AmInvestment Bank's funds management division has launched a new 30-month capital-protected product, after a one-year absence. SRP data shows the last AM Bank Group-backed product was marketed in the summer of 2001.
The AmConsumer Select-Capital Protected Fund is linked to consumer-related equities and will be on sale for 45 days, starting on 5 June at MYR1 per unit, said director of retail funds, Ng Chze How.
The fund has an approved size of 100 million units ($31.5m) and has so far realised MYR2 million ($631,000) in sales since last week, Ng said.
"The fund, being capital-protected at maturity including the entry charge, is a safe haven for risk-averse investors looking to hedge against the uncertainty in the global market and leverage on the opportunity to capture the upside should the markets perform," he said at the fund's launch.
The provider is planning to issue six more funds in the second half of the year, which will be linked to capital-protected equities, fixed income and Islamic funds.