Philam Asset Management, Inc.

(PAMI) administers, distributes

and provides investment advisory to seven (7) mutual funds.
PAMI gives shareholders superior yields through active
management, diversification and investment expertise only
organizations with extensive financial muscle can provide.

Philam Strategic Growth Fund, Inc. (PSGF)

April 16, 2010

Historical Performance Investment Objective

YTD YOY 3 Yrs. 5 Yrs. Since Inception The investment objective of the Fund is capital growth with returns and inflows
derived out of investments in equity securities. PSGF considers a medium to
13.86% 54.34% 11.61% 96.90% 252.88% long-term investment horizon for its shareholders. The Fund will be positioned
to compete directly with other full equity mutual funds and equity UITFs offered
by commercial banks.
NAVPS Graph
Top Ten Holdings
340.00

COMPANY PERCENTAGE
315.00
PHIL LONG DISTANCE TEL. CO. 9.30%
AYALA LAND INC 7.35%
290.00
ABOITIZ POWER CORPORATION LIMITED 7.08%
265.00 ENERGY DEVELOPMENT CORP 6.89%
SM INVESTMENTS CORPORATION 6.665
240.00
ALLIANCE GLOBAL GROUP INC 6.04%

215.00
ICTS, INC. 5.68%
BANCO DE ORO - EPCI. INC 5.30%
190.00 METROBANK 4.68%
1 6 -Ap r -0 9 1 6 -Ju n-0 9 1 6 -Au g -0 9 1 6 -O c t -0 9 1 6 -D e c -0 9 1 6 -F e b-1 0 1 6 -Ap r -1 0
FIRST PHILIPPINE HOLDINGS CORP 4.11%
Source: Investment Company of the Philippines published NAVPS
* Past Performance is not indicative of future results Sector and Fund Allocation

Commentary REAL ESTA TE 16.67%

Market pauses from its prior week’s rally to close 3265.54 (+0.30%WoW) or up B ANKS 13.80%

9.8pts. Daily average volume was lower at US$83m compared to prior weeks’ TELECOM M 11.60%

us$93m. CONGLOM ERA TES 7.98%

Fixed
ELEC P OWER&GA S 7.08%
Positive economic and corporate news flows continued to support the index as Income,
ELEC OTHER 6.89%
it hovered around 3299 level for most of the week before investors decided to 10.95%

take profits. FINA NCE 6.66%

M ANUFA CTURING 6.04%

GLO (-4.9%WoW) dropped after the company managed investor’s expectation TRA NS OTHER 5.68%
that competition in the telecom industry will limit topline growth. On the other Equity,
WATER 5.55%
hand, TEL (+0.8WoW) gained on news that its broadband division is working on 89.05%
delivering strong growth over the next two years. Market’s perception clearly
played a role on the telecom stocks. Both GLO and TEL are experiencing tight
competition and both are also spending heavily to grow its broadband division, Key Figures
but the tone of the news flow from each company affected investor’s Net Asset Value per Share (NAVPS) PHP 363.09
preference. Total Fund Size (in Millions) as of 3/31/10 PHP 2,871.35
PSGF YOY return as of 3/31/10 53.57%
In the economic front, OFW remittances continued to post growth of 7.1% for Benchmark YOY return as of 3/31/10 51.88%
the month of February ( 8.5% in January). Port operator, ICT (+7.1%WoW)
gained on news that February exports was up by 42.3% YoY (42.5% in Inception Date June 23, 1998
January). Moreover, despite last year’s slowdown in export which affected port Fund Currency Philippine Peso
operations, management has decided to maintain regular dividend payout this Domicile Philippines
year. The improvement in bank’s NPL ratio to 3.18% in February (3.22% in Valuation Method Marked-to-Market
January) helped sustain gains from banking stocks MBT (+2%WoW) and BDO Fund Classification Equity Fund
(+1%WoW). Risk Profile High
Minimum Holding Period Six Months
Expect market to continue its consolidation phase as investors become Redemption Notice Period Three Days
cautious with the coming election. Base-building at this level is healthy as the Custodian Bank Citibank N.A.
market gears up for a stronger uptrend. Transfer Agent Deutsche Bank A.G. (Manila)

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Risk Warning: Past performance is not indicative of future results. Our investment management services relate to a variety of investments, each of which can fluctuate in value. The
value of portfolios we manage may fall as well as rise, and the investor may not get back the full amount originally invested. The investment risks vary between different types of
instruments. For example, for investments involving exposure to a currency other than that in which the portfolio is denominated, changes in the rate of exchange may cause the
value of investments, and consequently the value of the portfolio, to go up or down. In the case of a higher volatility portfolio the loss on realization or cancellation may be very high
(including total loss of investment), as the value of such an investment may fall suddenly and substantially. In making an investment decision, prospective investors must rely on their
own examination of the merits and risks involved.