Source:
Apple Intelligence:
- MariBank Ownership: Owned by Sea Group, a Singapore-based technology conglomerate.
- MariBank Services: Offers personal and business banking services through its mobile application.
- Mari Invest Income: A new investment product released by MariBank, currently available by invitation only.
- Investment Goal: Mari Invest Income aims to provide regular payouts.
- Investment Risk: Considered a higher risk investment compared to Mari Invest SavePlus.
- Fund Performance: Depends on the performance of the PIMCO GIS Income Fund, an actively managed fund.
- Ongoing Fee: 1.05% p.a., including management fee and trailer fees.
- Fund Performance: Historically good return (4.09% p.a. since inception) and a consistent monthly payout (nearly 6.49% p.a. based on historical distribution as of 31 Dec 2024).
- Payout Characteristics: Not guaranteed and may differ from past performance, despite consistent and increasing per unit payout history.
- Fund Composition: PIMCO GIS holds a significant portion (36%) in Federal National Mortgage Association (FNMA) mortgage-backed securities.
- FNMA MBS Characteristics: Offer high yields, benefit from rising interest rates, implicitly backed by the US government, sensitive to interest rate changes, and may not appreciate as much when interest rates fall.
- PIMCO GIS Fund Classes: Various classes exist, including hedged and unhedged options in different currencies (AUD, EUR, GBP, HKD, SGD, USD).
- Fund Class Fees: Different fund classes have varying ongoing fees: ADMIN (1.05% p.a.), E (1.45% p.a.), HINST (0.72% p.a.), INST (0.55% p.a.), INVST (0.90% p.a.).
- Fee Distribution: Fees paid for the PIMCO GIS Income fund are distributed among PIMCO, fund distributors (e.g., Maribank), and advisory firms.
- Investor Considerations: Investors should focus on understanding the fees, the underlying investment (PIMCO GIS Income fund), the investment risk, its role in their overall financial plan, and the associated risks.
