Kuala Lumpur: CIMB-Principal Asset Management Berhad (“CIMB-Principal”) has announced a 2-for-5 unit split for existing unitholders of its CIMB Islamic DALI Equity Fund (formerly known as SBB Dana Al-Ihsan 2) effective 15 December 2009.

“The Fund has demonstrated considerable strength in its performance and a healthy appreciation in value for investors since March this year. With this unit-split exercise, current investors will receive 2 new units for every 5 units he or she holds, while maintaining the value of total holdings before and after the split,” said J. Campbell Tupling, Chief Executive Officer of CIMB-Principal. He added that the Fund is prudently managed with a view to optimising returns to investors at acceptable levels of risk.

“We believe that a recovery in the market and economy is in the initial stages and the uptrend cycle is very much intact. In fact, the good news is that the recovery is coming faster than expected,” Tupling said.

With a fund size of RM115.30 million as at 4 December 2009, the Fund places emphasis on achieving consistent capital growth over the medium to long term through investments in permissible instruments in accordance to Syariah principles and regulatory policies. According to the Securities Commission's guidelines, unit splits can only be declared should a fund's average net asset value (NAV) be on a consistent appreciation for six consecutive months.

Tan Beng Wah, Chief Executive Officer of CIMB Wealth Advisors also noted, “With the current uptrend on equity funds, we believe that this is a good opportunity for those who are not invested to consider the Fund.”

Read article below which appeared in major daily:

• The Edge Financial Daily

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