Petaling Jaya, 25th April 2023
Areca Capital would like to announce its net income distribution for the Areca Progressive Income Fund 3.0 (APIF3) at 1.86 sen per unit.
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 13.73% as of the 19th of April 2023, as compared to its benchmark’s (Maybank’s 12-month fixed deposit rate) total return of 3.87%.
Performance (%)
Return | July 2021 to April 2023 (total returns for the period) |
Areca Progressive Income Fund 3.0 | 13.73% |
Maybank’s 12-month fixed deposit rate | 3.87% |
Source: Lipper for Investment Management. Data as of 19th April 2023.
For further enquiries, please contact us at invest@arecacapital.com or call 603-7956 3111.