HLG Unit Trust Bhd Seeks To Increase Fund Size Of Newly-launched Sellout Fund HLG Asia- Pacific Dividend Fund
In response to overwhelming demand to its newly-launched regional fund, HLG Unit Trust Bhd intends to increase the fund size of the HLG Asia-Pacific Dividend Fund by 100 million units, pending approval from Securities Commission.
The HLG Asia-Pacific Dividend Fund, which was launched February 28 2006, was fully subscribed within its initial offer period, charting sales of 500 million units.
“With the pending approval of the additional 100 million units, we are able to cope with market demand and the strong response from our investors,“ says Richard Lin, Executive Director and Chief Executive Officer of HLG Asset Management Sdn Bhd.
“The swift take up of all our units are indicative of increased interest in regional funds,” he added. The HLG Asia-Pacific Dividend Fund is an equity growth and income fund that intends to invest in securities in Asia-Pacific countries, excluding Japan, aiming at securities that generates attractive dividend yield. The Fund succeeded in appealing to a segment of investors seeking to invest in the fastest growing region in a relatively safe and convenient manner.
“Our partners and distributors, Hong Leong Bank Berhad, HSBC Bank Malaysia Berhad, United Overseas Bank (Malaysia) Bhd, Standard Chartered Bank Malaysia Berhad, Affin Bank Berhad, CIMB Private Banking and our Direct Fund Distributors, were key in the sellout success of the Fund,” said Lin.
The HLG Asia-Pacific Dividend Fund is the 17th Fund in HLG Unit Trust’s portfolio of funds. Currently, HLG Unit Trust Bhd already manages a diverse product range that includes a selection of Islamic Syariah-compliant unit trusts, growth funds, equity funds, balanced funds, sectoral funds as well as bond funds.
As at February 28 2006, HLG Unit Trust Bhd has a combined total fund size of RM 1.72 billion.
About HLG Asia-Pacific Dividend Fund
The HLG Asia-Pacific Dividend Fund is an equity growth and income fund that intends to invest in securities in Asia-Pacific countries, excluding Japan, aiming at securities that generates attractive dividend yield. The Fund seeks to provide investors with steady recurring income that is potentially higher than the average fixed deposit rates. At the same time, the Fund also attempts to attain medium-to-long term capital gains from investing in high quality dividend yielding securities.
The HLG Asia-Pacific Dividend Fund is designed for investors who are seeking stable investment returns and a greater diversification in their investment holdings through regional exposure from countries in the Asia-Pacific region, excluding Japan. To achieve the fund objective of regular income, the Fund’s strategy is to invest in equities with good dividend payout policies and potential for capital appreciation.
The foreign markets which have been approved for the Fund are Australia, China, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, Philippines, Singapore, Taiwan and Thailand. However, other foreign markets within the Asia-Pacific markets will also be constantly looked into as it may become viable for investment.
Market exposure for the HLG Asia-Pacific Dividend Fund would be between 50-95% in the foreign markets and a maximum of 50% locally. The asset allocation for the Fund would be between 50-95% in equities and between 0-30% in fixed income securities.
The HLG Asia-Pacific Dividend Fund has a total approved fund size of 500 million units priced at RM 0.50 per unit during the initial offer period (from February 28 2006 till March 20 2006).
Minimum initial investment for HLG Asia-Pacific Dividend Fund is RM 1,000 while the minimum additional investment is RM 100.
Available immediately, HLG Asia-Pacific Dividend Fund is distributed through both HLG Unit Trust Bhd’s agency force as well as Institutional Unit Trust Agents (IUTA). HLG Asia-Pacific Fund is available through selected HLG Unit Trust Bhd’s existing IUTAs namely, Hong Leong Bank Berhad, HSBC Bank Malaysia Bhd, United Overseas Bank (Malaysia) Bhd, Standard Chartered Bank Malaysia Berhad, Affin Bank Berhad and CIMB Private Banking.
About HLG Unit Trust Bhd
Incorporated on October 5 1994, HLG Unit Trust Bhd is an established unit trust management company, and a member of the Hong Leong Group Malaysia. Its core business is the management of unit trust funds.
Here at HLG Unit Trust Bhd, everything we do reflects our tagline “Making Opportunities Work”. Making opportunities work is central to what we do. In the world of investment, it is all about being able to spot the right opportunities and at HLG Unit Trust Bhd, we strive to make them work for our investors.
Today, the company manages 17 unit trust funds, which are distributed nationwide through multiple channels. Direct and channel distribution activities are supported by the HLG Unit Trust Bhd’s strategic nationwide sales support infrastructure. This includes our headquarters in Kuala Lumpur and six sales support offices nationwide in Kuala Lumpur, Ipoh, Penang, Johor Bahru, Kuching and Kota Kinabalu.
As at February 28 2006, HLG Unit Trust Bhd has a combined total fund size of RM 1.72 billion.