ARECA CAPITAL DECLARES INCOME DISTRIBUTION FOR ARECA PROGRESSIVE INCOME FUND 3.0

Petaling Jaya, 10th November 2022

Areca Capital would like to announce its net income distribution for the Areca Progressive Income Fund 3.0 (APIF3) at 2.0 sen.

The Fund invests into the Redeemable Preference Shares (RPS) issued by Nova Resources Management Sdn Bhd which is a wholly-owned subsidiary of Nova Mulia Development Sdn Bhd. The latter is the developer for Grace Residence, a 44-storey condominium with 378 units located in Jelutong, Pulau Pinang.

APIF3 aims to provide a combination of income and incidental capital growth. Since the fund relaunched its new strategy in July 2021, APIF3 has generated a total return of 10.04% as of the 31st of October 2022, as compared to its benchmark’s (Maybank’s 12-month fixed deposit rate) total return of 2.55%.

Source: Lipper for Investment Management. Data as of 31st October 2022.

Disclaimer: Investors are advised to read and understand the contents of the Master Prospectus (MP), Information Memorandum (IM) and Product Highlight Sheet (PHS) for the individual funds before making any investment decision. Amongst others, investors should also consider the fees and charges involved. The prices of units and distributions payable, if any, may fall and rise. Past performances of the Fund are not indicative of future performance. Prices can go down as well as up and you may not get back the amount you originally invested. Investors are advised to consider the different types of risks that may affect the unit trust fund. For more information concerning certain risk factors, please refer to the MP,IM and PHS.

For further enquiries, please contact us at invest@arecacapital.com or call 603-7956 3111.