Emirates NBD AM assets grew 10% in 2017
Total AUM made up of $3.4b of segregated mandates, $1.4b in funds
Emirates NBD Asset Management said yesterday its total assets under management rose 10 per cent to $4.8 billion (Dh17.6 billion).
The total AUM was made up of $3.4 billion of segregated mandates and $1.4 billion in funds, the asset management company said in an emailed statement.
Among the funds, greatest asset growth was achieved by the Emirates Global Sukuk Fund, which grew by 62 per cent, while the Emirates MENA Fixed Income Fund grew by 31 per cent, reaching $194 million.
The Emirates Active Managed Emirates NBD, Dubai’s largest bank, has appointed Standard Chartered and other banks to lead a potential Formosa bond issue, sources familiar with the matter said.
Formosa bonds are sold in Taiwan by foreign issuers and are denominated in currencies other than the Taiwanese dollar. The potential deal would be Emirates NBD’s first public Formosa bond sale. Emirates NBD declined to comment. Should it go ahead, Emirates NBD’s Formosa bond would be the latest of a series of similar debt transactions by other Gulf banks over the past few weeks. Fund delivered returns of 18.5 per cent, while the Emirates Balanced Managed Fund and Emirates Global Quarterly Income Fund returned 14.08 per cent and 10.38 per cent respectively.
Salman Bajwa, senior executive officer at Emirates NBD Asset Management, said: “This year we have expanded our footprint across the GCC by adding some of the largest regional institutions as clients and increased our penetration across international investors, particularly in Europe.”