Barwa Bank launches its first equity fund, 'The First Investor GCC Equity Opportunities Fund'
- Qatar: Sunday, September 30 - 2012 at 16:57
- PRESS RELEASE
Barwa Bank, Qatar's growing Shari'ah compliant bank, has launched its first fund, "The First Investor GCC Equity Opportunities Fund" (the "Fund"). The Fund is managed by The First Investor, (TFI), the investment banking subsidiary of Barwa Bank Group.
Mr. Robert Pramberger, The First Investor's Acting Head of Asset Management commented, "Historically, GCC markets have returned more than c.12% per annum and our selections have consistently outperformed the market. Furthermore, we believe that regional equities are trading at relatively attractive valuations and are offering very compelling dividend yields".
The Fund offers up to 2,000,000 Units at QR1,000 during the Initial Offering Period, thereafter at the net asset value per Unit on each Valuation Day.
Mr. Hussain Al Abdullah, Head of Retail Banking, Barwa Bank commented, "The fund is aligned with our continuous efforts to introduce innovative banking products and services to our customers in line with our strategy to improve the Shari'ah compliant banking experience in Qatar."
The fund is targeted at Qatari Institutions as well as Qatari individuals and can be subscribed to at any of the five Barwa Bank branches, located on Grand Hamad Street, Alfardan Towers West Bay, Prestige Branch on C-ring Road, Al Rayan and Al Saad. The one month subscription period for the Fund begins on October 1, 2012.
Mr. Steve Troop, CEO, Barwa Bank Group concluded, "As an integrated Shari'ah compliant banking group, we look to leverage our capabilities across the Group to provide a unique offering to our customers. The launch of TFI GCC Equity Opportunities Fund provides our customers with an investment opportunity that is delivered seamlessly through our branches and other delivery channels and we will continue to build out similar proposition in future."
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.