Posted on 12 December 2011 - 10:22pm
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PETALING JAYA (Dec 12, 2011): Malayan Banking Bhd (Maybank) is targeting its investment-linked insurance plan called Fortune8 to hit its cap of RM300 million in sales when the fund closes on Dec 31.
The plan gives investors the chance to invest in commodities such as energy, precious metal, industrial metal, agriculture and livestock.
"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 protect investors from short-term effects of inflation while providing capital appreciation," Maybank deputy president and head of community financial services, Lim Hong Tat, said in a statement today.
Fortune8 is a closed-end three-year, six-month investment-link 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 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 of RM15,000 and additional investments in multiples of RM1,000," said Lim.
The fund, which is underwritten by Etiqa Insurance Bhd, also provides insurance coverage for the family in the event of the investor's death.
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