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ASM MARA Unit Trust Management Berhad (ASM MARA Unit Trust)
has declared cash income distribution of 5.0 sen net per unit
to all unit holders of Kumpulan Modal Bumiputera Yang Ketujuh
(KMB 7) and 5.0 sen net per unit to all unit holders of KMB
Dana Pertumbuhan. For KMB Dana Pertumbuhan, unit holders are
also to receive 5 additional units for every 100 units held.
Cash income distribution will be paid to unit holders within
the next two months after the financial year ending on 15
February 2003 and additional units have been credited into
the account of all KMB Dana Pertumbuhan unit holders.
The income distribution for KMB 7 is equivalent to a yield
of 5.66% based on the net asset value (NAV) of the unit of
RM0.8840 whereas the yield for KMB Dana Pertumbuhan is 3.2%
for cash income distribution and 5.0% on additional units
based on the net asset value (NAV) of RM1.5857 per unit at
the same date.
Both KMB 7 and KMB Dana Pertumbuhan were launched in 28 December
1972 and are open for bumiputeras only. The objective of KMB7
is to provide investors with steady return and to achieve
capital growth in the medium to long term, whereas for KMB
Dana Pertumbuhan, its objective is to achieve high capital
growth over the medium to long-term through investments in
high growth and investment stocks with income distribution
considered incidental.
According to Mansoor Ahmad, Chief Executive Officer of ASM
MARA Unit Trust, "as at 31 January 2003, under the Growth
and Income Category, KMB 7 gave a return of 2.16% for 1 year
return, outperforming the market and industry returns of negative
7.52% and 1.24% respectively. KMB 7 was also ranked in the
top half of the respective category. Since it was launched
in 1972 KMB7 has paid a cumulative gross income distribution
of 469.1 sen or an average distribution of 15.6 sen per year.
As at 31 January 2003, the fund’s asset allocation consists
of 57.5% in equities and the balance in liquid assets.
As for KMB Dana Pertumbuhan, under Growth and Income category,
the fund gave a return of 1.18% for one year beating the market
return of negative 7.52% and industry return of negative 1.22%
. KMB Dana Pertumbuhan has also recorded an outstanding performance
since it was ranked third out of 21 funds by Lipper in the
Growth category. The fund has 57.5% in equities and 42.5%
in liquid assets as at 31 January 2003.
Encik Mansoor remarked that he remained positive on construction
and some building materials stocks due to the expected benefits
from pump priming and to a certain extent in resilient industries
like food and plantations.
Mansoor further added that the market is expected to be volatile
this year due to concerns on whether war will occur, how long
it will last and the impact on oil prices and global economic
growth. Due to this uncertainty, investors are expected to
remain cautious and sidelined. That may lead to further market
downside in the short-term. However, the in-house study on
market cycles shows that the market may reach its bottom in
the 3rd quarter of this year, which may present buying opportunities.
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