I-VCAP to introduce new exchange traded fund

KUALA LUMPUR: i-VCAP Management Sdn Bhd (i-VCAP) plans to introduce a new exchange traded fund (ETF) this year to create greater depth and variety for investors, while boosting the local ETF market.

Chief executive officer Mahdzir Othman said coupled with the four existing ETFs under its management, i- VCAP will continue to drive and promote ETFs domestically as well as Islamic ETFs globally.

“Investors' awareness and understanding of ETFs as an attractive investment option has grown over the years.

“There is therefore room to grow in terms of leveraging this awareness and translate to actual investing in the secondary market,” he said in a statement.

Mahdzir said the company will continue its investors' educational activities and brand awareness initiatives, particularly among retail investors, and remains optimistic that investors will increasingly embrace and use ETFs in their investment portfolio.

Today, the fund management declared the income distribution for the funds under its MyETF Series of ETFs, namely the MyETF Dow Jones Islamic Market Malaysia Titans 25, MyETF MSCI-Malaysia Islamic Dividend and MyETF MSCI SEA Islamic Dividend for the financial year ended Dec 31, 2016.

A total of RM8.25 million has been allocated for the income distribution of MyETF series.

For the local underlying ETFs, the unit holders will receive 2.23 sen and 1.52 sen per unit respectively, and the entitlement date for the income distribution is March 3.

Payment is set for March 30. — Bernama