HLTM TAKAFUL'S CAPITAL PROTECTION INVESTMENT-LINKED (CPIL) FUND MEETS SALES TARGET OF RM100 MILLION
Kuala Lumpur, 5 November 2007
Scheme attracts a high majority of non Muslim investors
Response to Hong Leong Tokio Marine Takaful (HLTM Takaful) Capital Protection Investment-Linked (CPIL) fund has been very good. The company successfullymet its target of RM100 million.
In a statement issued here today, Ezamshah Ismail, Chief Executive Officer of HLTM Takaful, stated that the success of the product is attributable to boththe product's relevance to the customers' needs as well as the efficient and effective distribution of the product through Hong Leong Bank's extensivebranch network.
Ezamshah added that CPIL has proven that Takaful is an attractive investment alternative that appeals to both Muslim and non-Muslim investors – a highmajority of CPIL depositors are from the non-Muslim group.
"A superior Takaful investment product such as CPIL will transcend the barrier of culture and belief; and we are upbeat about receiving comparable responseon our range of Takaful products to be launched in due course," Ezamshah said. He further mentioned that HLTM Takaful will be issuing certificates to theCPIL investors soon.
He also expressed confidence that CPIL could bring high returns if the local and global market outlook continue to be positive. The recently launched3-year Shariah-compliant CPIL, which was co-structured with Citi Malaysia, closed on 19 October 2007 and had attracted local individual investors as thescheme provides protection of the initial contribution (principal) if held till maturity.
HLTM Takaful CPIL returns will be benchmarked against property-related indices of the European Public Real Estate Index (EPRA) and the Tokyo Stock ExchangeREIT Index (TSEREIT) whereas the underlying commodities are oil, copper and zinc. The profile with the highest return from the combination of theproperty-related indices and commodities is selected as the best performing profile.
-END-
Press Release - 05/11/2007
