The Trustee Committee of the fund approved the audited financial statements for the year ended on 31 March 2019 and approved 12.0% cash dividend on Thursday
ATC Shariah Unit Fund, an open-end Islamic Mutual Fund, managed by Asian Tiger Capital Partners Asset Management Limited (ATCP AML), declared a 12.0% cash dividend for 2018-19 against 8.0% cash dividend in the previous year, said a press release.
The Trustee Committee of the fund approved the audited financial statements for the year ended on 31 March 2019 and approved 12.0% cash dividend on Thursday.
This declaration represents a payout ratio of 70% and a dividend yield of 11.8% based on investor’s purchase price of Tk10.17 per unit which is also the market-based NAV yesterday.
ATCP AML maintained its legacy in declaring cash dividend since the inception of this fund in November 2016. In 2017-18, the first full completed year, the fund declared a cash dividend of 8.0% with a payout ratio of 148.0%. ATCP AML desires to maintain its high payout ratio in coming years.
ATCP AML believes to maintain its superior performance in the coming years, mainly attributable to the intellectual guidelines from experienced investment committee, superior skill set of portfolio management and operations team with dedicated efforts.
Besides fundamental outlook of a scrip, active engagement with market participants, market intelligence, and usage of other assistive tools, e.g. - technical analysis, are also used in unearthing new investment opportunities.
Furthermore, the portfolios of ATCP AML managed funds are actively monitored on a daily basis and re-balanced as necessary.
ATCP AML thanked and congratulated all the unit holders of the fund for their trust and confidence in Asian Tiger Capital Partners Asset Management.
The company also thanked the Bangladesh Securities and Exchange Commission, DSE, CSE, News Media and other stakeholders for their ongoing support on managing the fund.