HLAM DECLARES INCOME DISTRIBUTIONS OF RM247.76 MLN FOR 15 FUNDS

KUALA LUMPUR, Aug 12  -- Hong Leong Asset Management Bhd (HLAM) has declared income distributions amounting to RM247.76 million for 15 funds, for the period of Jan 1 to June 30, 2020.

Chief executive officer Hoo See Kheng said despite the current low interest rate environment, HLAM fund managers have continued to provide a consistent and sustainable distribution yield to unit holders.

"This is the result of our commitment and disciplined approach in our investment philosophy.” he said in a statement today.

Hoo said HLAM still sees opportunities in the regional equity markets and dividend yield appear to be at attractive levels currently.

"For investors who are looking for higher yielding investments, HLAM’s suite of funds provide potential income opportunities across a wide range of regional asset classes.

"Despite the current market concerns, our fund managers are focused on delivering capital growth and income to our unit holders,” he added.

For the 12-month period from July 1, 2019 to June 30, 2020, Hong Leong Value Fund, Hong Leong Growth Fund, Hong Leong Dana Makmur, and Hong Leong Balanced Fund recorded distribution yields of 14.05 per cent, 10.16 per cent, 11.22 per cent, and 11.10 per cent, respectively.

Meanwhile, Hong Leong Hong Kong Equity Optimizer Fund, Hong Leong Consumer Products Sector Fund, Hong Leong Dana Maa’rof and Hong Leong Dividend Fund registered distribution yields of 10.81 per cent, 7.75 per cent, 6.88 per cent and 4.18 per cent, respectively.

The funds are distributed through HLAM’s offices and Hong Leong Bank Berhad’s branches nationwide.

-- BERNAMA