KUALA LUMPUR: TA Investment Management Bhd (TAIM) has declared a three sen gross income distribution per unit for the unit holders of TA Dana OptiMix (TADO).
According to a statement by the company, the distribution of three sen per unit is equivalent to an income return of 19.5% and the fund had total return of 42.9% against its benchmark FBM Emas Shariah of 40.7% during its financial year ended Jan 31, 2010 based on data from Lipper Hindsight.
TAIM’s deputy chief investment officer Vivien Loh said, “Going forward, we believe that equity markets to remain volatile with expectations of monetary tightening and a global economic recovery. Timing is the key strategy to outperform. In the near term, we expect a meaningful and swift correction in early 2010 as general share prices may have run ahead of fundamentals.”
“We want to take the opportunity when the correction comes and hence we intend to raise cash to accumulate stocks at cheaper levels. In the long term we are bullish on equity and expect the market to rally towards the end of year 2010 as the world economies recover from recession,” she added.
TADO, which was launched in January 2005, aims to achieve steady capital gains with consistent income over the medium- to long-term period by investing in a diversified mix of syariah-approved instruments.