TA Investment declares distribution for two funds

KUALA LUMPUR: TA Investment Management Bhd (TAIM) has declared a gross income distribution of 3.5 sen per unit for TA Dana Fokus (TADF) for its financial year ending April 30, 2010, and a gross income distribution of two sen per unit for TA CashPLUS Fund (TACP) for its financial year ended Aug 31, 2009.

In a statement yesterday, TAIM said the distributions were equivalent to an income return of 7.05% and 3.81%, respectively.

It said TADF had performed well since its launch in June 2008, garnering a positive total return of 21.49% as at Aug 31, 2009. TAIM added that the fund saw significant gains by turning the recent financial market crisis into an opportunity to accumulate stocks at extremely attractive prices.

“This special income distribution is to reward unitholders who believed and stayed with us during the difficult period,” said TAIM’s chief investment officer Choo Swee Kee.

TAIM expects the FTSE Bursa Malaysia KLCI (FBM KLCI) to continue to trend up over the medium term as the global economic recovery gained strength, but as the market moved higher, volatility was likely to increase.

TAIM said TACP was managed conservatively according to its investment objective of generating a stable and a consistent income stream in the face of the financial crisis.

The fund is fully invested into fixed deposits and short-term money market placements that will generate interest income.