03  December 2012  - 12:51
Maybank eyes RM300m investment opportunities in Australia

Maybank is targeting to raise RM300 million through its latest single premium and capital guaranteed investment-linked insurance plan, AUSpicious10 by the time the fund closes on 28 December 2012.

Deputy President, Head Community Financial Services Maybank, Mr. Lim Hong Tat said that AUSpicious10 is a unique product offering customers the opportunity and flexibility to invest their money in a selection of investment funds focused on Australia, all within one single plan. “The plan is tailored to offer high returns riding on the strong performance of the fastest growing advanced economy - Australia. Hence, you can enjoy potentially higher investment gains, while being protected at the same time” he explained.

Lim revealed that sales for AUSpicious 10 has already exceeded RM 50 million since its recent launch.

"We chose the Maybank IB Australia Plus Index (MAP Index) as it is a proprietary index comprising of a basket of stocks listed on the Australian Securities Exchange with an active asset allocation strategy investment to optimize the investment return within a targeted volatility ” said Mr Lim.

Mr. Lim added that Maybank was confident of hitting its sales target of RM300 million for the plan by end December. The new product, which targets the financially mature market, sees a minimum investment of RM15,000 and additional investments in multiples of RM1,000.

With a short tenure of 46 months, the plan guarantees a 5.8% cash payout at the end of the 18th policy month. Apart from guaranteed cash payout, the plan offers 100% capital back at maturity with potential upside return while giving customers life coverage of up to 125% of the capital during investment period.

AUSpicious10 is currently available in all Maybank branches nationwide and it is a product underwritten by Etiqa Insurance Berhad after the launch of the highly successful Dragon9, a single premium investment-linked insurance plan early this year.