National Bank of Fujairah launches Investment Management Business
Bank provides comprehensive investment solutions with exit possibility on a weekly basis
07 April 2019: National Bank of Fujairah(NBF) PJSC announced the launch of its Investment Management business to provide mass affluent priority banking, high-net worth and institutional investors with high quality, independently-researched and risk-based investment solutions.The bank’s approach will be objective and transparent with regards to the individual investments to be held and the charges incurred, utilising world class research and an objective selection process. The bank will use more than 30 best in class international fund managers to build the model portfolio.
NBF investment solutions provide investors with a one-stop service through an individually-tailored customer journey. The bank helps investors define their investment objectives and long-term financial aspirations in line with individual circumstances including risk appetite, life cycle and time horizon. The bank’s engagement continues beyond the initial sale as the portfolio is tracked and is continuously adjusted and rebalanced to respond to changing personal circumstances and market trends.
The investor’s individual experience and profiling assessment will determine the choice of the investor’s portfolio. With NBF, model portfolio solutions can start from as low as USD 25,000 for lump sum investments and as low as USD 1,000 for a monthly contribution in a systematic investment plan – across both conventional or Sharia’-compliant investment solutions. NBF’s investment solutions are offered in 8 distinct risk-based model portfolios, comprised of independently-researched, multi-asset mutual funds. Each portfolio contains an average of 12 mutual funds that invest in various asset classes and geographies. The bank collaborates with MorningStar, an independent investment research firm, to construct and dynamically manage the portfolios.
Commenting on the announcement, NBF’s CEO Vince Cook said: “The bank has taken a number of years to find an approach that can be easily understood yet draws on the enormous number of options available to deliver an unbiased and objectively chosen mix of investments. This provides a cost effective entry for people of different financial positions to a world that is often only available for significant lump sums. We are excited to offer clients with various financial capabilities a proposition that is typically reserved to private banking clients. Cementing our position as the leading financial partner for clients, NBF is committed to leveraging its in-house experts and network of partners to offer clients investment strategies that suit their objectives in an unbiased, transparent manner. A key differentiator for NBF’s investment products is that investors can choose to exit the investment on a weekly basis due to the transparent fee structure and the absence of lock-up and redemption penalties.”