AmLife, a subsidiary of AmBank Group Malaysia, has launched an MYR$30m ($9.4m) tranche of a life-wrapped capital-guaranteed fund with returns linked to the MLCX AmBank Commodity Alpha Index. CEO Ng Lian Lu said there will be additional tranches of MYR$30m ($9.4m) in October this year and MYR$40m ($12.5m) in February next year to meet demand. Each will have a tenor of five years.
The product will pay fixed coupons of 2% and 3% pa at the end of the first and second years. A final coupon at maturity will be equal to the growth of the underlying index, which tracks the outperformance of the MLCX Enhanced Benchmark A01 Excess Return Index against the DJ UBS Index.
The product is open until 5 August with a minimum investment of MYR$5,000 ($1,500). It offers life insurance protection of up to 125% of the investment amount underwritten by AmLife Insurance.
This product is available now in Recent Additions (Malaysia).