PETALING JAYA, Malaysia, April 2, 2018 /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, has commented that the company expects greater market volatility ahead.
Commenting on the market outlook, Chief Executive Officer and Executive Director of Pacific Mutual, Teh Chi-cheun, said, "Both global and local economic data continue to be strong and sustainable. This has translated into decent market performance to date in 2018, following a good run in 2017. The risk that has stemmed from policies and politics has caused markets to be more volatile. We expect markets to continue to be on an uptrend albeit with even more market volatility ahead. In short expect a 'choppy' market."
Teh added, "Policies and political issues that could cause markets to be volatile include rising trade tensions although our base case assumption is no full-blown trade war, the impact of interest rate hikes in the US, tapering in Eurozone, changes in the US administration, Brexit negotiations and geo-political risk be it the Middle East, Russia or North Korea. Locally the impending general election in Malaysia might cause a slowdown in activities as investors and businesses await the dissolution of Parliament and the various political posturing and campaigning. That said, for the local bourse, there are pockets of opportunities in this environment."
In the same statement, Pacific Mutual announced income distributions amounting to RM15.8 million for investors of seven of its funds. The company declared annual income distributions of 5 sen per unit for Pacific Pearl Fund; 2.5 sen per unit for Pacific Dana Aman; 1.7 sen per unit for Pacific Dana Murni; and 2.5 sen per unit for Pacific Focus China Fund.
The company also declared quarterly distribution of 0.4 sen per unit for Pacific Cash Fund. In addition, monthly distributions were declared for Pacific Cash Deposit Fund at 0.3 sen per unit and Pacific OCBC Cash Fund at 0.25 sen per unit for the month of March 2018.
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 2018, Pacific Mutual manages RM1.7 billion on behalf of its unit trust investors and private mandate clients. At the recent The Edge | Thomson Reuters Lipper Malaysia Fund Awards 2018, Pacific Mutual received four awards for the best performing funds under their respective categories -- the funds are Pacific Premier Fund (Equity Malaysia Income - 3 years and 5 years); Pacific AsiaPac Income Fund (Mixed Asset MYR Balanced - Global - 3 years); and Pacific SELECT Balance Fund (Mixed Asset MYR Balanced - Malaysia - 10 years). For more information, kindly visit www.pacificmutual.com.my
MEDIA CONTACT:
Cindy Leong | cindy@pacificmutual.com.my | +60-03-7725-9877 ext. 173
