All INVESCO's off-shore funds will now be available to Mashreq customers.
"At Mashreq, we are dedicated to providing our customers with the very best possible suite of investment products. INVESCO's off-shore fund range will now be available to our customers from any of our 47 branches throughout the UAE," said Nabeel Malik, Retail Banking Group in Mashreq.
"Our role as investment advisers to our customers is one we take seriously. We are a team of dedicated investment professionals who seek to understand our customer's unique investment criteria through in-depth risk profiling. Now that we are able to offer the INVESCO off-shore fund range, we are confident that we are in a position to even better meet the demands of our customers." continued Mr. Malik.
Nick Savastano, Associate Director, INVESCO Dubai, said: "I am delighted to confirm that the INVESCO off-shore fund range will now be available to Mashreq customers. We are receiving considerable local interest for products such as the INVESCO Capital Shield 90 Fund and our Asian funds which, along with our entire range, will be available through Mashreq."
He adds, "The continuing apathy in local stock markets, combined with the increasing investor sophistication apparent in the region, is driving savvy investors to consider fund products that can bring greater diversification to their portfolios. I believe our agreement with Mashreq will benefit investors greatly in this way."
INVESCO opened its office in Dubai in September 2005 and has a license from the Dubai Financial Services Authority (DFSA) to operate from the Dubai International Financial Centre (DIFC) as an authorised firm.
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Invesco signs distribution agreement with Mashreq
- United Arab Emirates: Sunday, June 10 - 2007 at 11:24
- PRESS RELEASE
INVESCO Asset Management Limited, part of INVESCO PLC one of the largest independent investment management organizations, today announced that it has signed a distribution agreement with Mashreq.
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Notes and media contacts
For more information please contact:John Hobday, FD
Manash Bhuyan, FD
Level 17, Al Attar Business Tower, Sheikh Zayed Road
PO Box 71253, Dubai, UAE
T +971 (0) 4 332 8832
F +971 (0) 4 332 8388
INVESCO is part of INVESCO PLC, one of the largest independent investment management organizations. INVESCO PLC is dedicated to helping people worldwide build their financial security. Operating principally through the AIM, AIM Trimark, Atlantic Trust, INVESCO, Invesco Perpetual, PowerShares and WL Ross & Co. brands, INVESCO PLC strives to deliver outstanding performance and service across a comprehensive range of investment products for individuals and institutions around the world.
About Mashreq
mashreq is the largest private bank in the UAE and also the second oldest. Founded in 1967 as Bank of Oman, the bank has played a pioneering role in the industry, particularly in retail banking. Among its many firsts it was the first to launch such products as travellers' cheques, credit cards and ATMs.
It is invariably among the highest performing banks in the region. Last year it recorded a Net Profit of over US$470 million from a Total Operating Income of $844 million. At the end of last year its Total Assets stood at $15.2 billion
mashreq has received numerous international awards, particularly for quality management. According to independent research it has more ISO certifications than any bank in the region by a wide margin.
As a leading financial Institution in the UAE mashreq aims to be world class in every facet of its business, including its social responsibility to the community it serves. Towards this goal the bank pays particular attention to recruiting, training, developing and retaining UAE National employees.
Posted by Lara Lynn Golden, News EditorSunday, June 10 - 2007 at 11:24 UAE local time (GMT+4)
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