KUALA LUMPUR: Hong Leong Asset Management Bhd (Hong Leong AM) has declared an income distribution amounting to RM292 million for the period of Jan 1-July 31, 2021.

       "By staying committed to a rigorous approach on our investment philosophy and strategy, we aim to deliver a consistent and sustainable distribution yield to our investors amid the ongoing uncertainty in the market,” said its chief executive officer Hoo See Kheng in a statement today.

       The asset management firm is optimistic about a market recovery in the fourth quarter of 2021 and is anticipating an improvement of corporate earnings with the reopening of the economy, following the encouraging vaccination progress in the country.

       It also believed that its bottom-up stock picking strategy would be able to achieve the funds’ respective objectives, capital growth and distribution yield.

       Hong Leong AM is an asset management company within the Hong Leong Financial Group of companies.

       The company establishes and distributes unit trust funds, wholesale funds and customised portfolio solutions to the retail and institutional segments. - Bernama