ARECA CAPITAL DECLARES INCOME DISTRIBUTION FOR ARECA PROGRESSIVE INCOME FUND 3.0

Petaling Jaya, 6th May 2022

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

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 6.04% as of the 30th of April 2022, as compared to its benchmark’s (Maybank’s 12-month fixed deposit rate) total return of 1.38%.

Source: Lipper for Investment Management. Data as of 30th April 2022.

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