MAAKL Declares Dividend Distribution for MAAKL-HW Shariah Flexi Fund
Kuala Lumpur, 4 February 2014 - MAAKL (pronounced ‘mac kle’) Mutual today declared a dividend distribution for its MAAKL-HW Shariah Flexi Fund for the financial year ended 31 January 2014.
All unitholders who maintained their units in MAAKL-HW Shariah Flexi Fund as at 31 January 2014 are entitled to receive the gross distribution, which represents a yield of 8.4% since the Fund’s inception1.
Mr. Wong Boon Choy, Chief Executive Officer and Executive Director of MAAKL, said: “We are pleased to announce this dividend distribution for the MAAKL-HW Shariah Flexi Fund. The payout adds to the already attractive 29.3% return the Fund generated during calendar year 20132 despite challenging economic conditions.”
He added: “The MAAKL-HW Shariah Flexi Fund is part of our range of Islamic funds suitable for investors seeking investments which conform to Shariah requirements. The Fund is one of the five offered under MAAKL’s unique ‘Flexi Series of Funds’ which are managed under a multi-fund manager approach, giving investors the option to further diversify their investments by choosing among a selection of highly credible fund managers.”
The MAAKL-HW Shariah Flexi Fund is a mixed-asset Islamic growth fund which seeks to provide unitholders with long-term capital appreciation – long-term in this context refers to a period of at least five years. The Fund is designed for investors who are willing to accept a medium to high level of risk, who seek investments which conform to Shariah requirements, who do not seek a regular income stream and ideally have an investment horizon of at least five years.
1 Based on average net asset value per unit from the Fund’s 18 October 2012 inception to 21 January 2014.
2 As of 27 December 2013. Source: The Edge-Lipper Fund Table, 6 January 2014.