The short-tenure Islamic investment account targets six per cent returns over 18 months
Maybank Islamic Berhad has launched its second Multi-Asset Investment Account-i (MAIA) called MAIA Global Healthcare which invests equally in the Bank’s stable financing assets and global Shariah healthcare equities.
MAIA Global Healthcare is an 18-month closed ended multi-asset investment account with the investment objective to achieve a target return of six per cent over 18 months or four per cent per annum.
Open to investors since April 22, 2021, the investment product which offers a minimum initial investment of RM5,000, aims to reach RM500 million in fund size by the end of the offer period on May 31, 2021.
Maybank Islamic CEO Datuk Mohamed Rafique Merican said the equal investment in the Bank’s financing assets and healthcare equities provides investors with the potential upside from marketable securities while enjoying the benefits of financing assets which can effectively manage any downside risks.
“Supported by strong asset quality of Maybank Islamic, MAIA Global Healthcare offers a low volatility investment product due to our stable financing assets and this will provide a steady income stream to the investment portfolio,” he said in a statement.
“The uniqueness of MAIA is in the combination of investments where equities can give higher potential returns while financing assets can protect investors from downside risks in an adverse market condition,” he added.
Meeting needs of investors
The investments in the financing assets will be managed by Maybank Islamic while the equities will be managed by the external investment manager, Maybank Islamic Asset Management (MIAM), of which Schroders is the investment advisor.
Mohamed Rafique said, “We trust that our latest offering will be able to meet the needs of investors who are seeking for Shariah investment options which aims to preserve capital whilst generating stable and relatively higher returns.
“The investment in healthcare equities will also allow investors to invest in companies that are constantly innovating to improve the quality of healthcare products and services.
“For the equities’ allocation part, MIAM’s strategy will focus on healthcare stocks investing in companies with sustainable growth potential and having Schroders as its investment advisor which has deep, on the ground expertise in this sector, we are pleased to offer this investment opportunity to our customers”, he added.
Maybank Islamic is Asean’s leading Islamic bank. It is the largest Islamic commercial bank in Malaysia with a market share of 30.8 per cent of Islamic financing as well as deposit and investment accounts at 27 per cent as at December 2020.
For the financial year ended Dec 31, 2020, Maybank Islamic’s total assets stood at RM255.2 billion, a growth of 4.2 per cent year-on-year. — The Health