FBM KLCI ETF announces 2.8 sen dividend

By MARK RAO/FILE PIX

The FTSE Bursa Malaysia KLCI Exchange Traded Fund (FBM KLCI ETF) has declared a 2.8 sen interim dividend taking its total dividends for the financial year ended Dec 31, 2017, to 3.3 sen per unit.

The ETF is managed by AmInvestment Services Bhd and is the first equity ETF to be traded on Bursa Malaysia benchmarked against the KLCI.

AmFunds Management Bhd acting CEO Goh Wee Peng said the local equity market stands a “good chance” of catching up to regional peers in 2018 after noting a 9.5% growth last year.

“We have upgraded the local market outlook to positive as we foresee a surge of domestic and foreign demand, oil price recovery as well as expectations for the ringgit to remain firm,” she noted in a statement today.

“This view has led us to favour sectors such as financials, oil and gas, consumer staples and export that would likely benefit from the robust external growth and the impending general election this year.”

The ETF registered a total return of 12.1% last year.The Malaysian ETF market had a RM1.95 billion market capitalisation in February this year with a trade volume of 440,000 units for RM780,000.

There are a total of nine ETFs presently listed on Bursa Malaysia.