Wealth Distribution
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  • Details
  • FAQs
  • Terms & Conditions
  • Cost
  • Downloads
  • Details
    Wealth is created by investing your savings, it is also important to safeguard your investment from unforeseen circumstances. Affin Hwang AM’s Beneficiary Account allows our investors to have a quick and hassle-free distribution arrangement for their loved ones.

    A joint account between an investor, as the primary account holder and Affin Hwang Trustee Berhad (“AHTB”), as secondary account holder. Should an investor pass away, AHTB shall receive the deceased investor’s monies by virtue of the right of survivorship, and act to distribute the monies to the beneficiary(ies) named by deceased investor.

    invest & nominate
    Investor invests with Affin Hwang AM under Beneficiary Account and nominates beneficiary(ies).
    Deceased
    01

    SUBMISSIOn
    Beneficiary(ies) submit complete documents to AHTB.
    02

    Verify & Redeem
    AHTB verifies the documents and redeems the deceased investor’s investments under Beneficiary Account.
    03

    RECEIVED
    AHTB distributes monies to deceased investor’s beneficiary(ies) within 14 working days.
  • FAQs
    1. Who is Affin Hwang Trustee Berhad?
    AHTB is a bank-backed corporate trustee that offers trusteeship services to individuals and corporate clients. AHTB is a subsidiary of Affin Hwang Investment Bank Berhad, and a sister company of Affin Hwang AM.
    2. What are the advantages of a Beneficiary Account?
    • Investor’s investments would not be frozen upon demise.
    • Quick distribution to investor’s beneficiary(ies).
    • Immediate liquidity to relieve to dependents who are in need of funds for living expenses and urgent matters.
    3. What investments are applicable for a Beneficiary Account?
    Beneficiary Account is only applicable for cash investment in Unit Trust Funds (retail and wholesale) and excludes EPF – MIS investment, Private Retirement Schemes (“PRS”) and mandates.
    4. Does the investor require AHTB’s consent or signature to purchase, redeem and/or switch any investments under the Beneficiary Account?
    No. During investor’s lifetime, AHTB is merely a secondary account holder and does not have any rights, interest and entitlement to the investor’s monies. In the event of the investor’s demise, AHTB (as the survivor of the Beneficiary Account) shall redeem the investment and distribute the monies to the nominated beneficiary(ies).
    5. Can Investor continue to purchase, redeem, and/or switch any investments under the Beneficiary Account?
    Yes. All investment activities shall remain as usual.
  • Terms & Conditions
    1. Beneficiary Account is opened to all non-Muslim Malaysian investors of Affin Hwang AM.
    2. The minimum investment sum required to open a Beneficiary Account is RM30,000.00 or equivalent value in a foreign currency, or equivalent value of units at the point of application.
    3. Each Beneficiary Account is only applicable for one individual per account. Each individual will have to open one joint account with AHTB individually.
    4. Investors may have multiple Beneficiary Accounts for different distribution needs.
    5. Investor may nominate up to 5 beneficiaries for each Beneficiary Account.
    6. In the event the beneficiary(ies) is a minor (below 18 years old), AHTB will distribute the minor beneficiary’s entitlement to his/her legal guardian(s).
    7. AHTB will take up to 14 working days, upon the beneficiary’s/claimant’s submission of complete documents to AHTB to distribute the monies to the beneficiary(ies).
    8. Investor may close the Beneficiary Account and redeem the investments at any time. There will be no charges to close the Beneficiary Account.
    9. The Beneficiary Account will take effect on the same day upon submission of complete documents before the cut-off time, subject to the acceptance by Affin Hwang AM and AHTB.
  • Cost
    The fees and charges to open and maintain a Beneficiary Account are :
    • Setup Fee – RM 100.00
    • Trustee Fee (only chargeable upon Investor’s demise) – 0.75% on the total investment value, or minimum fee of RM500.00, whichever is higher. The Trustee Fee will be deducted prior to the distribution of the Beneficiary Account to the nominated beneficiary(ies).
    Special Promotion
    Setup fee of RM100.00 will be waived from now until 30 September 2020. Reach out to your sales representative for more information.
  • Downloads
    Beneficiary Account Brochure
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Copyright © 2020 Affin Hwang Asset Management Bhd
TENG CHEE WAI

Managing Director
Teng Chee Wai is the founder of Affin Hwang Asset Management Berhad (Affin Hwang AM). Over the past decade, he has built the Company to be the fastest growing and only independent investment management house in Malaysia’s top three, with an excess of RM47 billion in assets under management as at 31 December 2018.​

​In his capacity as Managing Director / Executive Director, Teng manages the overall business and strategic direction as well as the management of the investment team. His hands-on approach sees him actively involved in investments, product development and marketing. Teng’s critical leadership and regular participation in reviewing and assessing strategies and performance has been pivotal in allowing the Company to successfully navigate the economically turbulent decade.

Teng’s investment management experience spans more than 20 years, and his key area of expertise is in managing absolute return mandates for insurance assets and investment-linked funds in both Singapore and Malaysia. Prior to his current appointments, he was the Assistant General Manager (Investment) of Overseas Assurance Corporation (OAC) and was responsible for the investment function of the Group Overseas Assurance Corporation Ltd.​

​Teng began his career in the financial industry as an Investment Manager with NTUC Income, Singapore. He is a Bachelor of Science graduate from the National University of Singapore and has a Post-Graduate Diploma in Actuarial Studies from City University in London.
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