KUALA LUMPUR: Malayan Banking Bhd’s (Maybank) closed-end fund Fortune8, targets RM300 million in sales when it closes on Dec 31.
It said yesterday that the Fortune8 is a single premium and capital guaranteed investment-linked insurance plan. It is a closed-end three-year, six-month investment-link plan.
The fund provides a guaranteed investment return and capital protection on the investment with additional potential upside return from the performance of commodity prices.
Lim Hong Tat, Maybank deputy president and head of community financial services, said Fortune8 provides potential upside return apart from guaranteeing 100% of the capital on maturity and paying a 5% guaranteed cash payout at the end of the 18th policy month.
“Customers can start investing with a minimum investment of RM15,000 and additional investments in multiples of RM1,000,” he said.
“The fund provides exposure to commodities as a hedge against the global inflationary environment, including items such as food, transport and many more. Commodities are able to protect investors from the short-term effects of inflation while providing capital appreciation,” he said.
Fortune8 investors can choose to invest in commodities like energy, precious metals, industrial metals, agriculture and livestock.
Lim said Fortune8 is in line with Maybank Group’s strategy to extend its asset management business, not only in Malaysia but regionally.
“Given the growing demand from customers for a diversified range of investment products, especially from those with a low risk profile, we believe that Fortune8 will provide them the confidence to invest even in volatile market conditions,” Lim said.
It said yesterday that the Fortune8 is a single premium and capital guaranteed investment-linked insurance plan. It is a closed-end three-year, six-month investment-link plan.
The fund provides a guaranteed investment return and capital protection on the investment with additional potential upside return from the performance of commodity prices.
Lim says Fortune8 is
in line with Maybank's
strategy to extend its
asset management
business, not only in
Malaysia but regionally.
in line with Maybank's
strategy to extend its
asset management
business, not only in
Malaysia but regionally.
Lim Hong Tat, Maybank deputy president and head of community financial services, said Fortune8 provides potential upside return apart from guaranteeing 100% of the capital on maturity and paying a 5% guaranteed cash payout at the end of the 18th policy month.
“Customers can start investing with a minimum investment of RM15,000 and additional investments in multiples of RM1,000,” he said.
“The fund provides exposure to commodities as a hedge against the global inflationary environment, including items such as food, transport and many more. Commodities are able to protect investors from the short-term effects of inflation while providing capital appreciation,” he said.
Fortune8 investors can choose to invest in commodities like energy, precious metals, industrial metals, agriculture and livestock.
Lim said Fortune8 is in line with Maybank Group’s strategy to extend its asset management business, not only in Malaysia but regionally.
“Given the growing demand from customers for a diversified range of investment products, especially from those with a low risk profile, we believe that Fortune8 will provide them the confidence to invest even in volatile market conditions,” Lim said.
