Lim Hong Tat
KUCHING: Malayan Banking Bhd’s (Maybank) latest single premium and capital guaranteed investment-linked insurance plan, Fortune8, is targeting to achieve its cap of RM300 million in sales by the time the fund closes on Dec 31, 2011.
Fortune8 is a closed-end three-year, six-month investment-linked plan that provides a guaranteed investment return and capital protection on the investment with additional potential upside return from the performance of commodity prices.
“Fortune8 provides upside return apart from guaranteeing 100 per cent of the capital on maturity and paying a five per cent guaranteed cash payout at the end of the 18th policy month,” said its president and head of community financial services Lim Hong Tat in a press release yesterday.
Customers can start investing with a minimum investment of RM15,000 and additional investments in multiples of RM1,000.
“The fund provides exposure to commodities as a hedge against the global inflationary environment, including items such as food, transportation and many more. Commodities are able to protech investors from short term effects of inflation while providing capital appreciation,” he added.
“The fund is particularly suited to investors looking for added peace of mind with guaranteed returns along with the flexibility to capture growth in the commodities market along the way.”
The investment-linked plan allows investors the choice to invest in commodities like energy, precious metals, industrial metals, agriculture and livestock.
Lim said Forture8 was also in line with Maybank group’s strategy to extend its asset management business not only in Malaysia but also 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 Forture8 will provide them to confidence to invest even in volatile market conditions,” he explained.
“Our intention is to ultimately make investing in such funds available to our customers in the region especially in our key home markets of Malaysia, Singapore and Indonesia as well as other Asean countries,” he added.
Forture8 also provides insurance protection coverage for the family in the event of the investor’s death.
It guarantees a lump sum of up to 125 per cent of the single premium for investors aged between 18 years and 55 years, and 105 per cent of single premium for those aged between 56 years to 70 years.
Fortune8 was underwritten by Etiqa Insurance Bhd and could be purchase at all Maybank branches nationwide.