Maybank’s latest single premium and capital guaranteed investment-linked fund, Dragon9, has garnered RM250 million in sales within 7 weeks of its launch on 15 March 2012.
Maybank Deputy President & Head, Community Financial Services, Lim Hong Tat, said Dragon 9 was targeted at the mass affluent financial mature market, particularly investors looking to diversify their investment portfolios and tap into growth opportunities in the region.
It provides customers the opportunity to invest in a selection of investment funds focused on China, all within one single plan, and was tailored to ride on China’s fast growing economy.
Dragon9 required a minimum investment of RM15,000 with additional investments in multiples of RM1,000. It has a short tenure of 45 months and the plan guarantees a 5.75% cash payout at the end of the 18th policy month.
Apart from this guaranteed cash payout, the plan offers 100% capital back at maturity with additional potential upside return while giving customers life insurance coverage of up to 125% of the capital during investment period.
Potential additional returns are expected from the positive performance of China equities, with the reference index being the PARA CHINA as well as appreciation of the Renminbi against the US Dollar.
Lim said that investment linked plans such as Dragon9 were part of Maybank’s strategy to add diversity to its wealth management offering. “Wealth Management is a growing segment for Maybank with total assets under management growing 41 % in the last 12 months. Given the increasing affluence in the region, we are seeing customers in this market segment constantly looking for new and safe investment options that can support their wealth generation objectives,” he said. “Given the capital protected nature of this plan as well as the guaranteed cash payout, Dragon9 appears ideal for those with a more low-risk investment profile,” he added.
Dragon9 is underwritten by Etiqa Insurance Berhad and follows the successful launch of Fortune 8, a single premium investment-linked insurance plan which drew RM 220.218 million following its launch in November 2011.