Thursday April 12, 2012
By DALJIT DHESI
daljit@thestar.com.my
Article from The Star Online
It expects investment-linked funds to boost premiums
KUALA LUMPUR: Despite the current uncertainties and the volatile global economic environment Manulife Holdings Bhd is confident it will be able to perform better this year.
One of reasons for this bullish outlook is due to its investment-linked business.
Group chief executive officer Michael Chan said this year it expected its investment-linked products to contribute close to 80% of its new business premiums compared with 70% last year.
Last year, new business premiums stood at about RM62mil. Currently, he said the company was on track to meet its target for its new business premiums growth.
He said investment-linked plans were very transparent and offer customers the flexibility to manage their insurance plan according to their needs.
Customers were informed on all the fees and charges and the choice of investment-linked funds was made based on the customer's risk-reward appetite, he added.
Manulife has a range of investment-linked funds that caters to a diverse range of risk profiles. If a customer is inclined towards low risk, they could choose bond or fixed income funds such as the Manulife Income Fund.
Chan said its Manulife Managed and Equity Funds had been consistently strong performers in the local equity market.
The latest fund that Manulife launched was the Manulife FlexiInvest Fund, a fund ideal for investors who want to leave the asset allocation decision to the fund manager, he said adding that there would be more funds in the pipeline.
Chan added that the newly granted private retirement scheme (PRS) licence to Manulife Unit Trusts Bhd would help to grow the company's business in the coming years. The PRS would form another important line of business to the company, he noted.
Manulife Unit Trust Bhd, a wholly-owned subsidiary of Manulife Holdings Bhd, is one of the eight intermediaries which was recently selected by the Securities Commission as the country's provider of PRS.
As accuracy in the relevant processes for a PRS business is critical, he added Manulife would be investing substantially in its imaging workflow and dual entry systems. “Manulife globally has the expertise in pension and retirement schemes and we will capitalise on this expertise to boost our PRS business. We will also have a sophisticated customer website to enable investors to switch funds, analyse future and past contribution of various funds, among others,'' he said in an interview with StarBiz.
Meanwhile, Manulife Insurance Bhd senior vice-president and chief agency officer Jeffrie Teh Cheng Keat said it would intensify training to its agency force and teach its agents on how a product works as well as train them to become financial planners.
“Manulife has developed a comprehensive training system that will help agents become successful. We want to develop a professional agency force where customers can trust our agents to help them make key financial decisions,” Teh added.
Manulife has nine branches or regional support centres and 70 agency offices.
Article from The Star Online
