BIMB Invest Declares Income Distribution Yield

BIMB Investment Management Berhad (BIMB Invest), a wholly-owned subsidiary of Bank Islam Malaysia Berhad, declared 7.5% income distribution yield for its income and growth fund, known as the BIMB i Dividend Fund.

According to Najmuddin Mohd Lutfi, CEO of BIMB Invest: “Our strong fund management processes has enabled us to consistently innovate to meet investors’ expectations. Our strategy of focusing on stock selection has worked very well in 2017, as our portfolios and active stock selection outperformed in the market substantially. The BIMB i Dividend Fund invests in Malaysia’s Shariah-compliant portfolio of dividend yielding equities with potential capital growth over the medium to long term.”

He also adds that the fund intends to maintain its current overweight strategy on export counters to position for share price appreciation as the market sentiment improves. The equity exposure level will also be maintained at around 95% to 98% to maximise the dividend and trading opportunities for the fund as the stock market strengthens in 2017.

“The BIMB i Dividend Fund declared a gross distribution of 1.54% sen per unit and as of 31 December 2017, the fund saw a year-to-date (YTD) total return of 14.02%, exceeding the 6% per annum absolute return benchmark.

With the aim of offering greater convenience to investors, the fund can be subscribed from at any Bank Islam’s 147 branches nationwide, BIMB Invest’s consultants and Philip Mutual.

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