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Federal Bank, Equirus Wealth launch USD Fixed Maturity Fund

FPJ Web Desk | Updated on: Wednesday, January 19, 2022, 05:27 PM IST

Both NRI and Resident customers of Federal Bank can invest in this Fund./FederalBank |
Both NRI and Resident customers of Federal Bank can invest in this Fund./FederalBank |
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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, it said in a press statement.

Who can invest?

Both NRI and Resident customers of Federal Bank can invest in this fund that offers a portfolio return (IRR) guidance of $6.50 percent 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.

'Specially curated offer'

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”.

Ajay Garg, Managing Director - Equirus Group, said, "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."

Hemant Mishra, Co-Founder and CEO, Asset Management, SCUBE Capital, Singapore, said, “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.”

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Published on: Wednesday, January 19, 2022, 05:27 PM IST