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Dubai, UAE: Mashreq Bank, a leading financial institution in the UAE, today announced that its 3.5 years Fixed Maturity Plan (FMP) Series 2 managed by the bank’s investment arm, Mashreq Capital (DIFC) Limited (‘Mashreq Capital’ or ‘Company’), has raised AED 191 million worth of subscriptions within four weeks of its launch.
The FMP series offers clients a portfolio of yield-generating bonds, 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) Limited 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) Limited 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) Limited 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.
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About Mashreq
Established in 1967, Mashreq is the oldest Bank in the UAE with award-winning financial solutions and services. Throughout its 50 years' history, Mashreq has differentiated itself through innovative financial solutions, making it possible for its customers to achieve their aspirations. Today, Mashreq has a significant presence in 11 countries outside the UAE with 26 overseas branches and offices across Europe, USA, Asia, and Africa.
Mashreq launched its new Vision and Mission in 2016, outlining its commitment towards its clients, colleagues and the community. In line with its new Vision to be the region's most progressive bank, Mashreq leverages its leadership position in the banking industry to enable innovative possibilities and solutions for its customers across Corporate, Retail, International, Treasury and Islamic Banking. Mashreq is proud to be the first financial institution in the UAE to be awarded the Gallup Great Workplace Award for fifth consecutive years from 2014-2018. Mashreq also continues to invest in recruiting, training and developing future generations of UAE National bankers.
For media enquiries, please contact:
Rana ElBorno
Public Relations, Mashreq
Tel: 04 –6083629
Email: RanaAlb@mashreq.com
David Ross
Weber Shandwick
Tel: +971 4 445 42 22
Email: Dross@webershandwick.com
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