Eastspring IDX ESG Leaders Plus Kelas A

Portfolio performance in 3Q24 recorded an increase of +2.38%, below the benchmark performance of -371 bps. High portfolio turnover caused its performance to be lower than the benchmark. On sectoral, consumer discretionary, industrial and real estate were the three sectors that have the largest negative total effect on portfolio performance.

Eastspring IDX ESG Leaders Plus is an index mutual fund that provides investors with access to the IDX ESG Leaders benchmark which has a high allocation to sectors with good ESG scores, reflected in the three main sectors, namely finance, materials and communication services. 4 major banks (BBCA, BBRI, BMRI, BBNI) along with GoTo Gojek Tokopedia (GOTO) are the largest weights in the IDX ESG Leaders benchmark. Chandra Asri Pacific (TPIA) shares were removed from the IDX ESG Leaders benchmark in September.

Eastspring Investment Cash Reserve Kelas A

Portfolio performance in 3Q24 recorded an increase of +0.89%, posting a performance of +14 bps above the benchmark. The largest positive contribution came from exposure to money market instruments, both corporate and government, which provided stable and relatively higher performance compared to deposit.

Eastspring Investments Alpha Navigator Kelas A

Portfolio performance in 3Q24 recorded an increase of +10.36%, above the benchmark performance by 378 bps. The material, utilities, and consumer staples sectors were the three sectors that provided the largest positive total effect on portfolio performance. Good stock selection as reflected in the selection effect was the main contributor to good performance.

Selective positioning in key domestic sectors such as banking, consumer, and communication services. Addition of large-cap and defensive sectors such as consumer staples and healthcare during 3Q24. Positive sentiment towards the Indonesian stock market is expected to be increasingly felt along with the establishment of pro-growth monetary and fiscal policies, foreign portfolio inflows amid the Fed Funds Rate cut cycle, and improving liquidity that has the potential to encourage a re-rating of the Indonesian stock market valuation.

Eastspring Investments IDR High Grade Kelas A

Portfolio performance in 3Q24 recorded an increase of +4.10%, posting a performance of +36 bps above the benchmark. Allocations to bonds with tenors of 1-3 years and 7-10 years were the largest positive contributors to portfolio performance.

The interest rate cut cycle will have a positive impact on the Indonesian bond market. Stable economic growth, low inflation, stable debt ratings, attractive yield, and the stability of the Rupiah exchange rate are supporting factors that can attract funds to the Indonesian bond market. Portfolios are managed tactically by taking advantage of every opportunity to build positions. The yield curve is expected to steepen as the shift from SRBI to short-term government bonds continues, based on the assessment short- to medium-term bonds offering attractive yields.

Eastspring Investments Value Discovery Kelas A

Portfolio performance in 3Q24 recorded an increase of +8.91%, above the benchmark performance by 234 bps. Material, utilities, and consumer staples sectors were the three sectors that gave the largest positive total effect on portfolio performance. Good stock selection as reflected in stock selection was the main contributor to good performance.

Focus on large-cap companies with high liquidity. Selectively position portfolio in key domestic sectors such as banking, consumer, and communication services, and increase exposure to commodities, especially in the energy sector. Positive sentiment towards the Indonesian stock market is expected to be increasingly felt along with the establishment of pro-growth monetary and fiscal policies, foreign portfolio inflows amid the Fed Funds Rate cut cycle, and improving liquidity that has the potential to encourage a re-rating of the Indonesian stock market valuation

Eastspring Investments Yield Discovery Kelas A

Portfolio performance in 3Q24 recorded an increase of +2.91%, posting a performance of +6 bps above the benchmark. Allocation to bonds with tenors of 1-3 years and 3-5 years was the largest positive contributor to portfolio performance.

The yield curve is expected to steepen as the shift from SRBI to short-term government bonds continues, making short-term bonds more attractive. Active management through duration management is expected to support portfolio performance this year.