Mashreq raises $52mln in subscription for Fixed Maturity Plan

With the second series targeting higher yields and a shorter maturity duration. The FMP Series investment portfolio includes household names such as JP Morgan, Jaguar Land Rover and Adani Ports amongst others.

The initial offering period was open from 21st May until 25th June 2019, with the FMP Series 2 generating significant interest from Mashreq Bank’s private banking and gold clientele.

Oliver Kettlewell, head of Fixed Income, Mashreq Capital, said: “As regional investors look to diversify their assets, the FMP series offers them with attractive yields and regular payouts within a globally diversified portfolio of investments spread across the Americas, Europe, Asia and the GCC. Mashreq Bank’s clients who have previously invested in Mashreq’s FMP Plan 1 are on track to receive 5.2% annual yield with quarterly distribution. We are confident of delivering similar results for our investors as part of the series 2 plan.”

Hazem Ayoub, Head of Investments, Mashreq Bank said: “In light of the overwhelming success of the FMP Series 1, we are delighted to once again partner with Mashreq Capital (DIFC) to produce a second round of the FMP. The strong demand from our clients reflects their confidence in our innovation investment solutions.

“We continuously aim to tailor solutions which meet our clients’ needs and build on our offering to position Mashreq as a strong player in the wealth management space.”

Mashreq Capital (DIFC) benefits from the experience of its seasoned team on investment professionals with a combined experience of more than 100 years spanning global and local markets.

Mashreq Capital (DIFC) is the investment manager managing the FMP Series.

The company, a fully owned subsidiary of Mashreq Bank PSC, is an asset management firm based in Dubai International Financial Centre and regulated by the Dubai Financial Services Authority, with approximately $1.5 billion in assets under management. – TradeArabia News Service