Stanchart Malaysia's Wealth Power Amplifies Investment Up To 9 Times

KUALA LUMPUR, April 12 (Bernama) -- Standard Chartered Bank Malaysia Bhd (StanChart Malaysia) on Wednesday introduced Wealth Power, a form of leverage financing that can amplify investors' investment by between 1.5 and nine times. Its Managing Director/Head of Wealth Management, Pramod Veturi, said it is a tool which boosts the return on underline asset classes and allows investors to increase their investments in bonds, unit trusts, structured investments and insurance products. "The choice of the underline asset class is based on the customer's risk profiling and yield expectations," he told a press conference on Wealth Power here Wednesday. He said the platform allowed currency trading, such as the Malaysian ringgit, US dollar, Singapore dollar, Australian dollar, New Zealand dollar, euro and pound sterling. Pramod said Wealth Power would be exclusive to its priority clients in the affluent segment, with a minimum disposable liquidity of US$56,457 (RM250,000). Meanwhile, Head of Managed Investments and Products Management, Danny Chang, said those in the affluent segment have begun to invest in non-ringgit assets, including stocks, bonds and unit trust funds. He attributed this trend to factors such as the ringgit depreciation, higher awareness on the importance of portfolio diversification and increasing supply of such financial products. --BERNAMA