Public Mutual awarded 4 out of 6 from Morningstar

Public Mutual is again became biggest winner in unit trust awards. It picked up 4 out of the 6 awards given by Morningstar to Malaysia fund industry. The awards are:

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Equity category: Public Ittikal Fund, Public Growth Fund

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Fixed Income and balanced category: Public Bond Fund, PB Balanced Fund

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Public Mutual is the largest private unit trust company in Malaysia and managed 64 funds with total NAV of more than RM26.1 billion for more than 1.8 million accountholders. It began its operation in 1980 with the launch of the Public Savings Fund and soon went on to become an industry leader.

The awards will not guarantee an excellence performance in future for the Public Mutual management team but it shows the consistency of performance for Public Mutual management team since it is the biggest winner for almost every awards rating.

Morningstar is a fund rating company which operates worldwide and it provides service on unit trust industry in Malaysia with more than 435 funds. The other winners are MAAKL’s Progress Fund and CIMB’s Islamic Balance Fund.

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.”