MAAKL Mutual Bhd has declared a 1.50 sen per unit distribution for its MAAKL Al-Umran fund for the financial year ended May 31, 2009.
The distribution translates into a distribution yield of 5.99 per cent, the company said in a statement today.
The fund is aimed at producing medium- to long-term capital appreciation and current income, according to MAAKL Mutual.
It is designed for investors seeking a regular income from investments which comply with Syariah requirements and relatively higher returns than general investment account.
“This fund is an Islamic balanced income fund which seeks an optimal balance between equities and bonds to maximise returns,” said MAAKL Mutual chief executive officer and executive director Wong Boon Choy.
“In particular, the fund will focus on large capitalised stocks in its equity portfolio, and in bonds, high quality and short-to-medium tenure (three-year to five-year) issues,” he said.
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