The equity part of the investment is linked to the performance of the S&P 500 Index.
"Equity Gold targets the risk-averse investor as it guarantees a return of at least 15 per cent if held to maturity," said Nabeel Waheed, Senior Vice President and Head of Treasury and Capital Markets, Mashreqbank. "It also has an unlimited upside potential through 50 per cent participation in the performance of the underlying basket of equity and gold, with annual averaging."
The underlying basket is diversified across asset classes as equities perform well in times of economic growth and gold is regarded as a hedge against economic uncertainties and inflation. The minimum investment is US$10,000 and the closing date for subscriptions is 20 March 2004.
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Mashreqbank launches Equity Gold investment
- United Arab Emirates: Sunday, March 07 - 2004 at 17:11
- PRESS RELEASE
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Mashreqbank has recently launched MashreqInvestments Equity Gold, a five-year, 100 per cent principal guaranteed, US dollar investment product which will pay out a minimum of 15 per cent on maturity or 50 per cent uncapped participation in the performance of a balanced basket of equity and gold.
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Posted by Christine H. Andersen, Assistant News EditorSunday, March 07 - 2004 at 17:11 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
This article was updated on Mon Mar 08 2004.
Notes and Media Contacts »
For further informationa, please contact
Maha Yassine
Corporate Communications Manager
Mashreqbank
Dubai
Tel: 04 706 6287
or
Jack Pierce
Matrix Public Relations
Dubai
Tel: 04 343 0888
Maha Yassine
Corporate Communications Manager
Mashreqbank
Dubai
Tel: 04 706 6287
or
Jack Pierce
Matrix Public Relations
Dubai
Tel: 04 343 0888
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