Petaling Jaya, 19th May 2022

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

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

APIF aims to provide a combination of income and incidental capital growth. Since the fund started investing in August 2018, APIF has generated a total return of 30.57% as of the 30th of April 2022, as compared to its benchmark’s (Maybank’s 12-month fixed deposit rate) total return of 9.21%.

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.