AmBank is offering a new capital guaranteed fund offering investors exposure to a basket of ten international currencies.
AmCurrency Income is a three-year insurance-linked plan that provides investors exposure to a basket of ten international currencies via the UBS V10 Volatility Capped Index. The selected liquid currencies include the Japanese yen, US dollar, New Zealand dollar, UK sterling, Norwegian krone, euro, Australian dollar, Swedish krona, Canadian dollar and Swiss franc.
A potential coupon payable after 18 months is equal to the growth of the index minus 8%. At maturity investors will receive 100% of initial capital along with a final coupon equal to any growth in the underlying index.
"Although there were some uptrend signs of recovery in economy activity in the first quarter of 2010, the global financial markets remain uncertain and investors are staying vigilant against investment. AmCurrency Income is an alternative way of investment that allows investors to enjoy a potential stream of income, while at the same time be covered by a life insurance plan," said Datuk Mohamed Azmi Mahmood, Managing Director, Retail Banking, AmBank Malaysia.
AmCurrency Income has an approved fund size of MYR$100m ($31m) and is available until 13 July with a minimum investment amount of MYR $5,000 ($1,500).
This product is available now in Recent Additions (Malaysia).