Income distribution: AmDividend Income gets 0.5 sen income distribution per unit

KUALA LUMPUR, May 27 (The Edge Daily): AmMutual has declared an interim income distribution of 0.5 sen per unit for its AmDividend Income for the financial year ending Nov 30, 2008.
In a statement yesterday, AmBank group’s funds management division chief executive officer Datin Maznah Mahbob said the semi-annual income distribution represented a yield of 2.04% investment return based on the net asset value (NAV) per unit of 24.45 sen as at Nov 30, 2007.
“As at April 30, 2008, the fund delivered a one-year return of 7.92%, outperforming the Bursa Malaysia Kuala Lumpur Composite Index (KLCI) by 11.13%,” she said.
“The fund has outperformed because of high exposure in sectors like palm oil and finance. Another factor was the cash and equity asset allocation switching strategy.”