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.


Please enter your comment!
Please enter your name here

Latest News

Halal Street UK and Alliance Islamic Bank sign MOU to offer tailored programmes to SMEs

Halal Street UK,  an online store for Malaysian products in the United Kingdom has signed a multi-year Memorandum of Understanding with Alliance...

Shopee and Visa sign five-year strategic partnership to offer MSMEs more digital opportunities

E-commerce platform, Shopee and Visa has announced a five-year regional strategic partnership that will encourage greater participation in Southeast Asia’s digital economy,...

MADX Panel selects IBM Cloud to offer enhanced digital services to Malaysian enterprises

IBM has announced that MADX Panel, the leading Malaysian fintech software solutions company, is implementing IBM Cloud solutions to improve digital services...

AirAsia Digital partners with Google to launch Redbeat Academy

AirAsia Digital, in partnership with Google, has launched the Redbeat Academy as part of their continued digital transformation journey.

Better e-commerce service for higher consumer spending

By Farhan Kamarulzaman, As the usage of e-commerce platforms by Malaysians is on the increase during the Covid-19 period,...

Must read

Unprecedented times with Covid-19, business decision makers prepare for a soft landing and focus on employee retention

By Andrew Seow, Regional General Manager, Rimini Street Southeast Asia and Greater China, The Covid-19 pandemic is attacking health...

Caring for young hearts

By Dr. Marhisham Che Mood, Head of Paediatric and Congenital Heart Centre (PCHC) & Consultant Paediatric Cardiologist, While heart...

PropTech and the pandemic

By Adrian Un, CEO, SkyBridge International Digitisation and PropTech (property technology) have been buzzwords in recent years, but following...

Empower local agility to unlock new business models post-Covid-19

By Scott Hensarling, Senior Client Partner and Tobjorn Karlsson, Senior Client Partner, Korn Ferry, 2020 has challenged many assumptions...