Public Mutual declares distributions for 10 funds

KUALA LUMOUR: Public Mutual Bhd has declared gross distributions for 10 of its funds ranging from 0.5 sen to 5.25 sen for the financial year ended July 31, 2012.

It declared a gross distribution per unit of 0.5 sen for the Public Australia Equity Fund and Public Far-East Property & Resorts Fund, according to a statement issued on Tuesday.

For the Public Optimal Growth Fund, the distribution was 1.25 sen per unit; Public Islamic Select Enterprises Fund (2.0 sen); Public Islamic Opportunities Fund (2.25 sen); Public Growth Fund (3.0 sen) and Public Islamic Income Fund (3.5 sen).

Public Mutual declared a gross distribution per unit of 4.0 sen for the PBB MTN Fund 1; Public Islamic Select Bond Fund (5.0 sen) and Public Bond Fund (5.25 sen).

Puboic Mutual, which manages RM48.6bil of funds, said the strategy for the Public Growth Fund was to achieve long-term capital appreciation with income considered incidental. Public Australia Equity Fund aims to achieve capital growth by investing in the Australian, New Zealand and domestic markets.

Public Optimal Growth Fund's target is to provide income and capital growth by investing in stocks which offer attractive dividend yields and growth stocks in the domestic market. As for Public Far-East Property & Resorts Fund, the objective is to achieve capital growth by investing in companies that are principally engaged in property investment and development, hotel and resorts development and investment and real estate investment trusts (REITs) in domestic and regional markets. The fund may also invest in companies which have significant property or real estate assets. It said that Public Islamic Opportunities Fund's strategy is to achieve capital growth through investments in companies with small market capitalisation which comply with Shariah principles.

As for Public Islamic Select Enterprises Fund, it seeks to achieve capital growth through investments in the largest 50 companies in terms of market capitalisation listed on Bursa Securities which comply with Shariah requirements. Public Bond Fund aims to provide a steady stream of income returns through investment in the money market and private debt securities.

Meanwhile, Public Islamic Select Bond Fund aims to provide annual income through investments in Islamic debt securities which have remaining maturities of seven years and below and Islamic money market instruments. Public Islamic Income Fund aims to provide annual income by investing in sukuk and Islamic money market instruments.