TheStar
KUALA LUMPUR: Public Bank Bhd has launched a new investment product called PB Commodities and Resources Basket (PB CARB).
The new product enables investors to invest in the currencies of countries that are rich in natural resources and net exporters of those natural resources.
It said in a statement PB CARB Investment was a short two-year investment via floating rate negotiable instrument of deposit and 100% capital-protected if held to maturity.
PB CARB Investment consists of a basket of four equally weighted currencies — Canadian dollar, Australian dollar, Russian rouble and Brazilian real.
The returns were locked in each time the basket of currencies appreciated over the lock-in levels on each of the monthly observation dates, the bank said.
“With each level that has been locked in, investors can look forward to returns at maturity of above 6% or 12%, depending on the lock-in levels triggered and the closing level of the basket as compared to its initial level,” it said.
The targeted issue amount for PB CARB Investment was initially set a RM100mil and the minimum size per investment was RM100,000 with multiples of RM50,000 thereafter, it added.
According to the bank, the investment is suitable for investors who are seeking potentially higher returns.— Bernama
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