DBS offers RMB-denominated endowment plan
2.85% yield per annum rests on RMB-vs-USD appreciation in next 5 years.
"Although volatilities are expected in the short term, investors will likely see a gradual appreciation of the RMB against the USD over the next five years, making the Dragon Renminbi Plan’s five year tenure an attractive one," says DBS in a release announcing its new insurance plan.
Minimum investment will be at RMB250,000. The plan will be underwritten by Aviva and will pay out over five years.
The Dragon Renminbi Plan is their first Renminbi insurance product with a five year term, claims DBS.
"The plan provides investors with a mid-term financial planning solution into a currency that is expected to gradually appreciate in the next five years. Moreover, with the fixed return of 2.85%, it allows investors to gain access to China without taking on excessive market risk,” explained Mr. Newman.
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Tags: DBS insurance plan, DBS Dragon Renminbi plan, DBS Renminbi insurance
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