TA Investment Management Bhd (TAIM) has declared a gross income distribution of 2.0 sen for TA Comet Fund (TACF) and 1.7 sen for TA Asia Pacific Islamic Balanced Fund (TAIB) to the registered unit holders of the Funds as at 28 September.
Emerging and developing Asia is expected to grow at around 6.5 per cent over 2018 to 2019, broadly the same pace as in 2017 regardless of the United States (US)-China trade war which has inflicted collateral damage on the region’s export-reliant economies.
The region continues to account for over half of the world growth. China’s economy is expected to grow in 2019 despite slower than forecasted previously, the fund manager is currently taking advantage of the underweight of Chinese equities as China is beginning to rebound and we expect some money to flow back to China.
South Asia is poised to remain as the fastest growing in the region and maintained its growth estimates of 7.0 per cent for this year and 7.2 per cent for next year.
While stronger oil prices are helping a recovery in domestic demand in oil exporters, including Saudi Arabia, the fiscal adjustment that is still needed is projected to weigh on growth prospects.
As for Malaysia, the fund manager remains defensive in the short term as fund manager is waiting for markets to correct, the fund manager will also continue to evaluate and search for value stocks to buy at appropriate lower levels.
It is also expected that the equity market will stabilise by the fourth quarter of the year with opportunity for markets to rebound, the budget announcement in November may provide some catalysts for the Malaysian market.
TACF aims to provide a channel for investors to invest in low-priced securities offering good value with great upside potential with a view of diversifying towards medium-priced securities and blue chips as the market moves higher over the medium to the long term.
TAIB aims to provide steady income and capital growth over the medium to long-term period by focusing its investment in local and Asia Pacific listed and unlisted equities, equity related securities, fixed income securities, participation in mutual funds and other interests in collective investment schemes which are permitted under the Guidelines and complies with Shariah requirements.