Prudential launches new product

JAKARTA (JP): Prudential BancBali Life launched on Tuesday three additional new funds of its PRUlink investor account, an investment linked product that was first introduced last April and has already raised Rp 55 billion (US$7 million) in sales last year.

With these three additional new funds--Rupiah Equity, Rupiah Fixed Income and Rupiah Cash-- Prudential is targeting at least Rp 75 billion (US$9.7 million) in premium income this year from PRUlink investoir account alone, the insutrance company said in a statement.

The company said PRUlink Rupiah Equity Fund seeks to maximize returns over the medium and long term through investments in shares listed on the Jakarta Stock Exchange.

The Rupiah Fixed Income Fund seks to achieve an attractive level of income while the Rupiah Cash Fund seeks to produce income through investment in money market instruments such as time deposits and Bank Indonesia's certificates of deposits, Prudential added.