KUALA LUMPUR: TA Investment Management Bhd has declared a gross income distribution of 1.0 sen per unit for TA Islamic Fund (TAIF) to registered unit holders of the funds as at May 29.
TA Islamic Fund aims to achieve steady capital growth over the medium to long term period by investing in a portfolio of authorised investments which conforms strictly to Shariah principles.
In a statement Monday, TA Investment said in 20019, the fund’s net asset value (NAV) increased by 20.83% where TAIF previously distributed 2.0 sen per unit in November 2019.
TA Investment said fund managers believe that it is too early to let their guards down and continue to advise caution as the rebound in the market was slightly too strong on the back of still-weak economic recovery.
“Past experience has also shown that there is a possibility of a new wave of Covid-19 cases as the Movement Control Order (MCO) or lockdown equivalents around the world ease.
“Another immediate possible risk which will affect the market globally is the restart of the United States (US) - China trade war,” it said.
“Over the long term, fund managers are positively biased on the equity market. As Covid-19 slowly dissipates, massive global stimulus would drive economic recovery and liquidity should push market valuations up,” TA Investment said.
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