KUALA LUMPUR, Oct 27 (Bernama) -- Eastspring Investments Berhad today announced the gross income distribution for Eastspring Investments Target Income Fund 4 (“Fund”):
| Financial Year End |
(RM/Unit)
| Dividend Yield as at 30 September 2017 | Type of Distribution | ||
| Eastspring Investments Target Income Fund 4 | 30 September | 0.0592 | 5.75% | Annual |
All unit holders who have maintained their unit holdings in the Fund as at 26 October 2017 will be entitled to the income distribution.
This 5 year closed-ended bond fund is the fourth in a series of target income funds. This distribution is consistent with the Fund’s objective which endeavours to provide regular income[1] during the tenure of the Fund.
Market Outlook from the External Investment Manager, Eastspring Investments (Singapore) Limited
The Asian USD bond market (represented by the JP Morgan Asia Credit Index) reported a gain of 0.94% in August. The positive performance was driven by lower US Treasury (UST) yields as Asian credit spreads were range-bound. During the month, UST yields fell as renewed geopolitical tensions with North Korea and political uncertainty in the US supported "safe haven" bids for US Treasuries. The rising risk of fiscal brinkmanship in the US had raised concerns over a potential breach in the debt ceiling, and consequently, government shutdown. Lacklustre inflation prints, as well as a lack of insight on the Federal Reserve’s (Fed) policy outlook from Fed Chairwoman Janet Yellen during the Jackson Hole symposium further kept a lid on UST yields. 10-year UST yields closed the month lower by 18bps.
The high yield sector outperformed the investment grade sector over the month. High yield sovereign bonds led the charge, with Sri Lankan and Mongolian sovereign bonds driving the outperformance. High yield corporates also held up well, led by Chinese high yield property developers following better-than-expected corporate earnings announcements. Within the investment grade space, Korean bonds weighed on performance across sectors, particularly in the corporate space. On the other hand, investment grade sovereign and quasi-sovereign bonds turned in decent returns over the month as their long duration profiles benefited from the fall in UST yields.
Asian USD bonds have had a decent showing over the year-to-date period. Yield-seeking behavior was strong in Asia as investors generally brushed off macroeconomic and geopolitical concerns globally. Treasury return was also supported by declines in longer term UST yields on the back of soft inflation numbers. Investor demand for yield helped to prop up the performance of high yield sovereign bonds which outperformed over the year. This was followed by investment grade sovereign bonds, which was driven higher by Indonesia following its sovereign rating upgrade by S&P. Corporate bonds also held up well, with high yield corporate bonds outperforming investment grade corporate bonds over the year-to-date period.
[1] Income declared will be paid out either by way of E-payment according to unit holders’ instructions in the account opening form or by cheque.
ABOUT EASTSPRING INVESTMENTS
Eastspring Investments is a leading asset manager in Asia that manages over US$170 billion assets on behalf of institutional and retail clients as at 30 June 2017. Operating in Asia since 1994 in 10 major Asian 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 BERHAD
The Asian USD bond market (represented by the JP Morgan Asia Credit Index) reported a gain of 0.94% in August. The positive performance was driven by lower US Treasury (UST) yields as Asian credit spreads were range-bound. During the month, UST yields fell as renewed geopolitical tensions with North Korea and political uncertainty in the US supported "safe haven" bids for US Treasuries. The rising risk of fiscal brinkmanship in the US had raised concerns over a potential breach in the debt ceiling, and consequently, government shutdown. Lacklustre inflation prints, as well as a lack of insight on the Federal Reserve’s (Fed) policy outlook from Fed Chairwoman Janet Yellen during the Jackson Hole symposium further kept a lid on UST yields. 10-year UST yields closed the month lower by 18bps.
The high yield sector outperformed the investment grade sector over the month. High yield sovereign bonds led the charge, with Sri Lankan and Mongolian sovereign bonds driving the outperformance. High yield corporates also held up well, led by Chinese high yield property developers following better-than-expected corporate earnings announcements. Within the investment grade space, Korean bonds weighed on performance across sectors, particularly in the corporate space. On the other hand, investment grade sovereign and quasi-sovereign bonds turned in decent returns over the month as their long duration profiles benefited from the fall in UST yields.
Asian USD bonds have had a decent showing over the year-to-date period. Yield-seeking behavior was strong in Asia as investors generally brushed off macroeconomic and geopolitical concerns globally. Treasury return was also supported by declines in longer term UST yields on the back of soft inflation numbers. Investor demand for yield helped to prop up the performance of high yield sovereign bonds which outperformed over the year. This was followed by investment grade sovereign bonds, which was driven higher by Indonesia following its sovereign rating upgrade by S&P. Corporate bonds also held up well, with high yield corporate bonds outperforming investment grade corporate bonds over the year-to-date period.
[1] Income declared will be paid out either by way of E-payment according to unit holders’ instructions in the account opening form or by cheque.
ABOUT EASTSPRING INVESTMENTS
Eastspring Investments is a leading asset manager in Asia that manages over US$170 billion assets on behalf of institutional and retail clients as at 30 June 2017. Operating in Asia since 1994 in 10 major Asian 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 BERHAD
FOR MORE INFORMATION, PLEASE CONTACT:
Name : Judy Yap
Director, Brand and Communications
Tel : 03 - 2170 0290
Fax : 03 - 2170 0399
Email : judy.yap@eastspring.com
Director, Brand and Communications
Tel : 03 - 2170 0290
Fax : 03 - 2170 0399
Email : judy.yap@eastspring.com
--BERNAMA
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