Malaysia Market: TA Investment declares 3 sen income distribution for TA Comet Fund

KUALA LUMPUR: TA Investment Management Bhd (TAIM), which declared a gross income distribution of 3 sen per unit to unitholders of its TA Comet Fund, expects market conditions to improve only in 4Q11 given high volatility in markets currently.

In a statement Monday, Oct 3, TAIM said the global economic situation continued to be fluid with much weaker numbers coming out from the US, Europe and China.

Rising risk aversion was driving investors to seek shelter in money markets, fixed income instruments and gold, despite what it described to be high prices.

"We feel that the equity valuation has dropped to near crisis level while commodities prices are at fair value,” it said.

However, TAIM said that investors were not rushing to buy given the current uncertainties.

"We do expect markets to continue to exhibit high volatility for the next few months and the light that we are looking for may only be convincingly noticeable in the fourth quarter of the year," it added.(theedgemalaysia.com)