Malaysia's ING Funds has paid a third and final coupon to investors it its ING Annual Income Climate Structured Fund, which has led the sharia-compliant capital-protected sector since it was launched in 2008. The fund raised MYR187.78m ($59m).
The growth and income product, which is due to mature in January, is linked to the performance of the Citi Climate Change Opportunities Index. The fund invests up to 95% of capital into certificates linked to the Citi Climate Change Opportunities Index and up to 5% into cash and other sharia-compliant investments. The fund also promised a fixed annual coupon of 5%.
At maturity the product, which the firm says has clocked up nearly 60% growth to date, returns capital along with any positive outperformance of the Citi benchmark over a global index basket represented by the S&P500, Eurostoxx50, FTSE100 and the Nikkei225.
The annual income distribution has consistently outperformed the benchmark returns of the fund over the last three years, ING said in a statement today.
This product appears on the Malaysian database.