Emirates NBD Asset Management Launches Inaugural Public Fund in DIFC – Business – Economy and Finance

Emirates NBD Asset Management Launches FundStar, Strengthening UAE’s Asset Management Sector

Emirates NBD Asset Management, the asset management division of Emirates NBD, has taken a significant step towards bolstering the UAE’s asset management sector by establishing its first public fund in Dubai International Financial Centre (DIFC) named FundStar (OEIC) PLC. This move solidifies Emirates NBD Asset Management as one of the largest local asset managers in the UAE.

Regulated by the Dubai Financial Services Authority (DFSA), FundStar is an umbrella fund that will host feeder funds and master funds across various asset classes and geographies, including equity, fixed income, and multi-asset strategies in both conventional and Shari’ah-compliant forms. The fund will be promoted through a public offering to onshore retail investors in the UAE, providing them with access to professionally managed portfolios and opportunities to invest in foreign funds domiciled in highly regulated jurisdictions.

Michail Samawi, Senior Executive Officer at Emirates NBD Asset Management, expressed pride in creating a Public Fund that complies with prevailing regulations and offers customers access to professionally managed funds in highly regulated jurisdictions. He emphasized the importance of FundStar in supporting the investment goals of retail investors and contributing to the growth of financial markets in the region.

Tariq Chaudhary, Group Head of Wealth Management at Emirates NBD, highlighted the significance of FundStar in providing locally regulated solutions to support the investment goals of retail investors in the UAE. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, emphasized the institution’s commitment to innovation and technology in launching FundStar, a platform that offers best-in-class solutions to regional investors.

FundStar (OEIC) PLC offers investors the opportunity to participate in conventional and Shari’ah-compliant forms, regional and global fixed income portfolios, equities, and access to world-class asset managers through risk-profiled, multi-asset funds. With low entry investment amounts, daily liquidity, and income generation on a quarterly basis, FundStar provides a valuable investment opportunity for retail investors in the UAE.

The launch of FundStar marks a significant milestone in the UAE’s investment landscape, providing investors with access to a diverse range of professionally managed funds and strengthening the country’s asset management sector. Emirates NBD Asset Management’s commitment to innovation and regulatory compliance positions it as a key player in the region’s financial markets, offering investors a platform to achieve their investment goals effectively.