BusinessTimes
PRUDENTIAL Fund Management Bhd (PFMB) has declared an income distribution of 3.56 sen per unit to unit holders of Prudential Balanced Fund. The distribution is equivalent to 5 per cent on Net Asset Value of the Fund as at 31 July 2009.
All unit holders who have maintained their unit holdings as at 24 August 2009 will be entitled to this income distribution.
PRUbalanced fund invests in a mixed portfolio of companies with good dividend yield and low price volatility and a portfolio of investment-grade fixed-income securities.
The Fund has met is objective of providing investors with capital appreciation and a reasonable level of income over the longer term. The Fund charted a 1, 3 and 5-year return of 5.01 per cent, 32.27 per cent and 41.30 per cent respectively.
Since its inception on 29 May 2001, the Fund recorded a return of 117.98 per cent, outperforming its benchmark, by 48.20 per cent.
This would be the fourth income distribution for the Fund since its inception.
“The Fund benefited from selected big-cap holdings especially the banks, as investors positioned their funds to reflect the new weighting in the new FBMKLCI index. The banking sector comprises a major sector weighting for the new index. The Fund’s exposure in corporate bonds also helped the Fund’s relative performance as corporate bonds yield higher returns than the benchmark RAM quant shop Medium Index in June,” PFMB CEO-Designate Thomas Cheong said in a statement.
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