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With the debut of its new Fixed Maturity Portfolio (FMP) on 9 October 2024, First Abu Dhabi Bank (FAB), one of the biggest and safest financial institutions, garnered about $200m in assets under management (AUM), setting a record for subscription levels.
Having a successful first series roll-out in 2023, the portfolio comprises the second series of FAB's conventional fixed maturity portfolio in addition to the bank's first Shari'ah-compliant FMP.
The FAB Sukuk MENA Plus Fixed Maturity Portfolio Series 1 yielded a net 4.50%, while the FAB MENA Plus Fixed Maturity Portfolio Series 2 caved a net 5.50%. These funds were made available to professional investors and have a three-year duration. They were introduced to accommodate the diverse needs and investment preferences of FAB clients.
The portfolios have been intended to generate a high yield through quarterly dividends paid out or reinvested. The income is created by carefully chosen bonds and sukuks across geographies and industries, resulting in a well-diversified portfolio of fixed-income instruments that decrease volatility and risk.
FAB Asset Management's new FMP is ideal for income-seeking investors who want to secure in high returns while also managing risk optimally in a time of dropping interest rates.
Sovereign wealth funds, pension funds, foundations, financial institutions, family offices, insurance companies, and individuals are among the diverse clientele of FAB Asset Management.
Company partnerships
French investment company Wendel has entered a deal to acquire a 75% stake in US private credit manager Monroe Capital.
The move aligns with Wendel’s roadmap to expand its third-party asset management platform.
Initially, Wendel will invest $1.13bn to acquire 75% of Monroe Capital’s shares. This includes 50% from Monroe’s management and 25% from Bonaccord Capital Partners, a minority owner.
"First Abu Dhabi Bank AM generates close to $200m" was originally created and published by Private Banker International, a GlobalData owned brand.
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