TheEdge
KUALA LUMPUR: HwangDBS Investment Management Bhd has declared a final distribution of five sen and an interim distribution of 1.5 sen for two of its global feeder funds, the HwangDBS Global Opportunities Fund (GOF) and the HwangDBS Global Property Fund (GPF), for all registered unit holders as at Feb 28, 2008.
In a statement yesterday, HwangDBS IM said GOF’s distribution, the first since its launch on July 18, 2006, for the year ended Jan 31, 2008 translated into an 8.23% return on the net asset value per unit and all unit holders registered as at Feb 28, 2008 were eligible to receive the income allotment.
HwangDBS IM said GOF’s performance since its inception had been favourable having chartered a 28.28% growth, outperforming its MSCI World Free Index benchmark by 30.06%, which chartered a negative growth rate of 2.03%.
It said GPF’s third income distribution since its inception on April 19, 2006 of 1.5 sen translated into a 3.46% return. It said GPF outperformed its benchmark, the UBS Warburg Global Real Estate Investor Index, by 1.96% from April 2006 to April 2007.
“Amidst the weak macroeconomic sentiments, there may be less bad news in US macroeconomic outlook, at least in second half of 2008 onwards as some companies in the US are already well-positioned to navigate through the economic challenges; Coca-Cola and IBM posting better-than-expected profits from strong sales growth in the emerging markets, offsetting the domestic slowdown,” HwangDBS IM chief executive officer and executive director Teng Chee Wai said.
“Similarly the first-quarter profits of big US companies such as Apple Inc were better-than-expected, reporting the best quarterly revenue and earnings in Apple’s history on the strong resilient demand for its products such as the Mac, iPod and iPhone5,” he said.
“There are two points that I am trying to put forward — despite the overall market uncertainties in today’s global economy outlook, there is still some hope, as there are corporations in the economies that have strong management team with an eye to capture opportunities amidst uncertainties.”
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