NAVPS = (Total Assets – Total Liabilities) ÷ Number of Shares Outstanding, using mark-to-market valuation (per PAS No. 39), computed daily by the Fund Administrator.
Added: portfolio securities & other assets, cash on hand, accrued interest, market/currency revaluation. Subtracted: taxes/charges not yet deducted, accrued expenses/fees, cash already earmarked for distribution.
- Board decides amount/timing based on unrestricted retained earnings, profits, cash flow, and financial condition.
- Cash/property dividends: Board approval only.
- Stock dividends: need Board + 2/3 stockholder approval.
- Automatic reinvestment option available (no sales charge) or cash payout (net of 10% final withholding tax).
| Date | NAVPS |
|---|---|
| Sept 30, 2017 | Php1.007 |
| Dec 31, 2017 | Php1.005 (also cited as Php1.017 in MD&A) |
| Sept 30, 2018 | Php0.8807 |
- Total Assets: Php348.1M (from Php248.7M) — up ~40%
- Net Assets/Equity: Php343.6M (from Php319.1M)
- Net Income (9 months to Sept 2018): Php2.07M (vs. a Php1.4M net loss in FY2017)
- NAVPS fell ~14% during Q3 2018, attributed to trade-conflict concerns, domestic inflation, and U.S. Federal Reserve rate moves
- Total sales for the period: Php25.7M (vs. Php14.6M same period prior year)
- Redemptions: Php330,283.69 (vs. none in the same period the year before)
As of Sept 30, 2018, the Philippine mutual fund industry had 61 active funds with a combined NAV of ~Php263 billion. CSCEIF’s direct competitors (equity mutual funds) totaled ~Php104 billion with an average investment size of Php556,000.
Note: this section reflects figures as of the 2019 prospectus. For current NAVPS/returns, always check the Fund’s latest published daily NAVPS.
