STMB targets RM100mil fund

PETALING JAYA: Syarikat Takaful Malaysia Bhd (STMB) is targeting an investment fund size of at least RM100mil for its latest investment-linked product, myAL-AFDHAL, when the subscription period closes on June 15.

Offered to both Muslim and non-Muslim individuals and corporations, STMB's first syariah-compliant closed-end capital protection investment linked fund is open for investment for 45 days beginning yesterday.

Group managing director Datuk Hassan Kamil said he was confident the product would be well received by the public as it had “built-in” benefits.

“This new plan provides investors with a comprehensive five-year “peace-of-mind” syariah-compliant investment structure.

“It is innovatively structured to provide 100% capital protection while returns are benchmarked against the performance of the best performing investment portfolios, combining selected international indices related to global equities, commodities and fixed income,'' he told StarBiz in a telephone interview.

One feature of the product was its consistent income via annual distribution of profits throughout the investment period.

Apart from catering to the needs of investors seeking a sophisticated syariah-compliant investment combined with takaful protection, it also targeted investors interested in exploring an alternative to fixed deposit type products to gain better returns at a relatively low risk, he added.

Chief investment officer Azian Kassim said the reference indices, which would act as the benchmark for the fund's returns, had been “meticulously chosen after thorough analysis.”

“This ensures that STMB is capable of offering a complete portfolio that has a high probability of generating strong returns over the specified investment period,” he said.

The product is managed by STMB, with Citibank as the structure provider, offering an affordable investment instrument ranging from a minimum investment of RM7,000 to a maximum of RM10mil.

Hassan said the launching of myAL-AFDAL was aimed at increasing STMB's dominance in the domestic takaful market by focusing on alternative investment opportunities for its existing and potential customers.