Monday, November 12, 2007

Unit trusts in Malaysia gain 2.63pc in Oct

BusinessTimes

Equity funds led returns again, rising 4.05 per cent on average, driven by the strong showing of the Malaysian bourse

UNIT trusts registered for sale in Malaysia rose 2.63 per cent in October to extend the previous month’s 3.02 per cent gain, boosted by the strong ringgit and the strong showing of the Malaysian bourse.

The KL Composite Index closed the month on a strong note at 1,413.65 points with a 5.79 per cent gain while the ringgit strengthened 2.17 per cent at RM3.333 against the greenback.

Equity funds led returns again, rising 4.05 per cent on average, with key domestic and regional portfolios leading gains, according to the Lipper FundMarket Insight Reports.

Bond funds were up 0.15 per cent as declines in Asian and global offerings dragged down overall gains, while Bond Malaysia rose a relatively lower 0.23 per cent.

Money market funds remained steady, yielding 0.20 per cent, the report says.Islamic subsectors were up 2.27 per cent, underperforming the broader market, with only Mixed-Asset aggressive-Islamic (+3.99 per cent) beating its market average peer.

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