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Tuesday, November 10 - 2009

Standard Chartered Bank's investment product yields impressive returns

  • United Arab Emirates: Tuesday, March 09 - 2004 at 14:24
  • PRESS RELEASE

Standard Chartered Bank's investment customers are celebrating a substantial return on their investment in Capital Guaranteed Notes linked to Aberdeen Sovereign High Yield Fund (ASHYF), which matured on March 9, 2004.

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The ASHYF-linked notes, managed by Aberdeen Asset Managers Ltd, were distributed to the Bank's Wealth Management customers in February 2001.

The fund has performed remarkably since then, beating its benchmark by a significant margin. The investment objective of the fund is to invest in Emerging Market Sovereign Debt and profit from the upside performance in more than 20 countries - providing diversification with lower volatility than the equity markets.

Jeremy Awori, Standard Chartered's Head of Consumer Banking for the UAE said: "Our Wealth Management division is leading the way in the UAE by offering customers sound investment opportunities. Our strength has been in providing products with an appropriate risk - return profile for our select customer base".

"Despite a litany of negative global developments like the terrorist attacks on the World Trade Centre, the ensuing worldwide bear market, SARS, the Iraq situation and global recessionary trends, the fund has delivered attractive returns in a short span of just three years."

The final Net Asset Value (NAV) of the notes as on March 2nd was USD 146.95, representing a cumulative return of over 46% over 3 years.

The ASHYF linked notes were issued by Société Générale (as guarantor of the fund) in March 2001 as Capital Guaranteed Notes linked to the performance of Aberdeen Sovereign High Yield Fund (ASHYF).
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Log in to request more information from Standard Chartered Bank (SCB)

Notes and media contacts

For further information, contact:

Will Rankin, MCS/Action, PO Box 20970, Dubai t: +971 4 3902960 f: +971 4 3908161

Aida Hamza, Head of Corporate Affairs, SCB UAE, +971 4 5070 666

Standard Chartered - leading the way in Asia, Africa and the Middle East
Standard Chartered employs 30,000 people in over 500 locations in more than 50 countries in the Asia Pacific Region, South Asia, the Middle East, Africa, the United Kingdom and the Americas. It is one of the world's most international banks, with a management team comprising 70 nationalities.

Standard Chartered is listed on both the London Stock Exchange and the Stock Exchange of Hong Kong and is in the top 25 FTSE-100 companies, by market capitalisation.

It serves both Consumer and Wholesale Banking customers. Consumer Banking provides credit cards, personal loans, mortgages, deposit taking and wealth management services to individuals and small to medium sized enterprises. Wholesale Banking provides corporate and institutional clients with services in trade finance, cash management, lending, securities services, foreign exchange, debt capital markets and corporate finance.

Standard Chartered is well-established in growth markets and aims to be the right partner for its customers. The Bank combines deep local knowledge with global capability.

The Bank is trusted across its network for its standard of governance and its commitment to making a difference in the communities in which it operates.

Standard Chartered in the Middle East and South Asia
One of the leading international banks in the region, Standard Chartered has a branch network of 76 branches in 12 countries. The UAE is one of the Bank's major markets, and Standard Chartered has a commanding share of the market in its chosen market segments. Overall, the Middle East and South Asia region contributed over 11% of the Group's revenues and more than 23% of the Group's trading profits in 2002, clearly demonstrating the Bank's strong network and expertise in the region.

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