KUALA LUMPUR, March 29 (Bernama) -- Eastspring Investments Berhad today announced the gross income distribution for Eastspring Investments Asian High Yield Bond MY Fund (“Fund”). The Fund is a wholesale feeder fund which aims to maximise income and capital appreciation by investing in the Eastspring Investments - Asian High Yield Bond Fund (“Target Fund”), which invests primarily in Asian high yield bonds.
The distribution rates for each currency class are as follows:
The distribution rates for each currency class are as follows:
| Currency Class | Gross Distribution (Respective Currency/Unit) | Dividend Yield (based on net asset value per unit as at 28 Feb 2018) | Type of Distribution |
AUD Hedged- Class | 0.0228 | 4.75% | Quarterly |
| RM Hedged-Class | 0.0315 | 6.00% | Quarterly |
| USD Class | 0.0174 | 3.50% | Quarterly |
All unit holders who have maintained their unit holdings in the Fund as at 28 March 2018 will be entitled to the income distribution.
Market Outlook from the Investment Manager of the Target Fund
Month-to-date, USD high yield bonds returned -0.93% during the month. At the index level, the top performing sectors were Transportation (-0.13%), Financial Services (-0.34%), and Telecommunications (-0.41%), while the worst performing sectors were Energy (-1.88%), Banking (-1.58%), and Basic Industry (-1.21%).
January seems so long ago. Following a strong opening month of 2018, especially for equity markets, volatility returned in February. The market sold off early in the month on stronger-than-expected wage data (average hourly earnings, followed later by core CPI), leading to speculation around potential effects on overall inflation and the pace of rate hikes. Interest rates also continued to increase. However, the month proved to be more of a rollercoaster – falling precipitously before rebounding somewhat.
The US Treasury curve continued to shift upward in February, but to a lesser extent than January. The curve modestly steepened, somewhat reversing its flattening trend from 2017. 2-, 10- and 30-year yields rose 11 bps, 15 bps and 18 bps, respectively, in February.
High yield funds experienced continued outflows through February, with -$9.1B leaving mutual funds and ETFs as participants fled high yield during last month’s volatility. This brings YTD outflows to -$12.9B, which followed -$17.5B in 2017.
Based on the most recent BofA-ML US HY Market Statistics Report for Q4 2017, aggregate high yield issuer leverage was 4.1, coverage was 3.9 and year-over-year EBITDA percentage change was 26.3%.
ABOUT EASTSPRING INVESTMENTS
Eastspring Investments is a leading asset manager in Asia that manages over USD170 billion assets on behalf of institutional and retail clients as at 30 June 2017. Operating in Asia since 1994 in 10 major markets plus offices in North America and Europe. Eastspring Investments is the Asian asset management business of Prudential plc, one of the world’s largest financial services companies.
ABOUT EASTSPRING INVESTMENTS BERHAD
Established in 2000 and based in Kuala Lumpur, Eastspring Investments Berhad is one of the leading asset management companies in Malaysia in both institutional and retail, with over RM40 billion in assets under management in the country as at 30 June 2017. It manages unit trust funds, wholesale funds as well as private mandates.
SOURCE : Eastspring Investments Bhd
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