Distribution Agreement Signing Ceremony Held
Kuala Lumpur, November 8 – Four banks, namely, Hong Leong Bank Berhad, United Overseas Bank (Malaysia) Berhad, Standard Chartered Bank Malaysia Berhad and Affin Bank Berhad have officially been appointed as distributors of HLG Unit Trust Bhd’s new HLG Global Resources Income Fund.
The distribution agreement was signed today by HLG Unit Trust Bhd and the four Institutional Unit Trust Agents (IUTAs) during the official appointment ceremony held in conjunction with the unveiling of HLG Global Resources Income Fund. The appointment will allow the HLG Global Resources Income Fund to leverage on the respective distributors’ solid reputation and extensive distribution network. The Fund will be available to the public from November 13 2006.
The signing ceremony took place in conjunction with the unveiling of the HLG Global Resources Income Fund. The distribution agreement was signed by Mr. Teo Chang Seng, Executive Director and Acting CEO on behalf of HLG Unit Trust Bhd; on behalf of the key distributors, the agreement was signed by Ms. Moey Tan, Chief Operating Officer of Hong Leong Bank Bhd; Mr. Loong Tuck Weng, Senior Head of Division, Personal Financial Services of United Overseas Bank (Malaysia) Berhad; Mr. Ronnie Lim, General Manager, Wealth Management, Consumer Banking Malaysia of Standard Chartered Bank Malaysia Berhad and Michael Hui, Head, Customer Proposition Development and Marketing of Affin Bank Berhad. The signing was witnessed by Mr. Richard Lin, Executive Director and CEO of HLG Asset Management Sdn Bhd.
"We are confident that with each of our appointed distributors’ esteemed brand name as well as HLG Unit Trust Bhd’s track record in the fund management industry, we are able to provide to investors our latest and most innovative fund to date,” said Lin.
The HLG Global Resources Income Fund is designed for investors who are seeking a regular income stream and stable investment returns. The Fund is also suitable for investors who are seeking diversification in their investment holdings through global exposure as well as potential for long-term capital appreciation from investments in the global resources sectors.
The Fund will invest in global equity securities of companies involved in the extraction, processing, transportation and distribution of natural resources of any kind in any part of the world. A portion of the Fund will also be invested into Malaysian fixed income securities to seek regular income and stability of capital.
The HLG Global Resources Income Fund has a total approved fund size of 800 million units priced at RM 0.50 per unit during the initial offer period (from November 13 2006 till December 3 2006). Minimum initial investment for HLG Global Resources Income Fund is RM 1,000 while the minimum additional investment is RM 100.
HLG Global Resources Income Fund is distributed through both HLG Unit Trust Bhd’s agency force as well as the said IUTAs.
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.
The company already manages 19 unit trust funds to date, 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 October 31 2006, HLG Unit Trust Bhd has a combined total fund size of RM 1.88 billion.
About Hong Leong Group Malaysia
From its humble beginnings as a trading company in 1963, Hong Leong Group Malaysia has expanded steadily in tandem with the growth of the nation of Malaysia through entrepreneurship, investment foresight and innovation to its present size and position with core businesses rooted in key sectors. Based in Malaysia, the Group today controls 14 listed companies in various stock exchanges around the world with a total market capitalisation circa USD 11 billion and over 500 operating subsidiaries and associate companies. The Group's globally diversified core businesses are firmly rooted in the key sectors of financial services, manufacturing & distribution and property development & investment.