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First distribution from Pacific Mutual Fund Berhad for the new year. The NAV price is RM 0.5532 as of 4th January 2007. (Selling price is RM 0.5808)

From Pacific Mutual Fund’s website…

Petaling Jaya 3 January – Pacific Mutual Fund Bhd, the unit trust arm of PacificMas Berhad, has announced an income distribution of 5 sen per unit for its Pacific Dividend Fund.

This translates to a yield of 8.41% for investors of Pacific Dividend Fund based on the net asset value (NAV) of the Fund prior to the distribution.

According to CEO/CIO of Pacific Mutual, Michael Auyeung, “We are especially pleased to note that the Pacific Dividend Fund, a local fund with the aim of searching for stocks that pay or have the potential to pay attractive dividends, has performed very well since inception. The Fund, one of the earliest dividend funds introduced in the country, was launched three years ago, and within this period of time has achieved a total return of 42.25%.� (Source: Standard & Poor’s Fund Services)

Auyeung added that the Fund was able to attain such a commendable performance due to the fact that the stock selection process for this Fund is not merely based on existing high dividend criteria. In the search for high dividend yielding stocks, fund managers of Pacific Mutual also undertake fundamental analysis to determine the future prospects of these listed companies, the prospects of the industries they are operating in and the overall macroeconomic picture. These factors in turn have a bearing on the future dividends paid by these companies.

Further to this, Auyeung said that a key contributing factor to the good performance of the Fund is the ability of the in-house investment team to identify companies that may not have a dividend track record yet, but may be in a position to undertake a dividend payment in the future or those companies that may be in a position to effect capital repayments. The stocks of these companies may be at a more attractive price level as compared to stocks which already have a good dividend track record, as they are relatively undiscovered “gems�.

Pacific Mutual now manages a total of 15 Funds, of which four are funds with global exposure. As at end of 2006, it has close to 60,000 accounts under its management worth RM1.6 billion.

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