CIMB-Principal launched a tax-efficient alternative to traditional deposits, which provides potentially higher returns and allows withdrawal anytime without penalty.It also aims to provide stability by giving investors a potential steady stream of monthly income, while allowing them the convenience to "park" their money in short-term investments while deciding where to invest for the longer-term.The Fund has zero application fees with an initial selling price per unit of US$0.28 and an approved fund size of 400 million units. The minimum investment for the fund is US$2,854.Chief Executive, J. Campbell Tupling, said: "The Fund is for corporate investors seeking to invest in short-term Islamic deposits. Therefore investors with lower risk appetite may find this Shariah-compliant investment an offer that should not be missed.""Although the Fund has a monthly distribution policy, clients can deposit their money for as short as a week and still earn on daily interest," continued Tupling.
Do you know more about this story? Contact us anonymously through this link.