Aberdeen Select Portfolio – February 2021

Aberdeen Standard Indonesia Equity Fund

Performance Data and Analytics to 31 January 2021

Fund objective Top ten holdings (%)

Aims to provide holders with medium to long-term capital growth from a portfolio of Bank Central Asia 13.8
Indonesian equities. Bank Rakyat Indo 9.4
Key information Telekom Indonesia 8.7
Bank Mandiri Persero 7.5
Fund included under2 CPFIS-OA1/SRS Switching fee 1.0% Sepatu Bata 6.1
Inception date 5 Dec 1997 Management fee 1.5% p.a Bank OCBC NISP 4.0
Benchmark Jakarta Composite Min. investment S$1,000/ Astra International 3.7
US$1,500 Ciputra Development 3.0
Monthly investment S$100 min. Min. subsequent S$100/ US$1,500 Indocement 2.9
plan2 investment United Tractors 2.9
Front end load 5.0% (Cash/SRS) Fund size S$63.1m Total 62.0
0% (CPFIS-OA)3 Sector allocation (%)
Performance Finance 38.4
Percentage Growth Total Return (05/12/1997 - 31/01/2021) Infrastructure, Utility &
Transportation 12.1
750 Miscellaneous Industries 9.7
600 Consumer Goods 9.3
450 Construction , Property & Real
581.6 Estate 8.1
300 420.2 Trade, Services & Investment 5.7
394.1 Basic Industry & Chemicals 5.2
150
Agricultural 2.7
0
Mining 2.7
-150 Cash 6.1
Total 100.0
1997

1999

2001

2003

2005

2007

2009

2011

2013

2015

2017

2019
2021

Figures may not always sum to 100 due

to rounding.
Fund NAV to NAV Fund (Charges applied)4 Benchmark5

Performance (%)
SGD Cumulative Annualised
1 mth 3 mths 1 yr 3 yrs Incep. 3 yrs Incep.
Fund NAV to NAV -3.3 11.9 -6.2 -10.9 420.2 -3.8 7.4
Fund (Charges applied)4 -8.1 6.3 -10.9 -15.3 394.1 -5.4 7.1
Benchmark5 -1.4 16.0 -4.0 -7.5 581.6 -2.6 8.6
USD6 Cumulative Annualised
1 mth 3 mths 1 yr 3 yrs Incep. 3 yrs Incep.
Fund NAV to NAV -3.6 14.5 -3.6 -12.1 351.4 -4.2 9.5
Fund (Charges applied)4 -8.4 8.8 -8.4 -16.5 328.8 -5.8 9.1
Benchmark5 -1.8 19.4 -1.3 -8.8 711.7 -3.0 13.4
Source: Lipper, percentage growth, gross income reinvested.
1
Higher Risk - Narrowly Focused (Country - Others).
2
S$ Class only.
3
With effect from 1 Oct 20.
4
Includes the effect of an assumed 5% front end load, which the investor might or
might not pay. NAV to NAV figures are a better reflection of underlying investment
performance.
5
Benchmark is Jakarta Composite Index TR.
6
Fund available for US$ investment since 1 Jun 04.

Important information overleaf

Fund manager's report on page 2 Page 1 of 2

 Aberdeen Select Portfolio – February 2021

Aberdeen Standard Indonesia Equity Fund

Performance Data and Analytics to 31 January 2021

Prices over past 12 months Risk statistics

Highest NAV Lowest NAV 3 yrs
SGD $5.4377 (20/01/2021) $3.3115 (24/03/2020) Beta 0.83
USD $4.7247 (20/01/2021) $2.6224 (23/03/2020) Standard Deviation 21.03
Sharpe Ratio -0.14
Fund manager's report
l
Indonesian equities fell in January after stricter social-distancing measures were re- Codes
imposed in several parts of the country. Despite the rollout of Covid-19 vaccines, daily UK Sedol number 6156929
cases of Covid-19 infections hit new highs. ISIN code SGD - SG9999000426
USD - SG9999001887
l
Bank Indonesia held interest rates amid subdued inflation but kept its accommodative
Bloomberg ticker SGD - ABINDOI SP
stance to support the economy.
USD - ABINDOU SP
l
We exited Selamat Sempurna, Arwana Citramulia, Medikaloka Hermina, Ultrajaya Milk, Note: The Fund is an open-ended sub-
and Metrodata Electronics to improve the portfolio’s liquidity. Similarly, we pared Bank fund under the Aberdeen Standard
OCBC NISP and MP Evans. Select Portfolio. All non-performance
data is sourced from Aberdeen Standard
l
Meanwhile, we took profits from food & beverage company Mayora Indah and coal Investments (Asia) Limited with gross risk
miner Adaro Energy on good share price performance. We also reduced others that statistics also from BPSS, Datastream.
could remain hurt by the pandemic. These included taxi operator Blue Bird that
could suffer from more stringent mobility restrictions, and cosmetic maker Mandom
Indonesia on weak fundamentals, as tourism remained sluggish. Against this, we topped
up Bank BTPN Syariah given attractive valuation and good fundamentals, Kalbe Farma
as it is likely to benefit from the Covid-19 vaccine rollout, Telkom Indonesia on easing
competition along with a better valuation; and cement maker Indocement, given that it
could profit from the government’s infrastructure investment plans.

_____________________________________________________________________________________________________________________________________________

Important information

The information in this document should not be considered an offer, or solicitation, to

deal in any funds in the Aberdeen Standard Select Portfolio. The information is provided
on a general basis for information purposes only, and is not to be relied on as investment,
legal, tax or other advice as it does not take into account the investment objectives,
financial situation or particular needs of any specific investor.
The CPF interest rate for the Ordinary Account (‘OA’) is based on the legislated minimum
interest of 2.5% per annum, or the 3-month average of major local banks’ interest rates,
whichever is higher. In addition, the CPF Board pays an extra interest rate of 1% per
annum on the first $60,000 of a CPF member’s combined balances (with up to $20,000
in the OA). CPF members aged 55 and above will also earn an additional 1% extra interest
on the first $30,000 of their combined balances (with up to $20,000 in the OA). This is
paid over and above the current extra 1% interest that is earned on the first $60,000 of
their combined balance. The first $20,000 in the OA will not be allowed to be invested
under the CPF Investment Scheme.
Investments in the fund(s) are not deposits in, obligations of, or guaranteed or insured by
Aberdeen Standard Investments (Asia) Limited (‘ASI Asia’), and are subject to investment For more information
risks, including the possible loss of the principal amount invested. Unit values and income Phone 1800 395 2709
therefrom may fall or rise. Past performance is not necessarily indicative of future
performance. Investors should read the prospectus and the product highlights sheet or Fax 6632 2993
A copy of the prospectus is available from
seek relevant professional advice, before making any investment decision.
www.aberdeenstandard.com/singapore/
The fund(s) as well as their underlying fund(s) may use or invest in financial
derivative instruments. Please refer to the prospectus of the Aberdeen Standard investor or from:
Select Portfolio fund(s) for more information. Aberdeen Standard Investments (Asia)
The above is based on information available as at 31/01/2021, unless otherwise stated. ASI Limited
Asia reserves the right to make any amendments to the information at any time, without 21 Church Street #01-01
notice.
Capital Square Two
This advertisement has not been reviewed by the Monetary Authority of Singapore.
Singapore 049480
Aberdeen Standard Investments (Asia) Limited, Registration Number 199105448E
Page 2 of 2