National Bank of Fujairah today announced the launch of the ‘Future Value Protected Product,’ a private equity product aimed at investors seeking medium term asset diversification.
Structured by ABN Amro, the product invests in American and European Private Equity Share basket. With the primary aim of maximizing investor returns, the ‘weight’ of the basket is equally divided among ten listed private equity companies.
“With a minimum investment of US$50,000, the ‘Future Value Protected Product’ provides investors with the opportunity of 95 percent participation in the Private Equity Basket while at the same time providing 100 percent capital protection,” said Asad Ahmed, General Manager of the National Bank of Fujairah (NBF). “Such products are targeted at investors looking for security, diversification with greater returns compared to bank deposits.”
The product is open for subscription till Oct 31, 2006 NBF will endeavor to provide investors with liquidity on a regular basis, also overdraft facilities of up to 90 percent of the value of the investment will be available.
In case of early redemption, a 2 percent fee will be charged for the first year, 1 percent for the second and no redemption charges from the third year onwards.
About NBF:
National Bank of Fujairah was established in 1982 in the Emirate of Fujairah. Its key shareholders include the government of Fujairah (39%) and the government of Dubai (10%). It is primarily a corporate bank with strong trade finance expertise, some limited retail banking activities and growing businesses in investment services and small business financing. National Bank of Fujairah intends to deepen its product range over the next few years by selectively expanding its retail banking services while continuing to build its core corporate banking services. The existing branch network is set to increase from the current six branches to up to 12 by the end of the year.
NBF is listed on the Abu Dhabi Securities Market under the symbol “NBF”.
