Maybank in Malaysia is offering clients of its welath management business, Maybank 21st Century Structured Deposit, a three-year capital-protected deposit linked to the performance of a multi-asset dynamic index.
The index, provided by BNP Paribas, offers up to 25% exposure to each of the following sector indices: BNPP’s Global Grey Gold, Global Agribusiness, Global Waste Management, Global Water, Global Energy Efficiency, Global Renewable Energies and Emerging Infrastructure. Meanwhile, the index can go short for up to -25% to US equities, European equities, Japanese equities and commodities. Allocation to money markets is between 0% 100%.
“In developing this product, we meticulously analysed trends of sustainable investments in the current and future economic environment. We created a socially responsible product that takes into account some of the key global trends of the 21st century such as global population growth, waste & water management, renewable energy, emerging market infrastructure, global commodities and infrastructure development,” said Spencer Lee, Maybank’s head of consumer banking.
He added that 90% of the deposit will be invested in Floating Rate Negotiable Instruments of Deposit (FRNID) to be managed by Maybank’s treasury for capital protection, with the remainder spent on providing access to the underlying index.
This is Maybank’s second structured deposit product launched this year and it carries a minimum deposit size of MYR100,000($30,000). No exit fees apply and the account can be used for overdraft facilities with Maybank.
Previous deposits include Asiapac Hybrid Capital Protected launched in July 2007 which raised MYR377m (113.2m) and Structured Islamic Deposit (Stride-i) and Alpha Centurion Structured Deposit (Mac), which sold MYR312m ($93.7m) and MYR472m ($142m), respectively.
The offer period for M21C runs until 11 September.
Click here to see a brochure for this product.
