KUALA LUMPUR, Dec 1 — TA Investment Management Bhd has declared a gross income distribution of 1.8 sen per unit for TA South East Asia Equity Fund (Tasea) and a 1.0 sen per unit for the respective share classes of TA Flexible Asian Bond Fund (Tafab) to the registered unit holders of the funds as at November 30, 2021.
In a statement, TA Investment said Tasea, which aims to provide long-term capital growth of fund assets by investing primarily in listed equities and equity related instruments in Southeast Asia, has achieved a total return of 29.28 per cent over the past year.
“With vaccination rates higher across Asean, the various governments are adopting a “Learning to live with it” strategy and re-opening the economies progressively. Thus, 2022 should be the year of recovery for Asean,” it said.
TA Investment noted that Asean countries are expecting economic growth of more than 5 per cent, which would be higher than China’s forecast growth of 5 per cent for 2022 for the first time since the 1990s.
Inflation has also increased due to the base effect, pent-up demand, higher energy costs and supply chain disruptions, it said.
“However, it should taper off in the second half of 2022,” it said.
Meanwhile, Tafab has delivered returns of 2.71 per cent in ringgit terms for its MYR Hedged share class over a one-year period up to October 31, 2021.
Tafab invests a minimum of 95 per cent of its net asset value in the Threadneedle (Lux) — Flexible Asian Bond with the remainder in liquid assets.
“The macroeconomic outlook in Asia has become encouraging with economic growth expected to be more broad-based across all markets towards the end of the year,” it said.
TA Investment noted that Covid-19 would remain a risk to financial markets especially with new variants surfacing in several parts of the world. — Bernama