We wish to draw your attention to the Inland Revenue Board’s directive, effective 1 July 2022, on Tax Treatment concerning Income Received from Abroad (Amendment) stating that any income distribution derived from foreign funds, also known as “Foreign-Source Income” (FSI), for all unit trusts invested outside Malaysia, will be subjected to FSI Tax at the prevailing rate of 24%.
This directive affects fund prices, including the BIMB-ARABESQUE i Global Dividend Fund 1 (BiGDF1). Coupled with the adverse global market movements in 2022 that impacted target funds’ performance and income distribution capabilities, the management regrets informing investors that we are not able to distribute income made for BiGDF1 for the financial year ending 31 March 2023.
For example:
The current price of BiGDF1 is RM1.00 per unit. After a 10% or RM0.10 per unit dividend (assuming no tax reduction is allowed), the fund will bear the FSI tax of RM0.10 x 24% = RM0.024 per unit. As a result of this tax, the price of BiGDF1 will decrease to RM0.9760 per unit, which is a 2.4% decline in value.
We greatly appreciate investors’ trust and are committed to providing value to investors. We will make every effort to ensure income distribution in the future, subject to the income performance and based on realised income for the period.
Please get in touch with us at marketing.bimbinvest@bankislam.com.my or +603-21612524 (General Line) / 1800-88-1196 (Toll-Free) for any enquiries.
The content of BIMB Investment Management Berhad website is intended for your general information only. The information on this website inclusive of the master
prospectus and/or fund prospectus and/or its supplemental (if any) is deemed not to be an offer to sell or a solicitation of an offer to buy units in the fund,
nor shall any such units be offered or sold to any person in any jurisdiction in which such an offer, solicitation, purchase or sale would be unlawful under the
securities laws or relevant laws of such jurisdiction.
We recommend that you read and understand the contents of the master prospectus and/or fund prospectus and/or its supplemental (if any) featured in this website,
all of which have been registered with the Securities Commission Malaysia, who takes no responsibility for the contents before investing in any of the funds offered
by BIMB Investment Management Berhad. No units will be issued on the basis of the prospectus after its expiry date. Upon the expiry date, the issuance, circulation or
distribution of the prospectus herein is made available purely for informational and archiving purposes only.
Any other information that falls outside of the designated area of the electronic prospectus does not form part of the electronic prospectus and that the unit trusts
are offered solely on the basis of the information contained in the electronic prospectus.
BIMB Investment Management Berhad is responsible for the issuance, circulation or dissemination of the electronic prospectus stated above. The same is also available
in printed format. The printed copy of the master prospectus and/or fund prospectus and/or its supplemental (if any) and the application form can be obtained from BIMB
Investment Management Berhad's office authorised consultants or institutional unit trust advisers or our authorised distributors. Investments can only be made by
completing the application form attached to the prospectus.
There are fees and charges involved in investing in the funds. We suggest that you consider these charges carefully prior to making an investment decision. The price
of units and distribution, if any, may go down as well as up. Past performance and income distributions are not guaranteed and may not be reflective of future
performance and income distributions.
Each of the funds referred to in this website is intended only to be made available in Malaysia and offered only to persons in Malaysia. Persons resident in territories
other than Malaysia should consult their professional advisers as to whether they require any governmental or other consents or need to observe any formalities to enable
them to invest in these funds or to determine if these funds may be lawfully sold in their jurisdiction.
If investors are in any doubt of any feature or nature of the fund, they should consult their financial or other professional advisor. Unit transactions cannot be
conducted through this website. Customers can contact BIMB Investment Management Berhad at 1-800-88-1196 to obtain further information concerning any of our unit trust
funds.
BIMB Investment Management Berhad is responsible for the electronic prospectus and electronic application form that are posted within this internet site.
By clicking on the Continue, you have read and understood the contents of the prospectus and its supplemental (if any).
Note:
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