Emirates NBD Asset Management establishes its first Public Fund in DIFC

Dubai Expo

Emirates NBD Asset Management establishes its first Public Fund in DIFC

Investors receive access to feeder funds and master funds domiciled in highly regulated jurisdictions

Emirates NBD Asset Management, the asset management arm of Emirates NBD, a prominent banking group in the MENAT region, has unveiled its pioneering initiative aimed at fortifying the UAE's asset management sector. The launch of FundStar (OEIC) PLC marks a significant step towards advancing the country's financial landscape, particularly in the realm of public funds.

Regulated by the Dubai Financial Services Authority (DFSA), Emirates NBD Asset Management has established FundStar as an umbrella fund designed to accommodate a diverse array of feeder funds and master funds. These funds span various asset classes and geographies, encompassing equity, fixed income, and multi-asset strategies in both conventional and Shari’ah-compliant forms.

FundStar's introduction aligns with the UAE's efforts to foster the growth of its asset management sector, as outlined in the Memorandum of Understanding among regulatory bodies including the Securities and Commodities Authority (SCA), the Financial Services Regulatory Authority (FSRA), and the DFSA. Through public offerings targeting onshore retail investors in the UAE, FundStar shares provide access to professionally managed portfolios across a wide spectrum of asset classes and geographies.

Investors can tap into FundStar's offerings with low entry investment amounts starting from USD 1,000/AED 1,000, ensuring accessibility and inclusivity. With daily liquidity and quarterly income generation, FundStar aims to cater to the evolving investment needs of retail investors in the region.

Michail Samawi, Senior Executive Officer (SEO) at Emirates NBD Asset Management, expressed pride in creating a Public Fund that complies with prevailing regulations, emphasizing the firm's commitment to providing innovative solutions while nurturing customer relationships.

Tariq Chaudhary, Group Head of Wealth Management at Emirates NBD, underscored the significance of FundStar's launch in addressing the evolving investment landscape of the UAE. He emphasized the platform's role in offering locally regulated solutions to support the investment objectives of retail investors.

Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, highlighted the institution's commitment to innovation and technology through the launch of FundStar. The platform leverages regional and Shari’ah-compliant capabilities to provide best-in-class solutions while supporting the growing needs of financial markets in the region.

FundStar (OEIC) PLC presents investors with opportunities to engage in conventional and Shari’ah-compliant investment forms across regional and global fixed income portfolios and equities. Additionally, investors gain access to world-class asset managers through a range of risk-profiled, multi-asset funds.

The launch of FundStar underscores Emirates NBD Asset Management's dedication to driving financial innovation and fostering the growth of the UAE's asset management landscape.