Maybank Asset Management has partnered with Schroders to create a shariah-compliant, multi-asset fund.
The Maybank Global Wealth Conservative-I Fund aims to achieve an income distribution of 7% annually and will invest a minimum of 70% in sukuk with the remainder in equities and cash.
Schroders is the investment adviser.
The Maybank Global Wealth Conservative-I Fund joins the Maybank Global Wealth Moderate-I Fund and Maybank Global Wealth Growth-I Fund in the suite of Maybank flexible retirement solution offerings launched last year.
Ahmed Muzni Mohamed, chief executive officer of Maybank Asset Management, said: “The beauty of Maybank’s Flexible Retirement Solution is that we have reframed the traditional age-based approach to retirement planning and made it appealing to a wider audience segment by designing solutions based on understanding and targeting Malaysians’ various life stages, time horizons and financial goals. Our Funds certainly give Malaysians more flexibility and choice to start planning.”
“Investors of different segments will be able to choose what levels of risk to take, ie growth, moderate or conservative and have the flexibility to decide on how their retirement planning should fit their life goals and needs. Now with our decumulation fund, it supplements one’s income post-retirement by providing higher income pay-outs. This helps in their income stability and longevity protection of their savings, giving them peace of mind to continue with a quality life without worrying about finances.”
Lily Choh, Schroders’ Singapore chief executive, added: “We are delighted to partner with Maybank Asset Management to develop an innovative strategy that focuses on providing a reliable income stream to fund current and future needs.
“This solution is built on Schroders’ strong track record and extensive world-class institutional capabilities in managing pension schemes. The addition of the fund to the current suite of shariah retirement solutions reflects our strong commitment to supporting the retirement planning journey of Malaysian investors.”
This article first appeared in our sister publication Fund Selector Asia.
