Tuesday, September 18, 2007

3.5 sen payout for Alliance Optimal fund

TheEdge

KUALA LUMPUR: Alliance Investment Management Bhd has announced a record gross cash distribution of 3.5 sen per unit for its Alliance Optimal Income Bhd (AOIF) for its financial year ended Aug 31, 2007.

The distribution, which represents a 7% yield for six months based on average selling price, is AOIF’s second cash distribution payout in a year.

The distribution is declared on a half-yearly basis, with the first distribution of 1.5 sen in March this year, or a 3% yield based on the initial price of 50 sen.

The total cash distribution for the year amounted to 5 sen, which translated to a yield of 10% — the highest AOIF had paid out. Said Alliance Investment Management Bhd’s head Nik Azhar Abdullah, adding that AOIF is popular among investor with low risk appetite.

He said the fund appealed to those prefering a stable income stream and potentially higher than fixed deposit rates by investing in high dividend yielding stocks and fixed income securities.


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