BIMB invest declares income distributions for BIMB-Arabesque Fund

KUALA LUMPUR: BIMB Investment Management Bhd (BIMB Invest) has declared a 7.1% (ringgit class) and 6.9% (US dollar class) income distribution yield for its multi-currency global Shariah-ESG equity fund, the BIMB-Arabesque i Global Dividend Fund 1.

In a statement today, BIMB Invest chief executive officer, Najmuddin Mohd Lutfi, said the distribution has exceeded its benchmark target of 6%. 

“The fund rebalances its portfolio on a daily basis between equity and cash for sustainable risk adjusted investment returns. 

“The systematic and rules-based quantitative investment approaches also take into account environmental, social and governance data to invest in companies with sustainable financial future,” he said.

Najmuddin said the BIMB-Arabesque i Global Dividend Fund 1 used artificial intelligence and big data technology in its investment process to remove human biases and intuition.

The technology, he said, enabled the company to construct the best combination of stocks from a universe of 77,000 global listed companies to form a portfolio of up to 100 stocks daily by using more than 1,600 selection criteria that process over 100 billion data points.

The fund can be subscribed from any Bank Islam Malaysia Bhd’s 145 branches nationwide, BIMB Invest’s consultants, KenWealth by Kenanga and Phillip Mutual.

BIMB Invest is a wholly-owned unit of Bank Islam - Bernama.