prulink funds - prudential malaysia funds report and statement of the manager for the year ended 31...

PRUlink fundsReport And Statement Of The ManagerFor The Year Ended 31 December 2014Laporan Dan Penyata Pengurus Bagi

Tahun Berakhir 31 Disember 2014

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• Equity Fund

• Bond Fund

• Managed Fund

• Managed Fund II

• Golden Equity Fund

• Golden Bond Fund

• Golden Managed Fund

• Education Equity Fund

• Education Bond Fund

• Dana Unggul

• Dana Aman

• Dana Urus

• Dana Urus II

• Asia Managed Fund

• Asia Property Securities Fund

• Asia Local Bond Fund

• Global Market Navigator Fund

• Dragon Peacock Fund

• Asia Equity Fund

• MyOptimizer Fund

• Commodity Allocator Fund

• Commodity Allocator II Fund

• Dyna Growth I Fund

• Dyna Growth II Fund

• Dyna Growth III Fund

• Dyna Growth IV Fund

• Money Market Fund

• Golden Equity Fund II

• Golden Bond Fund II

001 CEO’s Message

002 Funds’ Objectives

004 Investment Review & Outlook

008 Funds’ Performance

011 Financial Highlights

082 Statement of Assets and Liabilities

111 Statement of Changes in Net Asset Value

126 Statement of Income and Expenditure

155 Notes to the Financial Statements

160 Perutusan Ketua Pegawai Eksekutif

162 Objektif Dana

164 Tinjauan & Masa Depan Pelaburan

169 Prestasi Dana

172 Sorotan Kewangan

243 Penyata Aset dan Liabiliti

272 Penyata Perubahan dalam Nilai Aset Bersih

287 Penyata Pendapatan dan Perbelanjaan

316 Nota pada Penyata Kewangan

Dear Valued Policyholder,

Last year marked Prudential Assurance Malaysia Berhad’s (PAMB) 90th anniversary here in Malaysia. It was a particularly meaningful year as we announced our commitment of RM50 million towards the development of our Corporate Social Responsibility (CSR) programme which is aimed at building a financially literate and resilient Malaysian society.

Our business helps people achieve their hopes and dreams through sound advice and proper financial planning, and we believe basic financial literacy and financial protection are the keys to a brighter future. That is why we have focused our efforts on these areas so we can use our skills and knowledge to make a positive contribution and achieve a meaningful impact on society.

We also remained true to our aspiration of delivering innovative financial solutions through enhancing our best-selling female protection plan, PRUlady and launching the first of its kind cancer plan in the market, PRUcancer plan.

In another stride to enhancing the customer experience, we introduced PRUaccess, a smart phone based application. It provides our customers with a one stop solution to access PAMB’s full listing of panel hospitals with navigation details to their preferred hospital and so much more.

This year, we aim to continue to uphold our mission of delivering financial freedom and peace of mind to all Malaysians. We launched PRUvalue med earlier this year with the knowledge that health care is getting more expensive and the need for medical care becomes even more paramount as we age. PRUvalue med offers more value for your money by providing more savings, protection and benefits. As the cost of healthcare is ever on the rise, it is important to ensure you have sufficient medical insurance. We encourage you to conduct a thorough review of your policy with your Prudential Wealth Planner, agent or Financial Services Consultant to ensure your current and future medical needs are met.

As your preferred insurer, we remain committed to delivering value to your policy. On this note, I am pleased to report that in spite of the challenging economic environment, Prudential has been able to deliver positive returns for most of our PRUlink funds (investment-linked insurance funds).

Two funds that did relatively well last year were PRUMoney Market and PRUGolden Bond Fund II which outperformed the benchmark return by more than 1.50% and 1.1% respectively.

Another fund that did exceptionally well was PRUlink Global Market Navigator which beat the benchmark return by 3.51%. Please see page 8-10 for full details of the funds’ performance.

Fund SwitchingAs you know, your investment-linked insurance policy is intended to meet your long-term financial goals and protect your family’s financial future. We understand that your situation in life and your corresponding needs may change along the way. It is for this reason that our investment-linked insurance plans have been designed to provide you with the option of directing your premium or fund value to a choice of different PRUlink funds at any time during the term of your policy via our fund switching1 facility.

Fund switching enables you to shift your existing units from an existing fund without affecting your future premium allocation. With this facility, you can react to market trends or changes to your investment goals by switching to a fund that matches your risk appetite. The first four switches within the same year are free. Please be reminded though that your investment-linked insurance policy is a long term investment and should not be viewed as a vehicle for short term speculation.

Green and Sustainable EnvironmentIn our efforts to go green and create a more sustainable environment, we encourage you to sign up for the e-Report which enables you to receive your future PRUlink Funds Report through email. I strongly urge you to make the switch if you have not already done so. To learn more, visit www.prudential.com.my/e-report.

Meanwhile, if you have any questions regarding your policy or investments or if you would like to use our fund switching facility, please do not hesitate to call on your Prudential Wealth Planner, agent or Financial Services Consultant. You may also contact our Customer Service Representatives at 03-2116 0228, send your queries to [email protected], or visit the nearest branch. We will be pleased to assist you.

Best wishes for a prosperous, healthy and peaceful year ahead.

Yours sincerely,

Philip SeahChief Executive OfficerPrudential Assurance Malaysia Berhad

1Fund switching facility is not available for PRUlink MyOptimizer Fund. 1PRUlink funds

PRUlink Equity Fund aims to maximise returns over medium to long term by investing in high quality shares listed on the Bursa Malaysia.

PRUlink Bond Fund aims to provide medium to long term accumulation of capital by investing in selected fixed interest securities, corporate bonds and fixed deposits.

PRUlink Managed Fund / PRUlink Managed Fund II is a managed fund that seeks to maximise returns over medium to long term by investing in shares and fixed interest securities through PRUlink Equity Fund and PRUlink Bond Fund and in any other PRUlink funds that may become available in the future.

PRUlink Golden Equity Fund aims to maximise returns over medium to long term, taking into account the need to meet guaranteed payouts. This is achieved by investing in high quality shares listed on Bursa Malaysia and any other financial instruments to be used for hedging the portfolio.

PRUlink Golden Bond Fund aims to provide medium to long term accumulation of capital, taking into account the need to meet guaranteed payouts. This is achieved by investing in selected fixed interest securities, corporate bonds and fixed deposits, and any other financial instruments to be used for hedging the portfolio.

PRUlink Golden Equity Fund II aims to maximise returns over medium to long term, taking into account the need to meet guaranteed payouts. This is achieved by investing in high quality shares listed on Bursa Malaysia and any other financial instruments to be used for hedging the portfolio.

PRUlink Golden Bond Fund II aims to provide medium to long term accumulation of capital, taking into account the need to meet guaranteed payouts. This is achieved by investing in selected fixed interest securities, corporate bonds and fixed deposits, and any other financial instruments to be used for hedging the portfolio.

PRUlink Education Equity Fund aims to maximise returns over medium to long term, taking into account the need to meet guaranteed payouts. This is achieved by investing in high quality shares listed on Bursa Malaysia and any other financial instruments to be used for hedging the portfolio.

PRUlink Education Bond Fund aims to provide medium to long term accumulation of capital, taking into account the need to meet guaranteed payouts. This is achieved by investing in selected fixed interest securities, corporate bonds and fixed deposits, and any other financial instruments to be used for hedging the portfolio.

PRUlink Dana Unggul aims to maximise returns over medium to long term by investing in high quality Shariah-approved shares listed on Bursa Malaysia.

PRUlink Dana Aman aims to provide medium to long term accumulation of capital by investing in selected Islamic debt securities.

PRUlink Dana Urus / PRUlink Dana Urus II is a managed fund that seeks to maximise returns over medium to long term by investing in Shariah-approved shares and Islamic debt securities through PRUlink Dana Unggul and PRUlink Dana Aman and in any other such PRUlink funds that may become available in the future.

PRUlink Asia Managed Fund is an actively managed fund that seeks to maximise returns over medium to long term. This is achieved by investing directly in shares, fixed interest securities and money market instruments in the Asia Pacific ex Japan region through any other PRUlink Global Funds that may become available in the future or indirectly via sub-funds managed by Eastspring Investments (Singapore) Limited or any other fund manager to be determined from time to time.

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PRUlink Asia Property Securities Fund is an actively managed fund that seeks to maximise income and long-term total return. This is achieved by investing in listed Real Estate Investment Trusts (REITS) and property related securities of companies, which are incorporated, listed or have their area of primary activity in the Asia Pacific region including Japan, Australia and New Zealand. The fund may also invest in depository receipts, debt securities convertible into common shares, preference shares and warrants and through any other PRUlink Global Funds that may become available in the future or indirectly via sub-funds managed by Eastspring Investments (Singapore) Limited or any other fund manager to be determined from time to time.

PRUlink Asia Local Bond Fund aims to maximise total returns. This is achieved by investing in a diversified portfolio consisting primarily of fixed income or debt securities issued by Asian entities that are rated as well as unrated directly and/or indirectly via sub funds managed by Eastspring Investments (Singapore) Limited or any other fund manager to be determined from time to time.

PRUlink Global Market Navigator Fund is an actively managed fund that aims to achieve positive absolute returns over the medium-term, through the implementation of an actively managed asset allocation strategy in a diversified range of global assets including cash, equities, bonds and currencies. Exposure to each asset classes will be primarily through exchange traded funds, index futures, direct equity and bonds, swaps, options and foreign exchange forwards, each of which may be traded through recognised exchanges or via the over-the-counter markets. The use of derivatives is for efficient portfolio management to gain access to the markets efficiently in a cost effective manner.

PRUlink Dragon Peacock Fund is a fund that aims to maximise long-term total return by investing primarily in equity and equity-related instruments of corporations, which are incorporated in, or listed in, or operating principally from, or carrying on significant business in, or derive substantial revenue from, or whose subsidiaries, related or associated

corporations derive substantial revenue from the People’s Republic of China (PRC) and India.

PRUlink Asia Equity Fund is a fund that aims to maximise long-term total return by investing in equity and equity-related securities of companies, which are incorporated, or have their area of primary activity in Asia Pacific ex-Japan. The Asia Pacific ex-Japan region includes but is not limited to the following countries: Korea, Taiwan, Hong Kong, Philippines, Thailand, Malaysia, Singapore, Indonesia, the People’s Republic of China (PRC), India, Pakistan, Australia and New Zealand. The fund may also invest in depository receipts [including American Depository Receipts (ADRs) and Global Depository Receipts (GDRs)], debt securities convertible into common shares, preference shares and warrants.

PRUlink MyOptimizer Fund is a 5-year close-ended fund with capital guaranteed at maturity by Prudential Assurance Malaysia Berhad. The Fund invests in a structured deposit which provides investors with exposure to (1) Malaysian fixed income securities and (2) multiple asset classes such as global equities, commodities, bonds and cash-like instruments. PRUlink MyOptimizer Fund aims to achieve the highest risk adjusted returns to provide potential upside, if any, in the form of yearly performance bonus to investors while protecting 100% of the capital at maturity.

PRUlink Commodity Allocator Fund is a 3-year 9-month close-ended fund with capital guaranteed at maturity by Prudential Assurance Malaysia Berhad. The Fund invests in a structured deposit which is based on the performance of Deutsche Bank Liquid Commodity Index (“DBLCI”) Allocator 4TM Index. This structured deposit provides investors with exposure to (1) Malaysian fixed income securities and (2) a wide range of commodities under a long only strategy and/or a market neutral strategy. PRUlink Commodity Allocator Fund pays a guaranteed special bonus at the end of 18 months. It also aims to achieve high returns to provide potential upside, if any, in the form of maturity bonus while protecting 100% of the capital at maturity.

PRUlink Commodity Allocator II Fund is a 3-year 9-month close-ended fund with capital guaranteed at maturity by Prudential Assurance Malaysia Berhad. The Fund invests in a structured deposit which is based on the performance of Deutsche Bank Liquid Commodity Index (“DBLCI”) Allocator 4TM Index. This structured deposit provides investors with exposure to (1) Malaysian fixed income securities and (2) a wide range of commodities under a long only strategy and/or a market neutral strategy. PRUlink Commodity Allocator II Fund pays a guaranteed special bonus at the end of 18 months. It also aims to achieve high returns to provide potential upside, if any, in the form of maturity bonus while protecting 100% of the capital at maturity.

PRUlink Dyna Growth I/II/III/IV Fund invests in structured deposits. These structured deposits provide investors with exposure to (1) Malaysian fixed income securities and (2) multiple asset classes such as global equities, real estates, commodities, foreign exchange and alternative investments. The PRUlink Dyna Growth Funds aim to maximise risk adjusted returns and to grow the value of the funds to the lifetime highest values at maturity.

PRUlink Money Market Fund aims to preserve capital value while providing returns which are comparable to short term bank deposits. Apart from minimal risk exposure, the fund also maintains a high degree of liquidity by investing primarily in high quality, low risk, short-term money market instruments and debt securities. Although the fund seeks to preserve the principal value, the ability of the fund to meet this objective is not guaranteed.

PRUlink Golden Managed Fund is a managed fund that seeks to maximise returns over medium to long term. This is achieved by investing in shares and fixed interest securities through PRUlink Golden Equity Fund and PRUlink Golden Bond Fund and in any other PRUlink funds that may become available in the future.

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Global markets had a weak start to 1Q2014 and the FBM KLCI was not spared by the regional sell-off due to fears of weak emerging market currencies and the potential contagion effect. The Malaysian Ringgit depreciated by almost 2% month-on-month against the US Dollar as at end January 2014. However, the Malaysian equity market rebounded but gains were capped as the February reporting season was not very encouraging. By end 1Q2014, the news of the disappearance of MH370 resulted in some weakness, but the FBM KLCI managed to recoup some of the losses.

The US equity markets corrected early 2Q2014 on concerns that valuations for technology stocks were too high following the start of the earnings reporting season, however, rebounded soon after to end the quarter on a high note, hitting new highs during the quarter. Investors in Malaysia continued to focus on the small cap stocks, however there was some consolidation mid 2Q2014 when the corporate earnings released during the quarter were not inspiring with many coming in below expectations in the Automotive and Oil and Gas sectors. Nevertheless, the FBM KLCI continued its uptrend in tandem with global markets, hitting new highs during the period.

The 3Q2014 started off with a correction in the US markets, in tandem with global markets, on the back of weaker corporate results reported. Global markets continued to be on edge during the month due to the heightened geo-political risk with the conflict in Gaza region and the increasing tensions with Russia post the

MH17 tragedy. In Malaysia, corporates that released their financial results during the period were generally either in line or disappointing versus consensus expectations, with disappointing results from key sectors such as oil and gas, banking and finance, and plantation. Equity markets ended lower by the end of the 3Q2014 on the back of concerns of the timing over the US Federal Reserve rate hikes, and global growth concerns starting to weigh on sentiment. The 4Q2014 started off weak globally, as investors were concerned over the continued conflict in Iraq and Ukraine and the Ebola health scare. However Wall Street rebounded sharply on the back of better US corporate earnings and improving economic data both from the US and Euro zone. Global equity markets remained volatile for most of the 4Q2014 as investors witnessed sharp declines in crude oil prices on the back of OPEC’s decision to maintain their output levels, and the strength of the US Dollar against most other currencies. 4Q2014 was a weak quarter for Malaysia as the sharply lower oil prices and weaker currency saw the KLCI sustain at levels below the psychological 1800 level. Corporate earnings reported in 4Q2014 remained disappointing and the oil and gas sector in particular was under a lot of pressure with the weak crude oil prices, and the negative implications on future capex for the industry. Malaysia ended the 4Q2014 on a sad note, with yet another airline tragedy, the crash of Air Asia flight QZ8501 from Surabaya, Indonesia to Singapore.

The FBM KLCI closed the year under review at 1,761.3 points, down 5.66%. The broader FBM Emas Index closed the period under review lower by 6.13%. The MSCI Asia Pacific ex-Japan Index declined by 0.2% in USD terms.1

Local equity market review(1 January 2014 – 31 December 2014)

1Source: Bloomberg: World indices

Indonesia, Philippinesand India were the topthree markets in 2014

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Global equity markets remained volatile for most of the 4Q2014.

Equity Market Outlook

Global markets may continue to be volatile in 2015 with less predictable monetary policy decisions, continued weaker commodity prices, and increased geo-political risks. However, the US economic data of late has been stronger than expected, and other major economies seem to show tentative signs of turning around.

Domestically, 2015 will likely see continued softening of consumer demand, as consumers become more cautious on spending with the weaker currency, and the impending GST implementation. However, the lower crude oil prices whilst may not be beneficial for the Malaysian government’s revenue, should provide some reprieve to the cost of living for the man on the street as petrol and diesel are now pegged to market prices.

Despite our overall cautious view on the Malaysia market next year, we believe the difficult steps the government is taking towards fiscal consolidation is a necessary one. Nevertheless the impending rate hike in the US mid 2015 will add pressure to an already weak ringgit, and equities with high foreign holdings may continue to see selling pressure. Barring any unforeseen shocks, we expect the corporate earnings growth to drive a better market performance in the second half. We remain mindful of the risks of the weakness of the ringgit, continued foreign outflows, and how long crude oil prices will remain below USD60/bbl.

Annual Bond Market Review(1 January 2014 – 31 December 2014)

In the first half of 2014, Malaysia’s economic growth performed strongly on surging exports, growing 6.2% yoy and 6.5% yoy in the first and second quarters respectively. Inflation was also relatively elevated in the range of 3.2% - 3.5% in the first 6 months of 2014, on supply disruptions and higher domestic costs. Additionally, Malaysia’s household debt reached a relatively high level of about 87%

of GDP by end 2013 - this concern was alluded to in BNM’s MPC meeting on 8 July, where it expressed concern about a continued build up of financial imbalances.

At the MPC meeting on 10 July, BNM raised the OPR by 25 basis points to 3.25%, which marked the first OPR change since July 2011. The MPC decided to adjust the degree of monetary accommodation on firm growth prospects and inflation remaining above its long run average. The adjustment also aimed to address broader economic and financial imbalances that could undermine the Malaysian economy’s growth prospects.

At the MPC meeting on 18 September, BNM maintained the OPR at 3.25%, opting to monitor the balance of risks surrounding growth and inflation as well as the risks of destabilizing financial imbalances before making any further changes to the OPR. At the MPC meeting on 6 November, BNM again maintained the OPR at 3.25% on a more cautious outlook for economic growth and moderating inflationary conditions. Expectations of a hike in OPR are now deferred to 2H 2015. If economic growth turns out to be weaker than expected, the timing of a rate hike is tilted towards further delays.

Headline inflation eased from 3.2% yoy in December 2013 to 3.0% in November 2014. The drop was mainly driven by a fall in food and non alcoholic beverages inflation, which fell from 4.5% yoy in December 2013 to 2.9% yoy in November 2014. Inflation is projected to edge higher in 2015 on domestic cost factors, particularly the introduction of the Goods and Service Tax. The absence of external price pressures and more moderate demand conditions are expected to mitigate the impact of these cost factors on inflation.

The price of crude oil continued falling in December after its dramatic collapse in November on OPEC’s decision not to cut production to support prices. Falling oil prices have fuelled concerns that the Malaysian government’s target to

reduce the fiscal deficit to 3% of GDP in 2015 from 3.5% in 2014 will prove more difficult to achieve as it may negatively impact the Malaysian economy and fiscal position if Petronas cuts back on its dividend payments to the government.

Falling oil prices could also hurt Malaysia’s current account surplus, which came in at RM7.6bn as at September 2014, the lowest since June 2013.The ringgit fell to its lowest level in more than 5 years by early January 2015. A weakening ringgit could temper foreign investors’ appetite for Malaysian government bonds going forward. Foreign holdings of Malaysian debt securities dropped 5.8% (~RM14.5bn) in Nov 2014 to RM 236.5bn, the largest drop since September 2011.

For the period under review, the 3-, 5- and 10-year sovereign bond yields changed by 28bps, 15bps and -3bps close at 3.63%, 3.83% and 4.08% respectively. Shorter tenor MGS rose during the year on the OPR hike by BNM in July as well as the falling oil price in late 2014, which fuelled concerns that the government would fail to achieve its deficit target. Corporate bond yields generally moved in tandem with sovereign bond yields, albeit at a lag. Activities in the corporate bond market were supported by ample liquidity and a stable credit environment.

On the supply front, total outstanding MYR issuances at the end of December 2014 stood at about RM 1,111bn, of which approximately 48.0% was conventional and 51.9% was Islamic. The proportion of corporate sukuk in the sukuk universe was higher at about 36% compared to the proportion of corporate bonds in the conventional bonds universe of about 23%. Major primary issuances were from the banking, and power sectors as well as government guaranteed issuances. Major issuances included RM 7.6bn from DanaInfra Nasional Berhad, RM 5.1bn from Malayan Banking and RM 4.5bn from Perbadanan Tabung Pendidikan Tinggi Nasional.

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Bond Market Outlook

At the MPC meeting on 6 November, BNM maintained the OPR at 3.25%. The MPC stated that the current stance of monetary policy is accommodative and is appropriate given the developments in monetary and financial conditions. Bank Negara appeared more dovish than at its September meeting, and expectations of a hike in OPR are now deferred to 2H 2015. If economic growth turns out to be weaker than expected, the timing of a rate hike is tilted towards further delays.

Falling oil prices had fuelled concerns that the Malaysian government’s target to reduce the fiscal deficit to 3% of GDP in 2015 from 3.5% in 2014 will prove more difficult to achieve as it may negatively impact the Malaysian economy and fiscal position if Petronas cuts back on its dividend payments to the government. On 20th January 2015, the Prime Minister Dato Seri Najib Razak, revised the Budget 2015 targets, on the back of lower crude oil prices than initially assumed. The revised budget assumptions were more realistic at USD55/bbl for 2015 (versus USD100/bbl initially). He also announced an inflation forecast of 2.5-3.5% for 2015 (previously 4-5%).

In light of the falling oil prices, volatile capital flows, and worsening global economic outlook, the Prime Minister announced that Malaysia’s fiscal deficit target would be revised to 3.2% of GDP in 2015 (lower than the 3.5% in 2014) but still in line with the Government’s commitment to fiscal consolidation; and Operating Expenditure is expected to be reduced by RM5.5bn, but development expenditure for 2015 will be fully maintained. The revised fiscal deficit target is expected to increase government bond supply by ~RM2bn to ~RM98bn, which is a marginal increase. We take comfort in the fact that the government remains committed to fiscal consolidation.

The threat of a sovereign downgrade by Fitch when it reviews Malaysia’s rating in 1H2015 is a key risk to the bond market. The silver lining is the divided views on Malaysia’s rating - S&P at stable outlook and Moody’s at positive outlook. Mindful of the potential rating downgrade, the government

reaffirmed their commitment to ensure that the country will continue to record a current account surplus with a strategy to look inwards when it comes to investment (encouraging GLCs and GLICs to invest domestically), and private consumption (priority to local contractors to undertake reconstruction works for flood affected areas, intensify promotion of “Buy Malaysia” products, and increase local goods and services in Government procurement).

With GLCs and GLICs being encouraged to invest domestically, demand dynamics may mitigate the volatile impact of foreign outflows premised on fears of a sovereign downgrade. Foreign shareholding of Malaysian debt securities fell from a high of RM257.22bn at end July 2014 to RM236.5bn at end November, mainly due to foreigners trimming short term notes.

While the US Federal Reserve plots for a normalization of the interest rate which could pose a contagion risk for emerging markets including Malaysia, the ECB has recently decided to embark on a sovereign QE program, whilst the People’s Bank of China and the Bank of Japan explore ways to cheapen the cost of credit to stimulate investment and spending in their disappointing economies. Hence, global liquidity is likely to remain abundant.

We expect the fixed income market to remain volatile due to geopolitical risks, currency volatility and monetary policy normalization. The sovereign rating, commodity prices, especially CPO and LNG, MYR performance and GST implementation in April 2015 are key influences on the MYR bond market in 2015.

Asia Pacific ex-Japan

Asia ex-Japan markets started the year in the red on emerging market meltdown fears. Improving data from India and Indonesia subsequently boosted stocks in the region. On a year to date basis, Asia ex Japan fared better than Japan and Europe as measured by the MSCI Ac Asia ex Japan index in USD terms.

Indonesia, Philippines and India were the top three markets in 2014. Improving macro conditions, positive election outcomes and the optimism over reform plans by the new leaders in India and Indonesia lifted these markets. Indonesia’s fuel price hike too led to positive reaction on the stock market. The Philippines gained throughout the year on stronger fundamentals which led to a one-notch rating upgrade by Standard & Poor to BBB.

Korea, Malaysia and Australia were 2014’s worst performers. Korea was affected by the Yen depreciation as it tarnished the attractiveness of Korean exports. Malaysia’s oil exporter status was behind the market’s dismal show as oil prices plunged. A falling Aussie dollar, declining commodity prices and concerns of a slowdown in China affected the Australian market.

The Thai market benefitted from improving confidence following the political stability post the military coup but succumbed to profit-taking towards year end. China on the other hand rose in the last quarter of the year buoyed by expectations of further monetary easing following the People’s Bank of China’s surprise rate cut in November, the first since 2012. Taiwan’s equity market saw interest in the second half of the year due to a pick up in the technology cycle.

Outlook

In 2015, we expect markets to continue their volatile performance given the mixed global macroeconomic news. Asian corporate earnings are geographically diverse. Earnings upside through 2015 and beyond are underpinned by a steadily improving global growth environment. As a whole Asia Pacific equity valuations remain below their long-term average which, combined with significant valuation disparities within countries and sectors, provides many stock specific investment opportunities. More significantly, we can identify a growing number of stocks that are not only out-of-favour but are also extremely cheap, (and which continue to get cheaper). We are generally finding these cheap names in the cyclical stocks.

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Global

2014 began on a sombre note. The scaling back of the quantitative easing programme by the US Federal Reserve and renewed growth concerns in China undermined confidence in emerging markets. The sell down in emerging market assets sparked a global contagion. Subsequently, a reaffirmation from central banks of continuing easy monetary policies and signs of stabilisation in emerging markets lifted sentiment across the globe.

Nonetheless the year was marked by bouts of volatility. Rising geopolitical tensions, namely Russia’s intervention in Ukraine and the deepening unrest in Middle East coupled with disappointing growth and profits in Europe, China and Japan triggered intermittent sell-offs. As the year drew to a close, political tensions in Greece, the economic crisis in Russia and plunging oil prices send global markets lower.

The intermittent sell-offs exposed value in a number of stocks; across regional Asia, there were strong valuation signals. Names linked to the global cycle were sold initially due to shorter term concerns for global growth. The valuation gap between defensive and cyclical stocks continued to remain wide.

Against this environment, global equities, as reflected by MSCI World, only rose by 5% in USD terms. US equities were 2014’s top performers led by indications of a nascent economic recovery and expectations that interest rates will remain low for longer. Over in Asia, star performers Indonesia, Philippines and India led the region higher. Positive election outcomes in India and Indonesia and improving macro conditions underpinned equities in these markets. Rating agency, Standard & Poor raised the Philippines sovereign rating by one-notch to BBB in recognition of the country’s strong fiscal and balance of payment metrics.

Meanwhile Japan equities had a challenging year, underpinned by lacklustre economic growth. Bank of Japan’s surprise move in October to expand its quantitative easing programme fuelled a rally in domestic equities. As a result, Japan had a good year in Yen terms but posted losses in USD terms. European equities too posted losses, plagued by the region’s high unemployment and growth woes. Speculation over whether the European Central Bank will implement additional stimulus was another factor driving market volatility in Europe during the second half of the year.

One of 2014’s biggest surprises was the decline in global bond yields. Instead of the anticipated rise in US interest rates, 10-year Treasuries rallied. Shrinking flows of government debt instruments may have also helped lower yields against a backdrop of growing liquidity. Asian local rates experienced declines (generally in tandem with US bond yields). In some Asian markets, domestic factors aided the rallies. On the whole the Asian USD bond market delivered a strong gain underpinned by coupon income while unexpected declines in longer term US interest rates also helped lift performance. Most Asian currencies too slid against the US dollar in 2014. While the US dollar was a beneficiary of the optimism surrounding the US economy, various unique reasons caused the Asian currencies to depreciate throughout the year.

Outlook

With the US quantitative easing over and the US Federal Reserve closer to its first rate hike, 2015 looks set to be another interesting year. While the Fed’s move has been well anticipated, it could prove challenging should the Fed raise rates more rapidly than anticipated. Such a move would likely be disruptive for bonds, select currencies and expensive sectors of the global equity markets that have benefited from the existing zero interest rate regime.

That said, falling oil and robust US growth will likely support corporate profits and enhance the attractiveness of global equities in 2015. Bonds on the other hand may experience heightened volatility as US rate hike fears wax and wane. Nonetheless the shape and pace of rate increases do matter. In this “soft” cycle, bond carry should provide a decent source of return, while opportunities in select Asian bonds should provide “alpha” return enhancements.

One of 2014’s biggestsurprises was the declinein global bond yields.

In 2015, we expect markets to continue their volatile performance given the mixed global macroeconomic news.

Inflation forecast of2.5-3.5% for 2015.

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PRUlink Equity FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Equity Fund stood at RM4.0048 compared to RM4.1588 at the end of 2013. For the 1-year period under review, the fund returned -3.70%, outperforming the benchmark return of -6.17%.

Since inception, the Fund achieved a gain of 300.48% against the benchmark performance of 78.43%.

PRUlink Bond FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Bond Fund stood at RM2.8358 compared to RM2.7413 at the end of 2013. For the 1-year period under review, the fund returned 3.45%, outperforming the benchmark return of 3.22%.


PRUlink Managed FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Managed Fund stood at RM3.2134 compared to RM3.2714 at the end of 2013. For the 1-year period under review, the fund returned -1.78%, outperforming the benchmark return of -3.41%.


PRUlink Managed Fund IIAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Managed Fund II stood at RM2.0186 compared to RM2.0629 at the end of 2013. For the 1-year period under review, the fund returned -2.14%, outperforming the benchmark return of -4.33%.


PRUlink Money Market FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Money Market Fund stood at RM1.1276 compared to RM1.0766 at the end of 2013. For the 1-year period under review, the fund returned 4.73%, outperforming the benchmark return of 3.22%.


PRUlink Golden Equity FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Golden Equity Fund stood at RM1.5705 compared to RM1.6309 at the end of 2013. For the 1-year period under review, the fund returned -3.70%, outperforming the benchmark return of -6.17%.


PRUlink Golden Bond FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Golden Bond Fund stood at RM1.2955 compared to RM1.2585 at the end of 2013. For the 1-year period under review, the fund returned 2.93%, underperforming the benchmark return of 3.22%.


PRUlink Dana UnggulAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Dana Unggul stood at RM3.4114 compared to RM3.4192 at the end of 2013. For the 1-year period under review, the fund returned -0.23%, outperforming the benchmark return of -4.17%.


8PRUlink funds

PRUlink Global Market navigator fund returned

6.74%, outperforming the benchmark return of 3.22%.

Since inception, the Fund achieved a gain of 50.41%

against the benchmark performance of 20.66%.

PRUlink Money Market Fund returned 4.73%,

outperforming the benchmark return

of 3.22%.

PRUlink Dana AmanAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Dana Aman stood at RM2.1359 compared to RM2.0547 at the end of 2013. For the 1-year period under review, the fund returned 3.95%, outperforming the benchmark return of 3.22%.


PRUlink Dana UrusAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Dana Urus stood at RM2.9111 compared to RM2.8881 at the end of 2013. For the 1-year period under review, the fund returned 0.80%, outperforming the benchmark return of -1.96%.


PRUlink Dana Urus IIAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Dana Urus II stood at RM2.1428 compared to RM2.1270 at the end of 2013. For the 1-year period under review, the fund returned 0.74%, outperforming the benchmark return of -2.70%.

Since inception, the Fund achieved a return of 114.28% against the benchmark performance of 85.34%.

PRUlink Asia Managed FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Asia Managed Fund stood at RM1.4840 compared to RM1.3205 at the end of 2013. For the 1-year period under review, the fund returned 12.39%, underperforming the benchmark return of 13.22%


PRUlink Asia Property Securities FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Asia Property Securities Fund stood at RM1.2441 compared to RM1.0397 at the end of 2013. For the 1-year period under review, the fund returned 19.66%, outperforming the benchmark return of 19.25%.


PRUlink Asia Local Bond FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Asia Local Bond Fund stood at RM1.5571 compared to RM1.4015 at the end of 2013. For the 1-year period under review, the fund returned 11.10%, outperforming the benchmark return of 11.07%.


PRUlink Global Market Navigator FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Global Market Navigator Fund stood at RM1.5041 compared to RM1.4092 at the end of 2013. For the 1-year period under review, the fund returned 6.74%, outperforming the benchmark return of 3.22%.


PRUlink Dragon Peacock FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Dragon Peacock Fund stood at RM1.1897 compared to RM0.9997 at the end of 2013. For the 1-year period under review, the fund returned 19.00%, underperforming the benchmark return of 23.91%.


PRUlink Education Equity FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Education Equity Fund stood at RM1.4717 compared to RM1.5283 at the end of 2013. For the 1-year period under review, the fund returned -3.70%, outperforming the benchmark return of -6.17%.


PRUlink Education Bond FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Education Bond Fund stood at RM1.1906 compared to RM1.1566 at the end of 2013. For the 1-year period under review, the fund returned 2.93%, underperforming the benchmark return of 3.22%.


PRUlink Asia Equity FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Asia Equity Fund stood at RM1.1287 compared to RM1.0021 at the end of 2013. For the 1-year period under review, the fund returned 12.63%, outperforming the benchmark return of 12.11%.


PRUlink Golden Managed FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Golden Managed Fund stood at RM1.0612 compared to RM1.0435 at the end of 2013. For the 1-year period under review, the fund returned 1.69%, outperforming the benchmark return of 1.30%.


9PRUlink funds

PRUlink Golden Equity Fund IIAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Golden Equity Fund II stood at RM1.0514 compared to RM1.0450 at the end of 2013. For the 1-year period under review, the fund returned 0.62%, outperforming the benchmark return of -6.17%.

Since inception, the Fund achieved a return of 5.14% against the benchmark performance of -2.22%.

PRUlink Golden Bond Fund IIAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Golden Bond Fund II stood at RM1.0632 compared to RM1.0188 at the end of 2013. For the 1-year period under review, the fund returned 4.36%, outperforming the benchmark return of 3.22%.


PRUlink Dyna Growth I Fund As at 31 December 2014, the Net Asset Value per unit of the PRUlink Dyna Growth I Fund stood at RM0.9492 compared to RM0.9272 at the end of 2013. For the 1-year period under review, the fund returned 2.37%.

Since inception, the Fund achieved a return of -5.08%.

PRUlink Dyna Growth II Fund As at 31 December 2014, the Net Asset Value per unit of the PRUlink Dyna Growth II Fund stood at RM0.9264 compared to RM0.8894 at the end of 2013. For the 1-year period under review, the fund returned 4.16%.


PRUlink Dyna Growth III Fund As at 31 December 2014, the Net Asset Value per unit of the PRUlink Dyna Growth III Fund stood at RM0.9197 compared to RM0.8708 at the end of 2012. For the 1-year period under review, the fund returned 5.61%.


PRUlink Dyna Growth IV Fund As at 31 December 2014, the Net Asset Value per unit of the PRUlinkDyna Growth IV Fund stood at RM0.9413 compared to RM0.8797 at the end of 2013. For the 1-year period under review, the fund returned 6.99%.


PRUlink Commodity Allocator Fund As at 31 December 2014, the Net Asset Value per unit of the PRUlink Commodity Allocator Fund stood at RM0.9994 compared to RM0.9681 at the end of 2013. For the 1-year period under review, the fund returned 3.23%.

Since inception, the Fund achieved a return of 3.83%.

PRUlink Commodity Allocator II FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink Commodity Allocator II Fund stood at RM0.9897 compared to RM0.9605 at the end of 2013. For the 1-year period under review, the fund returned 3.03%.


PRUlink MyOptimizer FundAs at 31 December 2014, the Net Asset Value per unit of the PRUlink MyOptimizer Fund stood at RM0.9863 compared to RM0.9741 at the end of 2013. For the 1-year period under review, the fund returned 1.25%.


Source: Lipper for Investment Management, Eastspring Investments Berhad, Eastspring Investments (Singapore) Limited, Bloomberg, Maybank, HSBC.

10PRUlink funds

PRUlink Asia Property Securities Fund stood at RM1.2441 compared to RM1.0397 at the

end of 2013. The fund returned 19.66%, outperforming the benchmark return

of 19.25%.

Since inception, PRUlink Equity Fund achieved a gain of 300.48% against the benchmark performance of

78.43%.

COMPARATIVE PERFORMANCE TABLE For The Financial Year Ended 31 December PRUlink Equity Fund

Category 2014 2013 2012 2011 2010 % % % % %

Equity Automotive 2.20 0.78 1.21 1.03 1.68

Banking & Finance 27.05 26.49 26.62 20.69 29.26

Building Materials 0.19 0.18 0.23 0.37 0.57

Conglomerates 7.29 6.79 7.58 6.16 7.07

Construction 3.33 2.29 2.23 2.58 5.28

Consumer Products 4.06 2.15 2.95 3.03 3.06

Gaming 4.61 7.73 6.53 8.17 8.65

Industrial - - - 1.32 1.67

Manufacturing 0.89 - - 0.02 0.16

Media 0.69 0.54 0.64 0.84 1.14

Oil & Gas 8.57 13.23 10.28 12.45 5.19

Plantation 5.39 5.40 4.91 5.60 7.01

Power 7.89 6.56 4.14 3.13 5.10

Property 6.75 5.69 5.95 4.77 3.16

Services - - 0.94 - -

Technology 0.08 0.16 0.53 0.66 1.06

Telecommunications 16.37 13.64 16.56 14.12 12.31

Transportation 2.03 0.87 0.44 1.72 2.50

Water - - 0.09 0.10 0.23

97.39 92.50 91.83 86.76 95.11

Cash and Deposits 4.00 8.79 9.12 14.13 5.66

Other Assets 0.26 0.27 0.06 0.22 0.32

Total Liabilities (1.65) (1.56) (1.01) (1.11) (1.09)

Total 100.00 100.00 100.00 100.00 100.00

11PRUlink funds

PRUlink Equity Fund

Category 2014 2013 2012 2011 2010 % % % % %

Total Net Asset Value(RM) 8,054,435,890 7,764,580,770 6,570,022,228 5,331,302,110 4,878,213,363

Units in Circulation 2,011,189,523 1,867,031,403 1,762,061,510 1,606,185,161 1,529,617,613

NAV Per Unit(RM) 4.005 4.159 3.729 3.319 3.189

Highest NAV per unit(RM) 4.249 4.163 3.729 3.382 3.198

Lowest NAV per unit(RM) 3.822 3.592 3.285 2.905 2.571

Total Return(+)

-Capital Growth (3.70%) 11.54% 12.33% 4.08% 21.34%

-Income Distribution - - - - -

Average Annual Return -Fund(+) Period

One year (3.70%)

Three years 6.46%

Five years 8.79%

Average Annual Return-Benchmark:FTSE Bursa Malaysia Top 100 Index (FBM100)Period

One year (6.17%)

Three years 4.63%

Five years 7.29%

COMPARATIVE PERFORMANCE TABLE For The Financial Year Ended 31 December

12PRUlink funds

PRUlink Equity Fund Performance(Since Inception)

SI %

Ch

ang

e

Date

350.00%

330.00%

310.00%

290.00%

270.00%

250.00%

230.00%

210.00%

190.00%

170.00%

150.00%

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

(30.00%)

(50.00%)

(70.00%)

(90.00%)

350.00%

330.00%

310.00%

290.00%

270.00%

250.00%

230.00%

210.00%

190.00%

170.00%

150.00%

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

(30.00%)

(50.00%)

(70.00%)

(90.00%)

PEF

FBM100

Oct- 97

Jun- 98

Mar- 04

Oct- 04

Jun- 05

Feb- 06

Sep- 06

May- 07

Dec- 07

Aug- 08

Apr- 09

Nov- 09

Jul- 10

Mar- 11

Oct- 11

Jun- 12

Jan- 13

Sep- 13

May- 14

Dec- 14

Sep- 99

Feb- 99

May- 00

Jan-01

Aug-01

Apr-02

Nov-02

Jul-03

+ The Fund returns are calculated based on five decimal place

The unit prices of the Funds may go down as well as up and the past performance figures shown are not indicative of future performance.

PRUlink Equity Fund Vs. FTSE Bursa Malaysia Top 100 Index (FBM100)

13PRUlink funds

PRUlink Bond Fund

Category 2014 2013 2012 2011 2010 % % % % %

Fixed Income Securities:

-Corporate Bonds/Securities 97.29 99.60 98.31 84.90 91.10

-Negotiable Certificate of Deposits - - - - 0.49

Cash and Deposits 3.19 0.77 1.92 14.70 8.23

Other Assets 0.97 0.99 0.95 0.87 0.79

Total Liabilities (1.45) (1.36) (1.18) (0.47) (0.61)

Total 100.00 100.00 100.00 100.00 100.00

Total Net Asset Value(RM) 2,356,521,984 2,112,638,115 1,745,601,224 1,506,193,723 1,035,786,244

Units in Circulation 830,980,959 770,670,071 650,569,199 586,581,160 425,071,298

NAV Per Unit(RM) 2.836 2.741 2.683 2.568 2.437

Highest NAV per unit(RM) 2.836 2.749 2.683 2.568 2.435

Lowest NAV per unit(RM) 2.732 2.678 2.568 2.436 2.306

Total Return(+)

-Capital Growth 3.45% 2.17% 4.50% 5.38% 5.74%

-Income Distribution - - - - -

Average Annual Return -Fund(+)Period One year 3.45% Three years 3.37% Five years 4.24% Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years 3.06%

COMPARATIVE PERFORMANCE TABLE For The Financial Year Ended 31 December

14PRUlink funds

PRUlink Bond Fund Performance(Since Inception)

SI %

Ch

ang

e

195.00%

175.00%

155.00%

135.00%

115.00%

95.00%

75.00%

55.00%

35.00%

15.00%

(5.00%)

195.00%

175.00%

155.00%

135.00%

115.00%

95.00%

75.00%

55.00%

35.00%

15.00%

(5.00%)

PRUlink Bond Fund Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate



Date

Oct- 97

May- 98

Feb- 03

Sep- 03

Apr- 04

Nov- 04

Jun- 05

Jan- 06

Aug- 06

Apr- 07

Nov- 07

Jun- 08

Jan- 09

Aug- 09

Aug- 12

Mar- 10

Mar- 13

Oct- 10

Oct- 13

May- 14

Dec- 14

Jun- 11

Jan- 12

Jul- 99

Dec- 98

Feb- 00

Sep-00

Apr-01

Nov-01

Jul-02

PBF

12M MBB T1 FD rate

15PRUlink funds

COMPARATIVE PERFORMANCE TABLE For The Financial Year Ended 31 December PRUlink Managed Fund

Category 2014 2013 2012 2011 2010 % % % % %

Investment in-

PRUlink Equity Fund 67.59 70.05 70.76 62.95 73.92

PRUlink Bond Fund 32.41 29.95 29.24 37.05 26.08

Cash and Deposits - - - - -

Other Assets - - - - -

Total Liabilities - - - - -

Total 100.00 100.00 100.00 100.00 100.00

Total Net Asset Value(RM) 1,829,981,288 1,818,991,966 1,652,592,952 1,463,691,529 1,339,546,299 Units in Circulation 569,492,759 556,020,850 546,638,110 529,277,449 501,044,275 NAV Per Unit(RM) 3.213 3.271 3.023 2.765 2.674 Highest NAV per unit(RM) 3.327 3.272 3.023 2.806 2.677 Lowest NAV per unit(RM) 3.115 2.949 2.748 2.533 2.261 Total Return(+) -Capital Growth (1.78%) 8.21% 9.32% 3.44% 16.59% -Income Distribution - - - - -

Average Annual Return -Fund(+)Period One year (1.78%) Three years 5.13% Five years 6.98% Average Annual Return-Benchmark: 70% FTSE BursaMalaysia Top 100 Index (FBM100) + 30% 12 MonthMaybank Tier 1 Fixed Deposit Rate Period One year (3.41%) Three years 4.25% Five years 6.10%

16PRUlink funds

PRUlink Managed Fund Performance(Since Inception)

PRUlink Managed Fund Vs. 70% FBM100 + 30% 12 Month Maybank Tier 1 Fixed Deposit Rate

Date



Sep-

99

Apr-

00

Oct-

99

May-

01

Dec-

01

Jul-

02

Feb-

03

Aug-

03

Mar-

04

Oct-

04

May-

05

Nov-

05

Jun-

06

Jan-

07

Aug-

07

Feb-

08

Sep-

08

Apr-

09

Nov-

09

Jun-

10

Dec-

10

Jul-

11

Feb-

12

Sep-

12

Mar-

13

Oct-

13

May-

14

Dec-

14

SI %

Ch

ang

e

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

PMF

70% FBM100 & 30% MBB 12M T1 FD rate

17PRUlink funds

COMPARATIVE PERFORMANCE TABLE For The Financial Year Ended 31 December PRUlink Managed Fund II

Category 2014 2013 2012 2011 2010 % % % % %

Investment in- PRUlink Equity Fund 78.49 79.98 81.72 73.13 82.91 PRUlink Bond Fund 21.51 20.02 18.28 26.87 17.09 Cash and Deposits - - - - - Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 870,619,126 745,119,419 552,328,913 406,270,008 304,142,421 Units in Circulation 431,290,367 361,206,095 293,199,977 238,271,348 185,582,566 NAV Per Unit(RM) 2.019 2.063 1.884 1.705 1.639 Highest NAV per unit(RM) 2.103 2.064 1.884 1.726 1.641 Lowest NAV per unit(RM) 1.946 1.830 1.692 1.542 1.360 Total Return(+) -Capital Growth (2.14%) 9.51% 10.48% 4.04% 18.50% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year (2.14%) Three years 5.79% Five years 7.86% Average Annual Return-Benchmark: 80% FTSE BursaMalaysia Top 100 Index (FBM100) + 20%12 MonthMaybank Tier 1 Fixed Deposit Rate Period One year (4.33%) Three years 4.38% Five years 6.51%

18PRUlink funds

PRUlink Managed Fund II Performance(Since Inception)

Date



PRUlink Managed Fund II Vs. 80% FBM100 + 20%12 Month Maybank Tier 1 Fixed Deposit Rate

SI %

Ch

ang

e

Aug-06

Mar-07

Oct-07

May-08

Dec-08

Jul-09

Mar-10

Oct-10

May-11

Dec-11

Jul-12

Feb-13

Sep-13

May-14

Dec-14

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

PMF II

80% FBM100 + 20% MBB 12M T1 FD rate

19PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Equity Fund

Category 2014 2013 2012 2011 2010 % % % % %

Investment in- PRUlink Equity Fund 100.00 100.00 100.00 100.00 99.99 Cash at Bank - - - - 0.01 Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 279,757,602 245,100,416 189,499,007 139,790,024 109,840,807 Units in Circulation 178,130,415 150,285,110 129,598,121 107,389,466 87,742,702 NAV Per Unit(RM) 1.571 1.631 1.462 1.302 1.252 Highest NAV per unit(RM) 1.666 1.633 1.462 1.326 1.254 Lowest NAV per unit(RM) 1.499 1.409 1.288 1.139 1.008 Total Return(+) -Capital Growth (3.70%) 11.54% 12.33% 3.98% 21.45% -Income Distribution - - - - -

Average Annual Return -Fund(+) Period One year (3.70%) Three years 6.46% Five years 8.79% Average Annual Return-Benchmark: FTSE BursaMalaysia Top 100 Index (FBM100) Period One year (6.17%) Three years 4.63% Five years 7.29%

20PRUlink funds

PRUlink Golden Equity Fund Performance(Since Inception)

Date



SI %

Ch

ang

e

Nov-07

Sep-08

Jun-09

Mar-10

Jan-11

Oct-11

Aug-12

May-13

Mar-14

Dec-14

75.00%

65.00%

55.00%

45.00%

35.00%

25.00%

15.00%

5.00%

(5.00%)

(15.00%)

(25.00%)

(35.00%)

(45.00%)

75.00%

65.00%

55.00%

45.00%

35.00%

25.00%

15.00%

5.00%

(5.00%)

(15.00%)

(25.00%)

(35.00%)

(45.00%)

PGE

FBM100

PRUlink Golden Equity Fund Vs. FTSE Bursa Malaysia Top 100 Index (FBM100)

21PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Bond Fund

Category 2014 2013 2012 2011 2010 % % % % %

Investment in- PRUlink Bond Fund 100.00 100.00 100.00 100.00 100.00 Cash at Bank - - - - - Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 758,779,029 580,107,496 464,414,966 338,728,479 249,642,277 Units in Circulation 585,723,397 460,934,120 375,120,833 284,508,770 220,001,951 NAV Per Unit(RM) 1.295 1.259 1.238 1.191 1.135 Highest NAV per unit(RM) 1.296 1.264 1.238 1.191 1.135 Lowest NAV per unit(RM) 1.253 1.235 1.191 1.135 1.080 Total Return(+) -Capital Growth 2.93% 1.66% 3.99% 4.92% 5.13% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 2.93% Three years 2.85% Five years 3.72% Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years 3.06%

22PRUlink funds

SI %

Ch

ang

e

33.00%

28.00%

23.00%

18.00%

13.00%

8.00%

3.00%

(2.00)

33.00%

28.00%

23.00%

18.00%

13.00%

8.00%

3.00%

(2.00)

PRUlink Golden Bond Fund Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Golden Bond Fund Performance(Since Inception)

Date



PGB

12M MBB T1 FD rate

Nov-

07

Mar-

08

Jun-

08

Oct-

08

Jan-

09

May-

09

Aug-

09

Dec-

09

Mar-

10

Jul-

10

Oct-

10

Feb-

11

May-

11

Sep-

11

Dec-

11

Apr-

12

Jul-

12

Nov-

12

Feb-

13

Jun-

13

Sep-

13

Jan-

14

May-

14

Aug-

14

Dec-

14

23PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Managed Fund

Category 2014 2013 2012 % % % Investment in- PRUlink Golden Equity Fund 17.74 21.49 20.35 PRUlink Golden Bond Fund 82.26 78.51 79.65 Cash and Deposits - - - Other Assets - - - Total Liabilities - - - Total 100.00 100.00 100.00 Total Net Asset Value(RM) 132,628,088 101,580,240 70,327,049 Units in Circulation 124,984,945 97,345,581 69,836,327 NAV Per Unit(RM) 1.061 1.044 1.007 Highest NAV per unit(RM) 1.069 1.044 1.007 Lowest NAV per unit(RM) 1.032 1.002 0.991 Total Return(+) -Capital Growth 1.69% 3.62% 0.70%-Income Distribution - - - Average Annual Return -Fund(+) Period One year 1.69% Three years 2.77% Five years n/a Average Annual Return-Benchmark: 20% FTSE Bursa Malaysia Top 100 Index (FBM100)+ 80% 12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 1.30% Three years 3.08% Five years n/a

24PRUlink funds

SI %

Ch

ang

e

PRUlink Golden Managed Fund Performance(Since Inception)

Date



10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00)%

(2.00)%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00)%

(2.00)%

PRUlink Golden Managed Fund Vs. 20% FBM100 + 80% 12 Month Maybank Tier 1 Fixed Deposit Rate

PGM

20% FBM100 + 80% 12MMBB T1 FD Rate

Oct-

12

Nov-

12

Dec-

12

Jan-

13

Feb-

13

Mar-

13

Apr-

13

May-

13

Jun-

13

Jul-

13

Aug-

13

Sep-

13

Oct-

13

Nov-

13

Dec-

13

Jan-

14

Feb-

14

Mar-

14

Apr-

14

May-

14

Jun-

14

Jul-

14

Aug-

14

Sep-

14

Oct-

14

Nov-

14

Dec-

14

25PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Education Equity Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- PRUlink Equity Fund 100.00 100.00 100.00 100.00 100.00 Cash and Deposits - - - - - Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 1,850,174 1,477,243 931,052 468,705 148,669 Units in Circulation 1,257,138 966,581 679,485 384,238 126,732 NAV Per Unit(RM) 1.472 1.528 1.370 1.220 1.173 Highest NAV per unit(RM) 1.561 1.530 1.370 1.243 1.175 Lowest NAV per unit(RM) 1.405 1.320 1.207 1.067 0.961 Total Return(+) -Capital Growth (3.70%) 11.54% 12.33% 3.98% 17.31% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year (3.70%) Three years 6.46% Five years 8.31% Average Annual Return-Benchmark: FTSE BursaMalaysia Top 100 Index (FBM100) Period One year (6.17%) Three years 4.63% Five years 7.49%

26PRUlink funds

SI %

Ch

ang

e

PRUlink Education Equity Fund Performance(Since Inception)

Date

58.00%

54.00%

50.00%

46.00%

42.00%

38.00%

34.00%

30.00%

26.00%

22.00%

18.00%

14.00%

10.00%

6.00%

2.00%

(2.00)%

(6.00)%

58.00%

54.00%

50.00%

46.00%

42.00%

38.00%

34.00%

30.00%

26.00%

22.00%

18.00%

14.00%

10.00%

6.00%

2.00%

(2.00)%

(6.00)%

PRUlink Education Equity Fund Vs. FTSE Bursa Malaysia Top 100 Index (FBM100)

PEEF

FBM 100

Mar-10

Jul-10

Nov-10

Apr-11

Aug-11

Dec-11

May-12

Sep-12

Feb-13

Jun-13

Oct-13

Mar-14

Jul-14

Dec-14



27PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Education Bond Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- PRUlink Bond Fund 100.00 100.00 100.00 100.00 100.00 Cash and Deposits - - - - - Other Assets - - - - - Total Liabilities - - - - -

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 3,165,380 2,246,990 1,468,942 764,551 241,361 Units in Circulation 2,658,726 1,942,683 1,291,040 698,748 231,444 NAV Per Unit(RM) 1.191 1.157 1.138 1.094 1.043 Highest NAV per unit(RM) 1.191 1.162 1.138 1.094 1.043 Lowest NAV per unit(RM) 1.152 1.135 1.094 1.043 1.000 Total Return(+) -Capital Growth 2.93% 1.66% 3.99% 4.92% 4.92% -Income Distribution - - - - -

Average Annual Return -Fund(+) Period One year 2.93% Three years 2.85% Five years 3.67% Average Annual Return-Benchmark: 12 MonthMaybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years 3.07%

28PRUlink funds

SI %

Ch

ang

e

PRUlink Education Bond Fund Performance(Since Inception)

Date



20.00%

17.50%

15.00%

12.50%

10.00%

7.50%

5.00%

2.50%

0.00%

20.00%

17.50%

15.00%

12.50%

10.00%

7.50%

5.00%

2.50%

0.00%

PRUlink Education Bond Fund Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate

PEBF

12M MBB T1 FD rate

Feb-10

Jul-10

Nov-10

Apr-11

Aug-11

Dec-11

May-12

Sep-12

Feb-13

Jun-13

Oct-13

Mar-14

Jul-14

Dec-14

29PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dana Unggul

Category 2014 2013 2012 2011 2010 % % % % % Equity Automotive 4.52 4.23 1.89 1.41 1.83 Building Materials - - 0.42 0.93 2.25 Conglomerates 10.36 8.29 8.12 6.91 10.86 Construction 4.61 5.20 4.56 6.54 13.82 Consumer Products 7.63 2.89 2.59 4.90 2.31 Finance 3.54 3.05 1.02 0.43 0.14 Industrial - - - 0.85 1.65 Insurance - 1.42 - - - Manufacturing 1.87 0.84 1.56 0.25 1.09 Media 0.21 0.15 0.35 0.10 0.10 Oil & Gas 11.66 22.44 17.51 16.52 9.13 Plantation 8.16 8.27 7.23 10.53 12.75 Power 10.71 9.77 8.40 5.31 8.60 Property 7.18 3.15 3.87 3.59 7.02 Services - - 2.58 - - Technology 1.27 1.19 1.39 0.76 0.43 Telecommunications 23.68 24.34 26.97 27.37 17.52 Transportation 3.55 1.53 0.29 2.71 5.99 Water - - - - - 98.94 96.76 88.75 89.11 95.48 Cash and Deposits 3.40 5.24 14.23 12.45 5.62 Other Assets 0.43 0.37 0.06 0.10 0.54 Total Liabilities (2.77) (2.37) (3.04) (1.66) (1.64)

Total 100.00 100.00 100.00 100.00 100.00

30PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dana Unggul

Category 2014 2013 2012 2011 2010 % % % % % Total Net Asset Value(RM) 777,011,048 728,190,576 595,058,804 476,257,918 404,622,738 Units in Circulation 227,771,332 212,971,620 202,181,530 186,266,558 170,971,017 NAV Per Unit(RM) 3.411 3.419 2.943 2.557 2.367 Highest NAV per unit(RM) 3.552 3.429 2.943 2.557 2.384 Lowest NAV per unit(RM) 3.249 2.805 2.529 2.199 1.950 Total Return(+) -Capital Growth (0.23%) 16.17% 15.11% 8.04% 18.10% -Income Distribution - - - - -

Average Annual Return -Fund(+) Period One year (0.23%) Three years 10.09% Five years 11.23% Average Annual Return-Benchmark: FTSE-BursaMalaysia Emas Shariah Index (FBMSHA) Period One year (4.17%) Three years 6.68% Five years 8.01%

31PRUlink funds

PRUlink Dana Unggul Vs. FTSE-Bursa Malaysia Emas Shariah Index (FBMSHA)

PRUlink Dana Unggul Performance(Since Inception)



SI %

Ch

ang

e

Date

280.00%

260.00%

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00)%

(40.00)%

280.00%

260.00%

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00)%

(40.00)%

PDU

FBMSHA

Aug-00

Mar-01

Oct-01

Jun-02

Jan-03

Sep-03

Apr-04

Dec-04

Jul-05

Mar-06

Oct-06

Jun-07

Jan-08

Sep-08

Apr-09

Dec-09

Jul-10

Mar-11

Oct-11

Jun-12

Jan-13

Sep-13

Apr-14

Dec-14

32PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dana Aman

Category 2014 2013 2012 2011 2010 % % % % % Fixed Income Securities: -Corporate Bonds/Securities 98.98 99.01 99.89 83.55 89.45 Cash and Deposits 1.52 1.25 1.32 16.58 10.44 Other Assets 1.08 1.10 1.05 0.70 0.68 Total Liabilities (1.58) (1.36) (2.26) (0.83) (0.57)

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 110,086,781 96,074,541 82,705,425 81,094,201 56,965,611 Units in Circulation 51,540,664 46,759,279 40,727,934 42,065,657 31,048,484 NAV Per Unit(RM) 2.136 2.055 2.031 1.928 1.835 Highest NAV per unit(RM) 2.137 2.084 2.031 1.928 1.833 Lowest NAV per unit(RM) 2.044 2.026 1.928 1.833 1.733 Total Return(+) -Capital Growth 3.95% 1.18% 5.34% 5.07% 5.89% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 3.95% Three years 3.48% Five years 4.27% Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years 3.06%

33PRUlink funds

SI %

Ch

ang

e

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

PRUlink Dana Aman Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Dana Aman Performance(Since Inception)

Date


The unit prices of the Fund may go down as well as up and the past performance figures shown are not indicative of future performance.

PDA

12M MBB T1 FD Rate

Aug-00

Mar-01

Oct-01

May-02

Dec-02

Aug-03

Mar-04

Oct-04

May-05

Dec-05

Jul-06

Mar-07

Oct-07

May-08

Dec-08

Jul-09

Mar-10

Oct-10

May-11

Dec-11

Jul-12

Mar-13

Oct-13

May-14

Dec-14

34PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dana Urus

Category 2014 2013 2012 2011 2010 % % % % % Investment in- PRUlink Dana Unggul 67.20 70.36 70.60 63.27 72.89 PRUlink Dana Aman 32.80 29.64 29.40 36.73 27.11 Cash and Deposits - - - - - Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 149,679,771 150,251,177 134,348,503 120,239,674 107,985,913 Units in Circulation 51,416,641 52,024,160 51,660,963 51,583,253 49,146,556 NAV Per Unit(RM) 2.911 2.888 2.601 2.331 2.197 Highest NAV per unit(RM) 2.979 2.891 2.601 2.331 2.208 Lowest NAV per unit(RM) 2.789 2.518 2.315 2.111 1.898 Total Return(+) -Capital Growth 0.80% 11.06% 11.57% 6.09% 14.19% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 0.80% Three years 7.69% Five years 8.63% Average Annual Return-Benchmark: 70% FTSE-BursaMalaysia Emas Shariah Index (FBMSHA) + 30% 12 MonthMaybank Tier 1 Fixed Deposit Rate Period One year (1.96%) Three years 5.70% Five years 6.61%

35PRUlink funds

SI %

Ch

ang

e

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

PRUlink Dana Urus Vs. 70% FBMSHA + 30% 12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Dana Urus Performance(Since Inception)

Date



PDUrus

70%FBMSHA & 30%12M MBB T1 FD rate

Aug-00

Apr-03

Jan-06

Dec-00

Aug-03

May-06

Apr-01

Jan-04

Sep-0

6

Oct-08

Nov-10

Aug-01

May-04

Feb-07

Feb-09

Mar-11

Nov-12

Dec-01

Sep-0

4

Jun-07

Jun-09

Jul-11

Mar-13

Apr-02

Jan-05

Oct-07

Oct-09

Nov-11

Aug-13

Aug-02

May-05

Feb-08

Mar-10

Mar-12

Dec-13

Dec-02

Sep-0

5

Jun-08

Jul-10

Jul-12

Apr-14

Aug-14

Dec-14

36PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dana Urus II

Category 2014 2013 2012 2011 2010 % % % % % Investment in- PRUlink Dana Unggul 78.52 80.43 81.80 73.21 82.25 PRUlink Dana Aman 21.48 19.57 18.20 26.79 17.75 Cash and Deposits - - - - - Other Assets - - - - - Total Liabilities - - - - - Total 100.00 100.00 100.00 100.00 100.00

Total Net Asset Value(RM) 82,219,425 66,493,529 46,916,549 34,271,843 23,580,782 Units in Circulation 38,369,365 31,261,133 24,903,350 20,542,873 15,168,477 NAV Per Unit(RM) 2.143 2.127 1.884 1.668 1.555 Highest NAV per unit(RM) 2.200 2.131 1.884 1.668 1.563 Lowest NAV per unit(RM) 2.045 1.814 1.655 1.490 1.319 Total Return(+) -Capital Growth 0.74% 12.90% 12.93% 7.31% 15.79% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 0.74% Three years 8.70% Five years 9.80% Average Annual Return-Benchmark: 80% FTSE-BursaMalaysia Emas Shariah Index (FBMSHA) + 20%12 Month Maybank Tier 1 Fixed Deposit Rate Period One year (2.70%) Three years 6.03% Five years 7.09%

37PRUlink funds

Aug-06

May-08

Mar-10

Dec-11

Sep-13

Mar-07

Dec-08

Oct-10

Jul-12

May-14

Oct-07

Jul-09

May-11

Feb-13

Dec-14

SI %

Ch

ang

e

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

PRUlink Dana Urus II Vs. 80% FBMSHA + 20% 12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Dana Urus II Performance(Since Inception)

Date



PDUrus II

80%FBMSHA & 20%12M MBB T1 FD rate

38PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Asia Managed Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Asian Equity Fund 82.10 72.34 72.22 63.80 75.43 Asian Bond Fund 22.05 30.74 30.54 36.51 28.16 Cash at Bank 0.01 0.06 0.19 1.00 0.23 Other Assets - - 0.25 - - Total Liabilities (4.16) (3.14) (3.20) (1.31) (3.82)

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 192,612,822 185,240,816 194,409,461 193,768,310 241,982,226 Units in Circulation 129,789,007 140,282,547 150,889,257 170,529,096 187,961,255 NAV Per Unit(RM) 1.484 1.320 1.288 1.136 1.287 Highest NAV per unit(RM) 1.492 1.325 1.290 1.307 1.311 Lowest NAV per unit(RM) 1.264 1.171 1.134 1.064 1.098 Total Return(+) -Capital Growth 12.39% 2.49% 13.39% (11.74%) 4.56% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 12.39% Three years 9.31% Five years 3.80% Average Annual Return-Benchmark: 70% MSCI AsiaEx-Japan Index + 30% JP Morgan Asia Credit Index Period One year 13.22% Three years 12.84% Five years 6.85%

39PRUlink funds

SI %

Ch

ang

e

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

PRUlink Asia Managed Fund Vs. 70% MSCI Asia Ex-Japan Index + 30% JP Morgan Asia Credit Index

PRUlink Asia Managed Fund Performance(Since Inception)

Date

Nov-05

Apr-06

Dec-06

Sep-07

Jun-08

Mar-09

Nov-09

Aug-10

May-11

Jan-12

Oct-12

Aug-06

May-07

Jan-08

Oct-08

Jul-09

Apr-10

Dec-10

Sep-11

Jun-12

Feb-13

Jul-13

Nov-13

Mar-14

Aug-14

Dec-14

AMF

70%MSCI & 30%JP MORGAN



40PRUlink funds

For The Financial Year Ended 31 December ASIAN EQUITY FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Thai Baht 2.82 3.28 2.74 2.68 2.95 Hong Kong Dollar 40.24 37.05 36.16 35.54 34.09 Indian Rupee 9.25 9.80 8.42 10.22 12.65 Indonesian Rupiah 2.56 3.42 4.95 3.72 3.24 Malaysian Ringgit 2.46 2.38 2.79 3.88 3.27 New Taiwan Dollar 11.62 11.25 12.61 13.89 14.28 Philippines Peso 0.55 1.13 1.26 0.48 0.88 Singapore Dollar 6.96 7.33 6.84 5.73 5.02 US Dollar 2.00 1.82 2.20 1.50 2.33 Korean Won 20.14 20.79 21.08 20.92 20.80 Cash and Cash Equivalent 1.40 1.75 0.95 1.44 0.49 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % %

Equity Advertising - - 1.41 - - Agriculture - 1.49 1.18 - - Auto - Auto Parts 1.46 1.73 1.32 1.77 2.41 Automobiles & Components - - 3.55 1.36 - Auto Manufacturers 4.66 4.95 - - - Banks 21.72 20.92 17.89 16.58 - Beverages - 0.79 - - - Breweries & Leisure & Hotels - - - - 0.81 Building & Construction - - - - 2.25 Building Materials - - 0.51 2.37 - Chemicals & Pharmaceuticals 1.54 1.62 5.68 2.45 3.51 Coal 1.31 1.56 2.68 1.69 - Commercial Services - - - 2.34 0.69 Computers & Software 4.61 2.17 2.39 4.90 8.17 Distribution / Wholesale 1.00 0.75 0.78 - - Diversified Financial Services 5.56 6.33 6.91 6.66 - Diversified Operations - - - - 1.99 Electric 2.30 2.25 - - - Electronics 2.14 3.47 - - -

41PRUlink funds


Category 2014 2013 2012 2011 2010 % % % % % Equity Electronics & Electrical Equipment - 1.30 7.32 7.09 9.84 Energy - - - - 8.76 Engineering 1.82 1.24 2.03 5.53 5.29 Equities - - - - 3.93 Extractive Industries - - - - 5.39 Financial - - - - 16.59 Food 3.01 3.55 - - - Food & Textiles & Apparel - - 0.72 0.68 1.94 Health Care 0.50 - 0.45 0.92 0.77 Holding Companies-Diversified 8.16 5.84 2.72 4.88 3.40 Home Furnishing 1.55 - - - - Insurance 1.81 1.32 2.60 2.23 5.83 Investment 0.65 0.64 - - - Iron / Steel 1.19 1.73 2.01 2.30 - Lodging 1.37 1.23 1.56 2.12 - Manufacturing - - - 1.00 1.05 Materials - - - - - Media & Publishing - - - - - Mining 1.30 - - 1.34 - Oil & Gas 5.71 6.95 3.14 4.14 - Pharmaceuticals - 0.53 1.29 1.25 - Property - - - - 1.65 Public Utilities - - - - - Real Estate 6.06 6.79 7.73 4.81 3.04 REITs - - - 0.89 - Retail 1.07 2.21 4.43 2.58 3.59 Semiconductors 11.19 11.75 12.14 8.49 2.06 Shipbuilding - - 0.88 - - Telecommunications 6.91 4.45 4.23 7.37 1.10 Tobacco - - - - - Transport & Telecommunications - - - - 5.44 Transportations - 0.69 1.50 0.82 - Warrants - - - - 0.01 Others - - - - - 98.60 98.25 99.05 98.56 99.51 Cash And Cash Equivalent 1.40 1.75 0.95 1.44 0.49

Total 100.00 100.00 100.00 100.00 100.00

Note: Asian Equity Fund is managed by Eastspring Investments (Singapore) Limited.

42PRUlink funds

For The Financial Year Ended 31 December ASIAN BOND FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Chinese Yuan Renminbi 2.15 1.81 1.03 0.52 0.11 Hong Kong Dollar - - - - - Indian Rupee 0.55 0.12 - - - Indonesian Rupiah 0.59 - - - - Malaysian Ringgit - - 0.67 0.22 0.32 Philippines Peso 0.53 0.12 0.29 0.50 0.88 Singapore Dollar 0.84 0.52 0.90 - - US Dollar 90.26 91.84 90.91 91.55 95.67 Cash And Cash Equivalent 5.08 5.59 6.20 7.21 3.02 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % % Fixed Income Securities: Corporate Bond 78.93 80.07 73.82 62.82 68.22 Government Bond 15.99 14.34 19.68 29.75 28.38 Treasury Bill - - 0.30 0.22 0.38 Mortgage Related - - - - - Time Deposit - - - - - Cash And Cash Equivalent 5.08 5.59 6.20 7.21 3.02

Total 100.00 100.00 100.00 100.00 100.00

Note: Asian Bond Fund is managed by Eastspring Investments (Singapore) Limited.

43PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Asia Property Securities Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Asian Property Securities Fund 105.15 102.19 102.41 101.02 102.15 Cash at Bank 0.18 - 0.04 0.05 0.01 Other Assets - - - - 0.23 Total Liabilities (5.33) (2.19) (2.45) (1.07) (2.39)

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 23,972,507 20,801,724 21,306,567 17,797,686 21,375,315 Units in Circulation 19,269,273 20,007,531 20,342,537 22,700,787 26,038,145 NAV Per Unit(RM) 1.244 1.040 1.047 0.784 0.821 Highest NAV per unit(RM) 1.252 1.180 1.057 0.844 0.817 Lowest NAV per unit(RM) 1.021 1.009 0.784 0.745 0.667 Total Return(+) -Capital Growth 19.66% (0.73%) 33.59% (4.50%) 12.05% -Income Distribution - - - - -

Average Annual Return -Fund(+) Period One year 19.66% Three years 16.64% Five years 11.17% Average Annual Return-Benchmark:GPR-Customized Asia Pac (Ex-Japan)Property Index Period One year 19.25% Three years 15.29% Five years 10.30%

44PRUlink funds

SI %

Ch

ang

e

40.00%

30.00%

20.00%

10.00%

0.00%

(10.00%)

(20.00%)

(30.00%)

(40.00%)

(50.00%)

(60.00%)

40.00%

30.00%

20.00%

10.00%

0.00%

(10.00%)

(20.00%)

(30.00%)

(40.00%)

(50.00%)

(60.00%)

PRUlink Asia Property Securities Fund Vs. GPR - Customized Asia Pac (Ex-Japan) Property Index

PRUlink Asia Property Securities Fund Performance(Since Inception)

Date



Feb-08

Jun-08

Feb-09

Sep-09

May-10

Jan-11

Sep-11

May-12

Jan-13

Aug-13

Apr-14

Oct-08

Jun-09

Jan-10

Sep-10

May-11

Jan-12

Sep-12

Apr-13

Dec-13

Aug-14

Dec-14

APSF

GPR

45PRUlink funds

For The Financial Year Ended 31 December ASIAN PROPERTY SECURITIES FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Australian Dollar 31.48 27.43 27.49 40.52 42.19 Thai Baht - 1.65 5.10 1.94 1.47 Hong Kong Dollar 27.27 29.27 25.29 19.30 9.38 Malaysian Ringgit - - 1.47 2.45 4.65 Singapore Dollar 24.28 27.55 27.43 12.80 19.33 Japanese Yen - 0.83 0.82 17.27 20.13 Indonesian Rupiah 4.98 4.83 6.28 1.57 1.33 Philippines Peso 3.66 4.33 4.33 1.40 - US Dollar 7.39 2.28 - - - Cash And Cash Equivalent 0.94 1.83 1.79 2.75 1.52 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % %

Equity: Breweries & Leisure & Hotels - - - - - Diversified Operations - - - - - Engineering & Construction 0.54 1.00 - - Equities - - - - 9.22 Financial - - - - 1.12 Holding Companies-Diversified - - - 1.89 - Home Builders - 1.65 2.93 - - Investment Trusts - - - - - Property - - - - 83.24 Real Estate 53.82 51.57 45.65 18.29 4.61 REITs 44.61 43.95 47.46 75.13 - Retail - - - - 0.29 Warrants 0.09 - - - - Closed-End Fund - - 2.17 1.94 - Mutual Fund - - - - - Cash And Cash Equivalent 0.94 1.83 1.79 2.75 1.52

Total 100.00 100.00 100.00 100.00 100.00

Note: Asian Property Securities Fund is managed by Eastspring Investments (Singapore) Limited.

46PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Asia Local Bond Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Asian Local Bond Fund 101.63 100.80 104.52 101.72 102.18 Cash at Bank 1.40 0.09 0.12 0.11 0.11 Other Assets - - - - - Total Liabilities (3.03) (0.89) (4.64) (1.83) (2.29)

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 8,595,083 7,932,219 7,952,237 6,825,378 3,520,349 Units in Circulation 5,520,106 5,659,708 5,587,652 5,089,125 2,798,666 NAV Per Unit(RM) 1.557 1.402 1.423 1.341 1.258 Highest NAV per unit(RM) 1.557 1.459 1.423 1.353 1.293 Lowest NAV per unit(RM) 1.387 1.369 1.332 1.235 1.211 Total Return(+) -Capital Growth 11.10% (1.52%) 6.11% 6.62% 3.49% -Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 11.10% Three years 5.10% Five years 5.08% Average Annual Return-Benchmark:HSBC Customised Index Composite Period One year 11.07% Three years 5.08% Five years 4.94%

47PRUlink funds

SI %

Ch

ang

e

Date

65.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

65.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

PRUlink Asia Local Bond Fund Vs. HSBC Customised Index Composite

PRUlink Asia Local Bond Fund Performance(Since Inception)

Sep-08

Jan-09

Aug-09

Apr-10

Nov-10

Jul-11

Feb-12

Oct-12

May-13

Jan-14

Aug-14

May-09

Dec-09

Aug-10

Mar-11

Oct-11

Jun-12

Jan-13

Sep-13

Apr-14

Dec-14

ALBF

HSBC



48PRUlink funds

For The Financial Year Ended 31 December ASIAN LOCAL BOND FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Malaysian Ringgit 12.21 10.82 11.13 9.31 9.74 Singapore Dollar 15.71 16.95 17.46 17.24 16.75 US Dollar 6.45 8.34 4.47 7.77 7.82 Hong Kong Dollar 3.81 4.43 6.26 10.66 10.50 Philippines Peso 7.19 6.41 7.13 6.22 4.55 Taiwan Dollar - - - - 8.91 Thai Baht 6.09 8.73 6.56 7.43 7.09 Indonesian Rupiah 13.86 11.49 13.44 12.76 12.09 Korean Won 17.41 17.96 19.78 18.96 18.69 Chinese Yuan Renminbi 1.51 0.66 0.40 0.45 0.03 Indian Rupee 9.66 8.00 8.72 5.18 - Vitnamese Dong 1.26 - - - - Cash And Cash Equivalent 4.84 6.21 4.65 4.02 3.83 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % % Fixed Income Securities: Corporate Bond 26.49 26.68 28.78 28.54 26.06 Government Bond 66.68 66.64 65.99 66.26 69.86 Convertible Bond 0.23 0.36 - 0.90 - Treasury Bill 0.94 - 0.58 - - Treasury Bond 0.75 - - - - Credit Default SWAPs - - 0.45 - - Interest Rate SWAPs - - 0.01 - - Time Deposit 2.43 3.96 2.14 - - Mortgage Related - - - 0.28 0.25 Certificate of Deposit 0.07 0.08 - - - Future - 0.03 - - - Cash And Cash Equivalent 2.41 2.25 2.05 4.02 3.83 Total 100.00 100.00 100.00 100.00 100.00

Note: Asian Local Bond Fund is managed by Eastspring Investments (Singapore) Limited.

49PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Global Market Navigator Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Global Market Navigator Fund 104.12 102.24 107.30 101.69 104.66 Cash at Bank 0.44 0.08 0.14 0.06 0.03 Other Assets - - - - - Total Liabilities (4.56) (2.32) (7.44) (1.75) (4.69)Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 13,680,676 16,349,222 17,523,576 24,262,751 33,294,895 Units in Circulation 9,095,602 11,602,152 14,530,098 22,010,863 28,676,558 NAV Per Unit(RM) 1.504 1.409 1.206 1.102 1.161 Highest NAV per unit(RM) 1.523 1.414 1.214 1.200 1.187 Lowest NAV per unit(RM) 1.377 1.206 1.093 1.023 1.050 Total Return(+) -Capital Growth 6.74% 16.84% 9.41% (5.06%) (2.14%)-Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 6.74% Three years 10.91% Five years 4.86% Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years 3.06%

50PRUlink funds

SI %

Ch

ang

e

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

PRUlink Global Market Navigator Fund Vs.12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Global Market Navigator Fund Performance(Since Inception)

Date

Sep-08

Jan-09

Aug-09

Mar-10

Oct-10

May-11

Dec-11

Jul-12

Feb-13

Sep-13

Apr-14

Apr-09

Nov-09

Jun-10

Jan-11

Sep-11

Apr-12

Nov-12

Jun-13

Jan-14

Aug-14

Dec-14

GMNF

12M MBB T1 FD rate



51PRUlink funds

For the financial year ended 31 December GLOBAL MARKET NAVIGATOR FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Australian Dollar - - - - (0.02)Brazil Real - - - - - British Pound 50.77 54.55 37.62 16.27 10.35 Euro 3.87 0.24 0.04 4.72 (0.40)Indonesian Rupiah - - - - - Japanese Yen - - - 5.26 0.07 Korean Won - - 0.07 3.01 - Malaysian Ringgit - - - 3.03 - Mexican Peso - 4.66 3.95 2.89 5.38 Philippines Peso - - - - 6.20 Singapore Dollar - - - - - Turkish Lira - - - - - US Dollar 34.91 28.68 44.85 40.25 25.93 Vietnamese Dong 2.21 2.08 2.21 - - Cash And Cash Equivalent 8.24 9.79 11.26 24.57 52.49 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % % Equities - - - - 2.00 Exchange Traded Fund - - - - - Futures 0.17 0.24 0.06 0.08 (0.10)Government Bond 3.26 13.58 6.16 21.91 11.58 Government Gilts - - - - 4.11 Investment Trusts - - - - - Mutual Fund 81.10 71.57 75.52 46.03 29.92 Time Deposit - 2.99 - - - Treasury Bills - - - - - Treasury Note 5.02 - - - - Treasury Bond 2.21 4.82 7.00 7.41 - Cash And Cash Equivalent 8.24 6.80 11.26 24.57 52.49 Total 100.00 100.00 100.00 100.00 100.00

Note: Global Market Navigator Fund is managed by Eastspring Investments (Singapore) Limited.

52PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dragon Peacock Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Dragon Peacock Fund 102.84 100.80 103.20 99.15 100.00 Cash and Deposits 0.01 0.06 0.10 1.18 2.29 Other Assets - - - 0.82 0.29 Total Liabilities (2.85) (0.86) (3.30) (1.15) (2.58)Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 39,488,468 33,089,246 31,108,083 23,965,651 24,799,116 Units in Circulation 33,191,501 33,097,899 32,551,066 29,206,015 22,632,337 NAV Per Unit(RM) 1.190 1.000 0.956 0.821 1.096 Highest NAV per unit(RM) 1.212 1.002 0.956 1.136 1.192 Lowest NAV per unit(RM) 0.917 0.846 0.793 0.799 0.940 Total Return(+) -Capital Growth 19.00% 4.61% 16.46% (25.11%) 9.57%-Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 19.00% Three years 13.18% Five years 3.55% Average Annual Return-Benchmark:50% MSCI China & 50% MSCI India Index1 Period One year 23.91% Three years 16.47% Five years 3.87%

53PRUlink funds

PRUlink Dragon Peacock Fund Vs. 50% MSCI China & 50% MSCI India Index 1

PRUlink Dragon Peacock Fund Performance(Since Inception)

SI %

Ch

ang

e



Date

Feb-10

May-10

Dec-10

Aug-11

Mar-12

Jul-12

Feb-13

Jul-12

Jan-14

Aug-14

Sep-10

Apr-11

Nov-11

Oct-12

Jun-13

Sep-13

May-14

Dec-14

PDPF

50% MSCI China &50% MSCI India Index

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

(10.00)%

(15.00)%

(20.00)%

(25.00)%

(30.00)%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

(10.00)%

(15.00)%

(20.00)%

(25.00)%

(30.00)%

54PRUlink funds

For The Financial Year Ended 31 December DRAGON PEACOCK FUND

Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Hong Kong Dollar 46.92 49.06 50.19 48.69 43.70 Indian Rupee 50.57 48.47 46.82 47.24 47.17 US Dollar - - 1.99 3.48 5.19 Cash And Cash Equivalent 2.51 2.47 1.00 0.59 3.94 Total 100.00 100.00 100.00 100.00 100.00 Category 2014 2013 2012 2011 2010 % % % % % Advertising - - 1.99 1.87 - Aerospace & Air Transport - - - - 2.14 Agricultural Operations 2.47 2.80 2.45 1.88 1.23 Auto - Auto Parts - - - - 5.11 Auto Manufacturers 7.35 7.62 7.60 4.04 - Banks 15.21 18.86 19.09 20.16 - Building & Construction - - - - 1.68 Building Materials - 1.08 1.48 2.51 - Chemicals & Pharmaceuticals 4.17 7.60 7.19 5.61 4.89 Coal 4.36 1.97 2.53 2.76 - Commercial Services 2.12 - - 0.75 - Computers & Software 10.60 11.77 6.60 8.80 11.08 Cosmetics/Personal Care - - 2.43 2.54 - Diversified Financial Services 6.16 4.58 5.84 4.91 - Electric 1.52 1.55 1.67 1.68 - Engineering & Construction 2.94 2.51 0.93 - - Electronics & Electrical Equipment - - - - 2.27 Energy - - - - 14.15 Equities - - - - 5.83 Extractive Industries - - - - 5.28 Financial - - - - 22.04 Food 1.46 2.32 - - - Forest Products & Paper - - 0.81 - - Gas - - 0.44 1.59 - Holding Companies-Diversified 1.74 - 0.27 0.24 -

55PRUlink funds

Note: Dragon Peacock Fund is managed by Eastspring Investments (Singapore) Limited and sub-managed by Eastspring Investments (HK) Limited.

For The Financial Year Ended 31 December DRAGON PEACOCK FUND

Category 2014 2013 2012 2011 2010 % % % % % Insurance 4.02 3.29 4.63 4.00 2.45 Internet 3.16 0.96 - 1.61 - Iron/Steel 2.94 1.33 1.32 1.19 - Manufacturing - - - - 4.28 Miscellaneous Manufacture - 0.92 1.14 0.90 - Media 0.20 1.13 1.18 1.26 - Mining 1.90 1.27 1.55 2.35 - Oil & Gas 8.86 13.06 12.51 13.90 1.17 Property - - - - 1.72 Real Estate 4.21 4.04 3.99 3.18 2.83 Retail 1.32 1.44 4.29 0.77 - Telecommunications 7.74 6.71 6.51 10.41 4.14 Transportation 1.48 0.72 0.56 0.50 - Transport & Telecomunications - - - - 3.77 Water 1.56 - - - - Cash And Cash Equivalent 2.51 2.47 1.00 0.59 3.94 Total 100.00 100.00 100.00 100.00 100.00

56PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Asia Equity Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Asian Equity Fund 100.76 98.71 99.69 98.90 97.58 Cash and Deposits 0.01 1.67 0.47 3.44 4.54 Other Assets 0.06 1.43 - 1.07 2.37 Total Liabilities (0.83) (1.81) (0.16) (3.41) (4.49)Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 26,133,906 19,529,158 15,477,304 11,775,825 7,215,048 Units in Circulation 23,154,760 19,487,798 15,615,933 13,741,239 6,793,498 NAV Per Unit(RM) 1.129 1.002 0.991 0.857 1.062Highest NAV per unit(RM) 1.134 1.020 0.992 1.078 1.075Lowest NAV per unit(RM) 0.936 0.875 0.853 0.789 0.999Total Return(+) -Capital Growth 12.63% 1.11% 15.65% (19.31%) 6.21%-Income Distribution - - - - - Average Annual Return -Fund(+) Period One year 12.63% Three years 9.61% Five years 2.80% Average Annual Return-Benchmark:MSCI Asia Ex-Japan Index Period One year 12.11% Three years 13.70% Five years 9.06%

57PRUlink funds

SI %

Ch

ang

e

60.00%

56.00%

52.00%

48.00%

44.00%

40.00%

36.00%

32.00%

28.00%

24.00%

20.00%

16.00%

12.00%

8.00%

4.00%

0.00%

(4.00)%

(8.00)%

(12.00)%

(16.00)%

(20.00)%

60.00%

56.00%

52.00%

48.00%

44.00%

40.00%

36.00%

32.00%

28.00%

24.00%

20.00%

16.00%

12.00%

8.00%

4.00%

0.00%

(4.00)%

(8.00)%

(12.00)%

(16.00)%

(20.00)%

PRUlink Asia Equity Fund Vs. MSCI Asia Ex-Japan Index

PRUlink Asia Equity Fund Performance(Since Inception)

Date



Aug-10

Dec-10

Aug-11

Apr-12

Dec-12

Apr-13

Dec-13

Aug-14

Apr-11

Dec-11

Aug-12

Aug-13

Apr-14

Dec-14

PAEF

MSCI Asia Ex-Japan Index

58PRUlink funds


Currency Breakdown 2014 2013 2012 2011 2010 % % % % % Thai Baht 2.82 3.28 2.74 2.68 2.95 Hong Kong Dollar 40.24 37.05 36.16 35.54 34.09 Indian Rupee 9.25 9.80 8.42 10.22 12.65 Indonesian Rupiah 2.56 3.42 4.95 3.72 3.24 Malaysian Ringgit 2.46 2.38 2.79 3.88 3.27 New Taiwan Dollar 11.62 11.25 12.61 13.89 14.28 Philippines Peso 0.55 1.13 1.26 0.48 0.88 Singapore Dollar 6.96 7.33 6.84 5.73 5.02 US Dollar 2.00 1.82 2.20 1.50 2.33 Korean Won 20.14 20.79 21.08 20.92 20.80 Cash And Cash Equivalent 1.40 1.75 0.95 1.44 0.49 Total 100.00 100.00 100.00 100.00 100.00

Category 2014 2013 2012 2011 2010 % % % % %

Equity Advertising - - 1.41 - - Agriculture - 1.49 1.18 - - Auto - Auto Parts & Equipment 1.46 1.73 1.32 1.77 2.41 Automobiles & Components - - 3.55 1.36 - Auto Manufacturers 4.66 4.95 - - - Banks 21.72 20.92 17.89 16.58 - Beverages - 0.79 - - - Breweries & Leisure & Hotels - - - - 0.81 Building & Construction - - - - 2.25 Building Materials - - 0.51 2.37 - Chemicals & Pharmaceuticals 1.54 1.62 5.68 2.45 3.51 Coal 1.31 1.56 2.68 1.69 - Commercial Services - - - 2.34 0.69 Computers & Software 4.61 2.17 2.39 4.90 8.17 Distribution / Wholesale 1.00 0.75 0.78 - - Diversified Financial Services 5.56 6.33 6.91 6.66 - Diversified Operations - - - - 1.99Electric 2.30 2.25 - - -

59PRUlink funds


Category 2014 2013 2012 2011 2010 % % % % % Electronics 2.14 3.47 - - - Electronics Components & Equipment - 1.30 7.32 7.09 9.84 Engineering & Construction 1.82 1.24 2.03 5.53 5.29 Equities - - - - 3.93 Extractive Industries - - - - 5.39 Financial - - - - 16.59 Food & Textiles & Apparel 3.01 3.55 0.72 0.68 1.94 Health Care 0.50 - 0.45 0.92 0.77 Home furnishing 1.55 - - - - Holding Companies-Diversified 8.16 5.84 2.72 4.88 3.40 Insurance 1.81 1.32 2.60 2.23 5.83 Investment Companies 0.65 0.64 - - - Iron / Steel 1.19 1.73 2.01 2.30 - Lodging 1.37 1.23 1.56 2.12 - Manufacturing - - - 1.00 1.05 Mining 1.30 - - 1.34 - Oil & Gas 5.71 6.95 3.14 4.14 - Pharmaceuticals - 0.53 1.29 1.25 - Property - - - - 1.65 Real Estate 6.06 6.79 7.73 4.81 3.04 REITs - - - 0.89 - Retail 1.07 2.21 4.43 2.58 3.59 Semiconductors 11.19 11.75 12.14 8.49 2.06 Shipbuilding - - 0.88 - - Telecommunications 6.91 4.45 4.23 7.37 1.10 Transport & Telecomunications - - - - 5.44 Transportations - 0.69 1.50 0.82 - Warrants - - - - 0.01 98.60 98.25 99.05 98.56 99.51 Cash And Cash Equivalent 1.40 1.75 0.95 1.44 0.49 Total 100.00 100.00 100.00 100.00 100.00

Note: Asian Equity Fund is managed by Eastspring Investments (Singapore) Limited.

60PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink MyOptimizer Fund

Category 2014 2013 2012 2011 2010 % % % % % Investment in- Structured Product 100.12 100.05 100.13 99.95 100.00 Cash at Bank 0.20 0.14 0.04 0.04 - Other Assets - - - 0.05 100.00 Total Liabilities (0.32) (0.19) (0.17) (0.04) (100.00)

Total 100.00 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 31,599,560 32,948,878 48,767,555 47,752,090 48,052,800 Units in Circulation 32,040,000 33,825,000 50,055,000 50,055,000 50,055,000 NAV Per Unit(RM) 0.986 0.974 0.974 0.954 0.960 Highest NAV per unit(RM) 0.986 0.988 0.976 0.980 0.960 Lowest NAV per unit(RM) 0.967 0.956 0.952 0.946 0.960 Total Return(+) -Capital Growth 1.25% (0.02%) 2.13% (0.63%) 0.00% -Income Distribution - - - - -

Average Annual Return -Fund(+) Period One year 1.25% Three years 1.11% Five years n/a

61PRUlink funds

PRUlink MyOptimizer fund

PRUlink MyOptimizer Fund Performance(Since Inception)

Date



SI %

Ch

ang

e

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.0%

(0.50)%

(1.00)%

(1.50)%

(2.00)%

Dec-10

Aug-11

Apr-12

Jan-11

Sep-1

1

May-12

Feb-11

Oct-11

Jun-12

Nov-12

May-13

Mar-11

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Apr-11

Dec-11

Jan-13

Jul-13

Dec-13

May-11

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Jun-11

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Jul-11

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

62PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Commodity Allocator Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 100.29 100.04 99.77 100.13 Cash at Bank 0.49 0.49 0.46 - Other Assets - - 0.23 - Total Liabilities (0.78) (0.53) (0.46) (0.13) Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 51,617,818 50,909,560 52,218,980 54,379,572 Units in Circulation 51,650,000 52,585,000 55,664,000 55,664,000 NAV Per Unit(RM) 0.999 0.968 0.938 0.977 Highest NAV per unit(RM) 0.999 0.968 0.983 0.977 Lowest NAV per unit(RM) 0.956 0.938 0.934 0.953 Total Return(+) -Capital Growth 3.23% 3.20% (3.97%) 1.50% -Income Distribution - - - - Average Annual Return -Fund(+) Period One year 3.23% Three years 0.76% Five years n/a

63PRUlink funds

PRUlink Commodity Allocator Fund

PRUlink Commodity Allocator Fund Performance(Since Inception)

Date

SI %

Ch

ang

e

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

(0.50%)

(1.00%)

(1.50%)

(2.00%)

(2.50%)

(3.00%)

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Apr-11

Dec-11

Jan-13

Jul-13

Dec-13

May-11

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Jun-11

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Jul-11

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14



64PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Commodity Allocator II Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 100.19 99.95 100.28 100.16 Cash and Deposits 0.57 0.56 - - Other Assets - 0.04 - - Total Liabilities (0.76) (0.55) (0.28) (0.16)Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 8,385,269 8,263,345 8,682,463 8,554,645 Units in Circulation 8,473,000 8,603,000 8,705,000 8,705,000 NAV Per Unit(RM) 0.990 0.961 0.997 0.983 Highest NAV per unit(RM) 0.990 1.004 0.997 0.983 Lowest NAV per unit(RM) 0.924 0.946 0.974 0.964 Total Return(+) -Capital Growth 3.03% (3.70%) 1.49% 1.84%-Income Distribution - - - -


65PRUlink funds

PRUlink Commodity Allocator II Fund

PRUlink Commodity Allocator II Fund Performance(Since Inception)

Date

SI %

Ch

ang

e

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

(0.50%)

(1.00%)

(1.50%)

(2.00%)

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Jul-11

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14



66PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dyna Growth I Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 100.03 99.83 99.71 99.81 Cash at Bank 0.40 0.39 0.38 - Other Assets 0.02 0.18 0.30 0.19 Total Liabilities (0.45) (0.40) (0.39) - Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 4,074,193 4,243,677 4,338,542 2,382,787 Units in Circulation 4,292,366 4,577,040 4,736,153 2,550,290 NAV Per Unit(RM) 0.949 0.927 0.916 0.934 Highest NAV per unit(RM) 0.984 1.002 0.950 1.000 Lowest NAV per unit(RM) 0.927 0.913 0.913 0.929 Total Return(+) -Capital Growth 2.37% 1.21% (1.96%) (6.57%) -Income Distribution - - - - Average Annual Return -Fund(+) Period One year 2.37% Three years 0.53% Five years n/a

67PRUlink funds

PRUlink Dyna Growth I Fund

PRUlink Dyna Growth I Fund Performance(Since Inception)

Date

SI %

Ch

ang

e

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)



68PRUlink funds

COMPARATIVE PERFORMANCE TABLE for financial year ended 31 December PRUlink Dyna Growth II Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 100.11 99.75 99.53 99.69 Cash at Bank 0.46 0.45 0.44 - Other Assets 0.03 0.27 0.49 0.31 Total Liabilities (0.60) (0.47) (0.46) - Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 4,233,601 4,326,134 4,369,558 2,424,589 Units in Circulation 4,570,131 4,864,252 5,026,421 2,702,908 NAV Per Unit(RM) 0.926 0.889 0.869 0.897 Highest NAV per unit(RM) 0.991 1.018 0.923 1.000 Lowest NAV per unit(RM) 0.889 0.865 0.864 0.888 Total Return(+) -Capital Growth 4.16% 2.31% (3.09%) (10.30%)-Income Distribution - - - -


69PRUlink funds

PRUlink Dyna Growth II Fund fund

PRUlink Dyna Growth II Fund Performance(Since Inception)

Date

SI %

Ch

ang

e

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

2.00%

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)

(10.00%)

(11.00%)

(12.00%)

(13.00%)

(14.00%)



70PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dyna Growth III Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 99.90 99.41 99.08 99.23 Cash at Bank 1.59 1.68 1.74 - Other Assets 0.62 0.66 0.92 0.77 Total Liabilities (2.11) (1.75) (1.74) -

Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 193,356 183,079 176,868 128,050 Units in Circulation 210,235 210,235 210,235 146,146 NAV Per Unit(RM) 0.920 0.871 0.841 0.876 Highest NAV per unit(RM) 1.008 1.039 0.909 1.000 Lowest NAV per unit(RM) 0.871 0.837 0.834 0.865 Total Return(+) -Capital Growth 5.61% 3.51% (3.98%) (12.38%)-Income Distribution - - - -


71PRUlink funds

PRUlink Dyna Growth III Fund

PRUlink Dyna Growth III Fund Performance(Since Inception)

Date

SI %

Ch

ang

e

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)

(10.00%)

(11.00%)

(12.00%)

(13.00%)

(14.00%)

(15.00%)

(16.00%)

(17.00%)

(18.00%)



72PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Dyna Growth IV Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Structured Product 100.02 99.41 98.97 99.16 Cash at Bank 2.13 2.27 2.38 - Other Assets 0.75 0.81 1.05 0.84 Total Liabilities (2.90) (2.49) (2.40) - Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 148,616 138,902 132,604 107,802 Units in Circulation 157,893 157,893 157,893 123,012 NAV Per Unit(RM) 0.941 0.880 0.840 0.876 Highest NAV per unit(RM) 1.028 1.052 0.911 1.000 Lowest NAV per unit(RM) 0.880 0.836 0.831 0.864 Total Return(+) -Capital Growth 6.99% 4.75% (4.17%) (12.36%) -Income Distribution - - - -


73PRUlink funds

PRUlink Dyna Growth IV Fund

PRUlink Dyna Growth IV Fund Performance(Since Inception)



Date

SI %

Ch

ang

e

Aug-11

Apr-12

Sep-1

1

May-12

Oct-11

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

6.00%5.00% 4.00%3.00%2.00%1.00% 0.00%

(1.00%) (2.00%) (3.00%) (4.00%) (5.00%) (6.00%) (7.00%) (8.00%) (9.00%)

(10.00%) (11.00%) (12.00%) (13.00%)(14.00%) (15.00%) (16.00%) (17.00%) (18.00%)

74PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Money Market Fund

Category 2014 2013 2012 2011 % % % %

Investment in- Cash and Deposits 211.48 99.77 132.87 99.40 Other Assets 1.63 1.00 1.13 0.64 Total Liabilities (113.11) (0.77) (34.00) (0.04)Total 100.00 100.00 100.00 100.00 Total Net Asset Value(RM) 5,244,198 11,040,816 4,384,691 1,156,088 Units in Circulation 4,650,815 10,255,069 4,217,391 1,150,764 NAV Per Unit(RM) 1.128 1.077 1.040 1.005 Highest NAV per unit(RM) 1.128 1.077 1.040 1.005 Lowest NAV per unit(RM) 1.077 1.040 1.005 1.000 Total Return(+) -Capital Growth 4.73% 3.55% 3.49% 0.46%-Income Distribution - - - - Average Annual Return -Fund(+) Period One year 4.73% Three years 3.93% Five years n/a Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years 3.17% Five years n/a

75PRUlink funds

PRUlink Money Market Fund Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate

PRUlink Money Market Fund Performance(Since Inception)

SI %

Ch

ang

e

20.00%

19.00%

18.00%

17.00%

16.00%

15.00%

14.00%

13.00%

12.00%

11.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

20.00%

19.00%

18.00%

17.00%

16.00%

15.00%

14.00%

13.00%

12.00%

11.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

Date



PMMF

12M MBB T1 FD rate

Apr-12

May-12

Jun-12

Nov-12

May-13

Nov-11

Jul-12

Dec-12

Jun-13

Nov-13

Dec-11

Jan-13

Jul-13

Dec-13

Jan-12

Aug-12

Feb-13

Aug-13

Jan-14

Feb-12

Sep-1

2

Mar-13

Sep-1

3

Feb-14

Mar-12

Oct-12

Apr-13

Oct-13

Mar-14

Apr-14

May-14

Aug-14

Jun-14

Sep-1

4

Jul-14

Oct-14

Dec-14

Nov-14

76PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Equity Fund II

Category 2014 2013 % % Equity

Automotive 2.92 3.69

Banking & Finance 23.15 26.30

Conglomerate 5.81 6.01

Construction 2.99 3.57

Consumer 6.68 3.01

Gaming 0.97 7.55

Manufacturing 3.39 1.90

Oil and Gas 8.23 13.03

Plantation / Natural Resources 4.99 6.54

Power / Utilities 6.93 5.46

Property 14.43 4.30

Technology 1.00 1.43

Telecommunication 14.12 8.92

Transportation 1.01 0.46

96.64 92.17

Cash and Deposits 5.43 16.84

Other Assets 0.19 0.19

Total Liabilities (2.26) (9.20)

Total 100.00 100.00

77PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Equity Fund II

Category 2014 2013 % %

Total Net Asset Value(RM) 1,897,745 711,360

Units in Circulation 1,804,951 680,759

NAV Per Unit(RM) 1.051 1.045

Highest NAV per unit(RM) 1.119 1.047

Lowest NAV per unit(RM) 1.004 0.992

Total Return(+)

-Capital Growth 0.62% 4.50%

-Income Distribution - -

Average Annual Return -Fund(+) Period

One year 0.62%

Three years n/a

Five years n/a

Average Annual Return-Benchmark: FTSE Bursa Malaysia Top 100 Index (FBM100) Period

One year (6.17%)

Three years n/a

Five years n/a

78PRUlink funds

SI %

Ch

ang

e

Jul-13

Aug-13

Nov-13

Sep-13

Dec-13

Oct-13

Jan-14

Feb-14

Apr-14

Jun-14

Mar-14

May-14

Jul-14

Aug-14

Sep-14

Oct-14

Nov-14

Dec-14

PRUlink Golden Equity Fund II Performance(Since Inception)

Date

16.00%

14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

(2.00)%

(4.00)%

16.00%

14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

(2.00)%

(4.00)%

PRUlink Golden Equity Fund II Vs. FTSE Bursa Malaysia Top 100 Index (FBM100)

PGE II

FBM100



79PRUlink funds

COMPARATIVE PERFORMANCE TABLE For Financial Year Ended 31 December PRUlink Golden Bond Fund II

Category 2014 2013 % % Investment in- Fixed Income Securities: -Corporate Bonds/Securities 95.90 94.31 Cash and Deposits 3.34 20.80 Other Assets 0.76 0.77 Total Liabilities 0.00 (15.88)Total 100.00 100.00

Total Net Asset Value(RM) 2,864,742 1,025,196 Units in Circulation 2,694,395 1,006,312 NAV Per Unit(RM) 1.063 1.019Highest NAV per unit(RM) 1.064 1.019Lowest NAV per unit(RM) 1.018 0.999Total Return(+) -Capital Growth 4.36% 1.88%-Income Distribution - - Average Annual Return -Fund(+) Period One year 4.36% Three years n/a Five years n/a Average Annual Return-Benchmark:12 Month Maybank Tier 1 Fixed Deposit Rate Period One year 3.22% Three years n/a Five years n/a

80PRUlink funds

SI %

Ch

ang

e

Jul-13

Aug-13

Nov-13

Sep-13

Dec-13

Oct-13

Jan-14

Feb-14

Apr-14

Jun-14

Mar-14

May-14

Jul-14

Aug-14

Sep-14

Oct-14

Nov-14

Dec-14

PRUlink Golden Bond Fund II Performance(Since Inception)

Date

PRUlink Golden Bond Fund II Vs. 12 Month Maybank Tier 1 Fixed Deposit Rate

PGB II

12M MBB T1 FD rate

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%



81PRUlink funds

As At 31 December 2014

RM % RM %

Investment Quoted Equities 7,844,393,738 97.39 7,182,511,102 92.50 Cash and Deposits Cash at Bank 10,453 0.00 18,876 0.00 Deposits 321,840,000 4.00 682,810,000 8.79 Other Assets 20,758,066 0.26 20,615,226 0.27 Total Assets 8,187,002,257 101.65 7,885,955,204 101.56 Provision for Taxation (9,978,474) (0.12) (1,785,912) (0.02) Provision for Deferred Tax (100,944,349) (1.25) (88,366,517) (1.14) Other Liabilities (21,643,544) (0.27) (31,222,005) (0.40) Total Liabilities (132,566,367) (1.65) (121,374,434) (1.56) Net Asset Value of the Fund 8,054,435,890 100.00 7,764,580,770 100.00 Policyholders’ Fund Capital 4,775,358,700 59.29 4,181,824,790 53.86Generated Income carried forward 3,279,077,190 40.71 3,582,755,980 46.14 8,054,435,890 100.00 7,764,580,770 100.00

Net Asset Value Per Unit (RM) 4.005 4.159

2014 2013

PRUlink Equity Fund

82PRUlink funds


RM % RM %

Investment Fixed Income Securities 2,292,569,048 97.29 2,104,199,986 99.60 Cash and Deposits Cash at Bank 19,655 0.00 3,840 0.00 Deposits 75,180,000 3.19 16,340,000 0.77 Deferred Tax Asset 212,407 0.01 - - Other Assets 22,739,633 0.96 20,828,796 0.99 Total Assets 2,390,720,743 101.45 2,141,372,622 101.36 Provision for Taxation (8,612,597) (0.36) (7,471,501) (0.36) Provision for Deferred Tax - - (249,633) (0.01) Other Liabilities (25,586,162) (1.09) (21,013,373) (0.99) Total Liabilities (34,198,759) (1.45) (28,734,507) (1.36) Net Asset Value of the Fund 2,356,521,984 100.00 2,112,638,115 100.00 Policyholders’ Fund Capital 1,934,898,945 82.11 1,767,442,823 83.66 Generated Income carried forward 421,623,039 17.89 345,195,292 16.34 2,356,521,984 100.00 2,112,638,115 100.00 Net Asset Value Per Unit (RM) 2.836 2.741

2014 2013

PRUlink Bond Fund

83PRUlink funds


RM % RM %

Investments in PRUlink Equity Fund 1,236,868,485 67.59 1,274,221,123 70.05 PRUlink Bond Fund 593,129,056 32.41 544,785,771 29.95 Total Assets 1,829,997,541 100.00 1,819,006,894 100.00 Other Liabilities (16,253) (0.00) (14,928) (0.00) Total Liabilities (16,253) (0.00) (14,928) (0.00) Net Asset Value of the Fund 1,829,981,288 100.00 1,818,991,966 100.00 Policyholders’ Fund Capital 1,062,183,184 58.04 1,018,209,463 55.98 Generated Income carried forward 767,798,104 41.96 800,782,503 44.02 1,829,981,288 100.00 1,818,991,966 100.00 Net Asset Value Per Unit (RM) 3.213 3.271

2014 2013

PRUlink Managed Fund

84PRUlink funds


RM % RM %

Investments in PRUlink Equity Fund 683,311,751 78.49 595,917,790 79.98 PRUlink Bond Fund 187,307,737 21.51 149,201,634 20.02 Total Assets 870,619,488 100.00 745,119,424 100.00 Other Liabilities (362) (0.00) (5) (0.00) Total Liabilities (362) (0.00) (5) (0.00) Net Asset Value of the Fund 870,619,126 100.00 745,119,419 100.00 Policyholders’ Fund Capital 702,358,555 80.67 558,234,629 74.92 Generated Income carried forward 168,260,571 19.33 186,884,790 25.08 870,619,126 100.00 745,119,419 100.00 Net Asset Value Per Unit (RM) 2.019 2.063

2014 2013

PRUlink Managed Fund II

85PRUlink funds


RM % RM %

Investment in PRUlink Equity Fund 279,757,602 100.00 245,100,416 100.00 Total Assets 279,757,602 100.00 245,100,416 100.00 Total Liabilities - - - - Net Asset Value of the Fund 279,757,602 100.00 245,100,416 100.00 Policyholders’ Fund Capital 218,784,859 78.21 173,983,706 70.98 Generated Income carried forward 60,972,743 21.79 71,116,710 29.02 279,757,602 100.00 245,100,416 100.00 Net Asset Value Per Unit (RM) 1.571 1.631

2014 2013

PRUlink Golden Equity Fund

86PRUlink funds


RM % RM %

Investment in PRUlink Bond Fund 758,789,424 100.00 580,115,443 100.00 Total Assets 758,789,424 100.00 580,115,443 100.00 Other Liabilities (10,395) (0.00) (7,947) (0.00) Total Liabilities (10,395) (0.00) (7,947) (0.00) Net Asset Value of the Fund 758,779,029 100.00 580,107,496 100.00 Policyholders’ Fund Capital 680,721,061 89.71 521,092,532 89.83 Generated Income carried forward 78,057,968 10.29 59,014,964 10.17 758,779,029 100.00 580,107,496 100.00 Net Asset Value Per Unit (RM) 1.295 1.259

2014 2013

PRUlink Golden Bond Fund

87PRUlink funds


RM % RM %

Investments in PRUlink Golden Equity Fund 23,530,592 17.74 21,826,654 21.49 PRUlink Golden Bond Fund 109,097,537 82.26 79,753,566 78.51 Other Assets - - 20 0.00 Total Assets 132,628,129 100.00 101,580,240 100.00 Other Liabilities (41) (0.00) - - Total Liabilities (41) (0.00) - - Net Asset Value of the Fund 132,628,088 100.00 101,580,240 100.00 Policyholders’ Fund Capital 126,899,471 95.68 97,768,821 96.25 Generated Income carried forward 5,728,617 4.32 3,811,419 3.75 132,628,088 100.00 101,580,240 100.00 Net Asset Value Per Unit (RM) 1.061 1.044

2014 2013

PRUlink Golden Managed Fund

88PRUlink funds


RM % RM %

Investment in PRUlink Equity Fund 1,850,174 100.00 1,477,243 100.00 Total Assets 1,850,174 100.00 1,477,243 100.00 Total Liabilities - - - - Net Asset Value of the Fund 1,850,174 100.00 1,477,243 100.00 Policyholders’ Fund Capital 1,676,445 90.61 1,234,612 83.58 Generated Income carried forward 173,729 9.39 242,631 16.42 1,850,174 100.00 1,477,243 100.00 Net Asset Value Per Unit (RM) 1.472 1.528

2014 2013

PRUlink Education Equity Fund

89PRUlink funds


RM % RM %

Investment in PRUlink Bond Fund 3,165,423 100.00 2,247,021 100.00 Total Asset 3,165,423 100.00 2,247,021 100.00 Other Liabilities (43) (0.00) (31) (0.00) Total Liabilities (43) (0.00) (31) (0.00) Net Asset Value of the Fund 3,165,380 100.00 2,246,990 100.00 Policyholders’ Fund Capital 2,985,641 94.32 2,148,456 95.61 Generated Income carried forward 179,739 5.68 98,534 4.39 3,165,380 100.00 2,246,990 100.00 Net Asset Value Per Unit (RM) 1.191 1.157

2014 2013

PRUlink Education Bond Fund

90PRUlink funds


RM % RM %

Investment Quoted Equities 768,763,148 98.94 704,624,785 96.76 Cash and Deposits Cash at Bank 8,523 0.00 11,093 0.00 Deposits 26,410,000 3.40 38,130,000 5.24 Other Assets 3,376,258 0.43 2,716,522 0.37 Total Assets 798,557,929 102.77 745,482,400 102.37 Provision for Taxation (3,014,622) (0.39) (2,384,357) (0.33) Provision for Deferred Tax (8,964,889) (1.15) (6,937,452) (0.95) Other Liabilities (9,567,370) (1.23) (7,970,015) (1.09) Total Liabilities (21,546,881) (2.77) (17,291,824) (2.37) Net Asset Value of the Fund 777,011,048 100.00 728,190,576 100.00 Policyholders’ Fund Capital 449,960,005 57.91 398,945,787 54.79 Generated Income carried forward 327,051,043 42.09 329,244,789 45.21 777,011,048 100.00 728,190,576 100.00 Net Asset Value Per Unit (RM) 3.411 3.419

2014 2013

PRUlink Dana Unggul

91PRUlink funds


RM % RM %

Investment Fixed Income Securities 108,964,988 98.98 95,121,780 99.01 Cash and Deposits Cash at Bank 5,747 0.01 25,052 0.02 Deposits 1,670,000 1.52 1,180,000 1.23 Deferred Tax Asset 2,792 0.00 - - Other Assets 1,184,927 1.08 1,056,214 1.10 Total Assets 111,828,454 101.58 97,383,046 101.36 Provision for Taxation (447,451) (0.41) (352,978) (0.37) Provision for Deferred Tax - - (17,847) (0.02) Other Liabilities (1,294,222) (1.17) (937,680) (0.97) Total Liabilities (1,741,673) (1.58) (1,308,505) (1.36) Net Asset Value of the Fund 110,086,781 100.00 96,074,541 100.00 Policyholders’ Fund Capital 88,015,013 79.95 78,074,141 81.26 Generated Income carried forward 22,071,768 20.05 18,000,400 18.74 110,086,781 100.00 96,074,541 100.00 Net Asset Value Per Unit (RM) 2.136 2.055

2014 2013

PRUlink Dana Aman

92PRUlink funds


RM % RM %

Investments in PRUlink Dana Unggul 100,590,705 67.20 105,719,748 70.36 PRUlink Dana Aman 49,090,411 32.80 44,532,649 29.64 Total Assets 149,681,116 100.00 150,252,397 100.00 Other Liabilities (1,345) (0.00) (1,220) (0.00) Total Liabilities (1,345) (0.00) (1,220) (0.00) Net Asset Value of the Fund 149,679,771 100.00 150,251,177 100.00 Policyholders’ Fund Capital 82,989,557 55.44 84,745,991 56.40 Generated Income carried forward 66,690,214 44.56 65,505,186 43.60 149,679,771 100.00 150,251,177 100.00 Net Asset Value Per Unit (RM) 2.911 2.888

2014 2013

PRUlink Dana Urus

93PRUlink funds


RM % RM %

Investments in PRUlink Dana Unggul 64,558,597 78.52 53,482,734 80.43 PRUlink Dana Aman 17,660,862 21.48 13,010,787 19.57 Other Assets - - 8 0.00 Total Assets 82,219,459 100.00 66,493,529 100.00 Other Liabilities (34) (0.00) - - Total Liabilities (34) (0.00) - - Net Asset Value of the Fund 82,219,425 100.00 66,493,529 100.00 Policyholders’ Fund Capital 63,881,039 77.70 48,597,982 73.09 Generated Income carried forward 18,338,386 22.30 17,895,547 26.91 82,219,425 100.00 66,493,529 100.00 Net Asset Value Per Unit (RM) 2.143 2.127

2014 2013

PRUlink Dana Urus II

94PRUlink funds


RM % RM %

Investments in Asian Equity Fund 158,137,691 82.10 134,004,000 72.34 Asian Bond Fund 42,475,573 22.05 56,939,060 30.74 Cash at Bank 12,578 0.01 102,180 0.06 Total Assets 200,625,842 104.16 191,045,240 103.14 Provision for Taxation (773,876) (0.40) (316,970) (0.17) Provision for Deferred Tax (3,851,421) (2.00) (1,342,621) (0.73) Other Liabilities (3,387,723) (1.76) (4,144,833) (2.24) Total Liabilities (8,013,020) (4.16) (5,804,424) (3.14) Net Asset Value of the Fund 192,612,822 100.00 185,240,816 100.00 Policyholders’ Fund Capital 137,060,445 71.16 151,367,349 81.71 Generated Income carried forward 55,552,377 28.84 33,873,467 18.29 192,612,822 100.00 185,240,816 100.00 Net Asset Value Per Unit (RM) 1.484 1.320

2014 2013

PRUlink Asia Managed Fund

95PRUlink funds


RM % RM %

Investment in Asian Property Securities Fund 25,208,043 105.15 21,256,829 102.19 Cash at Bank 42,831 0.18 861 0.00 Total Assets 25,250,874 105.33 21,257,690 102.19 Provision for Taxation (33,769) (0.14) (38,724) (0.19) Provision for Deferred Tax (783,732) (3.27) (235,090) (1.13) Other Liabilities (460,866) (1.92) (182,152) (0.87) Total Liabilities (1,278,367) (5.33) (455,966) (2.19) Net Asset Value of the Fund 23,972,507 100.00 20,801,724 100.00 Policyholders’ Fund Capital 15,059,588 62.82 15,959,345 76.72 Generated Income carried forward 8,912,919 37.18 4,842,379 23.28 23,972,507 100.00 20,801,724 100.00 Net Asset Value Per Unit (RM) 1.244 1.040

2014 2013

PRUlink Asia Property Securities Fund

96PRUlink funds


RM % RM %

Investment in Asian Local Bond Fund 8,735,351 101.63 7,995,904 100.80 Cash and Deposits Cash at Bank 4,851 0.06 6,753 0.09 Deposits 115,000 1.34 - - Other Assets 27 0.00 - - Total Assets 8,855,229 103.03 8,002,657 100.89 Provision for Taxation (10,409) (0.12) (8,481) (0.11) Provision for Deferred Tax (103,900) (1.21) (35,252) (0.44) Other Liabilities (145,837) (1.70) (26,705) (0.34) Total Liabilities (260,146) (3.03) (70,438) (0.89) Net Asset Value of the Fund 8,595,083 100.00 7,932,219 100.00 Policyholders’ Fund Capital 6,884,030 80.09 7,045,800 88.83 Generated Income carried forward 1,711,053 19.91 886,419 11.17 8,595,083 100.00 7,932,219 100.00 Net Asset Value Per Unit (RM) 1.557 1.402

2014 2013

PRUlink Asia Local Bond Fund

97PRUlink funds


RM % RM %

Investment in Global Market Navigator Fund 14,244,787 104.12 16,715,727 102.24 Cash at Bank 59,383 0.44 13,795 0.08 Total Assets 14,304,170 104.56 16,729,522 102.32 Provision for Taxation (80,376) (0.59) (79,269) (0.48) Provision for Deferred Tax (307,156) (2.25) (150,138) (0.92) Other Liabilities (235,961) (1.72) (150,893) (0.92) Total Liabilities (623,493) (4.56) (380,300) (2.32) Net Asset Value of the Fund 13,680,677 100.00 16,349,222 100.00 Policyholders’ Fund Capital 9,320,597 68.13 12,908,528 78.95 Generated Income carried forward 4,360,080 31.87 3,440,694 21.05 13,680,677 100.00 16,349,222 100.00 Net Asset Value Per Unit (RM) 1.504 1.409

2014 2013

PRUlink Global Market Navigator Fund

98PRUlink funds


RM % RM %

Investment in Dragon Peacock Fund 40,611,446 102.84 33,355,052 100.80 Cash at Bank 4,475 0.01 19,647 0.06 Other Assets - - 1,107 0.00 Total Assets 40,615,921 102.85 33,375,806 100.86 Provision for Taxation (19,577) (0.05) - - Provision for Deferred Tax (325,689) (0.82) (90,867) (0.27) Other Liabilities (782,187) (1.98) (195,693) (0.59) Total Liabilities (1,127,453) (2.85) (286,560) (0.86) Net Asset Value of the Fund 39,488,468 100.00 33,089,246 100.00 Policyholders’ Fund Capital 32,506,180 82.32 32,599,252 98.52 Generated Income carried forward 6,982,288 17.68 489,994 1.48 39,488,468 100.00 33,089,246 100.00 Net Asset Value Per Unit (RM) 1.190 1.000

2014 2013

PRUlink Dragon Peacock Fund

99PRUlink funds


RM % RM %

Investment in Asian Equity Fund 26,331,579 100.76 19,276,796 98.71 Cash and Deposits Cash at Bank 1,954 0.01 17,054 0.08 Deposits - - 310,000 1.59 Other Assets 16,827 0.06 280,691 1.43 Total Assets 26,350,360 100.83 19,884,541 101.81 Provision for Taxation - - (2,554) (0.01) Provision for Deferred Tax (216,434) (0.83) (41,444) (0.21) Other Liabilities (20) (0.00) (311,385) (1.59) Total Liabilities (216,454) (0.83) (355,383) (1.81) Net Asset Value of the Fund 26,133,906 100.00 19,529,158 100.00 Policyholders’ Fund Capital 23,140,874 88.55 19,318,585 98.92 Generated Income carried forward 2,993,032 11.45 210,573 1.08 26,133,906 100.00 19,529,158 100.00 Net Asset Value Per Unit (RM) 1.129 1.002

2014 2013

PRUlink Asia Equity Fund

100PRUlink funds


RM % RM %

Investment Structured Product 31,638,218 100.12 32,964,154 100.05 Cash at Bank 61,851 0.20 45,164 0.14 Total Assets 31,700,069 100.32 33,009,318 100.19 Provision for Taxation (11,812) (0.04) - - Provision for Deferred Tax (70,385) (0.22) (39,372) (0.12) Other Liabilities (18,312) (0.06) (21,068) (0.07) Total Liabilities (100,509) (0.32) (60,440) (0.19) Net Asset Value of the Fund 31,599,560 100.00 32,948,878 100.00 Policyholders’ Fund Capital 31,111,995 98.46 32,784,469 99.50 Generated Income carried forward 487,565 1.54 164,409 0.50 31,599,560 100.00 32,948,878 100.00 Net Asset Value Per Unit (RM) 0.986 0.974

2014 2013

PRUlink MyOptimizer Fund

101PRUlink funds


RM % RM %

Investment Structured Product 51,768,795 100.29 50,929,624 100.04 Cash at Bank 254,110 0.49 247,526 0.49 Total Assets 52,022,905 100.78 51,177,150 100.53 Provision for Taxation (1,233) (0.00) - - Provision for Deferred Tax (164,454) (0.32) (25,325) (0.05) Other Liabilities (239,400) (0.46) (242,265) (0.48) Total Liabilities (405,087) (0.78) (267,590) (0.53) Net Asset Value of the Fund 51,617,818 100.00 50,909,560 100.00 Policyholders’ Fund Capital 49,745,379 96.37 50,654,149 99.50 Generated Income carried forward 1,872,439 3.63 255,411 0.50 51,617,818 100.00 50,909,560 100.00 Net Asset Value Per Unit (RM) 0.999 0.968

2014 2013


102PRUlink funds


RM % RM %

Investment Structured Product 8,400,980 100.19 8,258,880 99.95 Cash at Bank 47,606 0.57 46,378 0.56 Deferred Tax Asset - - 3,441 0.04 Total Assets 8,448,586 100.76 8,308,699 100.55 Provision for Taxation - - (45,349) (0.55) Provision for Deferred Tax (17,963) (0.21) - - Other Liabilities (45,354) (0.54) (5) (0.00) Total Liabilities (63,317) (0.76) (45,354) (0.55) Net Asset Value of the Fund 8,385,269 100.00 8,263,345 100.00 Policyholders’ Fund Capital 8,182,856 97.59 8,303,731 100.49 Generated Income/(Loss) carried forward 202,413 2.41 (40,386) (0.49) 8,385,269 100.00 8,263,345 100.00 Net Asset Value Per Unit (RM) 0.990 0.961

2014 2013


103PRUlink funds


RM % RM %

Investment Structured Product 4,075,457 100.03 4,236,266 99.83 Cash at Bank 16,382 0.40 16,382 0.39 Tax Asset 888 0.02 1,037 0.02 Deferred Tax Asset - - 6,785 0.16 Total Assets 4,092,727 100.45 4,260,470 100.40 Provision for Deferred Tax (1,851) (0.05) - - Other Liabilities (16,683) (0.41) (16,793) (0.40) Total Liabilities (18,534) (0.45) (16,793) (0.40) Net Asset Value of the Fund 4,074,193 100.00 4,243,677 100.00 Policyholders’ Fund Capital 4,063,137 99.73 4,333,640 102.12 Generated Income/(Loss) carried forward 11,056 0.27 (89,963) (2.12) 4,074,193 100.00 4,243,677 100.00 Net Asset Value Per Unit (RM) 0.949 0.927

2014 2013


104PRUlink funds


RM % RM %

Investment Structured Product 4,238,108 100.11 4,315,285 99.75 Cash at Bank 19,421 0.46 19,421 0.45 Tax Asset 1,179 0.03 1,625 0.04 Deferred Tax Asset - - 9,748 0.23 Total Assets 4,258,708 100.59 4,346,079 100.47 Provision for Deferred Tax (5,541) (0.13) - - Other Liabilities (19,566) (0.46) (19,945) (0.47) Total Liabilities (25,107) (0.59) (19,945) (0.47) Net Asset Value of the Fund 4,233,601 100.00 4,326,134 100.00 Policyholders’ Fund Capital 4,183,446 98.82 4,456,938 103.02 Generated Income/(Loss) carried forward 50,155 1.18 (130,804) (3.02) 4,233,601 100.00 4,326,134 100.00 Net Asset Value Per Unit (RM) 0.926 0.889

2014 2013

PRUlink Dyna Growth II Fund

105PRUlink funds


RM % RM %

Investment Structured Product 193,168 99.90 181,997 99.41 Cash at Bank 3,071 1.59 3,071 1.68 Tax Asset 1,204 0.62 1,204 0.66 Total Assets 197,443 102.11 186,272 101.75 Provision for Deferred Tax (1,001) (0.52) (107) (0.06) Other Liabilities (3,086) (1.60) (3,086) (1.69) Total Liabilities (4,087) (2.11) (3,193) (1.75) Net Asset Value of the Fund 193,356 100.00 183,079 100.00 Policyholders’ Fund Capital 195,718 101.22 195,718 106.90 Generated Loss carried forward (2,362) (1.22) (12,639) (6.90) 193,356 100.00 183,079 100.00 Net Asset Value Per Unit (RM) 0.920 0.871

2014 2013


106PRUlink funds


RM % RM %

Investment Structured Product 148,644 100.02 138,086 99.41 Cash at Bank 3,161 2.13 3,160 2.27 Tax Asset 1,121 0.75 1,121 0.81 Total Assets 152,926 102.90 142,367 102.49 Provision for Deferred Tax (1,130) (0.76) (285) (0.20) Other Liabilities (3,180) (2.14) (3,180) (2.29) Total Liabilities (4,310) (2.90) (3,465) (2.49) Net Asset Value of the Fund 148,616 100.00 138,902 100.00 Policyholders’ Fund Capital 148,532 99.94 148,532 106.93 Generated Income/(Loss) carried forward 84 0.06 (9,630) (6.93) 148,616 100.00 138,902 100.00 Net Asset Value Per Unit (RM) 0.941 0.880

2014 2013


107PRUlink funds


RM % RM %

Cash and Deposits Cash at Bank 868 0.02 814 0.01 Deposits 11,090,000 211.46 11,015,000 99.76 Other Assets 85,264 1.63 110,497 1.00 Total Assets 11,176,132 213.11 11,126,311 100.77 Provision for Taxation (29,643) (0.56) (21,132) (0.19) Other Liabilities (5,902,291) (112.55) (64,363) (0.58) Total Liabilities (5,931,934) (113.11) (85,495) (0.77) Net Asset Value of the Fund 5,244,198 100.00 11,040,816 100.00 Policyholders’ Fund Capital 4,567,922 87.10 10,693,530 96.85 Generated Income carried forward 676,276 12.90 347,286 3.15 5,244,198 100.00 11,040,816 100.00 Net Asset Value Per Unit (RM) 1.128 1.077

2014 2013

PRUlink Money Market Fund

108PRUlink funds


RM % RM %

Investment Quoted Equities 1,833,933 96.64 655,634 92.17 Cash and Deposits Cash at Bank 2,964 0.16 9,789 1.38 Deposits 100,000 5.27 110,000 15.46 Tax Assets 289 0.01 288 0.04 Other Assets 3,465 0.18 1,063 0.15 Total Assets 1,940,651 102.26 776,774 109.20 Other Liabilities (42,906) (2.26) (65,414) (9.20) Total Liabilities (42,906) (2.26) (65,414) (9.20) Net Asset Value of the Fund 1,897,745 100.00 711,360 100.00 Policyholders’ Fund Capital 1,896,999 99.96 691,434 97.20 Generated Income carried forward 746 0.04 19,926 2.80 1,897,745 100.00 711,360 100.00 Net Asset Value Per Unit (RM) 1.051 1.045

2014 2013

PRUlink Golden Equity Fund II

109PRUlink funds


RM % RM %

Investment Fixed Income Securities 2,747,237 95.90 966,813 94.31 Cash and Deposits Cash at Bank 95,821 3.34 83,274 8.12 Deposits - - 130,000 12.68 Other Assets 21,881 0.76 7,924 0.77 Total Assets 2,864,939 100.00 1,188,011 115.88 Other Liabilities (197) (0.00) (162,815) (15.88) Total Liabilities (197) (0.00) (162,815) (15.88) Net Asset Value of the Fund 2,864,742 100.00 1,025,196 100.00 Policyholders’ Fund Capital 2,779,472 97.02 1,016,468 99.15 Generated Income carried forward 85,270 2.98 8,728 0.85 2,864,742 100.00 1,025,196 100.00 Net Asset Value Per Unit (RM) 1.063 1.019

2014 2013

PRUlink Golden Bond Fund II

110PRUlink funds

For The Financial Year Ended 31 December 2014


PRUlink Equity Fund

PRUlink Bond Fund

2014 2013

RM RM

Net Asset Value at beginning of year 7,764,580,770 6,570,022,228

Amounts received from units created 1,881,590,064 1,542,731,051 Amounts paid for units cancelled (1,288,056,154) (1,121,858,095)

Net (Outgo)/Income (303,678,790) 773,685,586 Value of fund at end of year 8,054,435,890 7,764,580,770

2014 2013

RM RM


Amounts received from units created 419,252,748 740,986,081

Amounts paid for units cancelled (251,796,626) (415,862,377)

Excess of Income over Outgo 76,427,747 41,913,187

Value of fund at end of year 2,356,521,984 2,112,638,115

111PRUlink funds





2014 2013

RM RM




Net (Outgo)/Income (32,984,399) 136,788,051

Value of fund at end of year 1,829,981,288 1,818,991,966

2014 2013

RM RM

Net Asset Value at beginning of year 745,119,419 552,328,913



Net (Outgo)/Income (18,624,219) 58,616,076

Value of fund at end of year 870,619,126 745,119,419

112PRUlink funds





2014 2013

RM RM




Net (Outgo)/Income (10,143,967) 23,892,621


2014 2013

RM RM






113PRUlink funds





2014 2013

RM RM






2014 2013

RM RM

Net Asset Value at beginning of year 1,477,243 931,052

Amounts received from units created 742,735 673,563

Amounts paid for units cancelled (300,902) (263,223)

Net (Outgo)/Income (68,902) 135,851


114PRUlink funds




PRUlink Dana Unggul

2014 2013

RM RM




Excess of Income over Outgo 81,205 28,426


2014 2013

RM RM




Net (Outgo)/Income (2,193,746) 98,026,179


115PRUlink funds



PRUlink Dana Aman

PRUlink Dana Urus

2014 2013

RM RM






2014 2013

RM RM






116PRUlink funds





2014 2013

RM RM




Excess of Income over Outgo 442,839 6,922,734


2014 2013

RM RM






117PRUlink funds





2014 2013

RM RM




Net Income/(Outgo) 4,070,540 (124,906)


2014 2013

RM RM




Net Income/(Outgo) 824,634 (116,342)


118PRUlink funds





2014 2013

RM RM






2014 2013

RM RM






119PRUlink funds



PRUlink Asia Equity Fund


2014 2013

RM RM




Excess of Income over Outgo 2,782,459 400,771


2014 2013

RM RM


Amounts received from units created - -


Net Income/(Outgo) 323,156 (550,346)


120PRUlink funds





2014 2013

RM RM



Amounts paid for units cancelled (908,770) (2,922,451)



2014 2013

RM RM




Net Income/(Outgo) 242,799 (322,524)


121PRUlink funds





2014 2013

RM RM


Amounts received from units created - 124,550




2014 2013

RM RM


Amounts received from units created - 124,550




122PRUlink funds





2014 2013

RM RM

Net Asset Value at beginning of year 183,079 176,868


Amounts paid for units cancelled - -


Value of fund at end of year 193,356 183,079

2014 2013

RM RM

Net Asset Value at beginning of year 138,902 132,604


Amounts paid for units cancelled - -


Value of fund at end of year 148,616 138,902

123PRUlink funds





2014 2013

RM RM






2014 2013

RM RM

Net Asset Value at beginning of year 711,360 -

Amounts received from units created 1,303,899 697,203



Value of fund at end of year 1,897,745 711,360

124PRUlink funds

For the financial year ended 31 December 2014For The Financial Year Ended 31 December 2014 PRUlink Golden Bond Fund II

2014 2013

RM RM

Net Asset Value at beginning of year 1,025,196 -





125PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Equity Fund

2014 2013

RM RM

Net Investment Income 259,726,952 262,538,746

Interest income 16,166,627 21,359,919

Dividend income 243,560,325 241,178,827

Profits on Disposal of Securities 108,560,819 95,943,496

Unrealised Capital Gain - 559,448,411

Total Income 368,287,771 917,930,653

Investment Management Fees (119,746,442) (105,175,021)

Unrealised Capital Loss (526,525,163) -

Taxation (25,434,241) (38,893,643)

Other Outgo (260,715) (176,403)

Total Outgo (671,966,561) (144,245,067)

Net (Outgo)/Income (303,678,790) 773,685,586

Generated Income brought forward 3,582,755,980 2,809,070,394

Generated Income carried forward 3,279,077,190 3,582,755,980

126PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Bond Fund

2014 2013

RM RM


Interest income 106,880,648 92,044,547

Profits on Disposal of Securities 776,809 1,349,213

Total Income 107,657,457 93,393,760


Unrealised Capital Loss (11,916,906) (36,349,557)

Taxation (8,146,810) (5,208,518)

Other Outgo (43,660) (46,502)

Total Outgo (31,229,710) (51,480,573)


Generated Income brought forward 345,195,292 303,282,105

Generated Income carried forward 421,623,039 345,195,292

127PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Managed Fund

2014 2013

RM RM


Fee Rebate 21,803,380 20,609,037



Total Income 86,672,624 162,631,964



Total Outgo (119,657,023) (25,843,913)

Net (Outgo)/Income (32,984,399) 136,788,051



128PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Managed Fund II

2014 2013

RM RM


Fee Rebate 10,493,468 8,195,926



Total Income 37,542,237 66,861,986



Total Outgo (56,166,456) (8,245,910)

Net (Outgo)/Income (18,624,219) 58,616,076



129PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Golden Equity Fund

2014 2013

RM RM


Fee Rebate 3,907,423 3,179,293



Total Income 13,670,019 27,072,044



Total Outgo (23,813,986) (3,179,423)

Net (Outgo)/Income (10,143,967) 23,892,621



130PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Golden Bond Fund

2014 2013

RM RM


Fee Rebate 3,225,548 2,599,029


Unrealised Capital Gain 18,763,900 6,521,937

Total Income 25,494,111 13,412,137


Total Outgo (6,451,107) (5,198,065)




131PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Golden Managed Fund

2014 2013

RM RM

Net Investment Income 1,260,973 971,086

Fee Rebate 1,260,973 971,086

Profits on Disposal of Securities 1,339,218 577,828

Unrealised Capital Gain 590,883 2,492,322

Total Income 3,191,074 4,041,236

Investment Management Fees (1,254,647) (970,464)

Loss on Disposal of Securities (19,229) -

Total Outgo (1,273,876) (970,464)


Generated Income brought forward 3,811,419 740,647


132PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Education Equity Fund

2014 2013

RM RM

Net Investment Income 25,357 17,789

Fee Rebate 25,357 17,789

Profits on Disposal of Securities 30,704 27,588

Unrealised Capital Gain - 108,264

Total Income 56,061 153,641

Investment Management Fees (25,358) (17,790)

Unrealised Capital Loss (99,605) -

Total Outgo (124,963) (17,790)


Generated Income brought forward 242,631 106,780

Generated Income carried forward 173,729 242,631

133PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Education Bond Fund

2014 2013

RM RM


Fee Rebate 13,522 9,302


Unrealised Capital Gain 74,282 19,047



Total Outgo (27,044) (18,603)




134PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dana Unggul

2014 2013

RM RM


Interest income 1,229,886 2,061,455

Dividend income 22,487,280 19,447,407



Total Income 60,169,927 113,337,119



Taxation (5,252,031) (5,722,985)

Other Outgo (31,903) (32,964)

Total Outgo (62,363,673) (15,310,940)

Net (Outgo)/Income (2,193,746) 98,026,179



135PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dana Aman

2014 2013

RM RM


Interest income 4,946,481 4,270,200


Total Income 5,593,142 4,412,226


Unrealised Capital Loss (578,629) (2,660,856)

Taxation (426,374) (169,466)

Other Outgo (2,892) (5,463)

Total Outgo (1,521,774) (3,304,495)




136PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dana Urus

2014 2013

RM RM


Fee Rebate 1,782,065 1,666,084



Total Income 8,508,823 16,931,327



Total Outgo (7,323,795) (2,094,040)




137PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dana Urus II

2014 2013

RM RM


Fee Rebate 930,955 704,926



Total Income 4,620,780 7,632,978



Total Outgo (4,177,941) (710,244)




138PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Asia Managed Fund

2014 2013

RM RM

Net Investment Income 276,309 (855,718)

Interest income 106 2,332

Others 276,203 (858,050)



Total Income 27,460,222 7,287,551


Taxation (3,284,291) (177,828)

Other Outgo (212) (1,035)

Total Outgo (5,781,312) (2,702,771)




139PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Asia Property Securities Fund

2014 2013

RM RM

Net Investment Income 7,379 (48,209)

Interest income 511 333

Others 6,868 (48,542)


Unrealised Capital Gain 4,572,513 -

Total Income 4,994,623 484,047


Unrealised Capital Loss - (272,268)

Taxation (581,947) (7,909)

Other Outgo (48) (157)

Total Outgo (924,083) (608,953)

Net Income/(Outgo) 4,070,540 (124,906)



140PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Asia Local Bond Fund

2014 2013

RM RM



Others 33,185 1,361


Unrealised Capital Gain 850,378 -

Total Income 980,494 106,015



Taxation (78,774) (2,038)


Total Outgo (155,860) (222,357)

Net Income/(Outgo) 824,634 (116,342)

Generated Income brought forward 886,419 1,002,761

Generated Income carried forward 1,711,053 886,419

141PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Global Market Navigator Fund

2014 2013

RM RM

Net Investment Income 378 744


Profits on Disposal of Securities 1,004,322 990,120

Unrealised Capital Gain 341,960 1,660,166

Total Income 1,346,660 2,651,030


Taxation (238,383) (111,467)


Total Outgo (427,274) (308,952)




142PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dragon Peacock Fund

2014 2013

RM RM

Net Investment Income 88,466 739


Others 88,055 -

Profits on Disposal of Securities 156,249 -


Total Income 7,278,440 2,025,645


Loss on Disposal of Securities - (6,173)

Taxation (255,255) (78,535)


Total Outgo (786,146) (550,980)


Generated Income/(Loss) brought forward 489,994 (984,671)


143PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Asia Equity Fund

2014 2013

RM RM

Net Investment Income (2,773) (3,705)

Interest income 1,695 1,464

Others (4,468) (5,169)

Unrealised Capital Gain 3,292,572 632,444

Profits on Disposal of Securities - 35,638

Total Income 3,289,799 664,377


Taxation (176,214) (14,947)

Other Outgo (1,111) (1,026)

Total Outgo (507,340) (263,606)

Excess of Income over Outgo 2,782,459 400,771

Generated Income/(Loss) brought forward 210,573 (190,198)


144PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink MyOptimizer Fund

2014 2013

RM RM




Tax Income - 22,776

Total Income 576,444 300,795



Loss on Disposal of Securities (41,127) (312,469)

Taxation (40,069) -

Total Outgo (253,288) (851,141)

Net Income/(Outgo) 323,156 (550,346)



145PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Commodity Allocator Fund

2014 2013

RM RM



Profits on Disposal of Securities 8,833 -


Total Income 1,754,525 1,797,491

Loss on Disposal of Securities - (41,087)

Taxation (137,497) (143,373)

Total Outgo (137,497) (184,460)


Generated Income/(Loss) brought forward 255,411 (1,357,620)


146PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Commodity Allocator II Fund

2014 2013

RM RM




Total Income 268,778 568,698

Investment Management Fees - (522,321)


Loss on Disposal of Securities (4,575) (1,836)

Taxation (21,404) (17,373)

Total Outgo (25,979) (891,222)

Net Income/(Outgo) 242,799 (322,524)

Generated (Loss)/Income brought forward (40,386) 282,138

Generated Income/(Loss) carried forward 202,413 (40,386)

147PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dyna Growth I Fund

2014 2013

RM RM


Profit on Disposal of Securities 1,860 -


Loss on Disposal of Securities - (280)

Taxation (8,785) (5,030)

Total Outgo (8,785) (5,310)


Generated Loss brought forward (89,963) (147,798)


148PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dyna Growth II Fund

2014 2013

RM RM



Total Income 196,694 119,408

Taxation (15,735) (9,553)

Total Outgo (15,735) (9,553)




149PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dyna Growth III Fund

2014 2013

RM RM



Taxation (894) (540)

Total Outgo (894) (540)



Generated Loss carried forward (2,362) (12,639)

150PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Dyna Growth IV Fund

2014 2013

RM RM



Taxation (845) (548)

Total Outgo (845) (548)



Generated Income/(Loss) carried forward 84 (9,630)

151PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Money Market Fund

2014 2013

RM RM



Total Income 370,524 264,143

Investment Management Fees (11,091) -

Taxation (29,557) (21,477)

Other Outgo (886) (1,060)

Total Outgo (41,534) (22,537)




152PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Golden Equity Fund II

2014 2013

RM RM


Interest income 2,482 616

Dividend income 32,097 3,269

Profits on Disposal of Securities - 86

Unrealised Capital Gain - 19,371



Loss on Disposal (13,422) -

Unrealised Capital Loss (17,902) -

Other Outgo (4,062) (1,803)

Total Outgo (53,759) (3,416)


Generated Income brought forward 19,926 -

Generated Income carried forward 746 19,926

153PRUlink funds

For The Financial Year Ended 31 December 2014 PRUlink Golden Bond Fund II

2014 2013

RM RM







Total Outgo (18,484) (1,965)


Generated Income brought forward 8,728 -


154PRUlink funds

1. Summary of Significant Accounting Policies

a. Basis of Accounting

The financial statements have been prepared in accordance with Guidelines on Investment-Linked Insurance/Takaful Business (BNM/RH/GL 010-15), modified by the following for the purposes of unit pricing:

i. investments at market value are adjusted to include future cost of acquisitions.

This is to ensure equitable unit pricing for incoming, outgoing and remaining unit-holders;

ii. provision for deferred tax on unrealised gains or losses using actuarially calculated rates as shown respectively in the table below except for those structured product funds which have been using the statutory rate of 8%.

The Board of Directors are of the opinion that since these gains or losses will only be realised in the future, the respective rates below have been used to ensure equitable unit pricing for incoming, outgoing and remaining unit-holders instead of the statutory rate of 8%.

The above deferred tax rates are only applicable beginning 1 June 2014. Prior to June 2014, the deferred tax rates were 4%.

Fund Name Deferred Tax Rate

PRUlink Equity Fund 6.0%

PRUlink Dana Unggul 7.0%

PRUlink Bond Fund 6.0%

PRUlink Dana Aman 6.0%

PRUlink Money Market Fund 8.0%

PRUlink Asia Property Securities Fund 8.0%

PRUlink Asia Local Bond Fund 6.0%

PRUlink Global Market Navigator Fund 8.0%

PRUlink Dragon Peacock Fund 3.5%

PRUlink Asia Managed Fund 8.0%

PRUlink Asia Equity Fund 5.0%

155PRUlink funds

b. Investments

Quoted investments are valued at the closing market prices at the end of the financial year.

Unquoted loan stocks/bonds are valued at the average of prevailing prices quoted by three financial institutions.

Net unrealised gains or losses in value of investments are credited or charged to the Statement of Income and Expenditure.

c. Dividend Income

Dividend income is recognised when the right to receive payment is established.

d. Interest Income

Interest income is recognised on an accrual basis.

e. Gains/Losses on Disposal of Investments

Gains or losses arising from the disposal of investments are credited or charged to the Statement of Income and Expenditure. f. Investment Management Fees Investment management fees are calculated in accordance with the provisions of the policy document.

g. Fee Rebate

This relates to a rebate of fees from the Fund Manager in respect of investments held in the:

i. PRUlink Equity Fund and PRUlink Bond Fund for the PRUlink Managed Fund, PRUlink Managed Fund II, PRUlink Golden Equity Fund, PRUlink Golden Bond Fund, PRUlink Education Equity Fund and PRUlink Education Bond Fund;

ii. PRUlink Dana Unggul and PRUlink Dana Aman for the PRUlink Dana Urus and PRUlink Dana Urus II; and

iii. PRUlink Golden Equity Fund and PRUlink Golden Bond Fund for the PRUlink Golden Managed Fund.

h. Cash and Deposits

Cash and deposits consist of cash on hand and balances with banks, including fixed and call deposits.

156PRUlink funds

2. Other Outgo comprises bank charges and custodian charges.

3. Rebates and Soft Commissions

As regulated by the Securities Commission’s Guidelines, the fund management company is strictly prohibited from receiving any rebates arising from

transactions or orders on behalf of the clients. Any such rebates received must be directed to the accounts of the relevant clients. The fund management

company is however allowed to accept soft commission arising from transactions or orders on behalf of the clients, provided that upon obtaining prior

consent from the client, the goods and services received are in the form of research and advisory services that will assist in decision-making process relating

to the client’s investments and ultimately demonstrate benefits to the clients.

4. At 31 December 2014, the Funds had no contingent liabilities or commitments.

5. All amounts are stated in Ringgit Malaysia.

157PRUlink funds

158PRUlink funds

PRUlink fundsLaporan Dan Penyata Pengurus Bagi

Tahun Berakhir 31 Disember 2014

159PRUlink funds

• Equity Fund

• Bond Fund

• Managed Fund

• Managed Fund II

• Golden Equity Fund

• Golden Bond Fund

• Golden Managed Fund

• Education Equity Fund

• Education Bond Fund

• Dana Unggul

• Dana Aman

• Dana Urus

• Dana Urus II

• Asia Managed Fund

• Asia Property Securities Fund

• Asia Local Bond Fund

• Global Market Navigator Fund

• Dragon Peacock Fund

• Asia Equity Fund

• MyOptimizer Fund

• Commodity Allocator Fund

• Commodity Allocator II Fund

• Dyna Growth I Fund

• Dyna Growth II Fund

• Dyna Growth III Fund

• Dyna Growth IV Fund

• Money Market Fund

• Golden Equity Fund II

• Golden Bond Fund II

Pemegang Polisi yang Dihargai,

Tahun lepas genaplah 90 tahun Prudential Assurance Malaysia Berhad (PAMB) beroperasi

di Malaysia. Ia merupakan tahun yang amat bermakna apabila kami mengumumkan

komitmen kami untuk memperuntukkan sejumlah RM50 juta bagi pembangunan program

Tanggungjawab Sosial Korporat (CSR) yang bertujuan untuk membina masyarakat Malaysia

yang celik kewangan dan berdaya tahan.

Perniagaan kami membantu insan mencapai harapan dan impian mereka melalui nasihat

yang bijak dan perancangan kewangan yang betul, dan kami percaya celik kewangan

asas dan perlindungan kewangan adalah kunci menuju masa depan yang lebih cerah.

Itulah sebabnya kami telah menumpukan usaha kami kepada bidang ini supaya kami boleh

menggunakan kemahiran dan pengetahuan kami untuk memberi sumbangan yang positif

dan mencapai kesan yang bermakna kepada masyarakat.

Kami juga berpegang teguh kepada hasrat kami untuk menyediakan penyelesaian kewangan

yang inovatif dengan cara memperkasakan pelan perlindungan wanita yang paling laris, iaitu

PRUlady serta melancarkan pelan kanser yang pertama seumpamanya dalam pasaran, iaitu

PRUcancer plan.

Dalam usaha kami untuk meningkatkan pengalaman pelanggan, kami telah memperkenalkan

PRUaccess, iaitu aplikasi berasaskan telefon pintar. Ia menyediakan penyelesaian sehenti

kepada pelanggan kami untuk mengakses senarai lengkap hospital panel PAMB dengan

butir-butir navigasi ke hospital pilihan mereka dan banyak lagi.

Tahun ini, kami bermatlamat untuk terus mendukung misi kami bagi menyediakan kebebasan

kewangan dan ketenangan fikiran kepada semua rakyat Malaysia. Kami telah melancarkan

PRUvalue med pada awal tahun ini kerana menyedari bahawa kos penjagaan kesihatan kini

semakin mahal dan keperluan rawatan perubatan menjadi semakin penting apabila kita

meningkat tua. PRUvalue med menawarkan lebih nilai untuk wang anda dengan memberikan

lebih penjimatan, perlindungan dan manfaat. Oleh sebab kos penjagaan kesihatan sentiasa

meningkat, adalah penting untuk memastikan anda mempunyai insurans perubatan yang

cukup. Kami menggalakkan anda supaya mengkaji semula polisi anda dengan teliti bersama

Perancang Kewangan Prudential, ejen atau Perunding Perkhidmatan Kewangan anda demi

memastikan keperluan perubatan anda masa kini dan masa hadapan dipenuhi.

Selaku penanggung insurans pilihan anda, kami tetap komited untuk menyampaikan

nilai kepada polisi anda. Sehubungan itu, saya dengan sukacitanya melaporkan bahawa

walaupun berhadapan dengan persekitaran ekonomi yang mencabar, Prudential telah

berjaya meraih pulangan yang positif bagi kebanyakan dana PRUlink kami (dana insurans

berkaitan pelaburan).

Dua dana yang mencatatkan prestasi yang agak baik tahun lepas ialah PRUMoney Market dan PRUGolden Bond Fund II yang masing-masing mengatasi pulangan penanda aras

sebanyak lebih daripada 1.50% dan 1.1%. Satu lagi dana yang meraih prestasi yang

sungguh cemerlang ialah PRUlink Global Market Navigator yang mengatasi pulangan

penanda aras sebanyak 3.51%. Sila lihat halaman 8-10 untuk-untuk butir-butir lengkap

mengenai prestasi dana.

Penukaran DanaSeperti yang anda tahu, polisi insurans berkaitan pelaburan anda bertujuan untuk memenuhi

matlamat kewangan jangka panjang anda serta melindungi masa depan kewangan keluarga

anda. Kami memahami bahawa situasi anda dalam kehidupan dan keperluan anda mungkin

berubah dari semasa ke semasa. Atas sebab inilah pelan insurans berkaitan pelaburan kami

telah direka untuk memberikan anda pilihan mengarahkan premium atau nilai dana anda ke

pilihan dana PRUlink yang berbeza pada bila-bila masa dalam tempoh polisi anda melalui

kemudahan penukaran dana1.

1Kemudahan penukaran dana tiada untuk PRUlink MyOptimizer Fund. 160PRUlink funds

Penukaran dana membolehkan anda memindahkan unit anda yang sedia ada daripada dana yang sedia ada tanpa menjejaskan peruntukan premium masa depan anda. Dengan

kemudahan ini, anda boleh bertindak balas kepada arah aliran pasaran atau perubahan pada matlamat pelaburan anda dengan berpindah ke dana yang sepadan dengan

ketahanan risiko anda. Empat penukaran pertama dalam tahun yang sama adalah percuma. Sila ingat bahawa polisi insurans berkaitan pelaburan anda adalah pelaburan jangka

panjang dan tidak harus dianggap sebagai instrumen untuk spekulasi jangka pendek.

Alam Sekitar yang Hijau dan Lestari

Dalam usaha kami ke arah bumi hijau dan mewujudkan alam sekitar yang lebih lestari, kami menggalakkan anda supaya mendaftar untuk e-Laporan yang membolehkan

anda menerima Laporan Dana PRUlink anda pada masa akan datang melalui emel. Saya menggesa anda supaya membuat penukaran ini jika anda belum berbuat

demikian. Untuk mengetahui lebih lanjut, sila lawati www.prudential.com.my/e-report.

Sementara itu, jika anda mempunyai sebarang soalan berkenaan dengan polisi atau pelaburan anda atau jika anda ingin menggunakan kemudahan penukaran dana kami, sila

hubungi Perancang Kewangan Prudential, ejen atau Perunding Perkhidmatan Kewangan anda. Anda juga boleh menghubungi Wakil Khidmat Pelanggan kami di 03-2116 0228,

menghantar pertanyaan anda kepada [email protected] atau mengunjungi cawangan yang terdekat. Kami sedia membantu anda.

Semoga tahun ini membawa kemakmuran, kesihatan yang baik dan kebahagiaan yang berpanjangan buat anda.

Yang Benar,

Philip SeahKetua Pegawai EksekutifPrudential Assurance Malaysia Berhad

161PRUlink funds

PRUlink Equity Fund bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan melabur dalam saham berkualiti tinggi yang tersenarai di Bursa Malaysia.

PRUlink Bond Fund bertujuan untuk menyediakan pengumpulan modal dalam jangka sederhana hingga panjang dengan melabur dalam sekuriti faedah tetap terpilih, bon korporat dan deposit tetap.

PRUlink Managed Fund / PRUlink Managed Fund II adalah dana terurus yang bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan melabur dalam saham dan sekuriti faedah tetap melalui PRUlink Equity Fund dan PRUlink Bond Fund dan dalam mana-mana dana PRUlink lain yang mungkin ditawarkan pada masa depan.

PRUlink Golden Equity Fund bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam saham berkualiti tinggi yang tersenarai di Bursa Malaysia dan mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Golden Bond Fund bertujuan untuk menyediakan pengumpulan modal dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam sekuriti faedah tetap terpilih, bon korporat dan deposit tetap, serta mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Golden Equity Fund II bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam saham berkualiti tinggi yang tersenarai di Bursa Malaysia dan mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Golden Bond Fund II bertujuan untuk menyediakan pengumpulan modal dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam sekuriti faedah tetap terpilih, bon korporat dan deposit

tetap, serta mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Education Equity Fund bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam saham berkualiti tinggi yang tersenarai di Bursa Malaysia dan mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Education Bond Fund bertujuan untuk menyediakan pengumpulan modal dalam jangka sederhana hingga panjang dengan mengambil kira keperluan untuk membuat pembayaran terjamin. Ini dicapai dengan melabur dalam sekuriti faedah tetap terpilih, bon korporat dan deposit tetap, serta mana-mana instrumen kewangan lain yang akan digunakan untuk melindung nilai portfolio.

PRUlink Dana Unggul bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan melabur dalam saham berkualiti tinggi diluluskan Syariah yang tersenarai di Bursa Malaysia.

PRUlink Dana Aman bertujuan untuk menyediakan pengumpulan modal dalam jangka sederhana hingga panjang dengan melabur dalam sekuriti hutang Islam terpilih.

PRUlink Dana Urus / PRUlink Dana Urus II adalah dana terurus yang bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang dengan melabur dalam saham diluluskan Syariah dan sekuriti hutang Islam melalui PRUlink Dana Unggul dan PRUlink Dana Aman dan dalam mana-mana dana PRUlink lain seumpamanya yang mungkin ditawarkan pada masa depan.

PRUlink Asia Managed Fund adalah dana yang diuruskan secara aktif yang bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang. Ini dicapai dengan melabur secara langsung dalam saham, sekuriti faedah tetap dan instrumen pasaran wang di rantau Asia Pasifik kecuali Jepun melalui mana-mana dana PRUlink Global yang mungkin

162PRUlink funds

ditawarkan pada masa depan, atau secara tidak langsung melalui subdana yang diuruskan oleh Eastspring Investments (Singapore) Limited atau mana-mana pengurus dana lain yang akan ditentukan dari semasa ke semasa.

PRUlink Asia Property Securities Fund adalah dana yang diuruskan secara aktif yang bertujuan untuk memaksimumkan pendapatan dan jumlah pulangan jangka panjang. Ini dicapai dengan melabur dalam Dana Pelaburan Harta Tanah (REIT) yang tersenarai dan sekuriti berkaitan harta milik syarikat-syarikat yang diperbadankan, disenaraikan atau yang kawasan aktiviti utamanya ialah di rantau Asia Pasifik termasuk Jepun, Australia dan New Zealand. Dana ini juga mungkin melabur dalam resit depositori, sekuriti hutang yang boleh ditukar kepada saham biasa, saham keutamaan dan waran serta melalui mana-mana dana PRUlink Global lain yang mungkin ditawarkan pada masa depan, atau secara tidak langsung melalui subdana yang diuruskan oleh Eastspring Investments (Singapore) Limited atau mana-mana pengurus dana lain yang akan ditentukan dari semasa ke semasa.

PRUlink Asia Local Bond Fund bertujuan untuk memaksimumkan jumlah pulangan. Ini dicapai dengan melabur dalam portfolio terpelbagai yang terdiri daripada terutamanya pendapatan tetap atau sekuriti hutang yang diterbitkan oleh entiti Asia yang ditarafkan dan juga tidak ditarafkan secara langsung dan/atau tidak langsung melalui subdana yang diuruskan oleh Eastspring Investments (Singapore) Limited atau mana-mana pengurus dana lain yang akan ditentukan dari semasa ke semasa.

PRUlink Global Market Navigator Fund adalah dana yang diuruskan secara aktif untuk mencapai pulangan mutlak yang positif dalam jangka sederhana melalui pelaksanaan strategi peruntukan aset yang diuruskan secara aktif dalam pelbagai aset global termasuk tunai, ekuiti, bon dan mata wang. Pendedahan kepada setiap kelas aset akan dibuat terutamanya melalui dana dagangan bursa, niaga hadapan indeks, ekuiti dan bon langsung, swap, opsyen dan kontrak hadapan pertukaran asing, setiap satunya boleh didagangkan melalui bursa yang diiktiraf atau melalui pasaran atas kaunter. Penggunaan derivatif ialah untuk pengurusan portfolio yang cekap bagi mendapatkan akses kepada pasaran dengan cekap dengan cara yang kos efektif.

PRUlink Dragon Peacock Fund adalah dana yang bertujuan untuk memaksimumkan jumlah pulangan jangka panjang dengan melabur terutamanya dalam ekuiti dan instrumen berkaitan ekuiti milik syarikat-syarikat yang diperbadankan atau disenaraikan di, atau beroperasi terutamanya dari, atau menjalankan perniagaan yang penting di, atau memperoleh pendapatan yang besar dari, atau yang anak syarikat, syarikat berkaitan atau syarikat bersekutunya memperoleh pendapatan yang besar dari Republik Rakyat China (RRC) dan India.

PRUlink Education Bond Fund adalah dana yang bertujuan untuk memaksimumkan jumlah pulangan jangka panjang dengan melabur dalam ekuiti dan sekuriti berkaitan ekuiti milik syarikat-syarikat yang diperbadankan, atau yang kawasan aktiviti utamanya di Asia Pasifik kecuali Jepun. Rantau Asia Pasifik kecuali Jepun termasuklah tetapi tidak terhad kepada negara-negara berikut: Korea, Taiwan, Hong Kong, Filipina, Thailand, Malaysia, Singapura, Indonesia, Republik Rakyat China (RRC), India, Pakistan, Australia dan New Zealand. Dana ini juga mungkin melabur dalam resit depositori [termasuk Resit Depositori Amerika (ADR) dan Resit Depositori Global (GDR)], sekuriti hutang yang boleh ditukar kepada saham biasa, saham keutamaan dan waran.

PRUlink MyOptimizer fund adalah dana tertutup bertempoh 5 tahun dengan modal dijamin apabila matang oleh Prudential Assurance Malaysia Berhad. Dana ini melabur dalam deposit berstruktur yang memberikan pelabur pendedahan kepada (1) sekuriti pendapatan tetap Malaysia dan (2) pelbagai kelas aset seperti ekuti global, komoditi, bon dan instrumen seperti tunai. PRUlink MyOptimizer fund bertujuan untuk mencapai pulangan terlaras risiko yang tertinggi untuk menyediakan potensi peningkatan, jika ada, dalam bentuk bonus prestasi tahunan kepada pelabur sambil melindungi 100% modal apabila matang.

PRUlink Commodity Allocator Fund adalah dana tertutup bertempoh 3 tahun 9 bulan dengan modal dijamin apabila matang oleh Prudential Assurance Malaysia Berhad. Dana ini melabur dalam deposit berstruktur yang berdasarkan prestasi Indeks Allocator 4TM Indeks Deutsche Bank Liquid Commodity (“DBLCI”). Deposit berstuktur ini memberikan pelabur pendedahan kepada (1) sekuriti pendapatan tetap Malaysia dan (2) pelbagai jenis komoditi di bawah strategi panjang sahaja dan/atau strategi neutral pasaran. PRUlink Commodity Allocator Fund membayar bonus khas yang dijamin pada akhir

tempoh 18 bulan. Ia juga bertujuan untuk mencapai pulangan yang tinggi untuk menyediakan potensi peningkatan, jika ada, dalam bentuk bonus matang sambil melindungi 100% modal apabila matang.

PRUlink Commodity Allocator II Fund adalah dana tertutup bertempoh 3 tahun 9 bulan dengan modal dijamin apabila matang oleh Prudential Assurance Malaysia Berhad. Dana ini melabur dalam deposit berstruktur yang berdasarkan prestasi Indeks Allocator 4TM Indeks Deutsche Bank Liquid Commodity (“DBLCI”). Deposit berstuktur ini memberikan pelabur pendedahan kepada (1) sekuriti pendapatan tetap Malaysia dan (2) pelbagai jenis komoditi di bawah strategi panjang sahaja dan/atau strategi neutral pasaran. PRUlink commodity allocator II fund membayar bonus khas yang dijamin pada akhir tempoh 18 bulan. Ia juga bertujuan untuk mencapai pulangan yang tinggi untuk menyediakan potensi peningkatan, jika ada, dalam bentuk bonus matang sambil melindungi 100% modal apabila matang.

PRUlink Dyna Growth I/II/III/IV Fund melabur dalam deposit berstruktur. Deposit berstruktur ini memberikan pelabur pendedahan kepada (1) sekuriti pendapatan tetap Malaysia dan (2) pelbagai kelas aset seperti ekuiti global, harta tanah, komoditi, pertukaran asing dan pelaburan alternatif. PRUlink Dyna Growth funds bertujuan untuk memaksimumkan pulangan terlaras risiko dan meningkatkan nilai dana kepada nilai tertinggi seumur hidup apabila matang.

PRUlink Money Market Fund bertujuan untuk mengekalkan nilai modal di samping menyediakan pulangan yang setanding dengan deposit bank jangka pendek. Selain daripada pendedahan risiko yang minimum, dana ini juga mengekalkan tahap kecairan yang tinggi dengan melabur terutamanya dalam instrumen pasaran wang jangka pendek yang berkualiti tinggi dan berisiko rendah dan sekuriti hutang. Walaupun dana ini bertujuan untuk mengekalkan nilai pokok, namun keupayaan dana ini untuk memenuhi objektifnya adalah tidak dijamin.

PRUlink Golden Managed Fund adalah dana terurus yang bertujuan untuk memaksimumkan pulangan dalam jangka sederhana hingga panjang. Ini dicapai dengan melabur dalam saham dan sekuriti faedah tetap melalui PRUlink Golden Equity Fund dan PRUlink Golden Bond Fund dan dalam mana-mana dana PRUlink lain yang mungkin ditawarkan pada masa depan.

163PRUlink funds

Pasaran global memulakan suku pertama 2014 dalam suasana yang lemah dan FBM KLCI tidak terlepas daripada jualan pesat serantau disebabkan kebimbangan tentang mata wang pasaran sedang muncul yang lemah dan kemungkinan kesan penularannya. Nilai Ringgit Malaysia jatuh hampir 2% berbanding bulan sebelumnya berbanding Dolar AS pada akhir Januari 2014. Walau bagaimanapun, pasaran ekuiti Malaysia melantun tetapi keuntungan terhad kerana musim laporan pada bulan Februari tidak begitu memberangsangkan. Menjelang akhir suku pertama 2014, berita kehilangan pesawat MH370 mengakibatkan sedikit kelemahan tetapi FBM KLCI berjaya menutup sedikit kerugian.

Pasaran ekuiti Amerika Syarikat (AS) mengalami pembetulan pada awal suku ke-2 2014 berikutan kebimbangan bahawa penilaian saham teknologi terlalu tinggi selepas bermulanya musim laporan perolehan. Walau bagaimanapun, ia melantun tidak lama kemudian untuk mengakhiri sukuan tersebut pada paras yang tinggi dengan mencecah paras tertinggi baru pada sukuan tersebut. Pelabur di Malaysia terus memfokus kepada saham permodalan kecil, namun terdapat sedikit pembetulan pada pertengahan suku ke-2 2014 apabila perolehan korporat yang diumumkan pada sukuan tersebut tidak memberangsangkan dengan banyak mencatatkan keputusan di bawah jangkaan dalam sektor Automotif dan Minyak dan Gas. Namun begitu, FBM KLCI terus mencatatkan aliran menaik seiring dengan pasaran global, mencecah paras tertinggi baru dalam tempoh itu.

Suku ke-3 2014 bermula dengan pembetulan dalam pasaran AS seiring dengan pasaran global berikutan keputusan korporat yang lebih lemah yang dilaporkan. Pasaran global terus gelisah pada bulan itu disebabkan risiko geopolitik yang memuncak dengan konflik di rantau Gaza dan ketegangan yang meningkat dengan Rusia selepas tragedi MH17. Di Malaysia, korporat yang mengumumkan keputusan kewangan mereka dalam tempoh itu pada umumnya sama ada menepati atau lebih rendah daripada jangkaan konsensus, dengan keputusan yang mengecewakan daripada sektor utama seperti minyak dan gas, perbankan dan kewangan serta perladangan. Pasaran ekuiti berakhir lebih rendah menjelang akhir suku ke-3 2014 berikutan kebimbangan tentang pemasaan berhubung kenaikan kadar Rizab Persekutuan AS serta kebimbangan tentang pertumbuhan global mula menghakis sentimen. Suku ke-4 2014 bermula lemah di seluruh dunia apabila pelabur bimbang tentang konflik yang berterusan di Iraq dan Ukraine serta ketakutan terhadap penularan wabak Ebola. Walau bagaimanapun, Wall Street melantun dengan ketara berikutan perolehan korporat AS yang lebih baik dan data ekonomi yang bertambah baik dari AS dan juga negara-negara Eropah. Pasaran ekuiti global terus meruap hampir sepanjang suku ke-4 2014 apabila pelabur menyaksikan penurunan ketara dalam harga minyak mentah berikutan keputusan OPEC untuk mengekalkan paras pengeluarannya serta keteguhan Dolar AS berbanding kebanyakan mata wang lain. Suku ke-4 2014 merupakan sukuan yang lemah bagi Malaysia apabila harga minyak yang begitu rendah dan mata wang yang lebih lemah menyaksikan KLCI kekal pada paras di bawah paras psikologi 1800 mata.

Tinjauan pasaran ekuiti tempatan(1 Januari 2014 – 31 Disember 2014)

Indonesia, Filipina dan India merupakan tiga pasaran terataspada tahun 2014.

Pasaran ekuiti global terus meruap hampirsepanjang sukuke-4 2014

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Perolehan korporat yang dilaporkan pada suku ke-4 2014 terus mengecewakan. Sektor minyak dan gas khususnya mengalami banyak tekanan dengan harga minyak mentah yang lemah serta implikasi yang negatif ke atas perbelanjaan modal masa depan untuk industri ini. Malaysia mengakhiri suku ke-4 2014 dalam suasana yang sedih dengan satu lagi tragedi pesawat terhempas, iaitu pesawat Air Asia QZ8501 dari Surabaya, Indonesia ke Singapura.

FBM KLCI menutup tahun dalam tinjauan pada paras 1,761.3 mata, turun 5.66%. Indeks Emas FBM yang lebih luas menutup tempoh dalam tinjauan lebih rendah sebanyak 6.13%. Indeks MSCI Asia Pasifik Kecuali Jepun menyusut sebanyak 0.2% dalam mata wang sebutan USD1.

Tinjauan Masa Depan Pasaran Ekuiti

Pasaran global mungkin terus meruap pada tahun 2015 dengan kurang keputusan dasar kewangan yang dapat diramalkan, harga komoditi lebih lemah yang berterusan serta meningkatnya risiko geopolitik. Walau bagaimanapun, data ekonomi AS akhir-akhir ini adalah lebih kukuh daripada jangkaan dan ekonomi utama lain nampaknya menunjukkan tanda-tanda tentatif pemulihan.

Di dalam negara, tahun 2015 kemungkinan akan menyaksikan kemerosotan permintaan pengguna yang berterusan kerana pengguna lebih berhati-hati dalam perbelanjaan berikutan mata wang yang lebih lemah dan GST yang bakal dilaksanakan tidak lama lagi. Akan tetapi, walaupun harga minyak mentah yang lebih rendah mungkin tidak memberi manfaat kepada hasil kerajaan Malaysia, namun ia akan memberi sedikit kelegaan kepada kos sara hidup rakyat biasa kerana harga petrol dan disel sekarang ditambat pada harga pasaran.

Di sebalik pandangan keseluruhan kami yang berhati-hati terhadap pasaran Malaysia pada tahun akan datang,

kami percaya langkah sukar yang diambil oleh kerajaan ke arah penyatuan fiskal adalah satu langkah yang perlu. Namun begitu, kenaikan kadar yang bakal dilaksanakan di AS pada pertengahan 2015 akan menambahkan tekanan kepada ringgit yang sudah sedia lemah, dan ekuiti dengan pemegangan asing yang tinggi mungkin akan terus menyaksikan tekanan jualan. Sekiranya tiada berlaku sebarang kejutan yang tidak diduga, kami menjangkakan pertumbuhan perolehan korporat akan memacu prestasi pasaran yang lebih baik pada separuh kedua. Kami tetap sedar tentang risiko kelemahan ringgit, aliran keluar asing yang berterusan dan berapa lama harga minyak mentah akan terus di bawah USD$60/tong.

Tinjauan Pasaran Bon Tahunan (1 Januari 2014 – 31 Disember 2014)

Pada separuh pertama 2014, pertumbuhan ekonomi Malaysia mencatatkan prestasi yang kukuh berikutan lonjakan eksport, iaitu meningkat 6.2% dan 6.5% masing-masing pada suku pertama dan kedua berbanding tahun sebelumnya. Inflasi juga secara relatifnya naik dalam lingkungan 3.2% - 3.5% pada 6 bulan pertama 2014 berikutan gangguan penawaran dan kos domestik yang lebih tinggi. Selain itu, hutang isi rumah Malaysia telah mencecah paras agak tinggi kira-kira 87% daripada Keluaran Dalam Negara Kasar (KDNK) pada akhir tahun 2013 – kebimbangan ini disebut pada mesyuarat MPC BNM pada 8 Julai di mana ia menyatakan kebimbangan tentang peningkatan ketakseimbangan kewangan yang berterusan.

Pada mesyuarat MPC pada 10 Julai, BNM telah menaikkan Kadar Dasar Semalaman (OPR) sebanyak 25 mata asas kepada 3.25% yang merupakan perubahan OPR yang pertama sejak Julai 2011. MPC memutuskan untuk menyelaraskan tahap pelonggaran kewangan berikutan prospek pertumbuhan yang kukuh dan inflasi terus melebihi purata jangka panjangnya. Pelarasan ini juga

bertujuan untuk menangani ekonomi yang lebih luas dan ketakseimbangan kewangan yang boleh melemahkan prospek pertumbuhan ekonomi Malaysia.

Pada mesyuarat MPC pada 18 September, BNM mengekalkan OPR pada paras 3.25%, memilih untuk memantau imbangan risiko yang menyelubungi pertumbuhan dan inflasi serta risiko penyahstabilan ketakseimbangan kewangan sebelum membuat sebarang perubahan lanjut pada OPR. Pada mesyuarat MPC pada 6 November, BNM sekali lagi mengekalkan OPR pada paras 3.25% berikutan tinjauan masa depan yang lebih berhati-hati bagi pertumbuhan ekonomi dan keadaan inflasi yang semakin menurun. Jangkaan kenaikan OPR kini ditangguhkan ke separuh ke-2 2015. Jika pertumbuhan ekonomi ternyata lebih lemah daripada jangkaan, pemasaan kenaikan kadar cenderung untuk tertangguh lagi.

Inflasi Indeks Harga Pengguna turun daripada 3.2% pada Disember 2013 kepada 3.0% pada November 2014. Penurunan ini dipacu terutamanya oleh penurunan dalam inflasi makanan dan minuman bukan alkohol yang turun daripada 4.5% pada Disember 2013 kepada 2.9% pada November 2014. Inflasi diunjurkan menokok lebih tinggi pada tahun 2015 disebabkan faktor kos domestik, terutamanya pengenalan Cukai Barangan dan Perkhidmatan. Ketiadaan tekanan harga luaran dan keadaan permintaan yang lebih sederhana dijangka mengurangkan kesan faktor kos ini ke atas inflasi.

Harga minyak mentah terus turun pada bulan Disember selepas menjunam teruk pada bulan November berikutan keputusan OPEC untuk tidak mengurangkan pengeluaran bagi menyokong harga. Kejatuhan harga minyak telah menimbulkan kebimbangan bahawa sasaran kerajaan Malaysia untuk mengurangkan defisit fiskal kepada 3%

1Sumber: Bloomberg: Indeks sedunia

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daripada KDNK pada tahun 2015 daripada 3.5% pada tahun 2014 akan terbukti lebih sukar untuk dicapai kerana ia boleh memberi kesan yang negatif kepada ekonomi dan kedudukan fiskal Malaysia jika Petronas mengurangkan bayaran dividennya kepada kerajaan.

Penurunan harga minyak juga menjejaskan lebihan akaun semasa Malaysia yang berada pada paras RM7.6 bilion pada September 2014, paras terendah sejak Jun 2013. Ringgit jatuh ke paras terendahnya dalam tempoh lebih daripada 5 tahun pada awal Januari 2015. Kejatuhan nilai ringgit boleh mengurangkan selera pelabur asing terhadap bon kerajaan Malaysia bagi tempoh akan datang. Pemegangan asing dalam sekuriti hutang Malaysia merosot 5.8% (~RM14.5 bilion) pada Nov 2014 kepada RM 236.5 bilion, penurunan terbesar sejak September 2011.

Bagi tempoh dalam tinjauan, kadar hasil bon berdaulat 3, 5 dan 10 tahun berubah sebanyak 28 mata asas, 15 mata asas dan -3 mata asas untuk ditutup masing-masing pada 3.63%, 3.83% dan 4.08%. Sekuriti Kerajaan Malaysia (MGS) bertempoh pendek meningkat pada tahun itu berikutan kenaikan OPR oleh BNM pada bulan Julai serta kejatuhan harga minyak pada penghujung tahun 2014 yang mencetuskan kebimbangan bahawa kerajaan akan gagal mencapai sasaran defisitnya.

Kadar hasil bon korporat pada umumnya bergerak sejajar dengan kadar hasil bon berdaulat walaupun agak ketinggalan. Aktiviti dalam pasaran bon korporat disokong oleh kecairan yang melimpah dan persekitaran kredit yang stabil.

Dari segi penawaran, jumlah terbitan RM belum tebus pada akhir Disember 2014 ialah kira-kira RM1,111 bilion yang daripada ini kira-kira 48.0% adalah konvensional dan 51.9% adalah Islam. Perkadaran sukuk korporat dalam seluruh sukuk adalah lebih tinggi sebanyak kira-kira 36% berbanding dengan perkadaran bon korporat dalam seluruh

bon konvensional sebanyak kira-kira 23%. Terbitan utama yang besar adalah daripada sektor perbankan dan kuasa serta terbitan dijamin kerajaan. Terbitan utama termasuklah RM7.6 bilion daripada DanaInfra Nasional Berhad, RM5.1 bilion daripada Malayan Banking dan RM4.5 bilion daripada Perbadanan Tabung Pendidikan Tinggi Nasional.

Tinjauan Masa Depan Pasaran Bon

Pada mesyuarat MPC pada 6 November, BNM telah mengekalkan OPR pada paras 3.25%. MPC menyatakan bahawa pendirian dasar kewangan semasa adalah akomodatif dan sesuai memandangkan perkembangan dalam keadaan monetari dan kewangan. Bank Negara nampaknya kurang agresif berbanding mesyuaratnya pada bulan September, dan jangkaan kenaikan OPR kini ditunda ke separuh ke-2 2015. Jika pertumbuhan ekonomi ternyata lebih lemah daripada jangkaan, pemasaan kenaikan kadar cenderung untuk tertangguh lagi.

Kejatuhan harga minyak telah menimbulkan kebimbangan bahawa sasaran kerajaan Malaysia untuk mengurangkan defisit fiskal kepada 3% daripada KDNK pada tahun 2015 daripada 3.5% pada tahun 2014 akan terbukti lebih sukar untuk dicapai kerana ia boleh memberi kesan yang negatif kepada ekonomi dan kedudukan fiskal Malaysia jika Petronas mengurangkan bayaran dividennya kepada kerajaan. Pada 20 Januari 2015, Perdana Menteri Dato Seri Najib Razak telah menyemak semula sasaran Bajet 2015 berikutan penurunan harga minyak mentah daripada yang diandaikan pada awalnya. Andaian bajet semakan itu lebih realistik pada USD55/tong bagi tahun 2015 (berbanding USD100/tong pada awalnya). Beliau juga mengumumkan ramalan inflasi sebanyak 2.5-3.5% bagi tahun 2015 (sebelumnya 4-5%).

Memandangkan kejatuhan harga minyak, aliran modal yang meruap dan tinjauan masa depan ekonomi global yang

semakin buruk, Perdana Menteri mengumumkan bahawa sasaran defisit fiskal Malaysia akan disemak semula kepada 3.2% daripada KDNK pada tahun 2015 (lebih rendah daripada 3.5% pada tahun 2014) tetapi masih sejajar dengan komitmen Kerajaan terhadap penyatuan fiskal; dan Perbelanjaan Operasi dijangka dikurangkan sebanyak RM5.5 bilion tetapi perbelanjaan pembangunan bagi tahun 2015 akan dikekalkan sepenuhnya. Sasaran defisit fiskal semakan itu dijangka akan meningkatkan penawaran bon kerajaan sebanyak ~RM2 bilion kepada ~RM98 bilion, yang merupakan peningkatan kecil. Mujurlah kerajaan terus komited terhadap penyatuan fiskal.

Ancaman penurunan taraf berdaulat oleh Fitch apabila ia mengkaji semula penarafan Malaysia pada separuh pertama 2015 merupakan risiko utama kepada pasaran bon. Hikmahnya ialah pandangan yang berbeza-beza tentang penarafan Malaysia - S&P pada tinjauan masa depan yang stabil dan Moody’s pada tinjauan masa depan yang positif. Menyedari akan kemungkinan penurunan penarafan ini, kerajaan sekali lagi menegaskan komitmennya untuk memastikan negara akan terus mencatatkan lebihan akaun semasa dengan strategi memandang ke dalam dalam soal pelaburan (menggalakkan GLC dan GLIC melabur di dalam negara), dan penggunaan swasta (keutamaan kepada kontraktor tempatan untuk menjalankan kerja-kerja pembinaan semula di kawasan yang terjejas oleh banjir, mempergiatkan promosi beli barangan buatan Malaysia serta meningkatkan barangan dan perkhidmatan tempatan dalam perolehan Kerajaan).

Dengan GLC dan GLIC digalakkan melabur di dalam negara, dinamik permintaan boleh mengurangkan kesan kemeruapan aliran keluar asing berdasarkan kebimbangan tentang penurunan taraf berdaulat. Pemegangan saham asing sekuriti hutang Malaysia merosot daripada paras tertinggi RM257.22 bilion pada akhir Julai 2014 kepada RM236.5 bilion pada akhir

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November disebabkan terutamanya oleh warga asing mengurangkan nota jangka pendek.

Sementara Rizab Persekutuan AS merancang untuk melaksanakan pernomalan kadar faedah yang boleh menimbulkan risiko penularan bagi pasaran sedang muncul termasuk Malaysia, ECB baru-baru ini telah mengambil keputusan untuk memulakan program Pelonggaran Kuantitatif (QE) berdaulat, manakala People’s Bank of China dan Bank of Japan pula meneroka cara untuk menurunkan kos kredit bagi merangsangkan pelaburan dan perbelanjaan dalam ekonomi mereka yang mengecewakan. Oleh itu, kecairan global kemungkinannya terus melimpah.

Kami menjangkakan pasaran pendapatan tetap terus meruap disebabkan risiko geopolitik, kemeruapan mata wang dan pernomalan dasar kewangan. Penarafan berdaulat, harga komoditi, terutamanya CPO dan LNG, prestasi RM dan pelaksanaan GST pada April 2015 merupakan pengaruh utama ke atas pasaran bon RM pada tahun 2015.

Asia Pasifik kecuali Jepun

Pasaran Asia kecuali Jepun memulakan tahun itu dalam suasana kerugian disebabkan kebimbangan tentang kemerosotan pasaran sedang muncul. Data yang bertambah baik dari India dan Indonesia kemudiannya melonjakkan saham di rantau tersebut. Setakat ini dalam tahun ini, Asia kecuali Jepun meraih prestasi yang lebih baik daripada Jepun dan Eropah sepertimana yang diukur oleh indeks MSCI Ac Asia kecuali Jepun dalam mata wang sebutan USD.

Indonesia, Filipina dan India merupakan tiga pasaran teratas pada tahun 2014. Keadaan makro yang semakin baik, keputusan pilihan raya yang positif dan optimisme terhadap pelan pembaharuan oleh pemimpin-pemimpin baru di India dan Indonesia melonjakkan pasaran ini. Kenaikan

harga bahan api Indonesia juga menimbulkan reaksi positif terhadap pasaran saham. Filipina mencatatkan peningkatan sepanjang tahun berikutan asas yang lebih kukuh yang menyebabkan Standard & Poor menaikkan penarafannya setakuk kepada BBB.

Korea, Malaysia dan Australia mencatatkan prestasi terburuk pada tahun 2014. Korea terjejas oleh penurunan nilai Yen kerana ia mengurangkan daya tarikan eksport Korea. Kedudukan Malaysia sebagai pengeksport minyak merupakan sebab di sebalik prestasi pasaran yang suram apabila harga minyak menjunam. Kejatuhan dolar Australia, penurunan harga komoditi dan kebimbangan tentang kelembapan di China menjejaskan pasaran Australia.

Pasaran Thai mendapat manfaat daripada keyakinan yang meningkat ekoran kestabilan politik selepas rampasan kuasa tentera tetapi menyusut akibat pengambilan untung menjelang akhir tahun. China sebaliknya pula meningkat pada sukuan terakhir tahun, dilonjakkan oleh jangkaan pelonggaran kewangan lagi selepas pengurangan kadar mengejut oleh People’s Bank of China pada bulan Noember, yang pertama sejak tahun 2012. Pasaran ekuiti Taiwan menyaksikan minat pada separuh kedua tahun disebabkan kitaran teknologi yang semakin pulih.

Tinjauan Masa Depan

Pada tahun 2015, kami menjangkakan pasaran terus mencatatkan prestasi yang meruap memandangkan berita makroekonomi global yang bercampur-campur. Perolehan korporat Asia adalah pelbagai dari segi geografi. Peningkatan perolehan sepanjang tahun 2015 dan selepasnya diperkukuhkan oleh persekitaran pertumbuhan global yang semakin baik. Secara keseluruhan, penilaian ekuiti Asia Pasifik terus di bawah purata jangka panjangnya yang, digabungkan dengan ketaksamaan penilaian yang besar dalam negara dan sektor, memberikan banyak

peluang pelaburan dalam saham tertentu. Lebih penting lagi, kami boleh mengenal pasti semakin banyak bilangan saham yang bukan sahaja tidak menjadi pilihan bahkan juga sangat murah (dan terus lebih murah). Kami pada umumnya mencari saham murah ini dalam saham berkitar.

Global

Tahun 2014 bermula dalam suasana yang suram. Pengurangan program pelonggaran kuantitatif oleh Rizab Persekutuan AS dan timbulnya semula kebimbangan tentang pertumbuhan di China menghakis keyakinan dalam pasaran sedang muncul. Jualan dalam aset pasaran sedang muncul mencetuskan penularan global. Kemudiannya, penegasan daripada bank-bank pusat mengenai penerusan dasar kewangan yang longgar dan tanda-tanda kestabilan dalam pasaran sedang muncul melonjakkan sentimen di seluruh dunia.

Namun begitu, tahun tersebut ditandai oleh beberapa tempoh kemeruapan. Peningkatan ketegangan geopolitik, iaitu campur tangan Rusia di Ukraine dan pergolakan yang semakin buruk di Timur Tengah berserta pertumbuhan dan keuntungan yang mengecewakan di Eropah, China dan Jepun mencetuskan jualan pesat sekejap-sekejap. Menjelang akhir tahun tersebut, ketegangan politik di Greece, krisis ekonomi di Rusia dan kejatuhan harga minyak menyebabkan pasaran global lebih rendah.

Jualan pesat sekejap-sekejap mendedahkan nilai dalam sebilangan saham; di seluruh rantau Asia, terdapat isyarat penilaian yang kuat. Saham yang berkaitan dengan kitaran global dijual pada mulanya disebabkan kebimbangan jangka pendek terhadap pertumbuhan global. Jurang penilaian antara saham bertahan dan saham kitar terus luas.

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Berlatarbelakangkan persekitaran ini, ekuiti global, sepertimana yang ditunjukkan oleh MSCI World, hanya naik sebanyak 5% dalam mata wang sebutan USD. Ekuiti AS merupakan ekuiti yang mencatatkan prestasi terbaik pada tahun 2014 diterajui oleh petanda pemulihan ekonomi yang baru bermula dan jangkaan bahawa kadar faedah akan terus rendah bagi tempoh yang lebih lama. Di Asia, pasaran yang meraih prestasi paling cemerlang, iaitu Indonesia, Filipina dan India menerajui rantau ini ke paras yang lebih tinggi. Keputusan pilihan raya yang positif di India dan Indonesia serta keadaan makro yang semakin baik memperkukuhkan ekuiti dalam pasaran ini. Agensi penarafan, Standard & Poor menaikkan penarafan berdaulat Filipina setakuk kepada BBB sebagai mengiktiraf fiskal dan metrik imbangan pembayaran negara itu yang kukuh.

Sementara itu, ekuiti Jepun menghadapi tahun yang mencabar, diburukkan oleh pertumbuhan ekonomi yang lesu. Langkah mengejut Bank of Japan pada bulan Oktober bagi mengembangkan program pelonggaran kuantitatifnya mendorong peningkatan dalam ekuiti domestik. Akibatnya, Jepun mencatatkan keuntungan dalam mata wang sebutan Yen pada tahun itu tetapi mencatatkan kerugian dalam mata wang sebutan USD. Ekuiti Eropah juga mencatatkan kerugian, dilanda masalah pengangguran yang tinggi dan masalah pertumbuhan di rantau itu. Spekulasi tentang sama ada Bank Pusat Eropah akan melaksanakan rangsangan tambahan merupakan satu lagi faktor yang memacu kemeruapan pasaran di Eropah pada separuh kedua tahun itu.

Salah satu kejutan terbesar pada tahun 2014 ialah penurunan kadar hasil bon global. Walaupun kadar faedah AS dijangka naik, Perbendaharaan 10 tahun meningkat. Aliran instrumen hutang kerajaan yang mengecut juga mungkin telah membantu menurunkan kadar hasil dalam suasana kecairan yang meningkat. Kadar tempatan Asia

mengalami penurunan (pada umumnya sejajar dengan kadar hasil bon AS). Dalam sesetengah pasaran Asia, faktor domestik membantu peningkatan. Pada keseluruhannya, pasaran bon USD Asia mencatatkan keuntungan yang tinggi, diperkukuhkan oleh pendapatan kupon, sementara penurunan di luar jangkaan dalam kadar faedah jangka panjang AS juga menolong meningkatkan prestasi. Kebanyakan mata wang Asia juga susut berbanding dolar AS pada tahun 2014. Sementara dolar AS mendapat manfaat daripada optimisme yang menyelubungi ekonomi AS, pelbagai sebab yang unik menyebabkan mata wang Asia menyusut sepanjang tahun itu.

Tinjauan Masa Depan

Dengan berakhirnya pelonggaran kuantitatif AS dan Rizab Persekutuan AS semakin hampir kepada kenaikan kadarnya yang pertama, tahun 2015 nampaknya bakal menjadi satu lagi tahun yang menarik. Walaupun langkah Fed memang telah dijangkakan, ia terbukti akan mencabar sekiranya Fed menaikkan kadar lebih cepat daripada jangkaan. Langkah sedemikian kemungkinan akan menimbulkan gangguan bagi bon, mata wang terpilih dan sektor yang mahal dalam pasaran ekuiti global yang telah mendapat manfaat daripada rejim kadar faedah sifar yang sedia ada.

Walau bagaimanapun, kejatuhan harga minyak dan pertumbuhan AS yang teguh kemungkinan akan menyokong keuntungan korporat dan meningkatkan daya tarikan ekuiti global pada tahun 2015. Bon pula mungkin mengalami kemeruapan yang memuncak apabila kebimbangan tentang kenaikan kadar AS turun naik. Namun begitu, corak dan kadar kenaikan kadar memang penting. Dalam kitaran yang “lembut” ini, pegangan bon akan menyediakan sumber pulangan yang baik, manakala peluang dalam bon Asia terpilih akan menyediakan peningkatan pulangan “alfa”.

Salah satu kejutanterbesar pada tahun2014 ialah penurunankadar hasil bon global.

Pada tahun 2015, kami menjangkakan pasaran terus mencatatkan prestasi yang meruap memandangkan beritamakroekonomi global yang bercampur-campur.

Ramalan inflasi sebanyak 2.5-3.5%bagi tahun 2015

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PRUlink Equity FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Equity Fund ialah RM4.0048 berbanding dengan RM4.1588 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -3.70%, mengatasi pulangan penanda aras sebanyak -6.17%.

Sejak dimulakan, Dana ini mencatatkan keuntungan 300.48% berbanding dengan prestasi penanda aras sebanyak 78.43%.

PRUlink Bond FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Bond Fund ialah RM2.8358 berbanding dengan RM2.7413 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 3.45%, mengatasi pulangan penanda aras sebanyak 3.22%.


PRUlink Managed FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Managed Fund ialah RM3.2134 berbanding dengan RM3.2714 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -1.78%, mengatasi pulangan penanda aras sebanyak -3.41%.


PRUlink Managed Fund IIPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Managed Fund II ialah RM2.0186 berbanding dengan RM2.0629 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -2.14%, mengatasi pulangan penanda aras sebanyak -4.33%.


PRUlink Money Market FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Money Market Fund ialah RM1.1276 berbanding dengan RM1.0766 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 4.73%, mengatasi pulangan penanda aras sebanyak 3.22%.

Sejak dimulakan, Dana ini telah mencatatkan keuntungan 12.76% berbanding dengan prestasi penanda aras sebanyak 10.39%.

PRUlink Golden Equity FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Golden Equity Fund ialah RM1.5705 berbanding dengan RM1.6309 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -3.70%, mengatasi pulangan penanda aras sebanyak -6.17%.


PRUlink Golden Bond FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Golden Bond Fund ialah RM1.2955 berbanding dengan RM1.2585 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 2.93%, lebih rendah daripada pulangan penanda aras sebanyak 3.22%.


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PRUlink Global Market Navigator Fund meraih

pulangan 6.74%, mengatasi pulangan penanda aras

sebanyak 3.22%.Sejak dimulakan, Dana ini mencatatkan keuntungan

50.41% berbanding dengan prestasi penanda aras

sebanyak 20.66%.

PRUlink MoneyMarket Fund meraihpulangan 4.73%,

mengatasi pulangan penanda aras

sebanyak 3.22%.

PRUlink Dana UnggulPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dana Unggul ialah RM3.4114 berbanding dengan RM3.4192 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -0.23%, mengatasi pulangan penanda aras sebanyak -4.17%.


PRUlink Dana AmanPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dana Aman ialah RM2.1359 berbanding dengan RM2.0547 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 3.95%, mengatasi pulangan penanda aras sebanyak 3.22%.


PRUlink Dana UrusPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dana Urus ialah RM2.9111 berbanding dengan RM2.8881 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 0.80%, mengatasi pulangan penanda aras sebanyak -1.96%.


PRUlink Dana Urus IIPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dana Urus II ialah RM2.1428 berbanding dengan RM2.1270 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 0.74%, mengatasi pulangan penanda aras sebanyak 2.70%.

Sejak dimulakan, Dana ini mencatatkan pulangan 114.28% berbanding dengan prestasi penanda aras sebanyak 85.34%.

PRUlink Asia Managed FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Asia Managed Fund ialah RM1.4840 berbanding dengan RM1.3205 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 12.39%, lebih rendah daripada pulangan penanda aras sebanyak 12.99%.


PRUlink Asia Property Securities FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Asia Property Securities Fund ialah RM1.2441 berbanding dengan RM1.0397 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 19.66%, mengatasi pulangan penanda aras sebanyak 19.25%.


PRUlink Asia Local Bond FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Asia Local Bond Fund ialah RM1.5571 berbanding dengan RM1.4015 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 11.10%, mengatasi pulangan penanda aras sebanyak 11.07%.


PRUlink Global Market Navigator FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Global Market Navigator Fund ialah RM1.5041 berbanding dengan RM1.4092 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 6.74%, mengatasi pulangan penanda aras sebanyak 3.22%.


PRUlink Dragon Peacock FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dragon Peacock Fund ialah RM1.1897 berbanding dengan RM0.9997 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 19.00%, lebih rendah daripada pulangan penanda aras sebanyak 23.91%.


PRUlink Education Equity FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Education Equity Fund ialah RM1.4717 berbanding dengan RM1.5283 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan -3.70%, mengatasi pulangan penanda aras sebanyak -6.17%.


PRUlink Education Bond FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Education Bond Fund ialah RM1.1906 berbanding dengan RM1.1566 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 2.93%, lebih rendah daripada pulangan penanda aras sebanyak 3.22%. Sejak dimulakan, Dana ini mencatatkan keuntungan 19.06% berbanding dengan prestasi penanda aras sebanyak 15.78%.

PRUlink Education Bond FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Education Bond Fund ialah RM1.1287 berbanding dengan RM1.0021 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 12.63%, mengatasi pulangan penanda aras sebanyak 12.11%.

Sejak dimulakan, Dana ini meraih pulangan 12.87% berbanding dengan prestasi penanda aras sebanyak 46.17%.

170PRUlink funds

PRUlink Golden Managed FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Golden Managed Fund ialah RM1.0612 berbanding dengan RM1.0435 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 1.69%, mengatasi pulangan penanda aras sebanyak 1.30%.


PRUlink Golden Equity Fund IIPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Golden Equity Fund II ialah RM1.0514 berbanding dengan RM1.0450 pada akhir tahun 2013. Bagi tempoh dalam tinjauan, Dana ini meraih pulangan 0.62%, mengatasi pulangan penanda aras sebanyak -6.17%.

Sejak dimulakan, Dana ini meraih pulangan sebanyak 5.14% berbanding dengan prestasi penanda aras sebanyak -2.22%.

PRUlink Golden Bond Fund IIPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Golden Bond Fund II ialah RM1.0632 berbanding dengan RM1.0188 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 4.36%, mengatasi pulangan penanda aras sebanyak 3.22%.

Sejak dimulakan, Dana ini mencapai pulangan sebanyak 6.32% berbanding dengan prestasi penanda aras sebanyak 4.83%.

PRUlink Dyna Growth I Fund Pada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dyna Growth I Fund ialah RM0.9492 berbanding dengan RM0.9272 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan 2.37%.

Sejak dimulakan, Dana ini mencapai pulangan sebanyak -5.08%.

PRUlink Dyna Growth II Fund Pada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dyna Growth II Fund ialah RM0.9264 berbanding dengan RM0.8894 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 4.16%.


PRUlink Dyna Growth III Fund Pada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dyna Growth III Fund ialah RM0.9197 berbanding dengan RM0.8708 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 5.61%.


PRUlink Dyna Growth IV Fund Pada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Dyna Growth IV Fund ialah RM0.9413 berbanding dengan RM0.8797 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 6.99%.


PRUlink Commodity Allocator Fund Pada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Commodity Allocator Fund ialah RM0.9994 berbanding dengan RM0.9681 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 3.23%.

Sejak dimulakan, Dana ini mencapai pulangan sebanyak 3.83%.

PRUlink Commodity Allocator II FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink Commodity Allocator II Fund ialah RM0.9897 berbanding dengan RM0.9605 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 3.03%.


PRUlink MyOptimizer FundPada 31 Disember 2014, Nilai Aset Bersih seunit PRUlink MyOptimizer Fund ialah RM0.9863 berbanding dengan

RM0.9741 pada akhir tahun 2013. Bagi tempoh 1 tahun dalam tinjauan, Dana ini meraih pulangan sebanyak 1.25%.


Sumber: Lipper for Investment Management, Eastspring Investments Berhad, Eastspring Investments (Singapore) Limited, Bloomberg, Maybank, HSBC

171PRUlink funds

Nilai Aset Bersihseunit PRUlink Asia Property

Securities Fund ialah RM1.2441 berbanding dengan RM1.0397

pada akhir tahun 2013. Bagi tempoh 1 tahun dalam

tinjauan, Dana ini meraih pulangan 19.66%, mengatasi

pulangan penanda aras sebanyak 19.25%.

Sejak dimulakan, PRUlink Equity

Fund mencatatkan keuntungan

300.48% berbanding dengan prestasi

penanda arassebanyak 78.43%.

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Equity Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Ekuiti Automotif 2.20 0.78 1.21 1.03 1.68

Perbankan & Kewangan 27.05 26.49 26.62 20.69 29.26

Bahan Binaan 0.19 0.18 0.23 0.37 0.57

Konglomerat 7.29 6.79 7.58 6.16 7.07

Pembinaan 3.33 2.29 2.23 2.58 5.28

Barang Pengguna 4.06 2.15 2.95 3.03 3.06

Perjudian 4.61 7.73 6.53 8.17 8.65

Perusahaan - - - 1.32 1.67

Pembuatan 0.89 - - 0.02 0.16

Media 0.69 0.54 0.64 0.84 1.14

Minyak & Gas 8.57 13.23 10.28 12.45 5.19

Perladangan 5.39 5.40 4.91 5.60 7.01

Kuasa 7.89 6.56 4.14 3.13 5.10

Harta 6.75 5.69 5.95 4.77 3.16

Perkhidmatan - - 0.94 - -

Teknologi 0.08 0.16 0.53 0.66 1.06

Telekomunikasi 16.37 13.64 16.56 14.12 12.31

Pengangkutan 2.03 0.87 0.44 1.72 2.50

Air - - 0.09 0.10 0.23

97.39 92.50 91.83 86.76 95.11

Tunai dan Deposit 4.00 8.79 9.12 14.13 5.66

Aset Lain 0.26 0.27 0.06 0.22 0.32

Jumlah Liabiliti (1.65) (1.56) (1.01) (1.11) (1.09)

Jumlah 100.00 100.00 100.00 100.00 100.00

172PRUlink funds

PRUlink Equity Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Jumlah Nilai Aset Bersih(RM) 8,054,435,890 7,764,580,770 6,570,022,228 5,331,302,110 4,878,213,363

Unit dalam Edaran 2,011,189,523 1,867,031,403 1,762,061,510 1,606,185,161 1,529,617,613

NAB Seunit(RM) 4.005 4.159 3.729 3.319 3.189

NAB Tertinggi Seunit(RM) 4.249 4.163 3.729 3.382 3.198

NAB Terendah Seunit(RM) 3.822 3.592 3.285 2.905 2.571

Jumlah Pulangan(+)

-Pertumbuhan Modal (3.70%) 11.54% 12.33% 4.08% 21.34%

-Agihan Pendapatan - - - - -

Pulangan Tahunan Purata -Dana(+) Tempoh

Satu tahun (3.70%)

Tiga tahun 6.46%

Lima tahun 8.79%

Pulangan Tahunan Purata-Penanda Aras: Indeks Top 100 FTSE Bursa Malaysia (FBM100)

Tempoh

Satu tahun (6.17%)

Tiga tahun 4.63%

Lima tahun 7.29%

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember

173PRUlink funds

Prestasi PRUlink Equity Fund(Sejak Dimulakan)

Peru

bah

an S

D %

Tarikh

350.00%

330.00%

310.00%

290.00%

270.00%

250.00%

230.00%

210.00%

190.00%

170.00%

150.00%

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

(30.00%)

(50.00%)

(70.00%)

(90.00%)

350.00%

330.00%

310.00%

290.00%

270.00%

250.00%

230.00%

210.00%

190.00%

170.00%

150.00%

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

(30.00%)

(50.00%)

(70.00%)

(90.00%)

PEF

FBM100

Okt-

97

Jun-

98

Mac-

04

Okt-

04

Jun-

05

Feb-

06

Sep-

06

Mei-

07

Dis-

07

Og-

08

Apr-

09

Nov-

09

Jul-

10

Mac-

11

Okt-

11

Jun-

12

Jan-

13

Sep-

13

Mei-

14

Dis-

14

Sep-

99

Feb-

99

Mei-

00

Jan-

01

Og-

01

Apr-

02

Nov-

02

Jul-

03

+ Pulangan Dana dikira berdasarkan lima tempat perpuluhan

Harga unit Dana mungkin turun dan juga naik dan angka prestasi lepas tidak membayangkan prestasi masa depan.

PRUlink Equity Fund berbanding Indeks Top 100 FTSE Bursa Malaysia (FBM100)

174PRUlink funds

PRUlink Bond Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Sekuriti Pendapatan Tetap:

-Bon/Sekuriti Korporat 97.29 99.60 98.31 84.90 91.10

-Sijil Deposit Boleh Niaga - - - - 0.49

Tunai dan Deposit 3.19 0.77 1.92 14.70 8.23

Aset Lain 0.97 0.99 0.95 0.87 0.79

Jumlah Liabiliti (1.45) (1.36) (1.18) (0.47) (0.61)

Jumlah 100.00 100.00 100.00 100.00 100.00

Jumlah Nilai Aset Bersih(RM) 2,356,521,984 2,112,638,115 1,745,601,224 1,506,193,723 1,035,786,244

Unit dalam Edaran 830,980,959 770,670,071 650,569,199 586,581,160 425,071,298

NAB Seunit(RM) 2.836 2.741 2.683 2.568 2.437

NAB Tertinggi Seunit(RM) 2.836 2.749 2.683 2.568 2.435

NAB Terendah Seunit(RM) 2.732 2.678 2.568 2.436 2.306

Jumlah Pulangan(+)

-Pertumbuhan Modal 3.45% 2.17% 4.50% 5.38% 5.74%

-Agihan Pendapatan - - - - -

Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 3.45% Tiga tahun 3.37% Lima tahun 4.24% Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17%

Lima tahun 3.06%


175PRUlink funds

Prestasi PRUlink Bond Fund(Sejak Dimulakan)

Peru

bah

an S

D %

195.00%

175.00%

155.00%

135.00%

115.00%

95.00%

75.00%

55.00%

35.00%

15.00%

(5.00%)

195.00%

175.00%

155.00%

135.00%

115.00%

95.00%

75.00%

55.00%

35.00%

15.00%

(5.00%)

PRUlink Bond Fund berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1



Tarikh

Okt-

97

Mei-

98

Feb-

03

Sep-

03

Apr-

04

Nov-

04

Jun-

05

Jan-

06

Og-

06

Apr-

07

Nov-

07

Jun-

08

Jan-

09

Og-

09

Og-

12

Mac-

10

Mac-

13

Okt-

10

Okt-

13

Mei-

14

Dis-

14

Jun-

11

Jan-

12

Jul-

99

Dis-

98

Feb-

00

Sep-

00

Apr-

01

Nov-

01

Jul-

02

PBF

MBB 12B PI Kadar DT

176PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Managed Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Pelaburan dalam-


PRUlink Bond Fund 32.41 29.95 29.24 37.05 26.08

Tunai dan Deposit - - - - -

Aset Lain - - - - -

Jumlah Liabiliti - - - - -

Jumlah 100.00 100.00 100.00 100.00 100.00

Jumlah Nilai Aset Bersih(RM) 1,829,981,288 1,818,991,966 1,652,592,952 1,463,691,529 1,339,546,299 Unit dalam Edaran 569,492,759 556,020,850 546,638,110 529,277,449 501,044,275 NAB Seunit(RM) 3.213 3.271 3.023 2.765 2.674 NAB Tertinggi Seunit(RM) 3.327 3.272 3.023 2.806 2.677 NAB Terendah Seunit(RM) 3.115 2.949 2.748 2.533 2.261 Jumlah Pulangan(+) -Pertumbuhan Modal (1.78%) 8.21% 9.32% 3.44% 16.59% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun (1.78%) Tiga tahun 5.13% Lima tahun 6.98% Pulangan Tahunan Purata-Penanda Aras: 70% IndeksTop 100 FTSE Bursa Malaysia (FBM100) + 30% KadarDeposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun (3.41%) Tiga tahun 4.25%

Lima tahun 6.10%

177PRUlink funds

Prestasi PRUlink Managed Fund(Sejak Dimulakan)

PRUlink Managed Fund berbanding 70% FBM100 + 30% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1



Sep-

99

Apr-

00

Okt-

00

Mei-

01

Dis-

01

Jul-

02

Feb-

03

Og-

03

Mac-

04

Okt-

04

Mei-

05

Nov-

05

Jun-

06

Jan-

07

Og-

07

Feb-

08

Sep-

08

Apr-

09

Nov-

09

Jun-

10

Dis-

10

Jul-

11

Feb-

12

Sep-

12

Mac-

13

Okt-

13

Mei-

14

Dis-

14

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

PMF

70% FBM100 & 30% MBB 12B PI Kadar DT

Peru

bah

an S

D %

Tarikh

178PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Managed Fund II

Kategori 2014 2013 2012 2011 2010 % % % % %

Pelaburan dalam-


PRUlink Bond Fund 21.51 20.02 18.28 26.87 17.09 Tunai dan Deposit - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - - Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 870,619,126 745,119,419 552,328,913 406,270,008 304,142,421 Unit dalam Edaran 431,290,367 361,206,095 293,199,977 238,271,348 185,582,566 NAB Seunit(RM) 2.019 2.063 1.884 1.705 1.639 NAB Tertinggi Seunit(RM) 2.103 2.064 1.884 1.726 1.641 NAB Terendah Seunit(RM) 1.946 1.830 1.692 1.542 1.360 Jumlah Pulangan(+) -Pertumbuhan Modal (2.14%) 9.51% 10.48% 4.04% 18.50% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun (2.14%) Tiga tahun 5.79% Lima tahun 7.86% Pulangan Tahunan Purata-Penanda Aras: 80% IndeksTop 100 FTSE Bursa Malaysia (FBM100) + 20% KadarDeposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun (4.33%) Tiga tahun 4.38% Lima tahun 6.51%

179PRUlink funds

Prestasi PRUlink Managed Fund II (Sejak Dimulakan)

Tarikh



PRUlink Managed Fund II berbanding 80% FBM100 + 20% Kadar Deposit Tetap12 Bulan Maybank Peringkat 1

Peru

bah

an S

D %

Og-06

Mac-07

Okt-07

Mei-08

Dis-08

Jul-09

Mac-10

Okt-10

Mei-11

Dis-11

Jul-12

Feb-13

Sep-13

Mei-14

Dis-14

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

130.00%

110.00%

90.00%

70.00%

50.00%

30.00%

10.00%

(10.00%)

PMF II

80% FBM100 + 20% MBB 12B P1 Kadar DT

180PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Golden Equity Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Pelaburan dalam-

PRUlink Equity Fund 100.00 100.00 100.00 100.00 99.99 Tunai di Bank - - - - 0.01 Aset Lain - - - - - Jumlah Liabiliti - - - - - Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 279,757,602 245,100,416 189,499,007 139,790,024 109,840,807 Unit dalam Edaran 178,130,415 150,285,110 129,598,121 107,389,466 87,742,702 NAB Seunit(RM) 1.571 1.631 1.462 1.302 1.252 NAB Tertinggi Seunit(RM) 1.666 1.633 1.462 1.326 1.254 NAB Terendah Seunit(RM) 1.499 1.409 1.288 1.139 1.008 Jumlah Pulangan(+) -Pertumbuhan Modal (3.70%) 11.54% 12.33% 3.98% 21.45% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun (3.70%) Tiga tahun 6.46% Lima tahun 8.79% Pulangan Tahunan Purata-Penanda Aras:Indeks Top 100 FTSE Bursa Malaysia (FBM100) Tempoh Satu tahun (6.17%) Tiga tahun 4.63% Lima tahun 7.29%

181PRUlink funds

Prestasi PRUlink Golden Equity Fund(Sejak Dimulakan)

Tarikh



Peru

bah

an S

D %

Nov-07

Sep-08

Jun-09

Mac-10

Jan-11

Okt-11

Og-12

Mei-13

Mac-14

Dis-14

75.00%

65.00%

55.00%

45.00%

35.00%

25.00%

15.00%

5.00%

(5.00%)

(15.00%)

(25.00%)

(35.00%)

(45.00%)

75.00%

65.00%

55.00%

45.00%

35.00%

25.00%

15.00%

5.00%

(5.00%)

(15.00%)

(25.00%)

(35.00%)

(45.00%)

PGE

FBM100

PRUlink Golden Equity Fund berbanding Indeks Top 100 FTSE Bursa Malaysia (FBM100)

182PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Golden Bond Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Pelaburan dalam-

PRUlink Bond Fund 100.00 100.00 100.00 100.00 100.00 Tunai di Bank - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - - Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 758,779,029 580,107,496 464,414,966 338,728,479 249,642,277 Unit dalam Edaran 585,723,397 460,934,120 375,120,833 284,508,770 220,001,951 NAB Seunit(RM) 1.295 1.259 1.238 1.191 1.135 NAB Tertinggi Seunit(RM) 1.296 1.264 1.238 1.191 1.135 NAB Terendah Seunit(RM) 1.253 1.235 1.191 1.135 1.080 Jumlah Pulangan(+) -Pertumbuhan Modal 2.93% 1.66% 3.99% 4.92% 5.13% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 2.93% Tiga tahun 2.85% Lima tahun 3.72% Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17% Lima tahun 3.06%

183PRUlink funds

Peru

bah

an S

D %

33.00%

28.00%

23.00%

18.00%

13.00%

8.00%

3.00%

(2.00)

33.00%

28.00%

23.00%

18.00%

13.00%

8.00%

3.00%

(2.00)

PRUlink Golden Bond Fund berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Golden Bond Fund(Sejak Dimulakan)

Tarikh



PGB

MBB 12B P1 Kadar DT

Nov-

07

Mac-

08

Jun-

08

Okt-

08

Jan-

09

Mei-

09

Og-

09

Dis-

09

Mac-

10

Jul-

10

Okt-

10

Feb-

11

Mei-

11

Sep-

11

Dis-

11

Apr-

12

Jul-

12

Nov-

12

Feb-

13

Jun-

13

Sep-

13

Jan-

14

Mei-

14

Og-

14

Dis-

14

184PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Golden Managed Fund

Kategori 2014 2013 2012 % % % Pelaburan dalam-

PRUlink Golden Equity Fund 17.74 21.49 20.35

PRUlink Golden Bond Fund 82.26 78.51 79.65 Tunai dan Deposit - - - Aset Lain - - - Jumlah Liabiliti - - -

Jumlah 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 132,628,088 101,580,240 70,327,049 Unit dalam Edaran 124,984,945 97,345,581 69,836,327 NAB Seunit(RM) 1.061 1.044 1.007 NAB Tertinggi Seunit(RM) 1.069 1.044 1.007 NAB Terendah Seunit(RM) 1.032 1.002 0.991 Jumlah Pulangan(+) -Pertumbuhan Modal 1.69% 3.62% 0.70%-Agihan Pendapatan - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 1.69% Tiga tahun 2.77% Lima tahun tiada Pulangan Tahunan Purata-Penanda Aras: 20% Indeks Top 100 FTSE Bursa Malaysia (FBM100)+ 80% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 1.30% Tiga tahun 3.08% Lima tahun tiada

185PRUlink funds

Peru

bah

an S

D %

Prestasi PRUlink Golden Managed Fund (Sejak Dimulakan)

Tarikh



10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00)%

(2.00)%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00)%

(2.00)%

PRUlink Golden Managed Fund berbanding 20% FBM100+ 80% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

PGM

20% FBM100 + 80% MBB12B P1 Kadar DT

Okt-

12

Nov-

12

Dis-

12

Jan-

13

Feb-

13

Mac-

13

Apr-

13

Mei-

13

Jun-

13

Jul-

13

Og-

13

Sep-

13

Okt-

13

Nov-

13

Dis-

13

Jan-

14

Feb-

14

Mac-

14

Apr-

14

Mei-

14

Jun-

14

Jul-

14

Og-

14

Sep-

14

Okt-

14

Nov-

14

Dis-

14

186PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Education Equity Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam-

PRUlink Equity Fund 100.00 100.00 100.00 100.00 100.00 Tunai dan Deposit - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - -

Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 1,850,174 1,477,243 931,052 468,705 148,669 Unit dalam Edaran 1,257,138 966,581 679,485 384,238 126,732 NAB Seunit(RM) 1.472 1.528 1.370 1.220 1.173 NAB Tertinggi Seunit(RM) 1.561 1.530 1.370 1.243 1.175 NAB Terendah Seunit(RM) 1.405 1.320 1.207 1.067 0.961 Jumlah Pulangan(+) -Pertumbuhan Modal (3.70%) 11.54% 12.33% 3.98% 17.31% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun (3.70%) Tiga tahun 6.46% Lima tahun 8.31% Pulangan Tahunan Purata-Penanda Aras:Indeks Top 100 FTSE Bursa Malaysia (FBM100) Tempoh Satu tahun (6.17%) Tiga tahun 4.63% Lima tahun 7.49%

187PRUlink funds

Peru

bah

an S

D %

Prestasi PRUlink Education Equity Fund(Sejak Dimulakan)

Tarikh

58.00%

54.00%

50.00%

46.00%

42.00%

38.00%

34.00%

30.00%

26.00%

22.00%

18.00%

14.00%

10.00%

6.00%

2.00%

(2.00)%

(6.00)%

58.00%

54.00%

50.00%

46.00%

42.00%

38.00%

34.00%

30.00%

26.00%

22.00%

18.00%

14.00%

10.00%

6.00%

2.00%

(2.00)%

(6.00)%

PRUlink Education Equity Fund berbanding Indeks Top 100 FTSE Bursa Malaysia (FBM100)

PEEF

FBM 100

Mac-10

Jul-10

Nov-10

Apr-11

Og-11

Dis-11

Mei-12

Sep-12

Feb-13

Jun-13

Okt-13

Mac-14

Jul-14

Dis-14



188PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Education Bond Fund


PRUlink Bond Fund 100.00 100.00 100.00 100.00 100.00 Tunai dan Deposit - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - -

Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 3,165,380 2,246,990 1,468,942 764,551 241,361 Unit dalam Edaran 2,658,726 1,942,683 1,291,040 698,748 231,444 NAB Seunit(RM) 1.191 1.157 1.138 1.094 1.043 NAB Tertinggi Seunit(RM) 1.191 1.162 1.138 1.094 1.043 NAB Terendah Seunit(RM) 1.152 1.135 1.094 1.043 1.000 Jumlah Pulangan(+) -Pertumbuhan Modal 2.93% 1.66% 3.99% 4.92% 4.92% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 2.93% Tiga tahun 2.85% Lima tahun 3.67% Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17% Lima tahun 3.07%

189PRUlink funds

Peru

bah

an S

D %

Prestasi PRUlink Education Bond Fund (Sejak Dimulakan)

Tarikh



20.00%

17.50%

15.00%

12.50%

10.00%

7.50%

5.00%

2.50%

0.00%

20.00%

17.50%

15.00%

12.50%

10.00%

7.50%

5.00%

2.50%

0.00%

PRUlink Education Bond Fund berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

PEBF

MBB 12B P1 Kadar DT

Feb-10

Jul-10

Nov-10

Apr-11

Og-11

Dis-11

Mei-12

Sep-12

Feb-13

Jun-13

Okt-13

Mac-14

Jul-14

Dis-14

190PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dana Unggul

Kategori 2014 2013 2012 2011 2010 % % % % % Ekuiti Automotif 4.52 4.23 1.89 1.41 1.83 Bahan Binaan - - 0.42 0.93 2.25 Konglomerat 10.36 8.29 8.12 6.91 10.86 Pembinaan 4.61 5.20 4.56 6.54 13.82 Barang Pengguna 7.63 2.89 2.59 4.90 2.31 Kewangan 3.54 3.05 1.02 0.43 0.14 Perusahaan - - - 0.85 1.65 Insurans - 1.42 - - - Pembuatan 1.87 0.84 1.56 0.25 1.09 Media 0.21 0.15 0.35 0.10 0.10 Minyak & Gas 11.66 22.44 17.51 16.52 9.13 Perladangan 8.16 8.27 7.23 10.53 12.75 Kuasa 10.71 9.77 8.40 5.31 8.60 Harta 7.18 3.15 3.87 3.59 7.02 Perkhidmatan - - 2.58 - - Teknologi 1.27 1.19 1.39 0.76 0.43 Telekomunikasi 23.68 24.34 26.97 27.37 17.52 Pengangkutan 3.55 1.53 0.29 2.71 5.99 Air - - - - - 98.94 96.76 88.75 89.11 95.48 Tunai dan Deposit 3.40 5.24 14.23 12.45 5.62 Aset Lain 0.43 0.37 0.06 0.10 0.54 Jumlah Liabiliti (2.77) (2.37) (3.04) (1.66) (1.64)

Jumlah 100.00 100.00 100.00 100.00 100.00

191PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dana Unggul

Category 2014 2013 2012 2011 2010 % % % % % Jumlah Nilai Aset Bersih(RM) 777,011,048 728,190,576 595,058,804 476,257,918 404,622,738 Unit dalam Edaran 227,771,332 212,971,620 202,181,530 186,266,558 170,971,017 NAB Seunit(RM) 3.411 3.419 2.943 2.557 2.367 NAB Tertinggi Seunit(RM) 3.552 3.429 2.943 2.557 2.384 NAB Terendah Seunit(RM) 3.249 2.805 2.529 2.199 1.950 Jumlah Pulangan(+) -Pertumbuhan Modal (0.23%) 16.17% 15.11% 8.04% 18.10% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun (0.23%) Tiga tahun 10.09% Lima tahun 11.23% Pulangan Tahunan Purata-Penanda Aras:Indeks Syariah Emas FTSE-Bursa Malaysia (FBMSHA) Tempoh Satu tahun (4.17%) Tiga tahun 6.68% Lima tahun 8.01%

192PRUlink funds

PRUlink Dana Unggul berbanding Indeks Syariah Emas FTSE - Bursa Malaysia (FBMSHA)

Prestasi PRUlink Dana Unggul(Sejak Dimulakan)



Peru

bah

an S

D %

Tarikh

280.00%

260.00%

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00)%

(40.00)%

280.00%

260.00%

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00)%

(40.00)%

PDU

FBMSHA

Og-

00

Mac-

01

Okt-

01

Jun-

02

Jan-

03

Sep-

03

Apr-

04

Dis-

04

Jul-

05

Mac-

06

Okt-

06

Jun-

07

Jan-

08

Sep-

08

Apr-

09

Dis-

09

Jul-

10

Mac-

11

Okt-

11

Jun-

12

Jan-

13

Sep-

13

Apr-

14

Dis-

14

193PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dana Aman

Kategori 2014 2013 2012 2011 2010 % % % % % Sekuriti Pendapatan Tetap: -Bon/Sekuriti Korporat 98.98 99.01 99.89 83.55 89.45 Tunai dan Deposit 1.52 1.25 1.32 16.58 10.44 Aset Lain 1.08 1.10 1.05 0.70 0.68 Jumlah Liabiliti (1.58) (1.36) (2.26) (0.83) (0.57)

Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 110,086,781 96,074,541 82,705,425 81,094,201 56,965,611 Unit dalam Edaran 51,540,664 46,759,279 40,727,934 42,065,657 31,048,484 NAB Seunit(RM) 2.136 2.055 2.031 1.928 1.835 NAB Tertinggi Seunit(RM) 2.137 2.084 2.031 1.928 1.833 NAB Terendah Seunit(RM) 2.044 2.026 1.928 1.833 1.733 Jumlah Pulangan(+) -Pertumbuhan Modal 3.95% 1.18% 5.34% 5.07% 5.89% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 3.95% Tiga tahun 3.48% Lima tahun 4.27% Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17% Lima tahun 3.06%

194PRUlink funds

Peru

bah

an S

D %

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

PRUlink Dana Aman berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Dana Aman(Sejak Dimulakan)

Tarikh

PDA

MBB 12B P1 Kadar DT

Og-

00

Mac-

01

Okt-

01

Mei-

02

Dis-

02

Og-

03

Mac-

04

Okt-

04

Mei-

05

Dis-

05

Jul-

06

Mac-

07

Okt-

07

Mei-

08

Dis-

08

Jul-

09

Mac-

10

Okt-

10

Mei-

11

Dis-

11

Jul-

12

Mac-

13

Okt-

13

Mei-

14

Dis-

14



195PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dana Urus


PRUlink Dana Unggul 67.20 70.36 70.60 63.27 72.89

PRUlink Dana Aman 32.80 29.64 29.40 36.73 27.11 Tunai dan Deposit - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - - Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 149,679,771 150,251,177 134,348,503 120,239,674 107,985,913 Unit dalam Edaran 51,416,641 52,024,160 51,660,963 51,583,253 49,146,556 NAB Seunit(RM) 2.911 2.888 2.601 2.331 2.197 NAB Tertinggi Seunit(RM) 2.979 2.891 2.601 2.331 2.208 NAB Terendah Seunit(RM) 2.789 2.518 2.315 2.111 1.898 Jumlah Pulangan(+) -Pertumbuhan Modal 0.80% 11.06% 11.57% 6.09% 14.19% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 0.80% Tiga tahun 7.69% Lima tahun 8.63% Pulangan Tahunan Purata-Penanda Aras: 70% IndeksSyariah Emas FTSE-Bursa Malaysia (FBMSHA) +30% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun (1.96%) Tiga tahun 5.70% Lima tahun 6.61%

196PRUlink funds

Peru

bah

an S

D %

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

240.00%

220.00%

200.00%

180.00%

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

PRUlink Dana Urus berbanding 70% FBMSHA + 30% Kadar Deposit 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Dana Urus(Sejak Dimulakan)

Tarikh



PDUrus

70% FBMSHA & 30% 12B PI Kadar DT MBB

Og-00

Apr-03

Jan-06

Dis-00

Og-03

Mei-06

Apr-01

Jan-04

Sep-0

6

Okt-08

Nov-10

Og-01

Mei-04

Feb-07

Feb-09

Mac-11

Nov-12

Dis-01

Sep-0

4

Jun-07

Jun-09

Jul-11

Mac-13

Apr-02

Jan-05

Okt-07

Okt-09

Nov-11

Og-13

Og-02

Mei-05

Feb-08

Mac-10

Mac-12

Dis-13

Dis-02

Sep-0

5

Jun-08

Jul-10

Jul-12

Apr-14

Og-14

Dis-14

197PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dana Urus II


PRUlink Dana Unggul 78.52 80.43 81.80 73.21 82.25

PRUlink Dana Aman 21.48 19.57 18.20 26.79 17.75 Tunai dan Deposit - - - - - Aset Lain - - - - - Jumlah Liabiliti - - - - - Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 82,219,425 66,493,529 46,916,549 34,271,843 23,580,782 Unit dalam Edaran 38,369,365 31,261,133 24,903,350 20,542,873 15,168,477 NAB Seunit(RM) 2.143 2.127 1.884 1.668 1.555 NAB Tertinggi Seunit(RM) 2.200 2.131 1.884 1.668 1.563 NAB Terendah Seunit(RM) 2.045 1.814 1.655 1.490 1.319 Jumlah Pulangan(+) -Pertumbuhan Modal 0.74% 12.90% 12.93% 7.31% 15.79% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 0.74% Tiga tahun 8.70% Lima tahun 9.80% Pulangan Tahunan Purata-Penanda Aras: 80% IndeksSyariah Emas FTSE-Bursa Malaysia (FBMSHA) +20% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun (2.70%) Tiga tahun 6.03% Lima tahun 7.09%

198PRUlink funds

Og-06

Mei-08

Mac-10

Dis-11

Sep-13

Mac-07

Dis-08 Okt-10

Jul-12

Mei-14

Okt-07

Jul-09

Mei-11

Feb-13

Dis-14

Peru

bah

an S

D %

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

160.00%

140.00%

120.00%

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

PRUlink Dana Urus II berbanding. 80% FBMSHA + 20% Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Dana Urus II(Sejak Dimulakan)

Tarikh



PDUrus II

80%FBMSHA & 20%MBB 12B P1 Kadar DT

199PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Asia Managed Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Asian Equity Fund 82.10 72.34 72.22 63.80 75.43 Asian Bond Fund 22.05 30.74 30.54 36.51 28.16 Tunai di Bank 0.01 0.06 0.19 1.00 0.23 Aset Lain - - 0.25 - - Jumlah Liabiliti (4.16) (3.14) (3.20) (1.31) (3.82)Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 192,612,822 185,240,816 194,409,461 193,768,310 241,982,226 Unit dalam Edaran 129,789,007 140,282,547 150,889,257 170,529,096 187,961,255 NAB Seunit(RM) 1.484 1.320 1.288 1.136 1.287 NAB Tertinggi Seunit(RM) 1.492 1.325 1.290 1.307 1.311 NAB Terendah Seunit(RM) 1.264 1.171 1.134 1.064 1.098 Jumlah Pulangan(+) -Pertumbuhan Modal 12.39% 2.49% 13.39% (11.74%) 4.56% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 12.39% Tiga tahun 9.31% Lima tahun 3.80% Pulangan Tahunan Purata-Penanda Aras:70% Indeks MSCI Asia Kecuali Jepun +30% Indeks JP Morgan Asia Credit Tempoh Satu tahun 13.22% Tiga tahun 12.84% Lima tahun 6.85%

200PRUlink funds

Peru

bah

an S

D %

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

100.00%

80.00%

60.00%

40.00%

20.00%

0.00%

(20.00%)

(40.00%)

PRUlink Asia Managed Fund berbanding 70% Indeks MSCI Asia kecuali Jepun + 30% Indeks JP Morgan Asia Credit

Prestasi PRUlink Asia Managed Fund(Sejak Dimulakan)

Tarikh

Nov-

05

Apr-

06

Dis-

06

Sep-

07

Jun-

08

Mac-

09

Nov-

09

Og-

10

Mei-

11

Jan-

12

Okt-

12

Og-

06

Mei-

07

Jan-

08

Okt-

08

Jul-

09

Apr-

10

Dis-

10

Sep-

11

Jun-

12

Feb-

13

Jul-

13

Nov-

13

Mac-

14

Og-

14

Dis-

14

AMF

70%MSCI & 30%JP MORGAN



201PRUlink funds

Bagi tahun kewangan berakhir 31 Disember ASIAN EQUITY FUND

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Baht Thai 2.82 3.28 2.74 2.68 2.95 Dolar Hong Kong 40.24 37.05 36.16 35.54 34.09 Rupee India 9.25 9.80 8.42 10.22 12.65 Rupiah Indonesia 2.56 3.42 4.95 3.72 3.24 Ringgit Malaysia 2.46 2.38 2.79 3.88 3.27 Dolar Baru Taiwan 11.62 11.25 12.61 13.89 14.28 Peso Filipina 0.55 1.13 1.26 0.48 0.88 Dolar Singapura 6.96 7.33 6.84 5.73 5.02 Dolar AS 2.00 1.82 2.20 1.50 2.33 Won Korea 20.14 20.79 21.08 20.92 20.80 Tunai dan Kesetaraan Tunai 1.40 1.75 0.95 1.44 0.49 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Ekuiti Pengiklanan - - 1.41 - - Pertanian - 1.49 1.18 - - Auto - Alat Ganti Auto 1.46 1.73 1.32 1.77 2.41 Automobil & Komponen - - 3.55 1.36 - Pengeluar Auto 4.66 4.95 - - - Bank 21.72 20.92 17.89 16.58 - Minuman - 0.79 - - - Kilang Arak & Riadah & Hotel - - - - 0.81 Bangunan & Pembinaan - - - - 2.25Bahan Binaan - - 0.51 2.37 - Kimia & Farmaseutikal 1.54 1.62 5.68 2.45 3.51 Arang Batu 1.31 1.56 2.68 1.69 - Khidmat Perdagangan - - - 2.34 0.69 Komputer & Perisian 4.61 2.17 2.39 4.90 8.17 Pengedaran / Borong 1.00 0.75 0.78 - - Khidmat Kewangan Terpelbagai 5.56 6.33 6.91 6.66 - Operasi Terpelbagai - - - - 1.99 Elektrik 2.30 2.25 - - - Elektronik 2.14 3.47 - - -

202PRUlink funds


Kategori 2014 2013 2012 2011 2010 % % % % %

Kejuruteraan & Pembinaan 1.82 1.24 2.03 5.53 5.29 Ekuiti - - - - 3.93 Industri Ekstraktif - - - - 5.39 Kewangan - - - - 16.59 Makanan 3.01 3.55 - - - Makanan & Tektil & Pakaian - - 0.72 0.68 1.94 Penjagaan Kesihatan 0.50 - 0.45 0.92 0.77 Syarikat Pemegangan-Terpelbagai 8.16 5.84 2.72 4.88 3.40 Hiasan Rumah 1.55 - - - - Insurans 1.81 1.32 2.60 2.23 5.83 Pelaburan 0.65 0.64 - - - Besi / Keluli 1.19 1.73 2.01 2.30 - Penginapan 1.37 1.23 1.56 2.12 - Pembuatan - - - 1.00 1.05 Bahan - - - - - Media & Penerbitan - - - - - Perlombongan 1.30 - - 1.34 - Minyak & Gas 5.71 6.95 3.14 4.14 - Farmaseutikal - 0.53 1.29 1.25 - Harta - - - - 1.65 Utiliti Awam - - - - - Harta Tanah 6.06 6.79 7.73 4.81 3.04 Dana Amanah Pelaburan Harta Tanah (REIT) - - - 0.89 - Runcit 1.07 2.21 4.43 2.58 3.59 Semikonduktor 11.19 11.75 12.14 8.49 2.06 Pembinaan Kapal - - 0.88 - - Telekomunikasi 6.91 4.45 4.23 7.37 1.10 Tembakau - - - - - Pengangkutan & Telekomunikasi - - - - 5.44 Pengangkutan - 0.69 1.50 0.82 - Waran - - - - 0.01 Lain-lain - - - - - 98.60 98.25 99.05 98.56 99.51 Tunai dan Kesetaraan Tunai 1.40 1.75 0.95 1.44 0.49

Jumlah 100.00 100.00 100.00 100.00 100.00

203PRUlink funds

Bagi tahun kewangan berakhir 31 Disember ASIAN LOCAL BOND FUND

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % %

Yuan Renminbi China 2.15 1.81 1.03 0.52 0.11 Dolalr Hong Kong - - - - - Rupee India 0.55 0.12 - - - Rupiah Indonesia 0.59 - - - - Ringgit Malaysia - - 0.67 0.22 0.32 Peso Filipina 0.53 0.12 0.29 0.50 0.88 Dolar Singapura 0.84 0.52 0.90 - - Dolar AS 90.26 91.84 90.91 91.55 95.67 Tunai dan Kesetaraan Tunai 5.08 5.59 6.20 7.21 3.02 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % %

Sekuriti Pendapatan Tetap: Bon Korporat 78.93 80.07 73.82 62.82 68.22 Bon Kerajaan 15.99 14.34 19.68 29.75 28.38 Bil Perbendaharaan - - 0.30 0.22 0.38 Berkaitan Gadai Janji - - - - - Deposit Bertempoh - - - - - Tunai dan Kesetaraan Tunai 5.08 5.59 6.20 7.21 3.02 Jumlah 100.00 100.00 100.00 100.00 100.00

Nota: Asian Bond Fund diuruskan oleh Eastspring Investments (Singapore) Limited.

204PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Asia Property Securities Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Asian Property Securities Fund 105.15 102.19 102.41 101.02 102.15 Tunai di Bank 0.18 - 0.04 0.05 0.01 Aset Lain - - - - 0.23 Jumlah Liabiliti (5.33) (2.19) (2.45) (1.07) (2.39)Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 23,972,507 20,801,724 21,306,567 17,797,686 21,375,315 Unit dalam Edaran 19,269,273 20,007,531 20,342,537 22,700,787 26,038,145 NAB Seunit(RM) 1.244 1.040 1.047 0.784 0.821 NAB Tertinggi Seunit(RM) 1.252 1.180 1.057 0.844 0.817 NAB Terendah Seunit(RM) 1.021 1.009 0.784 0.745 0.667 Jumlah Pulangan(+) -Pertumbuhan Modal 19.66% (0.73%) 33.59% (4.50%) 12.05% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 19.66% Tiga tahun 16.64% Lima tahun 11.17% Pulangan Tahunan Purata-Penanda Aras:GPR - Indeks Hartanah Khas Asia Pasifik (Kecuali Jepun) Tempoh Satu tahun 19.25% Tiga tahun 15.29% Lima tahun 10.30%

205PRUlink funds

Peru

bah

an S

D %

40.00%

30.00%

20.00%

10.00%

0.00%

(10.00%)

(20.00%)

(30.00%)

(40.00%)

(50.00%)

(60.00%)

40.00%

30.00%

20.00%

10.00%

0.00%

(10.00%)

(20.00%)

(30.00%)

(40.00%)

(50.00%)

(60.00%)

PRUlink Asian Property Securities Fund berbanding GPR - Indeks Hartanah Khas Asia Pasifik (kecuali Jepun)

Prestasi PRUlink Asia Property Securities Fund(Sejak Dimulakan)

Tarikh



Feb-

08

Jun-

08

Feb-

09

Sep-

09

Mei-

10

Jan-

11

Sep-

11

Mei-

12

Jan-

13

Og-

13

Apr-

14

Okt-

08

Jun-

09

Jan-

10

Sep-

10

Mei-

11

Jan-

12

Sep-

12

Apr-

13

Dis-

13

Og-

14

Dis-

14

APSF

GPR

206PRUlink funds

Bagi tahun kewangan berakhir 31 Disember ASIAN PROPERTY SECURITIES FUND

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Dolar Australia 31.48 27.43 27.49 40.52 42.19 Baht Thai - 1.65 5.10 1.94 1.47 Dolar Hong Kong 27.27 29.27 25.29 19.30 9.38 Ringgit Malaysia - - 1.47 2.45 4.65 Dolar Singapura 24.28 27.55 27.43 12.80 19.33 Yen Jepun - 0.83 0.82 17.27 20.13 Rupiah Indonesia 4.98 4.83 6.28 1.57 1.33 Peso Filipina 3.66 4.33 4.33 1.40 - Dolar AS 7.39 2.28 - - - Tunai dan Kesetaraan Tunai 0.94 1.83 1.79 2.75 1.52 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Ekuiti: Kilang Arak & Riadah & Hotel - - - - - Operasi Terpelbagai - - - - - Kejuruteraan & Pembinaan 0.54 1.00 - - Ekuiti - - - - 9.22 Kewangan - - - - 1.12 Syarikat Pemegangan-Terpelbagai - - - 1.89 - Pembina Rumah - 1.65 2.93 - - Amanah Pelaburan - - - - - Harta - - - - 83.24 Harta Tanah 53.82 51.57 45.65 18.29 4.61 Dana Amanah Pelaburan Harta Tanah (REIT) 44.61 43.95 47.46 75.13 - Runcit - - - - 0.29 Waran 0.09 - - - - Dana Tertutup - - 2.17 1.94 - Dana Mutual - - - - - Tunai dan Kesetaraan Tunai 0.94 1.83 1.79 2.75 1.52 Jumlah 100.00 100.00 100.00 100.00 100.00

Nota: Asian Property Securities Fund diuruskan oleh Eastspring Investments (Singapore) Limited.

207PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Asia Local Bond Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Asian Local Bond Fund 101.63 100.80 104.52 101.72 102.18 Tunai di Bank 1.40 0.09 0.12 0.11 0.11 Aset Lain - - - - - Jumlah Liabiliti (3.03) (0.89) (4.64) (1.83) (2.29)

Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 8,595,083 7,932,219 7,952,237 6,825,378 3,520,349 Unit dalam Edaran 5,520,106 5,659,708 5,587,652 5,089,125 2,798,666 NAB Seunit(RM) 1.557 1.402 1.423 1.341 1.258 NAB Tertinggi Seunit(RM) 1.557 1.459 1.423 1.353 1.293 NAB Terendah Seunit(RM) 1.387 1.369 1.332 1.235 1.211 Jumlah Pulangan(+) -Pertumbuhan Modal 11.10% (1.52%) 6.11% 6.62% 3.49% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 11.10% Tiga tahun 5.10% Lima tahun 5.08% Pulangan Tahunan Purata-Penanda Aras:Indeks Komposit Khas HSBC Tempoh Satu tahun 11.07% Tiga tahun 5.08% Lima tahun 4.94%

208PRUlink funds

Peru

bah

an S

D %

Tarikh

65.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

65.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

PRUlink Asia Local Bond Fund berbanding Indeks Komposit Khas HSBC

Prestasi PRUlink Asia Local Bond Fund(Sejak Dimulakan)

Sep-

08

Jan-

09

Og-

09

Apr-

10

Nov-

10

Jul-

11

Feb-

12

Okt-

12

Mei-

13

Jan-

14

Og-

14

Mei-

09

Dis-

09

Og-

10

Mac-

11

Okt-

11

Jun-

12

Jan-

13

Sep-

13

Apr-

14

Dis-

14

ALBF

HSBC



209PRUlink funds

Bagi tahun kewangan berakhir 31 Disember ASIAN LOCAL BOND FUND

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Ringgit Malaysia 12.21 10.82 11.13 9.31 9.74 Dolar Singapura 15.71 16.95 17.46 17.24 16.75 Dolar AS 6.45 8.34 4.47 7.77 7.82 Dolar Hong Kong 3.81 4.43 6.26 10.66 10.50 Peso Filipina 7.19 6.41 7.13 6.22 4.55 Dolar Taiwan - - - - 8.91 Baht Thai 6.09 8.73 6.56 7.43 7.09 Rupiah Indonesia 13.86 11.49 13.44 12.76 12.09 Won Korea 17.41 17.96 19.78 18.96 18.69 Yuan Renminbi China 1.51 0.66 0.40 0.45 0.03 Rupee India 9.66 8.00 8.72 5.18 - Dong Vietnam 1.26 - - - - Tunai dan Kesetaraan Tunai 4.84 6.21 4.65 4.02 3.83 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Sekuriti Pendapatan Tetap: Bon Korporat 26.49 26.68 28.78 28.54 26.06 Bon Kerajaan 66.68 66.64 65.99 66.26 69.86 Bon Boleh Tukar 0.23 0.36 - 0.90 - Bil Perbendaharaan 0.94 - 0.58 - - Bon Perbendaharaan 0.75 - - - - SWAP Keingkaran Kredit - - 0.45 - - SWAP Kadar Faedah - - 0.01 - - Deposit Bertempoh 2.43 3.96 2.14 - - Berkaitan Gadai Janji - - - 0.28 0.25 Sijil Deposit 0.07 0.08 - - - Niaga Hadapan - 0.03 - - - Tunai dan Kesetaraan Tunai 2.41 2.25 2.05 4.02 3.83 Jumlah 100.00 100.00 100.00 100.00 100.00

Nota: Asian Local Bond Fund diuruskan oleh Eastspring Investments (Singapore) Limited.

210PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Global Market Navigator Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Global Market Navigator Fund 104.12 102.24 107.30 101.69 104.66 Tunai di Bank 0.44 0.08 0.14 0.06 0.03 Aset Lain - - - - - Jumlah Liabiliti (4.56) (2.32) (7.44) (1.75) (4.69)

Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 13,680,676 16,349,222 17,523,576 24,262,751 33,294,895 Unit dalam Edaran 9,095,602 11,602,152 14,530,098 22,010,863 28,676,558 NAB Seunit(RM) 1.504 1.409 1.206 1.102 1.161 NAB Tertinggi Seunit(RM) 1.523 1.414 1.214 1.200 1.187 NAB Terendah Seunit(RM) 1.377 1.206 1.093 1.023 1.050 Jumlah Pulangan(+) -Pertumbuhan Modal 6.74% 16.84% 9.41% (5.06%) (2.14%)-Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 6.74% Tiga tahun 10.91% Lima tahun 4.86% Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17% Lima tahun 3.06%

211PRUlink funds

Peru

bah

an S

D %

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

60.00%

55.00%

50.00%

45.00%

40.00%

35.00%

30.00%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

PRUlink Global Market Navigator Fund berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Global Market Navigator Fund (Sejak Dimulakan)

Tarikh

Sep-

08

Jan-

09

Og-09 Mac-

10

Okt-

10

Mei-

11

Dis-11 Jul-

12

Feb-

13

Sep-

13

Apr-

14

Apr-

09

Nov-

09

Jun-

10

Jan-

11

Sep-

11

Apr-

12

Nov-

12

Jun-

13

Jan-

14

Og-

14

Dis-

14

GMNF

MBB 12B P1 Kadar DT



212PRUlink funds

Bagi tahun kewangan berakhir 31 Disember Global Market Navigator Fund

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Dolar Australia - - - - (0.02)Real Brazil - - - - - Pound British 50.77 54.55 37.62 16.27 10.35 Euro 3.87 0.24 0.04 4.72 (0.40)Rupiah Indonesia - - - - - Yen Jepun - - - 5.26 0.07 Won Korea - - 0.07 3.01 - Ringgit Malaysia - - - 3.03 - Peso Mexico - 4.66 3.95 2.89 5.38 Peso Filipina - - - - 6.20 Dolar Singapura - - - - - Lira Turki - - - - - Dolar AS 34.91 28.68 44.85 40.25 25.93 Dong Vietnam 2.21 2.08 2.21 - - Tunai dan Kesetaraan Tunai 8.24 9.79 11.26 24.57 52.49 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Ekuiti - - - - 2.00 Dana Dagangan Bursa - - - - - Niaga Hadapan 0.17 0.24 0.06 0.08 -0.10Bon Kerajaan 3.26 13.58 6.16 21.91 11.58 Gilt Kerajaan - - - - 4.11 Amanah Pelaburan - - - - - Dana Mutual 81.10 71.57 75.52 46.03 29.92 Deposit Bertempoh - 2.99 - - - Bil Perbendaharaan - - - - - Nota Perbendaharaan 5.02 - - - - Bon Perbendaharaan 2.21 4.82 7.00 7.41 - Tunai dan Kesetaraan Tunai 8.24 6.80 11.26 24.57 52.49 Jumlah 100.00 100.00 100.00 100.00 100.00

Nota: Global Market Navigator Fund diuruskan oleh Eastspring Investments (Singapore) Limited.

213PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dragon Peacock Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Dragon Peacock Fund 102.84 100.80 103.20 99.15 100.00 Tunai dan Deposit 0.01 0.06 0.10 1.18 2.29 Aset Lain - - - 0.82 0.29 Jumlah Liabiliti (2.85) (0.86) (3.30) (1.15) (2.58)Jumlah 100.00 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 39,488,468 33,089,246 31,108,083 23,965,651 24,799,116 Unit dalam Edaran 33,191,501 33,097,899 32,551,066 29,206,015 22,632,337 NAB Seunit(RM) 1.190 1.000 0.956 0.821 1.096 NAB Tertinggi Seunit(RM) 1.212 1.002 0.956 1.136 1.192 NAB Terendah Seunit(RM) 0.917 0.846 0.793 0.799 0.940 Jumlah Pulangan(+) -Pertumbuhan Modal 19.00% 4.61% 16.46% (25.11%) 9.57%-Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 19.00% Tiga tahun 13.18% Lima tahun 3.55% Pulangan Tahunan Purata-Penanda Aras:50% Indeks MSCI China & 50% Indeks MSCI India1 Tempoh Satu tahun 23.91% Tiga tahun 16.47% Lima tahun 3.87%

214PRUlink funds

PRUlink Dragon Peacock Fund berbanding Indeks MSCI China &50% Indeks MSCI India Index 1

Prestasi PRUlink Dragon Peacock Fund(Sejak Dimulakan)

Peru

bah

an S

D %



Tarikh

Feb-

10

Mei-

10

Dis-10 Og-11 Mac-

12

Jul-

12

Feb-

13

Jul-

12

Jan-

14

Og-

14

Sep-

10

Apr-

11

Nov-

11

Okt-

12

Jun-

13

Sep-

13

Mei-

14

Dis-

14

PDPF

50% Indeks MSCI China &50% Indeks MSCI India Index 1

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

(10.00)%

(15.00)%

(20.00)%

(25.00)%

(30.00)%

25.00%

20.00%

15.00%

10.00%

5.00%

0.00%

(5.00)%

(10.00)%

(15.00)%

(20.00)%

(25.00)%

(30.00)%

215PRUlink funds

Bagi tahun kewangan berakhir 31 Disember Dragon Peacock Fund

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Dolar Hong Kong 46.92 49.06 50.19 48.69 43.70 Rupee India 50.57 48.47 46.82 47.24 47.17 Dolar AS - - 1.99 3.48 5.19 Tunai dan Kesetaraan Tunai 2.51 2.47 1.00 0.59 3.94 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Pengiklanan - - 1.99 1.87 - Ruang Angkasa & Pengangkutan Udara - - - - 2.14 Operasi Pertanian 2.47 2.80 2.45 1.88 1.23 Auto - Alat Ganti Auto - - - - 5.11 Pengeluar Auto 7.35 7.62 7.60 4.04 - Bank 15.21 18.86 19.09 20.16 - Bangunan & Pembinaan - - - - 1.68 Bahan Binaan - 1.08 1.48 2.51 - Kimia & Farmaseutikal 4.17 7.60 7.19 5.61 4.89 Arang Batu 4.36 1.97 2.53 2.76 - Khidmat Perdagangan 2.12 - - 0.75 - Komputer & Perisian 10.60 11.77 6.60 8.80 11.08 Kosmetik/Penjagaan Diri - - 2.43 2.54 - Khidmat Kewangan Terpelbagai 6.16 4.58 5.84 4.91 - Elektrik 1.52 1.55 1.67 1.68 - Kejuruteraan & Pembinaan 2.94 2.51 0.93 - - Peralatan Elektronik & Elektrik - - - - 2.27 Tenaga - - - - 14.15 Ekuiti - - - - 5.83 Industri Ekstraktif - - - - 5.28 Kewangan - - - - 22.04 Makanan 1.46 2.32 - - - Keluaran Hutan & Kertas - - 0.81 - - Gas - - 0.44 1.59 - Syarikat Pemegangan-Terpelbagai 1.74 - 0.27 0.24 -

216PRUlink funds

Nota: Dragon Peacock Fund diuruskan oleh Eastspring Investments (Singapore) Limited dan disuburus oleh Eastspring Investments (HK) Limited.

For the financial year ended 31 Disember Dragon Peacock Fund

Kategori 2014 2013 2012 2011 2010 % % % % %

Insurans 4.02 3.29 4.63 4.00 2.45 Internet 3.16 0.96 - 1.61 - Besi/Keluli 2.94 1.33 1.32 1.19 - Pembuatan - - - - 4.28 Pelbagai Pembuatan - 0.92 1.14 0.90 - Media 0.20 1.13 1.18 1.26 - Perlombongan 1.90 1.27 1.55 2.35 - Minyak & Gas 8.86 13.06 12.51 13.90 1.17 Harta - - - - 1.72 Harta Tanah 4.21 4.04 3.99 3.18 2.83 Runcit 1.32 1.44 4.29 0.77 - Telekomunikasi 7.74 6.71 6.51 10.41 4.14 Pengangkutan 1.48 0.72 0.56 0.50 - Pengangkutan & Telekomunikasi - - - - 3.77 Air 1.56 - - - - Tunai & Kesetaraan Tunai 2.51 2.47 1.00 0.59 3.94 Jumlah 100.00 100.00 100.00 100.00 100.00

217PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Education Bond Fund

Kategori 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Asian Equity Fund 100.76 98.71 99.69 98.90 97.58 Tunai dan Deposit 0.01 1.67 0.47 3.44 4.54 Aset Lain 0.06 1.43 - 1.07 2.37 Jumlah Liabiliti (0.83) (1.81) (0.16) (3.41) (4.49)

Jumlah 100.00 100.00 100.00 100.00 100.00

Jumlah Nilai Aset Bersih(RM) 26,133,906 19,529,158 15,477,304 11,775,825 7,215,048 Unit dalam Edaran 23,154,760 19,487,798 15,615,933 13,741,239 6,793,498 NAB Seunit(RM) 1.129 1.002 0.991 0.857 1.062NAB Tertinggi Seunit(RM) 1.134 1.020 0.992 1.078 1.075NAB Terendah Seunit(RM) 0.936 0.875 0.853 0.789 0.999Jumlah Pulangan(+) -Pertumbuhan Modal 12.63% 1.11% 15.65% (19.31%) 6.21%-Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 12.63% Tiga tahun 9.61% Lima tahun 2.80% Pulangan Tahunan Purata-Penanda Aras:Indeks MSCI Asia Kecuali Jepun Tempoh Satu tahun 12.11% Tiga tahun 13.70% Lima tahun 9.06%

218PRUlink funds

Peru

bah

an S

D%

60.00%

56.00%

52.00%

48.00%

44.00%

40.00%

36.00%

32.00%

28.00%

24.00%

20.00%

16.00%

12.00%

8.00%

4.00%

0.00%

(4.00)%

(8.00)%

(12.00)%

(16.00)%

(20.00)%

60.00%

56.00%

52.00%

48.00%

44.00%

40.00%

36.00%

32.00%

28.00%

24.00%

20.00%

16.00%

12.00%

8.00%

4.00%

0.00%

(4.00)%

(8.00)%

(12.00)%

(16.00)%

(20.00)%

PRUlink Education Bond Fund berbanding Indeks MSCI Asia kecuali Jepun

Prestasi PRUlink Education Bond Fund(Sejak Dimulakan)

Tarikh



Og-

10

Dis-

10

Og-

11

Apr-

12

Dis-

12

Apr-

13

Dis-

13

Og-

14

Apr-

11

Dis-

11

Og-

12

Og-

13

Apr-

14

Dis-

14

PAEF

Indeks MSCI Asia kecuali Jepun

219PRUlink funds


Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % % Baht Thai 2.82 3.28 2.74 2.68 2.95 Dolar Hong Kong 40.24 37.05 36.16 35.54 34.09 Rupee India 9.25 9.80 8.42 10.22 12.65 Rupiah Indonesia 2.56 3.42 4.95 3.72 3.24 Ringgit Malaysia 2.46 2.38 2.79 3.88 3.27 Dolar Baru Taiwan 11.62 11.25 12.61 13.89 14.28 Peso Filipina 0.55 1.13 1.26 0.48 0.88 Dolar Singapura 6.96 7.33 6.84 5.73 5.02 Dolar AS 2.00 1.82 2.20 1.50 2.33 Won Korea 20.14 20.79 21.08 20.92 20.80 Tunai dan Kesetaraan Tunai 1.40 1.75 0.95 1.44 0.49 Jumlah 100.00 100.00 100.00 100.00 100.00 Kategori 2014 2013 2012 2011 2010 % % % % % Ekuiti Pengiklanan - - 1.41 - - Pertanian - 1.49 1.18 - - Auto - Alat Ganti & Peralatan Auto 1.46 1.73 1.32 1.77 2.41 Automobil & Komponen - - 3.55 1.36 - Pengeluar Auto 4.66 4.95 - - - Bank 21.72 20.92 17.89 16.58 - Minuman - 0.79 - - - Kilang Arak & Riadah & Hotel - - - - 0.81 Bangunan & Pembinaan - - - - 2.25 Bahan Binaan - - 0.51 2.37 - Kimia & Farmaseutikal 1.54 1.62 5.68 2.45 3.51 Arang Batu 1.31 1.56 2.68 1.69 - Khidmat Perdagangan - - - 2.34 0.69 Komputer & Perisian 4.61 2.17 2.39 4.90 8.17 Pengedaran / Borong 1.00 0.75 0.78 - - Khidmat Kewangan Terpelbagai 5.56 6.33 6.91 6.66 - Operasi Terpelbagai - - - - 1.99 Elektrik 2.30 2.25 - - -

220PRUlink funds


Nota: Asian Equity Fund diuruskan oleh Eastspring Investments (Singapore) Limited.

Pecahan Mata Wang 2014 2013 2012 2011 2010 % % % % %

Elektronik 2.14 3.47 - - - Komponen & Peralatan Elektronik - 1.30 7.32 7.09 9.84 Kejuruteraan & Pembinaan 1.82 1.24 2.03 5.53 5.29 Ekuiti - - - - 3.93 Industri Ekstraktif - - - - 5.39 Kewangan - - - - 16.59 Makanan & Tekstil & Pakaian 3.01 3.55 0.72 0.68 1.94 Penjagaan Kesihatan 0.50 - 0.45 0.92 0.77 Hiasan Rumah 1.55 - - - - Syarikat Pemegangan-Terpelbagai 8.16 5.84 2.72 4.88 3.40 Insurans 1.81 1.32 2.60 2.23 5.83 Syarikat Pelaburan 0.65 0.64 - - - Besi / Keluli 1.19 1.73 2.01 2.30 - Penginapan 1.37 1.23 1.56 2.12 - Pembuatan - - - 1.00 1.05 Perlombongan 1.30 - - 1.34 - Minyak & Gas 5.71 6.95 3.14 4.14 - Farmaseutikal - 0.53 1.29 1.25 - Harta - - - - 1.65 Harta Tanah 6.06 6.79 7.73 4.81 3.04 Dana Amanah Pelaburan Harta Tanah (REIT) - - - 0.89 - Runcit 1.07 2.21 4.43 2.58 3.59 Semikonduktor 11.19 11.75 12.14 8.49 2.06 Pembinaan Kapal - - 0.88 - - Telekomunikasi 6.91 4.45 4.23 7.37 1.10 Pengangkutan & Telekomunikasi - - - - 5.44 Pengangkutan - 0.69 1.50 0.82 - Waran - - - - 0.01 98.60 98.25 99.05 98.56 99.51 Tunai dan Kesetaraan Tunai 1.40 1.75 0.95 1.44 0.49 Jumlah 100.00 100.00 100.00 100.00 100.00

221PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink MyOptimizer Fund

Category 2014 2013 2012 2011 2010 % % % % % Pelaburan dalam- Produk Berstruktur 100.12 100.05 100.13 99.95 100.00 Tunai di Bank 0.20 0.14 0.04 0.04 - Aset Lain - - - 0.05 100.00 Jumlah Liabiliti (0.32) (0.19) (0.17) (0.04) (100.00)

Jumlah 100.00 100.00 100.00 100.00 100.00

Jumlah Nilai Aset Bersih(RM) 31,599,560 32,948,878 48,767,555 47,752,090 48,052,800 Unit dalam Edaran 32,040,000 33,825,000 50,055,000 50,055,000 50,055,000 NAB Seunit(RM) 0.986 0.974 0.974 0.954 0.960 NAB Tertinggi Seunit(RM) 0.986 0.988 0.976 0.980 0.960 NAB Terendah Seunit(RM) 0.967 0.956 0.952 0.946 0.960 Jumlah Pulangan(+) -Pertumbuhan Modal 1.25% (0.02%) 2.13% (0.63%) 0.00% -Agihan Pendapatan - - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 1.25% Tiga tahun 1.11% Lima tahun tiada

222PRUlink funds


Prestasi PRUlink MyOptimizer Fund(Sejak Dimulakan)

Tarikh

‘+ Pulangan Dana dikira berdasarkan lima tempat perpuluhan


Peru

bah

an S

D %

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.0%

(0.50)%

(1.00)%

(1.50)%

(2.00)%

Dis-10

Og-11

Apr-12

Jan-11

Sep-1

1

Mei-12

Feb-11

Okt-11

Jun-12

Nov-12

Mei-13

Mac-11

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Apr-11

Dis-11

Jan-13

Jul-13

Dis-13

Mei-11

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Jun-11

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Jul-11

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

223PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Commodity Allocator Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 100.29 100.04 99.77 100.13 Tunai di Bank 0.49 0.49 0.46 - Aset Lain - - 0.23 - Jumlah Liabiliti (0.78) (0.53) (0.46) (0.13)Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 51,617,818 50,909,560 52,218,980 54,379,572 Unit dalam Edaran 51,650,000 52,585,000 55,664,000 55,664,000 NAB Seunit(RM) 0.999 0.968 0.938 0.977 NAB Tertinggi Seunit(RM) 0.999 0.968 0.983 0.977 NAB Terendah Seunit(RM) 0.956 0.938 0.934 0.953 Jumlah Pulangan(+) -Pertumbuhan Modal 3.23% 3.20% (3.97%) 1.50%-Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 3.23% Tiga tahun 0.76% Lima tahun tiada

224PRUlink funds


Prestasi PRUlink Commodity Allocator Fund(Sejak Dimulakan)

Tarikh

Peru

bah

an S

D %

4.00%

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

(0.50%)

(1.00%)

(1.50%)

(2.00%)

(2.50%)

(3.00%)

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Apr-11

Dis-11

Jan-13

Jul-13

Dis-13

Mei-11

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Jun-11

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Jul-11

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14



225PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Commodity Allocator II Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 100.19 99.95 100.28 100.16 Tunai dan Deposit 0.57 0.56 - - Aset Lain - 0.04 - - Jumlah Liabiliti (0.76) (0.55) (0.28) (0.16)

Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 8,385,269 8,263,345 8,682,463 8,554,645 Unit dalam Edaran 8,473,000 8,603,000 8,705,000 8,705,000 NAB Seunit(RM) 0.990 0.961 0.997 0.983 NAB Tertinggi Seunit(RM) 0.990 1.004 0.997 0.983 NAB Terendah Seunit(RM) 0.924 0.946 0.974 0.964 Jumlah Pulangan(+) -Pertumbuhan Modal 3.03% (3.70%) 1.49% 1.84%-Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 3.03% Tiga tahun 0.24% Lima tahun tiada

226PRUlink funds


Prestasi PRUlink Commodity Allocator II Fund(Sejak Dimulakan)

Tarikh

Peru

bah

an S

D %

3.50%

3.00%

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

(0.50%)

(1.00%)

(1.50%)

(2.00%)

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Jul-11

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14



227PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dyna Growth I Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 100.03 99.83 99.71 99.81 Tunai di Bank 0.40 0.39 0.38 - Aset Lain 0.02 0.18 0.30 0.19 Jumlah Liabiliti (0.45) (0.40) (0.39) -

Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 4,074,193 4,243,677 4,338,542 2,382,787 Unit dalam Edaran 4,292,366 4,577,040 4,736,153 2,550,290 NAB Seunit(RM) 0.949 0.927 0.916 0.934 NAB Tertinggi Seunit(RM) 0.984 1.002 0.950 1.000 NAB Terendah Seunit(RM) 0.927 0.913 0.913 0.929 Jumlah Pulangan(+) -Pertumbuhan Modal 2.37% 1.21% (1.96%) (6.57%)-Agihan Pendapatan - - - -

Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 2.37% Tiga tahun 0.53% Lima tahun tiada

228PRUlink funds


Prestasi PRUlink Dyna Growth I Fund(Sejak Dimulakan)

Tarikh

Peru

bah

an S

D %

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)



229PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dyna Growth II Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 100.11 99.75 99.53 99.69 Tunai di Bank 0.46 0.45 0.44 - Aset Lain 0.03 0.27 0.49 0.31 Jumlah Liabiliti (0.60) (0.47) (0.46) - Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 4,233,601 4,326,134 4,369,558 2,424,589 Unit dalam Edaran 4,570,131 4,864,252 5,026,421 2,702,908 NAB Seunit(RM) 0.926 0.889 0.869 0.897 NAB Tertinggi Seunit(RM) 0.991 1.018 0.923 1.000 NAB Terendah Seunit(RM) 0.889 0.865 0.864 0.888 Jumlah Pulangan(+) -Pertumbuhan Modal 4.16% 2.31% (3.09%) (10.30%)-Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 4.16% Tiga tahun 1.08% Lima tahun tiada

230PRUlink funds


Prestasi PRUlink Dyna Growth II Fund(Sejak Dimulakan)

Tarikh

Peru

bah

an S

D %

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

2.00%

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)

(10.00%)

(11.00%)

(12.00%)

(13.00%)

(14.00%)



231PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dyna Growth III Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 99.90 99.41 99.08 99.23 Tunai di Bank 1.59 1.68 1.74 - Aset Lain 0.62 0.66 0.92 0.77 Jumlah Liabiliti (2.11) (1.75) (1.74) - Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 193,356 183,079 176,868 128,050 Unit dalam Edaran 210,235 210,235 210,235 146,146 NAB Seunit(RM) 0.920 0.871 0.841 0.876 NAB Tertinggi Seunit(RM) 1.008 1.039 0.909 1.000 NAB Terendah Seunit(RM) 0.871 0.837 0.834 0.865 Jumlah Pulangan(+) -Pertumbuhan Modal 5.61% 3.51% (3.98%) (12.38%)-Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 5.61% Tiga tahun 1.63% Lima tahun tiada

232PRUlink funds


Prestasi PRUlink Dyna Growth III Fund(Sejak Dimulakan)

Tarikh

Peru

bah

an S

D %

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

4.00%

3.00%

2.00%

1.00%

0.00%

(1.00%)

(2.00%)

(3.00%)

(4.00%)

(5.00%)

(6.00%)

(7.00%)

(8.00%)

(9.00%)

(10.00%)

(11.00%)

(12.00%)

(13.00%)

(14.00%)

(15.00%)

(16.00%)

(17.00%)

(18.00%)



233PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Dyna Growth IV Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Produk Berstruktur 100.02 99.41 98.97 99.16 Tunai di Bank 2.13 2.27 2.38 - Aset Lain 0.75 0.81 1.05 0.84 Jumlah Liabiliti (2.90) (2.49) (2.40) -

Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 148,616 138,902 132,604 107,802 Unit dalam Edaran 157,893 157,893 157,893 123,012 NAB Seunit(RM) 0.941 0.880 0.840 0.876 NAB Tertinggi Seunit(RM) 1.028 1.052 0.911 1.000 NAB Terendah Seunit(RM) 0.880 0.836 0.831 0.864 Jumlah Pulangan(+) -Pertumbuhan Modal 6.99% 4.75% (4.17%) (12.36%) -Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 6.99% Tiga tahun 2.41% Lima tahun tiada

234PRUlink funds


Prestasi PRUlink Dyna Growth IV Fund(Sejak Dimulakan)



Tarikh

Peru

bah

an S

D %

Og-11

Apr-12

Sep-1

1

Mei-12

Okt-11

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

6.00%5.00% 4.00%3.00%2.00%1.00% 0.00%

(1.00%) (2.00%) (3.00%) (4.00%) (5.00%) (6.00%) (7.00%) (8.00%) (9.00%)

(10.00%) (11.00%) (12.00%) (13.00%)(14.00%) (15.00%) (16.00%) (17.00%) (18.00%)

235PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Money Market Fund

Kategori 2014 2013 2012 2011 % % % %

Pelaburan dalam- Tunai dan Deposit 211.48 99.77 132.87 99.40 Aset Lain 1.63 1.00 1.13 0.64 Jumlah Liabiliti (113.11) (0.77) (34.00) (0.04)

Jumlah 100.00 100.00 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 5,244,198 11,040,816 4,384,691 1,156,088 Unit dalam Edaran 4,650,815 10,255,069 4,217,391 1,150,764 NAB Seunit(RM) 1.128 1.077 1.040 1.005 NAB Tertinggi Seunit(RM) 1.128 1.077 1.040 1.005 NAB Terendah Seunit(RM) 1.077 1.040 1.005 1.000 Jumlah Pulangan(+) -Pertumbuhan Modal 4.73% 3.55% 3.49% 0.46% -Agihan Pendapatan - - - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 4.73% Tiga tahun 3.93% Lima tahun tiada Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun 3.17% Lima tahun tiada

236PRUlink funds

PRUlink Money Market Fund berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

Prestasi PRUlink Money Market Fund(Sejak Dimulakan)

20.00%

19.00%

18.00%

17.00%

16.00%

15.00%

14.00%

13.00%

12.00%

11.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

20.00%

19.00%

18.00%

17.00%

16.00%

15.00%

14.00%

13.00%

12.00%

11.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

Tarikh

PMMF

MBB 12B P1 Kadar DT

Apr-12

Mei-12

Jun-12

Nov-12

Mei-13

Nov-11

Jul-12

Dis-12

Jun-13

Nov-13

Dis-11

Jan-13

Jul-13

Dis-13

Jan-12

Og-12

Feb-13

Og-13

Jan-14

Feb-12

Sep-1

2

Mac-13

Sep-1

3

Feb-14

Mac-12

Okt-12

Apr-13

Okt-13

Mac-14

Apr-14

Mei-14

Og-14

Jun-14

Sep-1

4

Jul-14

Okt-14

Dis-14

Nov-14

Peru

bah

an S

D %



237PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Golden Equity Fund II

Category 2014 2013 % % Equity

Automotif 2.92 3.69

Perbankan & Kewangan 23.15 26.30

Konglomerat 5.81 6.01

Pembinaan 2.99 3.57

Barang Pengguna 6.68 3.01

Permainan 0.97 7.55

Pembuatan 3.39 1.90

Minyak & Gas 8.23 13.03

Perladangan / Sumber Asli 4.99 6.54

Kuasa / Utiliti 6.93 5.46

Harta 14.43 4.30

Teknologi 1.00 1.43

Telekomunikasi 14.12 8.92

Pengangkutan 1.01 0.46

96.64 92.17

Tunai dan Deposit 5.43 16.84

Aset Lain 0.19 0.19

Jumlah Liabiliti (2.26) (9.20)

Jumlah 100.00 100.00

238PRUlink funds


Category 2014 2013 % %

Jumlah Nilai Aset Bersih(RM) 1,897,745 711,360

Unit dalam Edaran 1,804,951 680,759

NAB Seunit(RM) 1.051 1.045

NAB Tertinggi Seunit(RM) 1.119 1.047

NAB Terendah Seunit(RM) 1.004 0.992

Jumlah Pulangan(+)

-Pertumbuhan Modal 0.62% 4.50%

-Agihan Pendapatan - -

Pulangan Tahunan Purata -Dana(+) Tempoh

Satu tahun 0.62%

Tiga tahun n/a

Lima tahun n/a

Pulangan Tahunan Purata-Penanda Aras: Indeks Top 100 FTSE Bursa Malaysia (FBM100) Tempoh

Satu tahun (6.17%)

Tiga tahun n/a

Lima tahun n/a


239PRUlink funds

Peru

bah

an S

D %

Jul-13

Og-13

Nov-13

Sep-13

Dis-13

Okt-13

Jan-14

Feb-14

Apr-14

Jun-14

Mac-14

Mei-14

Jul-14

Og-14

Sep-14

Okt-14

Nov-14

Dis-14

Prestasi PRUlink Golden Equity Fund II(Sejak Dimulakan)

Tarikh

16.00%

14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

(2.00)%

(4.00)%

16.00%

14.00%

12.00%

10.00%

8.00%

6.00%

4.00%

2.00%

0.00%

(2.00)%

(4.00)%

PRUlink Golden Equity Fund II berbanding Indeks FTSE Bursa Malaysia Top 100 (FBM100)

PGE II

FBM100



240PRUlink funds

JADUAL PRESTASI PERBANDINGAN bagi tahun kewangan berakhir 31 Disember PRUlink Golden Bond Fund II

Kategori 2014 2013 % % Pelaburan dalam- Sekuriti Pendapatan Tetap: -Bon/Sekuriti Korporat 95.90 94.31 Tunai dan Deposit 3.34 20.80 Aset Lain 0.76 0.77 Jumlah Liabiliti 0.00 (15.88)Jumlah 100.00 100.00 Jumlah Nilai Aset Bersih(RM) 2,864,742 1,025,196 Unit dalam Edaran 2,694,395 1,006,312 NAB Seunit(RM) 1.063 1.019NAB Tertinggi Seunit(RM) 1.064 1.019NAB Terendah Seunit(RM) 1.018 0.999Jumlah Pulangan(+) -Pertumbuhan Modal 4.36% 1.88%-Agihan Pendapatan - - Pulangan Tahunan Purata -Dana(+) Tempoh Satu tahun 4.36% Tiga tahun tiada Lima tahun tiada Pulangan Tahunan Purata-Penanda Aras:Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1 Tempoh Satu tahun 3.22% Tiga tahun tiada Lima tahun tiada

241PRUlink funds

Peru

bah

an S

D %

Jul-13

Og-13

Nov-13

Sep-13

Dis-13

Okt-13

Jan-14

Feb-14

Apr-14

Jun-14

Mac-14

Mei-14

Jul-14

Og-14

Sep-14

Okt-14

Nov-14

Dis-14

Prestasi PRUlink Golden Bond Fund II(Sejak Dimulakan)

Tarikh

PRUlink Golden Bond Fund II berbanding Kadar Deposit Tetap 12 Bulan Maybank Peringkat 1

PGB II

MBB 12B P1 Kadar DT

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

10.00%

9.00%

8.00%

7.00%

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%



242PRUlink funds

Pada 31 December 2014

RM % RM %

Pelaburan Ekuiti Disebut Harga 7,844,393,738 97.39 7,182,511,102 92.50 Tunai dan Deposit Tunai di Bank 10,453 0.00 18,876 0.00 Deposit 321,840,000 4.00 682,810,000 8.79 Aset Lain 20,758,066 0.26 20,615,226 0.27 Jumlah Aset 8,187,002,257 101.65 7,885,955,204 101.56 Peruntukan Cukai (9,978,474) (0.12) (1,785,912) (0.02) Peruntukan Cukai Tertunda (100,944,349) (1.25) (88,366,517) (1.14) Liabiliti Lain (21,643,544) (0.27) (31,222,005) (0.40) Jumlah Liabiliti (132,566,367) (1.65) (121,374,434) (1.56) Nilai Aset Bersih Dana 8,054,435,890 100.00 7,764,580,770 100.00 Dana Pemegang Polisi Modal 4,775,358,700 59.29 4,181,824,790 53.86Pendapatan Dijana dibawa ke hadapan 3,279,077,190 40.71 3,582,755,980 46.14 8,054,435,890 100.00 7,764,580,770 100.00 Nilai Aset Bersih Seunit (RM) 4.005 4.159

2014 2013

PRUlink Equity Fund

243PRUlink funds


RM % RM %

Pelaburan Sekuriti Pendapatan Tetap 2,292,569,048 97.29 2,104,199,986 99.60 Tunai dan Deposit Tunai di Bank 19,655 0.00 3,840 0.00 Deposit 75,180,000 3.19 16,340,000 0.77 Aset Cukai Tertunda 212,407 0.01 - - Aset Lain 22,739,633 0.96 20,828,796 0.99 Jumlah Aset 2,390,720,743 101.45 2,141,372,622 101.36 Peruntukan Cukai (8,612,597) (0.36) (7,471,501) (0.36) Peruntukan Cukai Tertunda - - (249,633) (0.01) Liabiliti Lain (25,586,162) (1.09) (21,013,373) (0.99) Jumlah Liabiliti (34,198,759) (1.45) (28,734,507) (1.36) Nilai Aset Bersih Dana 2,356,521,984 100.00 2,112,638,115 100.00 Dana Pemegang Polisi Modal 1,934,898,945 82.11 1,767,442,823 83.66 Pendapatan Dijana dibawa ke hadapan 421,623,039 17.89 345,195,292 16.34 2,356,521,984 100.00 2,112,638,115 100.00 Nilai Aset Bersih Seunit (RM) 2.836 2.741

2014 2013

PRUlink Bond Fund

244PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Equity Fund 1,236,868,485 67.59 1,274,221,123 70.05

PRUlink Bond Fund 593,129,056 32.41 544,785,771 29.95 Jumlah Aset 1,829,997,541 100.00 1,819,006,894 100.00 Liabiliti Lain (16,253) (0.00) (14,928) (0.00) Jumlah Liabiliti (16,253) (0.00) (14,928) (0.00) Nilai Aset Bersih Dana 1,829,981,288 100.00 1,818,991,966 100.00 Dana Pemegang Polisi Modal 1,062,183,184 58.04 1,018,209,463 55.98 Pendapatan Dijana dibawa ke hadapan 767,798,104 41.96 800,782,503 44.02 1,829,981,288 100.00 1,818,991,966 100.00 Nilai Aset Bersih Seunit (RM) 3.213 3.271

2014 2013


245PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Equity Fund 683,311,751 78.49 595,917,790 79.98

PRUlink Bond Fund 187,307,737 21.51 149,201,634 20.02 Jumlah Aset 870,619,488 100.00 745,119,424 100.00 Liabiliti Lain (362) (0.00) (5) (0.00) Jumlah Liabiliti (362) (0.00) (5) (0.00) Nilai Aset Bersih Dana 870,619,126 100.00 745,119,419 100.00 Dana Pemegang Polisi Modal 702,358,555 80.67 558,234,629 74.92 Pendapatan Dijana dibawa ke hadapan 168,260,571 19.33 186,884,790 25.08 870,619,126 100.00 745,119,419 100.00 Nilai Aset Bersih Seunit (RM) 2.019 2.063

2014 2013


246PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Equity Fund 279,757,602 100.00 245,100,416 100.00 Jumlah Aset 279,757,602 100.00 245,100,416 100.00 Jumlah Liabiliti - - - - Nilai Aset Bersih Dana 279,757,602 100.00 245,100,416 100.00 Dana Pemegang Polisi Modal 218,784,859 78.21 173,983,706 70.98 Pendapatan Dijana dibawa ke hadapan 60,972,743 21.79 71,116,710 29.02 279,757,602 100.00 245,100,416 100.00 Nilai Aset Bersih Seunit (RM) 1.571 1.631

2014 2013


247PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Bond Fund 758,789,424 100.00 580,115,443 100.00 Jumlah Aset 758,789,424 100.00 580,115,443 100.00 Liabiliti Lain (10,395) (0.00) (7,947) (0.00) Jumlah Liabiliti (10,395) (0.00) (7,947) (0.00) Nilai Aset Bersih Dana 758,779,029 100.00 580,107,496 100.00 Dana Pemegang Polisi Modal 680,721,061 89.71 521,092,532 89.83 Pendapatan Dijana dibawa ke hadapan 78,057,968 10.29 59,014,964 10.17 758,779,029 100.00 580,107,496 100.00 Nilai Aset Bersih Seunit (RM) 1.295 1.259

2014 2013


248PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Golden Equity Fund 23,530,592 17.74 21,826,654 21.49

PRUlink Golden Bond Fund 109,097,537 82.26 79,753,566 78.51 Aset Lain - - 20 0.00 Jumlah Aset 132,628,129 100.00 101,580,240 100.00 Liabiliti Lain (41) (0.00) - - Jumlah Liabiliti (41) (0.00) - - Nilai Aset Bersih Dana 132,628,088 100.00 101,580,240 100.00 Dana Pemegang Polisi Modal 126,899,471 95.68 97,768,821 96.25 Pendapatan Dijana dibawa ke hadapan 5,728,617 4.32 3,811,419 3.75 132,628,088 100.00 101,580,240 100.00 Nilai Aset Bersih Seunit (RM) 1.061 1.044

2014 2013


249PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Equity Fund 1,850,174 100.00 1,477,243 100.00 Jumlah Aset 1,850,174 100.00 1,477,243 100.00 Jumlah Liabiliti - - - - Nilai Aset Bersih Dana 1,850,174 100.00 1,477,243 100.00 Dana Pemegang Polisi Modal 1,676,445 90.61 1,234,612 83.58 Pendapatan Dijana dibawa ke hadapan 173,729 9.39 242,631 16.42 1,850,174 100.00 1,477,243 100.00 Nilai Aset Bersih Seunit (RM) 1.472 1.528

2014 2013


250PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Bond Fund 3,165,423 100.00 2,247,021 100.00 Jumlah Aset 3,165,423 100.00 2,247,021 100.00 Liabiliti Lain (43) (0.00) (31) (0.00) Jumlah Liabiliti (43) (0.00) (31) (0.00) Nilai Aset Bersih Dana 3,165,380 100.00 2,246,990 100.00 Dana Pemegang Polisi Modal 2,985,641 94.32 2,148,456 95.61 Pendapatan Dijana dibawa ke hadapan 179,739 5.68 98,534 4.39 3,165,380 100.00 2,246,990 100.00 Nilai Aset Bersih Seunit (RM) 1.191 1.157

2014 2013


251PRUlink funds


RM % RM %

Pelaburan Ekuiti Disebut Harga 768,763,148 98.94 704,624,785 96.76 Tunai dan Deposit Tunai di Bank 8,523 0.00 11,093 0.00 Deposit 26,410,000 3.40 38,130,000 5.24 Aset Lain 3,376,258 0.43 2,716,522 0.37 Jumlah Aset 798,557,929 102.77 745,482,400 102.37 Peruntukan Cukai (3,014,622) (0.39) (2,384,357) (0.33) Peruntukan Cukai Tertunda (8,964,889) (1.15) (6,937,452) (0.95) Liabiliti Lain (9,567,370) (1.23) (7,970,015) (1.09) Jumlah Liabiliti (21,546,881) (2.77) (17,291,824) (2.37) Nilai Aset Bersih Dana 777,011,048 100.00 728,190,576 100.00 Dana Pemegang Polisi Modal 449,960,005 57.91 398,945,787 54.79 Pendapatan Dijana dibawa ke hadapan 327,051,043 42.09 329,244,789 45.21 777,011,048 100.00 728,190,576 100.00 Nilai Aset Bersih Seunit (RM) 3.411 3.419

2014 2013

PRUlink Dana Unggul

252PRUlink funds


RM % RM %

Pelaburan Sekuriti Pendapatan Tetap 108,964,988 98.98 95,121,780 99.01 Tunai dan Deposit Tunai di Bank 5,747 0.01 25,052 0.02 Deposit 1,670,000 1.52 1,180,000 1.23 Aset Cukai Tertunda 2,792 0.00 - - Aset Lain 1,184,927 1.08 1,056,214 1.10 Jumlah Aset 111,828,454 101.58 97,383,046 101.36 Peruntukan Cukai (447,451) (0.41) (352,978) (0.37) Peruntukan Cukai Tertunda - - (17,847) (0.02) Liabiliti Lain (1,294,222) (1.17) (937,680) (0.97) Jumlah Liabiliti (1,741,673) (1.58) (1,308,505) (1.36) Nilai Aset Bersih Dana 110,086,781 100.00 96,074,541 100.00 Dana Pemegang Polisi Modal 88,015,013 79.95 78,074,141 81.26 Pendapatan Dijana dibawa ke hadapan 22,071,768 20.05 18,000,400 18.74 110,086,781 100.00 96,074,541 100.00 Nilai Aset Bersih Seunit (RM) 2.136 2.055

2014 2013

PRUlink Dana Aman

253PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Dana Unggul 100,590,705 67.20 105,719,748 70.36

PRUlink Dana Aman 49,090,411 32.80 44,532,649 29.64 Jumlah Aset 149,681,116 100.00 150,252,397 100.00 Liabiliti Lain (1,345) (0.00) (1,220) (0.00) Jumlah Liabiliti (1,345) (0.00) (1,220) (0.00) Nilai Aset Bersih Dana 149,679,771 100.00 150,251,177 100.00 Dana Pemegang Polisi Modal 82,989,557 55.44 84,745,991 56.40 Pendapatan Dijana dibawa ke hadapan 66,690,214 44.56 65,505,186 43.60 149,679,771 100.00 150,251,177 100.00 Nilai Aset Bersih Seunit (RM) 2.911 2.888

2014 2013

PRUlink Dana Urus

254PRUlink funds


RM % RM %

Pelaburan dalam

PRUlink Dana Unggul 64,558,597 78.52 53,482,734 80.43

PRUlink Dana Aman 17,660,862 21.48 13,010,787 19.57 Aset Lain - - 8 0.00 Jumlah Aset 82,219,459 100.00 66,493,529 100.00 Liabiliti Lain (34) (0.00) - - Jumlah Liabiliti (34) (0.00) - - Nilai Aset Bersih Dana 82,219,425 100.00 66,493,529 100.00 Dana Pemegang Polisi Modal 63,881,039 77.70 48,597,982 73.09 Pendapatan Dijana dibawa ke hadapan 18,338,386 22.30 17,895,547 26.91 82,219,425 100.00 66,493,529 100.00 Nilai Aset Bersih Seunit (RM) 2.143 2.127

2014 2013


255PRUlink funds


RM % RM %

Pelaburan dalam Asian Equity Fund 158,137,691 82.10 134,004,000 72.34 Asian Bond Fund 42,475,573 22.05 56,939,060 30.74 Tunai di Bank 12,578 0.01 102,180 0.06 Jumlah Aset 200,625,842 104.16 191,045,240 103.14 Peruntukan Cukai (773,876) (0.40) (316,970) (0.17) Peruntukan Cukai Tertunda (3,851,421) (2.00) (1,342,621) (0.73) Liabiliti Lain (3,387,723) (1.76) (4,144,833) (2.24) Jumlah Liabiliti (8,013,020) (4.16) (5,804,424) (3.14) Nilai Aset Bersih Dana 192,612,822 100.00 185,240,816 100.00 Dana Pemegang Polisi Modal 137,060,445 71.16 151,367,349 81.71 Pendapatan Dijana dibawa ke hadapan 55,552,377 28.84 33,873,467 18.29 192,612,822 100.00 185,240,816 100.00 Nilai Aset Bersih Seunit (RM) 1.484 1.320

2014 2013


256PRUlink funds


RM % RM %

Pelaburan dalam Asian Property Securities Fund 25,208,043 105.15 21,256,829 102.19 Tunai di Bank 42,831 0.18 861 0.00 Jumlah Aset 25,250,874 105.33 21,257,690 102.19 Peruntukan Cukai (33,769) (0.14) (38,724) (0.19) Peruntukan Cukai Tertunda (783,732) (3.27) (235,090) (1.13) Liabiliti Lain (460,866) (1.92) (182,152) (0.87) Jumlah Liabiliti (1,278,367) (5.33) (455,966) (2.19) Nilai Aset Bersih Dana 23,972,507 100.00 20,801,724 100.00 Dana Pemegang Polisi Modal 15,059,588 62.82 15,959,345 76.72 Pendapatan Dijana dibawa ke hadapan 8,912,919 37.18 4,842,379 23.28 23,972,507 100.00 20,801,724 100.00 Nilai Aset Bersih Seunit (RM) 1.244 1.040

2014 2013


257PRUlink funds


RM % RM %

Pelaburan dalam Asian Local Bond Fund 8,735,351 101.63 7,995,904 100.80 Tunai dan Deposit Tunai di Bank 4,851 0.06 6,753 0.09 Deposit 115,000 1.34 - - Aset Lain 27 0.00 - - Jumlah Aset 8,855,229 103.03 8,002,657 100.89 Peruntukan Cukai (10,409) (0.12) (8,481) (0.11) Peruntukan Cukai Tertunda (103,900) (1.21) (35,252) (0.44) Liabiliti Lain (145,837) (1.70) (26,705) (0.34) Jumlah Liabiliti (260,146) (3.03) (70,438) (0.89) Nilai Aset Bersih Dana 8,595,083 100.00 7,932,219 100.00 Dana Pemegang Polisi Modal 6,884,030 80.09 7,045,800 88.83 Pendapatan Dijana dibawa ke hadapan 1,711,053 19.91 886,419 11.17 8,595,083 100.00 7,932,219 100.00 Nilai Aset Bersih Seunit (RM) 1.557 1.402

2014 2013


258PRUlink funds


RM % RM %

Pelaburan dalam Global Market Navigator Fund 14,244,787 104.12 16,715,727 102.24 Tunai di Bank 59,383 0.44 13,795 0.08 Jumlah Aset 14,304,170 104.56 16,729,522 102.32 Peruntukan Cukai (80,376) (0.59) (79,269) (0.48) Peruntukan Cukai Tertunda (307,156) (2.25) (150,138) (0.92) Liabiliti Lain (235,961) (1.72) (150,893) (0.92) Jumlah Liabiliti (623,493) (4.56) (380,300) (2.32) Nilai Aset Bersih Dana 13,680,677 100.00 16,349,222 100.00 Dana Pemegang Polisi Modal 9,320,597 68.13 12,908,528 78.95 Pendapatan Dijana dibawa ke hadapan 4,360,080 31.87 3,440,694 21.05 13,680,677 100.00 16,349,222 100.00 Nilai Aset Bersih Seunit (RM) 1.504 1.409

2014 2013


259PRUlink funds


RM % RM %

Pelaburan dalam Dragon Peacock Fund 40,611,446 102.84 33,355,052 100.80 Tunai di Bank 4,475 0.01 19,647 0.06 Aset Lain - - 1,107 0.00 Jumlah Aset 40,615,921 102.85 33,375,806 100.86 Peruntukan Cukai (19,577) (0.05) - - Peruntukan Cukai Tertunda (325,689) (0.82) (90,867) (0.27) Liabiliti Lain (782,187) (1.98) (195,693) (0.59) Jumlah Liabiliti (1,127,453) (2.85) (286,560) (0.86) Nilai Aset Bersih Dana 39,488,468 100.00 33,089,246 100.00 Dana Pemegang Polisi Modal 32,506,180 82.32 32,599,252 98.52 Pendapatan Dijana dibawa ke hadapan 6,982,288 17.68 489,994 1.48 39,488,468 100.00 33,089,246 100.00 Nilai Aset Bersih Seunit (RM) 1.190 1.000

2014 2013


260PRUlink funds


RM % RM %

Pelaburan dalam Asian Equity Fund 26,331,579 100.76 19,276,796 98.71 Tunai dan Deposit Tunai di Bank 1,954 0.01 17,054 0.08 Deposit - - 310,000 1.59 Aset Lain 16,827 0.06 280,691 1.43 Jumlah Aset 26,350,360 100.83 19,884,541 101.81 Peruntukan Cukai - - (2,554) (0.01) Peruntukan Cukai Tertunda (216,434) (0.83) (41,444) (0.21) Liabiliti Lain (20) (0.00) (311,385) (1.59) Jumlah Liabiliti (216,454) (0.83) (355,383) (1.81) Nilai Aset Bersih Dana 26,133,906 100.00 19,529,158 100.00 Dana Pemegang Polisi Modal 23,140,874 88.55 19,318,585 98.92 Pendapatan Dijana dibawa ke hadapan 2,993,032 11.45 210,573 1.08 26,133,906 100.00 19,529,158 100.00 Nilai Aset Bersih Seunit (RM) 1.129 1.002

2014 2013


261PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 31,638,218 100.12 32,964,154 100.05 Tunai di Bank 61,851 0.20 45,164 0.14 Jumlah Aset 31,700,069 100.32 33,009,318 100.19 Peruntukan Cukai (11,812) (0.04) - - Peruntukan Cukai Tertunda (70,385) (0.22) (39,372) (0.12) Liabiliti Lain (18,312) (0.06) (21,068) (0.07) Jumlah Liabiliti (100,509) (0.32) (60,440) (0.19) Nilai Aset Bersih Dana 31,599,560 100.00 32,948,878 100.00 Dana Pemegang Polisi Modal 31,111,995 98.46 32,784,469 99.50 Pendapatan Dijana dibawa ke hadapan 487,565 1.54 164,409 0.50 31,599,560 100.00 32,948,878 100.00 Nilai Aset Bersih Seunit (RM) 0.986 0.974

2014 2013


262PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 51,768,795 100.29 50,929,624 100.04 Tunai di Bank 254,110 0.49 247,526 0.49 Jumlah Aset 52,022,905 100.78 51,177,150 100.53 Peruntukan Cukai (1,233) (0.00) - - Peruntukan Cukai Tertunda (164,454) (0.32) (25,325) (0.05) Liabiliti Lain (239,400) (0.46) (242,265) (0.48) Jumlah Liabiliti (405,087) (0.78) (267,590) (0.53) Nilai Aset Bersih Dana 51,617,818 100.00 50,909,560 100.00 Dana Pemegang Polisi Modal 49,745,379 96.37 50,654,149 99.50 Pendapatan Dijana dibawa ke hadapan 1,872,439 3.63 255,411 0.50 51,617,818 100.00 50,909,560 100.00 Nilai Aset Bersih Seunit (RM) 0.999 0.968

2014 2013


263PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 8,400,980 100.19 8,258,880 99.95 Tunai di Bank 47,606 0.57 46,378 0.56 Aset Cukai Tertunda - - 3,441 0.04 Jumlah Aset 8,448,586 100.76 8,308,699 100.55 Peruntukan Cukai - - (45,349) (0.55) Peruntukan Cukai Tertunda (17,963) (0.21) - - Liabiliti Lain (45,354) (0.54) (5) (0.00) Jumlah Liabiliti (63,317) (0.76) (45,354) (0.55) Nilai Aset Bersih Dana 8,385,269 100.00 8,263,345 100.00 Dana Pemegang Polisi Modal 8,182,856 97.59 8,303,731 100.49 Pendapatan/(Kerugian) Dijana dibawa ke hadapan 202,413 2.41 (40,386) (0.49) 8,385,269 100.00 8,263,345 100.00 Nilai Aset Bersih Seunit (RM) 0.990 0.961

2014 2013


264PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 4,075,457 100.03 4,236,266 99.83 Tunai di Bank 16,382 0.40 16,382 0.39 Aset Cukai 888 0.02 1,037 0.02 Aset Cukai Tertunda - - 6,785 0.16 Jumlah Aset 4,092,727 100.45 4,260,470 100.40 Peruntukan Cukai Tertunda (1,851) (0.05) - - Liabiliti Lain (16,683) (0.41) (16,793) (0.40) Jumlah Liabiliti (18,534) (0.45) (16,793) (0.40) Nilai Aset Bersih Dana 4,074,193 100.00 4,243,677 100.00 Dana Pemegang Polisi Modal 4,063,137 99.73 4,333,640 102.12 Pendapatan/(Kerugian) Dijana dibawa ke hadapan 11,056 0.27 (89,963) (2.12) 4,074,193 100.00 4,243,677 100.00 Nilai Aset Bersih Seunit (RM) 0.949 0.927

2014 2013


265PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 4,238,108 100.11 4,315,285 99.75 Tunai di Bank 19,421 0.46 19,421 0.45 Aset Cukai 1,179 0.03 1,625 0.04 Aset Cukai Tertunda - - 9,748 0.23 Jumlah Aset 4,258,708 100.59 4,346,079 100.47 Peruntukan Cukai Tertunda (5,541) (0.13) - - Liabiliti Lain (19,566) (0.46) (19,945) (0.47) Jumlah Liabiliti (25,107) (0.59) (19,945) (0.47) Nilai Aset Bersih Dana 4,233,601 100.00 4,326,134 100.00 Dana Pemegang Polisi Modal 4,183,446 98.82 4,456,938 103.02 Pendapatan/(Kerugian) Dijana dibawa ke hadapan 50,155 1.18 (130,804) (3.02) 4,233,601 100.00 4,326,134 100.00 Nilai Aset Bersih Seunit (RM) 0.926 0.889

2014 2013


266PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 193,168 99.90 181,997 99.41 Tunai di Bank 3,071 1.59 3,071 1.68 Aset Cukai 1,204 0.62 1,204 0.66 Jumlah Aset 197,443 102.11 186,272 101.75 Peruntukan Cukai Tertunda (1,001) (0.52) (107) (0.06) Liabiliti Lain (3,086) (1.60) (3,086) (1.69) Jumlah Liabiliti (4,087) (2.11) (3,193) (1.75) Nilai Aset Bersih Dana 193,356 100.00 183,079 100.00 Dana Pemegang Polisi Modal 195,718 101.22 195,718 106.90 Kerugian Dijana dibawa ke hadapan (2,362) (1.22) (12,639) (6.90) 193,356 100.00 183,079 100.00 Nilai Aset Bersih Seunit (RM) 0.920 0.871

2014 2013


267PRUlink funds


RM % RM %

Pelaburan Produk Berstruktur 148,644 100.02 138,086 99.41 Tunai di Bank 3,161 2.13 3,160 2.27 Aset Cukai 1,121 0.75 1,121 0.81 Jumlah Aset 152,926 102.90 142,367 102.49 Peruntukan cukai tertunda (1,130) (0.76) (285) (0.20) Liabiliti Lain (3,180) (2.14) (3,180) (2.29) Jumlah Liabiliti (4,310) (2.90) (3,465) (2.49) Nilai Aset Bersih Dana 148,616 100.00 138,902 100.00 Dana Pemegang Polisi Modal 148,532 99.94 148,532 106.93 Pendapatan/(Kerugian) Dijana dibawa ke hadapan 84 0.06 (9,630) (6.93) 148,616 100.00 138,902 100.00 Nilai Aset Bersih Seunit (RM) 0.941 0.880

2014 2013


268PRUlink funds


RM % RM %

Tunai dan Deposit Tunai di Bank 868 0.02 814 0.01 Deposit 11,090,000 211.46 11,015,000 99.76 Aset Lain 85,264 1.63 110,497 1.00 Jumlah Aset 11,176,132 213.11 11,126,311 100.77 Peruntukan Cukai (29,643) (0.56) (21,132) (0.19) Liabiliti Lain (5,902,291) (112.55) (64,363) (0.58) Jumlah Liabiliti (5,931,934) (113.11) (85,495) (0.77) Nilai Aset Bersih Dana 5,244,198 100.00 11,040,816 100.00 Dana Pemegang Polisi Modal 4,567,922 87.10 10,693,530 96.85 Pendapatan Dijana dibawa ke hadapan 676,276 12.90 347,286 3.15 5,244,198 100.00 11,040,816 100.00 Nilai Aset Bersih Seunit (RM) 1.128 1.077

2014 2013


269PRUlink funds


2014 2013


RM % RM %

Pelaburan Ekuiti Disebut Harga 1,833,933 96.64 655,634 92.17 Tunai dan Deposit Tunai di Bank 2,964 0.16 9,789 1.38 Deposit 100,000 5.27 110,000 15.46 Aset Cukai 289 0.01 288 0.04 Aset Lain 3,465 0.18 1,063 0.15 Jumlah Aset 1,940,651 102.26 776,774 109.20 Liabiliti Lain (42,906) (2.26) (65,414) (9.20) Jumlah Liabiliti (42,906) (2.26) (65,414) (9.20) Nilai Aset Bersih Dana 1,897,745 100.00 711,360 100.00 Dana Pemegang Polisi Modal 1,896,999 99.96 691,434 97.20 Pendapatan Dijana dibawa ke hadapan 746 0.04 19,926 2.80 1,897,745 100.00 711,360 100.00 Nilai Aset Bersih Seunit (RM) 1.051 1.045

270PRUlink funds


RM % RM %

Pelaburan Sekuriti Pendapatan Tetap 2,747,237 95.90 966,813 94.31 Tunai dan Deposit Tunai di Bank 95,821 3.34 83,274 8.12 Deposit - - 130,000 12.68 Aset Lain 21,881 0.76 7,924 0.77 Jumlah Aset 2,864,939 100.00 1,188,011 115.88 Liabiliti Lain (197) -0.00 (162,815) (15.88) Jumlah Liabiliti (197) (0.00) (162,815) (15.88) Nilai Aset Bersih Dana 2,864,742 100.00 1,025,196 100.00 Dana Pemegang Polisi Modal 2,779,472 97.02 1,016,468 99.15 Pendapatan Dijana dibawa ke hadapan 85,270 2.98 8,728 0.85 2,864,742 100.00 1,025,196 100.00 Nilai Aset Bersih Seunit (RM) 1.063 1.019

2014 2013

PRUlink Golden Bond Fund II

271PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Equity Fund

PRUlink Bond Fund

2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 7,764,580,770 6,570,022,228

Amaun diterima daripada unit yang diterbitkan 1,881,590,064 1,542,731,051

Amaun dibayar bagi unit yang dibatalkan (1,288,056,154) (1,121,858,095)

(Perbelanjaan)/Pendapatan Bersih (303,678,790) 773,685,586

Nilai dana pada akhir tahun 8,054,435,890 7,764,580,770

2014 2013

RM RM


Amaun diterima daripada unit yang diterbitkan 419,252,748 740,986,081

Amaun dibayar bagi unit yang dibatalkan (251,796,626) (415,862,377)

Lebihan Pendapatan berbanding Perbelanjaan 76,427,747 41,913,187


272PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Managed Fund


2014 2013

RM RM






2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 745,119,419 552,328,913




Nilai dana pada akhir tahun 870,619,126 745,119,419

273PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Equity Fund


2014 2013

RM RM






2014 2013

RM RM






274PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Managed Fund


2014 2013

RM RM






2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 1,477,243 931,052

Amaun diterima daripada unit yang diterbitkan 742,735 673,563

Amaun dibayar bagi unit yang dibatalkan (300,902) (263,223)

(Perbelanjaan)/Pendapatan Bersih (68,902) 135,851


275PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Education Bond Fund

PRUlink Dana Unggul

2014 2013

RM RM




Lebihan Pendapatan berbanding Perbelanjaan 81,205 28,426


2014 2013

RM RM






276PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Aman

PRUlink Dana Urus

2014 2013

RM RM






2014 2013

RM RM






277PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Urus II


2014 2013

RM RM




Lebihan Pendapatan berbanding Perbelanjaan 442,839 6,922,734


2014 2013

RM RM






278PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Asia Property Securities Fund


2014 2013

RM RM




Pendapatan/(Perbelanjaan) Bersih 4,070,540 (124,906)


2014 2013

RM RM




Pendapatan/(Perbelanjaan) Bersih 824,634 (116,342)


279PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Global Market Navigator Fund


2014 2013

RM RM






2014 2013

RM RM






280PRUlink funds




2014 2013

RM RM




Lebihan Pendapatan berbanding Perbelanjaan 2,782,459 400,771


2014 2013

RM RM


Amaun diterima daripada unit yang diterbitkan - -




281PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Commodity Allocator Fund


2014 2013

RM RM



Amaun dibayar bagi unit yang dibatalkan (908,770) (2,922,451)



2014 2013

RM RM






282PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth I Fund


2014 2013

RM RM


Amaun diterima daripada unit yang diterbitkan - 124,550




2014 2013

RM RM


Amaun diterima daripada unit yang diterbitkan - 124,550




283PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth III Fund


2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 183,079 176,868


Amaun dibayar bagi unit yang dibatalkan - -


Nilai dana pada akhir tahun 193,356 183,079

2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 138,902 132,604


Amaun dibayar bagi unit yang dibatalkan - -


Nilai dana pada akhir tahun 148,616 138,902

284PRUlink funds


Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Money Market Fund


2014 2013

RM RM






2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 711,360 -

Amaun diterima daripada unit yang diterbitkan 1,303,899 697,203



Nilai dana pada akhir tahun 1,897,745 711,360

285PRUlink funds

For the financial year ended 31 December 2014Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Bond Fund II

2014 2013

RM RM

Nilai Aset Bersih pada awal tahun 1,025,196 -





286PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Equity Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 259,726,952 262,538,746

Pendapatan faedah 16,166,627 21,359,919

Pendapatan dividen 243,560,325 241,178,827

Keuntungan Penjualan Sekuriti 108,560,819 95,943,496

Laba Modal Belum Terealisasi - 559,448,411

Jumlah Pendapatan 368,287,771 917,930,653

Yuran Pengurusan Pelaburan (119,746,442) (105,175,021)

Kerugian Modal Belum Terealisasi (526,525,163) -

Cukai (25,434,241) (38,893,643)

Perbelanjaan Lain (260,715) (176,403)

Jumlah Perbelanjaan (671,966,561) (144,245,067)


Pendapatan Dijana dihantar ke hadapan 3,582,755,980 2,809,070,394

Pendapatan Dijana dibawa ke hadapan 3,279,077,190 3,582,755,980

287PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Bond Fund

2014 2013

RM RM



Keuntungan Penjualan Sekuriti 776,809 1,349,213



Kerugian Modal Belum Terealisasi (11,916,906) (36,349,557)

Cukai (8,146,810) (5,208,518)




Pendapatan Dijana dihantar ke hadapan 345,195,292 303,282,105

Pendapatan Dijana dibawa ke hadapan 421,623,039 345,195,292

288PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Managed Fund

2014 2013

RM RM


Rebat Yuran 21,803,380 20,609,037










289PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Managed Fund II

2014 2013

RM RM


Rebat Yuran 10,493,468 8,195,926










290PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Equity Fund

2014 2013

RM RM


Rebat Yuran 3,907,423 3,179,293










291PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Bond Fund

2014 2013

RM RM


Rebat Yuran 3,225,548 2,599,029


Laba Modal Belum Terealisasi 18,763,900 6,521,937







292PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Golden Managed Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 1,260,973 971,086

Rebat Yuran 1,260,973 971,086

Keuntungan Penjualan Sekuriti 1,339,218 577,828

Laba Modal Belum Terealisasi 590,883 2,492,322


Yuran Pengurusan Pelaburan (1,254,647) (970,464)

Kerugian Penjualan Sekuriti (19,229) -

Jumlah Perbelanjaan (1,273,876) (970,464)


Pendapatan Dijana dihantar ke hadapan 3,811,419 740,647


293PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Education Equity Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 25,357 17,789

Rebat Yuran 25,357 17,789

Keuntungan Penjualan Sekuriti 30,704 27,588

Laba Modal Belum Terealisasi - 108,264

Jumlah Pendapatan 56,061 153,641

Yuran Pengurusan Pelaburan (25,358) (17,790)

Kerugian Modal Belum Terealisasi (99,605) -

Jumlah Perbelanjaan (124,963) (17,790)


Pendapatan Dijana dihantar ke hadapan 242,631 106,780

Pendapatan Dijana dibawa ke hadapan 173,729 242,631

294PRUlink funds


2014 2013

RM RM


Rebat Yuran 13,522 9,302


Laba Modal Belum Terealisasi 74,282 19,047







295PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Unggul

2014 2013

RM RM



Pendapatan dividen 22,487,280 19,447,407






Cukai (5,252,031) (5,722,985)






296PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Aman

2014 2013

RM RM






Kerugian Modal Belum Terealisasi (578,629) (2,660,856)

Cukai (426,374) (169,466)






297PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Urus

2014 2013

RM RM


Rebat Yuran 1,782,065 1,666,084










298PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dana Urus II

2014 2013

RM RM


Rebat Yuran 930,955 704,926






Jumlah Perbelanjaan (4,177,941) (710,244)




299PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Asia Managed Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 276,309 (855,718)

Pendapatan faedah 106 2,332

Lain-lain 276,203 (858,050)





Cukai (3,284,291) (177,828)

Perbelanjaan Lain (212) (1,035)





300PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Asia Property Securities Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 7,379 (48,209)

Pendapatan faedah 511 333

Lain-lain 6,868 (48,542)


Laba Modal Belum Terealisasi 4,572,513 -

Jumlah Pendapatan 4,994,623 484,047


Kerugian Modal Belum Terealisasi - (272,268)

Cukai (581,947) (7,909)

Perbelanjaan Lain (48) (157)


Pendapatan/(Perbelanjaan) Bersih 4,070,540 (124,906)



301PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Asia Local Bond Fund

2014 2013

RM RM



Lain-lain 33,185 1,361


Laba Modal Belum Terealisasi 850,378 -




Cukai (78,774) (2,038)




Pendapatan Dijana dihantar ke hadapan 886,419 1,002,761

Pendapatan Dijana dibawa ke hadapan 1,711,053 886,419

302PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Global Market Navigator Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 378 744


Keuntungan Penjualan Sekuriti 1,004,322 990,120

Laba Modal Belum Terealisasi 341,960 1,660,166



Cukai (238,383) (111,467)






303PRUlink funds

For the financial year ended 31 Disember 2014 PRUlink Dragon Peacock Fund

2014 2013

RM RM

Pendapatan Pelaburan Bersih 88,466 739


Lain-lain 88,055 -

Keuntungan Penjualan Sekuriti 156,249 -




Kerugian Penjualan Sekuriti - (6,173)

Cukai (255,255) (78,535)




Pendapatan/(Kerugian) Dijana dihantar ke hadapan 489,994 (984,671)


304PRUlink funds


2014 2013

RM RM

Pendapatan Pelaburan Bersih (2,773) (3,705)

Pendapatan faedah 1,695 1,464

Lain-lain (4,468) (5,169)

Laba Modal Belum Terealisasi 3,292,572 632,444

Keuntungan Penjualan Sekuriti - 35,638

Jumlah Pendapatan 3,289,799 664,377


Cukai (176,214) (14,947)



Lebihan Pendapatan berbanding Perbelanjaan 2,782,459 400,771

Pendapatan/(Kerugian) Dijana dihantar ke hadapan 210,573 (190,198)


305PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink MyOptimizer Fund

2014 2013

RM RM




Pendapatan Cukai - 22,776




Kerugian Penjualan Sekuriti (41,127) (312,469)

Cukai (40,069) -





306PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Commodity Allocator Fund

2014 2013

RM RM






Kerugian Penjualan Sekuriti - (41,087)

Cukai (137,497) (143,373)



Pendapatan/(Kerugian) Dijana dihantar ke hadapan 255,411 (1,357,620)


307PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Commodity Allocator II Fund

2014 2013

RM RM





Yuran Pengurusan Pelaburan - (522,321)


Kerugian Penjualan Sekuriti (4,575) (1,836)

Cukai (21,404) (17,373)



(Kerugian)/Pendapatan Dijana dihantar ke hadapan (40,386) 282,138

Pendapatan/(Kerugian) Dijana dibawa ke hadapan 202,413 (40,386)

308PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth I Fund

2014 2013

RM RM




Kerugian Penjualan Sekuriti - (280)

Cukai (8,785) (5,030)



Kerugian Dijana dihantar ke hadapan (89,963) (147,798)


309PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth II Fund

2014 2013

RM RM




Cukai (15,735) (9,553)





310PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth III Fund

2014 2013

RM RM



Cukai (894) (540)

Jumlah Perbelanjaan (894) (540)



Kerugian Dijana dibawa ke hadapan (2,362) (12,639)

311PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Dyna Growth IV Fund

2014 2013

RM RM



Cukai (845) (548)

Jumlah Perbelanjaan (845) (548)



Pendapatan/(Kerugian) Dijana dibawa ke hadapan 84 (9,630)

312PRUlink funds

Bagi tahun kewangan berakhir 31 Disember 2014 PRUlink Money Market Fund

2014 2013

RM RM




Yuran Pengurusan Pelaburan (11,091) -

Cukai (29,557) (21,477)

Perbelanjaan Lain (886) (1,060)





313PRUlink funds

For the financial year ended 31 Disember 2014 PRUlink Golden Equity Fund II

2014 2013

RM RM


Pendapatan faedah 2,482 616

Pendapatan dividen 32,097 3,269

Keuntungan Penjualan Sekuriti - 86

Laba Modal Belum Terealisasi - 19,371



Kerugian Penjualan (13,422) -

Kerugian Modal Belum Terealisasi (17,902) -




Pendapatan Dijana dihantar ke hadapan 19,926 -

Pendapatan Dijana dibawa ke hadapan 746 19,926

314PRUlink funds

For the financial year ended 31 Disember 2014 PRUlink Golden Bond Fund II

2014 2013

RM RM







Jumlah Perbelanjaan 18,484) (1,965)


Pendapatan Dijana dihantar ke hadapan 8,728 -


315PRUlink funds

1. Ringkasan Dasar Perakaunan Penting

a. Asas Perakaunan

Penyata kewangan telah disediakan menurut Garis Panduan Perniagaan Insurans/Takaful Berkaitan Pelaburan (BNM/RH/GL 010-15) yang dipinda oleh yang berikut bagi tujuan penentuan harga unit:

i. Pelaburan pada nilai pasaran dilaraskan untuk merangkumi kos pemerolehan masa depan.

Ini untuk memastikan penentuan harga unit yang saksama bagi pemegang unit yang masuk, keluar dan yang tinggal;

ii. peruntukan cukai tertunda ke atas laba atau kerugian yang belum direalisasikan menggunakan kadar yang dikira secara aktuari seperti yang ditunjukkan dalam jadual di bawah kecuali dana produk berstruktur yang menggunakan kadar berkanun 8%.

Lembaga Pengarah berpendapat bahawa oleh sebab laba atau kerugian ini akan hanya direalisasikan pada masa depan, maka kadar masing-masing di bawah telah digunakan untuk memastikan penentuan harga unit yang saksama bagi pemegang unit yang masuk, keluar dan yang tinggal dan bukannya kadar berkanun 8%.

Kadar cukai tertundak di atas hanya terpakai mulai 1 Jun 2014. Sebelum Jun 2014, kadar cukai tertunda ialah 4%.

Nama Dana Kadar Cukai Tertunda

PRUlink Equity Fund 6.0%

PRUlink Dana Unggul 7.0%

PRUlink Bond Fund 6.0%

PRUlink Dana Aman 6.0%

PRUlink Money Market fund 8.0%

PRUlink Asia Property Securities Fund 8.0%

PRUlink Asia Local Bond Fund 6.0%

PRUlink Global Market Navigator Fund 8.0%

PRUlink Dragon Peacock Fund 3.5%

PRUlink Asia Managed Fund 8.0%

PRUlink Education Bond Fund 5.0%

316PRUlink funds

b. Pelaburan

Pelaburan disebut harga dinilai pada harga penutup pasaran pada akhir tahun kewangan.

Saham/bon pinjaman tidak disebut harga dinilai pada harga semasa yang disebut oleh tiga institusi kewangan.

Laba atau kerugian belum terealisasi bersih dalam nilai pelaburan dikreditkan atau dicajkan ke Penyata Pendapatan dan Perbelanjaan.

c. Pendapatan Dividen

Pendapatan dividen diiktiraf apabila hak untuk menerima bayaran dapat ditentukan.

d. Pendapatan Faedah

Pendapatan faedah diiktiraf berasaskan akruan.

e. Laba/Kerugian Penjualan Pelaburan

Laba atau kerugian yang timbul daripada penjualan pelaburan dikreditkan atau dicajkan ke Penyata Pendapatan dan Perbelanjaan.

f. Yuran Pengurusan Pelaburan

g. Rebat Yuran Ini berkaitan dengan rebat yuran daripada Pengurus Dana bagi pelaburan yang dipegang dalam:

i. PRUlink Equity Fund dan PRUlink Bond Fund bagi PRUlink Managed Fund, PRUlink Managed Fund II, PRUlink Golden Equity Fund, PRUlink Golden Bond Fund, PRUlink Education Equity Fund dan PRUlink Education Bond Fund;

ii. PRUlink Dana Unggul dan PRUlink Dana Aman bagi PRUlink Dana Urus dan PRUlink Dana Urus II; dan

iii. PRUlink Golden Equity Fund dan PRUlink Golden Bond Fund bagi PRUlink Golden Managed Fund.

h. Tunai dan Kesetaraan Tunai

Tunai dan kesetaraan tunai terdiri daripada tunai dalam tangan dan baki dengan bank, termasuk deposit tetap dan panggilan.

317PRUlink funds

2. Perbelanjaan lain terdiri daripada caj bank dan caj penjaga.

3. Rebat dan Komisen Ringan

Sepertimana yang dikawal selia oleh Garis Panduan Suruhanjaya Sekuriti, syarikat pengurusan dana dilarang keras daripada menerima sebarang rebat yang

timbul daripada urus niaga atau pesanan bagi pihak pelanggan. Apa-apa rebat sedemikian yang diterima mestilah dimasukkan ke dalam akaun pelanggan

yang berkaitan. Walau bagaimanapun, syarikat pengurusan dana dibenarkan menerima komisen ringan yang timbul dairpada urus niaga atau pesanan

bagi pihak pelanggan asalkan, setelah mendapat kebenaran terlebih dahulu daripada pelanggan, barang dan perkhidmatan yang diterima itu adalah dalam

bentuk perkhidmatan penyelidikan dan nasihat yang akan membantu dalam proses membuat keputusan yang berkaitan dengan pelaburan pelanggan dan

akhirnya terbukti memberi manfaat kepada pelanggan.

4. Pada 31 Disember 2014, Dana-dana ini tidak mempunyai liabiliti atau komitmen luar jangka.

5. Semua amaun dinyatakan dalam Ringgit Malaysia.

318PRUlink funds

Prudential Assurance Malaysia Berhad (107655-U)

Level 17, Menara Prudential, 10 Jalan Sultan Ismail, 50250 Kuala Lumpur, Malaysia.Tel: (03) 2116 0228 Fax: (03) 2032 3939 Email: [email protected]

www.prudential.com.my

prulink funds - prudential malaysia funds report and statement of the manager for the year ended 31...

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