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| TA Investment launches TA Select Titans in Asia Capital Protected Fund |
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| Tuesday, 03 November 2009 16:11 | |||
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“Asia is seen as the driver of growth after this crisis and we believe that it will continue to perform for the next couple of years,” said TAIM chief executive officer Wong Mien. “TASTIA intends to give returns either in a sideways or an upward trending market. Another unique feature is that after any trigger point is reached, it will switch into a money market fund equivalent which potentially distributes returns above current deposit rates.” TASTIA seeks to provide investors with a catch-up coupon of 6% pa either in sideways or rising equity markets. For investors who choose not to make any redemptions after receiving the catch-up coupon, the fund targets to provide auto-switch coupons of 3% pa annually until the maturity of the fund. The actual rate of the catch-up coupon and auto-switch coupon will be determined on the commencement date of the fund. The fund primarily will invest in a 60-month ringgit-denominated zero-coupon negotiable instruments of deposits (ZNIDs) issued by Malaysian banks of investment grade rated at least “AA” by RAM or equivalent to provide capital protection upon maturity. A maximum of 10% of the fund’s NAV will be invested in an over-the-counter option designed to provide potential annual returns benchmarked against the performance of selected reference companies whose securities are listed on international equity markets and whose businesses are exposed to the growth of the Asian economies. Investors are advised that unlike a guaranteed fund, this capital-protected fund is protected by investments in ZNIDs and not by a guarantee, said the statement, adding that consequently, the return of capital is subject to the credit/default risk of the issuers of the ZNIDs.
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