TMB launches fund with full investment protection
Play
Aiming to attract bank depositors, TMB Bank and ING Investment Management Co Ltd is launching an innovative bond fund which for the first time in history offers full protection for their investment.
The fund will invest in bonds issued by Bank of Thailand, government agencies or state enterprises with Finance Ministry's guarantee, or others with equivalent risk profiles. Estimating annual return of 3 per cent, the fund manager is ready to redeem unit trusts immediately after the accumulated return is 5 per cent or when the net present value hits Bt10.50.
The unit trusts will be available for subscription during Oct 8-12. Minimum subscription is Bt2,000. Individual bondholders are exempted from witholding tax.
According to Kanchana Rojvatunyu, executive vice president - Head of Retail Marketing Group, TMB Bank, the fund is targeted to reach out to depositors with low risk appetite who normally keep money at banks.
"We're committed to introduce more products to reach out to more clients. Once they try our products, they would realise that they could not live without the unimagined products," she said.
