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.
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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.
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By GlobalDataCompany 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.
