Thursday, August 28, 2014

Public Mutual declares RM437m in distributions

TheStar
KUALA LUMPUR: Public Mutual has declared gross distributions totalling RM437mil for 10 of its funds for the financial period ending July 31, 2014.
Public Mutual, which is a unit of Public Bank, said on Thursday the gross distribution per unit for Public Growth Fund was 3.25 sen while for the Public Optimal Growth Fund and Public Far-East Property & Resorts Fund it was 2.5 sen per unit.
As for Public Australia Equity Fund, it was 2.0 sen per unit, Public Islamic Opportunities Fund (3.0 sen), Public Islamic Select Enterprises Fund (2.50 sen) and Public Bond Fund (5.50 sen).
Public Mutual said for the three funds -- Public Islamic Select Bond Fund, Public Islamic Income Fund and PBB MTN Fund 1 -- the gross distribution was 4.0 sen per unit for each of the fund.
Public Mutual has more than 90 unit trust funds under management and over three million account holders.
As at end-June 2014, the total net asset value of the funds managed by the company was RM64.20bil.

Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.

TA’s unit to buy Trump Hotel for RM294 million

NST Press
KUALA LUMPUR: TA Global Bhd's unit, Maxfine International Ltd, is proposing to acquire the Trump International Hotel and Tower in Canada for RM293.71 million, cash.
In a filing to Bursa Malaysia, the company said the purchase consideration would be funded by external borrowings and internally-generated funds.
"The purposed acquisition is expected to bring synergy to the group and
further enhance its hospitality in major cities around the world," it said.
Baring unforeseen circumstances, the company said the acquisition process would be completed in June 2016. -- BERNAMA

Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.

Friday, December 4, 2009

ING Funds doing well, one of the 23 giving 30% returns

TheStar

KUALA LUMPUR: ING Funds Bhd says most of its 23 funds performed well this year, with one paying out as much as 30 per cent returns a year despite the sluggish economic climate.

The funds under management now are worth RM3.4 billion, higher than last year's RM2.7 billion, said CEO Datuk Steve Ong to reporters on the sidelines of the two-day 14th Malaysian Capital Market Summit 2009 which began yesterday.

ING Funds is the Malaysian affiliate of ING Investment Management, the investment arm of the ING Group.

Launched in 2004, ING Funds had become one of the fast-growing private unit trust management companies.

Ong said the "appetite" for unit trust schemes was still there despite the projected slower pace of economic recovery next year.

"Demand is huge out there, but it is subject to investors' needs whether it is for wealth, education or even retirement," he said.

Ong said there was ample liquidity in the financial system to be tapped, namely the massive Employees Provident Fund and bank deposits.

"Even in post-retirement, retirees need someone to manage his or her money properly, if not their money will be gone in just two or three years if it is spent freely," he said.

Next year, besides offering new products, the company planned to focus more on unitholders in managing their investments.

"We will assist them in managing their investments so that they will know the progress of their investments.

"We may give them more fund choices to help them re-balance their position at any economic situation," he added. - Bernama

Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.

Wednesday, August 26, 2009

Asset managers: Further upheavals expected within next decade

TheEdge

KUALA LUMPUR: The worst of the current economic crisis may be over in 2010 but asset managers have not ruled out further upheavals within the next decade.

According to a survey on 225 asset managers in 30 countries carried out by Principal Global Investors, most respondents do not rule out more systemic crises in the next decade. It said the scale of recent economic stimulus in G20 countries was expected to stoke inflation.

“We are not completely out of the credit crunch yet. Getting credit going is the key initiative for central banks for the next year. They have been flooding the market with liquidity in hope of getting credit moving again.

“But a lot of times, this is just simply liquidity. It is not generating new credit. And there is recognition that credit is a necessary evil in the economy,” COO of Principal Global Investors Barbara McKenzie said at a CIMB Principal Asset Management Bhd media briefing yesterday.

She added that until the market could get back on its feet again, it would continue to need access to credit and thus more government aid.

NEW CREDIT NEEDED TO FUEL ECONOMY... Markets need access to credit until they get back on their feet again, says Principal Global Investors COO Barbara McKenzie (right) at CIMB-Principal Asset Management Bhd media briefing in Kuala Lumpur yesterday. Also present were CIMB-Principal Asset Management chief executive Datuk Noripah Kamso (left) and Principal Global Investors (S) Ltd MD for Asia ex Japan Kirk West. Photo by Suhaimi Yusuf

The survey also found that 45% of its respondents did not expect the worst of the crisis to be over till the first half of next year while 25% expected it to be even later.

The 225 asset managers and pension funds surveyed were responsible for collective assets worth US$18.2 trillion (RM63.9 trillion) as at April 2009.

“We are now primarily driven by retail industries locally, significant fiscal stimulus and low interest rates. All these will naturally fade.

“However, the stimulus will eventually have to be removed and the key timing to withdraw this stimulus and how it is removed are important to consider as we are juggling between growth and potential inflation.

“But that will be in the second half of 2010,” Principal Global Investors (S) Ltd managing director for Asia ex Japan, Kirk West said.

On the survey findings, West added that although it was carried out during “the eye of the storm”, the results could be used to study investor behaviour moving forward.

“People have lost confidence in a lot of the longer-term growth assets. The whole concept of equity risk premium has made people feel uncomfortable. They will now be looking at increased liquidity.

“Several things eroded investor confidence during the crisis, especially the fact that diversification of assets hasn’t worked in the short term because of deleveraging. Going forward, however, we still believe in diversification,” said West.

He added that asset managers also expected further regulatory pressures to intensify over the next three years which may result in fee compression.

Consequently, West said a majority of firms had shown a significant revenue decline of 35%.

“One of the key issues we’ve seen in the last 12 months is compensation within the finance industry. We expect one outcome will be greater alignment in terms of compensation. So, maybe people will have lower fixed compensation, and a higher component of variable compensation and this will be more aligned with the performance of the underlying funds,” he said.

McKenzie said there was already a movement of money away from some of the traditional hedge funds centre that had light regulations to other offshore jurisdictions with higher regulatory standard as investors started understanding a need for greater regulation post crisis.

Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.

Singapore's UOB Asset, India's UTI in funds tie-up

BusinessTimes

SINGAPORE: Singapore's United Overseas Bank (UOB) said yesterday its fund management arm has formed an alliance with a unit of India's UTI Asset Management to jointly launch and distribute mutual funds.

"The first initiative of the alliance is an equity fund that both parties have jointly developed," UOB Asset Management (UOBAM) said in a statement.

"The features of the fund will be announced at a later date."

UOBAM manages about S$13.5 billion (S$1 = RM2.44) in assets and has business operations in Singapore, Brunei, Japan, Malaysia, Taiwan and Thailand.

Its partner UTI International (Singapore) is a joint venture involving India's largest mutual fund company UTI, Shinsei Investments and another company.

UTI manages around US$15 billion (US$1 = RM3.51) and its funds are distributed in 450 of India's 620 districts, UOBAM said. - Reuters

Disclaimer: Reading materials in this site are obtained from its respective website and it is for information purposes only. It is not Malaysia Unit Trusts - administrator view and it is not to be used against Malaysia Unit Trusts - administrator.