PETALING JAYA, Malaysia, April 1, 2016 /PRNewswire/ -- In a statement today, Pacific Mutual Fund Bhd, an investment management company under the OCBC Group, with internal resources to manage both local and global investments for its clients, said that the Company remains focused on the dividend theme when it comes to stock selection.
According to the Company's chief executive officer, chief investment officer and executive director, Teh Chi-cheun, most central banks are expected to retain expansionary monetary policies in the face of lacklustre global growth. The US Federal Reserve has revised their guidance such that they will increase rates by less than what they guided for in late 2015.
"In this environment of low, and even negative interest rates, strong liquidity is present, and this should sustain risk-on behaviour. Our theme of dividend plays remains, especially those with a growth angle," says Teh.
"Sentiment on the local market has improved. Better data is seen in corporate earnings beat-to-miss ratio and EPS downgrade decelerated in 4Q15 results season. Our Ringgit has been strengthening against the greenback. Domestically, sector-wise, we favour construction, utilities and dividend yielding sectors such as REITs and media," adds Teh.
In the same statement, Pacific Mutual also announced income distributions amounting to RM38 million for five of its Funds for the financial year ended 31 March 2016:
| Pacific Pearl Fund |
- |
7.50 sen per unit |
| Pacific Dana Aman |
- |
4.00 sen per unit |
| Pacific Dana Murni |
- |
1.75 sen per unit |
| Pacific Focus China Fund |
- |
2.00 sen per unit |
| Pacific Cash Fund |
- |
0.40 sen per unit (quarterly distribution) |
PACIFIC MUTUAL FUND BHD is a subsidiary of Lion Global Investors Limited (formerly known as Lion Capital Management Limited), a company incorporated in Singapore since 1986. Both companies are members of the OCBC Group. As at the end of March 2016, Pacific Mutual manages close to RM1.5 billion on behalf of its unit trust investors and private mandate clients.
MEDIA CONTACT:
Cindy Leong 03 -- 7725 9877 ext. 238 cindy@pacificmutual.com.my
Cindy Thean 03 -- 7725 9877 ext. 226 cthean@pacificmutual.com.my
