6th December 2022 - 3 min read
Digital wealth management platform Versa has expanded its suite of investment offerings by launching two new products, namely Versa REITs and Versa Gold. Offered with underlying funds from asset management company AHAM Capital, these new products are meant to make investing even more accessible to the Malaysian public, while providing options that align with their current financial goals.
In a statement, Versa explained that Versa REITs – whose underlying fund is the Affin Hwang Select Asia Pacific (ex-Japan) REITs Fund – is an instrument that invests in multiple real estate sectors that are managed by Asia’s top real estate companies (as opposed to when you buy and own an entire real estate space). These sectors include shopping malls, offices, data centres, business parks, as well as factories and warehouses located in different locations across the Asia Pacific region.
With the fund diversified across not just different sectors, but also countries, investors can enjoy a heightened degree of stability in their portfolios. Moreover, the starting capital for Versa REITs stands at just RM100, which removes the high cost barrier in real estate investment for everyday Malaysians. In terms of fees, Versa REITs offers 0% sales, redemption and switching fees, as well as RM0 sales charges. However, there is an annual trustee fee of 0.07% and an annual management fee of 1.8%.
Meanwhile, Versa Gold – which taps into the Affin Hwang Shariah Gold Tracker Fund as its underlying fund – is the platform’s first shariah-compliant fund that closely tracks the performance of gold price. As most savvy investors would know, gold is considered a safe-haven investment and a hedge against inflation. It also serves as a good diversifying investment.
The starting capital for Versa Gold is also set at just RM100, as opposed to the cost of most gold investment accounts that require new investors to make a minimum first purchase of 1g (which typically costs more than RM250). It also promises low and transparent fees, with 0% sales, redemption, and switching fees, 0.3% management fee, and 0.03% trustee fee.
Note, though, that unlike traditional gold investment accounts, Versa Gold does not allow investors the option to make physical gold redemptions.
Chief executive officer of Versa, Teoh Wei-Xiang said that these offerings point at the platform’s commitment at empowering Malaysians to achieve financial wellness. “In uncertain and turbulent economic periods, investors look for assets that can provide a safe harbour against stock market volatility. Due to its intrinsic properties, asset classes like real estate and gold continue to be favoured by global investors alike due to its stable nature and role as a hedge against inflation,” he said.
Managing director of AHAM Capital, Dato’ Teng Chee Wai also highlighted the growing need for simple and affordable financial products for Malaysians. “With market cycles becoming shorter and sharper, asset classes like REITs and gold offer a way for investors to diversify their portfolios in order to grow and preserve wealth,” he said.
Aside from the newly launched Versa REITs and Versa Gold, Versa also has two other existing offerings: the cash management solution Versa Cash, and the investment solution Versa Invest. Versa Cash currently has an ongoing promotion that rewards clients with a net return of 4% p.a. on the funds within their accounts, as well as an exclusive cashback deal with RinggitPlus for new Versa users.
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