KUALA LUMPUR: BIMB Investment Management Bhd, a wholly-owned subsidiary of Bank Islam Malaysia Bhd, has declared 7.5 per cent income distribution yield for its income and growth fund, the BIMB i Dividend Fund.
BIMB Invest’s chief executive officer Najmuddin Mohd Lutfi said the company is optimistic that the positive outlook for investment opportunities in Malaysia will continue in 2018.
“We thank our investors for their continuous support and investment in our fund and we are pleased to have delivered 7.5 per cent income distribution yield.
“Our strong fund management processes has enabled us to consistently innovate to meet investors’ expectations.
“Our strategy of focusing on stock selection has worked very well in 2017 – as our portfolios and active stock selection outperformed the market substantially.
“The BIMB i Dividend Fund invests in Malaysia’s Shariah compliant portfolio of dividend yielding equities with potential capital growth over the medium to long term,” he said.
Najmuddin said the fund intends to maintain its current overweight strategy on export counters to position for share price appreciation as the market sentiment improves.
He said equity exposure level will also be maintained at around 95 to 98 per cent to maximise the dividend and trading opportunities for the fund as the stock market strengthens in 2017.
He said the BIMB i Dividend Fund declared a gross distribution of 1.54 sen per unit and as at October 31, 2017, bringing a year-to-date total return of 14.02 per cent, exceeding the six per cent per annum absolute return benchmark.