TheEdge
KUALA LUMPUR: AmInvestment Bank Group’s funds management division has declared income distributions for its AmConservative and AmGlobal Property Equities Fund amounting to RM7.1 million for its 2,064 unit holders.
It announced yesterday the interim income distribution for AmConservative was 1.50 sen per unit for the mid-year ending April 30, 2008. This was a yield of 2.9% for six months investment return based on the net asset value (NAV) per unit of 51.41 sen as at April 30, 2007 or an annualised distribution yield of 5.9%. AmConservative’s objective is to preserve capital and it has a bigger exposure to fixed income investments than equities.
AmGlobal Property Equities Fund, Malaysia’s first feeder fund and also the first global property equity fund, recorded a final income distribution of 4.0 sen per unit for the year ended Nov 30, 2007.
The distribution was a yield of 3.2% investment return based on the NAV per unit of RM1.2691 as at Nov 30, 2006.
AmGlobal Property Equities Fund is a capital growth and income fund and invests in the quoted equity securities of companies or Real Estate Investment Trusts listed or traded on a regulated market which derive the main part of their revenue from the ownership, management and/or development of real estate throughout the world.
The target fund is managed by Henderson Global Investors Limited.
Both funds have outperformed their respective benchmarks as at Oct 31, 2007.
The funds management division’s chief executive officer Datin Maznah Mahbob said AmConservative delivered a one year return of 13.40% outperforming its benchmark by 3.47%.
AmGlobal Property Equities Fund delivered 8.28% for its one year return as at Sept 30, 2007.
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