DOHA: The Qatar National Bank (QNB), a leading regional lender, has launched a debt (bond) fund which is open for subscription to retail as well as corporate and institutional investors with the minimum subscription amount being QR20,000 ($5,479.4). Further investment can be made be in multiples of QR 10,000.
The fund will be denominated in Qatari riyal (QR), a QNB release said yesterday adding that QNB is the first Qatari bank to float a debt fund. The unique features of the QNB Debt Fund provide an attractive platform for subscribers to invest in debt securities which are issued by GCC-based sovereign and corporate entities.
Amid often- challenging global market conditions, GCC bonds offer a combination of attractive rates of return (and superior levels of underlying credit risk) which is not generally available elsewhere.
The QNB debt fund is suitable for investors who are seeking an enhancement to the returns which they would otherwise receive through deposits. As such, it is likely to be appropriate both for individual and corporate as well as institutional investors. “This innovative product is yet another example of QNB’s determination to remain the partner institution of choice,” said the release.
QNB aims to make the appeal of the Debt Fund as broad as possible. To achieve this, it is offering a unique opportunity to subscribe to the Fund, with no monthly subscription (entry) or redemption (exit) fees.
NCB Capital plans Islamic equity
DUBAI: NCB Capital, Saudi Arabia’s largest asset manager, is launching a range of Irish-domiciled Islamic mutual funds, as it seeks to broaden its investor base and appeal to emerging market investors, according to senior executives.
The Jeddah-based firm has launched two funds which invest in Saudi Arabian and GCC equities.
The Peninsula/Reuters
