In a release, Manulife (Singapore) Pte Ltd and Citibank Singapore Limited have launched ManuRetire Secure, a Singapore Dollar-denominated single premium investment-linked insurance plan (ILP). The plan is the product of Manulife’s and Citibank’s joint expertise and innovation on retirement planning.
It is the first ILP in Singapore that guarantees clients’ investment at 80 per cent of the Fund’s highest historical Unit Price. The plan also offers several payout options providing Singapore consumers with great flexibility for their financial needs during retirement. Citibank is the first exclusive distributor for the plan in Singapore.
ManuRetire Secure is designed to allow consumers to benefit from the potentially inflation beating performance of equities while providing them with guaranteed income2 for retirement.
ManuRetire Secure invests in the Manulife Octave SGD Tracking Fund which tracks the performance of the Citi Octave SGD Index3. The index forms the plan’s underlying investment strategy, which comprises of equities and cash-like instruments.
Citibank tapped on its global markets expertise to design ManuRetire Secure’s investment strategy, which is managed by Citigroup Global Markets Limited, the bank’s capital markets arm. It aims to provide consumers with a more dynamic investment strategy for retirement, by capturing positive equity market trends and limiting index losses.
