BusinessTimes
INVESTORS should be prepared for unforeseen shocks that could substantially threaten the robustness of the global economy in 2008, HwangDBS Investment Management Bhd (HwangDBS IM) chief executive officer and executive director Teng Chee Wai said.
He said the stage should be set for a weak US dollar to continue into next year, although he believes the Malaysian economy will be able to withstand external shocks including a recession in the US.
In a statement, Teng said the recent financial crisis has the potential to be a blessing in disguise for Asia and may present an opportunity for the region to showcase its resilience.
A dampened US economic outlook should increase the urgency within Asia to step up efforts to shift its growth dependency away from external demand, and to steer fiscal/monetary policies towards boosting demand.
This process should be facilitated by orderly adjustments in their undervalued currencies, stronger balance of payments and improved international liquidity positions. "With the US consumer encumbered by mortgage financing woes, the rise of the Asian consumer should attract the attention of foreign investors.
At the country level, it is the countries where domestic demand has been strongest - such as Singapore and Malaysia - where there has been the largest disconnect between the earnings cycle and the US economic cycle," he said.
HwangDBS IM recently launched its first performance-based fund, the HwangDBS Ascendur RIS 1 (HARIS1). Targeted at the mass affluent, the unique features of the fund are the lower sales charge or front-end fees of a maximum charge of two per cent as opposed to the four to six per cent characteristic of equity unit trust funds, as well as the performance attribute which allows the manager to levy a performance fee if HARIS1 exceeds the pre-determined minimum return benchmark at eight per cent per annum.
The launch of HARIS1 represents HwangDBS IM's eighth fund for 2007.Teng said the unique features challenge market convention but are necessary in the increasingly competitive marketplace.
"Managing absolute return mandates or funds is nothing new to HwangDBS IM. When we started out in 2001, it was a surprise to the industry when we set an absolute performance benchmark and included a fee on the performance as an incentive for the manager, in the event of positive performance."
Since then, such features have become more common but somewhat limited to the management of discretionary mandates. Our main objective in bringing such a fund to the local market is to plug the gap between the mass retail and such services by introducing a product targeted specifically at the mass affluent but with elements of a discretionary mandate.
"At the same time we aim to ensure that investors are able to potentially reap more meaningful returns because of the lower fees," Teng said.
HARIS1 will primarily invest in equity securities of developed and emerging markets globally. It may also invest in fixed income securities of developed markets or debt instruments.
HARIS1 has an approved size of 200 million units priced at RM0.50 per unit. The minimum initial investment sum is set at RM500,000 and the minimum additional investment is RM100,000. HARIS1 is a mixed securities and growth type fund targeted at medium to long-term investors who are risk tolerant and are seeking higher capital returns on their investments.
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, December 26, 2007
CIMB Bank launches Rebound FRIND fund
TheEdge
KUALA LUMPUR: CIMB Investment Bank Bhd has launched a floating rate negotiable instrument of deposit fund (FRNID) that enables investors to benefit from the potential rebound of four global banking giants whose share prices have been negatively impacted by the recent US subprime crisis.
In a statement, the bank said the Rebound FRIND fund would guarantee investors a fixed return of 15% on a two-year investment, 23% on a three-year investment and 45% on a five-year investment, provided the equity basket exceeded a return of 25% at maturity.
“This product affirms CIMB Bank’s ability to capitalise on global market developments and provide our customers access to these investment opportunities in a timely manner when such opportunities are usually only available to large global investors,” said CIMB’s group treasurer Lee K Kwan.
The bank said the performance of the Rebound FRNID would be determined by the share prices of the four banks, Citigroup, Merrill Lynch & Co, UBS AG and Morgan Stanley, which had declined by more than 30% since the onset of the US subprime crisis and the rout in global credit markets.
It said the decline had created opportunities and resulted in sizeable investments by sovereign wealth funds such as the Abu Dhabi Investment Authority, Government of Singapore Investment Corp and China Investment Corp into this sector.
CIMB Bank also said the Rebound FRNID came with its assurance of liquidity that allowed investors to cash out their capital gains prior to the maturity of the investment, especially in the event the share prices of these four global banks recovered rapidly from their current lows.
It said investors were also assured that if the investment did not perform, the principal was guaranteed by the bank at maturity.
The Rebound FRNID is available at all CIMB Bank branches and CIMB Private Banking from Dec 23, 2007 to Jan 7, 2008.
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.
KUALA LUMPUR: CIMB Investment Bank Bhd has launched a floating rate negotiable instrument of deposit fund (FRNID) that enables investors to benefit from the potential rebound of four global banking giants whose share prices have been negatively impacted by the recent US subprime crisis.
In a statement, the bank said the Rebound FRIND fund would guarantee investors a fixed return of 15% on a two-year investment, 23% on a three-year investment and 45% on a five-year investment, provided the equity basket exceeded a return of 25% at maturity.
“This product affirms CIMB Bank’s ability to capitalise on global market developments and provide our customers access to these investment opportunities in a timely manner when such opportunities are usually only available to large global investors,” said CIMB’s group treasurer Lee K Kwan.
The bank said the performance of the Rebound FRNID would be determined by the share prices of the four banks, Citigroup, Merrill Lynch & Co, UBS AG and Morgan Stanley, which had declined by more than 30% since the onset of the US subprime crisis and the rout in global credit markets.
It said the decline had created opportunities and resulted in sizeable investments by sovereign wealth funds such as the Abu Dhabi Investment Authority, Government of Singapore Investment Corp and China Investment Corp into this sector.
CIMB Bank also said the Rebound FRNID came with its assurance of liquidity that allowed investors to cash out their capital gains prior to the maturity of the investment, especially in the event the share prices of these four global banks recovered rapidly from their current lows.
It said investors were also assured that if the investment did not perform, the principal was guaranteed by the bank at maturity.
The Rebound FRNID is available at all CIMB Bank branches and CIMB Private Banking from Dec 23, 2007 to Jan 7, 2008.
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, December 19, 2007
OSK-UOB raises Big Cap China fund size
TheEdge
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd has increased the fund size of its newly launched OSK-UOB Big Cap China Enterprise Fund to 600 million units of 50 sen each from 400 million units.
In a statement yesterday, the company said the fund was still in its initial offer period which would end on Dec 23, 2007.
It said the increase in fund size was due to the brisk sales recorded during the first two weeks of the offer period and it expected the strong pace to continue till the end of the offer period.
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.
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd has increased the fund size of its newly launched OSK-UOB Big Cap China Enterprise Fund to 600 million units of 50 sen each from 400 million units.
In a statement yesterday, the company said the fund was still in its initial offer period which would end on Dec 23, 2007.
It said the increase in fund size was due to the brisk sales recorded during the first two weeks of the offer period and it expected the strong pace to continue till the end of the offer period.
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.
Tuesday, December 18, 2007
Public Bank launches Asia real estate fund
TheStar
KUALA LUMPUR: Public Bank will launch its first Asia real estate fund today, offering investors the chance to participate in the growth prospects of Asia's property sector and real estate investment trusts (REITs).
The PB Asia Real Estate Income Fund (PBAREIF) will invest in companies that are principally engaged in property, hotel and resorts investment and development and REITs in domestic and regional markets to provide capital growth for the fund.
“It is an actively-managed balanced fund which seeks to meet its objective of achieving capital growth and income in the medium to long-term period by adhering to a balanced asset allocation with up to 60% of its net asset value (NAV) in equities and REITs,” said Tan Sri Teh Hong Piow, chairman of Public Mutual, which is managing the fund.
“Up to 60% of the fund's NAV can be invested in selected regional markets which include Japan, Australia, South Korea, Taiwan, China, Hong Kong, New Zealand, Singapore, Thailand, the Philippines, Indonesia and other approved markets,” he said in a statement yesterday.
Teh said to help generate interest income, the balance of the fund's NAV would be invested in domestic fixed income securities, such as sovereign bonds, corporate debt and money market instruments.
PBAREIF was suitable for conservative to moderate investors with a preference for regular income and a respectable level of capital growth, he said.
During the 21-day initial offer period from Dec 18, 2007, to Jan 7, 2008, the issue price/NAV of PBAREIF is at 25 sen per unit with a promotional service charge of 5.45% of NAV per unit.
Investors who opt for direct debit instruction with PBAREIF during the offer period will also enjoy the special promotional service charge of 5.45% of NAV per unit for as long as the direct debit is active. – 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.
KUALA LUMPUR: Public Bank will launch its first Asia real estate fund today, offering investors the chance to participate in the growth prospects of Asia's property sector and real estate investment trusts (REITs).
The PB Asia Real Estate Income Fund (PBAREIF) will invest in companies that are principally engaged in property, hotel and resorts investment and development and REITs in domestic and regional markets to provide capital growth for the fund.
“It is an actively-managed balanced fund which seeks to meet its objective of achieving capital growth and income in the medium to long-term period by adhering to a balanced asset allocation with up to 60% of its net asset value (NAV) in equities and REITs,” said Tan Sri Teh Hong Piow, chairman of Public Mutual, which is managing the fund.
“Up to 60% of the fund's NAV can be invested in selected regional markets which include Japan, Australia, South Korea, Taiwan, China, Hong Kong, New Zealand, Singapore, Thailand, the Philippines, Indonesia and other approved markets,” he said in a statement yesterday.
Teh said to help generate interest income, the balance of the fund's NAV would be invested in domestic fixed income securities, such as sovereign bonds, corporate debt and money market instruments.
PBAREIF was suitable for conservative to moderate investors with a preference for regular income and a respectable level of capital growth, he said.
During the 21-day initial offer period from Dec 18, 2007, to Jan 7, 2008, the issue price/NAV of PBAREIF is at 25 sen per unit with a promotional service charge of 5.45% of NAV per unit.
Investors who opt for direct debit instruction with PBAREIF during the offer period will also enjoy the special promotional service charge of 5.45% of NAV per unit for as long as the direct debit is active. – 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.
Monday, December 17, 2007
Public Mutual enlarges China Islamic fund to 5b units
TheEdge
KUALA LUMPUR: Public Mutual has increased the size of its recently launched Public China Ittikal Fund (PCIF), the first China Islamic fund, to five billion units on the back of robust demand.
The Public Bank-owned fund manager said it had sold RM1 billion worth of PCIF in the month following its launch on Nov 20, 2007.
“The fund received good response as this is the first China Islamic fund in the country that offers investors the opportunity to ride on the solid growth prospects of the Greater China region,” Public Mutual chief executive officer Yeoh Kim Hong said.
She said the Greater China region of China, Hong Kong and Taiwan presented significant growth opportunities. The Chinese economy is projected to grow steadily at 11.2% for 2007 and 10.6% for 2008, supported by resilient domestic consumption, investment and exports.
“China has emerged as a major growth engine for this region apart from the US with real gross domestic product (GDP) growth sustained at a robust pace averaging 9.2% annually. Hong Kong’s GDP growth is set to expand at above 5% for 2007/08, while GDP growth for Taiwan is projected at above 4% for 2007/08,” she added.
PCIF is an Islamic equity fund that seeks medium to long-term capital growth by investing in a portfolio of syariah-compliant investments in the Greater China region. The fund will invest a minimum of 70% of its net asset value (NAV) in China, Hong Kong and Taiwan stocks. It is distributed by Public Mutual’s unit trust consultants.
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.
KUALA LUMPUR: Public Mutual has increased the size of its recently launched Public China Ittikal Fund (PCIF), the first China Islamic fund, to five billion units on the back of robust demand.
The Public Bank-owned fund manager said it had sold RM1 billion worth of PCIF in the month following its launch on Nov 20, 2007.
“The fund received good response as this is the first China Islamic fund in the country that offers investors the opportunity to ride on the solid growth prospects of the Greater China region,” Public Mutual chief executive officer Yeoh Kim Hong said.
She said the Greater China region of China, Hong Kong and Taiwan presented significant growth opportunities. The Chinese economy is projected to grow steadily at 11.2% for 2007 and 10.6% for 2008, supported by resilient domestic consumption, investment and exports.
“China has emerged as a major growth engine for this region apart from the US with real gross domestic product (GDP) growth sustained at a robust pace averaging 9.2% annually. Hong Kong’s GDP growth is set to expand at above 5% for 2007/08, while GDP growth for Taiwan is projected at above 4% for 2007/08,” she added.
PCIF is an Islamic equity fund that seeks medium to long-term capital growth by investing in a portfolio of syariah-compliant investments in the Greater China region. The fund will invest a minimum of 70% of its net asset value (NAV) in China, Hong Kong and Taiwan stocks. It is distributed by Public Mutual’s unit trust consultants.
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.
Thursday, December 13, 2007
AmInvestment declares income for 2 funds
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.
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.
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.
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.
New ops for OSK Trustees
TheStar
PETALING JAYA: OSK Trustees Bhd has received Securities Commission (SC) approval to provide financial planning advisory services, making it the country's first trust company to do so.
The company received the Capital Market Services licence from the SC last month to offer such services pursuant to the Capital Markets Services Act 2007.
Chief operating officer Ong Eu Jin said the approval was a significant milestone for the will-writing and trustee industry as it marked the beginning of a new financial planning and advisory-based approach by a trust company.
With the licence, OSK Trustees would be authorised to provide advice, including by way of plan-writing and charge professional fees for its advisory services.
The scope of the company's advisory services would centre around estate planning and administration, he told StarBiz.
He said with the launch of its advisory services, OSK Trustees was moving beyond merely providing will-writing and trustee services by offering more “complete and elaborate estate planning services''.
“We are positioning ourselves as the industry leader in terms of expertise and know-how for the public to turn to for assistance.
“The services also complement our will-writing and estate administration services, in which OSK Trustees is a prominent industry player, and are expected to contribute to a significant increase in the number of wills and trusts,'' Ong said.
He said although advisory services were a complementary service, the company was confident it would contribute to as much as 15% to 20% of its total income in the next two to three years.
Ong said potential users of estate planning advisory services included business owners (in dealing with their business succession planning), Malaysian residents with properties in foreign jurisdictions, Malaysian residents with foreign dependants, and foreigners who had properties in Malaysia.
Ong expects the potential market for advisory services to be huge due to the lack of public knowledge in dealing with a deceased’s estate.
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.
PETALING JAYA: OSK Trustees Bhd has received Securities Commission (SC) approval to provide financial planning advisory services, making it the country's first trust company to do so.
The company received the Capital Market Services licence from the SC last month to offer such services pursuant to the Capital Markets Services Act 2007.
Chief operating officer Ong Eu Jin said the approval was a significant milestone for the will-writing and trustee industry as it marked the beginning of a new financial planning and advisory-based approach by a trust company.
With the licence, OSK Trustees would be authorised to provide advice, including by way of plan-writing and charge professional fees for its advisory services.
The scope of the company's advisory services would centre around estate planning and administration, he told StarBiz.
He said with the launch of its advisory services, OSK Trustees was moving beyond merely providing will-writing and trustee services by offering more “complete and elaborate estate planning services''.
“We are positioning ourselves as the industry leader in terms of expertise and know-how for the public to turn to for assistance.
“The services also complement our will-writing and estate administration services, in which OSK Trustees is a prominent industry player, and are expected to contribute to a significant increase in the number of wills and trusts,'' Ong said.
He said although advisory services were a complementary service, the company was confident it would contribute to as much as 15% to 20% of its total income in the next two to three years.
Ong said potential users of estate planning advisory services included business owners (in dealing with their business succession planning), Malaysian residents with properties in foreign jurisdictions, Malaysian residents with foreign dependants, and foreigners who had properties in Malaysia.
Ong expects the potential market for advisory services to be huge due to the lack of public knowledge in dealing with a deceased’s estate.
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.
Monday, December 10, 2007
SBB Equity Income Fund declares 8 sen distribution
TheEdge
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a gross income distribution of 8 sen per unit for holders of its SBB Equity Income Fund (EIF).
In a statement on Dec 7, the gross income distribution was declared to be at 5.58% of the SBB EIF net asset value per unit as at Nov 20, 2007.
CIMB Wealth Advisors chief executive officer Tan Beng Wah said: “EIF has performed well this year. Bloomberg data shows that as at October 2007, the fund has gained almost 41% since the year began.”
“This was largely due to the fund managers’ ability to pick the right stocks. In addition, the fund has also benefited from exposure in the regional markets,” said Tan.
Launched in October 2003, EIF aims to provide investors with a consistent and stable income by investing in a diversified portfolio of dividend-yielding equities and fixed income securities.
It also provides moderate capital growth potential over the medium to long term period. EIF has consistently declared an income distribution of at least 5% annually since its inception in 2003.
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.
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a gross income distribution of 8 sen per unit for holders of its SBB Equity Income Fund (EIF).
In a statement on Dec 7, the gross income distribution was declared to be at 5.58% of the SBB EIF net asset value per unit as at Nov 20, 2007.
CIMB Wealth Advisors chief executive officer Tan Beng Wah said: “EIF has performed well this year. Bloomberg data shows that as at October 2007, the fund has gained almost 41% since the year began.”
“This was largely due to the fund managers’ ability to pick the right stocks. In addition, the fund has also benefited from exposure in the regional markets,” said Tan.
Launched in October 2003, EIF aims to provide investors with a consistent and stable income by investing in a diversified portfolio of dividend-yielding equities and fixed income securities.
It also provides moderate capital growth potential over the medium to long term period. EIF has consistently declared an income distribution of at least 5% annually since its inception in 2003.
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.
Thursday, December 6, 2007
OSK-UOB aims to manage RM5b funds
TheStar
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd is targeting to grow its total funds under management to about RM5bil by end-2008 from RM3.6bil currently.
Chief executive officer Ho Seng Yee said the company would launch various products – local, regional and global – to enlarge its fund size.
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd is targeting to grow its total funds under management to about RM5bil by end-2008 from RM3.6bil currently.
Chief executive officer Ho Seng Yee said the company would launch various products – local, regional and global – to enlarge its fund size.
»We will be launching five funds by the first half of next year and another few within the year« HO SENG YEE
“We will be launching five funds by the first half of next year and another few within the year.
“We will also re-launch some of our existing funds which we feel have the potential,” he said after the launch of OSK-UOB Big Cap China Enterprise yesterday.
With the new product, it now has 32 funds under its stable. According to Ho, the new fund would potentially bring in annualised returns of between 15% and 18%.
He said the fund was the first in the country that focused on pure China plays and aimed to provide investors with long-term capital appreciation by investing in securities of companies with high growth potential.
It would invest in equities and equity-linked securities issued by companies whose businesses were in China and those with a market capitalisation of at least US$1bil, he added.
UOB Asset Management Ltd (UOBAM) of Singapore is the external investment manager for Big Cap China Enterprise.
UOBAM senior director and head of Asia ex-Japan equities Colin Ng said some of the sectors the fund would invest were consumer, infrastructure and environment.
Ho said China had been the world’s fastest growing economy in recent years due to rising urbanisation and industrialisation, increasing income of the mass population, strong domestic consumption and favourable demographic profiles.
Ng added that the Chinese market was flush with liquidity worth trillions of dollars and the risk of the economy overheating was minimal, as the government was careful in its monetary and fiscal policy measures to balance its economic growth and overheating risks.
According to reports, he said, the Chinese economy was also less sensitive to a potential US economic slowdown.
With an approved size of 400 million units, Big Cap China Enterprise is offered to the public at an initial unit price of 50 sen.
The offer period is from Dec 3 to Dec 23 and the initial minimum investment is RM1,000.
OSK-UOB Unit Trust Management is currently ranked among the top 10 players in the investment management business.
Lower unit trust sales charges
TheStar
PETALING JAYA: Effective next month, sales charges for investment in unit trusts by Employees Provident Fund (EPF) contributors are expected to be slashed to not more than 3% from 5% to 6% now.
A source told StarBiz that the move was expected as the current charges were relatively high compared with other countries, and for the industry to be globally competitive, the upfront sales charges should come down.
This would also reduce the cost of investment and improve returns as the current sales charges were eating into unit trust returns, he said, adding that the move, over time, would lower the overall sales charges in the industry.
Pacific Mutual Fund Bhd chief executive officer and chief investment officer Michael Auyeung said the move was a positive development for the industry.
Lowering sales charges would provide investors a quicker path to garnering returns on their investment, and might encourage many to make regular withdrawals.
“Distributors who earnestly assess what the EPF is trying to do for its contributors will eventually see that this move will benefit everyone,” Auyeung said.
From the perspective of unit trust management companies, most players would welcome the lowering of any hurdle that helped change investors' mindsets and allowed them to realise that unit trusts were an extremely viable investment and pension planning instrument, he said.
Furthermore, he said, the excuse that high upfront fees were keeping pensioned investors away had been partly overcome.
Auyeung said when news emerged that EPF investors were losing money in unit trusts, Pacific Mutual conducted an in-depth study of its own investor base. “Total gains made by our investors between 2003 and 2005 were RM41.32mil while losses amounted to RM65,000.
Most of the losses were incurred by recent investors who had yet to recover the fees they paid upfront,” he noted.
An industry player said: “Those unit trust management companies that rely heavily on agents would in the short term see a negative impact on their businesses.
“This is because the agents' customers mainly comprise EPF contributors. The lowering of sales charges would affect the agents' commissions which, in turn, would affect the companies' businesses in the short term.''
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.
PETALING JAYA: Effective next month, sales charges for investment in unit trusts by Employees Provident Fund (EPF) contributors are expected to be slashed to not more than 3% from 5% to 6% now.
A source told StarBiz that the move was expected as the current charges were relatively high compared with other countries, and for the industry to be globally competitive, the upfront sales charges should come down.
This would also reduce the cost of investment and improve returns as the current sales charges were eating into unit trust returns, he said, adding that the move, over time, would lower the overall sales charges in the industry.
Pacific Mutual Fund Bhd chief executive officer and chief investment officer Michael Auyeung said the move was a positive development for the industry.
Lowering sales charges would provide investors a quicker path to garnering returns on their investment, and might encourage many to make regular withdrawals.
“Distributors who earnestly assess what the EPF is trying to do for its contributors will eventually see that this move will benefit everyone,” Auyeung said.
From the perspective of unit trust management companies, most players would welcome the lowering of any hurdle that helped change investors' mindsets and allowed them to realise that unit trusts were an extremely viable investment and pension planning instrument, he said.
Furthermore, he said, the excuse that high upfront fees were keeping pensioned investors away had been partly overcome.
Auyeung said when news emerged that EPF investors were losing money in unit trusts, Pacific Mutual conducted an in-depth study of its own investor base. “Total gains made by our investors between 2003 and 2005 were RM41.32mil while losses amounted to RM65,000.
Most of the losses were incurred by recent investors who had yet to recover the fees they paid upfront,” he noted.
An industry player said: “Those unit trust management companies that rely heavily on agents would in the short term see a negative impact on their businesses.
“This is because the agents' customers mainly comprise EPF contributors. The lowering of sales charges would affect the agents' commissions which, in turn, would affect the companies' businesses in the short term.''
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, December 5, 2007
OSK-UOB declares 12.2% dividend for Golden Dragon Fund
TheEdge
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd declared a gross distribution of 6.5 sen per unit for its OSK-UOB Golden Dragon Fund for the financial period ending Dec 31, 2007.
Its chief executive officer Ho Seng Yee said the fund was established in May 2007 and it invests in the vibrant Greater China markets, that is, China, Hong Kong and Taiwan.
“This is the fund’s maiden distribution and we are pleased to inform our investors that for just a short period of investment of about 6 months, the distribution declared has a dividend yield of 12.2%,” it said.
OSK-UOB manages 32 unit trust funds with an asset size of over RM3.6 billion.
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.
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd declared a gross distribution of 6.5 sen per unit for its OSK-UOB Golden Dragon Fund for the financial period ending Dec 31, 2007.
Its chief executive officer Ho Seng Yee said the fund was established in May 2007 and it invests in the vibrant Greater China markets, that is, China, Hong Kong and Taiwan.
“This is the fund’s maiden distribution and we are pleased to inform our investors that for just a short period of investment of about 6 months, the distribution declared has a dividend yield of 12.2%,” it said.
OSK-UOB manages 32 unit trust funds with an asset size of over RM3.6 billion.
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.
CIMB declares 10 sen for DALI 2
TheEdge
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a 10 sen per unit gross income distribution for its SBB Dana Al-Ihsan 2 Fund (DALI 2) holders, amounting to 5.08% of the fund’s net asset value per unit as at Oct 31, 2007.
DALI 2, an equity growth fund, was launched in 2003 to give consistent capital growth over medium to long term through a diversified investment portfolio of syariah-compliant equities and fixed income securities.
Its chief executive officer Tan Beng Wah said DALI 2 had registered a total return of 46.92% since the beginning of the year. It also out-performed its benchmark, the Kuala Lumpur Syariah Index by 6.6% as at Oct 31, 2007.
“This was partly due to our decision last year to also invest in foreign syariah-compliant equitities, focusing on Asia Pacific,” he said.
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.
KUALA LUMPUR: CIMB Wealth Advisors Bhd has declared a 10 sen per unit gross income distribution for its SBB Dana Al-Ihsan 2 Fund (DALI 2) holders, amounting to 5.08% of the fund’s net asset value per unit as at Oct 31, 2007.
DALI 2, an equity growth fund, was launched in 2003 to give consistent capital growth over medium to long term through a diversified investment portfolio of syariah-compliant equities and fixed income securities.
Its chief executive officer Tan Beng Wah said DALI 2 had registered a total return of 46.92% since the beginning of the year. It also out-performed its benchmark, the Kuala Lumpur Syariah Index by 6.6% as at Oct 31, 2007.
“This was partly due to our decision last year to also invest in foreign syariah-compliant equitities, focusing on Asia Pacific,” he said.
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.
Tuesday, December 4, 2007
Public Mutual declares distributions for 8 funds
PublicMutual
Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for eight of its funds. The gross distributions declared are for financial year / period ended 30 November 2007:
Public Ittikal Fund - Gross distribution of 10.00 sen per unit
Public Dividend Select Fund - Gross distribution of 5.50 sen per unit
Public Islamic Equity Fund - Gross distribution of 5.00 sen per unit
Public Far-East Select Fund - Gross distribution of 4.00 sen per unit
Public Regional Sector Fund - Gross distribution of 3.50 sen per unit
Public Far-East Dividend Fund - Gross distribution of 2.00 sen per unit
Public Balanced Fund - Gross distribution of 10.00 sen per unit
Public Islamic Balanced Fund - Gross distribution of 2.25 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Ittikal Fund, Public Dividend Select Fund and Public Islamic Equity Fund have generated a one-year return of 37.43%, 36.63% and 40.04% respectively for the period ended 16 November 2007, according to The Edge-Lipper Fund Table dated 26 November 2007.
As for Public Far-East Select Fund and Public Regional Sector Fund, both funds have generated a one-year return of 43.19% and 35.42% respectively for the period ended 16 November 2007. Both funds have outperformed their benchmarks of 33.10% and 29.53% respectively for the same period.
Public Far-East Dividend Fund which was launched in November 2006, has generated a six-month return of 11.69% for the period ended 16 November 2007.
Public Balanced Fund, on the other hand has also outperformed its benchmark of 21.11%, with a one-year return of 31.71% for the same period. Meanwhile, Public Islamic Balanced Fund has registered a one-year return of 23.46% for the period ended 16 November 2007.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 54 funds for more than 1,350,000 accountholders. As at 31 October 2007, the total net asset value of the funds managed by the company was RM26.7 billion.
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.
Public Bank’s wholly-owned subsidiary, Public Mutual declares distributions for eight of its funds. The gross distributions declared are for financial year / period ended 30 November 2007:
Public Ittikal Fund - Gross distribution of 10.00 sen per unit
Public Dividend Select Fund - Gross distribution of 5.50 sen per unit
Public Islamic Equity Fund - Gross distribution of 5.00 sen per unit
Public Far-East Select Fund - Gross distribution of 4.00 sen per unit
Public Regional Sector Fund - Gross distribution of 3.50 sen per unit
Public Far-East Dividend Fund - Gross distribution of 2.00 sen per unit
Public Balanced Fund - Gross distribution of 10.00 sen per unit
Public Islamic Balanced Fund - Gross distribution of 2.25 sen per unit
Public Mutual’s Chairman Tan Sri Dato’ Sri Dr. Teh Hong Piow said Public Ittikal Fund, Public Dividend Select Fund and Public Islamic Equity Fund have generated a one-year return of 37.43%, 36.63% and 40.04% respectively for the period ended 16 November 2007, according to The Edge-Lipper Fund Table dated 26 November 2007.
As for Public Far-East Select Fund and Public Regional Sector Fund, both funds have generated a one-year return of 43.19% and 35.42% respectively for the period ended 16 November 2007. Both funds have outperformed their benchmarks of 33.10% and 29.53% respectively for the same period.
Public Far-East Dividend Fund which was launched in November 2006, has generated a six-month return of 11.69% for the period ended 16 November 2007.
Public Balanced Fund, on the other hand has also outperformed its benchmark of 21.11%, with a one-year return of 31.71% for the same period. Meanwhile, Public Islamic Balanced Fund has registered a one-year return of 23.46% for the period ended 16 November 2007.
Public Mutual is the largest private unit trust company in Malaysia and it currently manages 54 funds for more than 1,350,000 accountholders. As at 31 October 2007, the total net asset value of the funds managed by the company was RM26.7 billion.
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.
CIMB sweeps structured product awards
TheEdge
KUALA LUMPUR: CIMB Group recently swept three awards in The Asset’s Mid-Year 2007 Triple A Derivatives and Structured Products Awards.
Its Islamic All-Stars Global Restricted Mudharabah Structured Investment-i won the Most Innovative Syariah-Compliant Structured Product in Asia, Best Guaranteed Fund in Malaysia and Best Local Currency Structured Product in Malaysia.
The Asset claims to be the largest circulated finance magazine to global investors specialising in Asian markets.
CIMB’s head of group treasury, Lee Kok Kwan, said: “We are honoured to receive these awards, which recognise our leading position in creating capital market products for the mass affluent segment, and our innovation in Islamic finance.”
The Islamic All-Stars Global, launched in Malaysia and Singapore in January 2007, was the first ringgit and Singapore dollar Islamic structured product offered in both countries.
CIMB Group’s structured products are distributed at all 381 branches of CIMB Bank and CIMB Islamic nationwide.
The group’s latest offering is the Dynamic Asia Capital Protected (DACP) Fund, a three-year product that combines insurance and investment features.
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.
KUALA LUMPUR: CIMB Group recently swept three awards in The Asset’s Mid-Year 2007 Triple A Derivatives and Structured Products Awards.
Its Islamic All-Stars Global Restricted Mudharabah Structured Investment-i won the Most Innovative Syariah-Compliant Structured Product in Asia, Best Guaranteed Fund in Malaysia and Best Local Currency Structured Product in Malaysia.
The Asset claims to be the largest circulated finance magazine to global investors specialising in Asian markets.
CIMB’s head of group treasury, Lee Kok Kwan, said: “We are honoured to receive these awards, which recognise our leading position in creating capital market products for the mass affluent segment, and our innovation in Islamic finance.”
The Islamic All-Stars Global, launched in Malaysia and Singapore in January 2007, was the first ringgit and Singapore dollar Islamic structured product offered in both countries.
CIMB Group’s structured products are distributed at all 381 branches of CIMB Bank and CIMB Islamic nationwide.
The group’s latest offering is the Dynamic Asia Capital Protected (DACP) Fund, a three-year product that combines insurance and investment features.
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.
Monday, December 3, 2007
Tune Money gets nodfor fund biz
TheEdge
KUALA LUMPUR: No frills financial services provider Tune Money Sdn Bhd has received a conditional approval for a fund management licence, paving the way for the company to venture into the unit trust business, sources said.
The sources said the company, which received the conditional approval from the Securities Commission (SC) last week, would have to set up a subsidiary to take on the unit trust management business.
SC rules dictate that for a company to venture into the business, it must have unit trust management company status.
“Tune Money either has to have such status or at least create a new subsidiary to take on the unit trust management business,” a source told The Edge Financial Daily.
The source said Tune Money would likely market the unit trust products through foreign fund managers, which could be based in Hong Kong.
“With investment rules in China to be liberalised next year, retail investors from mainland China will be able to buy such products from Hong Kong-based fund managers.
“The China market will present a huge potential for Tune Money if indeed it appoints fund managers in Hong Kong,” said the source.
Tune Money’s chief executive officer Tengku Zafrul Aziz is believed to have visited Hong Kong recently to scout for possible partners for its unit trust fund management business.
With the licence from the SC, Tune Money would be able to manage its own unit trust funds on top of acting as agent for other unit trusts.
Tune Money’s business model would allow it to sell the unit trust products cheaper than most others in the market as online sales would mean no middleman and savings on management fee.
It is believed that Tune Money could sell its unit trust products from as low as RM100 without upfront fees. Fund management fees in the local market currently range between 1% and 3% of the total net asset value of a fund.
Tengku Zafrul has said the company’s focus for next year would be on fund management, and expanding into neighbouring countries like Indonesia, Thailand and Vietnam, and launching a hospitalisation insurance scheme.
Modelled after other no-frills online financial services such as Egg Prudential Bank in the US and Virgin Money in Europe, Tune Money currently offers online policies for personal accident, motorcycle personal accident and home insurance, which are all underwritten by CIMB Aviva.
Tune Money has also teamed up with Visa International to come up with Tune Card, which is available to anyone who applied for it, as there are no minimum salary requirement or employment checks.
Tune Money is 44.88% owned by Tune Ventures Sdn Bhd. The balance of the equity is held by CIMB (25%), Tengku Zafrul (10%), Datuk Kalimullah Hassan (8.21%), Lim Kian Onn (8.21%), Kaneswaran Avili (1.5%) and Tune Money Employees Sdn Bhd (2.25%).
Tune Ventures is in turn 40% owned by AirAsia Bhd chief executive officer Datuk Tony Fernandes, AirAsia deputy group CEO Datuk Kamarudin Meranun (30%), Dennis Melka (25%) and Tune Strategic Investments Ltd (5%).
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.
KUALA LUMPUR: No frills financial services provider Tune Money Sdn Bhd has received a conditional approval for a fund management licence, paving the way for the company to venture into the unit trust business, sources said.
The sources said the company, which received the conditional approval from the Securities Commission (SC) last week, would have to set up a subsidiary to take on the unit trust management business.
SC rules dictate that for a company to venture into the business, it must have unit trust management company status.
“Tune Money either has to have such status or at least create a new subsidiary to take on the unit trust management business,” a source told The Edge Financial Daily.
The source said Tune Money would likely market the unit trust products through foreign fund managers, which could be based in Hong Kong.
“With investment rules in China to be liberalised next year, retail investors from mainland China will be able to buy such products from Hong Kong-based fund managers.
“The China market will present a huge potential for Tune Money if indeed it appoints fund managers in Hong Kong,” said the source.
Tune Money’s chief executive officer Tengku Zafrul Aziz is believed to have visited Hong Kong recently to scout for possible partners for its unit trust fund management business.
With the licence from the SC, Tune Money would be able to manage its own unit trust funds on top of acting as agent for other unit trusts.
Tune Money’s business model would allow it to sell the unit trust products cheaper than most others in the market as online sales would mean no middleman and savings on management fee.
It is believed that Tune Money could sell its unit trust products from as low as RM100 without upfront fees. Fund management fees in the local market currently range between 1% and 3% of the total net asset value of a fund.
Tengku Zafrul has said the company’s focus for next year would be on fund management, and expanding into neighbouring countries like Indonesia, Thailand and Vietnam, and launching a hospitalisation insurance scheme.
Modelled after other no-frills online financial services such as Egg Prudential Bank in the US and Virgin Money in Europe, Tune Money currently offers online policies for personal accident, motorcycle personal accident and home insurance, which are all underwritten by CIMB Aviva.
Tune Money has also teamed up with Visa International to come up with Tune Card, which is available to anyone who applied for it, as there are no minimum salary requirement or employment checks.
Tune Money is 44.88% owned by Tune Ventures Sdn Bhd. The balance of the equity is held by CIMB (25%), Tengku Zafrul (10%), Datuk Kalimullah Hassan (8.21%), Lim Kian Onn (8.21%), Kaneswaran Avili (1.5%) and Tune Money Employees Sdn Bhd (2.25%).
Tune Ventures is in turn 40% owned by AirAsia Bhd chief executive officer Datuk Tony Fernandes, AirAsia deputy group CEO Datuk Kamarudin Meranun (30%), Dennis Melka (25%) and Tune Strategic Investments Ltd (5%).
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.
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