long-term
investment horizon, which invests principally in high dividend yield stocks.
52
TacticalEXTRA
TacticalEXTRA is an open-ended unit trust fund investing in quoted equities of
companies primarily with large market capitalization (big caps), bonds and other
money market instruments according to market outlook and economic conditions.
54
LCLAF
LCLAF is an open-ended regional unit trust fund, which seeks to offer investors a
wider investment universe of quality growth stocks by investing primarily in those
that offer exposure to the consumer and leisure sector in Asia. The Fund will be a
proxy to the growth prospects of this burgeoning sector which is expected to be a
major beneficiary of rising disposable income in the region. In turn, investors will
earn potentially attractive returns. The Fund‟s key performance is to search for
positive absolute returns over the medium to long-term (3-5 years) investment
horizon.
57
LLF
LLF is an open-ended unit trust fund, investing primarily in Ringgit-denominated
short-term deposits with licensed financial institutions.
60
LREF
LREF is an open ended global unit trust fund which will invest at least 70% of its
NAV in equities and equity-related securities of companies that are involved in the
exploration for and the development, production and marketing resources products
such as energy, minerals, agriculture and related industries globally which are listed
on the stock exchanges of countries listed in the MSCI ACWI (except for the
excluded countries mentioned in the investment strategy of the LREF in Section 6).
62
SyariahEXTRA
SyariahEXTRA is an open-ended unit trust fund investing in a blend of quoted
Shariah-compliant equities, sukuk and other Islamic money market instruments and
other Shariah-compliant derivatives (where available), which have been approved by
the SACSC and /or the Shariah adviser.
65
ASnita
ASnita is an open-ended unit trust fund with long-term (> 5 years) investment
horizon, which invests primarily in quoted Shariah-compliant equities and equityrelated securities.
68
ASnitaBOND
ASnitaBOND is an open-ended unit trust fund with a short to medium-term
investment horizon, which invests primarily in sukuk.
71
Note: We regard 1-3 years as medium-term and above 3 years as long-term.
Page(s)
Libra Invest Berhad
Master Prospectus
14
Fund Information
Fund Name
Fund Objective
Page(s)
IncomeEXTRA
The Fund aims to provide investors with income* and capital appreciation over a
medium to long term investment horizon by investing in a balanced portfolio of fixed
income instruments and equities.
39
EquityEXTRA
The primary objective of the Fund is to maximize capital returns over a medium to
long-term period by investing in an actively-managed, diversified portfolio of equity
and equity-related securities.
42
BondEXTRA
The primary objective of the Fund is to provide investors with aggressive long-term
capital growth through investment in high yielding fixed income securities with a
relatively high level of market and financial risks.
44
MoneyEXTRA
The primary objective of the Fund is to maintain a high degree of liquidity while
providing current income through a direct investment portfolio investing in shortterm, high quality Ringgit-denominated money market instruments.
46
VersatileEXTRA
The primary objective of the Fund is to provide investors medium to long-term
capital appreciation through its investments in specified asset classes by adopting a
relatively balanced approach towards equities and fixed income exposure. The Fund
aims to achieve capital growth with lower and short-term volatility than is normally
associated with a pure equity fund.
49
DividendEXTRA
The Fund seeks to achieve relatively stable returns via income and capital
appreciation over the medium to long-term by investing principally in high dividend
yield stocks.
52
TacticalEXTRA
The Fund aims to provide investors medium to long-term capital appreciation by
investing principally in liquid equities with large market capitalization (big caps), and
fixed income instruments with flexible asset allocation.
54
LCLAF
The Fund seeks to provide capital appreciation over the medium to long-term by
investing in a diversified portfolio comprising stocks of companies in Asia which are
considered to have strong growth prospects and are able to benefit from the rising
wealth effect of the region‟s middle class population.
57
LLF
The Fund seeks to preserve capital and maintain a high degree of liquidity while
providing steady income with minimal risk by investing primarily in short-term
deposits.
60
LREF
The Fund seeks to achieve capital growth over a medium to long-term period by
investing primarily in equities and equity-related securities traded globally. The Fund
may also invest in fixed income securities, structured products and money market
instruments.
62
SyariahEXTRA
The Fund aims to provide investors with medium to long-term capital appreciation
through investments in specified asset classes by adopting a relatively balanced
approach towards equities and fixed income exposure based on the Shariah
principles. The Fund aims to achieve capital growth with lower short-term volatility
than is normally associated with a pure equity fund.
65
ASnita
The primary objective of the Fund is to offer relatively good and safe capital growth
over the long-term period by investing principally in an actively-managed, diversified
portfolio of Shariah-compliant equities and equity-related securities.
68
ASnitaBOND
The Fund aims to provide capital preservation with regular income over the short to
medium-term period by investing in Islamic money market instruments and other
Shariah-approved fixed income securities.
71
* Distribution of income will primarily be done by way of reinvestment into additional Units. Kindly refer to the
distribution policy at page 119 of the Master Prospectus for full details.
Libra Invest Berhad
Master Prospectus
15
Fund Information
Fund Name
Investment Strategy
IncomeEXTRA
The Fund invests primarily in income-generating securities from both fixed income
and equity asset classes. The Fund will be anchored by a relatively stable portfolio
of fixed income securities which would be held for their regular income yield.
Concurrently, the Fund will also invest equities that offer high dividend yields.
Growth will be the secondary objective of the Fund, which the Manager expects to
derive from the gradual capital appreciation of the high-dividend yielding stocks, as
well as from selected picks of fundamentally undervalued stocks.
39
EquityEXTRA
The Fund invests principally in equities and equity-related securities in Malaysia.
42
BondEXTRA
The Fund invests principally in long-term bonds and fixed income securities. Its key
performance is entirely in search of consistent absolute returns over the long-term
investment horizon.
44
MoneyEXTRA
The Fund adopts an investment strategy which will provide a return comparable to
that of Ringgit-denominated short-term money market deposits, and at the same
time, preserve the Fund‟s principal value and maintain a high degree of liquidity.
46
VersatileEXTRA
The Fund invests principally in a balanced portfolio consisting of equities, equityrelated securities and fixed income securities. Its key performance is entirely in
search of consistent absolute returns over the medium to long-term investment
horizon. It is a Malaysian focus fund but it may invest up to 30% of its NAV offshore.
49
DividendEXTRA
The Fund invests principally in high dividend yield stocks. It is a Malaysian focus
fund but it may invest up to 30% of its NAV offshore.
52
TacticalEXTRA
The Fund invests primarily in a portfolio of equities comprising large-cap companies
in search for returns against the backdrop of a bullish market. During market
uncertainty, it shall adopt a relatively defensive approach and have more fixed
income exposure to provide capital preservation or to invest tactically. Its key
performance is entirely in search of absolute returns over the medium to long-term
investment horizon.
54
LCLAF
The Fund will have two concurrent strategies. On a macro level, the Fund will look
for upcoming trends or emerging areas of growth in the Asian consumer and leisure
sectors. These could arise, for example, from new developments in other global
markets or from new direct investments. On a micro level, the Fund will seek
undervalued consumer and leisure related companies that have yet to be re-rated to
their intrinsic values. These companies should have a strong business franchise, be
professionally managed and have proven business strategies.
57
LLF
The Fund invests up to 100% of its NAV in Ringgit-denominated short-term deposits
with licensed financial institutions.
60
LREF
The Fund aims to achieve its investment objective through a diversified investment
portfolio of equities and equity-related securities which are listed on the stock
exchanges of countries listed in the MSCI ACWI (except for the excluded countries
mentioned in the investment strategy of the LREF in Section 6). The fund will invest
at least 70% of its NAV in exploration for and the development, production and
marketing of resources products such as energy, minerals, agriculture and related
industries. The Fund may also invest in other investments depending on the market
outlook and economic conditions.
62
SyariahEXTRA
The Fund‟s key performance is entirely in search of consistent absolute returns, over
the medium to long-term investment horizon.
65
ASnita
The Fund generally adopts an investment strategy which emphasises on appropriate
asset allocations in different market conditions to enhance risk-adjusted returns.
68
ASnitaBOND
The Fund adopts an investment strategy which will provide returns comparable to
that of short-term Islamic money market deposits, and at the same time preserve the
Fund‟s principal value and maintain a high degree of liquidity.
71
Page(s)
Libra Invest Berhad
Master Prospectus
16
Fund Information
Fund Name
IncomeEXTRA
EquityEXTRA
BondEXTRA
Asset Allocation


Page(s)
39

Minimum 40% to 60% of the Fund‟s NAV in equities;
Minimum 40% to 60% of the Fund‟s NAV in fixed income securities (including
money market instruments) and liquid assets; and
Minimum 2% of the Fund‟s NAV in liquid assets.


Minimum 70% of the Fund‟s NAV in equity and equity-related securities; and
42

Minimum 70% of the Fund‟s NAV in fixed income instruments (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies); and

44
Weighted average term to maturity is expected to be approximately 4 to 8 years,
under normal circumstances.



MoneyEXTRA
Minimum 70% of the Fund‟s NAV in cash, deposits and other liquid assets;
Up to 30% of the Fund‟s NAV will be invested in money market instruments,
bonds with a minimum rating of A3 by RAM or equivalent rating by other rating
agencies, and commercial papers with a rating of P2 by RAM or equivalent
rating by other rating agencies; and
Minimum 2% of the Fund's NAV shall be in liquid assets.
Weighted average term to maturity is expected to be approximately 1 to 24 months,
under normal circumstances.
46
Note: other liquid assets include, but are not limited to, securities issued by the
government or quasi-government bodies, including but not limited to Khazanah,
Cagamas, Danaharta, Danamodal and BNM, securities guaranteed by the
government and private debt securities which have been accorded a rating of P1 by
RAM or equivalent rating by other rating agencies.


49

40% to 60% of the Fund‟s NAV in quoted equity and equity-related securities;
40% to 60% of the Fund‟s NAV in fixed income securities (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies) and liquid assets;
and


Minimum 70% of the Fund‟s NAV in equity and equity-related securities; and
52


Minimum 70% of the Fund‟s NAV in quoted equity and equity-related securities;
Maximum 30% of the Fund‟s NAV in fixed income securities (minimum P3 or
BBB3 by RAM or equivalent rating by other rating agencies); and
54
57
VersatileEXTRA
DividendEXTRA
TacticalEXTRA


LCLAF


Generally, at least 70% of the Fund‟s NAV in equity and equity-related
securities, while maintaining a minimum of 50% in non-Malaysian equity;
Minimum 10% of the Fund‟s NAV in fixed income securities (Malaysia); and
LLF

Up to 100% of the Fund‟s NAV in short-term deposits.
60
LREF




Minimum 70% of the Fund‟s NAV in equity and equity-related securities;
Maximum 28% of the Fund‟s NAV in fixed income securities;
Maximum 15% of the Fund‟s NAV in structured products; and
Minimum 2% of the Fund‟s NAV in cash or liquid assets
62
Libra Invest Berhad
Master Prospectus
17
Fund Information
Fund Name
Asset Allocation

SyariahEXTRA



ASnita

Page(s)
40% to 60% of the Fund‟s NAV in quoted Shariah-compliant equities and
equity-related securities;
40% to 60% of the Fund‟s NAV in sukuk (minimum P3 or BBB3 by RAM or
equivalent rating by other rating agencies) and Islamic liquid assets; and
Minimum 2% of the Fund‟s NAV in Islamic liquid assets.
65
Minimum 70% of the Fund‟s NAV in quoted Shariah-compliant equities and
equity-related securities; and
Minimum 2% of the Fund‟s NAV in Islamic liquid assets.
68
Minimum 70% of the Fund‟s NAV in sukuk; and
Minimum 2% of the Fund‟s NAV in cash, Islamic deposits & other Islamic liquid
assets.
71
ASnitaBOND


Fund Name
Performance Benchmark
IncomeEXTRA
50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months fixed deposit
rate (source: www.bloomberg.com) (Note 1)
39
EquityEXTRA
FBM100
42
BondEXTRA
Maybank 12-months fixed deposit rate
44
MoneyEXTRA
Average repurchase agreement (Repo) rate on the short-term money market
instrument / deposits offered to the Fund
46
VersatileEXTRA
The benchmark for VersatileEXTRA is VE benchmark. VE benchmark consists of
50% FBM100 and 50% Maybank 12-months fixed deposit rate (Note 1)
49
DividendEXTRA
FBM100
52
TacticalEXTRA
The benchmark for TacticalEXTRA is TE benchmark. TE benchmark consists of
50% FBM100 and 50% Maybank 12-months fixed deposit rate (Note 2) and Other
Benchmarks # (Note 3)
54
LCLAF
MSCI AC Asia Consumer Discretionary Index (source: www.bloomberg.com)
57
LLF
Maybank Overnight Repo rate
60
LREF
MSCI ACWI
62
SyariahEXTRA
The benchmark for SyariahEXTRA is SE benchmark. SE benchmark consists of
50% FBM EMAS Shariah Index and 50% Maybank 12-months GIA-i rate (Note 1)
65
ASnita
FBM EMAS Shariah Index
68
ASnitaBOND
Maybank 6-months GIA-i Tier I rate
71
Page(s)
Note 1: Over the long-term, equity asset allocation would range between 40%-60% of the Fund‟s NAV and fixed
income and cash would range between 40%-60% of the Fund‟s NAV. Therefore, the composite benchmark is a
reflection of the Fund‟s average asset allocation over the long-term of 50% of the Fund‟s NAV in equity and 50% of
the Fund‟s NAV in fixed income and cash.
Note 2: Over the long-term, equity asset allocation would range between 30%-70% of the Fund‟s NAV and fixed
income and cash would range between 30%-70% of the Fund‟s NAV. Therefore, the composite benchmark is a
Libra Invest Berhad
Master Prospectus
18
Note 3:
1)
If the Fund invests more than 95% of the Fund‟s NAV in equities – 100% FBM100.
2)
If the Fund invests more than 95% of the Fund‟s NAV in fixed income – 100% Maybank 12-months fixed
deposit rate.
#
Investors can apply these benchmarks to assess the performance of the Fund according to such asset
allocation.
Unit Holders may contact the Management Company or visit our website at www.librainvest.com to obtain the most
up-to-date information on the performance benchmark. Please refer to Additional Information on page 154 on how
to reach the Management Company. For IncomeEXTRA, LCLAF and LREF, please refer to www.bloomberg.com
and www.reuters.com to obtain the performance benchmark.
Fund Name
Principal Risks
IncomeEXTRA
Market Risk
 risk resulting from changes in economic outlook.
Unsystematic Risk
 risk that is specific to a company arising from changes in
business variables that are unique to the company. It
can be reduced through diversification, unlike
systematic risk (or market risk) which is inherent in the
entire market and cannot be diversified away.
Country Risk
 risk that is specific to a country that the Fund invests in.
Currency Risk
 risk resulting from fluctuation in foreign exchange rates.
Credit/Default Risk
Interest Rate Risk
Liquidity Risk
EquityEXTRA
BondEXTRA
and
MoneyEXTRA
VersatileEXTRA
and
TacticalEXTRA
Page(s)
 risk that the issuer is unable to pay interest/profit due
and/or the principal amount on time.
 risk resulting from unforeseen movements in the
direction of interest rates.
 risk that a security would have to be sold below its fair
value due to low trading volume.
Market Risk
Specific Risk
 risk resulting from changes to a particular company.
Liquidity Risk
Credit/Default Risk
Liquidity Risk
Inflation/Purchasing
Power Risk
 risk that inflation would reduce the purchasing power of
money.
Interest Rate Risk
Credit/Default Risk
Market Risk
Specific Risk
Liquidity Risk
Power Risk
money.
Interest Rate Risk
35-38
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
Principal Risks
DividendEXTRA
Market Risk
Specific Risk
Liquidity Risk
Currency Risk
Country Risk
 risk that is specific to a country invested in.
Liquidity Risk
Market Risk
Specific Risk
Sectorial Risk
 risk resulting from a downturn in specific sectors.
LLF
Financial Institution
Risk
 risk that the licensed financial institution defaults on its
obligations to pay back deposit and interest on demand.
LREF
Market Risk
Country Risk
 risk that is specific to a country invested in.
Currency Risk
Sectorial Risk
 risk resulting from a downturn in specific sectors.
Specific Risk
Derivatives Risk
 risk resulting from financial contracts whose value
derived from underlying asset, reference rate or index.
Interest Rate Risk
Credit/Default Risk
 risk that the issuer is unable to pay profit due and/or the
principal amount on schedule.
Liquidity Risk
LCLAF
Page(s)
35-38
19
Libra Invest Berhad
Master Prospectus
Fund Information
Fund Name
SyariahEXTRA
ASnita
Principal Risks
Page(s)
Credit/Default Risk
principal amount on schedule.
Market Risk
Specific Risk
Liquidity Risk
 risk that a Shariah-compliant security would have to be
sold below its fair value due to low trading volume.
Power Risk
money.
Interest Rate Risk
Note: The movement in interest rate may affect value of
investment, it does not, however, suggest that the Fund
invests in interest bearing instruments/deposit.
Reclassification of
Shariah Status Risk
 risk that a security may be classified from Shariahcompliant to Shariah non-compliant in the 6 monthly
review.
Specific Risk
Liquidity Risk
Reclassification of
Shariah Status Risk
 risk that a security may be classified from Shariahcompliant to Shariah non-compliant in the 6 monthly
review.
Credit/Default Risk
principal amount on time.
Liquidity Risk
Power Risk
money.
Interest Rate Risk
 Note: The movement in interest rate may affect value of
investment, it does not, however suggest that the Fund
invests in interest bearing instruments/deposits
Market Risk
 risk resulting from changes in economic outlook
35-38
ASnitaBOND
20
Libra Invest Berhad
Master Prospectus
Potential Price
Fluctuation
Suggested Investment
Horizon for Investors
Financial Year End
IncomeEXTRA
Medium
3 to 5 years
31 December
EquityEXTRA
Relatively High
3 to 5 years
31 December
BondEXTRA
Low to Medium
3 to 5 years
31 December
Relatively Very Low
1 to 12 months
31 December
VersatileEXTRA
Medium to High
3 to 5 years
31 December
DividendEXTRA
Medium
3 to 5 years
31 December
TacticalEXTRA
Relatively High
3 to 5 years
31 December
High
3 to 5 years
31 December
Relatively Very Low
1 to 12 months
30 September
LREF
Medium to High
Above 2 years
30 September
SyariahEXTRA
Medium to High
Above 5 years
31 December
ASnita
Relatively High
Above 5 years
31 December
ASnitaBOND
Relatively Low
3 to 5 years
31 December
Fund Name
MoneyEXTRA
LCLAF
LLF
21
Page(s)
-
Libra Invest Berhad
Master Prospectus
22
Fund Information
Fund Name
IncomeEXTRA
EquityEXTRA
Investor’s Profile

Investors seeking for steady absolute capital growth and income* over the
medium to long-term horizon at a moderate level of risk.

Relatively aggressive investors aiming for potentially higher returns that
outperform the FBM100;
Medium to long-term investors who may not have the time or expertise to
monitor investments in a risky asset class;
Investors who have spare cash with no immediate use; and
Investors who are ready to switch back into non-equity fund.



BondEXTRA
MoneyEXTRA
VersatileEXTRA

Long-term investors who are seeking to invest in high yield fixed income
securities with commensurate level of risk.

Investors who are looking for a safe investment vehicle to manage their shortterm cash holdings more effectively.

Investors who place high importance in ensuring that the monetary value of
their investment retains its purchasing power through steady absolute capital
growth and income over the medium to long-term horizon at a moderate level
or risk; and
Investors who are seeking to invest in a balanced portfolio of equities and fixed
income securities, but do not have the time or expertise to monitor their
investment or to make the tactical call to enter or swap one asset class to the
other at the appropriate times.



DividendEXTRA




TacticalEXTRA


LCLAF



LLF

Page(s)
-
Fairly conservative investors aiming for equity returns but with less volatility
than a growth fund;
Medium to long-term investors who seek to participate in a diversified portfolio
of dividend paying stocks;
Investors who have spare cash with no immediate use; and
Investors who are ready to switch back into non-equity fund/equity fund in
anticipation of a change in market condition.
Investors who want to maximise returns attributable to asset allocation;
Investors who are relatively aggressive aiming for absolute capital growth and
return through an active investment approach over the long-term horizon, at a
moderate to high level of risk; and
Investors who are seeking to invest in equities and fixed income securities, but
do not have the time or expertise to monitor actively their investments or to shift
allocation between the asset classes at the appropriate times.
Investors who wish to participate in a well diversified investment portfolio in the
Asia Pacific markets;
Investors who are seeking capital growth and return but do not have the time to
monitor their investments in a risky asset class;
Investors with medium to long-term investment horizon; and
Investors who have spare cash with no immediate use.
Investors who seek regular income whilst maintaining capital stability and have
a short-term investment horizon with low risk tolerance.
distribution policy at page 119 of the Master Prospectus for full details.
Libra Invest Berhad
Master Prospectus
23
Fund Information
Fund Name
Investor’s Profile

LREF


SyariahEXTRA


ASnita



ASnitaBOND


Page(s)
Investors who seek capital growth over a medium to long-term investment
horizon; and
Investors who wish to participate in the medium to long-term capital growth
potential of companies engaged in the exploration for and the development,
production and marketing of resources products such as energy, minerals,
agriculture and related industries.
Investors who place high importance in ensuring that the monetary value of
their investment retains its purchasing power, through steady absolute capital
growth and income, over the medium to long-term period, at a moderate level or
risk; and
Investors who are seeking to invest in a balanced portfolio of quoted Shariahcompliant equities and sukuk, but do not have the time or expertise to monitor
their investment or to make the tactical call to enter or swap one asset class to
the other at the appropriate times.
Investors who are looking for a well diversified investment portfolio in Shariahcompliant equities and equity-related securities with the potential of providing
reasonable return, through both capital appreciation and income distribution on
their investment, over a long period of time; and
Investors who seek to invest in equities and equity-related securities that
comply with Shariah requirements but do not have the time or skills to
undertake fundamental research and to gather relevant information to guide
their investment decision.
-
Conservative investors who are looking for a relatively stable Shariah-compliant
investment with potentially higher returns than traditional bank deposits;
Short to medium-term investors seeking exposure to the wholesale sukuk
market which is not easily accessible to retail investors;
Investors who need to use their money only in the near term or as an
emergency fund; and
Investors who want to enjoy possible above-average Maybank GIA rate return
while waiting for an opportunity to invest into Shariah-compliant equity fund.
Distribution Policy
Units in Circulation as at
7 February 2014
IncomeEXTRA
Half yearly (if any)
144,725,568.62
EquityEXTRA
Annually (if any)
53,091,603.93
BondEXTRA
Half yearly (if any)
96,874,020.48
MoneyEXTRA
Quarterly (if any)
428,182,201.01
VersatileEXTRA
Annually (if any)
4,635,020.66
DividendEXTRA
Annually (if any)
16,416,724.59
TacticalEXTRA
Incidental
56,301,706.96
LCLAF
Annually (if any)
65,143,340.73
LLF
Quarterly (if any)
128,355,455.66
Incidental
15,406,256.33
SyariahEXTRA
Annually (if any)
79,185,917.06
ASnita
Annually (if any)
102,668,417.57
ASnitaBOND
Annually (if any)
189,337,101.86
Fund Name
LREF
Page(s)
-
Libra Invest Berhad
Master Prospectus
24
Fees, Charges and Expenses
The table below describes the charges that you may incur DIRECTLY when you purchase or redeem Units of the
Funds.
Charges DIRECTLY Incurred
Sales Charge
This is the maximum sales charge permitted by each distribution channels.
Fund Name
Non-EPF Member’s Investment
Scheme
EPF Member’s Investment
Scheme
Page(s)
% of the NAV per Unit
IncomeEXTRA
5*
N/A
EquityEXTRA
5*
3
BondEXTRA
1
N/A
MoneyEXTRA
Nil
N/A
VersatileEXTRA
5*
N/A
DividendEXTRA
5*
3
TacticalEXTRA
5*
3
LCLAF
5*
N/A
LLF
Nil
N/A
LREF
5*
N/A
SyariahEXTRA
5*
N/A
ASnita
5*
N/A
ASnitaBOND
5*
3
1
1
110
Standalone ASnitaBond
*The sales charge is negotiable.
Standalone ASnitaBOND (please refer to page 10 for details) Sales charge: 1% of NAV per Unit will be imposed
on investors who invest in ASnitaBOND on a standalone basis without the benefit of oneINVEST / oneINVEST
Islamic switch options.
Conversion Facility:
Unit Holders can avail themselves to the oneINVEST / oneINVEST Islamic switch option between equity
Funds and non-equity Fund by paying a one-off conversion fee of 3% of the NAV per Unit less the sales charge
paid earlier.
Note:
Switching from a Shariah-compliant Fund to a conventional Fund is not encouraged especially for Muslim Unit
Holders.
Libra Invest Berhad
Master Prospectus
25
Conversion facility is only applicable for the following Funds:
i. EquityEXTRA
ii. DividendEXTRA
iii. ASnitaBOND
iv. ASnita
EPF Member’s Investment Scheme
As of 11th March 2013, EPF members may invest in the following EPF-approved Funds:
ASnitaBOND, EquityEXTRA, TacticalEXTRA and DividendEXTRA. The list may be revised by EPF from time to
time.
The above is only applicable to investors who purchase Units via the EPF member‟s investment scheme and is
subject to changes by EPF from time to time. Please refer to the Manager for the latest list of Funds approved by
EPF for investment.
Libra Invest Berhad
Master Prospectus
26
The table below describes the charges that you may incur DIRECTLY when you purchase or redeem Units of the
Funds.
Charges DIRECTLY Incurred
Fund Name
Repurchase Charge
Dilution Fee/
Transaction Cost &
Transfer Fee
Other Charges
Nil
There are no other
charges (except
charges levied by
banks on remittance
of money) payable
directly by investors
when purchasing or
redeeming Units.
Page(s)
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
Nil
LCLAF
LLF
110
LREF
SyariahEXTRA
ASnita
ASnitaBOND
The table below describes the fees and expenses that you may incur INDIRECTLY when you invest in the Funds.
Fees INDIRECTLY Incurred
Fund Name
Annual Management
Fee
Annual Trustee Fee
IncomeEXTRA
1.15% p.a. of the
Fund‟s NAV
0.08% p.a. of the Fund‟s
NAV, subject to a minimum
of RM30,000.00 p.a.
EquityEXTRA
1.65% p.a. of the
Fund‟s NAV
of RM35,000.00 p.a.
BondEXTRA
1.00% p.a. of the
Fund‟s NAV
of RM18,000.00 p.a.
MoneyEXTRA
0.50% p.a. of the
Fund‟s NAV
of RM18,000.00 p.a.
VersatileEXTRA
1.50% p.a. of the
Fund‟s NAV
NAV
List of expenses
directly related to the
Fund
Expenses directly related
to the Funds include
auditor fees, brokerage
commission/fees, subcustodian fee, tax and
duties imposed by the
authorities. Valuation
fees, cost for
modification of deed,
cost of production and
distribution of Funds‟
reports, cost of
convening a Unit
Holders‟ meeting, other
than those incurred by or
for the benefit of the
Management Company
or Trustee, are also
direct expenses of the
Funds.
Page(s)
111-112
Libra Invest Berhad
Master Prospectus
27
The table below describes the fees and expenses that you may incur INDIRECTLY when you invest in the Funds.
Fees INDIRECTLY Incurred
Fund Name
Annual Management
Fee
Annual Trustee Fee
DividendEXTRA
1.50% p.a. of the
Fund‟s NAV
NAV (excluding foreign
custodian fee)
TacticalEXTRA
1.50% p.a. of the
Fund‟s NAV
fee of RM18,000.00 p.a
LCLAF
1.70% p.a. of the
Fund‟s NAV
NAV
LLF
0.30% p.a. of the
Fund‟s NAV
NAV
LREF
1.75% p.a. of the
Fund‟s NAV
0.08% per annum of the
Fund‟s NAV, subject to a
minimum of RM18,000 per
annum (excluding foreign
custodian fees)
SyariahEXTRA
1.50% p.a. of the
Fund‟s NAV
NAV
ASnita
1.50% p.a. of the
Fund‟s NAV
of RM50,000.00 p.a.
ASnitaBOND
1.15% p.a. of the
Fund‟s NAV
NAV
List of expenses
directly related to the
Fund
Expenses directly related
to the Funds include
auditor fees, brokerage
commission/fees, subcustodian fee, tax and
duties imposed by the
authorities, valuation
fees, cost for
modification of deed,
cost of production and
distribution of Funds‟
reports, cost of
convening a Unit
Holders‟ meeting, and
any other than those
expenses incurred by or
for the benefit of the
Management Company
or Trustee, are also
direct expenses of the
Funds.
Page(s)
111-112
Libra Invest Berhad
Master Prospectus
28
Fund Name
Other fees
payable
indirectly by an
investor
Custodian Fee
IncomeEXTRA
Note 1
EquityEXTRA
-
BondEXTRA
-
MoneyEXTRA
-
VersatileEXTRA
Note 2
DividendEXTRA
Note 3
TacticalEXTRA
Nil
LCLAF
LLF
Note 3
-
LREF
Note 3
SyariahEXTRA
-
ASnita
-
ASnitaBOND
-
Rebate & Soft Commission
The Management Company will
retain soft commissions received
from stockbrokers, provided these
are of demonstrable benefit to the
Unit Holders. The soft commissions
may take the form of goods and
services such as data and quotation
services,
computer
software
incidental to the management of the
Funds and investment related
publications. Rebates, if any, will be
directed to the account of the
respective Funds.
Page(s)
113
Custodian Fee
Note 1: IncomeEXTRA

Safekeeping fee is up to 0.06% of the NAV of the foreign portfolio according to the country which the Fund
invests in.

Transaction fee is up to USD55 per transaction according to the country which the Fund invests in.
The custodian fee will be paid to the custodian, Standard Chartered Bank (Malaysia) Berhad for investments which
are made overseas.
Note 2: VersatileEXTRA

invests in.

are made overseas.
Note 3: DividendEXTRA, LCLAF and LREF

The custodian fee payable is subject to an agreement with the custodian and will depend on the number of
transaction carried out and the place at which such transaction are effected. The custodian fee will be paid to
the custodian, for investments which are made overseas.
Libra Invest Berhad
Master Prospectus
29
Fund Name
Minimum
initial
investment
Minimum additional
investment
(RM)
Regular
(RM)
Non-regular
(RM)
5,000.00
200.00
1,000.00
Minimum
liquidation
Minimum
transfer
Minimum
balance
Page(s)
5,000
117
Units
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
2,000
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
5,000
LCLAF
LLF
100,000.00
Nil
50,000.00
10,000
5,000.00
200.00
1,000.00
2,000
LREF
SyariahEXTRA
ASnita
ASnitaBOND
The minimum transaction size specified herein may be varied by the Management Company at its absolute
discretion.
Libra Invest Berhad
Master Prospectus
30
Fund Name
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
Liquidation
Notice /
Frequency
For all Funds,
Units may be
liquidated on
any Business
Day. There is no
limit as to
frequency of
liquidation
transactions.
Liquidation
notice for
MoneyEXTRA is
one (1) Business
Day prior to
liquidation (T-1
day). There is no
limit as to
frequency of
liquidation
transactions.
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
For all Funds,
Units may be
liquidated on
any Business
Day. There is no
limit as to
frequency of
liquidation
transactions.
Liquidation
Proceeds
Transfer
Facility
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
original liquidation
form by the
Management
Company.
Transfer
between
individual
account and
corporate
account is
not allowed.
The Management
Company will use
best efforts to
make payment for
MoneyEXTRA on
the next Business
Day
(T+1 day).
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
form by the
Management
Company.
The Management
Company will use
best efforts to
make payment for
LLF on the next
Business Day
(T+1 day).
Payments are
made within ten
(10) calendar days
upon receipt of the
duly completed
form by the
Management
Company.
Switching
Facility
Minimum
Switching
Nil
Nil
Note 1
Note 2
Nil
Nil
Nil
Nil
Nil
Nil
Note 1
Note 2
Nil
Nil
Note 1
Note 2
Page(s)
117-118
Note 1: This is only offered to Active Accounts of oneINVEST / oneINVEST Islamic strategy with unlimited free
switches between equity Funds and non-equity Fund. Switching from Shariah-compliant Funds to a conventional
Fund is not encouraged especially for Muslim Unit Holders.
Note 2: This is only applicable to oneINVEST / oneINVEST Islamic investors. The minimum Units allowed for
switching is 5,000 units, or such other limit at the Management Company‟s discretion.
Libra Invest Berhad
Master Prospectus
31
Fund Name
Cooling-Off Period
Page(s)
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
Within six (6) Business Days commencing from the date of receipt of the application
by the Management Company – full refund. Applicable for initial investment by
investors in any funds managed by the Management Company for the first time.
Not applicable to corporate/institutional investors, staff of the Management Company
and a person registered with a body approved by the SC to deal in unit trusts.
118
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
Fund Name
Page(s)
Unpresented cheques for payment of liquidation requests, if not reinvested shall be
dealt with in accordance with the provisions of the Unclaimed Moneys Act, 1965.
119
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
Libra Invest Berhad
Master Prospectus
32
Other Information
The Deed constituting the Funds was entered into between the Management Company and the Trustee.
Fund Name
Deed(s) Date
Trustee for the Fund
IncomeEXTRA
Deed: 25 August 1999
First Supplemental Deed: 26 August 2002
Second Supplemental Deed: 23 September 2002
Supplemental Master Deed: 4 March 2009
Second Supplemental Master Deed: 6 May 2011
Third Supplemental Master Deed: 2 June 2011
Maybank Trustees Berhad
EquityEXTRA
First Supplemental Deed: 26 August 2002
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
Master Deed: 3 March 2005
First Supplemental Deed: 9 May 2007
Second Supplemental Deed: 30 April 2008
Third Supplemental Master Deed: 4 March 2009
Fourth Supplemental Master Deed: 6 May 2011
Fifth Supplemental Master Deed: 17 December 2013
TacticalEXTRA
Third Supplemental Deed: 3 March 2005
LCLAF
Fifth Supplemental Master Deed : 17 December 2013
LLF
Deed: 23 December 2008
Supplemental Deed: 6 May 2011
Second Supplemental Deed: 17 December 2013
LREF
Deed: 21 May 2010
Supplemental Deed: 6 May 2011
Second Supplemental Deed: 15 May 2013
Libra Invest Berhad
Master Prospectus
Fund Name
Deed(s) Date
Trustee for the Fund
SyariahEXTRA
Deed under Abrar Unit Trust Management Berhad:
7 February 1996
Supplemental Deed under Abrar Unit Trust Management
Berhad: 2 October 1998
Deed under Libra Invest Berhad: 9 August 2002
Second Supplemental Deed: 3 October 2002
ASnita
Deed under Hijrah Unit Trust Management Berhad:
30 April 1998
Deed under Libra Invest Berhad: 2 May 2003
First Supplemental Deed: 2 January 2004
ASnitaBOND
Fifth Supplemental Deed: 17 December 2013
33
Libra Invest Berhad
Master Prospectus
34
Avenue for advice available to prospective investors.
Fund Name
Avenue for Advice
Page(s)
You may contact us should you have any doubts about the information in this Master
Prospectus or would like to know more about investing in any of the Funds, please
call Libra Investor Care at (603) 2089 1883 or you may e-mail us at
invest@ecmlibra.com
152
IncomeEXTRA
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
There are fees and charges involved and investors are advised to consider them before investing in the
Funds.
Unit prices and distributions payable, if any, may go down as well as up.
For information concerning certain risk factors which should be considered by prospective investors, see
RISK FACTORS commencing on page 35.
Past performance of the Funds is not an indication of future performance. Investors who intend to finance
an investment in a Shariah-compliant fund, or for that matter any Shariah-compliant investment, are
advised to seek for Islamic financing to finance their investment.
Libra Invest Berhad
Master Prospectus
35
5. RISK FACTORS
The risk management team works in tandem with the investment team to ensure the level of risk is suitable to the
Funds‟ overall performance targets. The Funds are constructed and managed within the pre-set investment
guidelines i.e. the risk budgets. The risk mitigation strategies adopted by the Manager includes diversification, due
diligence, reviews and hedging.
The Funds may experience any combination of the risks listed below depending on the types of securities in which
the Fund invests.
Generally, the specific risks of a fund that invests primarily in equities are market risk, specific risk and liquidity risk,
whilst the specific risks of a fund that invests primarily in fixed income are interest rate risk, credit/default risk,
inflation/purchasing power risk and liquidity risk. Risk specific to LLF is financial institution risk.
With respect to interest rate risk, it should be noted that interest rate is a general economic indicator that will have
an impact on the management of Funds regardless of whether it is a Shariah-compliant fund or otherwise. This
does not in any way suggest that SyariahEXTRA, ASnita and ASnitaBOND will invest in conventional financial
instruments. All investments carried out for SyariahEXTRA, ASnita and ASnitaBOND are in accordance with the
Shariah requirements.
The Funds that invest in foreign markets may also be exposed to currency risk and country risk.
General risks:

Risk of Non-Compliance
The Fund‟s objective may be affected should the Management Company and the fund managers not adhere to the
Funds investment mandate. To maintain the Fund‟s integrity, sufficient internal policies, controls and monitoring
must be in place to protect the interests of Unit Holders. In this instance, the compliance unit of the Management
Company would oversee the operations of the Fund to reduce and minimise instances of non-compliance with
internal policies and the relevant laws, regulations and guidelines.

Fund Manager Risk
The performance of the Fund depends on the experience, knowledge and expertise of the fund manager and the
investment strategies adopted. The risk remains that the securities which the fund manager selected will not
perform as expected. This could cause the Fund‟s returns to lag behind similar funds‟ returns.

Returns Not Guaranteed
As a result of the risk elements described herein, the returns from the Fund are not guaranteed. Investment returns
and the principal value will vary. When sold, an investment may be worth more or less than when purchased.

Loan Financing Risk
Investors must be aware of the inherent risk involved with loan financing of the Fund, which would include the ability
to pay instalments, which may be affected by unforeseen circumstances such as an increase in interest rate and
the ability to provide additional collateral should the value of investment fall below a certain level.

Political Risk
The investments of the Fund may be adversely affected by political instability as well as exchange controls,
changes in taxation, foreign investment policies, restriction on repatriation of investments and other restrictions and
controls which may be imposed by the relevant authorities in the relevant countries. The Manager shall implement a
stringent screening process in respect of the country and region prior to investing to assess the impact of such risk
to the performance of the investments.

Regulatory Risk
Any changes in national or economic policies or regulations may have an adverse effect on the capital markets and
could sequentially have an impact on the investments of the Fund. To mitigate the impact of regulatory risk, the
Manager will seek to keep abreast of regulatory developments that may affect specific investments of the Fund
while attempting to pre-empt any regulatory changes that may adversely impact the investments of the Fund.
Libra Invest Berhad
Master Prospectus
36
Specific Risks in Equity Funds:

Market Risk
This is a class of risk that inherently exists in an economy and cannot be avoided by any business or company. It is
usually due to changes in the economic outlook and affects the confidence of the broad market. Market risk cannot
be removed from an investment portfolio by diversification. Investors should, therefore, note that the performance of
the Fund might go up or down in accordance with market movement.

Specific Risk
This class of risk represents the risk unique to a particular company due to company-specific factors such as capital
structure, quality of management, nature of business, and others. This risk may be greatly reduced through
diversification. The fund manager‟s expertise will also help to reduce exposure to specific risk through proper
research prior to sector and stock selection, and by adopting defensive stock selection strategies at appropriate
times.
 Liquidity Risk
In a weak and thinly traded market where the transaction volume is low, the investments in the Fund may not be
liquidated in the desired amounts without causing the market price of the securities to fall sharply. The fund
manager aims to reduce liquidity risk by investing mainly in companies with large market capitalisation of not less
than RM200 million, and are fairly liquid.

Currency Risk
The Funds that invest abroad are subject to currency risk as some of their investments will be denominated in
foreign currencies. The value of these Funds as expressed in RM will fluctuate in tandem with the changes in the
exchange rate between the RM and other currencies. This risk can be mitigated by investing in a portfolio of assets
with diverse foreign currencies to avoid over-concentration in a single foreign currency. The Fund may also seek to
reduce this risk by hedging the currency exposure.

Country Risk
The Fund‟s exposure in foreign investments may be affected by risks specific to the country which it invests in.
Such risks may include changes in the general political and economic conditions, government policies, tax regime
and currency fluctuations. These changes can adversely affect operating profit as well as the value of the assets
that the Fund has invested in. Diversifying the Fund‟s exposure into various foreign markets will mitigate the country
risk of the portfolio.

Reclassification of Shariah Status Risk
This risk refers to the currently held Shariah-compliant securities in the portfolio of Shariah-compliant Funds that
may be reclassified to be Shariah non-compliant upon review of the securities by SACSC performed twice yearly. If
this occurs, the fund manager will take the necessary steps to dispose of such securities.

Sectorial Risk
This is a risk that is associated with a downturn in demand for goods and services offered by a particular sector in
which the Fund invests in. Typically, this is linked to adverse economic conditions.

Credit/Default Risk
Credit risk arises when there is a possibility that an issuer is unable to pay interest/profit due and/or the principal on
time. The fund manager expects to be able to reduce credit risk substantially by conducting thorough credit analysis
before investment, by investing mainly in issues with at least a P3 by RAM or equivalent rating by other rating
agencies for short term papers and BBB by RAM or equivalent rating by other rating agencies for long term
bonds/sukuk and by diversifying the portfolio.
Investors are to note that some of the equity funds are permitted to invest in bonds/sukuk and also placement of
cash with financial institutions for diversification purposes. The credit rating of the bond/sukuk issuers and the
financial institutions may be downgraded by the rating agencies due to credit default. As a result, it may affect the
performance of the Funds.
Libra Invest Berhad
Master Prospectus

37
Derivatives Risk
The Fund may use derivative instruments as part of its investment strategy. Derivative instruments are financial
contracts whose value depends on, or are derived from, the value of an underlying asset, reference rate or index.
The derivative instruments may include futures, options, warrant and swaps and the underlying assets, rates and
indices may include bonds/sukuk, stocks, interest rates, currency exchanges rates, and bond/sukuk, stock and
commodity indices. These derivatives allow for the use of leverage which may increase the volatility in the NAV and
the NAV per Unit of the Fund, if the market goes against the position of the derivatives.
The Management Company may use derivatives such as options and futures for hedging existing positions, efficient
portfolio management and/or to meet the investment objectives of the Fund.
There are various risks associated with derivatives use. The process by which the Management Company
assesses, monitors and controls some of the more important types of risk such as market risk, liquidity risk and
currency risk which have a direct influence on the Fund‟s NAV are mentioned in this section. The Manager will
ensure that the exposure to derivative instruments will NOT at any time exceed 100% of the Fund‟s NAV at all
times. The Fund‟s investments in derivatives (if any) shall always be subject to the restrictions stipulated under the
sub-heading, investment spread limits; sub-paragraph of investment restriction on derivatives.
The types of derivatives that may be used by the Management Company will include those traded on an exchange
such as Bursa Malaysia and those exchanges approved by the relevant regulatory authority. For Shariah-compliant
Funds, such derivatives must comply with Shariah.

Counterparty Risk
There is a risk that a financial institution may default on its repayment/payment obligations with regard to
repurchase agreements and other contracts, or derivative investments made by the Fund. The Management
Company aims to mitigate this risk by performing fundamental credit research and analysis to determine the
creditworthiness of its counterparty, and thereby impose careful credit limit as a precautionary step to limit any loss
that may arise directly or indirectly as a result of the defaulted transaction. Any default by the counterparty would
affect the NAV of the Fund. In mitigating this risk, the Management Company will invest in the instrument via
counterparties such as banks or financial institutions with a high credit rating, at least „A‟ by Standard & Poor‟s or its
equivalent by any other reputable domestic or global rating agency. Thereafter, the Management Company will
constantly monitor the credit rating of the counterparty. If the rating of the counterparty falls below the minimum
requirements, the Management Company may look to sell/redeem the instrument, or replace with another
instrument with a similar underlying asset or objective.
Specific Risks in Fixed Income/Sukuk Funds:

Market Risk
This is a class of risk that inherently exists in an economy and cannot be avoided by any business or company. It is
usually due to changes in the economic outlook and affects the confidence of the broad market. Market risk cannot
be removed from an investment portfolio by diversification. Investors should, therefore, note that the performance of
the Fund might go up or down in accordance with market movement.

Credit/Default Risk
Credit risk arises when there is a possibility that an issuer is unable to pay interest/profit due and/or the principal on
time. The fund manager expects to be able to reduce credit risk substantially by conducting thorough credit analysis
before investment, by investing mainly in issues with at least a P3 by RAM or equivalent rating by other rating
agencies for short-term papers and BBB by RAM or equivalent rating by other rating agencies for long-term
bonds/sukuk and by diversifying the portfolio.

Interest Rate Risk
This risk relates to unforeseen movements in the direction of interest rates. Anticipating interest rate movements is
a critical element in determining the portfolio maturity structure of the Fund. The fund manager‟s top-down
investment approach ensures that a thorough evaluation of macro-economic variables is undertaken before an
interest rate strategy is implemented. In addition, it is also intended to have a sufficiently diverse range of maturities
of fixed income instruments that the Fund invests in.
The above interest rate is a general indicator that will have an impact on the management of the fund regardless
whether it is a Shariah-compliant unit trust fund or otherwise. It does not in any way suggest that the fund will invest
in conventional financial instruments. All the investments carried out for the fund are in accordance with Shariah
requirements.
Libra Invest Berhad
Master Prospectus
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38
Liquidity Risk
Liquidity risk is defined as the ease with which a security can be sold at or near its fair value depending on the
volume traded on the market. Should a security become illiquid, it may be sold at a discount to its fair value, thus
lowering that value of the Fund‟s investments and subsequently the value of Unit Holders‟ investments. To minimise
liquidity risk, the Fund maintains sufficient level of liquid assets to meet anticipated payments and liquidation of
units by Unit Holders.

Inflation/Purchasing Power Risk
Inflation reduces the purchasing power of money. In an inflationary environment, fixed income securities/sukuk are
exposed to higher inflation risk than inflation-linked securities. By investing mainly in short-term issues, the interest
rate structure of the portfolio can be adjusted quickly in response to any perceived significant change in the inflation
rate.

Derivatives Risk
The Fund may enter into derivative instruments, which are financial contracts whose value depends on, or is
derived from, the value of an underlying asset, reference rate or index. The derivative instruments may include
futures, options, warrant and swaps and the underlying assets, rates and indices may include bonds/sukuk, stocks,
interest rates, currency exchanges rates, and bond/sukuk, stock and commodity indices. These derivatives allow for
the use of leverage which may increase the volatility in the NAV and the NAV per Unit of the Fund, if the market
goes against the position of the derivatives.
The Management Company may use derivatives such as options and futures for hedging existing positions, efficient
portfolio management and/ or to meet the investment objectives of the Fund.
There are various risks associated with derivatives use. The process by which the Management Company
assesses, monitors and controls some of the more important types of risk such as market risk, liquidity risk and
currency risk which have a direct influence on the Fund‟s NAV are mentioned in this section. The Manager will
ensure that the exposure to derivative instruments will NOT at any time exceed 100% of the Fund‟s NAV at all
times. The Fund‟s investments in derivatives (if any) shall always be subject to the restrictions stipulated under the
sub-heading, investment spread limits; sub-paragraph of investment restriction on derivatives.
The use of non-exchange traded or OTC derivatives involve counterparty risks arising from counterparty default or
a decline in the latter‟s credit rating.
The types of derivatives may be used by the Management Company will include those traded on an exchange such
as Bursa Malaysia and those exchanges approved by the relevant regulatory authority. For Shariah-compliant
Funds, such derivatives must comply with Shariah.
Specific Risks in Money Market Funds:

Financial Institution Risk
Financial Institution risk occurs when a licensed financial institution which the Fund placed its deposits with, defaults
on its obligations to pay back the deposits and interests/profits on demand. To mitigate financial institution risks, the
Fund will diversify its placement of deposits with different financial institutions regulated by BNM.
It is important to note that events affecting the investments cannot always be foreseen. Therefore, it is not
always possible to protect investments against all risks. Different investment instruments generally exhibit
different levels of risk. Please note that the returns of the Funds are not guaranteed.
The investment of the Funds carries risk and investors are recommended to read the whole Master
Prospectus to assess the risk of the Fund.
Investors are reminded that the above list of risks may not be exhaustive and if necessary, they should
consult their adviser(s), e.g. their bankers, lawyers, stockbrokers or independent financial advisers for a
better understanding of the risks.
Libra Invest Berhad
Master Prospectus
39
6. DETAILED INFORMATION OF THE FUNDS
IncomeEXTRA Fund is an open-ended unit trust fund, investing in fixed income securities (including money market
instruments) and equities.
INVESTMENT OBJECTIVE
The principal objective of the Fund is to provide income* and capital appreciation over a medium to long term
investment horizon by investing in a balanced portfolio of fixed income instruments and equities.
Any material changes to the investment objective of the Fund would require Unit Holders‟ approval.
distribution policy at page 119 of this Master Prospectus for full details.
INVESTMENT STRATEGY
The Fund will invest primarily in income-generating securities from both fixed income and equity asset classes. The
Fund will be anchored by a relatively stable portfolio of fixed income securities which would be held for their regular
income yield. Concurrently, the Fund will also invest in equities that offer high dividend yields. Growth will be the
secondary objective of the Fund, which the Manager expects to derive from the gradual capital appreciation of the
high-dividend yielding stocks, as well as from selected picks of fundamentally undervalued stocks.
ASSET ALLOCATION
The Fund will invest 40% to 60% in equities, 40% to 60% of the Fund will be invested in fixed income securities
(including money market instruments and liquid assets). Liquid assets will be maintained at all times at a minimum
of 2% of the Fund‟s NAV.
RISK MANAGEMENT STRATEGIES
Please refer to pages 35-38 for detailed explanation of risk management strategies employed by the fund manager.
TEMPORARY DEFENSIVE POSITIONS
During adverse equity market conditions, the Fund may hold a significantly lower amount of equities than the
prescribed minimum of 40% and invest instead in liquid and defensive assets (including fixed income securities with
different maturity dates).
PERFORMANCE BENCHMARK
The composite benchmark consists of 50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months fixed
deposit rate. (Source : www.bloomberg.com)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute
returns. This means that the Fund is focused on achieving a positive return, even in a downtrend market rather than
beating the benchmark. However, as require by the Guidelines, composite benchmark comprising indices for the
two major assets classes (equity and fixed income securities) is used to provide investors with a reference point for
their investments.
Over the long-term, equity asset allocation would range between 40% – 60% of the Fund‟s NAV, and fixed income
securities and cash would range between 40% – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
the Fund‟s NAV in fixed income securities and cash.
By definition, absolute returns are the static measure of the actual return an asset achieves over a period of time.
The Fund seeks to deliver positive returns independent of how the fixed income securities, cash and equity market
perform. The fund manager focuses on achieving positive returns, even in a downtrend market, rather than beating
the benchmark.
Libra Invest Berhad
Master Prospectus
40
PERMITTED INVESTMENTS
Unless otherwise prohibited by the relevant authorities or any relevant law and provided always that there are no
inconsistencies with the objective of the Fund, the Fund is permitted under the Deed to invest in the following:




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


Securities traded on the Bursa Malaysia or any other market considered as an Eligible Market;
Securities not listed in or traded under the rules of an Eligible Market (“Unlisted Securities”);
Securities or instruments listed or traded on foreign markets where the regulatory authority is a member of the
International Organization of Securities Commissions (IOSCO);
Fixed income securities;
Money market instruments;
Collective Investment Schemes;
Derivatives for hedging purposes only;
Liquid assets; and
Any other kind of investments as permitted by the relevant authorities from time to time.
INVESTMENT RESTRICTIONS
The investment limits or restrictions for IncomeEXTRA shall be as follows, or any other limits as may be prescribed
by the SC from time to time:
Exposure Limit:
 The value of the Fund‟s investments in unlisted securities must not exceed 10% of the Fund‟s NAV.
 The above exposure limit of unlisted securities does not apply to “unlisted securities” that are:
(a) Equities not listed or quoted on a stock exchange but have been approved by the relevant regulatory
authority for such listing and quotation, and are offered directly to the Fund by the issuer; and
(b) Debentures traded on an organized OTC market.
Investment Spread Limits:
 The value of the Fund‟s investments in ordinary shares issued by any single issuer must not exceed 10% of the
Fund‟s NAV;
 The value of the Fund‟s investments in transferable securities and money market instruments issued by any
single issuer must not exceed 15% of the Fund‟s NAV;
 The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV;

For investments in derivatives:
(a) the exposure to the underlying assets must not exceed 10% of the Fund‟s NAV;
(b) the value of the Fund‟s OTC derivative transaction with any single counter-party must not exceed 10% of
the Fund‟s NAV; and
(c) the Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times.
 The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits,
and OTC derivatives issued by or placed with (as the case may be) any single issuer/financial institution must
not exceed 25% of the Fund‟s NAV.
 The value of the Fund‟s investments in units/shares of any collective investment scheme must not exceed 20%
of the Fund‟s NAV; and
 The value of the Fund‟s investments in transferable securities and money markets instruments issued by any
group of companies must not exceed 20% of the Fund‟s NAV.
Investment Concentration Limits:

The Fund‟s investments in transferable securities (other than debentures) must not exceed 10% of the
securities issued by single issuer;

The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer.

The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any
single issuer. However, the limit does not apply to money market instruments that do not have a predetermined issue size; and

The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
collective investment scheme.
Libra Invest Berhad
Master Prospectus
INVESTMENT ABROAD
The Fund may invest in the following foreign markets: Hong Kong, Singapore, Indonesia, Thailand, Philippines,
Taiwan and Korea.
Details of the policy on the application of the investment restrictions are set out on page 74.
41
Libra Invest Berhad
Master Prospectus
42
EquityEXTRA Fund is an open-ended unit trust fund with a medium to long-term investment horizon, which invests
primarily in equity and equity-related securities.
The primary objective of the Fund is to maximize capital returns over a medium to long-term period by investing in
an actively-managed, diversified portfolio of equity and equity-related securities.
INVESTMENT STRATEGY
The fund manager for EquityEXTRA shall generally adopt an active investment strategy which emphasises on
appropriate asset allocation, for different market conditions to enhance risk-adjusted returns through riding market
cycles, situational opportunities, value emergence and trend reversal plays and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of stocks that the fund manager believes should
perform well under an anticipated economic condition. Individual stock selection will then focus on well-managed,
financially sound companies with attractive relative valuations and potential for high earnings growth over the
medium to long-term time frame. The analysis includes ratio analysis on the financial performance of companies,
trend analysis to forecast future performance, and stock valuation methods. Occasionally, when market trading is
skewed towards index-linked large capitalized stocks, the Fund will attempt to track the performance of the FBM100
by adjusting its portfolio composition accordingly.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities. Liquid assets will be
maintained at all times at a minimum of 2% of the Fund‟s NAV.
During adverse market conditions, or when the fund manager anticipates a downturn in market conditions, the Fund
may hold significantly higher amount of liquid and defensive assets (including fixed income securities with different
maturity dates) than that prescribed by their respective mandates. The fund manager would be expected to re-align
the Fund with the principal strategies when market conditions turn for the better.
The benchmark of the Fund is FBM100. (Source : Lipper )
 Ordinary shares and other equity-related securities such as convertible securities, preference shares, warrants
listed on Bursa Malaysia or other public exchanges in Malaysia;
 Liquid assets, unlisted fixed income securities and commercial papers traded in money market;
 Futures contracts traded in futures market, for hedging purposes only;
 The securities that the Fund would deem appropriate for investment should, in general, be issued by
companies that exhibit good management track record whereby in addition to strong corporate governance,
management is transparent and look after minority interest, a sound history of long term profitability and
earning resilience, a strong balance sheet which indicates that balance sheet is not „over geared‟ * when
compared to peers in the respective industry (since each industry is slightly different), and have a good
competitive position whereby the company should be among the top 5 companies in their respective industry,
in terms of market share; and
 Any other kind of investment or investments as permitted by the relevant authorities from time to time.
Note:
*The term not „over geared‟ is defined as net gearing ratio {(total debt-cash)/ total equity} of the company should not be
more than 2 times.
Libra Invest Berhad
Master Prospectus
43
The investment limits/restrictions for EquityEXTRA shall be as follows, or any other limits as may be prescribed by
the SC from time to time:
Exposure Limit:
 The value of the Fund‟s investments in unlisted bonds and fixed income securities as well as commercial
papers traded in the money market must not exceed 50% of the Fund‟s NAV.
Fund‟s NAV;
Fund‟s NAV;
 The Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times;
 For investments in derivatives, the exposure to the underlying assets of that derivative must not exceed the
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivative transaction
with any single counter-party must not exceed 10% of the Fund‟s NAV;
 The value of the Fund‟s investments in structured products issued by a single counter-party must not exceed
15% of the Fund‟s NAV;
OTC derivatives and structured products issued by or placed with (as the case may be) any single issuer/
financial institution must not exceed 25% of the Fund‟s NAV;
 The Fund‟s investments in transferable securities (other than debentures) must not exceed 10% of the
securities issued by any single issuer;
 The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer;
 The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any
 The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
Libra Invest Berhad
Master Prospectus
44
BondEXTRA Fund is an open-ended unit trust fund, investing primarily in high yield, long term fixed income
securities. Its key performance is entirely in search of consistent absolute returns over the long-term investment
horizon. The Fund expects to maintain a weighted average portfolio maturity appropriate to its stated investment
objective. Under normal circumstances, the weighted average term to maturity of investments is expected to be
approximately 4 to 8 years.
The primary objective of the Fund is to provide investors with aggressive long-term capital growth through
investment in high yielding fixed income securities with a relatively high level of market and financial risks.
INVESTMENT STRATEGY
Before constructing the portfolio of a particular fund, the fund manager will analyse the macro environment to
enhance risk-adjusted returns by identifying market cycles, situational opportunities, value emergence, trend
reversal plays and asset class rotation.
With respect to fixed income instruments, the fund manager will focus on consistent, above-average returns from
fundamental research rather than from frequent trading. Emphasis is placed on credit-worthiness, investment-grade
issuers of debt. A disciplined application of the „top-down‟ investment process is therefore applied, with due
consideration given to the credit standing of individual issuers. The fund manager will seek to diversify the
investments of the Fund across sectors and individual securities in order to minimize the risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in fixed income instruments with a minimum credit rating of P3 or
BBB3 by RAM or equivalent rating by other rating agencies. Liquid assets will be maintained at all times at a
minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Maybank 12-months fixed deposit rate. (Source: Lipper)
Investment in the Fund is not the same as placement in a deposit with a financial institution. The capital and returns
of the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not reflect that
of a fixed deposit.

Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.
Such instruments include Malaysian government securities, treasury bills and Bank Negara bills;

Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;

Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
Libra Invest Berhad
Master Prospectus

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45
Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or
MARC. The credit rating of an issue may also be enhanced through bank guarantees or corporate guarantees;
Futures contracts traded in futures market, for hedging purposes only; and
Any other kind of investment or investments as permitted by the relevant authorities from time to time.
The investment limits/restrictions for BondEXTRA are as follows, or any other limits as may prescribed by the SC
from time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are debentures traded
on an organized OTC market.
 The value of the Fund‟s investments in debentures issued by any single issuer must not exceed 20% of the
Fund‟s NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the debentures are rated by
any domestic or global rating agency to be of the best quality and offer highest safety for timely payment of
interest and principal;
 The value of the Fund‟s investments in debentures issued by any one group of companies must not exceed
Fund‟s NAV;
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivatives transaction
OTC derivatives and structured products issued by or placed with (as the case may be) any single
issuer/financial institution must not exceed 25% of the Fund‟s NAV. However, the aggregate value of the
Fund‟s investment must not exceed 30% of the Fund‟s NAV where the single issuer limit is increased to 30% of
the Fund‟s NAV if the debentures are rated by any domestic or global rating agency to be of the best quality
and offer highest safety for timely payment of interest and principal; and
of the Fund‟s NAV.
 The Fund‟s investment in debentures must not exceed 20% of the debentures issued by any single issuer;
 No maximum limit is imposed if the issuer is the Malaysian Government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions;
single issuer. However, the limit does not apply to money market instruments that do not have a pre-determined
issue size; and
 The Fund‟s investments in collective instruments schemes must not exceed 25% of the units/shares in any one
Additionally,
 BondEXTRA will normally invest at least 50% of its NAV in any one or all of the following:
o Fixed income securities with a minimum investment grade of P3 by RAM or MARC-3 by MARC for shortterm issues and BBB by RAM or equivalent rating by other rating agencies for long term issues;
o Securities issued by the Malaysian Government, BNM, banks or other licensed financial institutions;
o Issues guaranteed by the Malaysian Government, BNM, banks or other licensed financial institutions; and
o Deposits with banks or other licensed financial institutions.
If a rated corporate issue is downgraded to below the minimum credit rating of local short-term rating of P3 by RAM
or MARC-3 by MARC, or local long-term rating of BBB by RAM or equivalent rating by other rating agencies, and it
causes the investment limit to be breached, the fund manager would use their best efforts to dispose the holdings
before maturity, failing which, it shall be held to maturity.
Libra Invest Berhad
Master Prospectus
46
MoneyEXTRA Fund is an open-ended unit trust fund investing primarily in very short-term, highly liquid, near cash,
money market instruments and partially in fixed income securities. The Fund expects to maintain a weighted
average portfolio maturity appropriate to its stated investment objective. Under normal circumstances, the weighted
average term to maturity of the investments is expected to be approximately 1 to 24 months.
The primary objective of the Fund is to maintain a high degree of liquidity while providing current income through a
direct investment portfolio investing in short-term, high quality Ringgit-denominated money market instruments.
INVESTMENT STRATEGY
With respect to fixed income instruments, the fund manager will focus on consistent, above-average returns from
fundamental research rather than from frequent trading. Emphasis is placed on credit-worthiness, investment-grade
issuers of debt. A disciplined application of the „top-down‟ investment process is therefore applied, with due
consideration given to the credit standing of individual issuers. The fund manager will seek to diversify the
investments of the Fund across sectors and individual securities in order to minimize the risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in cash, deposits and other liquid assets. Other liquid assets
include, but are not limited to, securities issued by the government or quasi-government bodies, including but not
limited to Khazanah, Cagamas, Danaharta, Danamodal and BNM, securities guaranteed by the government and
private debt securities which have been accorded a rating of P1 by RAM or its equivalent rating by other rating
agencies.
Up to 30% of the Fund‟s NAV will be invested in money market instruments, bonds with a minimum credit rating of
A3 by RAM or its equivalent by other rating agencies and commercial papers with a credit rating of P2 by RAM or
its equivalent rating by other rating agencies.
Liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Average Repurchase Agreement (Repo) rates on the short-term money market
instruments/deposits offered to the Fund. (Source: Lipper)
A Repo is a transaction wherein money market instruments are sold at a particular price by one party (seller) to the
other (buyer) with a commitment on the seller‟s part to repurchase the equivalent securities from the buyer on a
certain date and at a certain price, both such date and price being fixed as part of the same transaction.
Libra Invest Berhad
Master Prospectus
47

Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.

Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;

Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;

Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or

Futures contracts traded in futures market, for hedging purposes only; and

Any other kind of investment or investments as permitted by the relevant authorities from time to time.
The investment limits/restrictions for MoneyEXTRA shall be as follows, or any other limits as may prescribe by the
SC from time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are debentures traded
on an organized OTC market.

The value of the Fund‟s investments in debentures issued by any single issuer must not exceed 20% of the
Fund‟s NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the debentures are rated by
any domestic or global rating agency to be of the best quality and offer highest safety for timely payment of
interest and principal;

The value of the Fund‟s investments in debentures issued by any one group of companies must not exceed

The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV;

The Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times;

For investments in derivatives, the exposure to the underlying assets of that derivatives must not exceed the
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC derivatives transaction

The value of the Fund‟s investments in structured products issued by a single counter-party must not exceed

The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits,
issuer/financial institution must not exceed 25% of the Fund‟s NAV. However, the aggregate value of the
Fund‟s investment must not exceed 30% of the Fund‟s NAV where the single issuer limit is increased to 30% of
the Fund‟s NAV if the debentures are rated by any domestic or global rating agency to be of the best quality
and offer highest safety for timely payment of interest and principal; and

The value of the Fund‟s investments in units/shares of any collective investment scheme must not exceed 20%
If a private debt security is downgraded to below the minimum credit rating of P2 or A3 by RAM or equivalent rating
by other rating agencies, the fund manager will assess the downgraded credit to determine the viability of the
security‟s issuer. A decision is then made on whether to dispose of the security or to hold it until maturity.
For a defaulted private debt security, meetings are held with the security‟s issuer, trustees and other holders of the
defaulted security to discuss restructuring and/or repayment plans with a view towards recovery and settlement of
the security.
Libra Invest Berhad
Master Prospectus
48

The Fund‟s investment in debentures must not exceed 20% of the debentures issued by any single issuer;

No maximum limit is imposed if the issuer is the Malaysian government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions;

The Fund‟s investments in money market instruments must not exceed 10% of the instruments issued by any

The Fund‟s investments in collective investment schemes must not exceed 25% of the units/shares in any one
Libra Invest Berhad
Master Prospectus
49
VersatileEXTRA Fund is an open-ended unit trust fund, investing in a blend of quoted securities, bonds and other
money market instruments and financial derivatives (financial instruments that have no intrinsic value but derive
their value from an underlying instrument such as interest rates, indices and share prices). The financial derivatives
are used to manage one‟s exposure to unexpected price fluctuations in the equity and bond markets. Examples of
financial derivatives are FBM100 futures, FBM100 options and Malaysian Government Securities futures.
VersatileEXTRA will invest principally in a balanced portfolio consisting of equities, equity-related securities and
fixed income securities. Its key performance is entirely in search of consistent absolute returns over the medium to
long-term investment horizon. VersatileEXTRA is a Malaysian-focus Fund but for tactical call, the Fund may invest
up to 30% of its NAV offshore.
The primary objective of the Fund is to provide investors medium to long-term capital appreciation through its
investments in specified asset classes by adopting a relatively balanced approach towards equity and fixed income
exposure. The Fund aims to achieve capital growth with lower and short-term volatility than is normally associated
with a pure equity fund.
INVESTMENT STRATEGY
The fund manager for VersatileEXTRA shall generally adopt an active investment strategy which emphasizes on
trend analysis to forecast future performance and stock valuation methods. Occasionally, when market trading is
ASSET ALLOCATION
The Fund will invest between 40% to 60% of its NAV in quoted equity and equity-related securities. The Fund will
also invest between 40% to 60% of its NAV in fixed income securities with a minimum credit rating of P3 or BBB3
by RAM or equivalent rating by other rating agencies and liquid assets. Liquid assets will be maintained at all times
at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM100 and 50% of the Maybank
12-months fixed deposit rate. (Source: Lipper)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute (i.e.
positive) returns. This means that the Fund is focused on achieving a positive return, even in a downtrend market
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark comprising
indices for the two major assets classes (equity and fixed income) is used to provide investors with a reference
point for their investments.
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Over the long-term, equity asset allocation would range between 40 – 60% of the Fund‟s NAV, and fixed income
securities and cash would range between 40 – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
The Fund seeks to deliver positive returns independent of how the fixed income, cash and equity market perform.
The fund manager focuses on achieving positive returns, even in a downtrend market, rather than beating the
benchmark.
 Securities of Malaysian companies listed on a recognised stock exchange;
 Securities listed on Foreign Stock Exchanges which have been permitted by the relevant authorities from time
to time;
 Fixed income securities issued by the Malaysian government or BNM or any other government related bodies.
 Issues guaranteed by the government of Malaysia or BNM or any state government in Malaysia;
 Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
 Private debt securities. These issues are usually approved by BNM and/or the SC, and/or are rated by RAM or
 Futures contracts traded in futures market, for hedging purposes only; and
The investment limits/restrictions for VersatileEXTRA Fund shall be as follows, or any other limits as may be
prescribed by the SC from time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are equities not listed
or quoted on a stock exchange but have been approved by the relevant regulatory authority for such listing and
quotation, and are offered directly to the Fund by the issuer and debentures traded on an organized OTC
market.
Fund‟s NAV;
Fund‟s NAV;

The value of the Fund‟s investments in transferable securities and money market instruments issued by any
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Investment Concentration Limits
INVESTMENT ABROAD
The Fund may invest up to 30% of its NAV in equity and equity-related securities listed in the following foreign
markets:
 The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited in Hong Kong;
 The Stock Exchange of Thailand in Thailand; and
 The Singapore Exchange Limited (SGX) in Singapore.
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DividendEXTRA Fund is an open-ended unit trust fund with a medium to long-term investment horizon, which
invests principally in high dividend yield stocks. DividendEXTRA Fund is a Malaysian focus fund but for tactical call,
the Fund may invest up to 30% of its NAV offshore.
The Fund seeks to achieve relatively stable returns via income and capital appreciation over the medium to longterm by investing principally in high dividend yield stocks.
INVESTMENT STRATEGY
The fund manager for DividendEXTRA shall generally adopt an active investment strategy which emphasises on
trend analysis to forecast future performance, and stock valuation methods. Occasionally, when market trading is
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities. Liquid assets will be
The benchmark of the Fund is the FBM100. (Source: Lipper)

Listed ordinary shares and other equity-related securities such as convertible securities, preference shares,
warrants, liquid assets and fixed income securities traded in money market;

Futures contracts traded in futures markets of an exchange approved under the Act, for hedging purposes
only;

The securities that the Fund would deem appropriate for investment should, in general, be issued by well
managed companies where dividends are expected to be maintained or grow, with potential growth of the
companies and the industry, and exhibit good management track record;and

Other kinds of investments in Malaysia and outside Malaysia as agreed by the Management Company and
Trustee, and permitted by the relevant authorities from time to time.
The securities that DividendEXTRA would deem appropriate for investment should, in general, be issued by well
managed companies where dividends are expected to be maintained or grow; with potential growth of the
companies and the industry, and exhibit good management track record.
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The investment restrictions for DividendEXTRA are as follows, or any other limits as may be prescribed by the SC
from time to time:
Exposure Limit:
quotation, and are offered directly to the Fund by the issuer.
Fund‟s NAV;
Fund‟s NAV;
issuer/financial institution must not exceed 25% of the Fund‟s NAV;
INVESTMENT ABROAD
The Fund may invest up to 30% of its NAV in equity and equity-related securities listed in the following foreign
markets:
 The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited in Hong Kong;
 The Stock Exchange of Thailand in Thailand; and
 The Singapore Exchange Limited (SGX) in Singapore.
Libra Invest Berhad
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TacticalEXTRA Fund is an open-ended unit trust fund investing in quoted equities of companies primarily with large
market capitalisation (big caps), bonds and other money market instruments according to the market outlook and
economic conditions. TacticalEXTRA will invest primarily in a portfolio of equities comprising of large-cap
companies in search for returns against the backdrop of a bullish market. During market uncertainty,
TacticalEXTRA shall adopt a defensive approach towards fixed income exposure to provide capital preservation or
to invest tactically. Its key performance is entirely in search of absolute returns over the medium to long-term
investment horizon.
The Fund aims to provide investors with medium to long-term capital appreciation by investing principally in liquid
equities with large market capitalization (big caps), and fixed income instruments with flexible asset allocation.
INVESTMENT STRATEGY
The fund manager for TacticalEXTRA shall generally adopt an active investment strategy which emphasizes on
trend analysis to forecast future performance and stock valuation methods. Occasionally, when market trading is
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in quoted equity and equity-related securities. A maximum of
30% of the Fund‟s NAV will be invested in fixed income securities with a minimum credit rating of P3 or BBB3 by
RAM or equivalent rating by other rating agencies. Liquid assets will be maintained at all times at a minimum of 5%
may hold up to 100% in cash. The fund manager would be expected to re-align the Fund with the principal
strategies when market conditions turn for the better.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM100 and 50% of the Maybank
12-months fixed deposit rate. (Source: Lipper)
The Fund has a flexible asset allocation between equities and fixed income securities with a bias for absolute (i.e.
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark comprising
indices for the two major asset classes (equity and fixed income) is used to provide investors with a reference point
for their investments.
Over the long-term, equity asset allocation would range between 30%-70% of the Fund‟s NAV and fixed income
and cash would range between 30%-70% of the Fund‟s NAV. Therefore, the composite benchmark is a reflection of
the Fund‟s average asset allocation over the long-term of 50% of the Fund‟s NAV in equity and 50% of the Fund‟s
NAV in fixed income and cash.
Libra Invest Berhad
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benchmark. However, as required by the Guidelines, composite benchmark comprising indices for the two major
asset classes (equity and fixed income) is used to provide investors with a reference point for their investments.
inconsistencies with the objective of the Fund, the Fund is permitted by the Deed to invest in the following:
 Securities of Malaysian companies listed on the recognised stock exchange;
 Issues by banks or financial institutions such as banker‟s acceptances and negotiable certificates of deposit;
 Futures contracts traded in futures market, for hedging purposes only; and
The investment limits/restrictions for TacticalEXTRA Fund shall be as follows, or any other limits as may be
prescribed by the SC from time to time:
Exposure Limit:
Fund‟s NAV;
Fund‟s NAV;
Libra Invest Berhad
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Libra Invest Berhad
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LCLAF is an open-ended regional unit trust fund, which seeks to offer investors a wider investment universe of
quality growth stocks by investing primarily in those that offer exposure to the consumer and leisure sector in Asia.
The Fund will be a proxy to the growth prospects of this burgeoning sector which is expected to be a major
beneficiary of rising disposable income in the region. In turn, investors will earn potentially attractive returns. The
Fund‟s key performance is to search for positive absolute returns over the medium to long-term (3-5 years)
investment horizon.
As one of the world‟s most dynamic economic zones, Asia is seeing a rapid expansion of its middle class population
who, in turn, have increasingly more disposable income to spend. Sectors related to consumer consumption and
leisure are expected to be major beneficiaries of this trend and the Fund will target investments in such sectors
which would include gaming, hotels, airlines, retail outlets, restaurant chains, consumer electronics and other
supporting industries.
The Fund seeks to provide capital appreciation over the medium to long-term by investing in a diversified portfolio
comprising stocks of companies in Asia which are considered to have strong growth prospects and are able to
benefit from the rising wealth effect of the region‟s middle class population.
INVESTMENT STRATEGY
The fund manager will look for the latest trends and themes reflective of the consumer and leisure focus of the
Fund. This would involve analysis of diverse but relevant sectors and sub-sectors ranging from tourism, hotels,
airlines, gaming, general retail, consumer electronics and premium real estate to the more economically inelastic
brewing and tobacco sectors. This list is not exhaustive and the fund manager believes there are ample areas to
invest in within this theme to enable adequate diversification for different market conditions.
The Fund‟s investment universe will primarily comprise companies with a well-established track record, a strong
business franchise, professionally run management and proven business models that give them a good competitive
edge. Many of these companies will have products and services with brand names that are well known in the
region, and in some cases, recognizable worldwide. The quality of these companies should be reflected in their
financial track record, for example, a history of steady sales growth, firm profit margins, sustained profitability and
prudent balance sheet management.
The fund manager will use an appropriate investment valuation framework to invest in only those that the fund
manager believes the stock price has yet to fully reflect the company‟s growth potential or underlying fair value. This
framework will include techniques such as measuring a company‟s prospective price-to-earnings ratio, price-tobook ratio or enterprise value per unit against sector and regional peers, or a discounted cash flow valuation model.
ASSET ALLOCATION
Generally, the Fund will invest at least 70% of it‟s NAV in equity and equity-related securities, while maintaining a
minimum of 50% in non-Malaysian equity (Hong Kong, India, Indonesia, Japan, Korea, Philippines, Singapore,
Taiwan, and Thailand markets). Liquid assets shall be maintained at a minimum of 2% of the Fund‟s NAV and fixed
income securities within Malaysia shall be maintained at a minimum of 10% of the Fund‟s NAV.
Please refer to pages 35-38 for detalied explanation of risk management strategies employed by the fund manager.
In response to adverse economic or market conditions, or when the fund manager anticipates a severe downturn in
the market, the Fund as part of its risk management strategy may increase its cash exposure or hold significantly
high defensive assets, that include short-term fixed income securities. This would mean reducing the equity
allocation to levels below 70%. The Fund may, when deemed appropriate, utilize futures contracts but only for
hedging and risk reduction purposes.
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The benchmark of the Fund is the MSCI AC Asia Consumer Discretionary Index. The Fund aims for absolute
returns. (Source: www.bloomberg.com)
benchmark.
 Securities of Malaysian companies listed on Bursa Malaysia;
 Securities in foreign markets, which markets are permitted by the relevant authorities from time to time;
 Issues by financial institution such as banker‟s acceptances and negotiable certificates of deposit;
 Liquid assets;
 Futures market and options, for hedging purposes only;
 Units or shares in other collective investment schemes; and
 Any other kind of investment as may be agreed upon by the Management Company and Trustee from time to
time, and permitted by the relevant authority.
The investment limits/restrictions for LCLAF shall be as follows, or any other limits as may be prescribed by the SC
from time to time:
Exposure Limit:
Fund‟s NAV;
Fund‟s NAV;
investment spread limits stipulated in the Guidelines and the value of the Fund‟s OTC transaction with any
single counter-party must not exceed 10% of the Fund‟s NAV;
OTC derivatives and structured products issued or placed with (as the case may be) any single issuer/ financial
institution must not exceed 25% of the Fund‟s NAV;
Libra Invest Berhad
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Libra Invest Berhad
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LLF is an open-ended unit trust fund, investing primarily in Ringgit-denominated short-term deposits with licensed
financial institutions.
The Fund seeks to preserve capital and maintain a high degree of liquidity while providing steady income with
minimal risk by investing primarily in short-term deposits.
INVESTMENT STRATEGY
The Fund shall generally adopt an active investment strategy which will invest up to 100% of its NAV in Ringgitdenominated short-term deposits with licensed financial institutions.
ASSET ALLOCATION
The Fund will invest up to 100% of the Fund‟s NAV in Ringgit-denominated short-term deposits.
To mitigate financial institution risks, the Fund will diversify its deposit placements with different financial institutions
regulated by BNM.
No temporary defensive positions will be taken as the Fund will not be investing in any securities or fixed income
instruments.
The benchmark of the Fund is the Maybank Overnight Repurchase Agreement (Repo) rates. (Source: Lipper)
 Liquid assets which consist of RM denominated deposits placed with licensed financial institutions; and
 Any other investments as may be permitted by the relevant authorities from time to time.
The investment limits/restrictions for LLF shall be as follows, or any other limits as may prescribe by the SC from
time to time:
Exposure Limits:
▪
The value of the Fund‟s investments in permitted investments must not be less than 90% of the Fund „s NAV;
▪
The value of the Fund‟s investments in permitted investments which have a remaining maturity period of not
more than 365 days must not be less than 90% of the Fund‟s NAV; and
▪
The value of the Fund‟s investments in permitted investments which have a remaining maturity period of more
than 365 days but fewer than 732 days must not exceed 10% of the Fund‟s NAV.
Libra Invest Berhad
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▪
The value of the Fund‟s placement in deposits with any single financial institution must not exceed 20% of the
Fund‟s NAV.
Investment in the Fund is not the same as placement in a deposit with a financial institution. There are risks
involved and investors should rely on their own evaluation to assess the merits and risks when investing in
the Fund.
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LREF is an open ended global unit trust fund which will invest at least 70% of its NAV in equity and equity-related
securities of companies that are involved in the exploration for and the development, production and marketing
resources products such as energy, minerals, agriculture and related industries globally which are listed on the
stock exchanges of countries listed in the MSCI ACWI (except for the excluded countries mentioned in the
investment strategy of the LREF).
The Fund seeks to achieve capital growth over a medium to long-term period by investing primarily in equity and
equity-related securities traded globally. The Fund may also invest in fixed income securities, structured products
and money market instruments.
INVESTMENT STRATEGY
The Fund aims to achieve its investment objective through a diversified investment portfolio of equity and equityrelated securities which are listed on the stock exchanges of countries listed in the MSCI ACWI (except for the
excluded countries mentioned in the investment strategy of the LREF). The fund will invest at least 70% of its NAV
in exploration for and the development, production and marketing of resources products such as energy, minerals,
agriculture and related industries. The Fund may also invest in other investments depending on the market outlook
and economic conditions.
The Manager will employ a multi-step investment process, combining a bottom-up investment analysis of
companies with top-down macro-analysis asset allocation at country and sector levels. Sector allocation is derived
after analyzing macroeconomic trends and country dynamics. The Manager believes that investment performance
can be achieved by employing a rigorous research process that enables them to identify sound and profitable
companies that generate excess return above the MSCI ACWI, being the benchmark‟s return as well as by
identifying companies that are undervalued.
An active investment strategy which emphasises on appropriate asset allocation, for different market conditions to
enhance risk-adjusted returns through riding market cycles, situational opportunities, value emergence and trend
reversal plays will be adopted.
As of 27 November 2013, the countries within the MSCI ACWI consist of the following:
 Australia
 Austria
 Belgium
 Hong Kong
 Ireland
 Italy




 Canada
 Japan
 Denmark
 Netherlands
 Finland
 France
 Germany
 New Zealand
 Norway
 Portugal



 Greece
 Singapore
 Colombia

Spain
Sweden
Switzerland
the United
Kingdom
United States of
America
Brazil
Chile
China
 Czech Republic
 Egypt
 Hungary
 Peru
 Philippines
 Poland
 India
 Russia
 Indonesia
 South Africa
 Israel
 Korea
 Malaysia
 Taiwan
 Thailand
 Turkey
 Mexico
Source :- www.msci.com
This list of countries may be reviewed by MSCI from time to time.
For the avoidance of doubt, the Manager may invest in all the countries mentioned above except Egypt, Israel,
Turkey, Colombia, Mexico, Peru and Chile.
In addition to equity and equity-related securities, the other type of investments that the Fund may, amongst others,
invest in are fixed income securities and structured products. Structured products are securities that combine the
characteristics of traditional investments (such as stocks and bonds) or non-traditional investments (such as foreign
exchanges) with financial instruments (such as options, futures contracts and swap agreements).
Libra Invest Berhad
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ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in equity and equity-related securities of companies engaged in
the exploration for and the development, production and marketing of resources products such as energy, minerals,
agriculture and related industries globally which are listed on the stock exchange of countries listed in the MSCI
ACWI (except for the excluded countries mentioned above in the investment strategy of the Fund). The Fund may
invest a maximum of 28% of the Fund‟s NAV in fixed income securities and a maximum of 15% of the Fund‟s NAV
in structured products. Cash or liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
An internal allocation for cash and other liquid assets will be maintained to ensure that the Fund is able to meet
repurchase requests without jeopardising the Fund‟s performance. However, this does not preclude the Manager
(after consultation with Trustee) from lowering or raising the liquid assets level beyond the stipulated level to allow
the Manager to react to the prevailing market conditions and to manage investment risk when circumstances
warrants it.
The benchmark of the Fund is MSCI ACWI.
Unit holders may refer to www.bloomberg.com and www.reuters.com to obtain the performance benchmark.
Please refer to pages 35-38 for detalied explanation of risk management strategies employed by the fund manager.
During adverse market conditions, or when the Manager anticipates a downturn in market conditions, the Fund may
hold up to 100% in liquid assets, which are defensive in nature. The Manager would be expected to re-align the
Fund with principal strategies when market conditions turn for the better.









Securities traded on the Bursa Malaysia or any other market considered as an Eligible Market;
Securities not listed in or traded under the rules of an Eligible Market (“Unlisted Securities”);
Fixed income securities;
Money market instruments;
Structured products;
Derivatives instruments in Malaysia or any country globally include futures contracts traded in futures market,
for hedging purposes only;
Securities or instruments listed or traded on foreign markets where the regulatory authority is a member of the
International Organization of Securities Commissions (IOSCO);
Cash/Liquid assets; and
Any other form of investments permitted by the SC which are in line with the Fund‟s objective.
The investment limits/restrictions for LREF are as follows, or any other limits as may be prescribe by the SC from
time to time:
Exposure Limit:
 The above exposure limit of unlisted securities does not apply to unlisted securities that are:
(a) Equities not listed or quoted on a stock exchange but have been approved by the relevant regulatory
authority for such listing and quotation, and are offered directly to the Fund by the issuer; and
(b) Structured products.
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Fund‟s NAV;
Fund‟s NAV;
 For investments in derivatives:
- the exposure to the underlying assets must not exceed the investment 10% of the Fund‟s NAV;
- the Fund‟s exposure from its derivatives position should not exceed the Fund‟s NAV at all times.
15% of the Fund‟s NAV. The single counter-party limit may be exceeded if the counter-party has a minimum
long-term rating that indicates very strong capacity for timely payment of financial obligations provided by any
domestic or global rating agency and the structured product has a capital protection feature;
 The aggregate value of the Fund‟s investments in transferable securities, money market instruments, deposits
and structures products issued by or placed with (as the case may be) any single issuer/financial institution
must not exceed 25% of the Fund‟s NAV; and
 The value of the Fund‟s investments in transferable securities and money markets instruments issued by any
 The Fund‟s investments in debentures must not exceed 20% of the debentures issued by any single issuer
and;
single issuer. However, the limit does not apply to money market instruments that do not have a predetermined issue size.
The investment limits or restrictions mentioned herein shall be complied with at all times based on the most up-todate value of the Fund‟s investments
Libra Invest Berhad
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SyariahEXTRA Fund is an open-ended unit trust fund investing in a blend of quoted Shariah-compliant equities,
sukuk and other Islamic money market instruments and Shariah-compliant derivatives (financial instruments that
have no intrinsic value, but derive their value from an underlying instrument such as indices and share prices. The
Islamic financial derivatives are used to manage one‟s exposure to unexpected price fluctuations in the Shariahcompliant equity and sukuk markets), which have been approved by SACSC and/or the Shariah adviser. Its key
performance is entirely in search of consistent absolute returns over the medium to long-term investment horizon.
Background Information
The Fund was initially named the Abrar Investment Fund. It was formally renamed as the SyariahEXTRA Fund with
the registration of the Second Supplemental Deed with the Securities Commission Malaysia on 3 October 2002. It
was first offered to the public on 12 March 1996 as an open-ended Shariah-compliant unit trust fund, seeking to
provide investors with medium to long-term capital growth, and adequate level of regular income by investing in a
diversified portfolio of Shariah-compliant equities and equity-related securities and sukuk. On 9 August 2002,
pursuant to the removal of the previous management company, Maybank Trustees Berhad (formerly known as
Mayban Trustees Berhad) appointed Libra Invest Berhad to act as the management company for Abrar Investment
Fund and on 4 September 2002, the Unit Holders‟ approval was obtained in a Unit Holders‟ meeting to change the
investment objective of the Fund. The first prospectus for SyariahEXTRA Fund under the management of Libra
Invest Berhad was dated 6 November 2002.
The Fund aims to provide investors with medium to long-term capital appreciation through investments in specified
asset classes by adopting a relatively balanced approach towards equities and fixed income exposure based on the
Shariah principles. The Fund aims to achieve capital growth with lower short-term volatility than is normally
associated with a pure equity fund.
SHARIAH ADVISER
The Shariah adviser for this Fund is IBFIM. Please refer to page 127 for details of their roles and responsibilities.
INVESTMENT STRATEGY
The fund manager for SyariahEXTRA shall generally adopt an active investment strategy which emphasises on
cycles, situational opportunities, value emergence and trend reversal plays; and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of Shariah-compliant stocks that the fund manager
believes should perform well under an anticipated economic condition. Individual Shariah-compliant stock selection
will then focus on well-managed, financially sound companies with attractive relative valuations and potential for
high earnings growth over the medium to long-term time frame. The analysis includes ratio analysis on the financial
performance of companies, trend analysis to forecast future performance, and stock valuation methods.
Occasionally, when market trading is skewed towards index-linked large capitalized Shariah-compliant stocks, the
Fund will attempt to track the performance of the FBM EMAS Shariah Index by adjusting its portfolio composition
accordingly.
ASSET ALLOCATION
The Fund will invest between 40% to 60% of its NAV in quoted Shariah-compliant equities and equity-related
securities. The Fund will also invest between 40% to 60% of its NAV in sukuk with a minimum credit rating of P3 or
BBB3 by RAM or equivalent rating by other rating agencies and Islamic liquid assets. Islamic liquid assets will be
Libra Invest Berhad
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may hold significantly higher amount of Islamic liquid and defensive assets (including sukuk with different maturity
dates) than that prescribed by their respective mandates. The fund manager would be expected to re-align the
Fund with the principal strategies when market conditions turn for the better.
The benchmark of the Fund is a composite benchmark comprising 50% of the FBM EMAS Shariah Index and 50%
of the Maybank 12-months GIA-i rate. (Source: Lipper)
The Fund has a flexible asset allocation between Shariah-compliant equities and sukuk with a bias for absolute (i.e.
rather than beating the benchmark. However, as required by the Guidelines, composite benchmark indices for the
two major asset classes (Shariah-compliant equity and sukuk) is used to provide investors with a reference point for
their investments.
Over the long-term, Shariah-compliant equity asset allocation would range between 40% – 60% of the Fund‟s NAV,
and sukuk and cash would range between 40% – 60% of the Fund‟s NAV. Therefore, the composite benchmark is a
reflection of the Fund‟s average asset allocation over the long-term of 50% of the Fund‟s NAV in Shariah-compliant
equity and 50% of the Fund‟s NAV in sukuk and cash.
The Fund seeks to deliver positive returns independent of how the sukuk, cash and Shariah-compliant equity
market perform. The fund manager focuses on achieving positive returns, even in a downtrend market, rather than
beating the benchmark.
 Shariah-compliant securities of Malaysian companies listed on the recognised stock exchange;
 Units of unrelated Shariah-compliant property trust funds listed on Bursa Malaysia;
 Unlisted Shariah-compliant securities that are not traded in or under the rules of an eligible market;
 Government and semi-government sukuk, investment accounts, and Islamic money market instruments;
 Cagamas Mudharabah Bonds, sukuk which are either bank-guaranteed or carrying at least a BBB3 rating by
RAM or equivalent rating by other rating agencies;
 Government Investment Issues, Islamic accepted bills, Malaysian currency balances in hand and Islamic
deposits (Malaysian currency) with licensed financial institutions;
 Islamic futures contracts traded on an exchange approved for hedging purposes only;
 In conformity with Shariah requirements the securities of companies engages in the following activities or
producing the following categories of products shall not be included in the Fund- conventional banking,
insurance and financial services; gambling; alcohol beverages; non-halal foods; interest bearing money market
instruments; and any further restrictions as may be determined by the relevant authorities;and
 Any other kind of Shariah-compliant investment or Shariah-compliant investments as permitted by the relevant
authorities from time to time.
In conformity with Shariah requirements, the securities of companies engaged in the following activities or
producing the following categories of products shall not be included in the Fund – conventional banking, insurance
and financial services; gambling; alcoholic beverages; non-halal foods; interest bearing money market instruments;
and any further restrictions as may be determined by the SACSC and/or the Shariah adviser from time to time. In
addition, the Fund will only invest in sukuk.
The investment limits/restrictions for SyariahEXTRA shall be as follows, or any other limits as may be prescribed by
Libra Invest Berhad
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67
Exposure Limit:

The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the
Fund‟s NAV.

The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are Shariah-compliant equities not listed or quoted on a stock exchange but have been
approved by the relevant regulatory authority for such listing and quotation, and are offered directly to the
Fund by the issuer and sukuk traded on an organized OTC market.
 The value of the Fund‟s investments in ordinary Shariah-compliant shares issued by any single issuer must not
exceed 10% of the Fund‟s NAV;
 The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any single issuer must not exceed 15% of the Fund‟s NAV;
 The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed 20%
of the Fund‟s NAV;
 The Fund‟s exposure from its Shariah-compliant derivatives position should not exceed the Fund‟s NAV at all
times;
 For investments in Shariah-compliant derivatives, the exposure to the underlying assets of that Shariahcompliant derivative must not exceed the investment spread limits stipulated in the Guidelines and the value of
the Fund‟s OTC Shariah-compliant derivative transaction with any single counter-party must not exceed 10% of
the Fund‟s NAV;
 The value of the Fund‟s investments in Islamic structured products issued by a single counter-party must not
exceed 15% of the Fund‟s NAV;
 The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money
market instruments, Islamic deposits, OTC Shariah-compliant derivatives and Islamic structured products
issued by or placed with (as the case may be) any single issuer/institution must not exceed 25% of the Fund‟s
NAV;
 The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme
 The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any group of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in transferable Shariah-compliant securities (other than sukuk) must not exceed 10%
of the Shariah-compliant securities issued by any single issuer;
 The Fund‟s investments in sukuk must not exceed 20% of the sukuk issued by any single issuer;
 The Fund‟s investments in Islamic money market instruments must not exceed 10% of the instruments issued
by any single issuer. However, the limit does not apply to Islamic money market instruments that do not have a
pre-determined issue size; and
 The Fund‟s investments in Shariah-compliant collective investment schemes must not exceed 25% of the
units/shares in any one of the Shariah-compliant collective investment scheme.
Libra Invest Berhad
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ASnita is an open-ended unit trust fund, investing principally in quoted Shariah-compliant equity and equity-related
securities.
Background Information
ASnita was established in 1998 to help women enhance their role in society through greater participation in the
economic life of the nation. This will be achieved primarily by facilitating the development of Malaysian women as
informed savers and investors who have a high degree of financial independence. ASnita was originally established
pursuant to a Deed of Trust dated 30 April 1998 entered between Metrowangsa Unit Trusts Berhad as the
management company and Maybank Trustees Berhad (formerly known as Mayban Trustees Berhad) as the
Trustee of the Fund. In May 2003, pursuant to the removal of the previous management company, Libra Invest
Berhad was appointed by Mayban Trustees Berhad to act as the management company for ASnita. The first
prospectus for ASnita under the management of LIB was dated 1 July 2004.
The primary objective of the Fund is to offer relatively good and safe capital growth over the long-term period by
investing principally in an actively-managed, diversified portfolio of Shariah-compliant equities and equity-related
securities.
SHARIAH ADVISER
INVESTMENT STRATEGY
The fund manager for ASnita shall generally adopt an active investment strategy which emphasises on appropriate
asset allocation, for different market conditions to enhance risk-adjusted returns through riding market cycles,
situational opportunities, value emergence and trend reversal plays and asset class rotation.
The fund manager‟s strategy is to identify key sectors or groups of Shariah-compliant stocks that the fund manager
believes should perform well under an anticipated economic condition. Individual Shariah-compliant stock selection
will then focus on well-managed, financially sound companies with attractive relative valuations and potential for
high earnings growth over the medium to long-term time frame. The analysis includes ratio analysis on the financial
performance of companies, trend analysis to forecast future performance, and stock valuation methods.
Occasionally, when market trading is skewed towards index-linked large capitalized Shariah-compliant stocks, the
Fund will attempt to track the performance of the FBM EMAS Shariah Index by adjusting its portfolio composition
accordingly.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in quoted Shariah-compliant equities and equity-related
securities. Islamic liquid assets will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
Libra Invest Berhad
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The benchmark of the Fund is the FBM EMAS Shariah Index. (Source: Lipper)

Ordinary Shariah-compliant shares and other quoted Shariah-compliant equity-related securities such as
convertible Shariah-compliant securities, Shariah-compliant preference shares, Shariah-compliant warrants
listed on Bursa Malaysia or traded in or under the rules of other recognised stock exchange in Malaysia or
foreign markets permitted by the relevant authorities;

units or shares in other Shariah-compliant collective investment schemes;

sukuk as well as short-term Islamic money market instruments and any other kinds of Shariah-compliant
investments as agreed by the Management Company and Trustee, from time to time;

Islamic futures contract traded in futures market of an exchange approved under the Act, provided that the
participation is for hedging purposes only;

In conformity with Shariah requirements the securities of companies engages in the following activities or
producing the following categories of products shall not be included in the Fund- conventional banking,
insurance and financial services; gambling; alcohol beverages; non-halal foods; interest bearing money
market instruments; and any further restrictions as may be determined by the relevant authorities;and

Any other kind of Shariah-compliant investment or Shariah-compliant investments as permitted by the relevant
authorities from time to time.
and any further restrictions as may be determined by the relevant authorities. In addition, the Fund will only invest in
stocks that are classified as Shariah-compliant by SACSC or sukuk.
The investment limits/restrictions for ASnita shall be as follows, or any other limits as may be prescribed by the SC
from time to time:
Exposure Limit:

The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the
Fund‟s NAV.

The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are Shariah-compliant equities not listed or quoted on a stock exchange but have been
approved by the relevant regulatory authority for such listing and quotation, and are offered directly to the
Fund by the issuer.

The value of the Fund‟s investments in Shariah-compliant ordinary shares issued by any single issuer must
not exceed 10% of the Fund‟s NAV;

The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any single issuer must not exceed 15% of the Fund‟s NAV;

The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed

The Fund‟s exposure from its Shariah-compliant derivatives position should not exceed the Fund‟s NAV at all
times;
Libra Invest Berhad
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For investments in Shariah-compliant derivatives, the exposure to the underlying assets of that Shariahcompliant derivative must not exceed the investment spread limits stipulated in the Guidelines and the value of
the Fund‟s OTC Shariah-compliant derivative transaction with any single counter-party must not exceed 10%
The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money
market instruments, Islamic deposits, OTC Shariah-compliant derivatives and Islamic structured products
issued by or placed with (as the case may be) any single issuer / financial institution must not exceed 25% of
the Fund‟s NAV;
The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme
The value of the Fund‟s investments in transferable Shariah-compliant securities and Islamic money market
instruments issued by any group of companies must not exceed 20% of the Fund‟s NAV.
 The Fund‟s investments in transferable Shariah-compliant securities (other than sukuk) must not exceed 10%
of the Shariah-compliant securities issued by any single issuer;
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ASnitaBOND Fund is an open-ended unit trust fund, investing principally in a portfolio comprising highly liquid, near
cash instruments as well as short to medium-term sukuk. The Fund expects to maintain a weighted average
portfolio maturity appropriate to its stated investment objectives. Under normal circumstances, the weighted
average term to maturity of the investments is expected to be approximately 2 to 5 years.
The Fund aims to provide capital preservation with regular income over the short to medium-term period by
investing in Islamic money market instruments and other Shariah-approved fixed income securities.
SHARIAH ADVISER
INVESTMENT STRATEGY
The Fund will adopt an investment strategy which will provide returns comparable to that of short-term Islamic
money market deposits, and which will at the same time, preserve the Fund‟s principal value and maintain a high
degree of liquidity.
With respect to sukuk, the fund manager will focus on consistent, above-average returns from fundamental
research rather than from frequent trading. Emphasis is placed on credit-worthiness, investment-grade issuers of
sukuk. A disciplined application of the top-down investment process is therefore applied, with due consideration
given to the credit standing of individual issuers. The fund manager will seek to diversify the investments of the
Fund across sectors and individual sukuk in order to minimise the risk profile of the portfolio.
ASSET ALLOCATION
The Fund will invest a minimum of 70% of its NAV in sukuk. Cash, Islamic deposits and other Islamic liquid assets
will be maintained at all times at a minimum of 2% of the Fund‟s NAV.
The benchmark of the Fund is the Maybank 6-months GIA-i Tier I rate. (Source: Lipper)
Investment in the Fund is not the same as placement in a deposit with a financial institution. The capital and returns
of the Fund are not guaranteed and there are risks involved. Hence, the risk profile of the Fund does not reflect that
of a general investment account.
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





Government and semi-government sukuk, General Investment Accounts, Special Investment Account, Islamic
money market instruments, private sukuk, Islamic treasury products listed on the Bursa Malaysia;
Islamic instruments issued by bank and financial institutions issued instruments;
Government Investment Issues, Islamic Accepted Bills, Malaysia currency balances in hand and Islamic
deposits (Malaysian currency) with authorised financial institutions including investment certificates;
Cagamas Mudharabah Bonds, sukuk which are either bank-guaranteed or carrying at least a BBB3 rating by
RAM or equivalent rating by other rating agencies;
Islamic futures contracts traded on an exchange approved under the Act provided that, the participation is for
hedging purposes and is approved by the Shariah adviser; and
Any other kind of Shariah-compliant investments in Malaysia and outside Malaysia as agreed upon by the
Management Company and Trustee.
and any further restrictions as may be determined by the SASCS and/or Shariah adviser from time to time. In
addition, the Fund will only invest in sukuk.
The investment limits/restrictions for ASnitaBOND shall be as follows, or any other limits as may be prescribed by
Exposure Limit:
 The value of the Fund‟s investments in unlisted Shariah-compliant securities must not exceed 10% of the Fund‟s
NAV.
 The above exposure limit of unlisted Shariah-compliant securities does not apply to unlisted Shariah-compliant
securities that are sukuk traded on an organized OTC market.
 The value of the Fund‟s investments in sukuk issued by any single issuer must not exceed 20% of the Fund‟s
NAV. The single issuer limit may be increased to 30% of the Fund‟s NAV if the sukuk are rated by any domestic
or global rating agency to be of the best quality and offer highest safety for timely payment of profit and
principal;
 The value of the Fund‟s investments in sukuk issued by any one group of companies must not exceed 30% of
the Fund‟s NAV;
 The value of the Fund‟s placement in Islamic deposits with any single financial institution must not exceed 20%
 The aggregate value of the Fund‟s investments in transferable Shariah-compliant securities, Islamic money
market instruments, Islamic deposits and Islamic structured products issued by or placed with (as the case may
be) any single issuer / financial institution must not exceed 25% of the Fund‟s NAV. However, the aggregate
value of the Fund‟s investment must not exceed 30% of the Fund‟s NAV where the single issuer limit is
increased to 30% of the Fund‟s NAV if the sukuk are rated by any domestic or global rating agency to be of the
best quality and offer highest safety for timely payment of profit and principal;
 The value of the Fund‟s investments in units/shares of any Shariah-compliant collective investment scheme
 No maximum limit is imposed if the issuer is the Malaysian government or BNM or the issue is an issue
guaranteed by any of the aforementioned institutions.
Libra Invest Berhad
Master Prospectus
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Libra Invest Berhad
Master Prospectus
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7. ADDITIONAL INFORMATION IN RELATION TO THE FUNDS
Policy on Application of Investment Restrictions of the Funds
IncomeEXTRA,
EquityEXTRA,
BondEXTRA,
MoneyEXTRA,
VersatileEXTRA,
TacticalEXTRA, LCLAF, LLF, LREF, SyariahEXTRA, ASnita and ASnitaBOND.
DividendEXTRA,
Any entitlement accruing on the investment held may be excluded when determining compliance with the
investment restrictions. However, the entitlement should not be exercised if the exercise results in the breach of any
restrictions specified. Nevertheless, the right of convertibility may be exercised even if it results in the breach of the
restrictions, provided there are justifiable reasons and prior approval of the Trustee has been obtained, and the
Management Company takes all necessary steps and actions to rectify the breach within a reasonable time of not
more than one (1) month from the date of the breach.
A 5% allowance in excess of any limit or restriction may be permitted, where the breach occurred through an
appreciation or depreciation of the NAV of the Fund, whether as a result of an appreciation or depreciation in the
value of the investments, or as a result of repurchase of units or payment made by the Fund. The Management
Company should not make any further acquisitions and will take necessary steps and actions to rectify the breach
within a reasonable period of not more than three (3) months from the date of the breach. Such limits and
restrictions, however, do not apply to securities that are issued or guaranteed by the government of Malaysia or
BNM.
As the minimum liquid assets level for the Fund is specified to ensure sufficient short-term liquidity in the Fund to
meet operating expenses and possible redemption of the Fund‟s units, where the level of liquid assets for the Fund
drop below the minimum level specified, the Management Company will take all necessary steps and actions to
meet the minimum level specified within ten (10) calendar days. If a longer period is required, such period shall be
determined by the Management Company after consultation with the Trustee.
Liquid assets of the Fund may be held in the form of cash, net creation/cancellation, net amount
receivable/(payable) from the brokers/dealers, deposits with licensed institutions and/or other institutions licensed or
approved to accept deposits and any other instruments, including short-term commercial papers, which are
convertible into cash within seven (7) days as may be approved by the Trustee. Liquid assets of SyariahEXTRA,
ASnita and ASnitaBOND must comply with Shariah requirements.
Libra Invest Berhad
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Valuation of Assets
The Management Company will ensure that all the assets of the respective Funds are valued at fair value and at all
times be in compliance with Schedule B of the Guidelines.

Quoted securities and suspended securities
Investments in quoted securities will be valued based on the last done prices as at the close of the Business Day of
the respective markets on the same calendar day. In the event of a suspension in the quotation of the securities for
a period exceeding 14 days, or such shorter period as agreed by the Trustee, or when the market price is not
reflective of the fair value of the securities due to abnormal market situation, then the securities should be valued at
fair value, as determined in good faith by the Management Company based on methods or bases approved by the
Trustee after appropriate technical consultation.

Unquoted fixed income securities/sukuk
Unquoted fixed income securities/sukuk are measured at fair values. The fair values of unquoted fixed income
securities/sukuk are generally obtained from the indicative market yields quoted by a bond pricing agency
registered with the SC. However, where the fund manager is of the opinion that the value of the fixed income
securities/sukuk differs from the indicative yields quoted by the bond pricing agency by more than 20 basis points,
the fund manager will value the securities based on a pricing model that reflects the prevailing market conditions
provided it complies with the requirement in the Guidelines.

Quoted securities dividends
Dividends from quoted securities are recognised on the ex-dividend date.

Derivatives
Derivative instruments are marked-to-market on a daily basis. Any changes in the value of the contracts are
adjusted for directly in the margin accounts, with a corresponding recognition in the unrealized reserves.

Collective investment schemes
Investments in collective investment schemes will be valued, based on the last published NAV per Unit or if
unavailable, other appropriate method as determined by the Management Company and approved by the Trustee.

Deposits
Valuation for investment in deposits is based on a fixed rate with interest/profit accrued on a daily basis.

Structured products
The valuation of structured products is marked-to-market on a daily basis using valuation prices quoted by the
structured products provider.

Money market instruments
Valuation of money market instruments shall be done on a daily basis using accretion method of the discount rate
or yield to maturity at which the instruments were purchased.
Valuation Point for the Funds
The valuation of NAV of Funds with no foreign investments is calculated at the end of each Business Day. In
the case of Funds with investments in foreign markets, the valuation time may be extended to 10.00 a.m. local
time of the next Business Day (T+1 day) due to the different time zones of foreign markets. Consequently, the
daily NAV of Funds with foreign investments may be published two (2) Business Days later instead of the next
Business Day. The foreign exchange rate used for valuation of foreign investment is based on bid rate
obtained from Reuters or Bloomberg at U.K. time 4.00 p.m. the same day. Unit Holders may contact the
Management Company or visit our website at www.librainvest.com to obtain the latest NAV of the Funds.
Libra Invest Berhad
Master Prospectus
76
8. SHARIAH INVESTMENT GUIDELINES
Shariah Investment Guidelines adopted by IBFIM, Cleansing Process and Zakat for the Fund
1.
Shariah Investment Guidelines
The following matters are adopted by IBFIM in determining the Shariah status of investments of the Fund.
INVESTMENT IN MALAYSIA
Equity:
Reference for investment in local securities is based on the list of Shariah-compliant securities issued by the
SACSC twice yearly on the last Friday of May and November which is readily available at the SC‟s website.
However, for Initial Public Offering (“IPO”) companies that have yet to be determined the Shariah status by the
SACSC, IBFIM adopts the following analysis as a temporary measure in determining its Shariah status until the
SACSC releases the Shariah status of the respective companies.

Core Business Activities Analysis
Companies whose activities are not contrary to the Shariah will be classified as Shariah-compliant securities.
On the other hand, companies will be classified as Shariah non-compliant if they are involved in the following
core business activities:
a) Conventional financial services;
b) Gambling and gaming;
c) Manufacture or sale of non-halal products or related products (e.g. pork and liquor);
d) Manufacture or sale of tobacco-based products or related products;
e) Pornography;
f) Weaponry;
g) Entertainment activities that are not permitted by the Shariah; and
h) Other activities considered non-permissible according to the Shariah.

Mixed Business Activities Analysis
For companies with activities comprising both permissible and non-permissible elements, IBFIM applies two
analyses before they can be classified as Shariah-compliant. The analyses are as follows:
i)
Qualitative Analysis
In this analysis, IBFIM will look into aspects of general public perception of the companies‟ images, core
businesses which are considered important and maslahah (beneficial) to the Muslim ummah and the country,
the non-permissible elements are very small and involve matters like umum balwa (common plight and difficult
to avoid), ‘uruf (custom) and rights of the non-Muslim community which are accepted by the Shariah.
ii)
Quantitative Analysis
Companies which passed the above qualitative analysis will be further subjected to quantitative analysis.
IBFIM deduces the following to ensure that they are lower than the Shariah tolerable benchmarks:
a)
Business Activity Benchmarks
The 5% benchmark would be applicable to the following business activities:



Conventional banking;
Conventional insurance;
Gambling;
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Liquor and liquor-related activities;
Pork and pork-related activities;
Non-halal food and beverages;
Shariah non-compliant entertainment;
Interest income from conventional accounts and instruments;
Tobacco and tobacco-related activities; and
Other activities considered non-compliant according to Shariah.
The 20% benchmark would be applicable to the following activities:





Hotel and resort operations;
Share trading;
Stockbroking business;
Rental received from Shariah non-compliant activities; and
Other activities considered non-compliant according to Shariah.
The contribution of Shariah non-compliant activities to the overall revenue/sales/turnover/income and
profit before tax of the companies will be calculated and compared against the relevant business activity
benchmarks.
b)
Financial Ratio Benchmarks
The financial ratios applied are as follows:

Cash over Total Assets
Cash will only include cash placed in conventional accounts and instruments, whereas cash placed in
Islamic accounts and instruments will be excluded from the calculation.

Debt over Total Assets
Debt will only include interest-bearing debt whereas Islamic debt/financing or sukuk will be excluded
from the calculation.
Both ratios, which are intended to measure riba and riba-based elements within a companies‟ balance
sheet, must be lower than 33%.
Should any of the above deductions fail to meet the benchmarks, IBFIM will not accord Shariah-compliant
status for the companies.
Sukuk and Islamic Money Market Instruments:
IBFIM will review any sukuk and/or Islamic money market instruments based on the data available at Bond Info Hub
(www.bondinfo.bnm.gov.my) and Fully Automated System For Issuing/Tendering (https://fast.bnm.gov.my).
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INVESTMENT IN FOREIGN MARKETS
Equity:

Core Business Activities Analysis
Companies whose activities are not contrary to the Shariah will be classified as Shariah-compliant securities.
On the other hand, companies will be classified as Shariah non-compliant if they are involved in the following
core business activities:
a)
b)
c)
d)
e)
f)
g)
h)

Conventional financial services;
Gambling and gaming;
Manufacture or sale of non-halal products or related products (e.g. pork and liquor);
Manufacture or sale of tobacco-based products or related products;
Pornography;
Weaponry;
Entertainment activities that are not permitted by the Shariah; and
Other activities considered non-permissible according to the Shariah.
Mixed Business Activities Analysis
For companies with activities comprising both permissible and non-permissible elements, IBFIM applies two
analyses before they can be classified as Shariah-compliant. The analyses are as follows:
i)
Qualitative Analysis
In this analysis, IBFIM will look into aspects of general public perception of the companies‟ images, core
businesses which are considered important and maslahah (beneficial) to the Muslim ummah and the
country, the non-permissible elements are very small and involve matters like umum balwa (common
plight and difficult to avoid), ‘uruf (custom) and rights of the non-Muslim community which are accepted by
the Shariah.
ii)
Quantitative Analysis
Companies which passed the above qualitative analysis will be further subjected to quantitative analysis.
IBFIM deduces the following to ensure that they are lower than the Shariah tolerable benchmarks:




Contribution of interest income to the total income is lower than 5% of the total income;
Total debt of the companies (including all interest-bearing loans/debentures and their respective
payables such as short term/long term debts, short term/long term debentures and all debentures
payables) is lower than 30% of the total assets of the companies;
Total sum of companies‟ cash and receivables is lower than 70% of its total assets; and
Income generated from other prohibited components from Shariah perspective is lower than 5% of the
companies‟ total income.
Should any of the above deductions fail to meet the benchmarks, IBFIM will not accord Shariah-compliant
status for the companies.
Foreign sukuk:
IBFIM will review the information memoranda or prospectuses of the sukuk, its structures, utilisation of
proceeds, Shariah contracts, Shariah pronouncements, etc.
Libra Invest Berhad
Master Prospectus
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79
Cleansing Process for the Fund
a)
Wrong Investment
This refers to Shariah non-compliant investment made by the fund manager. The said investment will be
disposed of/withdrawn with immediate effect. In the event of the investment resulted in gain (through
capital gain and/or dividend/profit), the gain is to be channelled to Baitulmal or any other charitable bodies
as advised by the Shariah Adviser. If the disposal of the investment resulted in losses to the Fund, the
losses are to be borne by the Fund Manager.
b)
Reclassification of Shariah Status of the Fund’s Investment
Reclassification of Shariah status refers to security which is reclassified as Shariah non-compliant by the
SACSC, the Shariah Adviser or the Shariah Boards of the relevant Islamic Indices. The said security will
be disposed soonest practical, once the total amount of dividends is received and the market value held
equals the original investment costs.
Any capital gains arising from the disposal of the Shariah non-compliant security made at the time of the
announcement can be kept by the Fund. However, any excess capital gains derived from the disposal
after the announcement day at a market price that is higher than the closing price on the announcement
day is to be channelled to Baitulmal or any charitable bodies as advised by the Shariah Adviser.
3.
Zakat (tithe) for the Fund
The Fund does not pay zakat on behalf of Muslim individuals and Islamic legal entities who are investors of the
Fund. Thus, investors are advised to pay zakat on their own.
Libra Invest Berhad
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9. FUNDS PERFORMANCE
Average Total Returns
IncomeEXTRA
(Inception date: 10 Sept 1999)
Benchmark:
Maybank 6-months fixed deposit rate and IE
benchmark (Note 1)
Average Total Returns (%)*
3 years
5 years
30.70
7.56
1 year
-0.33
5.53
15.41
20.34
10 years
22.64
39.04
The Fund registered a negative return of 0.3%, underperforming the benchmark
return of 5.5%. The Fund‟s strategy to stay
overweight on regional and domestic REITs
did not work well this year as expectations of
higher bond yield took effect. Although the
fund did not meet its objective of achieving
positive return in 2013, it has provided
steady positive return since 2011 and is
expected to do so in 2014. The Fund will
continue to invest in domestic blue chip
companies as its core stocks while seeking
out undervalued cyclical high yielders for
investment in the region.
* The average total returns of the above Fund for the respective financial years are calculated based on NAV to NAV.
2004
2005
2006
Annual Total Returns (%)**
2007
2008
2009
2010
2011
2012
2013
IncomeEXTRA
5.12
Benchmark (Note 1):
Maybank 6-months
3.03
fixed deposit rate
and IE benchmark
4.82
4.51
4.28
-5.06
3.80
-20.72
16.07
12.98
-0.33
3.04
3.47
3.45
3.42
2.25
2.54
0.70
8.83
5.53
Source: Lipper
** The average total returns of the above Fund for the respective financial years are calculated based on NAV to
NAV.
Note 1: Effective 16 August 2011, the Fund has adopted a new mandate and is now classified as a balanced fund,
where the new benchmark is IE Benchmark (50% MSCI AC Asia Pacific ex-Japan and 50% Maybank 12-months
fixed deposit rate). Where applicable, the benchmark returns are the time-weighted average returns of Maybank
6-months fixed deposit rate and IE Benchmark.
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1 year
20.77
EquityEXTRA
Benchmark:
FBM 100
11.39
3 years
5 years
33.75
103.00
24.44
120.77
10 years
148.27
143.80
The Fund posted strong gain of 20.8%,
significantly outperforming its FBM100
benchmark, which was up 11.4% for the
same year. The Fund lost out slightly to the
FBM100 benchmark in December (+2.3%)
due to heavy window dressing activities in
PETRONAS related names. We decided to
take a more cautious stance and reduced
equity weighting to around 75% given
uncertainty over China growth and the
impact of on-going US QE3 tapering. The
9.4%
outperformance
against
the
benchmark was a testament of our
investment process to seek out companies
with good fundamentals and more
importantly at the right price. The Fund‟s
holdings consist of companies with relatively
secured, concession like earnings with good
dividend yield.
* The average total returns of the above Fund for the respective financial years are calculated based on NAV to
NAV.
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
EquityEXTRA
6.04
Benchmark:
FBM 100
14.29
4.48
23.80
27.18
29.89
30.44
16.35
1.40
9.22
20.77
0.84
21.83
31.82
39.33
45.71
21.76
1.94
9.60
11.39
Source: Lipper
** Annual total returns of the above Fund represents annualized returns over the specified period assuming
reinvestment of all distributions.
Libra Invest Berhad
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3 years
5 years
20.80
30.70
1 year
1.07
BondEXTRA
(Inception date: 8 Oct 2002)
Benchmark:
Maybank 12-months fixed deposit rate
3.15
9.62
15.57
10 years
55.72
38.71
The Fund continues to deliver positive
returns of 1.07%, albeit lower than its
benchmark 12-month Maybank Fixed
Deposit returns of 3.15%. The Fund‟s return
was affected by rising corporate sukuk/ bond
yields during the year, reflecting sentiment in
the domestic and global bond market.
Moving forward, the Fund will continue to
give strong emphasis on bond issuers‟ credit
strength focusing on cash flow consistency,
stringent
structure
and
experienced
management teams. The Fund invested in
higher yielding fixed income securities in
order to provide aggressive long term capital
growth. The Fund is expected to continue to
benefit from capital appreciation of its bond
portfolio, interest income from the coupon
attached to the debt instruments and the
positively
sloped
yield
curve
that
commensurate with its duration and risk
profile.
NAV.
BondEXTRA
Benchmark:
Maybank 12-months
fixed deposit rate
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
5.74
5.37
5.23
4.98
-3.20
9.38
-1.08
12.19
6.53
1.07
3.70
3.69
3.79
3.72
3.68
2.62
2.74
3.02
3.15
3.15
Source: Lipper
Libra Invest Berhad
Master Prospectus
83
MoneyEXTRA
Benchmark:
Average repurchase agreement (Repo) rate
3 years
5 years
10.07
17.20
1 year
3.13
3.03
9.19
14.16
10 years
37.79
32.84
The Fund continues to outperform its
benchmark, with returns of 3.13% against
the benchmark Repo return of 3.03%. The
Fund‟s return was derived from its holdings
in short-term commercial papers and fixed
income assets as well as short term deposit
placements.
Strong emphasis is given to the Fund‟s
liquidity while successfully meeting its
objective of providing consistent current
income to its investors. It will continue its
philosophy of providing conservative returns
while maintaining fluidity of Funds for its
investors to meet short term needs.
NAV.
MoneyEXTRA
Benchmark:
Average repurchase
agreement (Repo)
rate
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2.87
2.97
3.47
3.58
3.55
3.37
3.01
3.19
3.43
3.13
2.69
2.63
3.24
3.38
3.45
2.12
2.37
2.86
3.03
3.03
Source: Lipper
Libra Invest Berhad
Master Prospectus
84
1 year
12.96
VersatileEXTRA
Benchmark:
50% FBM 100 and 50% Maybank 12months fixed deposit rate
7.30
3 years
5 years
22.69
71.05
17.18
60.79
10 years
104.61
87.45
The Fund registered a gain of 13.0% in
2013, outperforming its benchmark which
was up by 7.3%. Stock picks such as MyEg,
Tune Insurance and Yinson were the top
performers while VARD and Eversendai was
the main drag in performance. The Fund has
met its objective of providing capital
appreciation by adopting a relatively balance
approach towards equities and fixed income
exposure and has outperformed the
benchmark since inception. In 2014, the
Fund is expected to continue to look for
fundamentally sound investments at the
right price with a focus on cyclical to play the
global growth recovery.
NAV.
VersatileEXTRA
Benchmark:
50% FBM 100 and
50% Maybank 12months fixed deposit
rate
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
14.58
2.70
16.92
27.64
31.88
30.77
6.61
3.90
4.54
12.96
9.05
1.47
12.55
17.33
20.21
22.53
11.98
2.65
6.39
7.30
Source: Lipper
Libra Invest Berhad
Master Prospectus
85
1 year
12.27
DividendEXTRA
(Inception date: 18 Mac 2005)
Benchmark:
FBM 100
11.39
3 years
5 years
34.91
100.42
24.44
120.77
10 years
137.95
143.80
The Fund posted gains of 12.3%, slightly
outperforming its FBM 100 benchmark,
which was up 11.4% for the same year. The
Fund lost out slightly to the FBM100
benchmark in December (+2.3%) due to
heavy window dressing activities in
PETRONAS-related companies and as
investors took profit on dividend stocks. We
decided to take a more cautious stance and
reduced equity weighting to around 75%80% given uncertainty over China growth
and the impact of the on-going US QE3
tapering. Overall, the Fund continues to
meet its objective of maximizing capital
returns over a medium to long term and has
outperformed its benchmark since inception.
NAV.
DividendEXTRA
Benchmark:
FBM 100
2008
2009
2010
2011
2005
2006
2007
2012
2013
5.14
18.80
26.86
24.37
29.92
14.34
6.47
12.85
12.27
0.80
21.83
31.82
39.38
45.71
21.76
1.94
9.60
11.39
Source: Lipper
Libra Invest Berhad
Master Prospectus
86
1 year
9.72
TacticalEXTRA
Benchmark:
FBM 100 and 50% Maybank 12-months
fixed deposit rate
7.30
3 years
5 years
22.57
79.91
17.18
60.79
10 years
158.14
72.51
The Fund posted strong gains of 9.7%,
slightly outperforming its benchmark return
of 7.3% for the same year. We have decided
to take a more cautious stance and reduced
equity weighting to around 65-75%% given
uncertainty over China growth and the
impact of the on-going US QE3 tapering.
Overall, the Fund continues to meet its
objective of maximizing capital returns over
a medium to long term and has
NAV.
TacticalEXTRA
Benchmark:
FBM 100 and 50% Maybank
12-months fixed deposit rate
2008
2009
2010
2011
2005
2006
2007
2012
2013
11.40
30.04
37.47
26.48
26.47
16.06
1.48
10.09
9.72
2.26
12.55
17.32
20.21
22.52
11.98
2.65
6.39
7.30
Source: Lipper
Libra Invest Berhad
Master Prospectus
87
LCLAF
(Inception date: 18 July 2007)
Benchmark:
MSCI AC Asia Consumer
Discretionary Index
3 years
5 years
15.41
92.62
1 year
7.24
24.01
19.99
105.33
10 years
24.78
9.37
The Fund posted a gain of 7.24%,
underperforming the benchmark which was
up 24% in the same year, which was largely
due to strong performance from Japan
(which we have mistakenly underweighted)
as a result of their own version of
quantitative easing. Strong performance
from Asean markets in the 1Q were erased
by 3Q especially in Indonesia due to a
combination of Fund outflows and twin
deficit problems. Over the long term, we
continue to believe that the consumption
theme in Asia remain sound and sustainable
especially given the population profile and
urban migration in countries such as China
and Indonesia. In 2014, we look to add more
exposure towards Japan on weakness and
other north Asian markets to capture the
cyclical recovery in US and Euro-land.
Overall, the Fund continues to meet its
objectives of maximizing capital returns over
a medium to long term and has
NAV.
LCLAF
(Inception date: 18 July 2007)
Benchmark:
MSCI AC Asia Consumer
Discretionary Index
2009
2010
2011
2012
2007
2008
5.77
36.90
44.43
15.56
5.85
14.30
24.78
2013
4.13
45.67
48.44
15.28
13.36
11.67
9.37
Source: Lipper
Libra Invest Berhad
Master Prospectus
88
LLF
(Inception date: 18 Feb 2009)
Benchmark:
1 year
3 years
Since
Inception
3.15
7.41
10.46
1.82
5.29
7.12
The Fund was up 3.15%, outperforming its
benchmark return of 1.82%. Returns for LLF
were derived from its investments in shortterm Ringgit deposits placed with licensed
financial institutions. In line with its objective,
the Fund has provided consistent income
with minimal risk while preserving capital
and maintaining a high degree of liquidity. It
aims to continue to provide conservative
returns while maintaining fluidity of funds to
meet its investors short term needs.
NAV.
2009
LLF
(Inception date: 18 Feb 2009)
Benchmark:
2010
2011
2012
2013
1.06
1.76
1.26
2.84
3.15
0.63
1.10
1.61
1.78
1.82
Source: Lipper
Libra Invest Berhad
Master Prospectus
89
1 year
3 years
Since
Inception
-4.57
3.02
LREF
(Inception date: 18 March 2011)
LREF Benchmark:
(Note 2)
15.0% MSCI ACWI15.0% J.P. Morgan Global Aggregate
Bond Index + 17.5% S&P/ASX 200 Index + 17.5% S&P/TSX
Composite Index + 17.5% AUD Deposit Rates, Australia 1year fixed deposit rate + 17.5% CAD Deposit Rates, Canada
1-year fixed deposit rate
-8.06
-
11.66
During the period under review from
30th September 2012 to 30th September 2013,
LREF lost 4.6% and underperformed the
benchmark by 4%. Overall, resources stocks
have performed poorly as the lacklustre
global economy and no sign of a significant
pickup in demand for commodities from
China. Given the above, we continued to
favour the oil and gas supply chain in
Malaysia and ASEAN given the huge capex
planned over the few years.
Currently the Fund is 84.6% invested in
equity. The Fund is expected to maintain a
neutral asset allocation in view of the
possible tapering by the Federal Reserve by
1Q 2014.
NAV.
LREF
LREF Benchmark:
15.0% MSCI AC World Index + 15.0% J.P. Morgan
Global Aggregate Bond Index + 17.5% S&P/ASX 200
Index + 17.5% S&P/TSX Composite Index + 17.5%
AUD Deposit Rates, Australia 1-year fixed deposit rate
+ 17.5% CAD Deposit Rates, Canada 1-year fixed
deposit rate
For period ended
30 September
30 September
30 September
2011
2012
2013
-10.88
7.74
-4.57
-15.05
7.67
8.06
Source: Lipper
Note 2: Effective 16 October 2013, LREF has adopted a new mandate and is now classified as an equity fund,
where the new benchmark is MSCI ACWI.
Libra Invest Berhad
Master Prospectus
90
1 year
SyariahEXTRA
Benchmark:
50% FBM EMAS Shariah Index and 50%
Maybank 12-months GIA-i rate
3 years
5 years
14.60
24.38
65.40
Since
takeover
2 Jan 2003
112.58
8.24
19.77
60.46
101.67
The Fund posted strong gains of 14.6%,
significantly outperforming its mixed Shariah
benchmark, which was up 8.3% for the
same year. The Fund‟s exposure in airlines
(AirAsia X) and construction (WCT Holdings
Bhd and Eversendai Corporation Bhd)
sectors was the main drag in 2013 but
compensated by performance from MyEG.
The Fund is looking to take more a tactical
trading strategy in equities going forward
and look for re-entry into the plantation
sector. Overall the Fund met its investment
objective of providing investors capital
appreciation by adopting a relatively
balanced approach towards Shariahcompliant equities and sukuk exposure.
NAV.
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
SyariahEXTRA
6.35
Benchmark:
50% FBM EMAS
6.48
Shariah Index and
50% Maybank 12months GIA-i rate
1.20
13.08
18.52
33.33
20.45
10.40
6.14
2.25
14.60
2.69
14.68
23.39
23.21
21.44
10.32
2.92
7.51
8.24
Source: Lipper
Performance data prior to 2 January 2003 is not available to LIB. With the approval of the Fund‟s Unit Holders in a
Unit Holders meeting held on 4 September 2002, the Fund has adopted a balanced approach towards Shariahcompliant equities and sukuk exposure since 3 October 2002. For the period from inception to 1 November 2002,
SyariahEXTRA was benchmarked against the Kuala Lumpur Shariah Index (KLSI). Subsequently, the new
benchmark for the Fund is the FTSE Bursa Malaysia EMAS Shariah Index as the KLSI, the previous benchmark,
was deactivated on 31 October 2007 by Bursa Malaysia.
Libra Invest Berhad
Master Prospectus
91
1 year
ASnita
(Inception date: 4 May 1998)
Benchmark:
FBM EMAS Shariah Index
3 years
5 years
17.59
17.88
72.31
Since
takeover
2 May 2003
233.25
13.29
29.76
119.37
173.06
The Fund registered a gain of 17.6% in
2013, outperforming its Shariah benchmark
which was up by 13.3%. Stock picks such as
TSH and MyEg were the top performers
while WCT and Eversendai was the main
drag in performance. The Fund has met its
objective of providing capital appreciation by
adopting a relatively balance approach
towards Shariah-compliant equities and
sukuk exposure and has outperformed the
benchmark since inception. In 2014, the
Fund is expected to continue to look for
fundamentally sound investments at the
right price with focus on cyclical to play the
global growth recovery.
NAV.
ASnita
(Inception date: 4 May 1998)
Benchmark:
FBM EMAS Shariah
Index
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
6.20
1.07
15.10
29.20
31.46
27.47
14.67
2.38
2.69
17.59
9.18
8.73
26.52
45.57
43.52
43.03
18.20
2.41
11.85
13.29
Source: Lipper
Performance data prior to 2 May 2003 is not available to LIB. The Fund was first benchmarked against the Kuala
Lumpur Shariah Index (KLSI) in 2003 when LIB took over the management of the Fund on 2 May 2003 from the
previous management company, Metrowangsa Unit Trusts Berhad. Subsequently, the new benchmark for the Fund
is the FTSE Bursa Malaysia Emas Shariah Index as the KLSI, the previous benchmark, was deactivated on
31 October 2007 by Bursa Malaysia.
Libra Invest Berhad
Master Prospectus
92
3 years
5 years
1 year
ASnitaBOND
Benchmark:
Maybank 6-months GIA-i Tier I Rate
2.79
15.68
28.65
Since
Inception
44.49
3.16
9.65
15.06
31.26
The Fund continues to deliver positive returns
in 2013. However, the Fund‟s return of 2.79%
is slightly lower than its benchmark 6-month
Maybank GIA return of 3.16%. The Fund‟s
return was affected by rising corporate sukuk
yields during the year, reflecting sentiment in
the domestic and global bond/sukuk market.
The Fund derived its return from a selection of
sukuk, Islamic money market instruments and
Islamic deposit placements. The Fund will
continue to give strong emphasis on sukuk
issuers‟ credit strength focusing on cash flow
consistency,
stringent
structure
and
experienced management teams. Careful
selection of sukuk and Islamic money market
instruments are carried out to allow the Fund to
benefit from higher profit returns that
commensurate with its risk profile. The Fund
focuses on being conservative from the risk
perspective while benefiting from investments
in government and corporate sukuk that
conform to Shariah requirements.
NAV.
ASnitaBOND
Benchmark:
Maybank 6-months GIA-i
Tier I Rate
2008
2009
2010
2011
2005
2006
2007
2012
2013
2.22
4.81
2.92
2.28
5.53
5.39
6.44
5.72
2.79
3.10
3.41
3.18
2.66
2.31
2.56
3.02
3.17
3.16
Source: Lipper
Libra Invest Berhad
Master Prospectus
93
Distribution Record
There was no income distribution for the year 2011, 2012 and 2013.
Interest income
Realised gain on sale of investments
Less
Expenses
Net distribution amount
2013
RM
-
Financial Year ended 31 December
2012
2011
RM
RM
4,437,502
3,942,320
246,077
4,161,479
4,683,579
8,103,799
(883,761)
(1,098,399)
3,799,818
7,005,400
Distribution Date
Gross distribution per Unit (sen)
-
26 July
2.51 (26 July)
Net distribution per Unit (sen)
-
2.51 (26 July)
NAV before distribution per Unit (RM)
-
0.5302 (25July)
NAV after distribution per Unit (RM)
-
0.5052 (27 July)
26 May & 29 Dec
3.75 (26 May)
1.14 (29 Dec)
3.75 (26 May)
1.14 (29 Dec)
0.5374 (25 May)
0.5164 (28 Dec)
0.5000 (26 May)
0.5050 (29 Dec)
There was no income distribution for the year 2013. Distribution to Unit Holders for 2011 and 2012 was sourced
from interest income and realised gain on sale of investments. Distributions were automatically reinvested into the
Fund with no sales charge. The effect of distribution made will reduce the NAV per Unit of the Fund right after the
distribution, but the total wealth of the investors just before and after distribution will remain unchanged.
Libra Invest Berhad
Master Prospectus
94
Distribution Record
Interest income
Less
Expenses
Distribution Date
2013
RM
4,453,740
1,963,128
6,416,868
(1,172,457)
5,244,411
2012
2011
RM
RM
6,117,057
6,663,260
1,897,006
3,724,710
8,014,063
10,387,970
(1,518,576)
(2,048,681)
6,495,487
8,339,289
26 Mac, 25 June
25 Sept & 26 Dec
0.36 (26 Mar)
0.36 (25 June)
0.36 (25 Sep)
0.36 (26 Dec)
0.36 (26 Mar)
0.36 (25 June
0.36 (25 Sep)
0.36 (26 Dec)
29 Mac, 28 June
28 Sept & 28 Dec
0.36 (28 Mac)
0.36 (26 June)
0.36 (25 Sept)
0.36 (27 Dec)
0.36 (28 Mac)
0.36 (26 June)
0.36 (25 Sept)
0.36 (27 Dec)
26 Mac, 25 June
28 Sept & 29 Dec
0.36 (29 Mac)
0.36 (28 June)
0.36 (28 Sept)
0.36 (28 Dec)
0.36 (29 Mac)
0.36 (28 June)
0.36 (28 Sept)
0.36 (28 Dec)
0.5460 (25 Mac)
0.5475 (24 Jun)
0.5471 (24 Sep)
0.5478 (24 Dec)
0.5425 (26 Mar)
0.5435 (25 Jun)
0.5435 (25 Sep)
0.5443 (26 Dec)
0.5427 (27 Mac)
0.5438 (25 June)
0.5446 (24 Sep)
0.5455 (26 Dec)
0.5395 (29 Mac)
0.5402 (27June)
0.5411 (26 Sept)
0.5419 (28 Dec)
0.5398 (28 Mac)
0.5407 (27 June)
0.5416 (27 Sep)
0.5417 (27 Dec)
0.5363 (29 Mac)
0.5372 (28 June)
0.5380 (28 Sept)
0.5382 (28 Dec)
Distribution to Unit Holders for 2011, 2012 and 2013 was sourced from interest income and realised gain on sale of
investments. Distributions were automatically reinvested into the Fund with no sales charge. The effect of
distribution made will reduce the NAV per Unit of the Fund right after the distribution, but the total wealth of the
investors just before and after distribution will remain unchanged.
Interest income
Previous year‟s realised gain
Less
Expenses
2013
RM
-
Distribution Date
-
2012
2011
RM
RM
144,186
246,547
412,657
803,390
(202,491)
600,899
29 Dec
-
-
-
-
0.5439 (28 Dec)
0.5050 (29 Dec)
3.95
3.95
Libra Invest Berhad
Master Prospectus
95
Distribution Record
There was no income distribution for the year 2012 and 2013. Distribution to Unit Holders for 2011 was sourced
from interest income, realised gain on sale of investments and previous year‟s realised gain. Distributions were
automatically reinvested into the Fund with no sales charge. The effect of distribution made will reduce the NAV per
Unit of the Fund right after the distribution, but the total wealth of the investors just before and after distribution will
remain unchanged.
Interest income
Less
Expenses
Distribution Date
2013
RM
89,467
654,533
353,543
1,097,543
(326,420)
771,123
2012
2011
RM
RM
41,500
191,938
827,538
1,060,977
(178,018)
882,959
13 Mar
6.00
6.00
-
29 Dec
0.7326(12 Mar)
0.6683(13 Mar)
-
0.6949 (28 Dec)
0.6300 (29 Dec)
6.58
6.58
remain unchanged.
Interest income
Less
Expenses
2013
RM
-
2012
2011
RM
RM
909,480
885,350
13,920,604
15,715,434
(1,653,063)
14,062,371
Distribution Date
-
-
26 May
14.82
14.82
-
-
0.6959 (25 May)
-
-
0.5500 (26 May)
There was no income distribution for the year 2012 and 2013. Distribution to Unit Holders for 2011 was sourced
remain unchanged.
Distribution Record
Libra Invest Berhad
Master Prospectus
96
There was no income distribution for year 2011, 2012 and 2013.
Less
Interest income
Expenses
Distribution Date
2013
RM
2,317,363
(440,206)
1,877,157
Financial Year ended 30 September
2012
2011
RM
RM
258,651
18,247
(35,075)
(7,981)
223,576
10,266
26 Mac
25 Jun, 25 Sep
0.19 (26 Mac)
0.19 (25 Jun)
0.19 (25 Sep)
0.19 (26 Mac)
0.19 (25 Jun)
0.19 (25 Sep)
28 Dec, 28 Mac
26 June, 25 Sept
0.19 (28 Dec)
0.19 (28 Mac)
0.19 (26 June)
0.19 (25 Sept)
0.19 (28 Dec)
0.19 (28 Mac)
0.19 (26 June)
0.19 (25 Sept)
29 Mac, 28 Jun
28 Sept, 28 Dec
0.19 (29 Mac)
0.19 (28 Jun)
0.19 (28 Sept)
0.19 (28 Dec)
0.19 (29 Mac)
0.19 (28 Jun)
0.19 (28 Sept)
0.19 (28 Dec)
0.5176 (25 Mac)
0.5179 (24 Jun)
0.5219 (24 Sep)
0.5157 (26 Mac)
0.5178 (25 Jun)
0.5200 (25 Sep)
0.5057 (27 Dec)
0.5043 (27 Mac)
0.5051 (25 June)
0.5060 (24 Sept)
0.5038 (29 Dec)
0.5024 (28 Mac)
0.5033 (27 June)
0.5042 (27 Sept)
0.5057 (28 Mac)
0.5043 (27 Jun)
0.5051 (27 Sept)
0.5060 (28 Dec)
0.5038 (29 Mac)
0.5024 (28 Jun)
0.5033 (28 Sept)
0.5042 (29 Dec)
Distribution to Unit Holders for 2011, 2012 and 2013 was sourced from interest income. Distribution was
remain unchanged.
Libra Invest Berhad
Master Prospectus
97
Distribution Record
Income from Islamic money market
Realised gain on sale of Shariahcompliant investments
Less
2013
RM
5,235,447
2012
2011
RM
RM
830,082
1,696,683
6,932,130
(1,283,093)
5,649,037
-
3,623,467
1,114,325
5,567,874
(756,947)
4,810,927
13 Mar
3.00
3.00
-
29 Dec
4.13
4.13
0.6176(12 Mar)
-
0.6211 (28 Dec)
0.5876(13 Mar)
-
0.5800 (29 Dec)
Expenses
Net distribution
Distribution Date
from profit income, realised gain on sale of Shariah-compliant investments and previous year‟s realised gain.
Distribution was automatically reinvested into the Fund with no sales charge. The effect of distribution made will
reduce the NAV per Unit of the Fund right after the distribution, but the total wealth of the investors just before and
after distribution will remain unchanged.
Libra Amanah Saham Wanita (ASnita)
Libra Invest Berhad
Master Prospectus
98
Portfolio Turnover Ratio (PTR)
The following table reflects the Portfolio Turnover Ratio (PTR) of the Funds for the three (3) most recent financial
years.
Fund Name
2013
2012
2011
IncomeEXTRA
(times)
2.76
(times)
1.88
(times)
1.39
EquityEXTRA
1.51
2.09
3.68
BondEXTRA
1.93
1.04
1.77
MoneyEXTRA
2.47
1.25
1.13
VersatileEXTRA
2.03
1.22
0.72
DividendEXTRA
2.83
1.13
0.78
TacticalEXTRA
2.65
2.21
2.87
LCLAF
2.53
2.10
3.80
SyariahEXTRA
1.16
0.78
0.73
ASnita
1.31
2.11
3.45
ASnitaBOND
1.57
1.32
0.82
IncomeEXTRA, BondEXTRA, MoneyEXTRA and VersatileEXTRA have a higher PTR for the current year
compared to the previous financial year due to an increase in the average transactional value and decrease in the
average net asset value.
EquityEXTRA and ASnita have a lower PTR compared to the previous financial year due to decrease in the
average transactional value and an increase in the average net asset value.
DividendExtra, LCLAF, SyariahExtra and ASnita Bond have a higher PTR for the current year compared to the
previous financial year due to a higher percentage increase in the average transactional value compare to the
percentage increase in the average net asset value.
TacticalEXTRA have a higher PTR for the current year compared to the previous financial year due to a lower
percentage decrease in average transactional value compare to the percentage decrease in the average net asset
value.
Fund Name
LLF
LREF
2013
2012
2011
(times)
(times)
(times)
-
-
-
2.02
1.79
0.49
The LLF does not have PTR because all investments are in short-term cash deposits and LREF have a higher PTR
for the current year compare to the previous financial year due to a lower percentage decrease in average
transactional value compare to the percentage decrease in the average net asset value.
Libra Invest Berhad
Master Prospectus
Asset Allocation
2013
(%)
As at 31 December
2012
(%)
2011
(%)
IncomeEXTRA*
Unquoted fixed income securities
Quoted equity
Cash & others
37.44
57.65
4.91
26.43
44.74
28.83
39.15
21.65
39.20
EquityEXTRA
Quoted equities & equity-related securities
Cash & others
72.67
1.31
26.02
81.07
7.50
11.43
89.61
6.10
4.29
BondEXTRA
Quoted securities
Cash & others
92.43
7.57
78.02
21.98
88.54
11.46
MoneyEXTRA
Unquoted bonds
Unquoted commercial papers
Cash & others
28.52
55.58
15.90
33.01
34.85
32.14
21.19
47.55
31.26
VersatileEXTRA
Quoted equity & equity-related securities
Cash & others
61.22
12.41
26.37
50.53
11.29
38.18
50.80
8.26
40.94
DividendEXTRA
Cash & others
75.28
24.72
73.49
26.51
85.16
14.84
TacticalEXTRA
Cash & others
65.48
35.52
71.40
28.60
74.93
25.07
LCLAF
Cash & others
79.71
12.08
8.21
79.86
8.71
11.43
75.92
10.55
13.53
SyariahEXTRA
Quoted Shariah-compliant equities & equity-related
securities
Unquoted sukuk
Cash & Others
55.17
11.68
33.15
55.79
15.48
28.73
51.59
15.15
33.26
ASnita
Quoted Shariah-compliant equities & equity-related
securities
Cash & others
69.94
30.06
76.47
23.53
88.31
11.69
* Effective 16 August 2011, the Fund has adopted a new mandate and is now classified as a balanced fund.
99
Libra Invest Berhad
Master Prospectus
Asset Allocation
2013
(%)
ASnitaBOND
Islamic commercial paper
Unquoted sukuk
Cash & Others
LLF
Liquid assets including short-term deposits
LREF
Cash & others
0.85
73.07
26.08
As at 31 December
2012
(%)
94.59
5.41
2011
(%)
76.89
23.11
2013
(%)
As at 30 September
2012
(%)
100.00
100.00
100.00
84.63
15.37
58.20
41.80
20.09
79.91
Past performance of the Funds is not an indication of future performance.
2011
(%)
100
Libra Invest Berhad
Master Prospectus
101
10. HISTORICAL FINANCIAL HIGHLIGHTS OF THE FUNDS
Audited Financial Statement of the Funds
Total investment income
Less total expenditure
Net (loss)/ income before tax
Less taxation
Net (loss)/ income after tax
2013
(RM)
1,230,752
(1,584,608)
(353,856)
(98,595)
(452,451)
2012
2011
(RM)
(RM)
11,960,427
13,635,100
(1,456,083)
(1,056,704)
10,504,344
12,578,396
(20,277)
10,484,067
12,578,396
2013
(RM)
4,959,116
(664,316)
4,294,800
(14,754)
4,280,046
2012
2011
(RM)
(RM)
3,021,397
1,513,055
(645,936)
(1,230,688)
2,375,461
282,367
(50,953)
(45,438)
2,324,508
236,929
2013
(RM)
1,214,699
(788,365)
426,334
426,334
2012
2011
(RM)
(RM)
5,610,611
9,265,069
(883,761)
(1,098,399)
4,726,850
8,166,670
4,726,850
8,166,670
2013
(RM)
7,530,752
(1,172,457)
6,358,295
6,358,295
2012
2011
(RM)
(RM)
10,371,447
12,990,256
(1,518,576)
(2,048,681)
8,852,871
10,941,575
8,852,871
10,941,575
Net income before tax
Less taxation
Net income after tax
Less taxation
Less taxation
Libra Invest Berhad
Master Prospectus
102
Less taxation
2013
(RM)
610,530
(112,915)
497,615
(310)
497,305
Financial Year Ended 31 December
2012
2011
(RM)
(RM)
445,613
520,040
(186,420)
(202,491)
259,193
317,549
(1,567)
1,779
257,626
319,328
2013
(RM)
1,482,994
(326,420)
1,156,574
(12,060)
1,144,514
2012
2011
(RM)
(RM)
1,456,410
735,084
(227,595)
(178,018)
1,228,815
557,066
1,783
(10,385)
1,230,598
546,681
2013
(RM)
3,785,012
(937,067)
2,847,945
58
2,848,003
2012
2011
(RM)
(RM)
6,736,603
2,132,458
(1,280,198)
(1,653,063)
5,456,405
479,395
(25,103)
(36,782)
5,431,302
442,613
2013
(RM)
3,597,669
(1,160,581)
2,437,088
2,437,088
2012
2011
(RM)
(RM)
4,720,598
(1,138,121)
(809,736)
(1,061,764)
3,910,862
(2,199,885)
3,910,862
(2,199,885)
2013
(RM)
7,822,353
(440,206)
7,382,147
7,382,147
2012
2011
(RM)
(RM)
487,697
25,995
(35,075)
(7,981)
452,622
18,014
452,622
18,014
Less taxation
Less taxation
Total investment income / (loss)
Net income / (loss) before tax
Less taxation
Net income / (loss) after tax
Less taxation
Libra Invest Berhad
Master Prospectus
103
Total investment (loss)/ income
Net (loss)/ income before tax
Less taxation
Net (loss)/ income after tax
2013
2012
2011
(RM)
(RM)
(RM)
(241,883)
1,647,049
(941,077)
(254,084)
(403,332)
(174,430)
(495,967)
1,243,717
(1,115,507)
(194)
(496,161)
1,243,717
(1,115,507)
Total Shariah-compliant investment income
Less taxation
2013
(RM)
3,189,852
(428,730)
2,761,122
(37)
2,761,085
2012
2011
(RM)
(RM)
852,698
1,619,126
(403,712)
(407,691)
448,986
1,211,435
(3,402)
(3,918)
445,584
1,207,517
Net income / (loss) before tax
Less taxation
Net income / (loss) after tax
2013
(RM)
10,200,721
(1,369,938)
8,830,783
(15,526)
8,815,257
2012
2011
(RM)
(RM)
2,911,022
362,804
(1,425,539)
(1,784,884)
1,485,483
(1,422,080)
(6,655)
(54,830)
1,478,828
(1,476,910)
Less taxation
2013
(RM)
4,675,295
(1,283,093)
3,392,202
3,392,202
2012
2011
(RM)
(RM)
6,687,627
5,376,309
(1,106,257)
(756,947)
5,581,370
4,619,362
5,581,370
4,619,362
Libra Invest Berhad
Master Prospectus
104
As at 31 December
2012
2011
(RM)
(RM)
62,618,958
53,173,361
35,632,179
43,182,680
98,251,137
96,356,041
Total investments
Other assets
Total assets
2013
(RM)
70,255,532
14,806,054
85,061,586
Total liabilities excluding NAV attributable to Unit Holders
NAV attributable to Unit Holders
11,178,319
73,883,267
10,287,451
87,963,686
8,904,130
87,451,911
27,575,292
49,767,940
(3,459,965)
73,883,267
41,203,260
45,933,073
827,353
87,963,686
51,175,552
36,037,273
239,086
87,451,911
NAV attributable to Unit Holders is represented by:
Unit Holders‟ contribution
Realised reserves
Unrealised (deficits)/ reserves
As at 31 December
2012
2011
(RM)
(RM)
20,066,000
28,256,165
2,636,372
4,359,217
22,702,372
32,615,382
Total investments
Other assets
Total assets
2013
(RM)
27,673,833
10,141,715
37,815,548
408,195
37,407,353
48,131
22,654,241
3,092,863
29,522,519
26,285,398
8,636,095
2,485,860
37,407,353
15,812,332
6,133,707
708,202
22,654,241
25,005,118
4,232,408
284,993
29,522,519
Realised reserves
Unrealised reserves
As at 31 December
2012
2011
(RM)
(RM)
70,717,248
72,661,538
23,462,243
12,846,985
94,179,491
85,508,523
Total investments
Other assets
Total assets
2013
(RM)
48,435,080
7,741,489
56,176,569
3,773,025
52,403,544
3,536,848
90,642,643
3,441,278
82,067,245
40,925,940
15,194,488
(3,716,884)
52,403,544
79,591,373
12,519,019
(1,467,749)
90,642,643
71,943,007
10,336,633
(212,395)
82,067,245
Realised reserves
Unrealised deficits
Libra Invest Berhad
Master Prospectus
105
As at 31 December
2012
2011
(RM)
(RM)
120,042,238
200,185,340
56,939,871
91,160,202
176,982,109
291,345,542
Total investments
Other assets
Total assets
2013
(RM)
162,065,358
30,741,286
192,806,644
97,954
192,708,690
96,067
176,886,042
115,745
291,229,797
184,647,047
7,987,925
73,718
192,708,690
169,938,283
6,717,276
230,483
176,886,042
286,639,422
3,380,887
1,209,488
291,229,797
Realised reserves
Unrealised reserves
As at 31 December
2012
2011
(RM)
(RM)
3,247,604
4,914,142
2,033,114
3,429,567
5,280,718
8,343,709
Total investments
Other assets
Total assets
2013
(RM)
2,042,400
748,113
2,790,513
16,976
2,773,537
26,980
5,253,738
22,789
8,320,920
843,473
1,709,304
220,760
2,773,537
3,820,979
1,160,551
272,208
5,253,738
7,145,787
986,979
188,154
8,320,920
Realised reserves
Unrealised reserves
As at 31 December
2012
2011
(RM)
(RM)
7,172,584
8,057,310
2,607,160
1,884,555
9,779,744
9,941,865
Total investments
Other assets
Total assets
2013
(RM)
9,132,333
3,021,772
12,154,105
22,933
12,131,172
19,361
9,760,383
480,348
9,461,517
9,116,675
2,563,414
451,083
12,131,172
7,119,277
1,786,225
854,881
9,760,383
8,051,009
914,476
496,032
9,461,517
Realised reserves
Unrealised reserves
Libra Invest Berhad
Master Prospectus
106
As at 31 December
2012
2011
(RM)
(RM)
33,334,349
48,192,000
13,440,517
18,911,348
46,774,866
67,103,348
Total investments
Other assets
Total assets
2013
(RM)
25,396,116
12,868,528
38,264,644
61,951
38,202,693
86,607
46,688,259
2,790,067
64,313,281
18,733,304
18,156,272
1,313,177
38,202,693
30,066,873
14,180,838
2,440,548
46,688,259
53,123,197
10,978,020
212,064
64,313,281
Realised reserves
Unrealised reserves
As at 31 December
2012
2011
(RM)
(RM)
30,090,397
24,236,263
3,940,733
3,841,898
34,031,130
28,078,161
Total investments
Other assets
Total assets
2013
(RM)
37,425,347
3,893,931
41,319,278
549,552
40,769,726
56,481
33,974,649
51,507
28,026,654
37,569,311
1,792,003
1,408,412
40,769,726
33,211,322
(1,370,838)
2,134,165
33,974,649
31,174,189
(449,851)
(2,697,684)
28,026,654
Realised reserves / (deficits)
Unrealised reserves / (deficits)
As at 30 September
2012
(RM)
27,329,701
Total assets
2013
(RM)
182,979,660
212,478
182,767,182
9,489
27,320,212
3,753
225,707
176,982,292
5,784,890
182,767,182
27,040,312
279,900
27,320,212
174,853
50,854
225,707
Realised reserves
2011
(RM)
229,460
Libra Invest Berhad
Master Prospectus
107
As at 30 September
2012
2011
(RM)
(RM)
5,789,128
3,267,287
4,609,699
13,106,205
10,398,827
16,373,492
Total investments
Other assets
Total assets
2013
(RM)
6,604,461
1,219,004
7,823,465
20,180
7,803,285
452,716
9,946,111
107,109
16,266,383
8,171,236
(418,982)
51,031
7,803,285
9,817,901
6,035
122,175
9,946,111
17,381,890
(603,899)
(511,608)
16,266,383
Realised reserves / (deficits)
2013
(RM)
As at 31 December
2012
(RM)
2011
(RM)
Total investments – Quoted Shariah-compliant securities &
Unquoted sukuk
Other assets
Total assets
14,078,283
7,119,465
21,197,748
13,848,115
5,617,028
19,465,143
13,347,106
6,703,769
20,050,875
138,082
21,059,666
33,099
19,432,044
49,881
20,000,994
13,604,445
6,162,584
1,292,637
21,059,666
14,737,908
3,948,547
745,589
19,432,044
15,752,442
3,377,959
870,593
20,000,994
Realised reserves
Unrealised reserves
As at 31 December
2012
2011
(RM)
(RM)
109,367,738
59,987,882
6,454,297
18,096,583
115,822,035
78,084,465
Total investments – Unquoted sukuk
Other assets
Total assets
2013
(RM)
86,085,097
31,022,517
117,107,614
656,071
116,451,543
201,528
115,620,507
69,461
78,015,004
111,150,410
5,462,567
(161,434)
116,451,543
108,062,539
6,637,630
920,338
115,620,507
76,038,406
866,336
1,110,262
78,015,004
Realised reserves
Unrealised reserves/ (deficits)
Libra Invest Berhad
Master Prospectus
108
Libra Amanah Saham Wanita Fund
2013
(RM)
As at 31 December
2012
(RM)
2011
(RM)
Total investments – Quoted and Unquoted Shariah-compliant
investments
Other assets
Total assets
42,444,288
19,234,185
61,678,473
39,788,781
12,334,058
52,122,839
47,589,640
6,419,368
54,009,008
990,423
60,688,050
90,593
52,032,246
120,940
53,888,068
11,694,909
45,189,990
3,803,151
60,688,050
11,854,362
39,996,456
181,428
52,032,246
15,189,012
39,159,997
(460,941)
53,888,068
Realised reserves
Note: The Shariah adviser confirms that the investment portfolio of Libra ASnitaBOND Fund, Libra Amanah Saham
Wanita Fund and Libra SyariahEXTRA Fund comprise securities which have been classified as Shariah-compliant
by the SACSC. As for the securities which are not certified by the SACSC, they have reviewed the said securities
and opined that these securities are designated as Shariah-compliant.
Total Annual Expenses Incurred by the Funds in the Preceding Financial Year/Period
Financial year ended 31 December 2013.
Fund Name
Management Fee
Trustee Fee
Fund Expenses
Total Annual
Expenses
(RM)
(%) *
(RM)
(%) *
(RM)
(%) *
(RM)
(%) *
IncomeEXTRA
826,877
1.05
63,169
0.08
694,562
0.87
1,584,608
2.00
EquityEXTRA
450,077
1.65
27,277
0.10
186,962
0.69
664,316
2.44
BondEXTRA
690,725
1.00
48,351
0.07
49,289
0.07
788,365
1.14
1,018,881
0.50
142,643
0.07
10,933
0.01
1,172,457
0.58
VersatileEXTRA
62,879
1.50
2,934
0.07
47,102
1.12
112,915
2.69
DividendEXTRA
159,386
1.50
7,438
0.07
159,596
1.50
326,420
3.07
TacticalEXTRA
561,858
1.50
26,220
0.07
0.93
937,067
2.50
LCLAF
687,017
1.70
32,330
0.08
348,989
441,234
1.09
1,160,581
2.87
SyariahEXTRA
306,044
1.50
0.06
110,444
0.54
428,730
2.10
1.50
12,242
55,423
0.10
483,170
0.87
1,369,938
2.47
1.00
83,249
0.07
10,565
0.01
1,283,093
1.08
MoneyEXTRA
ASnita
ASnitaBOND
831,345
1,189,279
Financial year ended 30 September 2013
Fund Name
Management Fee
(RM)
LLF
333,770
(%) *
0.14
LREF
153,335
1.75
(RM)
96,614
(%) *
0.04
(RM)
9,822
(%) *
0.004
Total Annual
Expenses
(RM)
(%) *
440,206
0.18
7,010
0.08
93,739
1.07
254,084
Trustee Fee
Fund Expenses
* reflected as a percentage of average NAV for the financial year/period.
2.90
Libra Invest Berhad
Master Prospectus
109
The following table reflects the management expense ratio (MER) of the Funds for the three (3) most recent
financial years.
Fund Name
2013
2012
2011
IncomeEXTRA
(%)
2.00
(%)
1.69
(%)
0.93
EquityEXTRA
2.44
2.50
3.23
BondEXTRA
1.14
1.12
1.03
MoneyEXTRA
0.58
0.58
0.57
VersatileEXTRA
2.69
2.75
2.26
DividendEXTRA
3.07
2.27
2.14
TacticalEXTRA
2.50
2.31
2.52
LCLAF
2.87
2.79
3.13
SyariahEXTRA
2.10
2.05
2.03
ASnita
2.47
2.65
3.06
ASnitaBOND
1.08
1.08
1.00
IncomeEXTRA have a higher MER for the current year compared to the previous financial year due to an increase
in expenses and decrease in the average net asset value.
EquityEXTRA has a lower MER for the current year compared to the previous financial year due to a lower
percentage increase in expenses compared to the percentage increased in the average net asset value.
BondExtra and TacticalExtra have a higher MER for the current year compared to the previous financial year due to
a lower percentage decrease in expenses compared to the percentage decrease in the average net asset value.
VersatileExtra has a lower MER for the current year compared to the previous financial year due to a lower
percentage decrease in expenses compared to the percentage decrease in the average net asset value.
DividendExtra, LCLAF and SyariahExtra have a higher MER for the current year compared to the previous financial
year due to a higher percentage increase in expenses compared to the percentage increase in the average net
asset value.
ASnita has a lower MER for the current year compared to the previous financial year due to a decrease in the
expenses and an increase in the average net asset value
MoneyEXTRA and ASnitaBond have a fairly consistent MER as compared to previous financial year.
Fund Name
2013
2012
2011
LLF
(%)
0.18
(%)
0.23
(%)
0.77
LREF
2.15
2.71
1.02
LLF has a lower MER for the current year compared to previous financial year due to a lower percentage increase
in the expenses compared to the percentage increase in the average net asset value.
LREF has a lower MER for the current year compared to previous financial year due to a higher percentage
decrease in expenses compared to the percentage decrease in the average net asset value.
Past performance of the Funds is not an indication of future performance.
The audited financial statements of the Funds are disclosed in the Fund’s annual report.
The Funds' annual report are available upon request.
Libra Invest Berhad
Master Prospectus
110
11. FEES, CHARGES and EXPENSES OF THE FUNDS
Charges Directly Incurred
(a)
Sales Charge
This is the maximum sales charge permitted by each distribution channels.
Fund Name
Non-EPF Member’s Investment Scheme
EPF Member’s Investment Scheme
IncomeEXTRA
5*
N/A
EquityEXTRA
5*
3
BondEXTRA
1
N/A
MoneyEXTRA
Nil
N/A
VersatileEXTRA
5*
N/A
DividendEXTRA
5*
3
TacticalEXTRA
5*
3
LCLAF
5*
N/A
LLF
Nil
N/A
LREF
5*
N/A
SyariahEXTRA
5*
N/A
ASnita
5*
N/A
ASnitaBOND
5*
3
1
1
Standalone ASnitaBond
*The sales charge is negotiable.
The sales charge payable for investments in a Fund is equivalent to the specified percentage of the NAV per Unit of
the respective Funds. There is no sales charge imposed for distribution of income reinvested for all the Funds.
Please refer to page 115 for an illustration on the calculation of the sales charge.
EPF Member’s Investment Schemes
As of 11th March 2013, EPF members may invest in the following EPF-approved Funds:
ASnitaBOND, EquityEXTRA, TacticalEXTRA and DividendEXTRA. The list may be revised by EPF from time to
time.
The above is only applicable to investors who purchase Units via the EPF member‟s investment scheme and is
subject to changes by EPF from time to time. Please refer to the Manager for the latest list of Funds approved by
EPF for investment.
(b)
Repurchase Charge
Nil
(c)
Dilution Fee/Transaction Cost
Nil
Libra Invest Berhad
Master Prospectus
(d)
Transfer Fee
Nil
(e)
Other Charges
111
There are no other charges (except charges levied by banks on remittance of money) payable directly by investors
when purchasing or liquidating units.
(f)
Switching Fee
No switching fee is imposed on all switches between equity Funds and non-equity Funds under the oneINVEST
strategy. This is to facilitate profit taking (if any), i.e. from holding in equity Funds and reinvestment in fixed income
Funds. Switching between the Funds will be at NAV per Unit to NAV per Unit. All switches are subject to availability
of Units. Switching from Shariah-compliant Funds to a conventional Fund is not encouraged especially for Muslim
Unit Holders.
(a)
The Management Company is entitled to an annual management fee based on the NAV of the Fund, which is
accrued daily.
The annual management fee for the following Funds are as follows:
Fund Name
IncomeEXTRA
1.15% p.a. of the Fund‟s NAV
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
TacticalEXTRA
LCLAF
LLF
LREF
SyariahEXTRA
ASnita
ASnitaBOND
Please refer to page 114 for an illustration on the calculation of the management fee.
Libra Invest Berhad
Master Prospectus
(b)
112
Annual Trustee Fee
The annual trustee fee is based on the NAV of the Fund accrued daily and paid monthly. The rates are:
Fund Name
Annual Trustee Fee
IncomeEXTRA
0.08% p.a. of the Fund‟s NAV, subject to a minimum of RM30,000 p.a.
EquityEXTRA
BondEXTRA
MoneyEXTRA
VersatileEXTRA
DividendEXTRA
0.07% p.a. of the Fund‟s NAV (excluding foreign custodian fee and charges)
TacticalEXTRA
LCLAF
LLF
LREF
0.08% p.a. of the Fund‟s NAV, subject to a minimum of RM18,000 per annum (excluding
foreign custodian fees and charges)
SyariahEXTRA
Asnita
ASnitaBOND
Please refer to page 114 for an illustration on the calculation of the trustee fee.
Fees or Charges of the Advisor to the Management Company
The advisory fee payable to the Shariah adviser will be fully borne by the Management Company.
Custodian Fee
The custodian fee payable is as follows:
IncomeEXTRA

invests in.

are made overseas.
VersatileEXTRA

invests in.

are made overseas.
Libra Invest Berhad
Master Prospectus
113
DividendEXTRA, LCLAF and LREF

The custodian fee payable is subject to an agreement with the custodian and will depend on the number of
transaction carried out and the place at which such transaction are effected. The custodian fee will be paid to
the custodian, for investments which are made overseas.
Rebate & Soft Commissions
The Management Company will retain soft commissions received from stockbrokers, provided these are of
demonstrable benefit to the Unit Holders. The soft commissions may take the form of goods and services such as
data and quotation services, computer software incidental to the management of the Funds and investment related
talks and publications. Rebates, if any, will be directed to the account of the respective Funds.
Other Expenses to Be Paid Out Of the Fund
Apart from the fees payable to the Management Company and the Trustee as described above, only fees and
expenses that are directly related to the operations of the Fund may be paid out of the Fund. These include the
following:
 auditor and other professional fees;
 tax and duties imposed by the authorities;
 sub-custodian fee or charges (where the custodial function is delegated by the Trustee);
 commissions paid to brokers in effecting the investment transactions of the Fund;
 cost of convening meetings of Unit Holders other than those incurred by or for the benefit of the Management
Company or Trustee;
 cost for modification of Deed save where such modification is for the benefit of the Management Company
and/or the Trustee;
 cost of production and distribution of reports of the Fund, tax vouchers, dividend warrants and notices to Unit
Holders; and
 other fees/expenses permitted in the Deed.
Where the Management Company or the Trustee have incurred such expenses on behalf of the Fund, it shall be
duly reimbursed by the Fund.
Other Fees Payable Indirectly by an Investor
Nil
There are fees and charges involved and investors are advised to consider them before investing in the
Funds.
Libra Invest Berhad
Master Prospectus
114
12. TRANSACTION INFORMATION
Pricing
Computation of NAV
The NAV of the Fund is calculated at the end of each Business Day and is defined as the total value of the Fund‟s
investment less any liabilities at that valuation point. Where applicable, investment income, interest payable, fees
and other liabilities (including management fee) will be accrued daily in arriving at the NAV of the Fund.
NAV per Unit = NAV of the Fund / Number of Units in circulation
Illustration (based on TacticalEXTRA)
NAV before deducting management fee and trustee fee for the day
RM
20,000,000.00
Less:
Management fee for the day (1.50% per annum) 20,000,000 x 1.50% / 365
RM
821.92
Less:
Trustee fee for the day (0.07% per annum) 20,000,000 x 0.07% / 365
NAV
(a)
Units in circulation
(b)
RM
38.36
RM
19,999,139.72
40,000,000.00
NAV per Unit (a) / (b)
RM
0.499978493
NAV per Unit (rounded up to four decimal places)
RM
0.5000
Pricing Policy

Single Pricing
Selling of Units by the Management Company (i.e. when you purchase Units) and repurchase of Units by the
Management Company (i.e. when you liquidate your Units) will be carried out at NAV per Unit (the actual value of a
Unit). The sales charge or repurchase charge (if any) would be computed separately based on your investment or
liquidation amount.

Forward Pricing
The single price for investment or liquidation of Units shall be the daily NAV per Unit at the next valuation point after
the Management Company receives the investment or liquidation application (i.e. forward prices are used).

Incorrect Pricing Policy
Incorrect pricing refers to pricing discrepancies in the calculation of NAV of the Fund. Should there be any incorrect
pricing, the Management Company will take immediate remedial action to rectify any incorrect pricing at the Fund
level. The Management Company‟s remedial action must extend to the reimbursement of money if the error is at or
above the threshold of 0.5% of the NAV per Unit, unless the total impact on an individual account is less than
RM10.00 in absolute amount, of which no reimbursement of money is required as the reprocessing costs may be
greater than the amount of the adjustment. The Management Company is nevertheless allowed to pay any amount
to the Unit Holders or former Unit Holders even though it is less than 0.5% of the NAV per Unit or RM10.00.
Libra Invest Berhad
Master Prospectus
115
How Is the Selling Price Computed
Investors may invest in Units of the Fund on any Business Day.
The number of Units invested is determined by dividing the investment amount (excluding sales charge) with the
NAV per Unit at the next valuation point after the Management Company receives the investment application,
rounded to the nearest two decimal places.
Illustration : Determining Investment Amount & Units Entitlement
Add :
Investment amount
RM
10,000.00
Sales charge (5.00%)
RM
500.00
Total amount payable by investor
RM
10,500.00
Investment amount
RM
10,000.00
NAV per Unit
RM
0.5000
The following day, the price of a Unit i.e., the NAV per Unit, will be published in the
Manager‟s website. For example, if the NAV per Unit was RM0.5000 the number of
Units invested would be:
Divide :
Number of Units invested
20,000.00
How Is the Liquidation Amount Computed
Investors may liquidate their investment on any Business Day.
The liquidation amount is calculated by multiplying the NAV per Unit at the next valuation point after the
Management Company receives the liquidation application, with the number of units held.
Illustration : Determining Liquidation Amount
Number of Units to be liquidated
Multiply :
Less :
10,000.00
For example, if the NAV per Unit calculated at the next valuation point was
RM0.5050, the liquidation amount would be:
NAV per Unit
RM
0.5050
Liquidation amount
RM
5,050.00
Repurchase charge (Nil)
Net amount payable to investor
NIL
RM
5,050.00
The selling and repurchase prices including the NAV per Unit of the Funds are available at our website at
www.librainvest.com.
Libra Invest Berhad
Master Prospectus
Switching of units through
Entitlement
oneINVEST
/
oneINVEST
116
Islamic – Determining Investment Amount and Units
Investors investing through oneINVEST / oneINVEST Islamic may exercise unlimited free switches between
equity Funds and non-equity Funds on any Business Day within the calendar year.
Example : Switching from ASnitaBOND to EquityEXTRA
Step 1 : To determine the switching amount of ASnitaBOND
The switching amount is determined by multiplying the NAV per Unit of ASnitaBOND at the end of the Business
Day with the number of units to be switched.
Step 2 : To determine the number of units in EquityEXTRA
The number of units is calculated by dividing the switching amount with the NAV per Unit of EquityEXTRA at the
end of the Business Day and rounded to the nearest two decimal places.
Illustration : Determining the Switching Amount
Assuming an investor wishes to switch 20,000 units in
ASnitaBOND to EquityEXTRA:
Units in ASnitaBOND to be switched out
Multiply:
Divide:
20,000.00
NAV per Unit of ASnitaBOND
RM
0.5862
Switching amount
RM
11,724.00
NAV per Unit of EquityEXTRA
RM
0.5233
AsnitaBOND
EquityEXTRA
Number of units in EquityEXTRA
22,403.98
Therefore:
Units before switch
Units switch (out) / in
Units after switch
20,000.00
0.00
(20,000.00)
22,403.98
0.00
22,403.98
Transaction Details
Who Can Invest

Local and foreign individuals, investing in single or joint names (joint-holders). Persons under the age of 18 are
to jointly hold the investment with an adult.
Corporate entities, trusts, co-operatives and foundations.

How can I Purchase or Liquidate an Investment?
Investments can be purchased or liquidated at the Management Company‟s office in Kuala Lumpur or at our
authorised distributors or at our Nationwide Investor Care & Service Centres after completing an application form.
Application to invest must be accompanied by either a copy of the applicant‟s identity card, passport or other
identification.
Where can I obtain an Application Form?
The Management Company‟s office in Kuala Lumpur or at our authorised distributors or at our Nationwide Investor
Care & Service Centres in the following states:


Pulau Pinang
Perak


Melaka
Negeri Sembilan
Please refer to page 150 for full details.


Kelantan
Johor


Sarawak
Sabah
Libra Invest Berhad
Master Prospectus
117
How do I pay for an Investment?



By way of a standing instruction, subject to the rules and regulations of the banks.
By a crossed cheque, banker‟s draft, money order or cashier‟ order made payable to Libra Invest Berhad.
By depositing into any of the Management Company‟s bank accounts in the following states:
Maybank:
Branch
A/C. No
Kuala Lumpur
◊ Ampang Park
Pulau Pinang
Johor Bahru
514057-646827
507068-314127
501123-131150
Branch
A/C. No
Kota Kinabalu
Kuching
Kota Bahru
510107-116979
511113-431474
503015-226636
Standard Chartered Bank:
Branch
A/C. No
Branch
A/C.No
Kuala Lumpur
Pulau Pinang
Johor Bahru
312-1-4359833-1
407-1-5668419-3
388-1-0018931-6
Kota Kinabalu
Kuching
390-1-5662987-7
420-1-5659984-6
Please note that for the purpose of investor‟s protection and risk management, no cash shall be accepted by any of
the Management Company‟s representatives or staff.
Investors are advised not to make payment in cash when purchasing units of a Fund via any institutional/
retail agent.
How to Liquidate My Investment




For all Funds (except MoneyEXTRA Fund), Units may be liquidated on any Business Day by completing a
liquidation form. In the case of MoneyEXTRA Fund, liquidation notice must be given to the Management
Company one (1) Business Day prior to the liquidation (i.e. T-1 day).
For a transaction to take effect on the same day, the liquidation form must reach the Management Company
on or before 3.30 p.m.
The liquidation of Units will be priced at NAV per Unit calculated at the next valuation point and payment will
be made within ten (10) calendar days upon receipt of the duly completed original liquidation form by the
Management Company. In the case of MoneyEXTRA and LLF, the Management Company will use best
efforts to make payment on the next Business Day (T+1 day).
There is no limit as to frequency of liquidation transactions.
Minimum Transaction Details for each Fund
The minimum transaction details for each Fund are stipulated in the table below:
Minimum
Minimum
Fund name
initial
Minimum additional investment
liquidation
investment
Regular
Non-regular
(RM)
(Units)
(RM)
(RM)
IncomeEXTRA
5,000.00
200.00
1,000.00
2,000
Minimum
transfer
Minimum
balance
(Units)
(Units)
5,000
5,000
EquityEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
BondEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
MoneyEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
VersatileEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
DividendEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
TacticalEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
LCLAF
5,000.00
200.00
1,000.00
2,000
5,000
5,000
100,000.00
Nil
50,000.00
10,000
5,000
5,000
LREF
5,000.00
200.00
1,000.00
2,000
5,000
5,000
SyariahEXTRA
5,000.00
200.00
1,000.00
2,000
5,000
5,000
ASnita
5,000.00
200.00
1,000.00
2,000
5,000
5,000
ASnitaBOND
5,000.00
200.00
1,000.00
2,000
5,000
5,000
LLF
Libra Invest Berhad
Master Prospectus
118
Transfer Facility
Transfer between an individual account and a corporate account is not permitted.
Switching Facility
If you invest through oneINVEST / oneINVEST Islamic, * there is no switching fee imposed on switches made
between equity Funds and non-equity Funds. This is to facilitate profit taking (if any), i.e. from holding in equity
Funds and reinvestment in fixed income Funds. Switching between Funds will be at NAV per Unit to NAV per Unit.
All switches are subject to availability of units. Switching from Shariah-compliant Funds to a conventional Fund is
not encouraged especially for Muslim Unit Holders.
*For the term of this Master Prospectus, switching facility is unlimited for Funds under the
oneINVEST
/
oneINVEST Islamic.
Minimum Switching
Minimum switching under the oneINVEST /
Management Company‟s discretion.
oneINVEST
Islamic is 5,000 units or such other limit at the
For the term of this Master Prospectus, the minimum transaction size specified herein may be varied by
the Management Company at its absolute discretion.
EPF Members’ Investment Scheme
EPF investor may withdraw from their EPF Account 1, to be invested in any of the EPF approved Funds (as per
requirements of the EPF Members‟ Investment Scheme). To apply for withdrawal, investors are required to also
complete a Borang KWSP 9N (AHL) for each application for withdrawal to invest via the EPF Members‟ Investment
Scheme.
Cooling-off Policy
If you are an investor investing in any funds managed by the Management Company for the first time, there is a
Cooling-off period of six (6) Business Days commencing from the date of receipt of the application by the
Management Company. You will obtain a full refund of your net investment amount and the sales charge (if
applicable) within ten (10) calendar days from the date we receive your notification to exercise this right.
The cooling-off right is only given to an investor, other than those listed below, who is investing in any funds
managed by the Management Company for the first time:



a corporation or institution;
a staff of the Management Company; and
a person registered with a body approved by the SC to deal in unit trusts.
This Cooling-off right is not applicable for your subsequent investments.
Illustration : Determining The Cooling-off Refund
Initial investment amount
Add: Sales charge (5%)
Total amount paid by investor
(RM)
10,000.00
500.00
10,500.00
The investor exercised the Cooling-off Right and notified the Management Company within six (6) Business Days
(Cooling-off Period).
Net amount payable to investor
10,500.00
Libra Invest Berhad
Master Prospectus
119
What Are the Important Points to Note before Investment

Applications receive by the Management Company before 3.30 p.m., on any Business Day will have the Units
issued at the Fund‟s NAV per Unit calculated at the end of that particular Business Day (i.e. forward pricing).

The Management Company reserves the right to accept or reject any application for Units if the information is
incomplete or if not accompanied by the required documents, or is not signed by authorised investors or where
there are any other reasonable grounds to reject it. Unsuccessful applicants will be notified and are entitled to
a full refund.
Anti-Money Laundering Policy
In compliance with the Anti-Money Laundering and Anti-Terrorism Financing Act 2001, the Management Company
will conduct a customer due diligence prior to opening an account as and when necessary to help detect any money
laundering activities. The Management Company is under an obligation to report to BNM should it suspect such
activities.
Distribution Policy and Reinvestment Policy
It is the intention of the Management Company to declare distribution of income. The amount of income to be
distributed will vary from period to period, depending on interest rates, market conditions, the performance and the
objective of the Fund. Income distribution may be made out of realised capital gains, net profit from Islamic deposit,
Islamic money market, net dividend income and other income received by the Fund.
It is also the Management Company‟s policy to automatically reinvest declared income distribution into additional
Units in the Fund at the end of the distribution day (at ex-distribution price) with no sales charge. For Unit Holders in
MoneyEXTRA, liquidation notice of one (1) Business Day prior to liquidation must be given to the Management
Company. Investors, who prefer to receive their income distributions in the form of cash payouts, may liquidate the
reinvested units arising from distribution of income on any Business Day.
Liquidation Reinvestment Policy
Cheques for payment of liquidation requests which remain unclaimed for six (6) months will at the Management
Company‟s absolute discretion be reinvested into additional Units of the Fund with no sales charge.
Unpresented cheques for payment of liquidation requests, if not reinvested shall be dealt with in accordance with
the provisions of the Unclaimed Moneys Act, 1965.
Libra Invest Berhad
Master Prospectus
120
13. THE MANAGEMENT COMPANY: LIBRA INVEST BERHAD
Corporate Profile of the Management Company
LIB was incorporated on 27 September 1995 and is licensed by the Securities Commission of Malaysia to
undertake the regulated activities of fund management and distribution of unit trusts. It is a member of the ECM
Libra Financial Group Berhad, a company listed on Bursa Malaysia.
As at 7 February 2014, LIB manages thirteen (13) unit trust funds, seven (7) wholesale funds and privately
managed funds with a total fund size of RM1.842 billion. LIB‟s clients include pension funds, public listed
companies, state funds, high net worth individuals and retail investors.
The unit trust funds managed by LIB are:
Fund Name
Fund Category/Type
Inception Date
Designated fund manager
IncomeEXTRA
Balance/Income and Growth
10 September 1999
EquityEXTRA
Equity/Growth
10 September 1999
Jason Lee Wei Chung/
Mohd Fadzil bin Mohamed
Jason Lee Wei Chung
BondEXTRA
Bond/Growth
8 October 2002
MoneyEXTRA
VersatileEXTRA
8 October 2002
28 October 2002
Jason Lee Wei Chung
DividendEXTRA
Bond/Income
Balanced/Growth (and to a
lesser extent income)
Equity/Income
18 March 2005
Jason Lee Wei Chung
TacticalEXTRA
Equity/Growth
18 March 2005
Jason Lee Wei Chung
LCLAF
Equity/Growth
18 July 2007
Jason Lee Wei Chung
LLF
Money Market/Income
18 February 2009
LREF
Equity/Capital Growth
Balanced (Shariah)/Growth (and
to a lesser extent income)
18 March 2011
Jason Lee Wei Chung
12 March 1996
Jason Lee Wei Chung
Unit Trust Funds
SyariahEXTRA
ASnita
Equity (Shariah)/Growth (and to
a lesser extent income)
4 May 1998
Jason Lee Wei Chung
ASnitaBOND
Bond (Shariah)/Income
18 March 2005
Staff Strength
As at 7 February 2014, LIB is backed by a strong team of 70 executives and 11 non-executive staff and has ample
financial and human resources with the necessary qualification and experiences to undertake the management
activity of the unit trust funds and private funds portfolio.
Libra Invest Berhad
Master Prospectus
121
Summary of Financial Position
Past performance of LIB based on the unaudited accounts and audited accounts for the last three financial years
ended 31 January:
2014
2013
2012
(RM’000)
(RM’000)
(RM’000)
(unaudited)
Paid-up Share Capital
6,500
6,500
6,500
Shareholders‟ Funds
13,008
12,477
10,841
Operating Revenue
12,762
13,062
12,328
Pre-Tax Profit
683
2,410
2,306
After Tax Profit
539
1,812
1,804
Past performance of LIB based on the unaudited accounts and audited accounts for the last three financial years
ended 31 January:2014
2013
2012
(sen)
(sen)
(sen)
(unaudited)
Net Earnings Per share
8
29
28
Net Dividend Per share
30
Our Duties and Responsibilities
LIB is engaged in the business of managing, administering, marketing and distributing unit trust funds. Our main
duties are:



to manage and administer the Funds in a proper and efficient manner in accordance with the respective
Deeds of the Funds, the Guidelines and securities laws;
acceptable and efficacious business practice within the unit trust industry; and
the internal controls and policies in place at the Management Company.
As at 7 February 2014, save for the suit disclosed herein below, the Manager is not engaged in any material
litigation as plaintiff or defendant and the Manager is not aware of any proceedings, pending or threatened or of any
facts likely to give rise to any proceedings which might materially and adversely affect its financial position or
business.
In 2005, LIB co-initiated a suit with other bondholders against a bond issuer (Pesaka Astana (M) Sdn Bhd) and 11
co-defendants for failing to meet payment obligations. The High Court and Court of Appeal delivered judgement in
favour of LIB and the other bondholders. Two of the appellants filed an appeal to the Federal Court. As at
7 February 2014, the matter is still pending decision from the Federal Court.
Roles and Functions of the Directors
The board of directors of the Management Company play a part in the affairs of the Management Company and the
funds under management. The board meets once every quarter to receive recommendations and reports on
investment activities from the investment committee of the Funds and the senior representatives of the
Management Company. There are five (5) directors and one (1) alternate director appointed to the board of
directors of LIB.
Name(s)
Appointment Date
Datuk Kamarudin bin Md Ali
Designation (Independent / NonIndependent)
Chairman & independent director
Khairudin bin Ibrahim
Independent director
21 April 2003
Mahadzir bin Azizan
Independent director
25 April 2007
Gareth Lim Tze Xiang
Non-independent non-executive director
7 June 2012
Chin Jon Wei
Alternate director to Mr Gareth Lim Tze Xiang
5 September 2012
Non-independent executive director
1 February 2013
8 May 2007
Libra Invest Berhad
Master Prospectus
122
Roles and Functions of the Investment Committee
The investment committee is responsible for the Fund‟s investment policies and guidelines, and shall review and
approve the investment strategies undertaken by the fund managers of the Fund. Investment committee meetings
are held quarterly or more frequently if required.
The investment committee comprises three (3) independent members and three (3) non-independent members:
Name
Designation (Independent / non-independent)
Mahadzir bin Azizan
Chairman & independent member
Independent member
Independent member
Non-independent member
Azlin binti Arshad
The dates of appointment of the members of the investment committees of the Funds are as follows:
Fund Name
Mahadzir
bin Azizan
Khairudin
bin Ibrahim
Gareth Lim
Tze Xiang
9 May 07
2 May 03
2 May 03
Datuk
Kamarudin
bin Md Ali
9 May 07
9 May 07
IncomeEXTRA
9 May 07
EquityEXTRA
9 May 07
2 May 03
9 May 07
MoneyEXTRA
9 May 07
2 May 03
9 May 07
VersatileEXTRA
9 May 07
2 May 03
DividendEXTRA
9 May 07
BondEXTRA
2 Jul 12
Mohd Fadzil
bin
Mohamed
1 Feb 13
Azlin binti
Arshad
19 Sept 13
2 Jul 12
1 Feb 13
19 Sept 13
2 Jul 12
1 Feb 13
19 Sept 13
2 Jul 12
1 Feb 13
19 Sept 13
9 May 07
2 Jul 12
1 Feb 13
19 Sept 13
1 Mac 05
9 May 07
2 Jul 12
1 Feb 13
19 Sept 13
2 Jul 12
1 Feb 13
1 Feb 13
19 Sept 13
19 Sept 13
19 Sept 13
19 Sept 13
TacticalEXTRA
9 May 07
1 Mac 05
9 May 07
LCLAF
5 June 07
5 June 07
5 June 07
2 Jul 12
LREF
9 Aug 10
9 Aug 10
9 Aug 10
2 Jul 12
LLF
22 Jan 09
22 Jan 09
22 Jan 09
2 Jul 12
1 Feb 13
1 Feb 13
SyariahEXTRA
9 May 07
17 Sept 02
9 May 07
2 Jul 12
1 Feb 13
19 Sept 13
ASnita
9 May 07
2 May 03
9 May 07
2 Jul 12
1 Feb 13
19 Sept 13
ASnitaBOND
9 May 07
1 Mac 05
9 May 07
2 Jul 12
1 Feb 13
19 Sept 13
The Board of Directors and the Investment Committee Members
Name:
Position:
Chairman of the board of directors, independent director & independent investment
committee member
Qualification:
Bachelor of Science (Hons) Mechanical Engineering (University of Strathclyde, Glasgow),
Masters in Science (Engineering) (University of Birmingham, UK), Certificate Course in
Finance and Budgeting (University of Pittsburgh, America) and Post Graduate course (Royal
College of Defense Studies, UK)
Experience:
He served the Royal Malaysia Police (RMP) in various positions for more than thirty (30)
years with his last appointment as Director of Management before retiring in 2006. He has
experience in logistics and finance, human resources management, development and
training.
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123
Name:
Position:
Independent director & independent investment committee member
Qualification:
Degree in Accounting (Hons) (Universiti Kebangsaan Malaysia), Member of the Malaysian
Institute of Accountants (MIA) and Certified Practising Accountant (Australia)
Experience:
He is the partner of Afrizan Tarmili Khairul Azhar (Chartered Accountants). He was
previously from a big 4 international audit firm where he managed a portfolio of clients.
Currently, he sits in the Financial Statements Review Committee of the MIA, Public
Practice Committee of CPA Australia and in working groups of Malaysian Accounting
Standards Board (MASB).
Name:
Mahadzir bin Azizan
Position:
Independent director & independent investment committee member
Qualification:
Barrister-At-Law (Lincoln‟s Inn, London)
Experience:
He has more than twenty-five (25) years experience in corporate legal matters. He is
currently a member of the investment committee of AmanahRaya-REIT Managers Sdn Bhd
and director of ECM Libra Financial Group Berhad and Syarikat Takaful Malaysia Berhad.
Name:
Position:
Non-independent director & non-independent investment committee member
Qualification:
Bachelor of Arts in Economics (St. Catharine‟s College, University of Cambridge, UK)
Experience:
He began his career as part of Morgan Stanley‟s mergers and acquisition practice in
Singapore. He was a pioneer member of the management teams at Tune Hotels and
AirAsia X where he was responsible for the establishment and development of each
company. He joined Plato Capital Limited in September 2009 as Head of Investments,
responsible for the formulation and implementation of overall investment strategy and is
presently the Chief Executive Officer of Plato Capital Limited.
Name:
Chin Jon Wei
Position:
Alternate director to Mr Gareth Lim Tze Xiang
Qualification:
Member of the Institute of Chartered Accountants in England and Wales (ICAEW) and a
Member of the Malaysian Institute of Accountants (MIA)
Experience:
He served his articleship in the audit department of a mid-tier accounting firm in Kuala
Lumpur where he led teams of junior executives in the audit of both listed and ownermanaged companies. He was subsequently an equity analyst at UOB Kay Hian covering
mid to large cap listed plantation companies within the South East Asian region. He joined
the investment division of Plato Capital Limited in 2011 and currently the Vice President of
the said division.
Name:
Position:
Chief Executive Officer, non-independent executive director & non-independent investment
committee member
Qualification:
Bachelor of Economics and Social Studies in Accounting and Finance (University of
Aberstwyth, Wales, UK)
Experience:
He has more than sixteen (16) years of experience in the financial services sector in
various capacity including economics and fixed income research, money market and bond
fund management. He joined LIB in 1997 and left in 2001 to widen his experience with
other asset management companies. He re-joined LIB in 2007. He was a fixed income fund
manager with Alliance Capital Asset Management Sdn Bhd prior to his return to LIB.
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Name:
Azlin binti Arshad
Position:
Non-independent investment committee member
Qualification:
Bachelor‟s Degree in Accounting & Finance (Hons), University of Glamorgan, South Wales,
The United Kingdom
Experience:
She has had extensive experience in corporate finance spanning 16 years, having been
attached to the corporate finance department of the then Amanah Merchant Bank Berhad
(now Alliance Investment Bank Berhad) and subsequently the then Aseambankers
Malaysia Berhad (now Maybank Investment Bank Berhad). She left Maybank Investment
Bank Berhad in 2009 to join ECM Libra Investment Bank Berhad as director and head of
corporate finance, investment banking, and subsequently became the Deputy Chief
Executive Officer in December 2010 till December 2012. She has been directly involved, at
various levels, in initial public offerings, secondary offerings, reverse take overs, mergers
and acquisitions, listing of real estate investment trusts, general offers, private debt
securities, private equity and structured financing, amongst others. She is currently the
Group Chief Executive Officer of ECM Libra Financial Group Berhad.
Management Staff
Name:
Azra-Banu binti Masheerul Hassan
Position:
Manager, Legal
Qualification:
Bachelor of Laws (LLB) (Hons)
Experience:
She has been working as an advocate and solicitor since 1996, doing mainly conveyancing
matters (including banking matters). She joined ECM Libra Investment Bank Berhad in 2010
and moved on to LIB in 2012.
Name:
Ong Lei Hua
Position:
Director, Finance and operations
Qualification:
Fellow Member of the Association of Chartered Certified Accountants and a Member of
Malaysian Institute of Accountants
Experience:
She joined the holding company of LIB in 2000 and moved to LIB in 2006. She has more
than 18 years of experience in audit and finance. She started her career as an auditor with
Coopers & Lybrand which later became PricewaterhouseCoopers.
Name:
Yusidawati binti Mt Yusuf
Position:
Compliance Manager
Qualification:
Associate member of the Malaysian Institute of Chartered Secretaries and Administrators
(MAICSA) and Certified Financial Planner (CFP)
Experience:
She has more than 12 years of experience in the financial services industry including
banking, unit trust and fund management. She was also a former compliance
manager/officer in several unit trust management companies. She is the designated person
responsible for the compliance matters of LIB.
Duties and Responsibilities of the Fund Managers
LIB‟s fund managers are authorized to manage the Funds in accordance with the Funds‟ stated investment
objective. This authority is subject to the requirements of this Master Prospectus, the respective Deeds, Guidelines
and relevant laws, acceptable and efficacious business practice within the unit trust industry, the policies and
internal controls in place of the Management Company. The fund managers will report to the investment committee
of the Fund and will implement the investment strategies selected by this committee.
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Master Prospectus
125
Profile Of Key Investment Personnel
Name:
Position:
Chief executive officer & non-independent executive director
Qualification:
Please refer to page 123
Experience:
Please refer to page 123
Name:
Jason Lee Wei Chung
Position:
Co-chief investment officer
Qualification:
BA (Hons) Economics, MSc International Banking and Financial Studies, Chartered Financial
Analyst (CFA)
Experience:
He has a total of seventeen (17) years working experience in buy and sells sides of the
financial services industry. A former portfolio manager for a family office and later general
manager of investment in Amanah Raya-JMF Asset Management. Jason has also taken
roles as an equity analyst and was the equity sales specialist as well as the head of dealing
of Macquarie Capital Malaysia.
Name:
David Yong Siew Huen
Position:
Fund manager
Qualification:
The Association of Chartered Certified Accountants (ACCA)
Experience:
Having garnered 9 years of audit and commercial accounting experience, he started his
financial industry career in 1992 with Arab-Malaysian Securities as an analyst. In 1995 he
moved to institutional sales handling a portfolio of foreign broker-dealers, local
institutions/corporates and high net-worth individuals. He joined ECM Libra Investment Bank
in 2008 to do corporate broking (sales) before transferring to LIB in December 2012. He
holds a Capital Markets Services Representative‟s Licence.
Name:
Joy-Marina Choong Wai Kwin
Position:
Fund manager
Qualification:
Bachelor of Business in Economics & Finance (RMIT University, Australia)
Experience:
She joined LIB in 2010. Prior to that she was with Hong Leong Bank Berhad, where she has
eleven (11) years of experience in credit management and recovery. She has three (3) years
of experience in fund management and credit analysis, and holds a Capital Markets Services
Representative‟s Licence.
Name:
Ong Eu Lin
Position:
Fund manager
Qualification:
Bachelor of Economics, University of Malaya
Experience:
She joined ECM Libra Investment Bank Berhad under the management associate trainee
programme in 2009 where she completed training in treasury sales, institutional
stockbroking, equity research, asset management and investment banking. Upon completing
the programme, she was subsequently selected to join LIB in 2010. She has three (3) years
of experience in fund management, economics and fixed income research. She is currently
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126
Profile Of Key Investment Personnel (cont’d)
Name:
Elyzza Syazreen binti Zailan
Position:
Fund manager
Qualification:
Bachelor of Science in Actuarial Science (University of Illinois, Urbana-Champaign, USA),
Distinction
Experience:
She joined ECM Libra Investment Bank Berhad under the management associate trainee
programme in 2009 where she completed training in treasury sales, institutional
stockbroking, equity research, asset management and investment banking. Upon completing
the programme, she was subsequently selected to join LIB in 2010. She has three (3) years
of experience in fund management, economics and fixed income research. She is currently
Libra Invest Berhad
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127
14. THE SHARIAH ADVISER
Corporate Profile of the Shariah adviser
IBFIM has been appointed as the Shariah Adviser for Libra Amanah Saham Wanita, Libra AsnitaBOND Fund and
Libra SyariahEXTRA Fund (“the Funds”). Scheduled to meet the Manager and/or the Investment Committee of the
Funds every quarter, where IBFIM will advise the Manager on the selection of investment tools to be adopted.
IBFIM will also counsel the mechanism of the operations of the Funds‟ activities to ensure that the operations of the
Funds comply with Shariah requirements.
General Information of IBFIM
IBFIM was incorporated as a company limited by guarantee and not having share capital in Malaysia under the
Companies Act, 1965 on 15 February 2007.
Experience in Advisory and Services
IBFIM is registered with the SC to act as a Shariah Adviser for Shariah-compliant collective investment schemes
and sukuk issuance. IBFIM is also involved in numerous Shariah-compliant private mandates as well as the
Shariah Adviser for Islamic REITs and Islamic asset management houses.
As at 7 February 2014, IBFIM has total staff strength of 61 employees, and has 77 funds under its supervision.
Roles and Responsibilities of IBFIM as the Shariah Adviser
As the Shariah adviser, the role of IBFIM is to ensure that the operations and investments of the Funds are in
compliance with Shariah requirements. The Shariah Adviser reviews the Funds‟ investments on a monthly basis to
ensure compliance with Shariah requirements at all times and meets with the Manager on a quarterly basis to
review and advise on the Funds‟ compliance with Shariah requirements. Final responsibility for ensuring Shariah
compliance of the Funds with Shariah requirements in all relevant aspects rests solely with the Manager.
In line with the SC Guidelines, the roles of IBFIM as the Shariah Adviser are;

ensuring that the Shariah-compliant unit trust fund (“the Funds”) are managed and administered in
accordance with the Shariah principles;

providing expertise and guidance for the Funds in all matters relating to Shariah principles, including on the
Funds‟ deed and prospectus, its structure and investment process, and other operational and
administrative matters;

consulting the SC who may consult the Shariah Advisory Council where there is any ambiguity or
uncertainty as to an investment, instrument, system, procedure and/or process;

scrutinising the Funds‟ compliance report as provided by the compliance officer, transaction report provided
by or duly approved by the trustee and any other report deemed necessary for the purpose of ensuring that
the Fund‟s investments are in line with the Shariah principles;

preparing a report to be included in the Funds‟ quarterly and annual report certifying whether the Funds
have been managed and administered in accordance with the Shariah principles;

ensuring that the Funds comply, with any guideline, ruling or decision issued by the SC, with regard to
Shariah matters;

vetting and advising on the promotional materials of the Funds;

assisting and attending to any ad-hoc meeting called by the SC and/or any other relevant authority.
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Master Prospectus
128
Profile of the Shariah Team
IBFIM‟s Shariah team consist of the following personnel:
Name
Dato’ Mohd Bakir bin Haji Mansor
Position:
Distinguished Shariah Advisor
Qualification:
Shahadah Ulya (Kolej Islam Malaya)
Experience:
He is a member of the Shariah Supervisory Council of Bank Islam Malaysia Berhad (BIMB),
the Shariah Advisory Body of Syarikat Takaful Malaysia Berhad and sits on the Shariah
Panel Committee of Amanah Ikhtiar Malaysia. He is also the Chairman of the Shariah
Advisory Committee of the Employees Provident Fund, the Shariah Advisory Committee of
BIMB Securities Sdn. Bhd. and the Shariah Advisory Committee of the Association of Islamic
Banking Institutions Malaysia.
Prior to joining IBFIM, Dato‟ Mohd Bakir was the Shariah Coordinator at BIMB, from 1984 to
2001. Previously, he served at the National Council for Islamic Religious Affairs in the Prime
Minister's Department for 10 years from 1971. He was also a Chief Assistant Director at the
Islamic Research Centre for 4 years from 1981. He holds a Shahadah Ulya from Kolej Islam
Malaya.
Dato‟ Mohd Bakir was awarded “Tokoh Maulidur Rasul 1434H/2013M” by the government of
Malaysia for his contributions in promoting the Islamic finance industry.
Name:
Mohd Nasir bin Ismail
Position:
Shariah Advisor
Qualification:
Bachelor of Shariah (Hons) (University of Malaya) and Islamic Financial Planner (IFP)
Experience:
He has been with IBFIM since its incorporation. He is responsible in providing Shariah input
on the advisory, consultancy and research functions with regard to Islamic banking, takaful,
Islamic capital market and Shariah-compliant unit trust funds. Prior to joining IBFIM, he was
with Institut Pengajian Ilmu-Ilmu Islam, Kelantan. He graduated with a Bachelor of Shariah
(Honours) from the University of Malaya in 1998. He is also the designated person
responsible for Shariah matters related to the Funds.
Name:
Ahmad Zakirullah bin Mohamed Shaarani
Position:
Senior Shariah Officer
Qualification:
Experience:
Master in Islamic Revealed Knowledge and Human Sciences (Honours) (International Islamic
University of Malaysia)
He joined IBFIM in February 2008. He is responsible in providing Shariah input on the
advisory, consultancy and research functions with regard to Islamic banking, takaful, Islamic
capital market and Shariah-compliant unit trust funds. Prior to joining IBFIM, he served at
University Sains Islam Malaysia before joining PTPL College. He obtained his Master in
Islamic Revealed Knowledge and Human Sciences from International Islamic University of
Malaysia (Honours), Bachelor of Shariah Islamiyyah (Honours) from Al-Azhar University,
Egypt and Diploma of Shariah Islamiyyah (Honours) from Higher Institute of Islamic and
Arabic Language (MADIWA). He is also the designated person responsible for Shariah
matters related to the Funds.
Name:
Budeeman Mana
Position:
Senior Shariah Officer
Qualification:
Bachelor of Islamic Revealed Knowledge and Heritage (Fiqh and Usul al-Fiqh) (Honours)
(International Islamic University of Malaysia)
Experience:
He joined IBFIM in July 2011. He is responsible in providing Shariah input on the advisory,
consultancy and research functions with regard to Islamic banking, takaful, Islamic capital
market and Shariah-compliant unit trust funds. Prior to joining IBFIM, he served at Sri
Cempaka School, Damansara Heights. He graduated with a Bachelor of Islamic Revealed
Knowledge and Heritage (Fiqh and Usul al-Fiqh) (Honours) from International Islamic
University Malaysia in 2010. He is also the designated person responsible for Shariah
matters related to the Funds.
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15. THE TRUSTEE
Maybank Trustees Berhad (“MTB”) is the appointed Trustee for IncomeEXTRA, EquityEXTRA, MoneyEXTRA,
BondEXTRA, VersatileEXTRA, TacticalEXTRA, ASnita and SyariahEXTRA.
Corporate Profile of the Trustee
Name of Trustee
:
Registered Office
:
50050 Kuala Lumpur
Date of Incorporation
:
12 April 1963
Staff Strength
:
Funds under Trusteeship
:
Directors
:
27 executives and 7 non-executives as at 7 February 2014
60 unit trust funds, 2 wholesale funds and 4 real estate investment
trusts/property trust funds and one (1) private retirement scheme (consisting of
three (3) funds) as at 7 February 2014
Encik Zainal Abidin Jamal (Non independent non-executive director &
chairman)
Dato‟ Mohd. Hanif bin Suadi (Non-independent non-executive director)
Dato‟ Dr Tan Tat Wai (Independent non-executive director)
Ms Ong Sau Yin (Independent non-executive director)
Financial Position
MTB‟s performance for the last three (3) financial years, based on audited accounts and unaudited account is as
follows:
Financial Year Ended
31 December
31 December
31 December
30 June
2012
2011*
2011
2013
(unaudited)
(RM’000)
(RM’000)
(RM’000)
(RM’000)
500
500
500
500
Shareholders‟ funds
21,002
12,107
8,679
6,239
Turnover
21,316
14,048
6,506
9,784
Pre-tax Profit
11,826
4,571
3,242
3,168
After tax Profit
8,895
3,428
2,439
2,338
st
* Change of financial year to 31 December by Maybank Group with effect from 1 July 2011.
Experience in Trustee Business
As at 7 February 2014, MTB has 34 employees (27 executives and 7 non-executives) and has more than 22 years
of experience as Trustees to unit trust funds. MTB has under its stewardship a total of 60 unit trust funds, 2
wholesale funds, 4 real estate investment trusts/property trust funds and one (1) private retirement scheme
(consisting of three (3) funds).
Key Personnel
Ms Eunice Chan – Chief Executive Officer
Ms Eunice Chan was appointed as the Director of Securities Services of Maybank and Chief Executive Officer of
Maybank Trustees Berhad with effect from 1 Nov 2012. Prior to her appointment, Eunice was the Director of
Custodial Services. She joined Maybank Group in 1997 as Head of Business Operations in Mayban Unit Trust
Berhad. She has extensive experience in business operations of the unit trust and she oversees the fund
distribution, network management and operational activities of the company. In 2007, she was appointed as the
Head of Business Process Management in Service Level Management and Quality cum Strategic Planning and
Performance Management in the Chief Operating Officer‟s office. In 2009, she was seconded to the Transformation
Office to spearhead the Project Management Office in charge of restructuring initiatives of the bank. Prior to joining
Libra Invest Berhad
Master Prospectus
130
Malayan Banking Berhad, she was with the New Zealand Stock Exchange. She holds a Bachelor of Commerce and
Administration from the Victoria University of Wellington, New Zealand.
Mr Samuel Hwa - Head, Business Development & Strategies
Mr Samuel Hwa joined MTB in August 2013. He holds a Bachelor of Law degree from the University of London and
a Bachelor of Science in Business from Pennsylvania State University double majoring in Finance and
Marketing/Management. He started his career in America as a business analyst and later joined an insurance
company in Malaysia. Prior to joining Maybank, he was with CIMB Investment Bank Berhad. Samuel has worked in
the Securities Services industry for over 5 years.
Mr C. Dinesh – Head, Legal
Mr. Dinesh joined MTB as Head, Legal in 2008. He graduated from University of Malaya with an LLB (Honours)
Degree in 1994 and was called to the Malaysian Bar in 1995. Prior to joining MTB, he was as an advocate and
solicitor handling commercial banking and corporate matters.
Trustee’s Statement of Responsibility
The Trustee has given its willingness to assume the position and all the obligations that come along with them
under the Deed of the Fund and all relevant written laws. The Trustee is entitled to be indemnified out of the assets
of the Fund for any liability incurred by the Trustee in performing or exercising any of its powers or duties in relation
to the Fund. This indemnity is in addition to any indemnity allowed by law. However, it does not extend to liabilities
arising from a breach of trust or failure to show the due care and diligence required of the Trustee having regard to
its powers, authorities, and discretions under the Deed.
Roles, Duties & Responsibilities of the Trustee
The Trustee‟s role is mainly to act as custodian of the Fund and to exercise all due diligence and vigilance in
carrying out its functions and duties and to safeguard the rights and interests of the Unit Holders. Apart from being
the legal owner of the Fund‟s assets, the Trustee is responsible for ensuring that the Manager performs its
obligations in accordance with the provisions of the Deed and the relevant laws.
Delegates of the Trustee
MTB has delegated its custodian function to Malayan Banking Berhad. The custodian function is run under
Maybank Custody Services (“MCS”), a unit within Malayan Banking Berhad. MCS commenced operations in 1983
and has been appointed as custodian of unit trust funds since 1989. MCS provides clearing and custody services
for Malaysian equity and fixed income securities to domestic and foreign institutional clients. In addition, MSC offers
global custody services to domestic institutions/clients that have foreign investments.
MTB has appointed Standard Chartered Bank Malaysia Berhad (“SCBMB”), as the custodian of the foreign assets
of the Fund. The assets are held in the name of the Fund through the custodian‟s wholly owned subsidiary and
nominee company, Cartaban Nominees (Tempatan) Sdn Bhd. The assets are automatically registered into the
name of the Fund.
SCBMB was incorporated in Malaysia on 29 February 1984 under the Companies Act 1965 as a public limited
company and its subsidiary of Standard Chartered plc (the holding company of a global banking group). SCBMB
was granted a license on 1 July 1994 under the Banking and Financial Institutions Act, 1989. SCBMB has been
providing custody services for more than twenty (20) years. SCBMB has been providing sub-custody services to
local investors in Malaysia since 1995.
Both custodians act only in accordance with instructions from the Trustee.
As at 7 February 2014, save for the suits mentioned herein below, the Trustee is not engaged in any material
litigation as plaintiff or defendant and the Trustee is not aware of any proceedings, pending or threatened or of any
facts likely to give rise to any proceedings which might materially and adversely affect its financial position or
business.
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Master Prospectus
131
1. The bondholders of the Al-Bai Bithaman Ajil [ABBA] bonds [bondholders] issued by Pesaka Astana (M) Sdn Bhd
[PASB] have sued PASB for its failure to meet its bonds payment obligations under Kuala Lumpur High Court
Civil Suit No. D5(D6)-22-1810-2005 [the ABBA Suit] and cited the Trustee as one of 12 co-defendants in the
ABBA Suit. The claim in the ABBA Suit is for RM149,315,000.00 or any other sum that the Court deems fit. The
other defendants in the ABBA Suit include among others the Facility Agent, PASB‟s Chief Executive Officer, one
of PASB‟s directors and associate companies of the Chief Executive Officer and the said director. The Trustee
has defended the ABBA Suit and its trial has concluded.
The Trustee had appealed against the decision made by the High Court on 30 June 2010 in respect of the ABBA
Suit in awarding judgement against it and another Defendant. The appeals proceeded on 22, 23, 26, 27, 28, 29
and 30 September 2011 and 3 October 2011. The Court of Appeal had on 8 November 2011 awarded the
Trustee and the Facility Agent a limited indemnity against PASB, PASB‟s Chief Executive Officer, one of PASB‟s
directors and associate companies of the Chief Executive Officer and the said director but found the Trustee and
the Facility Agent equally liable to the bondholders. The Federal Court had on 5 April 2012 granted the Trustee
leave to appeal to the Federal Court against certain parts of the decision of the Court of Appeal [Federal Court
Appeal]. The Federal Court Appeal was heard on 6, 7, 8, 20, 21 and 23 November 2012 and on 2, 3 and
4 January 2013. The hearing dates of 17 to 19 October 2012 and 19 November 2012 were vacated. Decision is
reserved to a date to be notified by the Federal Court.
2. Connected to the ABBA Suit, Amanah Short Deposits Berhad [now MIDF Amanah Investment Bank Berhad
(MIDF)], a Noteholder of the Combined Commercial Papers and/or Medium Term Notes/Letters of
Credit/Financial Guarantee Facilities [CP/MTN] totalling RM13 million and issued by PASB, has also sued PASB
for full payment under the CP/MTN arising from a cross-default by PASB under its ABBA bonds under Kuala
Lumpur High Court Civil Suit No. D2-22-1085-2006 [the CP/MTN Suit]. The Trustee was cited as one of 5 codefendants in the CP/MTN Suit. The claim in the CP/MTN Suit is for RM13 million or any other sum that the
Court deems fit and damages. The other defendants in the CP/MTN Suit are the Facility Agent, PASB‟s Chief
Executive Officer and one of PASB‟s directors. The Trustee is defending the CP/MTN Suit. The trial of the
CP/MTN Suit is stayed until the determination of the Federal Court Appeal.
The Trustee has obtained leave of the court to proceed with the actions against PASB given that further to an
unrelated suit a provisional liquidator had been appointed against PASB. The Trustee has also obtained leave of
the court to proceed with the actions against PASB following the court's order to wind-up PASB further to the
unrelated suit.
In any event, any successful claim that may be established against the Trustee will be covered by the Trustee‟s
insurer and/or Malayan Banking Berhad as the ultimate holding company of the Trustee. As such, the ABBA Suit
and the CP/MTN Suit will not materially affect the business or financial position of the Trustee.
3. Several holders of the bonds [bondholders] issued by Aldwich Berhad [In Receivership] [Aldwich] have sued
Aldwich for its failure to settle its indebtedness to the bondholders following the default of the said bonds in 2010
and cited the Trustee as one of 6 co-defendants under Kuala Lumpur High Court Suit No. D-22NCC-162211/2012 [the Aldwich Bondholders‟ Suit]. The claim against the Trustee is for the sum of RM177,248,747.31 or
any other sum that the Court deems fit. The other defendants are the holding company of Aldwich, the Chief
Executive Officer of the holding company of Aldwich, the Security Agent and the Reporting Accountant. The
Trustee does not admit liability to the Aldwich Bondholders‟ Suit and shall defend it. The Aldwich Bondholders‟
Suit will not materially affect the business or financial position of the Trustee. Trial commenced on 25 November
2013 and will continue on 10 to 14 March 2014, 17 to 21 March 2014, 24 to 28 March 2014 and 31 March to
4 April 2014.
The Trustee reiterates that it has in place a strong team of professionals with priority mainly on protecting the
interest of all stakeholders and upholding best standards of service and management practice.
Libra Invest Berhad
Master Prospectus
132
CIMB Islamic Trustee Berhad is the appointed Trustee for ASnitaBOND.
CIMB Islamic Trustee Berhad (“CITB”)
50470 Kuala Lumpur
Malaysia
19 January 1988
Name of Trustee
Registered Office
:
:
Paid up Share Capital
:
:
Staff Strength
:
:
10 executives and 7 non-executives as at 7 February 2014
43 funds as at 7 February 2014
Directors
:
Zahardin Omardin (Independent director & chairman, non-executive)
RM1,000,000 (200,000 ordinary shares of RM10 each and partly paid
up RM 5 each)
Chan Swee Liang Carolina (Non-independent director, non-executive)
Liew Pik Yoong (Non-independent director, executive)
Chief Operating Officer
:
Lee Kooi Yoke
Financial Position
As at 31 December 2012, its shareholders‟ funds totaled RM6.311 million and it achieved a profit before tax of
RM1.386 million.
The following is a summary of the past performance of CITB based on audited accounts for the past three (3)
financial years ended 31 December.
2013
(unaudited)
(RM’000)
Turnover
Pre-tax Profit / (Loss)
After tax Profit / (Loss)
1,000
6,530
2,789
439
219
Year Ended 31 December
2011
2012
2010
(RM’000)
(RM’000)
(RM’000)
1,000
1,000
500
6,311
4,000
1,386
5,317
5,164
2,322
4,631
5,644
1,836
993
1,740
1,357
As at 7 February 2014, CITB acts as trustee to 2 real estate investment trust funds, 23 unit trust funds, 15
wholesale funds and 1 private retirement scheme (consisting of 3 funds) and has more than 24 years of experience
as trustee to unit trust funds.
In addition to overseeing these funds, CITB also acts as trustee to private debt securities issues such as sukuk,
bonds and notes. Other than being the administrator of deceased‟s estates, executor of wills, trustee for minors or
incapacitated persons, CITB also acts as trustee for public, charitable, staff retirement, and pension/ gratuity fund
scheme, custodian trustee for associations, clubs and others.
Key Personnel
Liew Pik Yoong, Head/Director, Group Trustee Services
Ms Liew is responsible for the overall business direction and management of the trustee company. She joined
CIMB in January 2011 and has more than 25 years experience in financial market and securities industry. Prior to
joining CIMB, she held positions as Head/Director, Investors & Intermediaries and Head, Securities Services for
custody and fund services product with a local international bank. Prior to that, she was Chief Operating Officer with
a local foreign-owned trustee company and was Vice-President / Head of Department with a local foreign bank
where she was responsible for Custody Services in addition to supporting share margin and unit trust product. She
has a degree in the Institute of Chartered Secretaries & Administrators (ICSA).
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Master Prospectus
133
Lee Kooi Yoke, Chief Operating Officer
Ms. Lee holds a Bachelor Degree in Administration (Finance) from Griffith University, Australia; and a member of
CPA Australia, Malaysia Institute of Accountant and Financial Planning Association Malaysia. She has more than
21 years of working experience in the in the financial industry. Prior to joining Trustee Services, she headed the
operations of a unit trust management company responsible for transfer agency, investment back-office, system
and projects and retail and corporate agency operations. And before this position, she was the Head of Operations
of the most established insurance company in Malaysia and Singapore.
Ng Lai Peng, Director
Ms Ng holds a Bachelor of Arts (Honours) Degree in Business Administration from the University of Bolton and
London Chamber of Commerce and Industry qualification (LCCI) and has more than ten (10) years of experience in
accounting and trust operations.
Azida Binti Abdul Aziz, Associate Director
She holds a Diploma in Accountancy from Universiti Teknologi Mara. She has more than 6 years experience in
trust operations.
Azmi Bin Hussin, Associate Director
Azmi holds a Diploma in Business Administration from Binary Business School. He has more than 8 years
experience in Unit Trust Operations and Fund Accounting.
Yvonne Fernandez, Manager
Ms Yvonne holds Degree in Bachelor of Laws from University of London (External Programme), Master of Laws
from University of Malaya and Certificate in Legal Practice. She joined CIMB Trustee Services in November 2007.
Prior to joining CIMB she was in legal practice for 3 years doing civil litigation. She handles the vetting of the legal
documentation and all related legal and compliance issues arising from Corporate Trust of CIMB Trustee Services.
The Trustee‟s functions, duties and responsibilities are set out in the Deed. The general function, duties and
responsibility of the Trustee include, but are not limited to, the following:
(a)
Take into custody the investments of the Fund and hold the investments in trust for the Unit Holders;
(b)
Ensure that the Manager operates and administers the Fund in accordance with the provisions of the Deed,
SC Guidelines and acceptable business practice within the unit trust industry;
(c)
As soon as practicable notify the SC of any irregularity or breach of the provisions of the Deed, SC
Guidelines and any other matters which in the Trustee's opinions may indicate that the interests of Unit
Holders are not served;
(d)
Exercise reasonable diligence in carrying out its functions and duties, in actively monitoring the operations
and management of the Fund by the Manager to safeguard the interests of Unit Holders;
(e)
Maintain, or cause the Manager to maintain, proper accounting records and other records as are
necessary to enable a complete and accurate view of the Fund to be formed and to ensure that the Fund is
operated and managed in accordance with the Deed of the Fund, Prospectus, the SC Guidelines and
securities law; and
(f)
Require that the accounts be audited at least annually.
The Trustee has covenanted in the Deed that it will exercise all due diligence and vigilance in carrying out its
functions and duties, and in safeguarding the rights and interests of investors.
Libra Invest Berhad
Master Prospectus
134
The Trustee has given its willingness to assume the position as Trustee of the Fund and all the obligations in
accordance with the Deed, all relevant laws and rules of law.
Trustee’s Declaration
The Trustee is independent of the Manager. The Trustee will carry out transactions on an arm‟s length basis and on
terms which are best available for the Fund, as well as act at all times in the best interest of the Fund‟s investors.
The Trustee also has adequate procedures and processes in place to prevent or control conflicts of interest.
Trustee Delegate
CITB has appointed CIMB Islamic Nominees (Tempatan) Sdn Bhd (8424H) as the Trustee‟s delegate to perform
custodial function which includes safekeeping, settlement and corporate action related processing and cash and
security reporting.
All investments are automatically registered in the name of the Fund. CIMB Islamic Nominees (Tempatan) Sdn Bhd
acts only in accordance with instructions from the Trustee.
As at 7 February 2014, CITB is not engaged in any material litigation and arbitration, including those pending or
threatened, and is not aware of any facts likely to give rise to any proceedings which might materially affect the
business/financial position of the Trustee or any of its delegates.
Trustee’s Obligation
The Trustee‟s obligation in respect of monies paid by an investor for the application of units arises when the monies
are received in the relevant account of the Trustee for the Funds and the Trustee‟s obligation is discharged once it
has paid the redemption amount to the Manager.
Libra Invest Berhad
Master Prospectus
135
CIMB Commerce Trustee Berhad is the appointed Trustee for LREF (formerly known as Libra Canada Australia
Resource Economies Fund), DividendEXTRA, LCLAF and LLF.
Name of Trustee
: CIMB Commerce Trustee Berhad (“CCTB”)
Registered Office
: Level 13, Menara CIMB
50470 Kuala Lumpur
Malaysia
: 25 August 1994
Staff Strength
:
RM1,750,000 (350,000 ordinary shares of RM10 each and partly paid
up RM 5 each)
20 executives as at 7 February 2014
Directors
:
83 funds as at 7 February 2014
:
Zahardin Omardin (Independent director & chairman, non-executive)
Chan Swee Liang Carolina (Non-independent director, non-executive)
Paid up Share Capital
:
Liew Pik Yoong (Non-independent director, executive)
Chief Operating Officer
:
Lee Kooi Yoke
Financial Position
As at 31 December 2012, its shareholders‟ funds totaled RM8.600 million and it achieved a profit before tax of
RM2.596 million.
The following is a summary of the past performance of CCTB based on audited accounts for the past three (3)
financial years ended 31 December.
2013
(unaudited)
RM’000
Turnover
Pre-tax Profit / (Loss)
After tax Profit / (Loss)
1,750
11,386
8,502
4,216
2,786
Year Ended 31 December
2011
2012
2010
(RM’000)
(RM’000)
(RM’000)
1,750
8,600
1,750
6,601
1,750
6,497
7,917
2,596
1,999
6,289
1,802
1,354
7,113
2,588
1,936
As at 7 February 2014, CCTB acts as trustee to one (1) real estate investment trust fund, sixty five (65) unit trust
funds, one (1) private retirement scheme (consisting of four (4) funds) and thirteen (13) wholesale funds and has
more than 18 years of experience as trustee to unit trust funds.
Key Personnel
Liew Pik Yoong, Head/Director, Group Trustee Services
Ms Liew is responsible for the overall business direction and management of the trustee company. She joined
CIMB in January 2011 and has more than 25 years experience in financial market and securities industry. Prior to
joining CIMB, she held positions as Head/Director, Investors & Intermediaries and Head, Securities Services for
custody and fund services product with a local international bank. Prior to that, she was Chief Operating Officer with
a local foreign-owned trustee company and was Vice-President / Head of Department with a local foreign bank
where she was responsible for Custody Services in addition to supporting share margin and unit trust product. She
has a degree in the Institute of Chartered Secretaries & Administrators (ICSA).
Libra Invest Berhad
Master Prospectus
136
Lee Kooi Yoke, Chief Operating Officer
Ms. Lee holds a Bachelor Degree in Administration (Finance) from Griffith University, Australia; and a member of
CPA Australia, Malaysia Institute of Accountant and Financial Planning Association Malaysia. She has more than
21 years of working experience in the in the financial industry. Prior to joining Trustee Services, she headed the
operations of a unit trust management company responsible for transfer agency, investment back-office, system
and projects and retail and corporate agency operations. And before this position, she was the Head of Operations
of the most established insurance company in Malaysia and Singapore.
Ng Lai Peng, Director
Ms Ng holds a Bachelor of Arts (Honours) Degree in Business Administration from the University of Bolton and
London Chamber of Commerce & Industry (LCCI) qualification and has more than ten (10) years of experience in
accounting and trust operations.
Law Oi Meng, Associate Director
Ms. Law holds a Bachelor Degree in Information Technology from the University of Southern Queensland and has
more than ten (10) years of working experience in developing and implementing IT systems and trust operations.
Linda Ong Gaik Bee, Director
Ms. Ong holds a degree in Bachelor of Law from University of Buckingham, in England, UK and was admitted to the
Malaysian Bar as an Advocate and Solicitor prior to joining the trust industry. She is currently overseeing the legal
and compliance of CIMB Trustee Services. She has more than nine years of experience in the trust industry.
Azida Binti Abdul Aziz, Associate Director
She holds a Diploma in Accountancy from Universiti Teknologi Mara. She has more than 10 years experience in
trust operations.
The Trustee‟s functions, duties and responsibilities are set out in the Deed. The general function, duties and
responsibility of the Trustee include, but are not limited to, the following:
(a)
Take into custody the investments of the Fund and hold the investments in trust for the Unit Holders;
(b)
Ensure that the Manager operates and administers the Fund in accordance with the provisions of the Deed,
SC Guidelines and acceptable business practice within the unit trust industry;
(c)
As soon as practicable notify the SC of any irregularity or breach of the provisions of the Deed, SC
Guidelines and any other matters which in the Trustee's opinions may indicate that the interests of Unit
Holders are not served;
(d)
Exercise reasonable diligence in carrying out its functions and duties, in actively monitoring the
operations and management of the Fund by the Manager to safeguard the interests of Unit Holders;
(e)
Maintain, or cause the Manager to maintain, proper accounting records and other records as are
necessary to enable a complete and accurate view of the Fund to be formed and to ensure that the Fund is
operated and managed in accordance with the Deed of the Fund, Prospectus, the SC Guidelines and
securities law; and
(f)
Require that the accounts be audited at least annually.
The Trustee has covenanted in the Deed that it will exercise all due diligence and vigilance in carrying out its
functions and duties, and in safeguarding the rights and interests of investors.
Libra Invest Berhad
Master Prospectus
137
The Trustee has given its willingness to assume the position as Trustee of the Fund and all the obligations in
accordance with the Deed, all relevant laws and rules of law.
Trustee’s Declaration
The Trustee is independent of the Manager. The Trustee will carry out transactions on an arm‟s length basis and on
terms which are best available for the Fund, as well as act at all times in the best interest of the Fund‟s investors.
The Trustee also has adequate procedures and processes in place to prevent or control conflicts of interest.
Trustee Delegate
CCTB has appointed CIMB Group Nominees (Tempatan) Sdn Bhd (274740-T) as the Trustee‟s delegate to perform
custodial function which includes safekeeping, settlement and corporate action related processing and cash and
security reporting.
All investments are automatically registered in the name of the Fund. CIMB Group Nominees (Tempatan) Sdn Bhd
acts only in accordance with instructions from the Trustee.
As at 7 February 2014, CCTB is not engaged in any material litigation and arbitration, including those pending or
threatened, and is not aware of any facts likely to give rise to any proceedings which might materially affect the
business/financial position of the Trustee or any of its delegates.
Trustee’s Obligation
The Trustee‟s obligation in respect of monies paid by an investor for the application of units arises when the monies
are received in the relevant account of the Trustee for the Funds and the Trustee‟s obligation is discharged once it
has paid the redemption amount to the Manager.
Libra Invest Berhad
Master Prospectus
138
16. SALIENT TERMS OF THE DEED
Recognition of Unit Holders
You shall be recognised as a Unit Holder when you are registered as the holder of units of the Funds. All Unit
Holders are entitled to the benefit of, be bound by and be deemed to have notice of the provisions of the Deeds.
Please be advised that if you invest in Units through an IUTA which adopts the nominee system of
ownership, you would not be considered to be a Unit Holder under the Deed and you may, consequently,
not have all the rights ordinarily exercisable by a Unit Holder (for example, the right to call for a Unit
Holder’s Meeting and to vote thereat and the right to have your particulars appearing in the register of Unit
Holders of the Fund).
Rights
Unit Holders will:





Be entitled to receive distributions of income in accordance with the discretion of the Management Company in
consultation with the Trustee;
Be entitled to participate in any increase in the value of the units and such other rights and privileges provided
for in the Deed;
Be entitled to be informed of the respective Fund‟s performance by way of interim and annual reports;
Be entitled to call for a Unit Holders‟ meeting, and vote for the removal of the Trustee or the Management
Company through a Special Resolution; and
Be entitled to exercise the cooling-off (if applicable).
Liabilities
Unit Holders will:



Not be entitled to request for transfer to them of any assets held by the Fund or be entitled to interfere with the
exercise by the Trustee or the Management Company on their behalf, of the rights of the Trustee as registered
owner of such assets;
Not be liable for any amount in excess of the purchase price paid for their units or for any charges payable in
relation to those units; and
Not be obligated to indemnify the Trustee and/or the Management Company in the event, that the liabilities
incurred on behalf of the Fund exceed the net asset value of the Fund.
Suspension and Deferrals
Under the provisions of the Deed, the Trustee may suspend the sale or repurchase of Units in any such event
where in the opinion of the Trustee:


The interests of Unit Holders or potential Unit Holders would be materially affected if the sale and/or
repurchased of Units were not suspended whereupon the Trustee shall immediately call a Unit Holders‟
meeting to decide on the next course of action; or
The circumstances are exceptional, and there is good and sufficient reason to do so, in which case the period
of suspension shall not exceed 21 days unless the consent of Unit Holders is received.
Libra Invest Berhad
Master Prospectus
Maximum Fees and Charges Permitted by the Deed
Fund Name
Annual Management
Annual Trustee Fee
Fee
% per annum of the Fund‟s NAV
Repurchase
Charge
Sales Charge
IncomeEXTRA
3.0
0.2
10
5
EquityEXTRA
3.0
0.2
10
5
DvidendEXTRA
3.0
0.2
(including local
custodian fees and
charges but excluding
foreign custodian fees
and charges)
10
5
BondEXTRA
3.0
0.2
10
5
MoneyEXTRA
3.0
0.2
10
5
Nil
Nil
10
5
10
5
10
5
5.0
Nil
10
5
LLF
0.5
VersatileEXTRA
3.0
0.08
(subject to a minimum
RM18,000 per annum
calculated and
accrued daily)
(excluding foreign
custodian fees and
charges)
0.2
TacticalEXTRA
3.0
0.2
LCLAF
3.0
LREF
2.0
0.2
of RM18,000 per
annum calculated and
accrued daily,
including local
custodian fees and
charges but excluding
and charges)
0.1
of RM18,000 per
annum before the
deduction of the
management fee and
trustee fee for the
relevant day excluding
and charges)
ASnitaBOND
3.0
0.2
(including local
custodian fees and
charges)
ASnita
2.0
0.3
RM50,000 per annum)
10
5
SyariahEXTRA
1.5
0.1
10
5
139
Libra Invest Berhad
Master Prospectus
140
Procedures to Increase the Direct Charges and Indirect Fees
Sales Charge
The Management Company may not charge a sales charge at a rate higher than that disclosed in this Master
Prospectus unless:
a)
the Management Company has notified the Trustee in writing of and the effective date for the higher charge;
b)
a supplemental / replacement prospectus stating the higher charge is issued; and
c)
thirty (30) days have elapsed since the effective date of the supplemental / replacement prospectus.
Repurchase Charge
The Management Company may not charge a repurchase charge at a rate higher than that disclosed in this Master
Prospectus unless:
a)
the Management Company has notified the Trustee in writing of and the effective date for the higher charge;
b)
a supplemental / replacement prospectus in stating the higher charge is issued; and
c)
thirty (30) days have elapsed since the effective date of the supplemental / replacement prospectus.
The Management Company may not charge an annual management fee at a rate higher than that disclosed in this
Master Prospectus unless:
a)
the Management Company has come to an agreement with the Trustee on the higher rate;
b)
the Management Company has notified the Unit Holders of the higher rate and the date on which such higher
rate is to become effective;
c)
a supplemental / replacement prospectus stating the higher rate is issued thereafter; and
d)
ninety (90) days have elapsed since the supplemental / replacement prospectus is issued.
Annual Trustee Fee
The Trustees may not charge an annual trustee fee at a rate higher than that disclosed in this Master Prospectus
unless:
a)
the Management Company has come to an agreement with the Trustee on the higher rate;
b)
the Management Company has notified the Unit Holders of the higher rate and the date on which such higher
rate is to become effective; and
c)
a supplemental / replacement prospectus stating the higher rate is issued thereafter; and
d)
ninety (90) days have elapsed since the supplemental / replacement prospectus is issued.
Procedures to Increase the Maximum Rate of Direct Charges and Indirect Fees in the Deed
The maximum sales charge, repurchase charge, annual management fee or annual trustee fee set out in the Deed
can only be increased if a Unit Holders‟ meeting has been held in accordance with the Deed. Thereafter, a
supplemental deed proposing a modification to the Deed to increase the aforesaid charges and fees is required to
be submitted for registration with the SC accompanied by a resolution of not less than two-thirds (2/3) of all Unit
Holders presents and voting at the Unit Holders‟ meeting sanctioning the proposed modification to the Deed.
Libra Invest Berhad
Master Prospectus
141
Permitted Expenses Payable by the Funds
Only the expenses (or part thereof) which is directly related and necessary in operating and administering the Fund
may be charged to the Fund. These would include (but are not limited) to the following:
a)
b)
c)
d)
e)
f)
g)
h)
i)
j)
k)
l)
m)
n)
o)
commissions/fees paid to brokers in effecting dealings in the investments of the Fund, shown on the contract
notes or confirmation notes;
taxes and other duties charged on the Fund by the government and/or other authorities;
costs, fees and expenses properly incurred by the auditor;
costs, fees and expenses incurred for the valuation of any investment of the Fund by independent valuers for
the benefit of the Fund;
costs, fees and expenses incurred for any modification of this Deed save the where such modification is for
the benefit of the Management Company and/or the Trustee;
costs, fees and expenses incurred for any meeting of Unit Holders save where such meeting is convened for
the benefit of the Management Company and/or the Trustee;
costs, commissions, fees and expenses of the sale, purchase, insurance and any other dealing of any asset
of the Fund;
costs, fees and expenses incurred in engaging any specialist approved by the Trustee for investigating or
evaluating any proposed investment of the Fund;
costs, fees and expenses incurred in engaging any valuer, adviser or contractor for the benefit of the Fund;
costs, fees and expenses incurred in the preparation and audit of the taxation, returns and accounts of the
Fund;
costs, fees and expenses incurred in the termination of the Fund or the removal of the Trustee or the
Management Company and the appointment of a new trustee or management company;
costs, fees and expenses incurred in relation to any arbitration or other proceedings concerning the Fund or
any asset of the Fund, including proceedings against the Trustee or the Management Company by the other
for the benefit of the Fund (save to the extent that legal costs incurred for the defence of either of them are
not ordered by the court to be reimbursed by the Fund);
remuneration and out of pocket expenses of the independent members of the investment committee of the
Fund, unless the Management Company decides otherwise;
costs, fees and expenses deemed by the Mangement Company to have been incurred in connection with any
change or the need to comply with any change or introduction of any law, regulation or requirement (whether
or not having the force of law) of any governmental or regulatory authority; and
(where the custodial function is delegated by the Trustee) charges and fees paid to sub-custodians.
Removal, Replacement, and Retirement of the Management Company and Trustee

Removal or Replacement of the Management Company
The Trustee shall take all reasonable steps to remove the Management Company if the Management Company:
a)
b)
c)
d)
e)
f)
has failed or neglected to carry out its duties to the satisfaction of the Trustee and the Trustee considers that it
would be in the interests of Unit Holders for it to do so after the Trustee has given notice to it of that opinion
and the reasons for that opinion, and has considered any representations made by the Management
Company in respect of that opinion, and after consultation with the relevant authorities and with the approval
of the Unit Holders by way of a Special Resolution; or
is in breach of any of its obligations or duties under the Deed or the relevant laws; or
has ceased to be eligible to be a management company under the relevant laws; or
has gone into liquidation, except for the purpose of amalgamation or reconstruction or some similar purpose;
or
has had a receiver appointed; or
has ceased to carry on business.
Libra Invest Berhad
Master Prospectus

142
Retirement of the Management Company
The Management Company shall have the power to retire in favour of some other corporation by giving to the
Trustee three (3) months‟ (or such other period as the Management Company and the Trustee may agree upon)
notice in writing of its desire so to do, provided such retirement is approved by the relevant authorities and the
retirement is in accordance with the conditions under the Deed.

Removal or Replacement of the Trustee
The Trustee may be removed and such corporation may be appointed as Trustee of the Fund by Special Resolution
of the Unit Holders at a duly convened meeting.
The Management Company shall take all reasonable steps to replace the Trustee as soon as practicable after
becoming aware that:
a)
b)
c)
d)
e)
f)
g)
the Trustee has ceased to exist; or
the Trustee has not been validly appointed; or
the Trustee was not eligible to be appointed or to act as Trustee under any relevant law; or
the Trustee has failed or refused to act as Trustee in accordance with the provisions or covenants of the
Deed or any relevant law; or
a receiver has been appointed over the whole or a substantial part of the assets or undertaking of the
Trustee and has not ceased to act under that appointment; or
a petition has been presented for the winding up of the Trustee (other than for the purpose of and followed by
a reconstruction, unless during or following such reconstruction the Trustee becomes or is declared
insolvent); or
the Trustee is under investigation for conduct that contravenes the Trust Companies Act 1949, the Trustee
Act 1949, the Companies Act 1965 or any relevant law.

Retirement of the Trustee
The Trustee may retire upon giving three (3) months‟ (or such other period as the Management Company and the
Trustee may agree upon) notice in writing to the Management Company of its desire so to do, provided such
retirement is approved by the relevant authorities and the retirement is in accordance with the conditions under the
Deed.
Termination of the Fund
The duration of the Trust is indeterminate. However, the Deed provides for certain circumstances under which the
Trust may be terminated.
The Fund may be terminated or wound up upon the occurrence of any of the following events:
a)
b)
c)
d)
e)
The SC‟s approval is revoked under section 256E of the CMSA;
A Special Resolution is passed at a Unit Holders‟ meeting to terminate or wind up the Fund, following
occurrence of events stipulated under section 30(1) of the CMSA and the court has confirmed the resolution,
as required under section 301(2) of the CMSA;
A Special Resolution is passed at a Unit Holders‟ meeting to terminate or wind up the Fund;
The Fund has reached its maturity date as specified in the Deed; and
The effective date of an approved transfer scheme has resulted in the Fund, which is the subject of the
transfer scheme, being left with no asset/property.
Provisions governing Unit Holders’ Meetings
The quorum required for a meeting of the Unit Holders shall be five (5) Unit Holders, whether present in person or
by proxy, provided always that the quorum for a meeting of the Unit Holders convened for the purpose of voting on
a Special Resolution shall be five (5) Unit Holders, whether present in person or by proxy, who must hold in
aggregate at least twenty five per centum (25%) of the Units in circulation at the time of the meeting, and provided
further that if the Fund has five (5) or less Unit Holders, the quorum required for a meeting of the Unit Holders of the
Fund shall be two (2) Unit Holders, whether present in person or by proxy; if the meeting has been convened for the
purpose of removing the Management Company and/or the Trustee, the Unit Holders present in person or by proxy
must hold in aggregate at least twenty five per centum (25%) of the Units in circulation at the time of the meeting.
Libra Invest Berhad
Master Prospectus
143
Meetings directed by Unit Holders
Unless otherwise required or allowed by the relevant laws, the Management Company shall, within twenty-one (21)
days of receiving a direction from not less than fifty (50) or one-tenth (1/10) of Unit Holders at the registered office
of the Management Company, summon a meeting of the Unit Holders by:
(a)
(b)
(c)
sending by post at least seven (7) days before the date of the proposed meeting a notice of the proposed
meeting to all the Unit Holders;
publishing at least fourteen (14) days before the date of the proposed meeting an advertisement giving notice of
the proposed meeting in a national language newspaper published daily and another newspaper approved by
the relevant authorities; and
specifying in the notice the place and time of the meeting and the terms of the resolutions to be proposed at the
meeting.
The Unit Holders may direct the Management Company to summon a meeting for any purpose including, without
limitation, for the purpose of:
(a)
(b)
(c)
(d)
(e)
requiring the retirement or removal of the Management Company;
requiring the retirement or removal of the Trustee;
considering the most recent financial statements of the Fund;
giving to the Trustee such directions as the meeting thinks proper; or
considering any matter in relation to the Deed.
provided always that the Management Company shall not be obliged to summon such a meeting unless direction
has been received from not less than fifty (50) or one-tenth (1/10) of all the Unit Holders.
Unit Holders meeting convened by the Management Company
Unless otherwise required or allowed by the relevant laws and the Deed, we may convene a Unit Holders‟ meeting
by giving Unit Holders‟ at least fourteen (14) days written notice specifying the place, time and terms of the
resolutions to be proposed.
Unit Holders meeting convened by the Trustee
The Trustee may convene a Unit Holders‟ meeting by giving Unit Holders‟ at least fourteen (14) days written notice
specifying the place, time and terms of the resolution to be proposed for any purpose including, without limitation,
for the purpose of:
(a)
(b)
(c)
(d)
(e)
requiring the retirement or removal of the Management Company;
giving instructions to the Trustee or the Manager if the Trustee considers that the investment management
policies of the Management Company are not in the interests of Unit Holders;
securing the agreement of the Unit Holders to release the Trustee from any liability;
deciding on the next course of action after the Trustee has suspended the sale and repurchase of Units; and
deciding on the reasonableness of the annual management fee charged to the Fund.
In the circumstances where:
(a)
the Management Company is in liquidation;
(b)
in the opinion of the Trustee, the Management Company has ceased to carry on business, or
(c)
in the opinion of the Trustee, the Management Company has, to the prejudice of Unit Holders, failed to
comply with the Deed or contravened any of the provisions of the Act.
The Trustee shall summon a Unit Holders‟ meeting by sending by post a notice of the proposed meeting to the Unit
Holders at least twenty-one (21) days before the date of the proposed meeting; and publishing at least twenty-one
(21) days before the date of the proposed meeting an advertisement giving notice of the meeting in a national
language newspaper published daily and another newspaper permitted by the relevant authorities.
Libra Invest Berhad
Master Prospectus
144
17. APPROVALS and CONDITIONS
Variations and Exemptions from SC Guidelines
We have obtained the approval from the SC for certain variations and exemptions from the SC‟s Guidelines
for EquityEXTRA Fund.
EquityEXTRA

EquityEXTRA has been allowed a variation to Clause 10.3.3(c) of the Guidelines issued in 1997 which states
that the value of the Fund‟s holding of unlisted securities must not exceed 10% of the Fund‟s NAV. The Fund is
allowed to invest up to 50% of the NAV of the Fund only in unlisted bonds and fixed income securities as well
as commercial papers traded in the money market.
Libra Invest Berhad
Master Prospectus
145
18. RELATED – PARTY TRANSACTIONS and CONFLICT OF INTEREST
Related-Party Transactions
The Management Company may from time to time transact through a broker related to it. Transactions with related
stock broking company will be entered into in the normal course of business and on terms and conditions that are
not materially different from that obtainable in transactions with unrelated parties. The dealings with the related
party will be transacted at arm‟s length basis.
As at 7 February 2014, none of LIB‟s directors and substantial shareholders has any direct or indirect interest in
other corporations carrying on a similar business as LIB.
Policy on Conflict of Interest
In the course of managing a Fund, the Management Company may face conflicts of interest in respect of its
respective duties to the Fund and duties to other unit trust funds under its management. In such an event, the
Management Company is obliged to act in the best interest of all the investors and will seek to resolve any conflict
of interest in accordance with the Deeds. LIB has formulated a Code of Conduct for the Investment Committee
Member in the following areas:




to avoid any actual or potential conflict of interest;
to avoid misuse of position of trust;
to prevent misuse of inside information; and
to ensure fair treatment of Unit Holders of the Funds.
The code of conduct aims to prevent any conflicts of interest arising from an investment committee member‟s or
LIB‟s private fund management practice and the Funds‟ investment activities. Trading in securities by the
employees, investment committee members and directors of LIB is allowed, provided that policies and procedures
in respect of the personal account dealing are observed. Further, all employees are also required to disclose their
portfolio holdings and transactions on dealings to the Management Company.
As Trustee for the Funds, Maybank Trustees Berhad (MTB) confirms to the best of its knowledge that it does not
have any related party transactions with the Funds (RPT Transactions). However should there be any, MTB will
ensure compliance with the relevant regulatory requirements and its internal procedures on RPT Transactions.
Related-Party Transactions/ Conflict of Interest
CIMB Islamic Trustee Berhad is the Trustee of the Fund, where applicable there may be proposed related party
transactions and/or conflict of interest involving or in connection with the Fund in the following events:
(a)
(b)
(c)
where the Fund invest in instrument(s) offered by CIMB Group;
where the Fund being distributed by CIMB Group as IUTA; and
where the assets of the Fund are being custodised by the CIMB Group both as custodian of the Fund
(i.e.Trustee‟s delegate).
The Trustee has in place policies and procedures to deal with any conflict of interest situation. The Trustee will not
make improper use of its position as the legal registered owner of the Fund's assets to gain, directly or indirectly,
and advantage or cause detriment to the interest of the Unit Holders.
Libra Invest Berhad
Master Prospectus
146
Related-Party Transactions/ Conflict of Interest
CIMB Commerce Trustee Berhad is the Trustee of the Fund, where applicable there may be proposed related party
transactions and/or conflict of interest involving or in connection with the Fund in the following events:
(a)
(b)
(c)
where the Funds invest in instrument(s) offered by CIMB Group;
where the Funds being distribute by CIMB Group as IUTA; and
where the assets of the Funds are being custodised by the CIMB Group both as sub-custodian of the
Funds (i.e. Trustee's delegate).
The Trustee has in place policies and procedures to deal with any conflict of interest situation. The Trustee will not
make improper use of its position as the legal registered owner of the Fund's assets to gain, directly or indirectly,
and advantage or cause detriment to the interest of the Unit holders.
Libra Invest Berhad
Master Prospectus
147
19. TAXATION ADVISER’S LETTER ON TAXATION OF THE FUNDS AND
UNITHOLDERS
(Prepared for inclusion in this Master Prospectus)
PricewaterhouseCoopers Taxation Services Sdn Bhd
Level 10, 1 Sentral, Jalan Travers
P.O.Box 10192
50706 Kuala Lumpur
The Board of Directors
Libra Invest Berhad
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
28 February 2014
TAXATION OF THE FUNDS OFFERED UNDER THE MASTER PROSPECTUS AND UNITHOLDERS
Dear Sirs,
This letter has been prepared for inclusion in the Master Prospectus dated 18 March 2014 and expires on 17 March
2015 in connection with the offer of units in Libra IncomeEXTRA Fund, Libra EquityEXTRA Fund, Libra
BondEXTRA Fund, Libra MoneyEXTRA Fund, Libra VersatileEXTRA Fund, Libra DividendEXTRA Fund, Libra
TacticalEXTRA Fund, Libra Consumer and Leisure Asia Fund, Libra Liquidity Fund, Libra Resource Equity Fund
(formerly known as Libra Canada Australia Resource Economies Fund), Libra SyariahEXTRA Fund, Libra Amanah
Saham Wanita and Libra ASnitaBOND Fund (“the Funds”).
The taxation of income for both the Funds and the Unit Holders are subject to the provisions of the Malaysian
Income Tax Act 1967 (“the Act”). The applicable provisions are contained in Section 61 of the Act, which deals
specifically with the taxation of trust bodies in Malaysia.
TAXATION OF THE FUNDS
The Funds will be regarded as resident for Malaysian tax purposes since the trustees of the Funds are resident in
Malaysia.
(1)
Domestic Investments
(i)
General Taxation
Subject to certain exemptions, the income of the Funds consisting of dividends, interest or profit 1 (other than
interest and profit1 which is exempt from tax) and other investment income derived from or accruing in Malaysia,
after deducting tax allowable expenses, is liable to Malaysian income tax at the rate of 25 per cent.
Gains on disposal of investments in Malaysia by the Funds will not be subject to income tax.
(ii)
Dividends and Other Exempt Income
Effective 1 January 2014, all companies would adopt the single-tier system. Hence dividends received would be
exempted from tax and the deductibility of expenses incurred against such dividend income would be disregarded.
There will no longer be any tax refunds available for single-tier dividends received. Dividends received from
companies under the single-tier system would be exempted.
The Funds may receive Malaysian dividends which are tax exempt. The exempt dividends may be received from
investments in companies which had previously enjoyed or are currently enjoying the various tax incentives
provided under the law. The Funds will not be taxable on such exempt income.
Libra Invest Berhad
Master Prospectus
148
Interest or discount income or profit1 derived from the following investments is exempt from tax:
(a)
(b)
(c)
Securities or bonds issued or guaranteed by the government;
Debentures2, other than convertible loan stocks, approved by the Securities Commission Malaysia; and
Bon Simpanan Malaysia issued by Bank Negara Malaysia.
Interest income or profit1 derived from the following investments is exempt from tax:
(a)
(b)
Interest or profit1 paid or credited by any bank or financial institution licensed under the Financial Services
Act 2013 and Islamic Financial Services Act 2013 with effect from 30 June 2013; and
Bonds, other than convertible loan stocks, paid or credited by any company listed in Malaysia Exchange of
Securities Dealing and Automated Quotation Berhad (now known as Bursa Malaysia Securities Berhad ACE
Market).
The interest income / profit1 or discount exempted from tax at the Funds‟ level will also be exempted from tax upon
distribution to the Unit Holders.
(2)
Foreign Investments
Income of the Funds in respect of income received from overseas investment is exempt from Malaysian tax by
virtue of Paragraph 28 of Schedule 6, of the Act and distributions from such income will be tax exempt in the hands
of the Unit Holders. Such income from foreign investments may be subject to foreign taxes or withholding taxes.
Any foreign tax suffered on the income in respect of overseas investment is not tax refundable to the Funds.
The foreign income exempted from Malaysian tax at the Funds‟ level will also be exempted from tax upon
distribution to the Unit Holders.
(3)
Tax Deductible Expenses
Expenses wholly and exclusively incurred in the production of gross income are allowable as deductions under
Section 33(1) of the Act. In addition, Section 63B of the Act provides for tax deduction in respect of managers‟
remuneration, expenses on maintenance of the register of Unit Holders, share registration expenses, secretarial,
audit and accounting fees, telephone charges, printing and stationery costs and postages. The deduction is based
on a formula subject to a minimum of 10 per cent and a maximum of 25 per cent of the expenses.
(4)
Real Property Gains Tax
With effect from 1 January 2014, any gains on disposal of real properties (“chargeable asset”) or shares in real
property companies3 (“chargeable asset”) would be subject to real property gains tax (“RPGT”)4 as follows:Disposal time frame
Within 3 years
In the 4th year
In the 5th year
In the 6th year and subsequent years
RPGT rates
30%
20%
15%
5%
TAXATION OF UNIT HOLDERS
Unit Holders will be taxed on an amount equivalent to their share of the total taxable income of the Funds to the
extent of the distributions received from the Funds. The income distribution from the Funds will carry a tax credit in
respect of the tax paid by the Funds. Unit Holders will be entitled to utilise the tax credit against the tax payable on
the income distribution received by them. No additional withholding tax will be imposed on the income distribution
from the Funds.
6
Corporate Unit Holders, resident5 and non-resident, will generally be liable to income tax at 25 per cent on
distribution of income received from the Funds. The tax credits attributable to the distribution of income can be
utilised against the tax liabilities of these Unit Holders.
Individuals and other non-corporate Unit Holders who are tax resident in Malaysia will be subject to income tax at
graduated rates ranging from 1 per cent to 267 per cent. Individuals and other non-corporate Unit Holders who are
not resident in Malaysia will be subject to income tax at 268 per cent. The tax credits attributable to the distribution
of income can be utilised against the tax liabilities of these Unit Holders.
Non-resident Unit Holders may also be subject to tax in their respective jurisdictions and depending on the
provisions of the relevant tax legislation and any double tax treaty with Malaysia, the Malaysian tax suffered may be
creditable against any foreign tax.
Libra Invest Berhad
Master Prospectus
149
The distribution of exempt income and gains arising from the disposal of investments by the Funds will be
exempted from tax in the hands of the Unit holders.
Any gains realised by Unit Holders (other than dealers in securities, insurance companies or financial institutions)
on the sale or redemption of the units are treated as capital gains and will not be subject to income tax. This tax
treatment will include gains in the form of cash or residual distribution in the event of the winding up of the Funds.
Unit Holders electing to receive their income distribution by way of investment in the form of new units will be
regarded as having purchased the new units out of their income distribution after tax.
Unit splits issued by the Funds are not taxable in the hands of Unit Holders.
We hereby confirm that the statements made in this report correctly reflect our understanding of the tax position
under current Malaysian tax legislation. Our comments above are general in nature and cover taxation in the
context of Malaysian tax legislation only and do not cover foreign tax legislation. The comments do not represent
specific tax advice to any investors and we recommend that investors obtain independent advice on the tax issues
associated with their investments in the Funds.
Yours faithfully,
for and on behalf of
PRICEWATERHOUSECOOPERS TAXATION SERVICES SDN BHD
Lim Phaik Hoon
Senior Executive Director
PricewaterhouseCoopers Taxation Services Sdn Bhd have given their written consent to the inclusion of their report
as taxation adviser in the form and context in which it appears in this Master Prospectus and have not, before the
date of issue of this Master Prospectus, withdrawn such consent.
_________________________________________________________________________________
1
Under section 2(7) of the Income Tax Act 1967, any reference to interest shall apply, mutatis mutandis, to gains or profits received and
expenses incurred, in lieu of interest, in transactions conducted in accordance with the principles of Syariah.
The effect of this is that any gains or profits received and expenses incurred, in lieu of interest, in transactions conducted in accordance with
the principles of Syariah, will be accorded the same tax treatment as if they were interest.
2
In practice, debentures have been interpreted to include Islamic securities as well. Under the Finance Act 2010, the tax exemption is given to
Islamic securities approved by Securities Commission.
3
A real property company is a controlled company which owns or acquires real property or shares in real property companies with a market
value of not less than 75 per cent of its total tangible assets. A controlled company is a company which does not have more than 50 members
and is controlled by not more than 5 persons.
4
5
Pursuant to the gazette order, P.U. (A) 415, Real Property Gains Tax (Exemption) Order 2012 revoked with effect from 1 January 2014.
Resident companies with paid up capital in respect of ordinary shares of RM2.5 million and below will pay tax at 20 per cent for the first
RM500,000 of chargeable income with the balance taxed at 25 per cent.
With effect from year of assessment 2009, the above shall not apply if more than (a)
50 per cent of the paid up capital in respect of ordinary shares of the company is directly or indirectly owned by a related company;
(b)
50 per cent of the paid up capital in respect of ordinary shares of the related company is directly or indirectly owned by the first
mentioned company;
(c)
50 per cent of the paid up capital in respect of ordinary shares of the first mentioned company and the related company is directly or
indirectly owned by another company.
“Related company” means a company which has a paid up capital in respect of ordinary shares of more than RM2.5 million at the beginning of
the basis period for a year of assessment (“YA”).
6
It was recently announced during the 2014 Budget that the Malaysian corporate income tax rate will be reduced to 24 per cent effective YA
2016.
7
It was recently announced during the 2014 Budget that the income tax rates for individual tax residents in Malaysia will be reduced to rates
ranging from 1 to 25 per cent effective YA 2015.
8
It was recently announced during the 2014 Budget that the income tax rate for non-resident individuals in Malaysia will be reduced to 25 per
cent effective YA 2015.
Libra Invest Berhad
Master Prospectus
150
20. ADDITIONAL INFORMATION
Investors Services
FOR MORE INFORMATION ON:




The Fund‟s NAV per Unit
Investment details
Liquidation details
Call us during our office hours at:

03-2089 1883 (Head Office)



04-656 6982 (Pulau Pinang)
05-255 5388 (Ipoh)
06-767 7277 (Seremban)



06-286 8289 (Melaka)
07-332 2148 (Johor Bahru)
09-744 4991 (Kota Bharu)


082-235 035 (Kuching)
088-253 030 (Kota Kinabalu)
Monday to Friday: 8.30 a.m. to 5.30 p.m.
(3.30 p.m cut-off time for unit transactions)


Or visit our website or send an e-mail to us at:

Website : www.librainvest.com

E-mail : invest@ecmlibra.com
In addition, the NAV per Unit is also available at:


Our Nationwide Investor Care & Service Centres
Manager‟s website
EVERY INVESTOR WILL BE PROVIDED WITH:

Investment confirmation
e.g. Units holding, NAV, payment details

Details of income distribution

Unaudited half-yearly interim report
e.g. Income distribution(if any) quarterly/ monthly/ half yearly/
annually/ incidental
e.g. Market review & outlook, Funds performance

Audited annual report
e.g. Market review & outlook, Funds performance
Libra Invest Berhad
Master Prospectus
151
21. CONSENTS
The Trustees, auditor, Shariah adviser, solicitors and principal bankers have granted their written consent to the
use of their names in this Master Prospectus. Prior to the issue of this Master Prospectus, the tax advisers have
given their written approval to inclusion of their names and the taxation adviser‟s letter. None of the aforesaid
consents have been withdrawn.
22. JURISDICTION
The offering of Units or the distribution of this Master Prospectus, in any jurisdiction where action would be required
for such purpose, is not permitted outside Malaysia. Accordingly, this Master Prospectus may not be used for the
purpose of a solicitation or offer in any jurisdiction or in any circumstances in which such solicitation and offer is
unauthorized.
23. DOCUMENTS AVAILABLE FOR INSPECTION
The following documents or copies thereof or other documents as may be required by the SC will be available for
inspection (without charge) for a period of not less than 12 months during normal business hours at the registered
office of the Management Company, where applicable:






The Deeds and supplemental deeds of the Funds;
Latest annual and interim reports of the Funds;
The audited accounts of the Management Company and the Funds for the current financial year (where
applicable) and the last three (3) financial years (or from the date of incorporation/ commencement if less
than 3 years), preceding the date of this Master Prospectus;
All reports, letters or other documents, valuations and statements by any expert, any part of which is
extracted or referred to in this Master Prospectus;
Writ and relevant cause papers for all current material litigation and arbitration disclosed in this Master
Prospectus; and
Consent of all experts or persons named in this Master Prospectus.
24. DIRECTORS’ RESPONSIBILITY STATEMENT
This Master Prospectus dated 18 March 2014 has been reviewed and approved by us, the directors of Libra Invest
Berhad and they collectively and individually accept full responsibility for the accuracy of the information. Having
made all reasonable enquires, they confirm to the best of their knowledge and belief, there are no false or
misleading statements, or omission of other facts which would make any statement in this Master Prospectus dated
18 March 2014 false or misleading.
Datuk Kamarudin bin Md Ali (Chairman & Independent Non-Executive Director)
Khairudin bin Ibrahim (Independent Non-Executive Director)
Mahadzir bin Azizan (Independent Non-Executive Director)
Gareth Lim Tze Xiang (Non-Independent Non-Executive Director)
Mohd Fadzil bin Mohamed (Chief Executive Officer/Non-Independent Executive Director)
Libra Invest Berhad
Master Prospectus
25. COMPANY DIRECTORY
Nationwide Investor Care & Services Centres
HEAD OFFICE
Ground Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
Fax: 603-2096 1020 / 603-2096 1662
PULAU PINANG
1-5-6, E-Gate
Lebuh Tunku Kudin 2
11700 Gelugor
Penang
Tel: 604-656 6982
Fax: 604-656 6503
KELANTAN – KOTA BAHRU
Lot 2-7, Tingkat 2 Bangunan MARA
Jalan Dato Pati
15000 Kota Bahru, Kelantan
Tel: 609-744 4991
Fax: 609-744 5991
PERAK - IPOH
C-2-1 (Room 3), 2nd Floor
No.2, Persiaran Greentown 3
Greentown Business Centre
30450 Ipoh, Perak.
Tel: 605-255 5388
Fax: 605-243 8616
SABAH – KOTA KINABALU
Unit No 1005, 10th Floor,
Wisma Merdeka, Phase 1
88000 Kota Kinabalu, Sabah
Tel: 088-253 030
Fax: 088-263 030
NEGERI SEMBILAN – SEREMBAN
No. 43 (Bawah)
Jalan Tunku Hassan
70000 Seremban, Negeri Sembilan
Tel: 606-767 7277
Fax: 606-763 3368
SARAWAK – KUCHING
1st Floor Lot 2713 No. 343
Central Park Commercial Centre
Jalan Tun Ahmad Zaidi Adruce
93250 Kuching, Sarawak
Tel: 082-235 035
Fax: 082-238 035
MELAKA
2nd Floor, 73B,
Jalan Merdeka
Taman Melaka Raya
75000 Melaka
Tel: 606-286 8289
Fax: 606-286 8200
JOHOR – JOHOR BAHRU
No. 105 Jalan Meranti Merah
Taman Melodies
80250 Johor Bahru, Johor
Tel: 607-332 2148
Fax: 607-335 0426
AUTHORISED DISTRIBUTORS:
 Kenanga Investment Bank Berhad
8th Floor, Kenanga International
Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 603-2164 9080
Fax: 603-2161 4990
 Phillip Mutual Berhad
B-2-7, Megan Avenue II
No. 12, Jalan Yap Kwan Seng
50450 Kuala Lumpur
Tel: 603-2783 0300
Fax: 603-2711 3036
 iFAST Capital Sdn Bhd
No. 30 Jalan Sultan Ismail
50250 Kuala Lumpur
Tel: 603-2149 0660
Fax: 603-2143 1218
152
Libra Invest Berhad
Master Prospectus
153
oneINVEST
Investment Form
PLEASE COMPLETE THE FORM BY USING CAPITAL LETTERS
Principal Applicant/ Holder:
Holder Account No:
Joint Applicant/ Holder:
Contact No:
TYPE OF INVESTMENT AND FUND ALLOCATION
Initial Investment
(Please tick (√) where appropriate)
Additional Investment
Fund
OFFICE USE
Forward Price
Gross Value (RM)
Distribution Instruction
Reinvest
Pay by cheque
Total Investment
Entry Fee
(
%)
Net Investment
P A Y M E N T M O D E (Please tick (√) where appropriate)
Cash
Deposit / Transfer to:
Bank / Cheque No:
Others:
Maybank
Date / Time:
Standard Chartered Bank
Others
PRE-QUALIFICATION DECLARATION
( A p p l i c a b l e
f o r
w h o l e s a l e
f u n d s
o n l y )
I/We hereby confirm that I am/We are qualified investors(s)*
Yes
No
* Only a “Qualified Investor” may invest in a Wholesale Fund. Please see overleaf for the definition of “Qualified Investor” (Item 6)
SIGNATURE
I/We have read and fully understood the contents of the Loan Financing Risk Disclosure Statement as well as the terms and conditions in this Form, the Fund/s
Prospectus, Information Memorandum, Deed/s and any Supplemental Prospectus/Information Memorandum/ Deed(s) issued thereafter. I/We wish to invest in the
abovementioned Fund/s and agree to abide by the mentioned terms and conditions including any amendments made thereto from time to time. I/We further acknowledge
that I/we have received a duplicate copy of this Form which sets out the applicable terms and conditions as well as the Loan Financing Risk Disclosure Statement. I
am/We are aware of the fees and charges that will be incurred by me/us directly or indirectly when investing in a Fund as disclosed in the Fund‟s Prospectus, Information
Memorandum, Deed(s) and any Supplemental Prospectus/Information Memorandum/ Deed(s) issued thereafter.
I/We acknowledge that Libra Invest Berhad accepts the investment into the Fund on the basis of this Declaration. I/We also confirm that this Declaration is accurate as to
the matter stated herein and am/are prepared to furnish documentary evidence to establish the accuracy of this Declaration. In any event, I/We agree to indemnify Libra
Invest Berhad in respect of any costs and penalties, or any other losses, which it may suffer or incur in the event of this Declaration being untrue or incorrect in any way.
I/We confirm that this investment is not funded by gains received or derived from any unlawful activities.
Please affix Company Stamp if applicable
Signature:
Signature:
Signature:
Signature:
Name:
Name:
Name:
Name:
NRIC/ Passport:
NRIC/ Passport:
NRIC/ Passport:
NRIC/ Passport:
Date:
Date:
Date:
Date:
In accordance with the requirements of the Capital Markets and Services Act 2007, this Application Form shall not be circulated unless
accompanied by the Fund’s Prospectus, Information Memorandum and any Supplemental Prospectus/Information Memorandum issued
thereafter. All transaction forms transmitted via fax are to reach the Management Company before 3.30 pm for it to take effect on the same
day. The ORIGINAL transaction forms must be mailed to the Management Company at -
LIBRA INVEST BERHAD
Ground Floor, Bangunan ECM Libra, 8 Jalan Damansara Endah, Damansara Heights, 50490 Kuala Lumpur
Tel No.: 03-2089 1888 (General Line)
Fax No.: 03-2096 1020 /
03-2089 1883 (Investor Care Line)
03-2096 1662
OFFICE USE
FOR SERVICE PERSONNEL
AUTHORISED OFFICERS
Day & Date:
Processed by :
Transaction Date:
Outlet & Code:
Checked by:
Transaction No:
Attended / Received by:
Notes:
Notes:
LIBRA INVEST BERHAD
(361207-D)
LOAN FINANCING RISK DISCLOSURE STATEMENT
Investing in a Unit Trust Fund with Borrowed Money is More Risky than Investing with Your Own Savings.
You should assess if loan financing is suitable for you in light of your objectives, attitude to risk and financial circumstances. You should be aware of the risks, which would include the following:
1.
The higher the margin of financing (that is, the amount of money you borrow for every ringgit of your own money that you put in as deposit or down payment) the greater the potential for losses
as well as gains.
2.
You should assess whether you have the ability to service the repayments on the proposed loan. If your loan is a variable rate loan, and if interest rates rise, your total repayment amount will be
increased.
3.
If unit prices fall beyond a certain level, you may be asked to provide additional acceptable collateral or pay additional amounts on top of your normal installments. If you fail to comply within the
time prescribed, your units may be sold to settle your loan.
4.
Returns on unit trusts are not guaranteed and may not be earned evenly over time. This means that there may be some years where returns are high and other years where losses are
experienced. Whether you eventually realise a gain or loss may be affected by the timing of the sale of your units. The value of units may fall just when you want your money back even though the
investment may have done well in the past.
This brief statement cannot disclose all the risks and other aspects of loan financing. You should therefore carefully study the terms and conditions before you decide to take the loan. If you are in doubt
in respect of any aspect of this risk disclosure statement or the terms of the loan financing, you should consult the institution offering the loan. Shariah-compliance unit trust fund‟s investor is advised to
seek for Islamic financing to finance their acquisition.
TERMS AND CONDITIONS
1.
Application and Remittance

Payment may be made by cash, telegraphic transfer, cheques or cashier‟s order.

All cheques / cashier‟s order must be made payable to Libra Invest Berhad and crossed „Account Payee Only‟. Please ensure that the applicant‟s name, holder no. (if known) and contact no.
are written on the reverse side of the cheque or cashier‟s order.

A copy of the bank-in slip / banking evidence must be sent together with the Investment Form directly to the Management Company. Please ensure that the applicant‟s name, holder no. (if
known) and contact no. are written on the reverse side of the bank-in slip / banking evidence.

Units will be priced at NAV based on the date of receipt of the duly completed Investment Form by the Management Company. Units will be credited upon clearance of payment.

The applicant confirms that the Management Company may issue a cheque to settle any redemption and send to the last registered address of the Principal Holder. In the absence of any
instructions, the applicant hereby authorizes Libra Invest Berhad (formerly known as Avenue Invest Berhad) to automatically reinvest any distributions in the relevant Fund(s).
2.
Right of the Management Company

The Management Company reserves the right to reject any application in whole or in part without assigning any reason. Rejected applicants will be notified and the Management Company
will refund their money within 14 days from the date of receipt of the Investment Form. Payment will be made to the Applicant‟s/ Holder‟s name by a crossed cheque.

3.
All future terms and conditions, amendments are deemed to be valid.
Issuance of Official Receipt and Statement of Accounts

A confirmation note will be issued to Holders within 14 business days from the date of investment.

Statement of Accounts detailing all active accounts will be issued to Holders periodically.

All correspondence will be directed to the Principal Holder at the last known address.

All items and balances shown in the confirmation notes and Statement of Accounts will be considered correct unless the Management Company is notified in writing of any discrepancy within
14 days from the date of the confirmation notes and Statement of Accounts.
4.
Future Transactions and Payments

The Management Company upon evidence of receipt of money will process all investments without verifying the source of remittance. To protect your interest as a Holder, you must fill up
an Investment Form when making investments and attach it with your payment.

All investments and transactions will be carried out according to the instructions of authorised signatory specified in the Holder Account Opening Form or any subsequent written notice duly
received by the Management Company. Transactions are subject to the availability of units of the Fund.

Should there be any additional investment not accompanied by an instruction for allocation into the appropriate Funds, the Management Company shall have the right to allocate the said
investment according to the manner specified in the Investment Form for the initial investment or any subsequent written notice duly received by the Management Company. For any
allocation of investment into a particular fund below the minimum investment required, the Management Company reserves the right to reject or rectify the said investment allocation in
order to comply with the minimum requirement.

For lump sum investment with deferred entry fee, the deduction of chargeable entry fee from the account in the form of units will be done automatically every calendar quarter. No advice
will be issued. The chargeable entry fee will be deducted from units of a fixed income fund or from units of the larger fund in terms of market value at Management Company‟s discretion.
5.
Liquidation of Units and Cooling-Off

Holders may liquidate their units by filling up the Liquidation Form and forwarding the duly signed original form to the business address of the Management Company or its appointed
distributors.

Units shall be liquidated based on the NAV calculated at the end of the business day upon receipt of a duly completed Liquidation Form by the Management Company.

To protect the interests of the Holders, the Management Company is unable to make payments to third parties. Unless otherwise specified, all payments will be made to the Principal Holder
only.

Liquidation proceeds may be credited directly to the Holder‟s Maybank account. If other modes of payment are selected, kindly allow sufficient time for the cheques to reach the Holders
and/or for the funds to clear.

A Cooling-Off period of 6 business days from the date of application for units is provided for the Holder to confirm the initial investment. This right is not applicable for subsequent
investments of the Holder and is not extended to corporate/institutional investors, investors who are staff/distributors of the Management Company or investors who invest under the EPF
Members‟ Investment Scheme.
6.
Pre-Qualification Declaration

Only a “Qualified Investor” may invest in a Wholesale Fund. The SC Guidelines on Wholesale Funds defines “Qualified Investor” as individual whose total net personal assets exceed RM3
million or its equivalent in foreign currencies; or a corporation with total net assets exceeding RM10 million or its equivalent in foreign currencies based on the last audited accounts; or a
unit trust scheme or prescribed investment scheme; or a company registered as a trust company under the Trust Companies Act 1949 which has discretion in the investment of trust assets
of a trust with total net assets exceeding RM10 million or its equivalent in foreign currencies; or a corporation that is a public company under the Companies Act 1965 or under the laws of
any other country, which has been allowed by the SC to be a trustee for the purposes of the CMSA and has discretion in the investment of trust assets of a trust with total net assets
exceeding RM10 million or its equivalent in foreign currencies; or a pension fund approved by the Director General of Inland Revenue under section 150 of the Income Tax Act 1967; or a
holder of a Capital Markets Services Licence carrying on the business of dealing in securities; or any other fund manager; or a person who acquires securities pursuant to an offer, as
principal, if the aggregate consideration for the acquisition is not less than RM250,000 or its equivalent in foreign currencies for each acquisition; or a licensed institution; or an Islamic
bank; and an insurance company licensed under the Insurance Act 1996.
Please note that this Declaration is not the only term relating to investments into a Wholesale Fund. Investors are advised to read and understand the Information Memorandum and
Supplemental Information Memorandum(s) (if any) for additional terms including but not limited to, minimum initial and subsequent investment amount.
A p p l i c a t i o n
Ch e c k l is t
( O f f i c e
U s e )
Cheque payable as note 1 above
Principal Holder‟s name & Holder A/C No. on cheque / BIS
No post dated / stale cheque
Entry Fee included
Signatures
Staff Code
Office Use Column
A/C Opening Form (new holder)
Gound Floor
Bangunan ECM Libra
Damansara Heights
50490 Kuala Lumpur
Fax: 603-2096 1020 / 603-2096 1662
e-mail: invest@ecmlibra.com
www.librainvest.com

avenue invest berhad

Transcription

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