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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 per cent cash dividend for 2018-19.
On 02 May 2019, The Trustee Committee of the fund approved the audited financial statements for the year ended on 31 March 2019 and approved 12.0 per cent cash dividend, said a statement.
The declaration represents a payout ratio of 70 per cent and a dividend yield of 11.8 per cent based on investor's purchase price of BDT 10.17 per unit which is also the market-based NAV on 05 May 2019.
ATCP AML maintained its legacy in declaring cash dividend since the inception of the fund in November 2016.
In 2017-18, the first full completed year, the fund declared a cash dividend of 8.0 per cent with a payout ratio of 148.0 per cent. 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, media and other stakeholders for their ongoing support on managing the fund, the statement added.