Kuala Lumpur, April 5 – BIMB Investment Management Bhd (BIMB Invest), a wholly-owned subsidiary of Bank Islam Malaysia Berhad, declared 7.1% (MYR class) and 6.9% (USD class) income distribution yield for its multi-currency global Shariah-ESG equity fund, the BIMB-Arabesque i Global Dividend Fund 1, exceeding its benchmark target of 6%.
BIMB Invest’s Chief Executive Officer Najmuddin Mohd Lutfi said, “We thank our investors for their support and remained invested in our fund and we are pleased to have delivered 7.1% (MYR class) and 6.9% (USD class) income distribution yield, exceeding the target benchmark of 6%.”
Najmuddin added; "Our global Shariah-ESG equity fund, the BIMB-Arabesque i Global Dividend Fund 1, uses artificial intelligence and big data technology in its investment process.”
He said the investment process removes human biases and intuition, to construct the best combination of stocks from a universe of 77,000 global listed companies to form a portfolio of up to 100 stocks daily by using more than 1,600 selection criteria that process more than 100 billion data points.
The fund rebalances its portfolio on a daily basis between equity and cash for sustainable risk adjusted investment returns. The systematic and rules-based quantitative investment approaches also take into account Environmental, Social and Governance (ESG) data to invest in companies with sustainable financial future.
“The BIMB-Arabesque i Global Dividend Fund 1 saw a total return of 22.24%* over the one-year period ended 24 March 2017. This was higher than the average return of Islamic equity global category and the conventional equity global of 16.12%* and 19.69%* respectively during the same period. (*source: The Edge Weekly, 3 April 2017).”