Emirates NBD Asset Management Limited, the asset management arm of Emirates NBD, a leading bank in the region, today 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 with an outstanding track record. 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 fund range.
Emirates NBD Asset Management also announced the launch of the Emirates Global Quarterly Income Fund (the “income fund”), which will be available under the Emirates NBD SICAV. 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*. Jupiter’s award winning Independent Funds team manage approximately USD16bn (as at 30th September 2013) in assets through multi manager products which are graded Platinum by S&P.
In addition to the income fund, Emirates NBD Asset Management has also launched the Emirates Emerging Market Corporate Absolute Return Fund (the “fund”) under the SICAV structure.
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. The funds are expected to benefit from the new management structure which will leverage the global expertise provided by Jupiter Asset Management, which, combined with Emirates NBD Asset Management’s local knowledge, will seek to take these funds to the next level of performance.
“As an important component of the bank’s Wealth Management Division, Emirates NBD Asset Management offers investors a value-added relationship that combines investment expertise, access to international platforms and world class execution,” said David Marshall, Senior Executive Officer, Emirates NBD Asset Management. “We are pleased to announce this strategic partnership with Jupiter Asset Management, which will give a huge boost to our global expertise and further drive the process to develop Emirates NBD Asset Management’s in-house product range into global markets.”
Kevin Scott, Executive Director International at Jupiter Asset Management, said: “Expansion and global outreach is an important aspect of today’s connected world and we are pleased to partner with one of the leading asset management firms in the GCC to enhance their fund offering. As a fund manager focusing on delivering investment outperformance over the medium to long term across its range of portfolios, Jupiter Asset Management is excited about this strategic tie up, which will aim to maximise performance on the global product range. This is a key development of our international expansion plans, complementing our existing presence in Europe and Asia.’
The Emirates Active, Balanced and Conservative Managed Funds are the S&P Silver graded multi asset global funds that have been running since 2004 under Emirates NBD Asset Management’s oversight.
The Emirates Global Quarterly Income Fund (the “income fund”) is a diversified portfolio which aims to provide investors with a professionally managed means of generating a quarterly distribution by investing across a wide range of asset classes including fixed income securities, equity income and other income producing assets, predominantly through a fund of funds strategy. The income fund will invest in best of breed asset managers globally across asset classes, as advised by Jupiter’s multi-manager team.
The Emirates Emerging Market Corporate Absolute Return Fund (the “fund”) is a diverse portfolio of fixed income securities, actively managed by the fixed income team at Emirates NBD Asset Management to maximise total return whilst minimising risk, by investing primarily in high-yield corporate bonds of issuers from global emerging markets.
Customers can invest in these open-ended funds through banking channels, IFAs, directly through Emirates NBD Asset Management or through a range of global platforms.**
“The opportunities offered by this new partnership are unparalleled, as they allow investors to enjoy the benefits of a team that has delivered superior returns and steady income while controlling risk. Emirates NBD Asset Management is confident that this tie up will offer a unique opportunity for our investors.” added Marshall.
Emirates NBD Asset Management Limited recently received the awards for ‘UAE Asset Manager of the Year’ and ‘Fixed Income Manager of the Year’ at the 2013 Global Investor/ISF Middle East awards. It was also voted as “Best Asset Management Company" at the annual Arab Achievement Awards 2013, a recognition achieved by the company for the third consecutive year, reflecting its commitment to provide outstanding asset management products and services to investors in the wider Middle East region.