KUALA LUMPUR: HwangDBS Investment Management Bhd (HwangDBS IM) has declared an interim gross income distribution of one sen for its HwangDBS Global Property Fund (GPF).

The company said on Thursday, Nov 19, the income distribution was for the global feeder and income-type fund's financial period ending Nov 30.

This was the ninth distribution since GPF's launch on April 19, 2006. All GPF unit holders registered as at Nov 13, would receive the income allotment. To date, GPF has distributed total income of 10.50 sen.

HwangDBS IM chief executive officer and executive director Teng Chee Wai said real estate markets were recovering and credit markets re-opening.

The global real estate investment trust (REIT) markets had a particularly strong third quarter and were a clearly outperformers compared to all other sectors.

"Thus, in line with a positive medium-term outlook, HwangDBS IM will continue to focus on high quality companies armed with healthy balance sheets and the potential to undertake accretive acquisitions," he said.

Teng added that investor sentiment had turned positive as news flows about the economic recovery worldwide had risen, leading to the market rally in the REITs sector.

However, he said it would be a while before the property market would return to a semblance of normalcy, especially in the US.