Saudi Hollandi Bank’s new Al-Diraa investment exceeds target in January
Saudi Hollandi Bank (SHB) has reported that the first series of its Al-Diraa Structured Investments has exceeded sales targets by 70 percent during January, the first month of subscription.
Al-Diraa Structured Investments afford Van Gogh Preferred Banking clients the benefit of selecting from a range of alternative investment options and are designed to provide investors with capital protection.
Managed by the bank's team of asset management professionals, the initial investment series will provide up to 100 percent participation in the underlying SHB TASI Index Fund. This investment is the first and only capital protected note in the region linked to the performance of Saudi equities.
SHB will be issuing additional series of Al-Diraa Structured Investments in the course of the coming year. These will include a global offering designed by the bank in cooperation with its global partner ABN AMRO, named Al-Diraa Global Protected Equity Fund. The target size of this Shariah-compliant investment is $100 million.
Launched in September 2003, the Van Gogh Preferred Banking initiative provides clients with access to a number of enhanced banking and wealth management services through SHB and ABN AMRO's international network. — (menareport.com)
© 2004 Mena Report (www.menareport.com)
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