NBF launches investment management business

InvestingUAE-based National Bank of Fujairah (NBF) has started an investment management business aimed at institutional investors, high net worth investors and the mass affluent. According to NBF, its approach will be based on independently-researched and risk-based investment products. The bank intends to use more than 30 international fund managers and has established a partnership with Morningstar to build its model portfolios. Initially NBF will offer investors eight risk-based portfolios which will all contain an average of 12 mutual funds. Each of these portfolios will contain an average of 12 mutual funds that will invest in various asset classes and geographies. “The bank has taken a number of years to find an approach that can be easily understood yet draws on the enormous number of options available to deliver an unbiased and objectively chosen mix of investments,” said Vince Cook, chief executive, NBF. “This provides a cost-effective entry for people of different financial positions to a world that is often only available for significant lump sums.” ©2019 funds global mena

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