Federal Bank in association with Equirus Wealth launches an exclusive USD Fixed Maturity Fund
Chennai, 19th January 2021: Federal Bank in association with Equirus Wealth has launched “US Dollar offshore fund” exclusively for their customers. This is in collaboration with SCUBE Capital, a global fund management company based out of Singapore.
Both NRI and Resident customers of Federal Bank can invest in this fund that offers a portfolio return (IRR) guidance of ~ $ 6.50% per annum* with a fund tenor of 3 years from the date of fund closure with an option to extend by 1 year. The Portfolio is managed by a highly skilled team with a cumulative experience of over 70 years in managing investments of over US$ 50 billion.
Speaking on the occasion, Shalini Warrier, Executive Director & Business Head – Retail, Federal Bank said, “We have always strived to bring the best of products and services to our customers, and the newly introduced US Dollar Offshore Fund is an example of this. The offer has been specially curated by our partner, Equirus Wealth along with SCUBE Capital and is only available to Federal Bank customers. We are confident our customers will find this offer attractive and useful”.
Adding to the above, Ajay Garg, Managing Director – Equirus Group, said, “Our constant endeavor is to provide holistic wealth management solution to our clients. The product offers attractive risk-adjusted returns given the low debt yield environment. While this is our first exclusive product for Federal Bank clients, we are very keen to create a pipeline of such exclusive offerings going forward.”
Mr. Hemant Mishr, Co-Founder and CEO, Asset Management, SCUBE Capital, Singapore, added that “SCUBE Capital is pleased to partner Federal Bank and Equirus to offer this exclusive offering to Federal Bank’s clients. The fund has been jointly designed with inputs from the Equirus and the Federal Bank team, in keeping with the spirit of collaboration. The investment strategy seeks to offer superior risk-adjusted-return for investors against the backdrop of rock bottom interest rates.”
Federal Bank in association with their associate partner Equirus Wealth has been offering a bouquet of compr ehensive tailor-ma de wealth management solutions to customers since 2018. C sto mers who wish to invest into this new scheme or those who want to know more about the product proposition can reach out to Fed eral Bank Investment Relationship Manager directly or email th em at invest@federalbank.co.in for support.
About Federal Bank Limited
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of 1,289 banking outle ts and 1,957 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) sto od at Rs. 3.05 Lakh Crore as on March 31, 2021. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.62% as on 31st March 2021. Federal Bank has its Representative Offices at Du bai and Abu Dhabi that serve as a nerve center for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.
About Equirus Wealth
Equirus Wealth (www.equiruswealth.com) is a holistic Wealth Management platform providing Client Centric, Comprehensive, and Transparent Wealth Management services for Individuals, Families, and Corporates. The firm has offices in Mumbai, Delhi NCR, Bengaluru, Pune, Kochi, Thiruvananthapuram, Kozhikode, Kottayam, Chennai, Malappuram, Alleppey and Kolkata. Equirus Wealth is a subsidiary of Equirus Capital, which is India’s leading full-service investment bank for mid-market corporates. Equirus Wealth have been felicitated with the following recognitions in recent past. In the year 2021, Equirus Wealth has been recognized with Best Boutique Wealth Manager – Rising Star Award at The Asset Triple A Private Capital Awards 2021.
About SCUBE Capital
SCUBE is a global fund management company domiciled in Singapore and regulated by the Monetary Authority of Singapore (MAS). We are a strong team with a cumulative experience of over 70 years in Asian Fixed Income. Our team has managed investments of over USD50 billion in our previous roles. We are a dedicated team of internationally experienced experts delivering institutional investment expertise to clients
