RM25m target for Takaful's new fund

2009/04/21

RM25m target for Takaful's new fund


JOHOR BARU: Takaful Malaysia hopes to rake in RM25 million from 100,000 investors this year through the sale of its newly-launched "Takaful myInvest" product.

This is the company's first regular contribution product or open-ended product targeting those who wish to diversify their investment portfolios while given insurance protection.

Takaful chief financial officer Azian Kassim said the company hoped to generate sales volume of RM800,000 during Malaysia Unit Trust Week (MSAM 2009).

"As this product is linked to the local equity and money markets, it is timely to launch this fund as most of the stocks are under-valued.

"Predictions show that the economy in the second half of the year will improve, which means the price of the fund is likely to increase."

The fund was launched by Prime Minister Datuk Seri Najib Razak at the MSAM 2009 in Plaza Angsana here yesterday.

"Takaful myInvest" allows investors to invest from as little as RM100 and gives them the choice to undertake from moderate to dynamic risk and returns from its four syariah-compliant investment funds.

They are Dividend (Irad), Blue Chips (Istifad), Index Tracker (Ihfaz) and Growth (Ittihad) funds.

For moderate-risk fund such as Irad, investors will not need to wait for the right time to invest as they are able to have consistent dividends from fundamentally sound companies, while Istifad allows investors capital appreciation during a good market run.

Azian said Takaful myInvest provided a constructive investment plan designed to act as an investment vehicle allowing investors to spread their savings while having the benefits of insurance protection. The funds are managed by the investment division of Takaful Malaysia.

Azian said the company was not worried about competition from similar funds in the market as those in existence were launched when the share prices were high.

"We started when the market is slowly picking up, which means better potential for growth and returns."

"Takaful myInvest" is open to individuals aged between 18 and 65