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Monday, August 2, 2010

Public Mutual declares over RM184 million income distributions for its investors

Public Bank’s wholly-owned subsidiary, Public Mutual, declared distributions totaling more than RM184 million for eight of its funds. The company also declared unit splits for two of the funds. The gross distributions and unit splits declared for the respective funds for the financial year ended 31 July 2010 are as follows:

Fund -----------------------------------Unit Split-----------Gross Distribution
----------------------------------------------------------------(sen per unit)

Public Growth Fund -----------------------( - )-------------- 5.00

Public Islamic Opportunities -------------( - )-------------- 2.50

Public Islamic Select Enterprises Fund --( - )-------------- 1.25

Public Far-East Property & Resorts Fund -( - )-------------- 0.50

Public Bond Fund ------------------------( - )--------------- 5.00

Public Islamic Select Bond Fund ---------( 1:50 )--------------- 5.00

Public Islamic Income Fund --------------( 1:25 )--------------- 3.50

PBB MTN Fund 1 -------------------------- ( - )--------------- 2.00

According to The Edge-Lipper Fund Table dated 26 July 2010, Public Growth Fund and Public Islamic Opportunities Fund have generated one-year returns of 18.10% and 28.35% respectively for the period ended 16 July 2010. Public Islamic Opportunities Fund is an award-winning Islamic small-cap fund, having won Failaka Islamic Fund Awards 2009 for Best Malaysian Fund, 3 years category.

Meanwhile, Public Islamic Select Enterprises Fund which is open for EPF Members Investment Scheme generated a one-year return of 13.57% for the period ended 16 July 2010. Public Far-East Property & Resorts Fund which focuses its investments in property, hotel and resorts stocks, and Real Estate Investment Trusts (REITs) generated a one-year return of 6.72% over the same period which is above its benchmark return of 1.38%.

On bond funds, Public Bond Fund, Public Islamic Select Bond Fund and Public Islamic Income Fund, recorded one-year returns of 7.67%, 6.18% and 4.90%, respectively for the period ended 16 July 2010. Public Bond Fund is also an award-winning fund, having garnered a total of 24 awards to date, while Public Islamic Income Fund is open for EPF Members Investment Scheme.

PBB MTN Fund 1, on the other hand, is a close-ended wholesale bond fund. The fund was launched in November last year to provide a steady stream of income returns through investment in subordinated medium-term notes issued by Public Bank Berhad.

All of these funds are distributed by Public Mutual unit trust consultants except for PBB MTN Fund 1, which is distributed via Public Bank branches nationwide.

Public Mutual is Malaysia’s largest private unit trust company with 78 funds under management. It has over 2,320,000 accountholders and as at 30 June 2010, the total net asset value of the funds managed by the company was RM36.5 billion.