Despite the intense heat in the afternoon, 20,000 fans turned up to witness the first India-Pakistan clash in women's cricket in the UAE
The firm also has plans to launch a third one, a sector-specific fund, sometime this year.
Al Bashayer, based in the capital, is looking to serve high net worth individuals, women investors and families in the UAE and the region.
Chairman Fatima Al Jaber said in a Press conference that currently, two cash management products by the firm offer investors best deals on deposits.
Flanked by Sara Ismail Mohammed, the UAE’s first Emirati woman to lead a financial firm, Al Jaber said that the Bond Leveraging Note — a $100 million close-ended note — launched recently has already raised $32 million so far.
She said the proceeds will be invested in a portfolio of local and regional investment graded bonds, to offer an indicative return of 13 per cent per annum.
“Managed by Falcon Private Bank, this is a perfect solution to generate income above bank deposits rates on a short term basis,” Al Jaber said, who is also a member of the Abu Dhabi Chambers of Commerce and Industry board.
Mohammed said that another product is being offered to investors with a target to raise $100 million in proceeds by year-end. The Enhanced Cash Deposit Note will offer a guaranteed six per cent return, she said.
She said on the average, the banks in the country offer up to three per cent return on deposits.
Al Jaber told Khaleej Times that a third fund to be launched some time in the later part of the year will probably be a global equity or real estate fund. Mohammed said the size of the fund could be $100 million.
“The investment company is also working on whole range of services such as portfolio management, funds, pension and retirement plans, trusts structures, corporate restructuring, business consultancy and management services.”
She said the firm which has a paid-up capital of Dh50 million has started deploying funds under its management.
Al Jaber said that it took the company some time to launch its operations as the business environment was not that conducive in the wake of financial crisis.
Asked how her firm will be different from others in the market, she said Al Bashayer will fill the gap left by branches dedicated to serve women investors by offering personalised offering.
“Through partnerships and alliances with established financial institutions in the region and international markets, Al Bashayer Investment Company will be able to offer the diversified investment and wealth management activities for its clients in the UAE and the region,” Mohammed said.
Despite the intense heat in the afternoon, 20,000 fans turned up to witness the first India-Pakistan clash in women's cricket in the UAE
Both sides went into the Round 3 game with an unbeaten 2-0 record, and it was Mega MIS who maintained their flawless start to the season
A study finds that that seven out of 10 Tunisians aged between 18 and 29 wish to emigrate
French PM Barnier says the tragedy highlights the need to fight relentlessly against the networks of traffickers
The resignation comes after the media reported tensions at the top of the government between Gray and several political advisers, and revealed that her salary was higher than Starmer's
The leader was received by the Jordanian King, Crown Prince of Jordan, and a number of senior officials
Army personnel, using boats and helicopters, have joined rescue efforts, delivering emergency supplies and evacuating those trapped
UK PM cautions that 'a better future will not be won by traumatising, orphaning and displacing another generation'