KUALA LUMPUR (Sept 15): Hong Leong Asset Management Bhd (HLAM) has declared RM292 million in income distributions for its funds over the period of Jan 1 to July 31, 2021.

HLAM is an asset management company within the Hong Leong Financial Group of companies, which establishes and distributes unit trust funds, wholesale funds and customised portfolio solutions to the retail and institutional segments. 

In a statement today, HLAM chief executive officer (CEO) Hoo See Kheng said that by staying committed to a rigorous approach on its investment philosophy and strategy, the fund manager aims to deliver a consistent and sustainable distribution yield to its investors amid the ongoing uncertainty in the market.

“We are pleased to announce a distribution payout of over RM292 million to our investors,” he added.

HLAM said that with the encouraging vaccination rates in the country, it is optimistic about a market recovery in 4QFY21 and is anticipating an improvement of corporate earnings with the reopening of the economy.

The firm added it believes that its bottom-up stock-picking strategy will be able to achieve the funds’ respective objectives, capital growth and distribution yields.

According to HLAM, the top-yielding fund was the Hong Leong Consumer Products Sector Fund, with a 9.7% one-year distribution yield, followed by the Hong Leong Value Fund (8.54%), Hong Leong Hong Kong Equity Optimizer Fund (8.3%), Hong Leong Dana Makmur (7.94%) and Hong Leong Growth Fund (7.76%).

The Hong Leong Dividend Fund saw a distribution yield of 7.66%, followed by the Hong Leong Asia-Pacific Dividend Fund (7.36%), Hong Leong Dana Maa’rof (6.78%), Hong Leong Balanced Fund (6.69%), and the wholesale Hong Leong Global Multi Strategies Fund (3.65%).