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| Public Mutual declares income distributions for 7 funds |
| Written by Surin Murugiah | |||
| Wednesday, 01 July 2009 11:23 | |||
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For the PB Growth Fund, it announced on July 1 a gross distribution of 7.5 sen per unit; six sen for the PB Balanced Fund; five sen for the PB Fixed Income Fund and three sen for the PB Islamic Bond Fund. Meanwhile, it declared 2.5 sen income distribution per unit for the Public Islamic Money Market Fund, PB Islamic Cash Management Fund and PB Cash Management Fund, respectively. Public Mutual chairman Tan Sri Dr Teh Hong Piow said he was pleased that the company was able to declare distributions on the seven funds despite the challenging market conditions. "It is heartening to note that our funds have continued to deliver respectable above-average returns for our investors even in challenging market conditions," he said. According to The Edge-Lipper Fund Table dated June 22, PB Growth Fund and PB Balanced Fund generated a three-year return of 54.69% and 36.83% respectively for the period ended June 12, 2009. "Both funds have been winning awards at The Edge-Lipper Malaysia Fund Awards every year since 2005," said Teh. PB Fixed Income Fund and PB Islamic Bond Fund have generated a three-year return of 17.29% and 14.28% respectively for the period ended June 12, 2009, he said. Public Islamic Money Market Fund, PB Islamic Cash Management Fund and PB Cash Management Fund which were all launched in year 2007, are short-term money market funds suitable for investors who wish to park their monies on a short-term basis before investing or switching to other funds. Public Mutual is Malaysia's largest private unit trust company with 70 funds under management. It has over 2,000,000 account holders serviced by over 40,000 unit trust consultants. As at June 5, 2009, the total net asset value of the funds managed by the company was RM29 billion.
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