Wednesday, Dec 04, 2013
Dubai: Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD, on Wednesday announced a strategic partnership on its global public funds with Jupiter Asset Management, one of the UK’s leading fund groups and an active fund manager.
The newly formed strategic partnership announced that Jupiter’s multi-manager team has been appointed as delegate investment advisor for the conventional multi asset class global funds such as the Emirates Active Managed Fund, Emirates Balanced Managed Fund and Emirates Conservative Managed Funds.
Emirates NBD Asset Management also announced the launch of the Emirates Global Quarterly Income Fund (income fund), which will be available under the Emirates NBD SICAV (investment company with variable capital) established in Luxembourg. The fund is an open-ended collective investment scheme domiciled in Luxembourg, with Jupiter’s multi-manager team appointed as the delegate investment manager for the fund. Currently, the first four funds together have $107 million under management.
In addition the above, Emirates NBD Asset Management has launched the Emirates Emerging Market Corporate Absolute Return Fund on Wednesday under the SICAV structure.
Jupiter’s Funds team manage approximately $16 billion in assets through multi manager products which are graded Platinum by S&P. The Emirates NBD Asset Management global multi asset class funds have been designed for investors seeking to maximise returns and long-term capital growth while managing risk through a diversified portfolio.
“There is growing demand for global products from global and regional investors. The funds are expected to benefit from the new management structure which will leverage the global expertise of Jupiter Asset Management,” said David Marshall, Senior Executive Officer, Emirates NBD Asset Management.
Emirates NBD Asset Management currently manages a total of Dh7.7 billion under public mutual funds that cover regional, global equity and fixed income are real estate assets and discretionary portfolios tailored meet specific client requirements.
“The tie-up offers clients a value added proposition for the global fund platform. Our asset management mandates are closely aligned with Jupiter’s core strategies,” said Marshall.
Jupiter officials said, the linkup with Emirates NBD Asset Management is a key step in its expansion into the region building on its existing presence in Europe and Asia.
“As a fund manager focusing on delivering investment outperformance over the medium to long term across its range of portfolios, Jupiter Asset Management highly values this strategic tie up. This offers us distribution access one of the world’s most dynamic emerging markets,” said Kevin Scott, Executive Director International at Jupiter Asset Management.
By Babu Das ?Augustine Deputy Business Editor
Gulf News 2013. All rights reserved.
