OSK-UOB starts offering new capital-protected fund

The fund, designed to provide a safe haven and act as a hedge against inflation, will be marketed starting August 11 at initial minimum investment of $329.76.

OSK-UOB Investment Management Bhd has launched a new fund, OSK-UOB Capital Protected Dual Opportunities Fund.

In a statement on Tuesday, chief executive officer, Ho Seng Yee, said the fund was structured as a safe haven with the potential returns to meet the investment needs of the investors in these uncertain times.

"It is designed to provide a safe haven and act as a hedge against inflation as it would use the performance of gold to calculate a further return on the coupon payout," he said.

He said the fund would invest in a fixed basket of five well-established Chinese companies' stocks listed on the Hong Kong Stock Exchange.

"The potential annual coupon payout will be based on the performance of this basket of stocks," he said.

The fund, with an approved size of 100 million units, is offered at an initial price of RM1 per unit ($0.33).

View the full story in The Malaysian Star.