TheEdge
KUALA LUMPUR: OSK-UOB Unit Trust Management Bhd has increased the size of its fund, OSK-UOB Golden Dragon Fund to two billion units following strong and consistent demand for its units since its launch in May last year.
The initial units then offered for subscription was 400 million units. This recent increase in its fund size is the Fund’s fifth such exercise, it said yesterday.
“To-date, we have sold 1.4 billion units. This increase is again required to meet the steady and constant applications for its units,” said the fund’s chief executive officer Ho Seng Yee.
Ho said in the past month, the fund manager distributed a gross distribution of 6.5 sen per unit, or a dividend yield of 12.20% for an investment period of about six months.
The Golden Dragon Fund capitalises on the tremendous growth opportunities of the equity markets of China, Hong Kong and Taiwan.
The fund manager said the fund’s investment strategy allowed asset allocations in equities and fixed income securities on a 70/30 ratio which could be reversed based on prevailing investment conditions.
OSK-UOB Unit Trust Management also declared distributions for five of its funds for the financial year/period ended Dec 31, 2007.
It declared a gross distribution of 14.7595 sen per unit for OSK-UOB Equity Trust, 16.3722 sen per unit for OSK-UOB Growth and Income Focus Fund (GIFT); 6.7131 sen per unit for OSK-UOB Asia Pacific Fund; 6.4688 sen per unit for OSK-UOB Money Market Fund, and 2.4980 sen per unit (interim distribution) for OSK-UOB Global Equity Yield Fund.
Ho said the Equity Trust, GIFT Fund, Asia Pacific Fund and the Money Market Fund generated yields of 17.35%, 21.24%, 12.93% and 6.21% respectively for the financial year ended Dec 31, 2007.
The Global Equity Yield Fund for the six-month period ended Dec 31, 2007, registered a yield of 4.78%.
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